p. 281.

soon without territory as with it, more safe, more dur- know an instance of the expression of a different opinable, and vastly more honorable to us, the great re- ion, in either house of Congress, since. public of the world.

The servitude of so great a portion of the population of But we hear gentlemen say, we must have some ter- the South is undoubtedly regarded at the North as a ritory, the people demand it. I deny it; at least, I see great evil, moral and political; and the discussions no proof of it whatever.-Ibid., Vol. V,

upon it which have recently taken place in the legislaSir, I fear we are not yet arrived at the beginning of tures of several of the slaveholding States have been the end. I pretend to see but little of the future, and read with very deep interest. But it is regarded, neverthat little affords no gratification. All I can scan is theless, as an evil, the remedy for which lies with those contention, strife, and agitation. Before we obtain a legislatures themselves, to be provided and applied perfect right to conquered territory, there must be a according to their own sense of policy and duty.cession. A cession can only be made by treaty. No Webster's Works, Vol. VI, p. 536. treaty can pass the Senate, tiil the Constitution is overthrown, without the consent of two-thirds of its mem

In 1850, in regard to the danger to the Union bers. Now who can shut his eyes to the great prob- from the slavery question, he said: ability of a successful resistance to any treaty of

These consequences I willingly meet, these dangers cession, from one quarter of the Senate or another?

I encounter without hesitation; being resolved to Will the North consent to a treaty bringing in terri- throw myself, with whatever weight may belong to tory subject to slavery? Will the South consent to a

me, unreservedly into the scale of UNION. Where treaty bringing in territory from which slavery is ex

Washington led, I am willing to follow, at a vast discluded? Sir, the future is full of difficulties and full tance, indeed, and with unequal, but no faltering of dangers. We are suffering to pass the golden op- steps.- Webster's Works, Vol. VI, p. 550. portunity for securing harmony and the stability of the Constitution. We appear to me to be rushing upon

With a few extracts from Webster's famous perils headlong, and with our eyes wide open. But I “Seventh of March” speech, our little picture put my trust in Providence, and in that good sense of Webster must be called finished: and patriotism of the people, which will yet, I hope,

I wish to speak to-day, not as a Massachusetts man, be awakened before it is too late.-Ibid., Vol. V, p.

nor as a Northern man, but as an American, and a 261.

member of the Senate of the United States.... It In arguing on the tariff, July, 1846, he said, is not to be denied that we live in the midst of strong

agitations, and surrounded by very considerable danThe Northwestern States are destined to be manu

gers to our institutions and government. The imprisfacturing States. They have iron and coal. They oned winds are let loose. The East, the North, and the have a people of laborious habits. They have already stormy South combine to throw the whole sea into comcapital enough to begin works such as belong to new

motion, to toss its billows to the skies, and disclose its States and new communities; and when the time profoundest depths. ... Now, Sir, upon the comes, and it cannot but come soon, they will see their

general nature and influence of slavery there exists a true interest to be, to feed the Northern and Eastern

wide difference of opinion between the northern pormanufacturers, as far as they may require it, and in

tion of this country and the southern. It is said on the the mean timne begin to vary their own occupations,

one side, that ... slavery is a wrong; that it is by having classes of men amongst them who are not

founded merely in the right of the strongest; ... of the now universal agricultural population. The

[In the South.] There are thousands of religious men, sooner they begin this work the better; and begin it

with consciences as tender as any of their brethren at they will, because they are an intelligent and active

the North, who do not see the unlawfulness of slavery: people, and cannot fail to see in what direction their

But we must view things as they are. Slavery true interest lies. - Webster's Works, Vol. V, p. 233.

