BY CHARLES J. BULLOCK

171
B8

PREFACE

This volume aims to supply the collateral reading needed for a general course of study in economics. It makes no effort to present selections upon all the topics treated in such a course, but endeavors merely to provide supplementary material, historical, descriptive, and theoretical, which will enrich the instruction offered. The footnotes to the several selections disclose the extent of the editor's indebtedness to various authors who have consented to the reproduction of passages from their works. In this place, however, acknowledgment should be made of the helpful advice and criticism received from the editor's colleague, Professor F. W. Taussig, of Harvard University.

CHARLES J. BULLOCK

V

179714

CONTENTS

CHAPTER

PAGE

I. THE EFFECT OF THE PHYSIOGRAPHY OF NORTH AMERICA UPON

MEN OF EUROPEAN ORIGIN. By N. S. Shaler .

1

II. THE SIGNIFICANCE OF THE FRONTIER IN AMERICAN HISTORY. BY

F. J. Turner .

III. THE GROWTH OF CITIES IN THE UNITED STATES. By A. B. Hart

IV. AMERICAN AGRICULTURE

3. The General Characteristics of American Agriculture. By F.

A. Walker..

4. The Future of American Agriculture. By James Wilson .

V. THE ORGANIZATION OF PRODUCTION BEFORE AND AFTER THE INDUS-

TRIAL REVOLUTION

1. Adam Smith's Criticism of the Policy of the Gilds

104

2. Domestic Industry vs. the Factory System.

114

3. The Great Inventions. By Spencer Walpole

125

4. The Growth of the Factory System in the United States

145

VI. THE MANUFACTURING INDUSTRIES OF THE UNITED STATES

1. The Advantages of the United States for Manufacturing Industries

2. The Localization of Industry

155

165

3. The Geographical Distribution of the Various Branches of Manu-

factures

4. The Organization of American Manufactures.

VII. STUDIES OF THE IRON AND COTTON INDUSTRIES

175

184

1. The Iron Industry in the United States. By F. W. Taussig.

2. An International Survey of the Cotton Industry. By Elijah

193

Helm

215

VIII. HUMAN WANTS AND THEIR SATISFACTION

1. Human Wants: A General Survey. By W. E. Hearn.

2. The Theory of Utility. By W. S. Jevons

236

245

CHAPTER

IX. THE LAW OF POPULATION

PAGE

1. The Movement of Population. By G. von Rümelin

2. The Doctrine of Malthus .

255

275

X. THE DIVISION OF LABOR

1. The Views of Adam Smith

287

2. A Criticism. By W. S. Jevons.

298

XI. THE ACCUMULATION OF CAPITAL: SAVING AND SPENDING

1. The Doctrine of Mill

301

2. The Seen and the Unseen. By Frederic Bastiat

307

3. Criticism of the Doctrine of Saving. By J. A. Hobson .

318

XII. THE ORGANIZATION OF EXCHANGE

1. Sturbridge Fair in the Eighteenth Century.

325

2. An English Market Town of the Eighteenth Century

331

3. The Organization of the Grain Trade in the United States.

4. Speculation on the Produce Exchanges of the United States.

By H. C. Emery .

333

340

XIII. PRICES

1. The Relation of Retail Prices to Wholesale. By Robert Newman 354

2. Variation in the Prices of Agricultural Products .

363

3. The Influence of Speculation upon Prices. By H. C. Emery. 367

XV. PAPER MONEY IN FRANCE. By Andrew D. White

XVI. THE REGULATION OF A BANK-NOTE CURRENCY. By J. Laurence

399

400