Daniel Raymond, 1786-1849.

Baltimore lawyer and author of  an early textbook of the "American System" school, arguably the first formal economics treatise by an American..

Originating from Connecticut, Daniel Raymond was educated in the Tapping Reeve School of Law in Litchfield Connecticut. Raymond moved to Baltimore in 1814 to established his law practice.

Raymond wrote his Thoughts on Political Economy (1820), partly to wile away the idle hours of his law practice. Raymond was dissatisfied with British and Continental economic literature, which seemed to be too tailored to the specific structures of European economies and did not apply in the United States. Raymond dismisses the concern with distribution that had focused the attention of the British Classicals, and instead proposes to focus on "national wealth".  Raymond defines "national wealth" as the productive capacity of the economy, and separates it from the actual goods produced or property possessed  (he calls these "individual wealth", (p.26)).  In the main part of his treatise, Raymond argued for protectionism and government promotion of "national wealth". 

Raymond's textbook sold out quickly, going through several more editions.  Raymond was hailed by "American System"  Whigs, and assailed by their critics.  In 1822, Pennsylvania merchant Matthew Carey (Henry Carey's father) offered to endow a chair in political economy at the University of Maryland specifically for Raymond (the offer was ignored)   Although Raymond's influence was initially limited to these circles, Raymond would nonetheless be highly influential on authors who spent time in America during the 1820s, like John Rae and especially Friedrich List, who will carry these ideas back to Europe, and develop them further. Via this route, Raymond became very influential upon the German Historical school and, through them, the American Historicists of the late 19th Century.

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