does exist in the United States. It did exist in the

States before the adoption of this Constitution, and at In a letter to Mr. Bolton, of Georgia, in

that time. 1833, Webster uses this language in regard to

Now, as to California and New Mexico, I hold slavery slavery:

to be excluded from those territories by a law even In my opinion, the domestic slavery of the Southern superior to that which admits and sanctions it in Texas. States is a subject within the exclusive control of the I mean the law of nature, of physical geography, the States themselves; and this, I am sure, is the opinion of law of the formation of the earth.... I should be the whole North. Congress has no authority to inter unwilling to receive from the legislature of Massafere in the emancipation of slaves, or in the treatment chusetts any instructions to present resolutions exof them in any of the States. This was so resolved in pressive of any opinion whatever on the subject of the House of Representatives, when Congress sat in slavery, ..., for two reasons: first, because I do this City in 1790, on the report of a committee consisting not consider that the legislature of Massachusetts has almost entirely of Northern members; and I do not anything to do with it; and next, because I do not con

in part:

sider that I, as her representative here, have anything president? (9) What did Webster think about the to do with it,

tariff? (10) Did Webster understand Jackson? (11)

What did Webster think of Free Masonry? Why? Then, Sir, there are the Abolition societies, of which

(12) Write an essay about Webster basing it upon the I am unwilling to speak, but in regard to which I have extracts from his private letters. very clear notions and opinions. I do not think them (1) For what thought especially does Webster stand in useful. I think their operations for the last twenty

American politics? (2) Bring together all the expres

sions that prove your conclusion. (3) What doctrine years have produced nothing good or valuable.. did he combat in regard to the public lands? (4) I hear with distress and anguish the word "secession,” Why? Can you expand upon his argument? (5) What

position did he take in regard to the press? (6) In what especially when it falls from the lips of those who are

ways may it be corrupted? (7) What do you think in patriotic, and known to the country, and known all regard to the duty of newspapers? (8) What remedy over the world, for their political services. Secession! would Webster suggest? Peaceable secession! Sir, your eyes and mine are never

(1) What arguments did Webster use in regard to

the doctrine of nullification? (2) Trace his arguments destined to see that miracle. .. A voluntary sep- in regard to the nature of the Constitution. (3) Whom aration, without alimony on one side and on the other. did he mean by “the people"? (4) Compare his argu. Why? What would be the result? Where is the line ments for the Constitution with Clay's. to be drawn? What States are to secede? What is to

(1) Analyze Webster's_speech on Greece. (2) Com

pare it with Clay's. (3) Which was the more eloquent? remain American? What am I to be? An American

(4) Which one the more argumentative? (5) What lead. no longer? Where is the flag of the republic to remain ? ing thought had each in mind ? And now, Mr. President, instead of speaking of the

(1) Discuss Webster's views about the appointing possibility or utility of secession, instead of dwelling

power. (2) About the right to remove offices. (8)

What evils did he find in the method then practiced ? in those caverns of darkness, instead of groping with (4) What was his remedy? (5) Would the remedy have those ideas so full of all that is horrid and horrible, led to other evils, in your opinion? (6) What did Weblet us come out into the light of day; let us enjoy the

ster believe in regard to a national bank? (7) State his. fresh air of Liberty and Union; let us cherish those

opinion in regard to the causes of the crisis of 1834.

(8) Can you find an expression in his private letters hopes that belong to us; let us devote ourselves to those

that seems to contradict his public speech on this quesgreat objects that are fit for our consideration and our tion? (9) What was to be the result of the destruction action; let us raise our conceptions to the magnitude

of the Bank? (10) Was his prediction verified ? and the importance of the duties that devolve upon us;

(1) What did Webster believe in regard to slavery

(2) In regard to the rights of the slave master? (8) În let our comprehension be as broad as the country for regard to the rights of the states over slavery? (4) In which we act, our aspirations as high as its certain regard to the rights of the United States over slavery? destiny; let us not be pigmies in a case that calls for (5) How would he settle the issue? (6) Was his idea men.- Webster's Works, Vol. V, pp. 325, 330, 333, 350,

practical? (7) Did his "Seventh of March" speech

have a different tone from earlier speeches? 356, 357, 361, 365.

