The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1896-02-28
THE SOURCES OF WEALTH.
Mr. w. M. Coles Interesting Lecture Last
Evening-The First in Proposed Univer-
sity Extension Course.

AT Assembly hall In the High schoo
building. last evening, occurred the hrs
University Extension lecture, by Mr.. W.
M. Cole, in the proposed course OF six
lectures on "The Causes of the Unequa
| Distribution of Wealth." This first lee
ture was free. The title was 9Th
Sources of Wealth.. -
There was an excellent attendance. Mr.
Cole began by giving the function of pc
litical economy and its limitations. II
pointed out the distinction between sci
ence and an art. The relation of coo
Monies to governments is the relation OF
a science to an art. Just as astronomy
opened the way for the science of naviga
tion and just as physiology does for by
giene and therapeutics SO economics pre-
pares the way for politics or the art Of
government.
He insisted rather strenuously that eco
nomics has no attitude whatever toward
any policy. One man would apply roliti-
cal economy and advocate free trade, and
another will apply it and advocate pro-
lection. It's sole function is to furnish
the understanding of principles BY which
the man who has certain conditions to
start with and certain aim to attain
may learn how to attain that end
The question was put to Mr.. Cole after
his lecture in Saco the other night, why
one man should be II protectionists and
another free trader, it political economy
had not attitude toward either policy.
The answer was that the two men inter-
preted conditions differently or wished
to bring about different ends.
MIR. Cole discussed the three agents in
the production of wealth, labor, land and
capital. The earth furnishes as much
more than we realize. 1t furnishes not
only material, but also every force.
Of labor, he made the point that the
only thing man does is simply to move
things and that even the brain force
which he seems to add Its rally not an
addition to nature, but merely O wise
understanding of what natilre has already
furnished man. Thereupon we must be
very careful not to oyerestimate labor s
influence in the production Of wealth.
OF capital he said that it is true that
capital is not necessary to production but
that few of US until we come to try the
experiment., realize how nearly necessary
1t is, under modern methods nothing that
we do today in ordinary life would be
possible If some one somewhere had not
consumed less that he produced and
had devoted that saving to assist further
production. Capital is the result of the
consumption of wealth, that is to say. il
is never the result of boarding, but only
of using, and thus consuming wealth al
ready in existence iii order to produce
more. In view of the fact that this leo
ture was given largely to introduce uni
versity extension and without the assur-
ance that the people who would wish ul-
timately to attend the course we're pres
emit, it was thought wise to make the lee
ture largely Introductory, and therefore
to save the vital points in the discussion
Of the causes of the unequal distribution
of wealth for the remaining lectures of
the course.
After every lecture on University Eek
tension an informal discussion is held,
and this occurred last night. A talk on
University Extension methods and aims
was given by Mr.. Cole.
Mr.. Cole is the son Of Mr.. and Mrs.
Albert B. Cole of this city.