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ECONOMICS
SELECTED
AND EDITED FOR
THE USE OF COLLEGE CLASSES
BY
FRANK A. FETTER, PH. D., LL. D.
PROFESSOR OF ECONOMICS IN PRINCETON UNIVERSITY Author of "The Principles of Economics"
NEW YORK THE CENTURY CO.
1912
Copyright, 1912, by THE CENTURY CO.
CONTENTS
PAGE
I MARKETS AND PRICES.
1. Origin of exchange-Herbert Spencer .
3
2. Origin of markets and market prices-Henry C.
Maine
8
3. Odd prices and bargains in retail trade-Robert C.
Brooks
15
4. Some seasonal price-variations-Henry C. Taylor 25
5. Marketing of farm products-Frank Andrews
6. Farm products and consumers' prices-Secretary
Wilson
34
48
7. An unsalable food surplus-The New York Times 58
II WEALTH AND ITS USES.
8. Rentals of urban real estate-Richard M. Hurd. . 61
9. Housing and rents in American towns-British Board
of Trade.
10. The farmer's woodlot-George F. Warren
88398
68
75
11. Hauling from farms to shipping points-U. S. Depart- ment of Agriculture
12. Land from the waters-Nathaniel S. Shaler
13. Conservation of National resources-National Conser-
vation Commission.
117
III CAPITAL AND INVESTMENT.
15. Capitalization and urban land-values-Richard M.
Hurd.
120
16. Some examples of increasing land-values-C. B. Fille-
brown
130
17. The New York exchanges-Governor Hughes' Commis-
sion
18. Differences in efficiency of weavers-Tariff Board
19. Conservation of human life-Irving Fisher
20. Wages of farm labor-George K. Holmes
21. Real wages in American towns-British Board of
176
184
187
22. Immigration and conditions of labor-J. W. Jenks and
W. J. Lauck .
23. Wages and cost of living-British Board of Trade 199
24. Cotton mill efficiency and machinery-Tariff Board 206
25. The minimum rate policy-D. A. McCabe .
V COSTS, PROFITS AND MONOPOLY.
214
26. Prices and farm management-Henry C. Taylor . . 228
27. Some findings on cotton manufactures-Tariff Board 233
28. Cost of production in the steel industry-Commis-
sioner of Corporations .
247
30. Water-power development in the United States-Com-
missioner of Corporations .
265
VI PRIVATE INCOMES AND SOCIAL WELFARE.
31. The standard of life-Mrs. Bernard Bosanquet . 275
32. The influence of income on standards of life-Robert
M. Daniels
33. Economic causes as affecting political history-W.
VII THE STATE AND INDUSTRY.
284
292
303
34. Gold production, 1890-1910-Director of the Mint
35. The National banks-Comptroller of the Currency 314
36. Plan for monetary legislation—National Monetary
Commission
37. The trade balance of the United States-George Paish 337
38. Some findings on wool-Tariff Board .
347
39. Findings on the wool tariff-President Taft
40. The Interstate Commerce Act-Act of Congress 41. Railroad values and rates-Interstate Commerce