PREFACE. Kit of truth. Strong powers of mind he un- questionably possessed; otherwise, he could neither have produced the works which have associated his name with the political measures of the age, nor could he have inspired those sentiments of admiration and deference, which have been so warmly manifested by men, them- selves of no common talents. It is probable, however, that the excess of their admiration has blinded them to his defects; that they have been too much occupied with the excellence of his speculations to note the errors by which they are disfigured. It would be difficult, on any other supposition, to account for the ex- travagant praises which have been heaped on his Principles of Political Economy and Tax- ation. One of our most distinguished living economists designates it as a “ work rivalling the ¢ Wealth of Nations’ in importance, and excelling it in profoundness and originality *.” * A Disc. on Pol. Econ., by J. R. M:Culloch, Esq., p. 65.