Proofed and corrected from the scanned original edition.
Summary of Principles Illustrated in This Volume.
The duty of government being to render secure the property of its subjects, and their industry being their most undeniable property, all interference of government with the direction and the rewards of industry is a violation of its duty towards its subjects.
Such interference takes place when some are countenanced by legislation in engrossing labours and rewards which would otherwise be open to all;—as in the case of privileged trading corporations;
When arbitrary means of preparation are dictated as a condition of the exercise of industry, and the enjoyment of its fruits, as in the case of the apprenticeship law;—
When labourers are compelled to a species of labour which they would not have chosen,—as in the ease of the impressment of seamen.
The same duty of securing the free exercise of industry requires that companies should be privileged to carry on works of public utility which are not within the reach of individual enterprize, as in the case of roads, canals, bridges, &c., and also,
That the fruits of rare ingenuity and enterprize should be secured to the individual,—according to the design of our patent law.
In the first mentioned instances of interference, the three great evils arise of
The restraint of fair competition in some cases;
The arbitrary increase of competition in other cases;
The obstruction of the circulation of labour and capital from employment to employment, and from place to place.
In the last mentioned instances of protection, none of these evils take place.