THE LIBRARY 
 
 OF 
 
 THE UNIVERSITY 
 OF CALIFORNIA 
 
 LOS ANGELES
 
 educational 
 
 EDITED BY HENRY SUZZALLO 
 
 PROFESSOR OF THE PHILOSOPHY OF EDUCATION 
 TEACHERS COLLEGE, COLUMBIA UNIVERSITY 
 
 BY 
 
 JOHN HAYNES, PH.D. 
 
 HYDE PARK HIGH SCHOOL, BOSTON, MASS. 
 
 HOUGHTON MIFFLIN COMPANY 
 
 BOSTON, NEW YORK AND CHICAGO 
 
 (3T&e ftitoEtsi&e prcs'tf Cambridge
 
 COPYRIGHT, 1914, BY JOHN HAYNES 
 ALL RIGHTS RESERVED 
 
 Cfit fcibtrstot J3rte 
 
 CAMBRIDGE . MASSACHUSETTS 
 U . S . A
 
 Education 
 Jjbrary 
 
 H 
 
 PREFACE 
 
 THIS little book has grown out of the author's 
 interest in economics, his conviction that igno- 
 rance of its elementary principles is at the bot- 
 tom of much of the faulty legislation and adminis- 
 tration in our country, and finally, out of his own 
 experience in teaching the subject to secondary- 
 school pupils. To test his own beliefs on the mat- 
 ter he has read widely on the subject and made 
 extensive inquiries, with the result that his own 
 convictions, based on experience, have been con- 
 firmed. In 1912 he sent out a questionnaire to 
 secondary-school teachers of economics in all 
 parts of the country and received seventy-five 
 replies, which furnished him with a large amount 
 of information which has been of use in the prep- 
 aration of this study. The author desires to take 
 this opportunity to thank his correspondents, 
 among whom are many of the leading teachers 
 of economics in the secondary schools, for the 
 invaluable help they have given him in the in- 
 vestigation of his topic. The questionnaire was 
 as follows: 
 
 iii
 
 PREFACE 
 
 1. Name and location of school. 
 
 2. Name of the teacher of economics. 
 
 3. Teacher's general education; graduate of what 
 college or normal school? 
 
 4. Teacher's special training in economics. (A full 
 answer specifying each course taken and the 
 time devoted to it will be appreciated.) Has 
 the preparation for teaching economics been equal 
 to that enjoyed by the teacher in other subjects 
 taught by him or her? 
 
 5. What is the line of the teacher's chief interest? 
 What other subjects does he or she teach? 
 
 6. What textbook-is used? 
 
 7. In what year is economics taught and what is its 
 time allotment? 
 
 8. In what courses is it (a) required, (6) optional, 
 (c) not permitted? 
 
 9. What work in the school leads up to or prepares 
 for economics? 
 
 10. How is it correlated with other subjects? 
 
 11. When was economics introduced into the school? 
 
 12. Number of pupils in this year's graduating class 
 and the number who have studied economics. 
 
 13. How does the teacher feel that the results ob- 
 tained in the teaching of economics compare, hi 
 proportion to the time given to the subject, with 
 the results obtained by him or her in other sub- 
 jects (a) as to quality of classroom work and (b) 
 as to application to the pupil's life out of school? 
 
 14. Arguments for or against having economics as 
 a secondary-school subject. 
 
 iv
 
 PREFACE 
 
 15. What methods are used in teaching economics? 
 (A full answer is desired. Please state what use 
 is made of notebooks, of other authorities than 
 the textbook, of newspapers or magazines, of 
 visits to industrial establishments, or any other 
 means of making the work effective.) 
 
 In 1899, Professor Frederick R. Clow, of the 
 Oshkosh, Wisconsin, Normal School, published, 
 in the Economic Studies of the American Eco- 
 nomic Association, a very valuable monograph on 
 "Economics as a School Study," which traversed 
 very much of the same ground covered by this 
 essay. The present monograph is, however, an 
 independent piece of work. On every point cov- 
 ered in the essay the author has sought all avail- 
 able material, much of which was not in existence 
 when Professor Clow wrote, and has reached a 
 conclusion which is entirely his own. In some 
 cases his conclusions differ from those of the mono- 
 graph in question. Only in a few minor ways is 
 the present work different from what it would 
 have been had Professor Clow's essay never 
 been published. 
 
 It is the hope of the writer that this study 
 
 will have some influence in hastening the spread 
 
 of the study of economics, which is in any event 
 
 sure to come. At the same time he hopes that it 
 
 v
 
 PREFACE 
 
 will be of assistance to teachers of economics in 
 the secondary schools, especially to the inexpe- 
 rienced and those with but a limited knowledge 
 of the subject, to whom the great privilege of 
 teaching it may come. 
 
 JOHN HAYNES. 
 BOSTON, June 19, 1914. ,
 
 CONTENTS 
 
 EDITOR'S INTRODUCTION ix 
 
 I. THE NEED OF ECONOMIC KNOWLEDGE . . i 
 
 n. THE SUITABILITY OF ECONOMICS AS A SECOND- 
 ARY SCHOOL SUBJECT u 
 
 III. THE PRESENT STATUS OF ECONOMICS IN THE 
 
 SECONDARY SCHOOL 20 
 
 IV. THE PLACE OF ECONOMICS IN THE CURRICULUM 
 
 AND ITS RELATION TO OTHER SUBJECTS . 33 
 
 V. METHODS OF TEACHING ECONOMICS ... 47 
 
 VI. THE CONTENT OF THE COURSE IN ECONOMICS . 72 
 
 VII. BIBLIOGRAPHIES 86 
 
 OUTLINE 91
 
 EDITOR'S INTRODUCTION 
 
 THE American citizen needs information on eco- 
 nomic subjects. Every day, as a maker of public 
 opinion, he is called upon to lend the weight of 
 his personal judgment to one or another side of a 
 controversy which at bottom rests on economic 
 fact and law. Less often, but with more deci- 
 sive influence, he is asked to go to the polls and 
 solve problems of political and social welfare which 
 involve some interference with the means of pro- 
 ducing, exchanging, and distributing wealth. 
 
 In the face of such a persistent need for eco- 
 nomic intelligence, men and women must be edu- 
 cated into familiarity with the fundamental laws 
 and essential facts of economic science. The col- 
 leges have trained a few people, for the study of 
 economic problems is a well-established univer- 
 sity study. But we cannot be content with this 
 slight diffusion of knowledge. Discerning leaders 
 in political economy are less than half efficient 
 when the majority of men are undiscerning. The 
 level of constructive leadership is largely estab- 
 lished by the levels of popular understanding. 
 ix
 
 EDITOR'S INTRODUCTION 
 
 The elements of economics must be taught in 
 some form in both high and elementary schools. 
 It is useless to urge that economics is a univer- 
 sity subject and not a high-school study. Such a 
 statement is not an argument against the teaching 
 of economics in the lower schools; it is merely an 
 expression of the present educational status of the 
 science. It is this status which we must change. 
 The fact is that all men imply or assume eco- 
 nomic knowledge when they participate in present- 
 day affairs. What they get is usually obtained in 
 a haphazard way, from newspapers, maga- 
 zines, and conversation. It would be ridiculous 
 to assume that the schools can do no better by 
 the average man than these incidental agencies 
 of economic teaching. The high school cannot 
 do as well as the college, and the elementary 
 school cannot hope to approximate the service 
 of the high school; but each can do more for its 
 clientage than it now does. It is all a matter of 
 making schoolmasters feel with sufficient force 
 the urgency of the task ; when this is accomplished, 
 well -trained teachers, the proper selection of 
 topics, and effective modes of teaching will follow 
 in due course. If doing something to give men eco- 
 nomic intelligence is felt to be worth while, we 
 shall get whatever experimentation is necessary 
 x
 
 EDITOR'S INTRODUCTION 
 
 to indicate the causes of failure and to suggest 
 the ways and means that will bring success. 
 
 In the course of any such enthusiastic experi- 
 mentation it will soon be made clear to us that 
 high-school students are not interested in the 
 same range of problems, the same minute details, 
 or the same wide generalizations as are univer- 
 sity students. They require a different selection 
 of topics. The interests of high-school students 
 are determined by the psychological facts of 
 adolescence and the special contacts with the out- 
 side world usual to youth. Problems belonging 
 more or less exclusively to business and finance 
 will therefore not appeal to them at first. 
 
 The high-school students will be interested in 
 problems of social welfare. They will be eager to 
 understand the issues of current political debate. 
 In so far as these call for a knowledge of economic 
 fact and law they are strategic opportunities for 
 economic teaching, and can be made the points 
 of entrance into investigations of economic fact. 
 Thus topics for economic study in the high school 
 are more likely to represent units of human in- 
 terest than abstract economic concepts. The 
 more abstruse economic notions, relations, and 
 generalizations will come to them indirectly, 
 as certain concrete and tangible economic facts 
 xi
 
 EDITOR'S INTRODUCTION 
 
 are directly pursued. Even the latter will be more 
 effectively acquired and organized for the lay- 
 man's uses if they are acquired as the means to 
 interesting practical ends. 
 
