ages of liberality and of the facilities
given to the prosecution of commerce, few persons of prudence care
to expose their capital very extensively to the chances of trade.

At present the Philippines want some infusion of foreign capital
and energy into the veins and local arteries of the country, which,
backed by the enlightened application of science, would cause these
islands to emerge from the obscurity now surrounding them, and force
them to assume the important position for which nature has apparently
destined them.

This will not come to pass until the present opinions of the Government
and people are considerably changed with reference to their commercial
legislation, or until all government interference in affairs of that
nature is left off, so far as the interests of the revenue will permit,
when the people will be insensibly but wisely taught by experience
to rely upon themselves alone.

The principles of commerce, and the wealth of nations, as laid
down by Adam Smith in his great work, which is almost deserving of
immortality for the truths it tells mankind, are as true and as sure
in practice as they are in theory; and should the wisdom and truth
of his investigations ever be applied to the commercial regulations
of these islands, it is difficult to foretell the destiny that may
ultimately await them.

It appears to me to be as unwise to attempt to restrain the course of
nature and its fruits, aided by the energies of man to develop or to
use them, as it would be to bind down the mind of a man of genius,
or of a poet, in order to prevent their operation, or to hinder the
great conceptions of their muse, or the scientific research which a
bright genius renders serviceable to his fellow mortals, from ever
seeing the light. No one will defend the justice or wisdom of the
time which forbade Galileo to publish, or even himself to believe in,
his great discoveries; but is that more unjust than the policy of
rulers, who shut up from the beings whom God has created to use them,
the fruits of our common mother, the earth?

It is equally absurd to prevent and to prohibit in either case;
but notwithstanding this, the passions and prejudices of mankind are
violent enough to permit of the one, although they would by no means
suffer the other. Wisdom and passion can seldom or never accompany
each other.

Philanthropy will ultimately banish from our codes all such regulations
as tend to check the fruitfulness of