when his own bank-credit is exhausted, goes to any of his neighbours who
is not in the same condition, and he gets the money, which he replaces
at his convenience."
[361:1] Indeed, in all respects, Hume's political economy is rather
analytical of the effect of existing institutions and establishments,
than suggestive of any views on the practicability of any great
amelioration of mankind by positive regulations founded on principles of
political economy. Adam Smith pursued the same method. The mission of
that school was indeed rather to break down than to build up--to find
out and eradicate the mischief that had been done by empiric
legislation; not to attempt new arrangements. While so much mischievous
matter remained to be got rid of, the field was not clear for any
attempts to try the effect of plans of social organization. It is
perhaps only now when the doctrines of the political economists, after
having stood out against neglect and hostility, have been nearly brought
into practice by the successive abolition of the regulations most
objectionable in their eyes, that room has been made for the suggestion
of plans of internal social organization, founded on inquiries both
extensive and minute. In the present position of measures for the
physical and moral purification, and the social organization of this
densely peopled empire,--in the approach to an adjustment of the poor
law,--the reform of the criminal code,--the prison discipline, and the
sanatory suggestions; and still more, in these not being the mere dreams
of utopian theorists, but receiving the countenance and support of
practical statesmen, we appear to have witnessed the dawn of a new era
in political economy.