 Making knowledge practical merely involves 
 making knowledge personal. The best way to 
 head the high-school youth toward the economic 
 interpretation of social and political life is to be- 
 gin with the economic interpretation of his own 
 life, just where the instructor finds it. Whatever 
 aspects of his own experience afford illustrations 
 for economic fact should be utilized from the 
 start. But his life is lived with more than his 
 own young kind. Group life with his fellows 
 may be central to him; but his life has expand- 
 ing margins which more and more touch the 
 institutional life of adults. What his own so- 
 cial class or immediate neighborhood is discuss- 
 ing will be of some concern to him. What is 
 mentioned in daily newspaper and weekly maga- 
 zine will widen the teacher's chance to vitalize 
 economic teaching. Thus the teaching of eco- 
 nomics in the high school will aim more at con- 
 trolling the child's belief with fact than at making 
 him memorize a text of abstractions. 
 
 It is obvious that before economics can be 
 transmuted into a high-school subject, we must 
 xii
 
 EDITOR'S INTRODUCTION 
 
 have better-trained teachers, specially devised 
 texts, and a method of approach which will make 
 the high-school student feel that he is studying 
 realities. How these and other less important 
 pedagogical ends are to be attained more fully 
 is told in the volume here presented.
 
 ECONOMICS IN THE 
 SECONDARY SCHOOL 
 
 THE NEED OF ECONOMIC KNOWLEDGE 
 
 What the science of economics is 
 
 ECONOMICS is among the most important of sub- 
 jects. Its nature is, however, often misunder- 
 stood even among educators. It is the science 
 which deals with the social system of wealth, or, in 
 other words, it is the science which explains those 
 social phenomena which are due to the wealth- 
 getting and wealth-using activities of man. The 
 economist has to do with valuable things or goods 
 in their relation to the individual and to society 
 as a whole. He inquires into human wants and 
 the means of satisfying these wants so far as this 
 can be done by concrete goods or the hired serv- 
 ices of one's fellows. He answers the questions 
 how society produces goods, how these goods are 
 divided among the different classes of producers, 
 and how the use of the goods reacts upon individ-
 
 ECONOMICS IN THE 
 
 uals and the social organism. He looks at every- 
 thing from the social viewpoint and discovers 
 what is for the general welfare on the material 
 side. He makes a scientific explanation of the 
 phenomena of the industrial world. As human 
 beings put forth the greatest part of their activi- 
 ties in industrial pursuits, ^that is, in getting a 
 living, it is evident that economics deals with 
 one of the major aspects of human life. How im- 
 portant it is that the elementary principles which 
 govern economic activities in modern society 
 be understood will appear as our discussion ad- 
 vances. 
 
 The value of economics for intelligent citizenship 
 in the twentieth century 
 
 James Bryce has shown, in the American 
 Commonwealth, that the dominating force in the 
 American government is public opinion. Practi- 
 cally all the great questions which public opinion 
 is called upon to settle fall within the domain of 
 economics or political science. It is therefore es- 
 sential, in order that one should be a good citi- 
 zen, that he should be intelligent upon these 
 questions. This, of course, is not the only thing 
 which is necessary to good citizenship, but it 
 would take us too far afield to discuss all its ele-
 
 SECONDARY SCHOOL 
 
 ments. The point here is simply that intelligence 
 not merely "general intelligence," but specific 
 intelligence on public questions is an essen- 
 tial. 
 
 There is special need of such intelligence in our 
 country in the years which are directly before us. 
 Up to the present time, even in our country, the 
 government has been in the hands, to a large 
 extent, of a ruling class. We are now, however, 
 in the midst of a great movement toward mak- 
 ing our institutions extremely democratic. For 
 good or ill, the initiative and referendum are 
 destined to play a great part in the decision of 
 our most perplexing questions. Whether any na- 
 tional form of direct legislation will be evolved we 
 cannot now tell, but while our Federal Constitu- 
 tion remains essentially as it now is, the States 
 will continue to deal in their legislation with by 
 far the more numerous, if not the more impor- 
 tant, questions. On these questions the voter will 
 have to declare himself affirmatively or negatively 
 with great frequency. In this country public ques- 
 tions are not left to savants to settle. In the State 
 of Missouri, for instance, there was submitted 
 to the voters in 1912 a constitutional amendment 
 with reference to taxation, the intelligent deci- 
 sion of which involved an understanding of eco- 
 
 3
 
 ECONOMICS IN THE 
 
 nomic rent and something of the incidence of taxa- 
 tion. In speaking of the educational value of 
 civics (simplified political science), Ruediger well 
 says, "The primary value of civics is the socially 
 practical value. Intelligent citizenship depends 
 upon it quite as much as upon history. When 
 rightly taught, it should lead to intelligent voting 
 and the upright discharge of all social-political 
 duties." What is true of civics is true in greater 
 degree of economics. In the first place, the 
 principles of economics are far less well known 
 among the intelligent public than the main facts 
 about our government, and are far more difficult 
 to pick up from miscellaneous reading. Says 
 Professor Macvane, " The motions of the earth 
 and its true relations to the heavenly bodies are 
 not more effectually disguised to the careless ob- 
 server than are the real facts of economic life." 
 Economic fallacies and misconceptions are com- 
 mon in the minds of otherwise intelligent people. 
 For example, the opinion that foreign nations can- 
 not honestly be in favor of any trade with us that 
 is not to our disadvantage is tacitly held by mul- 
 titudes and makes its appearance even in the 
 speeches of alleged statesmen and in official docu- 
 ments. Much false knowledge is constantly dis- 
 seminated by political orators and the press. 
 4
 
 SECONDARY SCHOOL 
 
 People think themselves competent to reason 
 about economic problems, however complex, with- 
 out any preparatory training. The general tend- 
 ency of popular economics is toward rash gener- 
 alizations. The fallacy of post hoc ergo propter 
 hoc is the typical popular formula of argument. 
 Again, the burning questions of our day are 
 economic. We have practically reached the end 
 of our supply of free land, which has hitherto 
 furnished an outlet for those who wished to better 
 their condition. We have come upon an era of 
 rising cost of living. Discontent is rife among the 
 more poorly paid workers. There is, therefore, 
 great danger that in our discontent we shall fly 
 in the face of economic law and do great damage 
 to the social organism. Economics is at once an 
 antidote to the resistance by interested classes to 
 beneficent reforms and to the ideas of visionaries 
 who are always making chimerical proposals. 
 We are confronted with questions relating to 
 the tariff, the cost of living, the trusts, various 
 proposals for changing national and state taxa- 
 tion, transportation, banking, currency, conser- 
 vation, the merchant marine, child labor, occupa- 
 tional diseases, the minimum wage, the eight-hour 
 day, immigration, and a multitude of other and 
 subsidiary economic problems. In the words 
 
 5
 
 ECONOMICS IN THE 
 
 of Dr. Burch, "Just as the world has passed 
 through its struggles for intellectual, religious, 
 and political freedom, so it is now on the threshold 
 of the great struggle for economic freedom and 
 social justice." This is well illustrated by the plat- 
 forms of the great parties adopted in 1912. All 
 of the economic questions enumerated above, and 
 others, are discussed in one or more of these plat- 
 forms and the majority are discussed in all of 
 them. If we omit the parts which appeal to the 
 record of the parties, or denounce other parties, 
 we shall find that more than half of what is left 
 of the Democratic and Republican platforms 
 deals with questions of a distinctly economic 
 nature, while the platform of the new Progressive 
 party devotes more than two thirds of its space 
 to the same sort of problems. The legislative 
 mills of 1913 ground out a grist of laws that have 
 an economic side which is without parallel. The 
 purpose of this legislation is almost without ex- 
 ception good, but there has been voiced an em- 
 phatic protest against the unwisdom of much of it 
 by some of the nation's wisest leaders in reform, 
 who can by no means be classed as conservatives. 
 Economics, then, even more than civics, is needed 
 by every voter or prospective voter as a part of 
 his equipment. No person without a considerable 
 6
 
 SECONDARY SCHOOL 
 
 knowledge of economic principles and some train- 
 ing in economic reasoning can form an opinion 
 of any value on many of the subjects which are 
 at issue to-day. We are safe in saying that a good 
 knowledge of economics is among the best assets 
 one can have who wishes to use his vote for the 
 public good. Besides helping the voter to form 
 an opinion on questions at issue, it will be a great 
 help to him in recognizing intelligent leadership 
 and will incline him to follow such leadership. 
 Men of affairs with a secondary-school training 
 in economics will be more likely than others to 
 give ear to the expert in the subject. 
 
