tion it has so long held, without dispute, of being the oldest Baptist church in America.

We have thus far had no opportunity of verifying the references which the pamphlet of Mr. Adlam contains, or of scrutinizing the manner in which they are employed; but allowing these to be correct, we are free to confess that the general view of which we have given an outline above, though novel and singular, has about it many marks of plausibility and truth. The fact that it contradicts the settled opinion of several successive generations, furnishes of course a strong presumption against it, and requires that it be well supported by reasons which cannot be controverted. But if it be thus supported, it will not fail sooner or later to find its way into the histories which may hereafter be written, of the planting of our denomination in America.

Labor and other Capital: The Rights of each secured, and the Wrongs of both eradicated. By EDWARD KELLOGG, Author of "Currency, The Evil and the Remedy." New-York: Published by the Author.

The great moral question of the day is that of social evils. It is a favorable indication that the attention of men is turned towards it. It has always been true, and now the fact is clearly seen and has become the subject of thought, that the laboring classes are poor-that those who create wealth do not possess it-that zealous industry is not properly rewarded, and that property is more and more unequally distributed. In former times the lower classes in the pursuit of political rights directed their efforts against the arbitrary will of princes. Their physical wants were better supplied, it is thought, then than now. Having gained their object, they find a more potent antagonist in the power of wealth; more potent, because wealth, or its unequal distribution, and not the wealthy, is the cause of their social trials. This is the source of poverty, ignorance, slothfulness, discontent, individual crime, and public discord. To discover the cause of this unequal distribution of wealth, and to provide a remedy for the evil, is a problem for statesmen and philanthropists.

The author of this work finds the cause in the high rates of interest which exist through the whole world, by which he contends that capital has the power, by the natural process of accumulation, to transfer to its possessor all the surplus gains, year after year, of those who labor. The possessors of wealth are few in number; those who labor are the vast majority of every nation. He proves, by indisputable calculations made in reference to a great variety of circumstances, the astonishing power that is given to money, by existing laws, to multiply itself in the hands of those who hold it. His idea is that money has no intrinsic value that it exists to represent value, and as a medium of trade and exchange. He insists that it should possess no advantages peculiar to itself-that one hundred dollars in money should be of no more value to its owner than one hundred dollars in any other kind of property-that it should not increase by an interest two or three times greater in ratio than the average income from houses and lands, and all the other possessions of men. He shows by statistical tables what the increase for a term of years upon all the property in the State has been-how trifling it is compared with the increase upon money by means of the interest allowed by law; and proves by this that what is in fact a mere representative, has had an importance attached to it which does not belong to that which is represented; and that those who own it and have loaned it at six or seven per cent. have been receiving for its use more than it is worth, more than borrowers, who pay the

VOL. XVI.-NO. LXIV.

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interest out of the income of other property, can pay; and that, by an irresistible process, they are drawing all the property of the people into their hands, and reducing them, by degrees, into a state of insolvency and poverty. It follows, of course, that the author is opposed to high rates of interest, and, contrary to the idea of political economists, thinks that there should be laws regulating the rate of interest, and that the rate should be low.

We must content ourselves by giving this imperfect outline of his argument, and do so the more willingly, because we feel that the work must be read to be appreciated; and we are therefore compelled to say barely enough to excite the curiosity of those of our readers who take any interest in this question, and to draw their attention to a careful perusal of the work.

We must distinctly say, that there is nothing agrarian or levelling in the positions laid down by the author. He does not propose to rob any one, or to excite one class against another. He wishes only to equalize property by removing impediments which now stand in the way of labor. This will be seen by all who read the work. We make the remark in order merely to anticipate the objections of those who might conceive a prejudice against the work which would prevent their examining it.

We agree with the author that the present rates of interest are too high, or rather that most people cannot pay them without loss. We have always seen that the mass of the people appear to have no other occupation than to pay interest to the few, and it has often been a cause of wonder to us that farmers and mechanics, on such slight occasions, voluntarily load their property and labor with a weight of debt which they cannot in reason sustain. Yet we do not see why capitalists should not be permitted to loan their money to those who will pay the highest rates of interest, and who are willing to take the risk of success or failure in their operations. It is not true, because the legal rate of interest is seven per cent., that money lenders receive that interest. They suffer from bad debts as well as others, and must make the gain in one case provide for the loss in another. Again, interest may be paid where money is not employed. Suppose that a person has on hand one thousand barrels of flour, and that in the ordinary trade in that article a profit of five per cent. per annum is realized. Now if some enterprising merchant knows of a foreign port where flour is scarce, and that one thousand barrels would sell for as much as one thousand five hundred barrels at home, why should he not be permitted to borrow one thousand and agree to return eleven hundred at the end of the year; and why should not the holder be permitted to receive ten per cent. on the amount of his property? Bring money into the trasaction, and the case might stand thus: holder of the flour might not be able to wait a year for his returns. Another person has money on hand, and the speculator, rather than to lose the opportunity, borrows the money of him to purchase the flour with, and agrees to pay ten per cent. for its use. Who will say that it is hard for him to pay, or unjust for the other to receive, the amount? The profits are only divided between two, instead of being united in one; and no one is injured by the transaction. The fact is that the greater part of the interest which people pay, or agree to pay, is found among a very small fraction of the population, those engaged in commercial adventures and speculations, where the risks are great, and the lender is liable to loss in some degree, as well as the borrower. It is not reasonable, therefore, that the interest on money should be equal only to the income on the bulk of a nation's property. It must be regulated by the demand for money among those who use it almost exclusively, the business men of commer

