25 Pages

"the capital

Thus, while arguing against Senior's "restricted system of Political Economy," he points out that "it is necessary that individuals should be permitted to exert some degree of authority over the disposal of property in the event of their death, and this being admitted, it follows that all the knotty questions respecting conditions in wills, the influence of primogeniture and entails compared with the system of equal partition, and so forth, come legitimately within the scope of the enquiries belonging to this science, the economist being bound to show the bearing of each system that may be proposed over the production and distribution of wealth." 2

While holding that Government should interfere as little as possible in economic matters, he notes that it ''must decide in regard to the property of those who die intestate and the effect to be given to the directions in wills and testaments."3 McCulloch, therefore,-and the point is interesting-does not deduce complete freedom of bequest as a logical corollary of the individualism which he advocates.