(1) What did he think about annexing new territory? QUESTIONS

(2) State his arguments. (3) Would they be applicable

now? (4) Were he living would he probably support (1) What peculiar point do you notice in the first ex- or oppose the annexation of the Philippines? (5) tract? (2) What is said of Webster as a student? (3) Choose the passages you believe justify your concluWhat was his method of work? (4! What does he lay sion, down as a rule necessary to follow for success? (5) (1) What passage do you believe to be his most eloHow did he regard democracy in the early years of his quent one? Why? (2) Make out a series of “outlines,” public life? (6) How did he regard Calhoun? (7) How one for each topic treated. Adams? (8) Whom did the Federalists support for

H. W. CALDWELL.

Studies in Economics
IV.- Nages.

the existence of two classes of industrial persons We have seen that the exigencies of compli- --(1) those who are more identified with the cated production have brought it about that forward movement of the times and with prodifferent parties vie with each other for shares ducing the changes that are continually taking of the exchanged values. In other words, in place in industry, and (2) those who are concases of co-operation of many producers, where

tented to follow antiquated methods as nearly each person does not make or possess separately

as the newly created conditions will permit. It the article which is sold, it becomes a compli- is impossible to discuss the income of one of cated question to determine what is his share in these classes separately from that of the other. the sale.

They must vary inversely with respect to each in order to settle this question with simplicity other, since they both contend for a common and deliberateness, it has been usual to assume fund. What is true of a single business, in this respect, is also true of industrial society taken ients of a calculated fund. There is in this as a whole. Since the income of each industry conception nothing determined; everything is is what it receives in exchange, and since what submitted to the arbitrary volition of capitalall industries receive is nothing other than the ists. Let us draw the lines closer. total of what all produce and give in exchange, The capitalist, it is said, will be led by his it follows that the total income is equal to the desire for accumulation to invest all that his total production. Since, however, we can draw standard of living does not cause him to reno inference in any industry from the physical serve for himself, and thus to employ laborers. amount produced as to what will be the amount The reality of this law is confirmed by appeal brought in by exchange, we are driven to seek to experience, the narrowness of profits in the standards which are not physical. The process business world showing that it is no arbitrary of value-adjustment is precisely analogous to deduction that capitalists make from the prodthe process of clearing bank checks in a clear- uct of labor and capital in determining the ing-house: the amount of the debits is always residue that shall go to labor. precisely equal to that of the credits, so that the Leaving for a moment the study of the fund, total amount after liquidation is neither greater we may pause to consider whether the nonnor less than that which existed when clearing progressive classes are destitute of all process of began; but the different banks find their rela- calculation, whereby, from their side, they may tive balances changed.

affect the share of each worker. If a laboring This total income of society may theoretically man makes an invention which increases the be so divided as to increase the balance to the social production, he is apt thereby to cease to credit of either the progressive or the non-pro- be a laboring man and to come to be associated gressive class. Our framework is large enough with the profit-taking classes. Under the calto allow of either alternative, and if one class culations of laborers as such we can not include is favored, that must be the result of special those nice inquiries into the world-supplies of causes. Into these it is now our duty to in- grain; those nice adjustments of interest on quire and by a gradual process to narrow the ' securities, of arbitration, of exchange; those theoretical limitations on the height of wages. prolonged and expensive inquiries into indus

The very fact that the non-progressive classes trial chemistry; those refined adjustments of the do not foresee, calculate, wait, and accumulate, exactly proper proportions of materials, of is sufficient to show that, notwithstanding that machinery, of processes, of foremen, of skilled their participation in production is actual, and, and unskilled labors, which characterize the if you will, meritorious, nevertheless their higher mental consciousness of the progressive share of social income is somewhat passive. classes. It is not so passive as is rent, for rent does not The laborers are, however, not without theoretically correspond to any effort of pro- conscious or subconscious calculations. They duction at all; but it is more passive than must perceive that if they are too numerous profit, for it corresponds to animal rather than they will compete against themselves, and to psychic activities.