The

cial cities, and the profits which they make will show whether or not the rate of interest is unreasonably high.

These and many other thoughts passed through our mind in reading the work before us, and we merely suggest them for those who may be induced by our remarks to follow us in its perusal. Our idea about interest is, that it is quite as frequently the case that seven per cent. is paid by those who might borrow money for a lower rate, merely because it is the interest allowed by law, as that a higher rate is paid by speculators and persons suffering from the weight of their liabilities. The safest plan, however, particularly for those who do not live in the arena of speculation, is to practise economy and keep free from debt.

The author proposes as a remedy, that a national institution be established which shall substitute for a gold and silver currency, paper money to be loaned to borrowers at a low rate of interest, (one and one tenth per cent. is suggested,) which shall be fully secured by mortgages; and to this he adds that the money may be funded at any time in notes bearing one per cent. interest. He argues, that on this basis all may obtain loans at an easy rate; that money will be furnished in quantities just sufficient to supply the wants of the people, and no more; that expansions and contractions in the amount of money, and fluctuations in the rate of interest, will not occur; and that finally the laboring classes will save the difference between the high and low rates of interest, so that a more equal distribution of wealth will be the result, and consequently individual independence, intelligence, and virtue be established. We must leave to our readers to study the plan for themselves. We do not feel inclined to express an opinion on this part of the work. It must be studied by practical minds, and tested by experience. At the same time, we can say that it presents many appearances of practicability; and the objections to it on that point, if they exist, must arise from some latent defects which we have not been able to discover. Aa objection to its adoption, however, is raised in our mind: Where is the clause in the Constitution by virtue of which Congress can establish such an institution? We find no such express clause, and no implied power of Congress seems to touch the case. Then, by article X. of the amendments, powers not delegated to the United States are expressly reserved to the States respectively, or to the people. It is admitted that the States cannot create the institution proposed by the author, and it would seem, therefore, as if the people had not seen fit to confer upon either the Federal or State Governments the power which is required in the case.

The Half Century; or a History of Changes that have taken place, and Events that have transpired, chiefly in the United States, between 1800 and 1850. With an Introduction by MARK HOPKINS, D.D. By EMERSON Davis, D.D. Boston: Tappan & Whittemore.

We opened this volume with a strong anticipation that we should find it a valuable book of reference. This anticipation was founded on the favorable report we had heard of the intelligence and accuracy of its author, Dr. Davis, and on the well-known character of President Hopkins, by whom the volume is introduced and commended to the public. The design is certainly a worthy one, of placing on record an outline of the great events which have marked the foremost half century in the annals of the world; and could such a design be faithfully executed, a volume might be made which would constitute a book of most valuable and convenient reference through the half century to come.

We are, however, obliged to confess that we are greatly disappointed in the character of the book, for we find it to be, not indeed valueless, but

far less valuable than we hoped. The author has unfortunately, though we suspect quite unconsciously, greatly underrated the task which he attempted to perform. The last fifty years have in reality been marked by a far greater variety of events than he seems to be aware of, and their importance is not at all according to the several gradations to which he assigns them. That he should have confined himself mainly to the United States is certainly very proper; but it is by no means proper that he should limit his statistics and general views so nearly as he has done to the progress of a single class of public interests. The work is far the fullest in those chapters which relate to the progress of the various forms of Christianity, and of Christian benevolence and philanthropy, yet in one of these chapters we find the space devoted to the American Board and its missions larger than that devoted to all the other missionary organizations of the country put together. The missions of the Baptists are spoken of as being still under the direction of the old Triennial Convention; the division of the denomination North and South, and the formation of the Southern Convention, are items which seem never to have reached the author. The dissensions into which Congregationalists have fallen are chronicled in full, but the wonderful spread of the Roman Catholics is entirely omitted. The good deeds which come from Congregationalism or Presbyterianism are very properly mentioned under their appropriate heads; but those relating to other branches of the Christian church are seldom noticed. These omissions we do not refer to as acts of intentional injustice, but simply as illustrations, selected from an immense number in the volume, of the narrow sphere to which the author has limited his observations and inquiries. The truth is, he has accustomed himself to look upon his own denomination as if it were the whole Christian public, and he seldom thinks it worth while to inquire very particularly what takes place beyond its limits.

