New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-12-27
DISCUSSING ECONOMIC QUESTIONS
GENERAL FRANCIS \ WALKER REVIEWS THE
DEVELOPMENTS or THE DIST TWO YEARS.

GENERAL FRANCIS \ WALKER REVIEWS THE
DEVELOPMENTS or THE DIST TWO YEARS.
Washington Dec. 2G.-Tlie fourth annual meeting
Of the American Economic Association was begun this
afternoon in the hall Of the Columbian University. In
The absence OF the president General Francis A.
Walker the meeting called 10 order by Professor
J. Il. Clark The first paper read The Con
ccpts of Utility. Value and cost by Professor H.
GiddingS. Of Bryn MaSr College Professor Charles ~
rutlc. Of Amherst College. Mass then read paper on
The Term Wealth in Economic science; study IN
Economic Theory" lie followed by Miss Marietta
Hic>. with paper on The Ethical Principle in In
du~rial Relations Professor J. B. Clark. chairman
of the Committee on Economic Theory, presented the
report Of that committee.
At the evening session FyauciS 4. Walker made an
address. This addre>, surveyed the most important
economic developments within the United states during
TN" TWO years since the association last met in Phila
tcphia The extraordinary growth Of pseudo social
Ism, under the local name Of Natonaism. he at
tributed 10 the fact that the masses Of the people
had at last come 10 appreciate the supreme imp ranco
Of industrial relations but had not yet learned by IA
careful study of history and Of the material conditions
q human existence. within what narrow limits eXcr-
ton- for the ancortiou Of mankind must necessarily
Boz confined.
Regarding the apparent growth Of The single Tax
party, the ,pcaher expressed the opinion that ccono
more 81 economic rent than the stale had been ac-
cu-toIucd 10 exact cOuld advautagcJu,y be brought
into the Treasury while. on the other hand, tho
practical politicians. he more they studied the sub
jet. were more and mor' impressed with thc hope
lc>uc-, Il the project IN view Of The opposition Of the
farmer cla-> and Of the holder, Of small village and
town building lot, 10 Inc rc.l-c of direct taxes.
Mr Walker rcfcr'd - what hc termed the remark
able weakening IN tho present financial crisis 4
many Of those who. through the grrcnhack and the
silver contests. stood most ,tily mp against every
mc.i~uN Of possible imitation. bat who now hal seem
mgv ceased their resistance 10 The further coinage u
silver If they did not actually desire II. He Al
trhut,7l th- largely TO the di-crciilns f the vicv
II the orthodox American economist, ih" subject oi
none, and c~rcchly Of the indifference 10 the money
supply.
The last topic touched upon D., the speaker wa
ua' ~ immigration. the American pe. pie were noE
l,udIy called upon Zoo decide whether there was ANY
limit to The extent t, which thcr would share tnoir
lIrtlr.if with -tra.-.r.. The foreign arrival, had
r-.n irlm tao and ntf millions trtw~'u l-'o ana
f--O - fy. lll .I- between $50 lnd l-1u. Another
.,d" lt ..ht -" FAR A. one could -r. rise 10 ten
~our first duty hc said. "i, 90 oui,cl,c. and our
descendants. Dul p..f tLtt i- o. help. so it - "'
.,U Iu .-In- tl. condition 'f f" oppressed masses
q Tur,r.. ~ ar' rF A'.r-.HrlI. q" DO ini' Dr. i'
,,y,r, their nfcr1nH nfi-rr.ulua but. most %
,i $40. -rpud cnd,atur O.. utac ttI- experiment ot a
fr. commonwealth ot ,iprati la1u tho greatest p'~
-f,l. ..r,-- n tiI, continued dnu.-II ~ d'srt"'l
rs..-,rf. from fio OIL. world would Interfere with th-
great ,,ufA vc ,ll~i upon. NOT lr-- a phllahthr'
r.t- than a- patriot. q" p.i q stop - IL.