The record-union., 1894-01-15
ECONOMIC PRINCIPLES.
The Study Which Holds First Place
in Education.
DR.. Carl Plehn's Lecture Before the
Alumni of the State University
Saturday Evening.

CabdA
The first University extension course
under the auspices of the Alumni OF the
University of California began Saturday
evening at Forester's Hall. The lecturer
was DIR. Carl Plehn of the State Uni
versity.
The hall was well filed by enthusiastic
listeners who evidently intended to profit
by the course, as many were taking copI-
Gus notes.
AS was seen by the printed synopsis
OF the lecture which were Distributed
the lecture was Introductory to the course,
as it treated OF the literature and proper
method of the subject.
The next lecture will be an explana-
ton of the most fundamental ideas, and.
after that, the different lectures will treat
of specific subjects like Rent, Wages,
Relation of Labor to Capital, Currency
and the Tariff.
The object of this course, the lecturer
said. was rather to tell his hearers what
the science was all about, rather than to
teach its dogmaS. One OF Americas most
eminent leaders in education claims tnat
In fitness for a place in an educational
curriculum, economies perhaps surpases
all other studies, through the re-
markable combination which 1t
involves of the severest mental discipline
with the highest practical utility. This
view is correct. The study of this science
demands the highest powers OF the mind.
On the other hand, though II IS a science
and not an art, that IS, we investigate It's
facts and seek the, truth merely tor Its
own sake, regardless of It's worth IN life;
yet, when the subject of our science, as in
this case is so intimately connected with
human life, we must consider that con-
nection also. Hence no study is so well
adapted to broaden our views and deepen
our sympathleS.
Among many other things Of import
ance which economics makes clear are,
first the fallacy or some OF the prevalent
notion of wealth; for instance, that war,
tire or destruction is a blessing in dis
guise because ii makes work; second,
the failure and even positive cruelty OF
much intended charity; third, the sure
and widespread evils of waste, in Illus
tration of which was cited the fact that II
what is wasted in the restaurants and
hotels of San Francisco could be saved, 1t
would probably suffice to feed the un-
employed; fourth, the immense and far
reaching interdependence of individuals,
classes, and even nations; fifth, striking
evidence of Intelligence and benetlcent
law as reigning in the world.
The time has come In Europe and IN
many parts of the United States when
social comfort. to say nothing OF social
progress, depends absolutely on the
knowledge of economic principles and
their application.
The proper attitude of mind in which
to approach this study is that which sees
that social life and the progress of our
race in civilization and wealth constantly
present important problems, which must
be solved, and specific questions, which
can and must be answered, whether prln-
ciples OF universal application can be
found or not. 1t is that attitude OF mind
based on the opinion that any true SCI
ence, however incomplete, is more SER
viceable than no science at all. The efforts
OF ciear-headed thinkers Tor more than
century must have produced results
worthy Of respectful attention. Political
economy is now an acknowledged sci
ence; it has not always been SUCH.
The lecturer traced the gradual devel-
opment Of economic ideas from the earli-
est times down to the beginning of this
century He showed the connection be-
tween the condition of the times and the
different schools of thought. The So
called mercantile school treated special
topics like the currency, the development
OF manufactures, support OF the army,
which were vital to their age. The physl-
OcrdIS Oh lA0 6lRHL6tuIi1 C0nbuly O0fol-
Oped their system III accordance with
their philosophical ideas. They regarded
government as in a certain sense neces-
sary evil. Every important change in
economic scieRce can be accounted for by
some fundamental change IN economic
life.
For those who are interested in the
subject sufficiently to study it further a
number of books were recommended,
the character of which was briefly de-
scribed.
The last part of the lecture was devoted
to discussion of the proper method. The
so-called English school, especially fol-
lowers of Ricardo, Mill and Cairnes, re-
garded the science as abstract. They
treat of an economic man. actuated by
certain assumed motives, adopting this
method for the sake OF stability of this
science and admitting that il is unreal.
The historical method, which tends to re-
gard the science as purely inductive and
concrete, was founded by Roschers The
true method lies In the mean between
these two. The science is relative and
progressive. Different principles apply
to different times and different nations.
For example, Roman slave industry is not
at all like our modern factory system. AS
civilization advances, the science must
advance. \ satisfactory explanation OF
the conditions of life prior TO the intro
ductiOn OF railroads ana Telegraph Will
not apply to the times since then. We
must keep in touch with the facts and use
the complete scientific method, contin-
ually verifying by reference to new facts.
a difficulty in collecting facts arises from
the impossibility of experiment in this
line. We have to rely on historical re-
search and statistical investigation.
The course will be continued every
Saturday for the next eight weeks, and
the professor will give assistance and ad-
vice to any one wishing to make special
study OF the subject.
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