ApHl 20, 1895
Record and Guide.
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APRIL 20, 1895.
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New Jersey records [page 667).
"^OTHINGt puts heart into people so much ar.au ailvauce
■*^ in the pricee o'. fhe great staples, autl it wheat would only
show as much activity as cottou and oil, the situatiou would be¬
come much more satisfactory. The fact that wheat has not
joined the upward movement, excc]it iu a moderate way, aud as a
matter of sympathy ivith other thiugrs, is drawiug attention to
that cereal and cieatiug bullish views for its immediate future.
The buying lately seen iu the Stoek Market is undoubtedly the
result of an outcrop of public confidence ; professiocal operafcurs
never yet maintained aud never could maintain snch a market
as we have had since the beginning of last mouth. Buyers are
acting under uo delusions as to the nature of the proiieifies they
arc de.iling in. Thelast two years have tested everything so
thoroughly that they cauuot make any mistake as to whicb are
good aud which are bad. Their actions must be based on a firm
belief that the bad features of the situation are either things of
the past or about to become so, aud that better ones are just
ahead. But for'his fact the purchases of the ftraogers -rzith
their contiuued bad showings of earnings aud of the Coalers
with the questions of percentages and productions uudeter-
miued would be utterly unaccountable. Iu the last thirty days
there have been large casii purchases of both stocks aud bonds
in fhe speculative classes, and these would only be made under
more than an expectation that a period of improvemeut iu the
material condition of th:*, commuuity has been begun. Uuder
these eircnmstauces thero is uo doubt that the advance will go
somewhi^t further with, of course, the inevitable occa.sioual
set-backs in the form of reactions, and g;;i,!cd by the news that
comes from the different centres of commercial activitv.
A CTIVITY on the European Exchanges has beeu followed
-^^ by the absorption of some mouey in trade, but the deraand
from this source is so slight that it is feared that a 2 per cent
rate will prevail in London for a good while to come, %yith cor¬
respondingly low rates onthe Coutiuent, excepting at Vienna,
where, however, rafies have never been as low as at other great
financial centres. It is to be regretted that the activity of the
several business communities of the world should bein so large a
proportioQ in the security markets where speculation is more rife
than elsewhere. If we could hear that Clyde ship buildiug was
booming, or of more activity among makers of silk at Lyons, or
among the iron-workers of Rheuish-Westphalia, or in any other
great industrial centre, the thing would have a better sound.
Movements on the Exchanges are so largely speculative that tliey
aro not satisfactory testimony of the world's prosperity, and,
indeed, unless followed by something better, aro no testimony
at all. More substantial evidence, however, is always preceded
by them, and it is presumed aud hoped that it is so iu this
instance. Great Britain has uo budget difticulty this year, there
being a surplus of $3,850,000 in the year closing, with a pros¬
pect that tho new legacy duties will yield from $5,000,000 to
$6,000,001) more in the coraiug year thau they did in this;
other additions will remove the necessity for much, if any, new
taxation. New capital applicitions are growing enormously.
Vhe several amounts for the first quarter of the following years
IJoba'ol evoVJ^aescripti'oS^^' $142,000,000; 1894, $60,500,000;
aay w .^!2l Z"''^ i>erfeo£i^i)5, $155,000,000. Analysis makes the
- most taviirable inasmuch as they
F^^^fy'whhK'fco Bros ^ *** commercial ventures. The French
THILLMANM X. uirw^^ ^"''"'"^ ^^'^ *'''^'^® ^'"^ Madagascar
J^v^^^,,lit"''^'-^VOv^^"^ ^or^ign trade; probably
AflyiPIQiy^l^ ^jethnigtofightfovin fhat islaud. The
For Churches, Public Bulldl?"*^*^"'''^^^'^ popular measures so much
Columna, etc. omce,-M u'ith the w.irkersiu the State moiiop-
f "iTT.v^ i.|;/T-''obacco makers were on strike, now
' t. The proposed purchase of the
Austrian railways by the government of that country is not
raeeting much opposition, although it will increase the State's
responsibilities considerably, but as the matter can be arranged
by the negotiation of bonds, ouly few seem to mind that, aud
the objectors confine themselves to hoping that this undertaking
w ill notimperil the arrangements for currency reform. Apart from
the moralitivs involved tlie announcemeut of peace between
China and Japan will occasion general satisfaction, best expressed
by the last annual report of the Dresden Bank, which stated in
expectation of the event, that it will probably lead to large
orders for war and railway material and consequently foster
business. The inclusion ot au offensive and defensive alliance
betivecn the two countries in the terms of peace is the line
which Japan puts around the neck of China in order the easier
to lead her whithersoever she ■will.