 The ethical value of economics 
 
 Besides its contribution to the intelligence of 
 the citizen, economics has a decided value for his 
 ethical training. It inculcates self-help, it teaches 
 economy in expenditure, a lesson sorely needed 
 by the average American. The value of industry 
 and trustworthiness receives emphasis through 
 economic study. Like other social sciences, it 
 constantly inquires what is for the good of all. 
 It shows that the interests of humanity are one. 
 It takes a social point of view, and one who has 
 become habituated to taking this view has made 
 a great step toward understanding what right 
 
 7
 
 ECONOMICS IN THE 
 
 conduct is in any given case. It naturally leads 
 to public spirit, putting the good of the whole 
 before purely selfish ends, and this is the essence 
 of the purest patriotism. It teaches every man 
 to estimate his labors by the tendency to promote 
 the general good. Then a great many of the ques- 
 tions of right and wrong which confront us daily 
 have an economic side. It gives a proper esti- 
 mate of the place of wealth and the right use of it. 
 The individual is taught the effects which his own 
 private acts have upon society. No one can be 
 truly moral who does not consider the social re- 
 sults of his deeds. Many an act in which people 
 take pride appears in its true deleterious charac- 
 ter in the light of economic science. For example, 
 economics teaches men and women that extrava- 
 gant expenditure cannot be excused on the plea 
 that it gives employment to labor. It develops 
 breadth of thought, it cultivates the power to 
 judge fairly of many questions in everyday life. 
 In the study of economics, many supposed facts 
 will be found to be erroneous. In the future the 
 student will be more careful. This tends to en- 
 courage the love of truth. An insight into in- 
 dustrial conditions broadens the sympathy for 
 all sorts and conditions of men. It is certainly 
 conducive to a love of justice and leads the stu- 
 8
 
 SECONDARY SCHOOL 
 
 dent to see something outside the economic class 
 to which he belongs. 
 
 The vocational value of economics 
 
 There are also vocational values of economics. 
 The business man learns in economics many facts 
 which are of direct value in his vocation. As will 
 appear later, it is in commercial schools and 
 courses that economics is most frequently a re- 
 quired subject. The journalist, even if he is only 
 a reporter, finds it a constant help in his work. 
 The need of such knowledge is painfully evident 
 to an economist as he reads the newspapers. The 
 clergyman needs economics for the light it throws 
 upon many questions commonly discussed in the 
 pulpit. The lawyer should have it for its bearing 
 upon many of the economic-legal questions which 
 are often arising. A greater knowledge of eco- 
 nomics on the part of judges would have been of 
 great value to the country in the last few years. 
 All those who are called upon to administer pub- 
 lic offices are in constant need of the guidance 
 of economics. Those who devote themselves to 
 charitable work need its light on their problems. 
 The legislator, like the voter, but to a larger ex- 
 tent, should be equipped with the power of eco- 
 nomic reasoning. The capitalist needs it to guide 
 
 9
 
 ECONOMICS IN THE SCHOOL 
 
 him in his broad policies. The laborer needs it to 
 give him the right conception of his relation to 
 production, and laborers, as organized into unions, 
 need it constantly as a guide in deciding the pol- 
 icy of the organizations. The larger part of the 
 failures of labor organizations can be traced to 
 ignorance of economic laws. The contribution 
 of economics to vocational education is, then, a 
 large one. 
 
 The cultural value of economics 
 
 Just a word may be said about the cultural 
 value of economics, or its value as enlarging the 
 capacity for the enjoyment of life. Much of the 
 satisfaction of life comes from "an understanding 
 of all the elements of one's environment that rest 
 upon law and system." To understand our trade 
 relations or our monetary system is as truly a 
 part of cultural education as to understand chem- 
 istry or Lathi. " Such knowledge puts one in touch 
 and harmony with large and influential elements 
 of modern life. To be ignorant of them compels 
 one to just that extent to live as a stranger in a 
 strange land."
 
 II 
 
 THE SUITABILITY OF ECONOMICS AS A 
 SECONDARY SCHOOL SUBJECT 
 
 The secondary school furnishes the last chance to 
 teach the subject to any considerable number of 
 young people 
 
 SINCE, then, the knowledge of economics is of 
 such great importance that the topics of which 
 it treats are "fundamental for intelligent and 
 responsible citizenship," to say nothing of its 
 other values, it ought to have an honored place 
 in the program of every secondary school sup- 
 ported by the public funds unless it can be shown 
 that it is unsuitable for pupils in this grade. It 
 is the secondary school which furnishes the last 
 chance for systematic education in any subject. 
 It holds the strategic position and gives all the 
 preparation which many persons have who after- 
 ward come to important places of leadership in 
 their own communities and often in much wider 
 fields. 
 
 The opinions of educational authorities 
 
 The turning-point of the whole question is 
 the claim made by some, though a decided minor- 
 ii
 
 ECONOMICS IN THE 
 
 ity of those who have really studied the question, 
 that the subject is beyond the grasp of secondary- 
 school pupils. This is not the opinion, however, 
 of many of the leading educational experts. Pro- 
 fessor Hanus says, "We justly expect a modern 
 school to do its share in awakening interest in 
 and insight into our institutional life. . . . Accord- 
 ingly, we think that history, civics and econom- 
 ics, the social studies, should receive much fuller 
 recognition in secondary -school programs of 
 study than has been accorded to them hitherto." 
 Nicholas Murray Butler says, "In society as it 
 exists to-day, the dominant note running through- 
 out our struggles and problems is economic. . . . 
 Yet it is a constant struggle to get any proper 
 teaching from the economic and social point of 
 view put before high-school and college students. 
 They are considered too young and immature 
 to study such recondite subjects, though the nice 
 distinctions between the Greek modes and tenses 
 and the principles of conic sections with their 
 appeal to the highly trained intellectual imagina- 
 tion are their daily food." In a recent article 
 in the School Review, Commissioner Snedden 
 of Massachusetts has advocated the introduc- 
 tion of a two years' course "constituted of suit- 
 able units from civics, economics, ethics, ! and other 
 12
 
 SECONDARY SCHOOL 
 
 constituents of social science enriched with vital 
 and pertinent contributions from history." This 
 indicates that he does not consider economics, 
 properly treated, beyond the power of high-school 
 pupils. The famous Committee of Ten, though 
 they did not advocate economics as a separate 
 study, distinctly said that its fundamental prin- 
 ciples were not beyond the grasp of the sec- 
 ondary-school pupil. The Committee of Five 
 of the Department of Business Education of 
 the National Educational Association in its model 
 program included economics. Such leading col- 
 lege professors of economics as Daggett, of the 
 University of California, Laughlin, of the Univer- 
 sity of Chicago, Clark, of Columbia, Taussig and 
 Bullock, of Harvard, Patten, of the University 
 of Pennsylvania, and Ely and Commons, of the 
 University of Wisconsin, have written articles 
 in which the teaching of the fundamental prin- 
 ciples of economics below the college grade was 
 advocated. 
 
 The practice of leading schools 
 
 Economics is taught in such schools as the 
 New York High School of Commerce, the Boston 
 High School of Commerce, and the Central High 
 School of Philadelphia. Among other cities in 
 
 13
 
 ECONOMICS IN THE 
 
 which there are high schools having courses in 
 economics are Buffalo, Chicago, Dallas, Denver, 
 Louisville, Los Angeles, Newark, New Orleans, 
 Seattle, and Washington. Courses which are es- 
 sentially courses in economics are found in such 
 European schools of secondary grade as the Com- 
 mercial Academy of Vienna, the Commercial 
 Academy of Prague, the School of Higher Com- 
 mercial Studies at Paris, and the Public Commer- 
 cial Institute at Leipzig. 
 
 The evidence of those who are teaching the subject 
 
 The testimony of experience supports the au- 
 thorities who have been quoted. One of the ques- 
 tions in the questionnaire given in the preface was, 
 "How does the teacher feel that the results ob- 
 tained in the teaching of economics compare, in 
 proportion to the time given to the subject, with 
 the results obtained by him or her in other sub- 
 jects (a) as to quality of classroom work and (b) 
 as to the application to the pupil's life out of 
 school?" 
 
 Among the teachers replying were those who 
 also taught history, civics, ancient and tnodern 
 languages, mathematics, science, and commer- 
 cial subjects. There were sixty-three direct re- 
 plies to the first part of the question; of these 
 14
 
 SECONDARY SCHOOL 
 
 eighteen reported better results, thirty-seven re- 
 sults equally good, and only eight poorer results. 
 To the second part there were fifty-five answers, 
 twenty -four reporting better results, twenty- 
 seven equally good results, and four poorer re- 
 sults. Even if we count all failures to give a direct 
 answer as equivalent to saying that the results 
 were poorer, it still remains true that, in their 
 own opinion, about two thirds of the teachers 
 were getting results from economics, in both re- 
 spects equal or superior to the results in other 
 subjects. 
 