hence they will naturally move from place to Hence it was that it became customary to place in search of a locality where there is less look upon laborers as the recipients of a fund competition of laborers, and more competition or residual paid to them after employers had of employers. They must perceive that they reserved their profits, and, according to some,

and their children will find competition of emafter rents also had been deducted. It is true ployers for labor more active in the skilled that Mill said that profit was what was left over employments which require education. They after wages had been paid; but he also said that must perceive that ability to change one's trade investment took place after capitalists had re- is a most potent means of escaping the comserved what they chose for their own use. We petition of other laborers. General convictions thus arrive at the very simple conception of a along these lines can not fail to permeate the fortuitous mass of laborers who are the recip- mass of wage-workers, and to influence their

conduct, especially in the multiplication of the analogy of the clearing house is complete; their numbers and in the education of their what the classes take away after liquidation is children. Their sentiments are, however, only equal to what they brought before, only it is too often directed towards affecting the con- differently distributed. Hence those are wrong duct of others, rather than towards modifying who imagine that the fund disposable in paytheir own conduct. While perfect organization ment of particular wages is composed of the of labor is highly desirable for the sake of the material or tangible additions which individual exact adjustment and smooth working of our laborers make to production. On the contrary, industrial economy, laborers make a mistake if if there be, at a given moment, a great demand they think that, apart from special cases, the for labor, there is no reason why the laborers whole amount “reserved” by employers as should not receive a part of the addition to the wages for their own services would greatly raise products of industry due to the skill of invention the average if added to the income of laborers. and management, and to the strength of char

The existence of different trades complicates acter that waits. The non-progressive may parthe conception of competition among laborers. take in the fruits of Time. Hence it is generIn very many cases laborers can not move from ally wrong to say that capital and labor are one trade to another. Capital, however, may enemies. In a North River tow the tug-boat be roughly assumed to have this mobility. reaches the Erie Basin a long way ahead of the Hence, within such trades, wages must depend canal boats and barges that it has assisted on entirely upon the available capital; and as this their voyage; but the latter would have made will fluctuate with the activity of the trade, poor progress if their owners had been content wages will tend to fluctuate correspondingly to let them float down the river with wind and without any counteracting competition from tide. The fund, therefore, devoted to the paynew laborers moving into the group, or non- ment of wages is no stationary amount, but is competition because of old laborers moving continually augmented by progress, and forms out of it. The development of capitalistic in- a part of the general fund which is better dustry, however, is tending to decrease the thought of as the income of society. rigor of the specialization of labor, while the It is true that if we do not take any length spread of education tends to give the laborer of Time into consideration, the conception of a more flexibility and enterprise. The demand fund does become more static. A rise in the for labor is becoming more and more a demand money wages of laborers will cause a greater for trustworthiness. Employers ask, “Is this demand for laborers' commodities; but as those man one whom I can trust to tend a delicate commodities can not be supposed to be sudand valuable machine?” no matter what the denly increased in quantity, it follows that machine makes. Thus there is coming to be their price will rise, and that the real income considerable reality in the conception of a gen- of the laborers will not be increased. eral fund of capital offered to a general class of If, however, Time intervenes, the higher money laborers.

wages will call forth a greater production The truth of the conception lies, however, of laborers' commodities, their price will fall, rather in the generality of the relation between and laborers' real wages will rise correspondcapital and laborers than in the definiteness of ingly. The element of Time, therefore, gives the fund. While the laborers are non-pro- opportunity for full play of the calculations of gressive, the fund itself is increased by the pro- employers. In the case supposed, employers gressive activities that control it. We saw that having more need for laborers were willing to the income of all businesses added together is pay them more highly, and the lapse of a short equal to the total production of all businesses. time was necessary to realize their expectations. In the same way, it is true that the income of The more carefully the subject is considered, all classes when added together is equal to the the more clearly it will be seen that in spite of production of all classes; and this again is equal all the difficulties which may exist in the way to the production of all businesses. Here again of a clear perception of the laws which govern

LABOR

wages, it is certainly true that employers have of wages and of value by tracing the influence no arbitrary discretion in the matter of paying of necessary labor or “cost.” wages. It is true the employers possess the

