LITERARY NOTICES. 



11 1 



ly does. Mr. Lamed is particularly happy 

 in his estimate of the faculties which are 

 essential to the acquisition of wealth in the 

 business-world. His analysis, too, discloses 

 just grounds for raising the estimate usually 

 put upon the faculties which produce the 

 skillful mechanic, artisan, clerk, or other 

 efficient laborer. The comparison of these 

 two sets of faculties dispels the common 

 notion that, as agents in the work of pro- 

 duction, they are of widely different quality. 

 That there is a difference is conceded ; that 

 capital is entitled to by far the largest 

 share of remuneration is also conceded ; the 

 point is, that it exacts a larger share than 

 any equitable principle of division gives 

 to it. 



This plea being made for labor, the 

 author's hard work begins in finding a 

 way to escape from the economical conclu- 

 sions about the " wages-fund," in showing 

 how that fund may be increased so that 

 labor may receive a larger hire, and in 

 shaping a practical plan for the accomplish- 

 ment of the desired end. We commend 

 this part of Mr. Larned's work for the 

 strong thought and practical sagacity be- 

 hind it. He is clear when he has hard 

 knots to untie. The " wages-fund " in the 

 hands of an economist has always appalled 

 us. The limits to it are sketched as inexo- 

 rably determined by conditions out of human 

 reach, and the only relief open is the rel- 

 ative lessening of the numbers of those 

 who share in it. Can any one wonder at 

 men shrinking from the gloom of such a 

 belief? Mr. Lamed holds by another and 

 more inspiring doctrine. His effort is to 

 prove that the enormously increased pro- 

 ductiveness of labor, through the operation 

 ' of many causes which he enumerates, is 

 more than sufficient to supply the fullest 

 meed of legitimate human desires. If it is 

 not so now, it is because of unjustifiable 

 consumption and other wrongs. Let the 

 consumption which grows out of the low 

 desire to parade the possession of wealth be 

 restrained by the heavy hand of public 

 opinion, and let public-debt making be 

 kept within certain defined bounds, so that 

 this avenue of unproductive capital may be 

 practically closed let this much be done, 

 and the result will be that those who com- 

 mand capital will be driven to devote more 



and more of it to renewed production. To 

 such means does the author look for the 

 increase of the fund out of which labor is 

 paid. We have only indicated the drift of 

 the argument. 



The practical plan, advocated tentatively 

 by the author, is a system of dividends to 

 labor, the basis of which is given at some 

 length. Other plans are subjected to criti- 

 cism, and their defects pointed out. The 

 system of some sort of a partnership be- 

 tween capitalists and laborers obviates 

 many of these defects, but is not without 

 its attendant difficulties. Mr. Lamed has 

 given cogent reasons for his preference, 

 and we hope they will be given the con- 

 sideration they deserve. His views are so 

 opposed to everything that is visionary, and 

 are kept in such a close relationship to the 

 facts, that his critics will find him no mean 

 antagonist. 



We had marked for comment other 

 points in this original and interesting book, 

 which we have no space for. What has 

 been said falls short of doing the author 

 justice. Indeed, this book is so compacted, 

 and so brimful of suggestive lines of in- 

 quiry, that no summary of it can be ade- 

 quate. It is a calm presentation of a dif- 

 ficult subject, and the temper of its conclu- 

 sions will give it weight in the solution of 

 pending problems. It has a mission which 

 it is bound to serve worthily. The task 

 the author unpretentiously set himself has 

 been well done, and to other merits must 

 be added that of literary excellence. The 

 matter is presented in the shape of a series 

 of conversations, and they are conducted 

 with a skill which provokes a sharp inter- 

 est in the discussions from beginning to 

 end. The argument is carried on logically ; 

 each proposition is separated and clearly 

 put. Those who take up the book will lose 

 little time in finishing it, and they will find 

 in its pages much good and substantial 

 thought. 



Correction. It was erroneously stated 

 last month in the review of the "Scientific 

 Basis of Faith" that the book "is an at- 

 tempt to harmonize Scripture with science." 

 The reading should be " it is not an at- 

 tempt," etc., conveying just the opposite 