 This is a very remarkable showing when we 
 consider that only twenty of those replying con- 
 sidered their preliminary preparation for teaching 
 economics equal to their preparation for teach- 
 ing their other subjects. The replies as a whole 
 showed surprising enthusiasm for the subject 
 and belief in its value. Several teachers referred 
 to the testimony of their pupils to its value. One 
 boy said, "I can understand and enjoy the 
 heavier articles in magazines that I never would 
 have read if I had not taken economics." An- 
 other teacher wrote, "Some boys say, 'It is the 
 best subject I have ever taken except Commercial 
 Law.'" When we consider that a course in eco- 
 nomics is usually given only half as much time as 
 
 15
 
 ECONOMICS IN THE 
 
 a course in plane geometry, and often taught by 
 a teacher with little or no special training, the 
 answers are very encouraging. 
 
 The evidence of examination results 
 
 The reports of the New York state examina- 
 tions for 1912 confirm our other evidence. In 
 economics 27.3 per cent of the examinations 
 were rated below 60 per cent. Of all the papers 
 written by secondary-school pupils, 28.9 per cent 
 were below the grade of 60 per cent. Some in- 
 dividual subjects showed the following percent- 
 ages of failures: American history and civics, 
 25.6; ancient history (three periods), 30.4; 
 elementary botany, 30.3; civics, 30.4; commercial 
 law, 22.4; elementary drawing, 24; all English 
 subjects, 19.5; English grammar, 38.1; commer- 
 cial English and correspondence, 68; French, 
 28.6; German, 30.1; history of commerce, 60.6; 
 shorthand (2), 37.1; Latin, 36.1; physics, 25.7; 
 plane geometry, 27.3; all mathematics, 34.9. 
 The content of the course in economics on which 
 the New York Regents' examinations are based 
 is large for the time allotment and the examina- 
 tions are thorough and exacting. Similar sta- 
 tistics from New Hampshire and North Dakota 
 are of the same purport. 
 16
 
 SECONDARY SCHOOL 
 
 Economics as a college entrance subject 
 
 The fact that economics is widely accepted as 
 a college entrance subject is an evidence that it 
 is considered by many higher institutions a proper 
 study for the secondary school. The investiga- 
 tions of Clarence D. Kingsley into the question of 
 college requirements show that in 191 2, out of two 
 hundred and three colleges reported, fifty-seven 
 allowed economics to count one or more units 
 for admission to the A.B. course and thirty-five 
 allowed it to count one half a unit. Of eighty- 
 five engineering schools, fifty accepted. the sub- 
 ject for entrance; of thirty-one agricultural col- 
 leges, twenty-four. Among the institutions which 
 allow economics to count one or more units for 
 admission to the A.B. course are Leland Stan- 
 ford Jr. University, the University of Chicago, 
 the University of Michigan, Syracuse University, 
 and the University of Vermont. The study has 
 been recently added to the options which may be 
 offered at several institutions. 
 
 The failure to permit economics as an entrance 
 subject does not, however, indicate that the col- 
 lege authorities disapprove of economics for those 
 who are not to enter college. The recent omission 
 of economics from the options permitted in 
 
 17
 
 ECONOMICS IN THE 
 
 the old method of admission to Harvard was 
 prompted by the opinion that it is better for a 
 pupil who is to pursue economic courses in col- 
 lege to take his elementary course in college also. 
 The professor who brought about the change is 
 on record as approving the study of economics in 
 the secondary school. 
 
 What our evidence proves 
 
 From all the evidence we may be entirely satis- 
 fied that whenever the importance of economics 
 receives recognition and there is as much insist- 
 ence on having an adequate time allotment and 
 qualified teachers as in mathematics, language, or 
 science, the objection that the secondary-school 
 pupils cannot master its fundamental principles 
 will vanish. Of course a few weeks with the sub- 
 ject will not make an accomplished economist, 
 but it will come as near to it as the same number 
 of weeks will to making an accomplished physi- 
 cist or mathematician. 
 
 Why not sociology instead of economics in the 
 secondary schools ? 
 
 The question might be asked, "Why not have 
 sociology instead of economics in the secondary 
 school?" It has been advocated by some, and 
 18
 
 SECONDARY SCHOOL 
 
 there are a few secondary schools in which courses 
 are given with such texts as Dealey and Ellwood. 
 Admitting that secondary-school pupils are ca- 
 pable of doing profitable work in sociology, it is 
 still true that economics has far more to give 
 which bears directly upon the questions which 
 public opinion is called upon to decide than does 
 sociology. It also contains much more which 
 has direct connection with the probable future 
 vocations of the pupils. A cursory comparison 
 of the tables of contents of an elementary book 
 on sociology and a similar book on economics 
 would be sufficient to show this. Moreover, 
 sociology is still in a formative stage. The study 
 of sociology should follow and not precede the 
 much more definite subject of economics. There 
 may ultimately be found in the secondary school 
 a place for some of the principles of sociology, but, 
 if so, they should come in addition to and not in 
 place of economics.
 
 Ill 
 
 THE PRESENT STATUS OF ECONOMICS IN 
 THE SECONDARY SCHOOL 
 
 The extent to which it is now taught 
 
 THERE is not sufficient evidence to enable one to 
 give a definite statement as to what extent eco- 
 nomics is now taught in the secondary schools of 
 the United States. In 1912 the writer had access 
 to the records of two publishing houses which 
 covered all subjects taught in about eighteen hun- 
 dred secondary schools. These records were made 
 for business purposes and were entirely free from 
 bias. There were, of course, many small schools 
 and some good-sized ones which were not listed. 
 About one fifth of the schools reporting had 
 courses in economics. As to the proportion of the 
 pupils who take economics in the schools where 
 it is offered, information is also regrettably in- 
 complete. The writer has statistics from sixty- 
 three schools which in 1912 graduated about 
 fifty-three hundred pupils in all courses, of whom 
 thirty-six per cent had taken economics. Pro- 
 fessor Stewart Daggett, of the University of Cali- 
 20
 
 ECONOMICS IN THE SCHOOL 
 
 forma, in 1912 sent out letters to the large high 
 schools in all parts of the country. Of one hun- 
 dred and thirty-three such schools, fifty -six 
 taught the subject of economics. These figures 
 appear much more favorable than those before 
 cited, but it is to be remembered that his letters 
 went to the larger schools only. 
 
 The study of economics in the secondary schools is 
 increasing 
 
 In 1893 about one twentieth of the schools 
 replying to the circular of the Committee of Ten 
 reported courses in economics. The evidence 
 already given shows a large increase since then. 
 At present economics is usually found in commer- 
 cial schools and hi the commercial courses of 
 large high schools, where it is often a required 
 study. Of the fifty-four schools reporting the 
 date of the introduction of the subject in answer 
 to the writer's questionnaire, twenty-four had in- 
 troduced it within five years, and thirty-six within 
 ten years. The state superintendents of Iowa, 
 New Hampshire, and Ohio report a decided in- 
 crease of late. From 1894 to 1910 the number of 
 schools in Minnesota giving economics increased 
 from twelve to forty-six. In New York there has 
 been a decrease due to the increased severity of 
 21
 
 ECONOMICS IN THE 
 
 the examinations, which are now rather hard, 
 considering the time allotment. Formerly they 
 were very easy. Wisconsin also reports some fall- 
 ing-off , though forty-seven per cent of the schools 
 reported still teach the subject. Professor Dag- 
 gett reports that answers to his inquiries indi- 
 cate that "not only is the teaching of economics 
 common, but there is a marked belief that the 
 demand for it will increase. . . . The conviction 
 that the demand will increase is not confined to 
 the schools which are giving economics." The 
 facts that economics is generally considered a 
 proper study for the commercial course, and that 
 this course is meeting with increasing favor in the 
 entire country, point unmistakably to a large in- 
 crease in the numbers of pupils taking the study. 
 As its suitability to the secondary-school pupil 
 is demonstrated by its success in the commercial 
 course, its introduction into other courses will 
 become easy. It is nevertheless true that on the 
 whole the increase in the teaching of economics 
 has been slower than it ought to have been. There 
 are several reasons for this, one of which, the be- 
 lief that the subject is beyond the ability of the 
 secondary -school pupil, has been discussed at 
 length in chapter n. We shall now examine some 
 of the other reasons. 
 
 22
 
 SECONDARY SCHOOL 
 
 The belief that proper teachers cannot be had 
 
 It has been argued that we should not have the 
 subject in secondary schools because proper 
 teachers cannot be had. It is true that the ideal 
 teacher of the subject is a person of rare qualifica- 
 tions. He should be a person with a good special 
 preparation and of a judicial mind. Few schools 
 have enough economics to take all the time of one 
 teacher. However, economics is very largely 
 studied in colleges. During the year 1909-10, no 
 less than fifteen thousand students were begin- 
 ning the subject in higher institutions. If edu- 
 cational authorities would insist that every new 
 teacher of history, or at least every head of a his- 
 tory department, should possess an adequate 
 training in economics as well as history and civics, 
 the difficulty would pass away. In Iowa, which is 
 the banner State in the teaching of economics, 
 the subject is by law required for the first-grade 
 certificate. The writer would not wait for an ade- 
 quate supply of competent teachers, but would let 
 the demand create the supply as has been done 
 in practically all of the newer subjects. He would, 
 however, insist on having the subject taught by 
 a person interested in it, in order that it may 
 not be discredited. Teachers should be encour- 
 23
 
 ECONOMICS IN THE 
 
 aged to study the subject in university extension 
 courses, in summer schools, or, where these op- 
 portunities are not open, by correspondence. 
 The returns quoted above show that many teach- 
 ers with comparatively small preparation feel 
 that they are doing profitable work. 
 
