Imagens das páginas

a proposition to amend the Constitution, so as to provide for the initiation, repeal and approval or rejection of laws.

According to the resolution, no law enacted by the legislature by less than a three-fourth vote was to go into effect until four months from the date of its passage, and if, during that time, a petition signed by a certain proportion of the electors of the State (between fifteen and thirty per cent, to be determined by a later law) was presented to the Secretary of State, urging that this law be submitted to the electors of the State at the next general election, it was not to go into effect before such an election; but was to be voted for at that election, and, if it received a majority of all the votes cast, it was to be a law; otherwise, not.

According to the resolution, a certain proportion of the electors of the State (between twenty and forty per cent as afterward to be decided) was to have the right to propose laws and to petition for the repeal of laws already in force, and the question of the enactment of the new or the repeal of the old law was to be decided at the next general election. No law enacted by the people was to be subject to repeal or amendment by the legislature.

This resolution was read the first time on Februry 13, 1893. It was read the second time on the following day, and was referred to the Committee on Elections, of which Senator J. W. Leedy was chairman. On February 20 the committee reported it with the recommendation that it be passed; but it never came up for a vote on account of the trouble in regard to the organization of the House, which cut down the working days of the session to eleven days. This resolution, which is to be submitted again this winter, was endorsed by the Omaha National Populist Party Convention, the Kansas Populist Party State Convention and the Kansas State Alliance.

SIR HENRY MEYSEY-THOMPSON recently offered a bimetallic prize of a silver cup or silver plate, value £25, and 25 in sovereigns, for the paper which should point out most clearly and plainly: (1) The great loss and injury which is being inflicted on the producers of England by the extraordinary rise in the value of gold as compared with that of silver during the last twenty years, consequent on changes in the laws regulating the use of gold and silver as money in various countries. (2) The immense temptation and inducement which this rise in the value of gold holds out to capitalists in silver using countries, to develop their coal mines, and to erect machinery for the purpose of supplying themselves and other silver using countries

with the manufactured articles which England has long been in the habit of supplying them with. (3) That in the competitive manufacturing industries of the world this divergence of value between gold and silver must inevitably lead to the substitution of the cheap labor of silver using countries for the more highly paid labor of gold using ones, a substitution which is already rapidly taking place, and which, unless some international agreement is come to at once, must lead to the ruin of many English industries, and the throwing out of employment of tens of thousands of English workmen.

Announcement is made that this prize has been awarded to Mr. George Jamieson, H. B. M.'s Consul-General for China, at Shanghai. Arrangements for the publication of the paper have not been made as yet.



The Economics Department of the Philadelphia Summer Meeting was notable alike for the scientific value of its lecture courses and for the excellent quality of its membership. Sixty special students, chiefly college instructors and university graduate students, were present during the four weeks of the meeting, devoting their time to lectures, social interchange of views and informal discussions. The courses were from three to fifteen lectures in length, insuring to each of the lecturers an opportunity to give satisfactory expression to the ideas which he held it of prime importance for advanced students of economics to consider. The special advantage of such a meeting lies in the repeated opportunity to question the lecturer and to discuss his views both in private and in the class-room. With a picked

audience like that of the Summer Meeting, the economist may express himself more freely and intelligibly than in print, and more fully and effectively than in the associations and gatherings in which but an hour or two at most can be devoted to each subject. The following is a synopsis of the lecture courses:

I-MONEY. By E. Benjamin Andrews, LL. D., President of Brown University. Five Lectures-July 16–20. (1) Money and the Times; (2) England's Monetary Experiment in India; (3) "Counter" and Quality in Monetary Theory; (4) What Fixes Prices; (5) Labor as a Standard of Value.

II-DISTRIBUTION. By J. B. Clark, Ph. D., Professor of Political Economy in Amherst College, and Lecturer in Johns Hopkins University. Ten Lectures-July 2-13. (1) Normal Distribution equivalent to Proportionate Production; (2) The Relation of the Law of Value to the Law of Wages and Interest; (3) The Social Law of Value; (4) Groups and Sub-groups in Industrial Society; (5) The Nature of Capital and the Source of Wages and Interest; (6) The Static Law of Distribution; (7) Dynamic Forces and their Effects; (8) The Origin and the Distribution of Normal Profits; (9) Trusts and Public Policy; (10) Labor Unions and Public Policy.

