That General Grant is not a political economist we are
not surprised to find. That he is without that practical sagacity which knows where to seek good advice even on a technical sub- ject, we are somewhat surprised and extremely sorry to find. He has sent a message to Congress supporting deliberately the idiotic proposal to spend the funds of Government on the foundation of a great shipping trade. He considers it a -" national humiliation" that America should pay for the use of foreign shipping,—why not equally that she should pay for the use of foreign tea ?—and regards it as "casting money into the sea as far as America is con- cerned,"—but that is precisely what General Grant proposes to do, rather than what America now does. "The building of ships and navigating them utilizes a vast capital at home," says General Grant. No doubt it does, but paying away a vast capital for the utilization of another vast capital, is not thrift. In fact, what the President proposes to do is to buy back the lost shipping trade. No doubt this is possible. Any tradesman may buy an enormous trade by offering to give money with his goods instead of taking 'money for them, and this is exactly what General Grant means, though he does not know it. But really that is not profitable work, and even the United States cannot afford to do it long.
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