 The objection that economics deals with 
 controverted questions 
 
 Another objection is that economics deals 
 with matters which are controverted questions 
 and economists themselves differ on many points. 
 In the first place there is a sufficient body of 
 accepted doctrine for an elementary course. 
 Many of the propositions of economics are as 
 well established as any in geometry. When ques- 
 tions which are political issues come up, they may 
 be freed from the false popular arguments which 
 are common and the real grounds for belief in 
 each side presented. The teacher should maintain 
 a position of absolute fairness on controverted 
 questions. He should establish by example the 
 habit of open-minded consideration of disputed 
 questions. He should also make it plain that other 
 than economic considerations may properly 
 enter into the decision of many practical ques- 
 tions. Economics does not furnish a set of rules 
 24
 
 SECONDARY SCHOOL 
 
 for the settlement of all social questions. He may 
 raise the whole discussion above the ordinary 
 level and leave the pupil to decide for himself. 
 Professor Daggett well says, "I think that the 
 boy and girl [he lives in California] who are to 
 pass on economic questions as voters should be 
 trained in economic reasoning by disinterested 
 teachers before they are called upon to vote. . . . 
 I want to see every voter accustomed to the analy- 
 sis of economic problems and to the criticism of 
 economic arguments before his decisions have to 
 count." 
 
 The too scientific treatment of the subject 
 
 It is probable that the teaching of economics 
 in the secondary school has often failed on account 
 of the too scientific treatment of the subject. It is 
 a common fault of college-trained teachers to try 
 to teach secondary-school subjects in the way 
 in which their own professors taught the subjects 
 to them. This is less likely to happen in studies 
 which the teacher himself began in the secondary 
 school than in studies which the teacher has taken 
 only in college. Textbooks not adapted to the 
 secondary-school pupil are in frequent use in 
 classes in economics and it is surprising that such 
 good results are often attained with these books. 
 
 25
 
 ECONOMICS IN THE 
 
 The teacher should be sure to select a textbook 
 which is not too hard and in all the teaching to 
 remember that he is not dealing with college 
 students. 
 
 The objection that proper textbooks do not exist 
 
 The fact that economics is being successfully 
 taught by a large number of teachers is in itself 
 a refutation of this objection. In chapter v will 
 be found a discussion of several textbooks in 
 actual use. 
 
 The objection that the curriculum is already 
 overcrowded 
 
 Again, it is said that the curriculum is already 
 overcrowded. Without doubt this has been one 
 of the chief reasons for the comparatively slow 
 progress of economics in gaining a place in the 
 secondary school. This raises the question of the 
 relative educational value of the different sub- 
 jects, a question which cannot be discussed here 
 at length. If economics has the importance 
 which the writer has tried to set forth, there are 
 few subjects which ought to be allowed to take 
 precedence of it. It may be suggested that the 
 time allotment of some subjects could be cut down 
 and others could be made optional where they 
 26
 
 SECONDARY SCHOOL 
 
 are now required. Many pupils, especially in the 
 general courses, give a disproportionate amount 
 of time to foreign language study for a well- 
 rounded course. In many schools this study could 
 be diminished with advantage. One foreign lan- 
 guage is all that a pupil who is not fitting for a 
 higher institution should study. Professor Man- 
 chester, of the Illinois State Normal School, 
 would give one fourth of the time in a secondary- 
 school course to language and literature, one 
 fourth to science and mathematics, one fourth to 
 history, civics, commercial geography, and eco- 
 nomics, and the other fourth to electives. In the 
 best commercial schools and courses, time is al- 
 ready found for economics as a required study. 
 Economics is commonly and properly considered 
 as belonging to the same group as history and 
 civics. At the present time economics and civics 
 are both treated as the poor relatives of the differ- 
 ent blocks of history, whereas, by reason of their 
 importance, they ought to be the most honored 
 members of the group. The whole object of the 
 teaching in this group of studies ought to be prep- 
 aration for intelligent citizenship. History it- 
 self should be taught to show how the present 
 has grown out of the past. It is the present that 
 is important. Commissioner Snedden, in the 
 27
 
 ECONOMICS IN THE 
 
 article already mentioned, questions whether 
 history really functions socially. It certainly 
 would be more likely to do so if taught with the 
 conscious aim of citizenship and the course 
 crowned by a thorough study of civics and eco- 
 nomics. The writer, who has had about equal 
 training in history and economics, but has taught 
 chiefly history, believes a good course in either 
 civics or economics of much greater practical 
 social value than a course in any one of the his- 
 torical fields commonly studied. He would not 
 omit history, but he would unhesitatingly dimin- 
 ish its amount if that is the only way to get time 
 for civics and economics. There are various ways 
 of compressing the secondary -school history 
 course into three years and at the same time cov- 
 ering practically the entire field. Where only a 
 small amount of history is required for a diploma, 
 there is really no difficulty about finding time for 
 civics and economics, without interfering with 
 the necessary history. In view of their impor- 
 tance, these two studies should together be given 
 at least five hours per week for a year. As they 
 both deal with citizenship and overlap in many 
 places, they should be closely correlated and the 
 best method of securing this correlation is to have 
 them both taught by the same person, naturally 
 28
 
 SECONDARY SCHOOL 
 
 the head of the department or the best teacher in 
 the department. How the necessary time for civ- 
 ics and economics may be found will receive 
 further discussion in the next chapter. 
 
 The proposed teaching of economics through some 
 other subject or subjects 
 
 In this connection may properly be considered 
 the proposal, favored in the Report of the Com- 
 mittee of Ten, that economics be taught through 
 other subjects. They recommend that the essen- 
 tial facts of economics be taught in connection 
 with history, civics, and commercial geography, 
 and that no separate course in economics be given. 
 When they come to particulars, however, it ap- 
 pears that the subject will really become a part 
 of the course in American history. For example, 
 the theory of value is to come with the study of 
 the tariff; in connection with Jackson's adminis- 
 tration, crises, banks, money, paper currency, and 
 bimetallism are to be taken up. The topics thus 
 enumerated in various historical connections in- 
 clude most of those which would be taken up in 
 a secondary-school course. A trained teacher of 
 economics could undoubtedly do the work in 
 the way indicated if he were allowed to subor- 
 dinate many things usually taught in history or 
 29
 
 ECONOMICS IN THE 
 
 to have about twice the usual time allotment, 
 but it is pretty sure that the trained economist 
 would prefer to teach economics by itself and that 
 the inexperienced teacher would get far inferior 
 results to those which would be secured with the 
 use of a good textbook. As Professor Manches- 
 ter, of the Illinois State Normal School, shows, 
 experience proves that when economics is left to 
 be taught in this way it simply is not taught. It 
 is safe to say that this proposal has never been 
 carried out. Certainly no books have ever been 
 written on this theory. The report of the Com- 
 mittee of Five of the American Political Science 
 Association on the teaching of civics in the sec- 
 ondary school is significant in this connection. 
 They take up the question of the teaching of 
 civics, as is commonly done, in connection with 
 American history and devote much space to its 
 discussion, coming to the unanimous and em- 
 phatic conclusion that the subject should be 
 taught as a separate study. If civics requires a 
 separate course to secure adequate treatment (as 
 is doubtless true), it seems evident that econom- 
 ics requires it more. 
 
 Closely akin to the proposal to teach economics 
 through American history is the proposal advo- 
 cated by Professor F. H. Dixon, set forth in an 
 30
 
 SECONDARY SCHOOL 
 
 article in the School Review for January, 1898, to 
 teach economics through industrial history. He 
 claims that the use of a textbook on economics 
 has proved a failure. The writer of this paper 
 believes the evidence he has already given dis- 
 proves this, for practically all of those who an- 
 swered his questionnaire based their work upon a 
 textbook. Professor Dixon says that a textbook 
 of convenient size for high-school use can contain 
 nothing but the barest statement of definitions 
 and principles, and, unless life is infused into these 
 principles by the teacher, the work is without 
 result. He also thinks that the pupil fails to get a 
 due idea of the development of the present form 
 of economic society. Now, textbooks do contain 
 a considerable amount of illustrative material 
 and the good teacher will supply more. If the 
 pupil has had good historical courses he knows 
 that the present grows out of the past, and be- 
 sides, he can understand the present working of 
 most economic laws without reference to history. 
 For instance, it is not at all necessary for a pupil 
 to wade through a history of land tenure in order 
 to understand the law of diminishing returns or 
 the law of rent. Though Professor Dixon believes 
 that the secondary-school pupil cannot learn eco- 
 nomics with a textbook as a basis, he does not
 
 ECONOMICS IN THE SCHOOL 
 
 hesitate to recommend a great deal of reading in 
 a long list of books of which Gross's Gild Merchant 
 and Fowle's Poor Law are samples. We may 
 safely, it seems, dismiss the idea that a pupil can 
 somehow come to a real understanding of eco- 
 nomic principles by taking them up piecemeal in 
 connection with industrial or other history when 
 he is unable to grasp them if presented with a 
 textbook on economics as a basis.
 
