Index

S., 91; taxes on, 299 Bills of exchange, 98, 241 Bimetallism, 66 Bolshevism, 590, 598 Bonds, as investments, 162; taxation of, 292 Boycott, 347 Building and loan associations, 169-174 Business cycle, 142 C California Fruit Exchange, 468 Canadian Industrial Disputes Act, 373, 375 Canals, 478 Capitalistic monopoly, 507 Charitable distribution, 583 Capitalization theory of crises, 153 Charity, and control of vice, 383 Child-labor, 362-364 Christian socialism, 588 Clayton-Act, 537; and farmers, 445 Closed shop, see Open shop Coal, 569 Coinage on governmental account, 44 Collective bargaining, 343 Combinations, industrial, 513 Common law, on monopoly, 524 Comparative advantages, doctrine of, 233 Compensated gold dollar, 84 Compensation, for accidents, 403 Competition among employers, 339; among workers, 344; and monopoly, 522; as regulative principle, 535; merits of, 579; see also Monopoly Competitive system, 552 Compulsory insurance, 413; economy of, 204 Consolidation, of railroads, 495 Consumers' League, 367 Contributory principle in insurance, 414 Cooperation, producers', 333-336; among farmers, 467—470 Corporation taxation, 298—303 Corporations, 509-511 Costs of production, and the tariff, 223; 262 Crises, and industrial depressions, 138—157; 266; and unemployment, 394, 396 Custom, 553-555 607 608 INDEX Debts, public, 275 Deferred payments, standard of, 54-69 Deposits, bank, 94-98 Dingley Act, 221 Discrimination, railroad, 484-487; see also Monopoly Displacement theory of immigration, 428 Distribution of incomes, 574-587 Doctrine of comparative advantages, 233 Dollar, 38, 40 Dynamic conditions, 148 E Economic, harmonies, 592; problems, 3-10; system, the present, 542-557 Employment offices, 393 Engels, Friedrich, 591, 592 Erdman act, 372 Eugenics, 419, 433 Factory conditions, 379-380 Farm, loans, 472 Farmers' income, 452; Mutual insurance, 183 Farming, types of, 460-465 Farms, area, 457 Federal Farm Loan Act, 472 Federal Industrial Commission, 520 Federal legislation against mo· nopoly, 529 Federal Reserve Act, 98, 117-137, 155, 174 Federal taxation, 295 Federal Trade Commission Act, 537 Fiat money, 51 Finance, public, 270 Foreign, banking, 115, 121; trade, 230; exchange, 242 Forests, 442, 566-568 Fractional coins, 39 Franchises, railroad, 493; for public utilities, 564 Free trade, 208, 555; see also Protective tariff G Gambling, uneconomic character of.

