The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1899-11-24
DIR. ELY'S LIFE WORK.
One of the Greatest CycIopedic
Ventures of the Age.
EXHIBIT OF THINGS ECONOMIC.

The Initial Volume of the Series Soon to
Appear, Though, the Work a Whole
Will Not BE Completed for Years An
Interesting Character at the Uniyer-
sity of acknowledgements cofield Go
ing to Idaho to Live.
Madison, Wis, Nov. 21.-What prom
Uses to be one of the greatest CYCLIC
pedic ventures in this particularly
cyclopedic age is the forthcoming Citi-
zens' Library of Economics, Politics
and Sociology, to be edited by Profess
sOr Richard L. Ely, head of the de-
partment of economics and history at
the University of Wisconsin. The
whole vast complicated field of eco
nOmic thought is to be covered in as
complete and exhaustive d manner as
the present status of the dismal sci
ence" permits of. The research work
of specialists in economic lines in the
past, the present and the future is to
be gathered together into one MASSEY
whole by the editor and his assist
ants, thus giving to the world in APP
proXimate completeness the actual
progress made in the study of econOm-
les and the actual results accom-
plished.
The publication of this massive
work, which is undertaken by the Har-
pers, will occupy many years, and
very possibly may never see compile
ton, since the economic prospect is
an ever broadening one in the deepen
ing, thickening, bewildering complex
ity Of modern life. But so far as it
goes it is the intention of the editor
tomake it complete, exhaustive, though
as far as possible, a popular eXposi-
ton of things economic.
DR.. Ely will devote to this work the
balance of his life, and his successor,
whom the doctor will probably name,
will take up and carry forward this
great enterprise.
In one department of the cyclOpedia
entitled redistribution of Wealth." will
soon appear the initial volume of the
series; a work which is to treat fully
the question of trusts and monopolies.
In the Introductory chapter of this
book DR.. Ely speaks of monopoly, in
effect, as follows: "Monopoly means
the unity of action on the part of in
terested parties in any line of bust
ness, so as to give to some extent,
though not altogether, control of
price" Further he cOmbats the So
cialistic theory that competition will
in the end prove it's own destroyer
He says there is no such thing as a
monopoly dependent for it's existence
upon mere aggregation of capital, and
that the trust problem means merely
the securing from combinations the
advantages resultant with increased
capacity for production, and decrease
of waste. He contends that no anti
trust laws can successfully cope with
the trust evil as it actually and natur-
ally exists.
An Interesting Character from the Orient.
Attracted to the University of Wis
consin largely by the presence there Of
Professor Richard 7. Ely, who had
learned by correspondence something
of the character Of the man and his
work. Mr.. Masasada Shiozawa has
won for himself rather unusual dis
tinction. His first performance, while
still an undergraduate student at the
Imperial University of Japan, was the
compilation of a history ancient, me-
diaeval and modern of Europe, for the
use of the secondary schools in his
own country. He then engaged him
self with a translation into Japanese
Of one of DR.. Ely's books, "Outlines
Of Economies Then followed
translation of a prominent German
work on a similar subject. A close
study of Dr. Ely's books settled him in
the belief Of the ultimate truth of the
rsults of the doctors labOriOus and
long-cOntinued Investigations in the
economic field, decided him to come
to America and get into a closer touch
with one whom he regarded as mas
ter. Upon the completion of the thesis
with which he is now engaged, and
which he is developing into book
ga Social and Political History of
Japan"-he will receive from the Uni
versity of Wisconsin the degree of
Phi. D.
Mr.. ShiOZaWa comes from the old
but now nOn-eXistant order of feudal
knights. He has been broadly and
thoroughly educated; student and
scholar by the necessity of his own
nature: a finished gentleman; aristo-
cratic in the truest sense, yet nobly
democratic in all his ways. On his
departure for America he was hon.
ored by a farewell dinner by Marquis
Ito, who shortly afterward became the
premier of the Mikado's empire.
The Klondike Baby.
Born in Dawson City, Jan. 3, 1899,
a few hours before the mothers death,
Mae EldoraGo Edyren has the distinc-
ton of being the first white child born
in the KlOndike country. Taken in
charge at birth by a samaritan foster
mother. DR.. Mary e. Mosely of Bos
ton, the only woman physician in
Alaska: transferred thence to the care
of Mrs. John Mcdonald, who was
returning to Seattle, and there given
III charge to an aunt who had gone
from Madison to Seattle to receive the
precious mite, and carried thence to
Madison, where now she lives with her
grandparents. Captain and Mrs.
James Bennett, the dainty Miss Edy-
rem little realizes the strange and sad
interest that attaches to her young
life
AS parting gifts to the Polar-born
child the miners and prospectors Of
Dawson City came down handsomely
with Oold dl1St n11ppntS Canta in