Knowledge that Transforms

In another place 1 the present writer has attempted to summarize the positions and tendencies exhibited in several late important economic treatises in their reference to certain leading and stategic doctrinal questions. Something of the same sort will be here undertaken with regard to Professor Seligman's newly published treatise.2 Profits.The remuneration of the entrepreneur, or the man who carries on the enterprise, is called profit. Among them, wages, rent or interest, and profits exhaust the whole income. (P. 352.) Profits are the income from business enterprise. (P. 353.)

The subject of munlicipal ownership has of late assumed a new importance in this country. In view of recent events, no one interested in either the safety of private capital or the efficiency of municipal administration can close his eyes to the fact that a great socialistic agitation is upon us, which may result in far-reaching economic changes. A spirit of unrest and largely a spirit of destructiveness is abroad in the land. The money power and the bosses' power are alike objects of popular aversion and attack. Capital looks aghast at the possibilities of destruction which lie in its path, while the professional manipulator of votes and of parties trembles lest his occupation be gone. Socialistic doctrines are finding new adherents and the professional agitator is winning new recruits. Witness, in this connection, the growth of the combined Socialistic and Socialistic-Labor votes in the three last presidential elections: in i896 it was 36,274 -a negligible quantity; in 1900 it was I27,5 53-an increase of over 250 per cent. in four years; in I904 it was 426,376-an increase of 234 per cent. in four years, and of over I,OOO per cent. in eight years-an average increase of more than I 33 per cent. a year. To these forces, professedly and vioilently soicialistic, have noNw been added vast numbers of other persons, many wellintentioned, who, without consciously adopting the doctrines of socialism, are giving public affairs a decided impetus in that direction.

Edith Abbott and Sophonisba P. Breckinridge. Legislative control of women's work / Sophonisba P. Breckinridge. Statutory regulations of women's employment / Frank P. Mies.