Front matter
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POLITICAL iLIBriARY OF CONGRESS. #
I UNITED STATES OF AMERICA. J
Chapter I. Page
Comforts surrounding children in the United States ; how procured. history of a stocking. idea and name of wealth. importance of the correct use of words to express ideas i^
Chapter II
Some necessaries not produced by labor and not included IN THE TERM WEALTH. EaRTH, AIR, WATER, WHEN THEY ARE NOT, AND WHEN THEY ARE WEALTH. PRODUC- TION ; WHAT IT IS. Labor creates nothing. It changes
THE position OF MATTER. We LIVE ON THE PRODUCTS OF PAST LABOR. IDEAS OF ECONOMY, SKILL AND KNOWLEDGE EVOLVED, AND NAMES GIVEN 21
Chapter III
Division of labor ; increased efficiency resulting from. Co-opERATioN. Household labors. Training of the young. Special fitness of women for certain labors. . 30
Chapter IV
Interchange. Necessity of considering and satisfying the wants of others 36
Chapter V
Protection to life and property. Honesty. Small efficiency of GOVERNMENTS. CONSCIENCE THE MOST EFFICIENT xii CONTENTS.
PAGE.
POLICE. Effects of dishonesty. Demoralizing ij^flu-
ENCE OF successful DISHONESTY 38
CHARTER VI.
The YOUNG not possessed of wealth. Their wants supplied. Sale and purchase of labor. Sellers of labor and not the wealth-possessors have the enjoyment of
THE PORTION OF THE LATTER'S WEALTH EMPLOYED IN PRO- DUCTION. Wages. Capital. Interest. Average wages
DETERMINED BY THE PRODUCTIVENESS OF LABOR. INDIVID- UAL WAGES ; HOW DETERMINED 44
Value. Demand and supply. Intrinsic value a verbal contradiction. Value ; how determined. Market value. Speculators. Average value. Cost of reproduction. Labor and utility essential to value 68
Chapter X
Means of facilitating interchange. Weights and measures. Measure of value. Money. Gold and silver. Properties which adapt them for use as money. The DOLLAR. Absurdity of attempts to fix by law the relative values of gold and silver. Causes of fluctuations IN THE VALUE OF MONEY 78
CONTENTS. xiii
Chapter XI. Page
Price. Fluctuations. Warning furnished by rise in
PRICE 88
CHAPTER Xn.
Strikes, combinations and lock-oiA'S. The purchase
POWER of wages, not THEIR AMOUNT IN MONEY, THE PROPER SUBJECT FOR THE LABORER'S CONSIDERATION. RE- DUCTION OF HOURS OF LABOR. TRADES UNIONS. COMBINA- TIONS TO KEEP DOWN WAGES. " CO-OPERATIVE " STORES, FACTORIES, ETC 92
Interest; limits to. Market rates. Average rates. Usury laws 134 xiv CONTENTS.
Chapter XVII. Page
Paper money ; advantages of. Inconvertable paper money ; effect of, dishonesty of. superior honesty displayed by the french people over those of the United States 141
' CHAPTER XVIII.
Commercial crises and panics. Their causes ; aggravated BY USURY LAWS AND GOVERNMENT INTERFERENCE.
How to be prevented 153
Chapter XIX
Foreign commerce. Protection to native industry. " Pauper labor " of Europe considered. Evil results of the tariff on native industry 160
Chapter XX
Knowledge acquired by the attentive student. His future happiness dependent on his own conduct. Individual success dependent on services rendered. Cause of apparent exceptions. Canon of good and evil 178
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You’ve reached the end of Common sense; or, First steps in political economy, for the use of families and normal classes, and of pupils in district, elementary and grammar schools; being a popular introduction to the most important truths regarding labor and capital.