 IV 
 
 PLACE OF ECONOMICS IN THE CURRICULUM 
 AND ITS RELATION TO OTHER SUBJECTS 
 
 Economics belongs among the "social studies" 
 with history and civics 
 
 IN what has just been said, it has been taken for 
 granted that economics belongs to the same group 
 or department of studies with history and civics. 
 The only other department which would have any 
 claim on it would be the commercial department. 
 But the ami of the commercial department is 
 primarily vocational, while the aim of the de- 
 partment of history and social science should be 
 primarily preparation for citizenship. Teachers 
 of history and civics are, on the whole, more likely 
 to be qualified to teach the subject than the teach- 
 ers of commercial branches. They are, in fact, the 
 only teachers in the secondary school who are 
 specifically trained to think in terms of the social 
 organism. The replies to the writer's question- 
 naire show that economics is taught by about 
 twice as many teachers whose chief work is his- 
 tory and civics as by those whose work is prin- 
 
 33
 
 ECONOMICS IN THE 
 
 cipally in commercial subjects. The fact that 
 economics is almost uniformly classified with 
 history and civics in educational books and official 
 documents renders extended argument on this 
 matter superfluous. The existing committee of 
 the National Education Association on the Articu- 
 lation of High School and College, in subdividing 
 its work established a committee on "social 
 studies" which include civics, economics, and 
 history. To the writer the expression "social 
 studies" seems a very happy one. It will be for- 
 tunate if the nomenclature becomes general, for 
 it will focus attention upon the true function of 
 the department which has hitherto been called the 
 history department. In the opening sentence of 
 the preliminary report upon "Social Studies" 
 made at the meeting of 1913 are these significant 
 words, "It is probable that the high-school 
 teachers of the social studies have the best oppor- 
 tunity ever offered to any social group to improve 
 the citizenship of the land." 
 
 Economics, with civics, should be a required 
 subject 
 
 If our reasoning up to this point has been 
 sound, it follows that civics and economics should 
 be required subjects for all pupils who are not 
 34
 
 SECONDARY SCHOOL 
 
 definitely fitting for higher institutions of learn- 
 ing, where they will have opportunity later to 
 pursue the subject. To require these studies is in 
 accord with the best modern educational theory 
 which favors the teaching, not of those subjects 
 which are supposed to train the faculties, but of 
 those subjects with which the mature mind will 
 have to deal. At present, few schools require 
 economics. There are more which require civics. 
 Of the schools replying to the writer's question- 
 naire, about one third require the subject in the 
 commercial course. About one eighth require it 
 in one or more courses aside from the commercial 
 course. In Quincy (Illinois), Arvada (Colorado), 
 and the Central Manual Training School of Phil- 
 adelphia, it is required of all pupils. At Dean 
 Academy, Franklin, Massachusetts, all pupils, 
 except the college preparatory, are required to 
 take the same subjects in the senior year, about 
 two fifths of the time being given to civics, and 
 three fifths to economics. The two subjects con- 
 stitute a single course under the same teacher. 
 This is the ideal arrangement unless even more 
 time can be given to these very important 
 subjects. 
 
 35
 
 ECONOMICS IN THE 
 
 Girls should not be excused from studying economics 
 
 In this connection, the question might be 
 raised whether the "citizenship course" should 
 be required of girls as well as boys. It was the 
 experience of Professor Clow, in his classes of 
 normal-school pupils, that the young women did 
 not do as good work as the young men. The num- 
 ber of young women who failed to pass was, how- 
 ever, only 4.7 per cent, while 2.6 per cent of the 
 young men failed. The great majority of the 
 young women had creditable records. Most girls 
 in the last years of their secondary-school course 
 are certainly capable of profiting by the study 
 of economics. In the States where women possess 
 the same voting privileges with men there would 
 seem to be no foundation whatever for making 
 any distinction. Though not an advocate of 
 woman suffrage, the writer would favor requiring 
 economics and civics of girls as well as boys hi all 
 States. The influence of women hi public affairs 
 is constantly increasing and woman suffrage may 
 be extended to other States. At any rate, it is 
 important that woman's influence, whether great 
 or small, should be based upon knowledge rather 
 than upon ignorant sentiment. The broadening 
 influence of economics is especially valuable for 
 36
 
 SECONDARY SCHOOL 
 
 girls, as it takes them into a field in which they 
 would otherwise probably not become interested. 
 Women as a class are brought into contact less 
 with the world than men and therefore have even 
 more need to study economics. Women, too, 
 have a great influence in the very important mat- 
 ter of expenditure. The training of American 
 women in the wise and harmonious expenditure 
 of money would be of incalculable benefit to our 
 nation. The charitable work of the community 
 tends to fall largely into the hands of women and 
 without the power to think clearly on social 
 subjects they are likely to do more harm than 
 good in many cases by so-called charitable work. 
 
 Economics should be studied in the last year of the 
 course 
 
 It is desirable that the subject of economics be 
 approached with considerable maturity of mind. 
 There is no danger that the secondary-school 
 pupil will have passed the plastic stage. It is, 
 therefore, advisable to give him economics in the 
 last year of his course. In seventy-three per cent 
 of the schools of which the writer has information, 
 the study comes in the fourth year; in fourteen 
 per cent, in the third year; and in eleven per 
 cent, in either the third or fourth year. It is evi- 
 
 37
 
 ECONOMICS IN THE 
 
 dent that the overwhelming opinion favors the 
 fourth year. 
 
 The minimum length of the course 
 
 The available statistics show that by far the 
 commonest time allotment is a daily recitation 
 for one half-year. Some schools give three periods 
 for a year and a few still more. It seems to the 
 writer that the minimum time allotment should 
 be five periods per week for a half-year. One 
 semester is a short time allotment in compari- 
 son to the importance of the subject. When we 
 compare a half-year with the year usually given to 
 such subjects as algebra and geometry and three 
 or four years given to a language, which will, in 
 the case of three fourths of the pupils who study 
 it, have no point of contact with their life after 
 they leave school, this is self-evident. Twice the 
 time would produce more than twice the results, 
 but one semester is certainly worth having. 
 Where a year can be given to the subject civics 
 should come in the third year or run parallel with 
 economics in the fourth. 
 
 The relation of economics to civics 
 
 Our previous discussion has brought out the 
 fact that the writer considers civics as next in 
 
 38
 
 SECONDARY SCHOOL 
 
 importance to economics in the formation of in- 
 telligence on public questions. Civics and eco- 
 nomics may well form one unit, that is, a five-hour 
 course for a year. For this arrangement we have 
 the distinguished support of the Committee on 
 "Social Studies" of the National Education As- 
 sociation to which reference has already been 
 made, who give this unit the title "Economics 
 and Civic Theory and Practice." 
 
 The relation of economics to history 
 
 What shall we do, then, with the four famous 
 blocks of history of the Committee of Seven of 
 the American Historical Association? There is 
 one very simple solution, namely, to teach only 
 three of the blocks and use the place of the other 
 for civics and economics. Ancient history might 
 come the first year, mediaeval and modern, the 
 second year, and American history the third year. 
 In this case the English part of the European 
 history should be emphasized. Another way is to 
 do as above except that the second-year course 
 might consist of English history with a setting 
 of the most important parts of Continental his- 
 tory. The way the writer would personally ad- 
 vocate is to divide European history into two 
 parts, the first to cover both ancient and mediaeval 
 
 39
 
 ECONOMICS IN THE 
 
 history and the second to cover modern history, 
 each part to have one year. In this way recent 
 European history receives due emphasis. The last 
 two years of the course are then left for American 
 history and a course in civics and economics. 
 Textbooks intended to cover European history 
 in two years are already appearing. The Commit- 
 tee of Five of the American Historical Association 
 significantly say, "We are . . . not ready to assert 
 that the course of the world's history can in no 
 case be covered intelligently and effectively in 
 three years." Another way is to offer all of the 
 four blocks of history as electives, simply pre- 
 scribing that a minimum amount of history be re- 
 quired. If a pupil has time for it, the author sees 
 no objection, but on the contrary great advan- 
 tage, in a pupil's pursuing United States history 
 at the same time that he is taking civics and 
 economics. 
 