177 General property tax, see Property Glass-Owen bill, 117 Glut theories of crises, 151 Gold-exchange standard, 47 Gold, production, 60-64; 79, 80 Graduation principle, 303, 311 Greenbacks, 49, 52, 64 Gresham's law, 41 Guild socialism, 598 Health insurance, 409-411 "High cost of living," 80 Home market argument, 253 Housing problem, 384-386 Hours and wages, public regulation of, 358-378 Immigrants, and organized labor, 339 Immigration, and low wages, 370; and population, 418-437; and farming, 465 Imports into the U. S. chart, 212, 213, 224 Income, taxation, by states, 307, federal, 308-316 Independent treasury, 108 Index numbers, chart, 56 Industrial revenues of government, 274; remuneration, methods of, 321; monopoly, problem of, 505; trust, 532; depressions, see Crises Infant industry argument, 251 INDEX 609 Inheritance, taxes, 304-306; limitations of, 549 Insurance, 176-204; companies, taxes on, 299; social, 398-416 Interest rate, and deferred payments, 85; and prices, 244; in crises, 147 Internal revenue, 216, 295 International exchange, equation of, 236 International trade, 230-245 Interstate Commerce Act, 496; 529, 530, 531 Invalidity pensions, 406 Investment banking, 162 I. W. W., 597 Justice in deferred payments, 81; in taxation, 281 Knights of Labor, 341 L Labor, and legislation, 340; and social legislation, 379-397; exchanges, see Employment offices Laissezfaire, 555, 558, 560 Land, taxation, 296-298; banks, 470 Large production, in public utilities, 563 Large industry, 511 Lassalle, Ferdinand, 591 Legal tender, 48 Loans, governmental, 275 Lump of labor notion, 359 M McKinle¡y Act, 219 Market, public, 561 Materialistic philosophy, 592 Marx, Karl, 591-596 Mediation, 371 Mercantilism, 256 Merchandise, imports and exports, 238 Militarism, and population, 434 Mill, J. S., 524-550 Minimum wage, 368-370 Monetary economy, 552; system, 37; theory of crises, 152 Money, origin and nature, 11-24; value of, 41-54; quantity theory, 25-35; fiduciary, 36-53 Monopoly, and labor organization, 350; in railroads, 484-487; in protection, 260; industrial, 505521; public policy in respect to, 522-539; in public utilities, 562-564 Mortality table, 192 Mortgage taxation, 292 Municipal ownership, 561 N National ownership, 567 National Monetary Commission, 111, 116 Natural agents, and monopoly, 507 Negro problem, 419-421 Newlands act, 372 Old-age pensions, 406 Open shop, 350 Organized labor, 337-357; and legislation, 374 Ownership of farms, 455 Panic, 139, 142 Paper money, 48-51 Par of exchange, 242 Payne-Aldrich tariff, 223 Personal taxes, 304-317 Picketing, 347 Piece work, 326 Police state, 271 Political, money, 48; aspects of labor, 352; aspect of railroads, 487 610 INDEX Population, agricultural and rural, 441-456; and immigration, 418437 Postal savings, 166-168 Premium plans, 327 Prices, general level, 54-57; market, 535; and international trade, 244; and monopoly, 519 Profit sharing, 329-333 Profits from monopoly, 518 Progressive taxes, see Graduation Property, private, 543-552; taxes on, 279, 289-298 Protection, "true principle" of, 223, 263 Protective, tariff, policy of, 246269; tariffs, prevalence of, 208; railroad rates, 488 Public, finance, 270; view of trade unions, 353; regulation, of hours, 358-378; of railroads, 492-504; ownership, 558-573 Public utility commissions, 494 Public utilities, monopolistic nature* of, 562-564 Q Quantity theory of money, 30-35 R Eace problems, 419 Railroad mileage, 480-481; problem, 477-489; regulation, 490504 Reserve, cities, 110; plan of insurance, 191-204 Reserves, bank, 96; against notes, 124; against deposits, 125 Restraint of trade, see Monopoly Revenue tariff. 24S Revisionism, 594 Rural, definition, 443; exodus, 450 Saturation point of money, 39 Saving, and investment, 158-175 Savings, banks: deposits, 102; insurance assets as, 202 "Scientific" socialism, 591 Seigniorage, 39, 43 Sherman Antitrust law, 448, 449, 529 Shifting and incidence, 252; of insiurance premiums, 363 Single tax, 296 Smith, Adam, 555

Social, legislation, 379; effects of inheritance, 472, 474 Social insurance, 398-416; by trade unions, 340 Social utility, 22 Social welfare, in taxation, 272; and shorter working day, 367 Socialism, 588-604 Standard money, 25, 57; see also Deferred payments State, sphere of, 270; insurance, 413; ownership, 565 Status, distribution by, 575 Strikes, 345, 373 Syndicalism, 597 Tabular standard, 83 Tariff, changes and crises, 149; and wages, 257; and unemployment, 259; reductions, harm of, 266; history, American, 207229; rates, 209; for revenue, 248; "true principle" of, 223, 263; and business depressions, 264 Task work, 325 Taxation, objects and principles of, 270-287; revenues from, 278; kinds of, 279; separation of, 295; system of, 316 Taxes, property and corporation 288-303; personal, 304-317 Tenancy on farms, 458 Time work, 324 Trade education, 387 INDEX 611 Trade unions, 337; see also Organ ized labor Transportation, taxes on, 300; Act of 1920, 502. see also Railroads Trust company, 91, 93 Trust, definition, 512; see Monopoly Two-profits argument, 254 U Underwood tariff, 225 Unemployment, 388-397; in crises, 142, 146; insurance, 411; and tariffs, 259 Unfair practices, 534 Usury laws, 382 W Wage contract, limitation of, 381 Wage-system, 321, 556 Wages, and tariff, 257; and general prices, 81, 346, 359; and organization, 348, 354; and unemployment, 391; and immigration, see Immigration; see also Hours and wages Walker tariff, 215, 265 Waterways, 477 "Wealth of Nations," 553 Wilson tariff act, 220 Working day, 358-367