TRANSACTIONS OF SECTION F. 869 



of pounds a year. If India, instead of daily wages of twopence-halfpenny, were 

 at the United States rates, the population could abundantly consume imported 

 manufactures. It was, therefore, to the progress of the world they chiefly had to 

 look forward with hope. 



3. Harmonies and Antagonisms in the Social Forces. 

 By W. H. Douglass, B.A. 



Many writers on economics hare taught that all the social forces are harmonious. 

 The intention of the writer is to show that in the social forces there are certain 

 antagonisms. 



Most text-books teach that exchange value is an essential characteristic of 

 wealth. But wealth is directly proportionate to satisfaction and inversely to toil. 



sitisliotinn 



We measure wealth by the increase of the ratio — = As tbe numerator in- 



1 toil 



creases or the denominator diminishes, wealth increases and poverty diminishes. 



When toil = 0, then poverty disappears, value disappears ; but according to the 



above definition wealth disappears. The definition is therefore illogical. 



Harmonies. — The carpenter by attending to one pursuit produces more than he 

 otherwise could. The blacksmith does the same. Therefore, when they exchange, 

 each receives more, and each is therefore enriched. If one is rewarded better than 

 the other, this attracts competition. It' one is more burdened than the other, this 

 repels competition. There are therefore three harmonies — mutual enrichment, 

 equable reward, equable burden. 



In general, the methods of production as to time, place, implement, and other 

 agents, are all harmonious, tending to the public weal. 



Antagonisms. — (1) Fuel on the American continent was not long ago very 

 abundant. Consumption has been rapid, population has increased, the ratio of 

 supply to demand has diminished. Hence the community is poorer in this com- 

 modity. The value has increased : therefore the holders of the stores of fuel are 

 richer. Here is enrichment on one side, impoverishment on the other. 



What is true of fuel is true of minerals and land. 



(2) The methods of producing many commodities have been much improved, so 

 that labour produces in much greater abundance. This induces intensified compe- 

 tition in selling. The natural products, minerals and land, cannot be increased ; 

 hence as demand increases with increased population there is diminished competi- 

 tion. Here is a second antagonism — diminished competition against intensified 

 competition. 



The product of the poorest land in cultivation marks the limit of the wages of 

 unskilled labour. The surplus over the wage fund (without taking into considera- 

 tion the modifying force of capital) goes to rent. After population attains a 

 certain degree of density, any increase of population compels resort to inferior 

 sources of supply. This tends to diminish production. But poorer land being 

 cultivated marks a decrease in the wage-fund, leaving more to rent, a third 

 antagonism. 



These examples show that exchanges are of two kinds : 1st, harmonious ; 2nd, 

 antagonistic. 



They show to some extent why the producers are not the possessors of wealth. 



They teach two important lessons : — 



1st. Incidence of taxation. — Avoid imposing taxes that will counteract the 

 harmonies. Impose taxes in such a way that they may tend to correct the 

 antagonisms. 



2nd. In disposing of the public lands such conditions should be imposed that 

 these antagonisms may be prevented. 



4. Notes on Friendly Societies, with special reference to Lapses and Malinger- 

 ing. By the Rev. G-. Cecil White, M.A. 



The development and stability of friendly societies is a matter of general interest 

 and has recently engaged the attention of the Convocation of Canterbury, who 



