Page:The Biographical Dictionary of America, vol. 02.djvu/134

 CARDOZO.

CAREY.

CARDOZO, Isaac Newton, journalist, was boru iu Savannali, Ga., June 17, 1786. His par- ents removed in 1794 to Charleston, S. C, where he received his education. In 1816 he became the editor of the Southern Patriot, a Charleston paper, of which he also became proprietor in 1833. He sold this journal in 1845 and established the Evening News, on which he served for several years as commercial editor. He was a close stu- dent of political economy, and numerous articles from his pen on that subject appeared in various periodicals of the time. He was an able and enthusiastic advocate of free trade, and a fear- less opponent of the nullification movement. His Notes on Political Economy were publisiied at Charleston in 1826. He was drownad in James river, Va., Aug. 26. 1850.

CAREY, Henry Charles, political economist, was born in Philadelpliia, Pa., Dec. 15, 1793; son of Matthew Carey, publisher. He was a bookseller in his father's store and was sent to New York to attend a trade-sale when only nine years old and when eleven had charge of a branch book- store carried on by his father in Balti- more. On Jan. 1, 1817, he became a partner with his father as M. Carey & Son ; subsequently the firm became Carey, Lea & Blanchard. He retiree from business in 1836 leaving Lea & Blanchai'i to continue the publishing business. In 1835 meeting with the lectures of Nassau W. Senior, and think- ing Senior in error, he published in refuta- tion his Essay on the Rate of Wages. This was followed in 1830 by The Harmony of Nature, which when printed he found tliat he could not publish as a presentation of his then actual views, and the entire edition, with the exception of, perhaps, less than a dozen copies, was destroyed. His Principles of Political Economy was published between 1837 and 1840. The first volume, in which he promulgated his theory of value, immediately attracted the atten- tion of the economists of Europe, and especially of Professor Ferrai'a, of Turin, where the wliole treatise was translated into Italian and published. The Credit System in France, Great Britain, and the United States (1838), taken from the second volume, has been characterized as " his masterly theory of the banking system." Mr. Carey regarded the financial panic of 1837-'42 as

a-U'^. —

the result of Mr. Clay's compromise tariff act of 1833, forced upon the country by the nullification movements of South Carolina. " Up to this time," says Dr. Elder, "Mr. Carey had been, as he supposed, a free trader; but, in the closing months of 1842, seeing the wonderful change effected by the protective tariff then in opera- tion, he became a practical protectionist and voted for Mr. Clay in 1844, but was still unable to rec- oncile protection with any economic theory. In 1848 he published Past, Present and Future, a book that marks an era in tl>e history of political economy. He did an immense amovint of almost continuous work in newspapers, magazines, pam- phlets and books from this time forward to the close of his life. In 1857, and again in 1859, Mr. Carey made extended tours in Europe, where he made the personal acquaintance of many of the eminent men of the time, including Humboldt, Liebig, Cavour, Count Sclopis, Professor Ferrara, Sir John Barnard Byles, J. Stuart Mill and others. In 1856 he assisted in the organization of the Republican party, and was a member of the con- vention that nominated Fremont and Dayton. During the war he was repeatedly in consulta- tion with President Lincoln and Secretary Chase. For many years he was a member of the Wistar club, and in the winter of 1862-'63 he was one of the organizers and original members of the Union club, which superseded the Wistar parties, at the same time taking part in the organization of the Union league, which grew out of the Union club. In 1863 the honorary degree of LL.D. was conferred upon him by the University of the city of New York. In his greatest work, Principles of Social Science (1858-'60), Mr. Carey places the crown upon his system in the demonstration of the fact of the over-mastering necessity of man's association with his fellow-men; money he recognizes and treats as the instrvmient of association, and hence his determined opposition to, and condemnation of, the policy of resmiiption of specie payments by contraction, and his urgent advocacy of the remonetization of the silver dollar in 1878. His last production, written within a year of his death, was entitled Repudiation : Past, Present, and Future, and was published in the Penn Monthly Magazine in 1879. His chief works have been translated into French, German, Italian, Swedish, Russian, Magj'ar, Japanese and Portu- guese. The complete copy of his works in all the different languages, bequeathed by him to the University of Pennsylvania, is comprised in forty-two volumes, mostly octavos. In 1854, at the commencement of the Crimean war, he put the New York Tribune, to which he was then a constant contributor, into the attitude of siding with Russia, which indirectly resulted in Russia