Note 26 — MEASURE OF VALUE.[25]

In a slight article on Mr. Malthus, lately published, I omitted to take any notice of the recent controversy between this gentleman—Mr. Godwin—and Mr. Booth; my reason for which was—that I have not yet found time to read it. But, if Mr. Lowe has rightly represented this principle of Mr. Booth's argument in his late work on the Statistics of England, it is a most erroneous one: for Mr. Booth is there described as alleging against Mr. Malthus that, in his view of the tendencies of the principle of population, he has relied too much on the case of the United States—which Mr. Booth will have to be an extreme case, and not according to the general rule. But of what consequence is this to Mr. Malthus? And how is he interested in relying on the case of America rather than that of the oldest European country? Because he assumes a perpetual nisus in the principle of human increase to pass a certain limit, he does not therefore hold that this limit ever is passed either in the new countries or in old (or only for a moment, and inevitably to be thrown back within it). Let this limit be placed where it may, it can no more be passed in America than in Europe; and America is not at all more favourable to Mr. Malthus's theory than Europe. Births, it must be remembered, are more in excess in Europe than in America: though they do not make so much positive addition to the population.