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
