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A. Seminary Table with New Books and Current Literature;B. Lecture Rooms;-C. History Bureau (Dr. Adams); -D. Newspaper Room (Mr. Shaw);-E. Economy Bureau (Dr. Ely);—F. Map Bureau, Historical and Physical Geography (Dr. Jameson);— G. Statistics, Lavatory, Lift, Stairway to Library;-H. Bluntschli MSS. and Portrait; Lieber MSS.;-I. Stairway to Library and Hopkins Hall;-J. Alcove of Ancient History;-K. Alcove of General History;-L. Alcove of Economics;-M. Alcove of Administration;-N. Alcove of Political Science;-0. Alcove of International Law;-P. Alcove of State Laws and State History;-Q. Alcove of English, German, Swiss, French and Roman Law; -R. Librarian's Desk (Mr. Fifield);-S. Desks of Fellows and Graduate Scholars;-T. Revolving Cases;-U. Library Bureau, Journals, bound vols.;-V. Church History;-W. Hat and Cloak Room;-X. Public Documents, U. S.;-Y. Historical Museum;-Z. Pamphlets, Miscellany and five Bulletin Boards;a. Newspaper Bureau and Bulletin Board for Clippings;-b. Card Catalogue (Subjects and Authors).

III

THE PAST AND THE PRESENT

OF

POLITICAL ECONOMY

“'Ο άνθρωπος φύσει πολιτικὸν ζῷον.”-Aristotle.

"All things whatsoever ye would that men should do to you, do ye even so to them."

New Testament.

"Die wirthschaftlichen Zustände und Entwickelungen der Völker dürfen nur als ein mit dem gesammten Lebensorganismus eng verbundenes Glied angesehen werden.”—Knies. "Ausgangspunkt, wie Zielpunkt unserer Wissenschaft ist der Mensch."-Roscher.

"Durch die Sitte baut der Mensch in die Natur eine zweite Welt, 'die Welt der Cultur' hinein. Und zu dieser Welt der Cultur gehört auch die Volkswirthschaft."—Schmoller.

"L'économie politique ne peut rien démontrer sans le secours de la statistique et de l'histoire; car ce n'est qu'en consultant ces deux sciences qu'elle peut apprendre ce qu'elle cherche, c'est-à-dire quelles sont les lois qui ont été utiles ou funestes aux nations."— Laveleye.

"When at length a true system of Economics comes to be established, it will be seen that that able but wrong-headed man, David Ricardo, shunted the car of economic science on to a wrong line, a line, however, on which it was further urged towards confusion by his equally able and wrong-headed admirer, John Stuart Mill.... It will be a work of labor to pick up the fragments of a shattered science and to start anew, but it is a work from which they must not shrink who wish to see any advance of economic science. . . Our science has become far too much a stagnant one, in which opinions rather than experience and reason are appealed to.-Stanley Jevons.

...

IN

HISTORICAL AND POLITICAL SCIENCE

HERBERT B. ADAMS, Editor

History is past Politics and Politics present History - Freeman

SECOND SERIES

III

THE PAST AND THE PRESENT

OF

POLITICAL ECONOMY

BY RICHARD T. ELY, Ph. D.

BALTIMORE

N. MURRAY, PUBLICATION AGENT, JOHNS HOPKINS UNIVERSITY
MARCH, 1884

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