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Of the statistics which the volume does contain, many are valuable, though we are surprised to find so many that are not worth preserving. Had one third of these statistics been left out altogether, and an equal amount inserted relating to topics to which the author has not even alluded, the book would have had greater value. We notice, also, an occasional inaccuracy in facts or dates, of a character which makes us fear that we could easily detect others, had we time to look for them. For example, at the very beginning of the work, in noticing the first election of Mr. Jefferson to the Presidency, one of the earliest events of the century, he says: Jefferson was elected by a majority of eight votes," &c. Now it is well known that Mr. Jefferson was elected, not by electoral votes, but by the House of Representatives after thirty-five ballotings, in which the vote is always taken by Stutes. On the thirty-sixth ballot, Mr. Jefferson had ten States, Mr. Burr four States, and the votes of two States were equally divided, and were given in blank. The reader can readily judge how incorrect is the text which we have quoted. Again, we take another example which we chance to have observed. Under the head of Hospitals for the Insane, he says: "Rhode-Island has received a legacy of $30,000 from the estate of Mr. Butler of Providence towards the erection of a lunatic asylum, which is now in progress." Nearly every fact and allusion involved in this sentence is erroneous. "The Butler Hospital for the Insane" in Rhode-Island is not in "progress," but it has been in successful and most beneficient operation for four years. It has no connection with the State Government, but owes its origin entirely to a bequest ($30,000) of the late Hon. Nicholas Brown, who died in 1841. To this bequest was added by the late Cyrus Butler, Esq., during his life, the sum of $40,000, given on condition that $50,000 more should be raised by subscription. The facts in these two instances prove to be very different

from the statements of our author. Errors in matters so familiar as these very naturally awaken surprise, and make us apprehensive that even in matters which he has noticed, he has not always been at sufficient pains to insure perfect accuracy.

The chronicler of the Half Century should be of no sect, and of no party. He should look simply at the interests and the triumphs of humanity, and should note in the record which he makes only those agencies and events that have arrested the attention of mankind, and hastened or retarded the march of civilization. We are sorry to find that our author does not possess this character, and that he has on this account failed entirely to do justice to the enterprise which he undertook to perform.

A Copious and Critical Latin-English Lexicon, founded on the Larger LatinGerman Lexicon of Dr. William Freund; with Additions and Corrections from the Lexicons of Gesner, Facciolati, Scheller, Georges, etc. By E. A. ANDREWS, LL.D. New-York: Harper & Brothers.

Dr. William Freund, of Breslau, is one of the foremost of the great philologists who have appeared in Germany since the present century began. His large Latin-German Lexicon, which is the basis of the work now before us, was published at Leipsic in four volumes 4to, between the years 1834 and 1845, and immediately assumed a place in the highest rank of Latin Lexicons. So soon as this great work was completed, and we believe even before the publication of its closing volume, Professor Andrews, the American editor, formed the design of constructing upon it as a basis a smaller work designed for schools and colleges in the United States and England, and which should embrace the results of all the important contributions which have lately been made to philological science. He began to compare the definitions and etymologies of its words with those contained in the great Lexicons of Facciolati, Gesner, and the others, and uniting with his labors the aid of seven of the leading philologists of this country, has at length produced the admirable Lexicon now before us-a most worthy monument of years of toil, and care, and study, more minute and vexatious, more wearisome and harassing than is ever to be encountered in other walks of literature. The labor of translating the several parts of the work has been shared, as is stated in the editor's preface, between Professor R. D. C. Robbins, of Middlebury College, Vermont, and Professor William W. Turner, of the Union Theological Seminary, NewYork. Both these gentlemen are most favorably known as Latin scholars and as general philologists. By the former were translated the words between A and C inclusive, and by the latter the words between D and Z inclusive. The original preface of the author, which contains an elaborate disquisition on the nature and history of the Latin tongue, was translated by President Woolsey of Yale College. The remaining care and labor bestowed upon the work, which were employed mainly in collating and comparing the several parts with those of other Lexicons, were furnished by the editor himself, with the assistance of a learned friend whose services he distinctly mentions, but whose name he does not give.

In this manner has been produced a Latin-English Lexicon, which does the highest honor to American scholarship, and will, we have no doubt, become an important means of raising that scholarship to a still higher point of excellence and accuracy. Bailey's translation of the great Lexicon of Forcellini and Facciolati must still sometimes be consulted by the scholar who would know all the meanings of which a Latin word is susceptible; but for all the ordinary purposes of Latin study, whether at school