WELLINGTON PHILOSOPHICAL SOCIETY. 



First Meeting. ISth July, 1878. 



A. K. Newman, M.B., Vice-president, in the chair. 



New 3Iembeys.—D. Chmie, C. E. Macldin, T. W. Kirk, T. King, E. P. 

 Field, Herbert Eawson. 



Attention was called to several additions to the Museum and library, wliioli were 

 placed on the table for the inspection of members. 



1. "On some of the Terms used in Pohtical Economy," by John Car- 

 ruthers, M. Inst. C.E. [Transactions, p. 3.) 



Mr. Maxwell said that as regards Mill's definition of wealth, that " it is anything 

 useful or agreeable which possesses exchangeable value," he concurred with Mr. Car- 

 ruthers that the word "exchange" should be omitted, because if we regard the community 

 in the world as a whole, since there is no one without the world with whom this com- 

 munity can exchange its possessions, it would follow from Mill's definition that the 

 community as a whole possesses no wealth, and this is manifestly absurd. Eegarding 

 the divisions proposed by Mr. Carruthers of wealth into direct wealth and implements, 

 he did not think a distinct line of demarcation can be drawn. It is impossible to define 

 the point at which bread, for instance, may be described as useful for its own sake, 

 although bread is stated to be an article which is direct wealth ; the whole of the com- 

 binations of circumstances and things which go to produce bread, from the plough to the 

 process of digestion, are so involved that it seems almost impossible to state at what 

 particular period the bread is useful or not useful for its own sake. A chair maybe direct 

 wealth while occupied for rest, while if its use be made subservient to the purpose of 

 listening it becomes an implement. 



Mr. Martin Chapman considered that the controversy was principally owing to the 

 ambiguity of our common language. Few people know how ambiguous our ordinary 

 language is. Lawyers know it, and are always trying to guard against it, with very 

 indifferent success. That this does not cause trouble is principally owing to the fact that 

 we usually converse with persons whose minds have been trained in a manner somewhat 

 similar to our own. "When this is not the case trouble ensues, as, for instance, when a 

 soldier and a sailor converse they soon think each other fools, because one talks pipeclay, 

 the other pitch. The present difference may be due to a similar reason, viz., that the 

 critic and the criticized do not look at the matter from the same standpoint. This 

 indefiniteness appeared in the paper ; it did not appear at all clearly what Mr. Carruthers 

 meant by a " man ;" was it the individual, the family, community, or all mankind, 

 because to each of these a different test would have to be applied ? The stone which a 

 lunatic thinks will transmute gold cannot be called wealth ; but the possession gives him 

 comfort. So the torpedoes used by a conquering nation to enslave its neighbours increase 

 the happiness of one nation, but probably not of the whole -world ; yet they would be 