III-SCIENTIFIC SUBDIVISION OF POLITICAL ECONOMY. By F. H. Giddings, A. M., Professor of Sociology in Columbia College. Five

Lectures—July 2-7. (1) The Conception and Definition of Political Economy; (2) The Concepts of Utility, Cost and Value; (3) The Theory of Consumption; (4) The Theory of Production; (5) The Theory of Relative Values.

IV-THEORIES OF POPULATION. By Arthur T. Hadley, M. A., Professor of Political Economy in Yale University. Three LecturesJuly 5-6.

V-RELATIONS OF ECONOMICS AND POLITICS. By J. W. Jenks, Ph. D., Professor of Political Economy and Civil and Social Institutions in Cornell University. Five Lectures-July 16–20 (1) The Nature and Scope of Economics and of Politics Compared; (2) Influence of Economic Conditions upon Political Constitutions; (3) The Influence of Economic Conditions and Theories upon Certain Social and Legal Institutions not Primarily Political; (4) The Influence of Present Economic Conditions and Beliefs upon Present Political Methods and Doctrine; (5) The Political Reforms that would be of Most Economic Advantage.

VI-ETHNICAL BASIS FOR SOCIAL PROGRESS IN THE UNITED STATES. By Richmond Mayo-Smith, Ph. D., Professor of Political Economy and Social Science in Columbia College. Three LecturesJuly 24-26. (1) Theories of Mixture of Races and Nationalities and Application to the United States; (2) Assimilating Influence of Climate and Intermarriages; (3) Assimilating Influence of Social Environment.

VII-INTRODUCTION TO DYNAMIC ECONOMICS. By Simon N. Patten, Ph. D., Professor of Political Economy in the University of Pennsylvania. Fifteen Lectures-July 9-27.

VIII-PUBLIC FINANCE. By Edwin R. A. Seligman, Ph. D., Professor of Political Economy and Finance in Columbia College. Five Lectures-July 23-27. (1) The Development of Taxation; (2) The Effects of Taxation; (3) The Basis of Taxation; (4) The Principles of Taxation; (5) The Single Tax.

It is expected that the substance of Courses II and III will be published at an early date, the first constituting Part I of Professor Clark's eagerly expected work on Distribution, the other embodying the outline of Professor Giddings' system of political economy, which will be received with the more interest because of the fact that in accepting the chair of sociology at Columbia College he turns aside for the present from the formal teaching of this subject.

Aside from the courses outlined above, Professor J. B. Macmaster delivered four lectures on American economic history, and there were several interesting addresses on special subjects, notably those by President Andrews on the Brussels International Monetary Conference; by

Professor Clark on the Ideal Standard of Value and on the Elementary Teaching of Economics; by Professor Giddings on the Money Question and on Methods of Teaching Political Economy, and by Professor Simon N. Patten on Political Economy in Elementary Schools. The address last mentioned aroused so much interest that there was an urgent demand for its publication, and with some modifications it is printed in the present number of the ANNALS.*

On the whole the experiment has proved so successful that it is hoped that a similar series of courses can be arranged for the next meeting in the field of politics, and that the University Extension authorities may be able to arrange for a second economic program within a few years. A comparison of the course outlined above with any that could have been secured from the economics departments of American Universities even ten years ago would strongly emphasize the advance of this decade.


The sixth annual convention of the Association of Colleges and Preparatory Schools in the Middle States and Maryland was held at the Johns Hopkins University, Baltimore, on November 30 and December 1.

The topic which was first discussed was "The Place and Teaching of History and Politics in School and College." Professor Herbert B. Adams, of Johns Hopkins University, opening the discussion by a paper entitled "Is History Past Politics?" He urged the prominent if not predominating position which the political aspects of history must inevitably assume. The close relation and interdependence of history and politics was illustrated in the life and teachings of Professor Lieber, of Columbia College, and by the methods pursued at the Johns Hopkins University.

Professor James Harvey Robinson, of the University of Pennsylvania, followed Professor Adams, reading a paper upon the "Use of the Sources in Teaching History." Emphasis was laid upon the absence in our colleges and universities of any opportunity for the student to cultivate his critical faculties in the use of books and in the interpretation of written records. This in itself would seem to justify, it was urged, some reference to the sources of our knowledge of historical facts. The student is encouraged blindly to accept facts as presented to him in a textbook. He never thinks of asking for proofs,

*"Economics for the Elementary Schools,"

« AnteriorContinuar »