TOPIC X. legal title and management of the means of

THE WAGES THE FARMER HAS TO PAY FOR COMMON payment and of the machinery and buildings; and that the calculations are made and the

(a) If the price of produce is high and hence apparbookkeeping is cared for in their offices. It is

ently remunerative to the farmer, will that enable the but natural that the law should have confided

laborer to compel the farmer to pay higher wages ? the responsibility for the care and management Could higher wages long be forced up in farming, while of these weighty matters to the hands of the mining and other similar pursuits pay less? calculating and responsible classes in which, in (6) To what extent are the wages independent of

those in the other employments ? point of fact, it found them; for the funda

(c) To what extent will greater industry on the part mental and controlling utilities in the case are

of farm laborers raise their wages at once, and ultieconomic and not legal. The law simply crys- mately? To what extent will agricultural improve tallizes the industrial facts as it finds them. ments do so? Will they raise or lower wages? Whose

The legal possession, in the hands of capital- wages ? ists, must not lead us into the grave error of

(di To what extent will high cost to the laborer of

his living enable him to force up wages? thinking that capitalists are at liberty to do

(e) What effect will the number of laborers applying what they please with what they may call their

for employment have upon their wages? Could there own. It is to be presumed that they are at one be many in farming and few in spinning at the same with the laborers on at least one point; both time? How long a period do you mean by “at the parties are engaged in a common purpose of

same time" ?

(f) Can there be at the same time high cost of living industrial production. They therefore desire the

to farm hands and low cost to spinners, or vice versa ? highest efficiency. Their self interest, therefore, (g) Do improvements in agriculture raise spinners' compels them to reward effort in proportion to wages, or farm hands' wages? efficiency. Doubtless the duty of deciding who

REFERENCES: is efficient has been assigned to the parties in

Marshall (Summary on Efficiency), Bk. VI., Ch. XI., whose minds the elements of Time and Space esp. V. I., p. 752; also Chs. I.-V. have received the highest recognition, for such

Ricardo, Ch. VI., esp. @ p. 92 (Bohn's Ed.), Ch. V.

Hadley, Ch. X. persons are most competent to perceive what Walker, Part IV., Ch. V. actions do and what do not further a most ad

Mill, Bk. II., Ch. II. and Ch. V., SS 4-5; (Machinery,

Efficiency) Bk. I., Chs. VI., IX. vantageous combination of these elements. If, Taussig, Wages and Capital, Chs. I.-II.

Cairnes, Part II., Ch. I. however, possession and calculation were in

Boehm-Bawerk, Bk. VII., Ch. II. the hands of the laborers, or of the state, the

TOPIC XI. apportionment of income among the classes would be the same. In other words, capital

THE WAGES THE MANUFACTURERS OF SPOOL COTTON

HAVE TO PAY FOR COMMON SPINNERS and labor, whether in the largest sense or in the sense of particular industries or businesses,

(a) Does the fact that the spinner does not cultivate

the soil like the farm hand put him at a disadvantage must, in the long run, be remunerated accord

with respect to the latter in obtaining food? Does he ing to their efficiency.

have an advantage in obtaining spool cotton ? “Efficiency” is not, however, a simple term. (6) Do the foregoing considerations furnish us with It is to labor precisely what the term “value” is any grounds for looking upon all “day-labor" in whatto commodities. Just as value is an equilibrium

ever employment as a class possessing common inter

ests and fortunes? between the respective desires of exchangers, so

(c) In cotton spinning does a larger volume of busiis efficiency an equilibrium between the re- ness decrease the price of cotton? How about agrispective efforts of producers. In the case of culture? Does the difference affect the foregoing efficiency, as in the case of value, if it is abso- reasoning?

(dDo improvements in spinning machinery benefit lutely necessary to apply a large amount of

spinners, employers, or farm hands? Immediate and work, that amount of labor must be repaid.

ultimate effects. Hence we might further expound the theories (e) Will a rise in money wages of spinners immedi.