Note: Images of the original pages are available through Internet Archive/American Libraries. See http://archive.org/details/principlesofpoli00perrrich Transcriber's note: Text enclosed by underscores is in italics (_italics_). Text enclosed by tilde characters is transliteration of Greek (~dragma~). PRINCIPLES OF POLITICAL ECONOMY. * * * * * PROFESSOR PERRY'S WORKS ON POLITICAL ECONOMY. 1. INTRODUCTION TO POLITICAL ECONOMY. Fifth Edition. 12mo. 357 pp. Price, $1.50. 2. PRINCIPLES OF POLITICAL ECONOMY. 8vo. 585 pp. Price, $2.00. 3. POLITICAL ECONOMY. Twenty-First Edition. Crown 8vo. 600 pp. Price, $2.50. * * * * * PRINCIPLES OF POLITICAL ECONOMY by ARTHUR LATHAM PERRY, LL.D. Orrin Sage Professor of History and Political Economy in Williams College _"No task is ill where Hand and Brain And Skill and Strength have equal gain, And each shall each in honor hold, And simple manhood outweigh gold."_ WHITTIER. New York Charles Scribner's Sons 1891 Copyright, 1890, by Arthur Latham Perry. Dedication. TO MY PERSONAL FRIEND OF LONG STANDING J. STERLING MORTON OF NEBRASKA A FRIEND OF THE PEOPLE ALSO FOUNDER OF ARBOR DAY PREFACE. It is now exactly twenty-five years since was published my first book upon the large topics at present in hand. It was but as a bow drawn at a venture, and was very properly entitled "Elements of Political Economy." At that time I had been teaching for about a dozen years in this Institution the closely cognate subjects of History and Political Economy; cognate indeed, since Hermann Lotze, a distinguished German philosopher of our day, makes prominent among its only _five_ most general phases, the "industrial" element in all human history; and since Goldwin Smith, an able English scholar, resolves the elements of human progress, and thus of universal history, into only _three_, namely, "the moral, the intellectual, and the productive."