The morning call., 1893-10-21
TALKS.
Lectures on the Dismal
Science.
THE UNIVERSITY EXTENSION
Professor Plehn Tells What Would
Happen if Every Family Saved
Nickel Day.

Professor Carl Plenn gave nie ntes VI
course of nine lectures on POLITICAL econo-
my at the Mark Hopkins Institute OF Art
last evening before largo and appre-
ciative audience.
The gaudily frescoed ballroom. the
largest room in the Hopkins mansion.
proved inadequate to accommodate an
those who desired to learn the principles
of the ''dismal science"
On nine successive Friday nights these
lectures on political economy are TO DO
given. They are parts OF the university
course of lectures on various subjects that
will ba given at the institute during the
season.
Preceding the delivery of the lecture last
evening William D. Armes, secretary LOT
the University extension work, explained
the nature of these courses
"They are not part of the University ex-
tension work." said be, 'but are free lee
lures, of university grade. given by uni
yersity professors for the benefit OF those
unable to take the regular courses at
Berkeley, at the request OF the directors OF
the Art Institute. Visitors VIII At az t
times be welcome, unless the Dumber OF
students enrolled for the entire course ana
pledged to pass the examination should De
so large az to make it necessary to dscrlm-
mate between them. In that case the stu
dents will be given the preference.
Professor Plehn began his opening lee
ture by the statement that the study OF po-
ltlcal economy gives at once the severest
mental disci pliDe and the highest practical
utility. There is no study, said he, so we'll
adapted to broaden our views and deepen
our sympathies as that of political econ
oiny.
Then he pointed out some of the falla-
ot,x6 xry;l
of them is the popular Idea regarding
wealth. Men welcome wars and disasters
as giving work to the needy. because they
have no definite knowledge Of the real
meaning of work.
The sometimes cruelty and ofttimes fail
ure of charity he instanced as one Of these
fallacies. The sure and widespread evils
of waste was another. Under the last
head Professor Plebn instaDced the facts
that the food wasted In one day in all the
hotels, clubs and restaurants OF San Fran
cisco would feed all The hungry ones in
California for whole year, aud that II
every family in the world would only save
cents day In its domestic expenditures
the result would be a total yearly income
of 81, 900 100000.
political economy teaches us that we
are not isolated or independent in our So
cial existence, and that our actions effect
directly and indirectly all others.
'There has come time when the hap
piness and welfare Of the individul de-
pend upon an accurate conception of this
most important branch of human knowl-
| edge"
The lecturer then traced the growth of
political economy as a science, beginning
| with the disappearance of the feudal sys-
tenn and the esta blishment of the monarch
| ical States at the close Of the sixteenth
century. At that period the chief question
1 pf inin
dustry. had been almost wholly aban-
I doDed. and the circulating medium was
not adequate to the demands of the m ore
enlightened communities. Then came the
influx of gold and silver from America,
and the nations of Europe We'd with one
another in securing their share of ii. The
| economists of those days favored exports
and sought to discourage importatI ons.
hoping that the balance of trade would be
| paid in currency.
| In the eighteenth century an entirely
new system of economy came into exist
| ence. Philosophers called the State a
| contract entered into by the governed for
their protection. This view of the case
made the Stale a necessary evil, and de-
clared that It's functions should be as re-
| stricled as possible. This is now called
the laissez-faire or let alone policy. and
rests upon that system of reasoning which
deduces facts from principles rather than
| pTlHclpleS from ldCLS.
Up 10 this time political economy was
not recognized as an independent science,
but considered rs a par Of ethics or phil
osophy. Then came Adam Smith with his
Inquiry Into the Nature and Causes of
the Wealth OF Nations" Though he
scarcely claimed for ii an independent
place among the sciences. his book enabled
1t to assume such a station, and since thai
time the phases Of political economy have
been studied on basis entirely its own.
The modern economist realizes that a
study Of the science must begin with care.
full observation and scientifically collected
data. Abstractions from general princl-
Piles will not do. Human life cannot be
experimen ed with. and for this reason all
the socialistic colonies have failed and will
continue to fail The true method of in
quiry Is that based upon historic re-
search and accurate observations OF cur
rent phases.
political economies cannot lose sight of
ethics" said the professor. He touched
upon Rcardo's iron law of wages and upon
Malthus' population fallacy, but explained
neither in this discourse.
Professor Plehn has a clear-cut delivery
and is withaI an interesting lecturer hay-
| ing the unusual power 10 make lecture
on political economy almost ain ng.
His second lecture will be given next Fri
0av evening.