 The Committee of Seven and the Committee of 
 Five of the American Historical Association may 
 be justly criticized for giving no attention to the 
 need of finding a place for economics in connec- 
 tion with history and civics. The Committee of 
 the National Education Association on Social 
 Studies have not made this mistake. They have 
 proposed the following five units: (i) Community 
 40
 
 SECONDARY SCHOOL 
 
 civics and survey of vocations; (2) European his- 
 tory to 1600 or 1700; (3) European history to the 
 present time (including contemporary civiliza- 
 tion;) (4) United States history since 1760 (in- 
 cluding current events) ; (5) economics and civic 
 theory and practice. They contemplate a scheme 
 for reducing the history to two units, where 
 necessary, but how this is to be done is an open 
 question. Without indorsing all the details, the 
 writer feels that this committee's ideas as to the 
 function of the social studies and the content of 
 the course are essentially sound. 
 
 In the teaching of history the economic and 
 civic phases should be emphasized. History fur- 
 nishes many illustrations of economics laws. 
 For example, the Black Death can be used to 
 teach the pupil about wages and the assignats 
 of the French Revolution to teach him about in- 
 flation. It is well that the pupil should receive 
 considerable incidental teaching in economics 
 before he takes up its systematic study. The 
 teacher ought always to have the conscious aim 
 of fitting for citizenship and in particular of 
 preparing the pupil for the systematic study of 
 civics and economics. Every course in history, 
 and American history in particular, can be made 
 to minister to these ends. 
 41
 
 ECONOMICS IN THE 
 
 The relation of economics to subjects other than 
 those already discussed 
 
 In general, there is little attempt to correlate 
 other subjects with economics. In commercial 
 schools and the commercial departments of large 
 schools, it is usually preceded by commercial 
 geography, commercial law, and often by com- 
 mercial or industrial history. The usual content of 
 commercial geography is probably the best of all 
 preparations for the study of economics. If the 
 pupil knows the principal facts of commerce and 
 industry, of climate and the geographical factors 
 affecting production, and of agriculture, manu- 
 facturing, and transportation, he has a decided 
 advantage over a pupil who has not had such a 
 course. 
 
 Certain parts of commercial law are of great 
 value as a preparation for the profitable study 
 of economics. Commercial and industrial history 
 also furnish an excellent apperceptive basis for 
 economics. In all these subjects there should be 
 a definite effort to prepare the pupil for the later 
 study of economics. Bookkeeping is a decided 
 help in understanding certain phases of the sub- 
 ject of corporations. In the New York High 
 School of Commerce the study of mathematics 
 42
 
 SECONDARY SCHOOL 
 
 is definitely correlated with economics through 
 the instruction on graphs. 
 
 The same school has a required two-period 
 course for the first half-year in local industries. 
 It is designed to be of immediate value to the boys 
 who must leave school early in the course to go to 
 work and to be a preparation for the later course 
 in economics. It is so managed as to give not 
 only much descriptive economics, but to bring 
 out a number of important economic principles. 
 A detailed description of this course is given by 
 A. L. Pugh in the History Teacher's Magazine for 
 December, 1909. 
 
 Economics and closely related subjects in the 
 commercial course 
 
 So far we have not specifically discussed the 
 commercial course. In actual practice it is in 
 this course that economics is most frequently 
 found. Here also we find the best preparation 
 in the earlier years for the study of economics in 
 later years. In the curriculum for High Schools 
 of Commerce recommended by the Committee 
 of Nine, Department of Business Education of 
 the National Education Association, we find the 
 following arrangement of studies which have 
 close relations with economics: 
 
 43
 
 ECONOMICS IN THE 
 
 FIRST HALF 
 
 SECOND HALF 
 
 First 
 year 
 
 Second 
 year 
 
 Third 
 year 
 
 Fourth 
 year 
 
 Commercial products 
 or local history 
 and industry, 
 5 periods. 
 
 United States 
 history, 
 
 5 periods. 
 
 History of commerce, 
 5 periods. 
 
 General history to 
 800 A.D., 
 
 5 periods. 
 
 Commercial geography, 
 
 5 periods. 
 
 English and European 
 history, 
 
 5 periods. 
 
 Economics, 
 
 4 periods. 
 Commercial law, 
 
 4 periods. 
 
 Civil government, 
 
 5 periods. 
 
 This is an excellent arrangement of studies, 
 which provides an unusually fine training for 
 intelligent citizenship. It would be better if the 
 history of commerce had the place of economics 
 (including the time allotment), civics the place 
 of history of commerce, and economics the place 
 of civics. The makers of actual commercial 
 courses have usually put economics in the fourth 
 year. This is where the study comes in the courses 
 of such schools as the Boston High School of 
 Commerce, the Los Angeles Polytechnic High 
 
 44
 
 SECONDARY SCHOOL 
 
 School, and the New York High School of Com- 
 merce. 
 
 The proper content of a secondary-school course in 
 economics 
 
 A very important question is what should be the 
 content of a secondary-school course in economics. 
 This depends primarily on two factors, the time 
 allotment and the purpose of the course. The 
 purpose of the course is to make the pupil inter- 
 ested in and intelligent about the economic ques- 
 tions which will confront him after leaving school. 
 The thing to be striven for is ability to observe 
 economic phenomena and to think accurately 
 about economic questions, to appreciate valid 
 arguments which he will read, or hear, and to 
 detect invalid arguments. The quality of the 
 work is of greater importance than the ground 
 covered. The North Dakota Manual for High 
 Schools well says, "The larger part of the time 
 should be devoted to a mastery of underlying 
 principles which are now accepted as axiomatic. 
 . . . The greater portion of the work on the course 
 should be put on: Consumption of wealth, pro- 
 duction of wealth, definition, factors; exchange, 
 money, banking and credit, international trade, 
 tariff; distribution, interest, rent, profit, wages; 
 
 45
 
 ECONOMICS IN THE SCHOOL 
 
 review of elementary concepts, wealth, capital, 
 value, utility; and study of economic problems, 
 public finance, socialism." The New York sylla- 
 bus goes into great detail. It errs, in the opinion 
 of the writer, in being too extensive for a time 
 allotment of two periods per week for a year. It 
 contains a good deal of material about New York 
 State which would be better omitted in a short 
 course. It brings in such problems as socialism, 
 government control of industry, transportation, 
 taxation, etc., under some one of its three main 
 divisions: consumption, production, and distribu- 
 tion. It would seem better to take the fundamen- 
 tals first and then give such time as is available 
 to the study of special problems. It is, however, 
 a careful and logical piece of work which will 
 repay study by any teacher of economics. Chap- 
 ter vn of this monograph contains a detailed 
 discussion of the question of the proper content 
 of the secondary-school course in economics.
 
 METHODS OF TEACHING ECONOMICS 
 
 The work should be based upon a good textbook 
 
 WHERE economics is given as a separate subject 
 the use of a textbook as the basis of the work ap- 
 pears to be well-nigh universal. But the textbook 
 in economics must not be expected to teach the 
 subject by itself any more than a text in physics 
 or geometry would be expected to do so. Some 
 of the textbooks contain a preliminary survey of 
 economic history, but none of them make any 
 particular use of this material in the later parts 
 of the book. There is some value, perhaps, in 
 this, but, if the time is short, the writer would 
 advise entering at once upon economics proper. 
 The best textbook available should be selected 
 and all work should center around that one book. 
 The definitions in economics are very important 
 and should be very carefully explained. The 
 teacher should take great pains to see that the 
 pupils fully grasp the principal economic con- 
 cepts. Socialism, monopolies, and trusts cannot 
 
 47
 
 ECONOMICS IN THE 
 
 be discussed intelligently unless we know the 
 ideas for which they stand. One cannot follow 
 the argument for or against the single tax unless 
 he has thoroughly grasped the concept of rent. 
 Every definition and law must be abundantly 
 illustrated from actual life, and the more familiar 
 and simple the life, the better. Illustrations fur- 
 nished by the pupils and from the life with which 
 they are familiar should be sought. For instance, 
 the law of normal value can be made plain by 
 reference to the articles which members of the 
 class are in the habit of buying. The pupil must 
 be constantly made to realize that the subject has 
 to do with the actual life of men. When an ab- 
 stract principle is stated it should always be illus- 
 trated by something within the knowledge of the 
 pupils in the class. In the words of Professor Clow, 
 "If John cannot grasp the proposition that a 
 change in prices causes an inverse change in de- 
 mand, he will see the point quickly when asked 
 what effect the rise and fall in the price of books, 
 clothing, or railroad travel would have in his 
 demand for them." 
 