Sociology Becomes Teachable.
MOST sciences come iuto existence before the need of them
is geuerally appreciated. They are fonnulated by a few .^
advanced thinkers aud have to prove Iheir usefulness before *^
they are welcomed. But for fully fifty years there has been a
general demand for a well reasoned and useful science of soci¬
ology, as intense as that tor a uew anti-tojiine for some deadly
disease and much more intense than that which some i ears ago
demanded the application of electricity to the purpose of light¬
ing. This demand for a usable and teachable science of soci¬
ology has even been impatient and petulant. Large numbers of
large books have been written, not only to prove that we need
it, but Ihat it is absurd that we do uot have it; that we ought to
be heartily ashamed of our-selves for mit haviug evolved it.
But wheu these impatient authors tried to supply the demand
which they declared should be promptly met—that is, when they
tried to formulate the science which was wanted—fhe results of
their work were conspicuously unhappy. Herbert Spencer haa
scolded people for lack of sense iu economic and political affairs
as constantly, thoujih not iu the same manner as Carlyle, and
yet hi? sociology is based upon biological as.sumptions which are
crumbling from beneath it, aud his theory of the State upon an
" ethical assumption " which all but the auarchists, ixom Huxley
down, consider false. He is a voice crying in the wilderness,
and if he is as wise as he thinks hiraself, then other people are
indeed so foolish that it is uot worth while even to waste breath
iu scolding them. They can rationally be looked upon only as
belonging to the class of the persistently and itiveterately unfit,
aid a prompt failure to survive is the best that cau be hoped
The Social Science Associations of England and the United
States also constituted themselves the prophets of much-needed
science. They devoted a good part of their energies to i)roving
that a science of society would be useful if we had it, and most
of the remainder to the problems of crime, pauperism and the
siUii:':- This led people to think that social science was concerned
only with social wreckage, and the broad term social science
which these associations had iucoipi^a^ed i.u thoir iitles was
degraded to a narrow meaning. It was this perversion of the
earlier name that compelled the adoption of the newer and less
satisfactory term of Sociology, This iu turu has been seized
upon by certain periodicals aud associations aud misapplied in
the same way until mauy have a feeliug that sociology is con¬
cerned only with social diseases.
The attempts to teach fhe "science" in colleges and univer¬
sities were not much more happy iu their results than the
attempts to fonuulate the science. Courses nominally in soci¬
ology might be lu almost anything from sanitation to finance, or
from criminology to theology. One economist aud student of
social problems who v,'as called in 1889 to a professorship in an
institution where a course in " sociology" was scheduled,
promptly threw it out, because he eaid he did not know what
sociology was and had grave suspicious that as yet nobody else
did—at any rate he felt sure it was not yet a science that was in
teachable shape. He preferred to offer courses iu the subsidiary
sciences of economics, politics aud so forth, in whieh he could
feel more confident that he knew what he was talking about.
But notwithstanding the slowness of the scieuce in getting
itself boru, the scolds are wrong. Sociology could not be foi'-
mulated before the other social sciences upon which it rests.
Development has been more rapid iu getting together the
material which sociology must use thau was the progress in
bringing together the material which mado the formulation of
biology possible. Disease was studied before physiology, ther¬
apeutics before anatomy, botany and zoology before biology. So
it was necessary that the subsidiary social sciences should be
studied first. That economics and politics and criminology auf'-"
even the uaraelcss science which is uow cuMe<l plilauthiopolog,
shouldbe measurably well understood before sociology, whi
isthe orgiiuiziitioii uf the material furuiahed by the positnne.
study of society, could be formulated.
It is ouly withiu the last few years that the positive stuf'"'^"'
society has been carried far enough so that sociology coul-