730 THE POPULAR SCIENCE MONTHLY. 



capita * all these seem to point to the fact that great progress has 

 already been made. 



The general view here taken of our recent economic evolution may 

 be stated in mechanical terms. Mr. Spencer's words are somewhat 

 abstract and difficult to fully comprehend, as a great many eminent 

 persons have found out ; but they must here be quoted for the per- 

 fection with which they cover the case : 



" In the second order " (of equilibrations), " comprehending the va- 

 rious kinds of vibration or oscillation as usually witnessed, the motion 

 is used up in generating a tension which, having become equal to it, or 

 momentarily equilibrated with it, thereupon produces a motion in the 

 opposite direction, that is subsequently equilibrated in like manner, 

 thus causing a visible rhythm, that is, however, soon lost in invisible 

 rhythms." f 



III. Having endeavored to view the phenomena of wealth-distri- 

 bution from an evolutionary standpoint, let us now eliminate the ele- 

 ment of time, and see if we may thus obtain additional light by altering 

 our point of view. The question is, "What is the most advantageous 

 distribution of wealth at a given moment ? In seeking a reply, the 

 following considerations inevitably come before the mind : 



1. " A more equal distribution of wealth tends prim a facie to in- 

 crease happiness " ; J since the amount of happiness given by wealth 

 obviously increases, not directly as the wealth, but in a constantly de- 

 creasing ratio. But 



2. "We have to allow for a decrease in the amount of wealth pro- 

 duced. This would result, first, from the increased idleness of large 

 numbers engaged in productive employments. Probably there are 

 persons that would deny that any such decrease would take place. 

 A little observation of the advantage taken by the Indians of gov- 

 ernmental interference with distribution in their favor would prob- 

 ably bring such persons a little nearer to the earth ; especially if it 

 were followed up by some study of the numerous ways in which most 

 working-men get rid of their hard-won earnings. Another loss simi- 

 lar to the above would be through decreased saving. Increased idle- 

 ness and increased non-productive expenditure, as for drink, amuse- 

 ments, etc., would lessen the total national capital. Still another loss 

 would come through the lessened efficiency of capital in the manage- 

 ment of enterprise very much like the lessened efficiency of an army 

 if each soldier were required to develop his views on the next move- 

 ment of the campaign ; for it must be assumed that interference with 

 the ratios of distribution would tend to give the workmen power over 

 the management of the capital. Here, again, there will very likely be 



* See Mr. Giffin's admirable pamphlet, which has been much grumbled at by men 

 who are eager to try their hands at remaking the world in a day, but whose figures and 

 facts remain. 



f " First Principles," p. 487. % Sidgwick, p. 517, and after. 



