the working classes in the name of political economy, just as the "cursed-be-Ham" clergymen used to preach the divine sanction of slavery in the name of Christianity. In so far as the real turning questions of the day are concerned, political economy seems to be considered by most of its professors as a scientific justification of all that is, and by the convenient formula of supply and demand they seem to mean some method which Providence has of fixing the rate of wages so that it can never by any action of the employed be increased. Nor is it merely ignorant pretenders who thus degrade the name and terms of political economy. This character has been so firmly stamped upon the science itself as currently held and taught that not even men like John Stuart Mill have been able to emancipate themselves. Even the intellectually courageous have shrunk from laying stress upon principles which might threaten great vested interests; while others, less scrupulous, have exercised their ingenuity in eliminating from the science everything which could offend those interests. Take the best and most extensively circulated text-books. While they insist upon freedom for capital, while they justify on the ground of utility the selfish greed that seeks to pile fortune on fortune, and the niggard spirit that steels the heart to the wail of distress, what sign of substantial promise do they hold out to the workingman save that he should refrain from rearing children?
What can we expect when hands that should offer bread thus hold out a stone? Is it in human nature that the masses of men, vaguely but keenly conscious of the injustice of existing social conditions, feeling that they are somehow cramped and hurt, without knowing what cramps and hurts them, should welcome truth in this partial form; that they should take to a science which, as it is presented to them, seems but to justify injustice, to canonize selfishness by throwing around it the halo of utility, and to present Herod rather than Vincent de Paul as the typical benefactor of humanity? Is it to be wondered at that they should turn in their ignorance to the absurdities of protection and the crazy theories generally designated by the name of socialism?
I have lingered to inquire why political economy has in popular apprehension acquired the character of indefiniteness, abstruseness, and selfishness, merely that I may be the better able to convince you that none of these qualities properly belong to it. I want to draw you to its study by showing you how clear and simple and beneficent a science it is, or rather should be.
Although political economy deals with various and complicated phenomena, yet they are phenomena which may be resolved into simple elements, and which are but the manifestations of familiar principles. The premises from which it makes its deductions are truths of which we are all conscious and upon which in everyday life we constantly base our reasoning and our actions. Its processes, which consist
