Hamilton, Alexander

Report of the Secretary of the Treasury, on the Subject of Manufactures, made the Fifth of December, 1791. Washington, D.C.: Printed by R. C. Weightman, 1809

8vo (8 3/8 x 5 in.; 218 x 130 mm).  Text browning throughout, text offsetting to blank verso of title-page and final text leaf. Modern half calf over marbled boards, spine lettered gilt.

Acquisition: Bauman Rare Books

Ford, Bibliotheca Hamiltoniana 204; Shaw & Shoemaker 19064; see Howes H123

8vo (8 3/8 x 5 in.; 218 x 130 mm). Text browning throughout, text offsetting to blank verso of title-page and final text leaf. Modern half calf over marbled boards, spine lettered gilt.
In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. Since we are not professional conservators or restorers, we urge you to consult with a restorer or conservator of your choice who will be better able to provide a detailed, professional report. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective qualified opinion.
NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING CONDITION OF A LOT, ALL LOTS ARE OFFERED AND SOLD "AS IS" IN ACCORDANCE WITH THE CONDITIONS OF SALE PRINTED IN THE CATALOGUE.

"One of the great American state papers" (Howes) — "A remarkably modern economic vision" (Gilder Lehrman Institute of American History Online Archive). The second American edition (and fourth edition overall). After passage of the Mint Act, Hamilton began to focus on his fourth major Treasury report, the controversial On the Subject of Manufactures, which he delivered to the House of Representatives in December, 1791. Unlike his previous reports, On the Subject of Manufactures addressed the future of the nation's economic prosperity, rather than immediate economic concerns.

His report constituted "a policy document that made specific and concrete proposals for government action" (Douglas A. Irwin, The Aftermath of Hamilton's "Report on Manufactures"). A cardinal feature of the report was the proposal that protection be given to infant industries through prohibition of rival imports but exemption of raw materials essential to home manufactures; high import duties—which had the added merit of producing revenue—encouragement of inventions; and governmental inspection of manufactured commodities to prevent frauds, cheats, and inferior quality from being imposed on consumers. He also strongly recommended the creation of a national highway system and a national system of canals for the swift and economical transport of goods from one region to another. Anticipating objections from Jefferson and the Jeffersonians, Hamilton acknowledged that agriculture fostered "a state most favorable to the freedom and independence of the human mind," but the main thrust of his argument demonstrated that interdependence of agriculture and manufacturing, of farmer and artificer, would benefit both.

In the end, the House tabled the report. "The proposals it contained were so wide-ranging and far ahead of their time that it comes as no surprise that nothing came of his... legislative recommendations. But his report remained a source of ready reference and a mother lode of ideas for all who came after him who would urge government programs to aid and encourage American industry, agricultural technology, transportaton, manufactures, mining, interstate highways, canals, and capital formation" (Hendrikson, Hamilton II:95).