The daily morning journal and courier., 1898-12-28

ECONOMIC ASSOCIATION HERE
Continued from Third Page.)

it belongs, and 1t is there, also that the advice of economic experts counts for most It is not an accident that so much of the careful study of problems of finance and administration is to-day dealing with matters of municipal gov ernment; it is consequence of that in- creased standardization of administrative power which gives the expert a fair chance But the reform is not likely to stop at that point. Whatever we may think of imperialism as senti- ment or of national expansion as poli cy-and l was one of those who looked | upon them with regret-thesa are things l to which we are already committed. This policy brings new problems of ad- ministration upon us as nation, and renders it more than before to study the art of national government When we were only governing ourselves we could leave congress to make what laws 1 it pleased, and trust to the good sense and political education of the American l people to prevent irreparable damage. But we now have to deal with people who have not this good sense and this political education. More than that we have to deal with them in the sight of all the world, and in the face of hos | tile powers who will be only too ready to make our misgovernment pretext for interference. We can no longer content ourselves with the laxness of l method which has characterized our dealings with the inhabitants of our western territories.
 l The need of an efficient army will of itself make it necessary to give more in- dependence to the administration and more opportunity to it's expert advisers. l The need for a government of our new colonies which shall recognize the prin- ciple of trusteeship rather than of spo- liation must conduce yet more strongly toward the same results. The need of increased public revenue to meet our larger administrative expenditures will render it necessary to subordinate the demands of the several districts to the general necessities of the country. With no colonies and a small army we could do what we pleased with our hev- enue bills.
 With larger possessions and larger ne- cessities for defense, they must be framed by responsible administration on sound economic basis.
 Just how this change of government al methods will come about no one can venture to predict. That we shall adopt the English system of cabinet responsibility seems unlikely; but that
 we shall adopt some system which will cause the different branches of our gov-
 ernment to operate Tremendously is a
 foregone conclusion. The alternative is
 national disgrace, if not national ruin. Here is the opportunity for the younger
 economists of the country If their
 study is worth anything it will give
 them broader range of data on
 which to work and a clearer perception
 of consequences for the future. It will
 put them in a position of advantage in giving advice The more responsible
 the government the more certain is it to
 take such advice. do not say that
 the opportunity to become advisors and
 leaders of national policy should be
 sought by economists as their sole duty or to the neglect of their other public responsibilities. I do not undervaIue } for moment the importance of eco l homie theory. I have the highest con.
 ception of the work of our economists
 as teachers of science. But I believe
 that their largest opportunity in tht immediate future lies not in theories
 but in practice not with students bu /, with statesmen, not in the education 0,
 individual citizens, however widespread
 and salutary, but in the leadership O.
 an organized body polite.
 At the close of the meeting all th
 guests In response to aN invitation re
 paired to the elegant residence of Prof | Henry w. Farnam at t3 Hillhouse ave , nue, where an informal reception wa D held. The guests were given the free ;, dom of the spacious house. The deco D rattons were very tasty and beautiful palms and potted plants being used i s abundance, Refreshments were served ' Among those in attendance at the meet r ing and reception were Thomas G. Sher man of New York, Prof. Henry (
 Adams of the University of Pennsylva nia, Prof. John B. Clarke of Columbia 7, Prof John R. Commons of Syracuse
 Prof Cummings of Harvard, Pro
 Gray of Northwestern university, Pro Hull of Cornell Prof. F. w. Moore .a Yale 'S6, of Vanderbilt university, Pro
 w. F. Wilcox of Cornell, Dr. Devine C
 the New York Charitable Organizatio
 society Prof. Gardner of Brown, Pro
 N. P. Gilman of Meadvill, Dr. Holland = CT of Johns Hopkins, Prof. Keasly ,. Bryn Mawr Prof. Mayo-Smith of G SC lumbia, Prof. Taussig of Harvard, Pro 1t Dewey of Institute of Technology
 Boston, Dr. Green of Hartford, Pro
 Jenks of Cornell, Prof. Seligman of Go
 lumbia, Prof. Rowe of University
 Pennsylvania, Prof. Hart of Harvart Id Prof. Turner of University of Wiscor of sin, Prof. Charles H. Haskins of Un " versity of Wisconsin, Prof. Nor: :, Stephens of Cornell, Prof. Adams ,, Johns Hopkins Prof. Vincent of Johr "a Hopkins, Prof. Mcdonald of Bowdoil n Prof. Jameson of Brown, Prof. Jacl is son of New York university. Prof Bow Ia en of Western Reserve university, Al is drew Mcfarland Davis of Cambridg .,k England; c. H. Livermore of Brookly ss president of American Historical ass, nv citation and R. S. Thwaits of the Wi