The state herald., 1890-10-17
! su.ss At LAno..s .,DDI.
a Sesk That Iilsmiass osr Modern Ia.
dustrlal Lifn,

a eUHss At LAnoR,s RIDDLl.
a ssst That alsmisss osr Medsra IL.
dustrial Lie,
Especial Washington Lsttsr.l
sThis will come to 10 accepted a. ono
Oft great books Of this generation.
So spoke Major Powell, director of the
United States Geological Survey, and
one Of our most thoughtful public men.
He was speaking OF DR.. Van Buren,
Denslow's volume entitled Principles
Of Economic Philosophy" Senator
Ingalls, has expressed the same opinion,
and Senator Blaine remarked TO the
author "you have hit the nail on the
head.
Senator Casey, Of North Dakota. 70.
Gently wrote brother Senator. u find
that this book contains all the merit
with which you accredited 1t, and shall
at once purchase copy for my own
library"
Nowhere else, In my Of the multi.
farious political economics Of our time.
are the questions OF our prevailing life
so intelligently discussed. To Professor
Denslow's conclusions ON the tariff there
will be dissent; but his treatment Of the
difficulties which Il presents is so lucid
and SO fair a. to challenge the admira-
tion Of those who can not accept the out.
come Of his logic.
On the general relations Of capital and
labor the work Is an encyclopaedia, COM
pact and comprehensive. The method
of It is above praise. Indeed, we do
not remember any other book on these
desiccated topics, unlessit be the treatises
Of Herbert Spencer, whose style Is 20
ascinating-facts marshaled with grace
and illuminated with fancy. Its, more
over, repletc with information illustfat.
ing every branch Of economics, SO tire.
mendous In amount that II must have
been the accumulation Of life Of In
tense study. The reader meets with
delightful surprises ut every paragraph,
whether he agrees or disagrees with the
conclusion reached by the author.
DR.. Denslow now lives in New York,
but he is best known as journalist.
For half q generation he was the chief
editorial writer on the Chicago Tribune,
and his brilliant and voluminous work
is an important factor in the history Of
that paper.
Following are some Of the headings Of
the Economic Philosophy:
Socialism; Ownership by the Tribe;
Wealth Dependent on Exchange; Can
Poverty 10 Abolished, Whence Comes
Value; How Prices are Made, Land
Grants, Capital and Labor Partners;
Does Risk of Loss Give Valid Title to
Profit; Wealth Causes Production;
Getting Rich is Doing Good; Capital as
an Emancipation; Wages are Capital;
True Cause of Rent; The Wage Fund"
Doctrine; Labor Agitations; Machinery;
The Margin of Profit; What is Money;
Whence Come Panicsi Competitions
These titles are suggestive; but it will
perhaps be more interesting to the reader
to copy the last two pages Of this re-
markable contribution to tho solution Of
current problems:
"The reader should also be admonishei
agaias. the sophistry Of assuming that
simplicity and even beauty in the state
ment Of policy are to be mistaken for
simplicity and beauty in Its operation.
a policy which may be extremely sim
pie In its statement may be infinitely
complex and painful in its operation.
On the contrary, policy which may be
rs full Of entanglements In its state
ments US fort Is of buttresses and RAM
parts, may be us delightfully."- direct and
simple In its operation MS that fort Is
on IN invading foe. Hcrors decree.
XIII all the babes under two Year, OF
age;' Solomon's decree, Divide the babe
equally between the two women who
claim to be its motlier;' the Russian
Cars decree. Bald tho railway from
st. Petersburg to Moscow In the straight
line between those citieB NJ now draw
my pencil;' aud the compromise tariff
decree Of 1888 In the United States, Re-
ducc tho tariff 10 per cent each alter
nate year until it stands Mt 90 per cent.
all around wero models Of simplicity In
their statement. but OF complicated bar
BART. and multifarious torture In their
operation.
But time would not avail to caution
the student against the multifarious
forms which fallacy may assume Fal.
lacy, like fraud, deiles accurate deiini.
ton In advance by wearing new cont
every time It appears, Hence II Il that
economic works, however ample. truth
full, md explicit may DO their content,--
and very few OF them nre either ample,
truthful, or explicit-can never brace
tho student certainly and finally against
error They are useful In cultivaiing
the habit Of detecting error. but In their
Use there must arise the new men who
ure ser than the old books. and who
are Us the new wine that can not b held
IN the old bottles. Such men will see In
each cxigency. as It shall arise. the facts
which distinguish 1t from all preceding
cases, and will detect In advance that
right way which books can only point
out after II has been trod. These pho.
neen In industry and In legislation are
| the actual economists, who stand In
like relation to tho science as the great
lawyers do to the law. They absorb its
past learning. but they mold its future
| quality. So. nfter economists have
written, and all that books can teach
has boon said, II remains that political
econ my, or tho science OF man In SOC.
ETY., IS u pnrt Of tho process Of the con.
tinual radiation Of new truth by new
minds II comes 10y psrpctually RI.
newed Inspiration. As hsli by tho best
instructed minds. II will not he identical
with the instruction they received. l,-
latest life will always have found iis
suggestion. but never Its exact form. IN
books. II eau not cease TO 10 proccss
Of emanation or Of evolution. To this
extent. as DR.. Henry c. Carey was wont
10 say. political economists can make
books. but books eau never make politi.
cal economists. Il must b. In the man
80 must all art, power. Inspiration. md
success But not In ono man absolutely.