 The recitation in economics 
 
 The recitation in economics should conform to 
 what is generally recognized as good practice 
 48
 
 SECONDARY SCHOOL 
 
 in other subjects. 1 A few suggestions may, how- 
 ever, properly be made. If there was written 
 work at the preceding recitation it may be briefly 
 criticized. Examples of good work and of poor 
 work may be read, excellences and faults being 
 indicated. The writer would advise brief written 
 exercises at frequent intervals. The fact that a 
 pupil may have a written exercise at any time is 
 a great help in securing careful preparation. Writ- 
 ing leads to accuracy and precision of thought. 
 Definitions, economic laws, and answers to eco- 
 nomic problems are excellent things to have writ- 
 ten. Sometimes the question or questions should 
 be on the lesson of the preceding day and some- 
 times on the new lesson, or sometimes on both. 
 While writing is very valuable it should not oc- 
 cupy a very large part of any ordinary recitation 
 period. Five minutes will usually suffice for such 
 written work as the writer has in mind. The class 
 should always be quizzed orally to discover 
 gaps in knowledge and fill them in. There should 
 be great freedom for pupils to ask questions. Dis- 
 cussion, not too prolonged, and germane to the 
 subject, should be encouraged. The Socratic 
 method is well adapted to economics, but the 
 
 1 See the Recitation, by G. H. Betts (Riverside Educational 
 Monographs). 
 
 49
 
 ECONOMICS IN THE 
 
 teacher must exercise vigilance to prevent the 
 waste of time. The pupil should be encouraged 
 to challenge the opinion of the author and the 
 teacher, provided he does it intelligently. Pupils 
 get great pleasure from the discovery of the errors 
 of others. The assignment of the next lesson 
 should be done with deliberation. In making it, 
 the teacher should point out the difficulties to be 
 encountered and give sufficient help so that the 
 pupil can surmount them. He should prepare 
 himself as carefully to make the assignment of 
 the next lesson as to conduct the recitation on the 
 lesson of the day and should be sure to reserve 
 adequate time for this important task. 
 
 How to fix concepts and principles in the mind 
 
 A great danger in economics is that the stu- 
 dent will readily assent to the statement of prin- 
 ciples, which in many cases seem self-evident, but 
 will not apply the principles in his own thinking. 
 He is also likely to fail to use the concepts which 
 he has acquired. Problems and more problems is 
 the remedy for this fault. Every problem should 
 be strictly relevant to the matter in hand, should, 
 as a general rule, sharply isolate the point to be 
 made, but should not be too simple. A problem 
 may have more than one possible answer because 
 50
 
 SECONDARY SCHOOL 
 
 it may be that good authorities differ. Or it may 
 have different answers according to different 
 conditions. For example, the question might be 
 asked, "What is the incidence of a tax on dwell- 
 ing-houses?" Under normal circumstances the 
 answer would be that the tax falls upon the ten- 
 ant, but this would not necessarily be true in 
 a community which is diminishing in numbers. 
 Economic laws of the greatest significance and 
 true in general, or in the long run, often do not 
 work out in some exceptional case. This does not 
 disprove their general validity, but the pupil 
 should learn that there are exceptions to many 
 economic laws. There is sometimes a chance to 
 use arithmetical problems which will illustrate 
 such topics as the law of rent or monopoly price. 
 There may well be a few problems to illustrate 
 the complexity of real life. Several of the short 
 textbooks on economics contain questions and 
 problems, some of which are very good. A book 
 called Outlines of Economics developed in a Series 
 of Problems by Members of the Department of 
 Political Economy of the University of Chicago 
 contains many problems which are not beyond 
 the ability of the secondary-school pupil and de- 
 serves high commendation. 
 The following are examples of good problems :
 
 ECONOMICS IN THE 
 
 1. Is a share of stock in the Cunard Steamship 
 Company wealth from the standpoint of eco- 
 nomics? 
 
 2. A newspaper reports that King Haakon of Nor- 
 way made this statement, "I could black my 
 own boots if I wished to. I have done it and 
 therefore know how, but if I did, what would 
 become of the people who make their living by 
 blacking boots? " What does the economist say 
 about this? 
 
 3. Is a railroad an instrument of production, of ex- 
 change, or of distribution, in the economic sense? 
 
 4. Why does any farmer cultivate more than one 
 acre at any one tune ? 
 
 (University of Chicago Outlines.) 
 
 5. If the supply of all commodities were suddenly 
 doubled, would any change in their relative values 
 ensue? 
 
 6. We pay one hundred and ten million dollars per 
 annum for the carrying of products between this 
 and foreign countries. Think of it! One hundred 
 and ten million dollars in gold com has gone out 
 of the commerce of this country into the com- 
 merce of other countries. Can New York stand 
 this? (Speech of James G. Blame in 1881.) 
 
 (a) Is it likely that we lost one hundred and ten 
 million dollars in gold from our circulation be- 
 cause we hired foreigners to carry our goods? 
 
 (b) Is it likely that we even temporarily parted 
 with that much gold on that account? 
 
 (c) Is it likely that as a nation we should have 
 
 52
 
 SECONDARY SCHOOL 
 
 been that much richer if we had done this carry- 
 ing of products for ourselves? 
 
 (University of Michigan.) 
 
 7. A Boston daily paper, July 21, 1913, contained 
 the following squib, anent the salary of Secre- 
 tary of State Bryan: "Still, $12,000 a year is 
 $12,000 and not $6,000, as it would have been if 
 the country had gone on the silver basis hi '96." 
 What erroneous impression might this convey? 
 
 8. Examine the opinion of Locke that an increased 
 supply of gold tends to lower the rate of interest. 
 
 9. What would be the effect on real wages of a great 
 increase in the ability of those who are managing 
 industries of all kinds? 
 
 10. When is a tax on carriages and horses a direct 
 and when an indirect tax? 
 
 Reviews and examinations 
 
 Whenever in the progress of the course a matter 
 arises that requires knowledge of something which 
 has been previously studied, there should be ques- 
 tions to make sure that the pupils possess the 
 necessary background. Whenever any large 
 topic is finished, there should be a lesson upon the 
 entire topic. There should also be a general re- 
 view at the end of the course hi order that the 
 pupil may get a comprehensive view of the entire 
 subject. To a large extent problems should be 
 used in conducting this review. They will tend 
 
 S3
 
 ECONOMICS IN THE 
 
 to bring out sharply the important concepts and 
 principles. They will also be more interesting than 
 a mere repetition of the ground previously cov- 
 ered. In planning the course the teacher should 
 allow at least one tenth of the time to be used at 
 the end for purposes of general review and ex- 
 amination. The final examination should require 
 the pupil to apply the knowledge which he has 
 acquired. Great care should be taken not to have 
 the examinations too long. There should be time 
 enough to allow all who have really mastered 
 the subject to think out their answers carefully. 
 No pupil should be regarded as having done first- 
 class work who cannot write an excellent paper 
 at the end of the course. It is not recommended, 
 however, that failure to pass the final examination 
 should in itself deprive the pupil of the credit for 
 his course. 
 
 The following are examples of the sort of ques- 
 tions which pupils should be able to answer at 
 the close of the course in economics: 
 
 1. Mention a business undertaking that is based 
 upon the creation of (a) time value, (b) place 
 value, (c) form value. Explain in each case how 
 value is created. (New York State Educational 
 Department.) 
 
 2. How is the value of any natural agent meas- 
 
 54
 
 SECONDARY SCHOOL 
 
 ured? (State High School Board of North Da- 
 kota.) 
 
 The various amounts invested on four different 
 grades of land yield returns as follows: 
 
 
 $5 
 
 $IO 
 
 $15 
 
 $20 
 
 Grade A 
 
 40 bu. 
 
 70 bu. 
 
 90 bu. 
 
 ioo bu. 
 
 Grade B 
 
 30 
 
 50 
 
 60 
 
 
 Grade C 
 
 20 
 
 30 
 
 
 
 Grade D 
 
 10 
 
 
 
 
 If the price of the product is $.50 a bushel, what 
 will be the rental value of each grade of land? 
 Explain fully the theory underlying each step in 
 your calculation. (Dartmouth College.) 
 
 4. What is the relation between the market price 
 of a commodity and its cost of production (i) 
 under conditions of competition; (2) under con- 
 ditions of monopoly? (Harvard University, 
 entrance examination.) 
 
 5. State and explain the probable effects of each of 
 four of the following on the cost of living: (a) 
 tendency of population toward cities, (6) increase 
 of schooling, (c) increased production of gold, 
 
 (d) multiplication of banks and credit exchanges, 
 
 (e) use of farm machinery, (/) increase of trans- 
 portation facilities. (New York State Education 
 Department.) 
 
 6. Explain four of the following: bimetallism; 
 sterling exchange; central reserve city; clearing 
 house; depreciated paper money. (Harvard 
 University, entrance examination.) 
 
 7. Show that in most cases improvements hi meth- 
 
 55
 
 ECONOMICS IN THE 
 
 ods of production improve the lot of the laborer 
 and increase employment. Illustrate with some 
 article, as pins or typewriters. (New York State 
 Education Department.) 
 
 8. Define labor union, justify the existence of such 
 an organization and point out two abuses into 
 which it sometimes falls. (New York State 
 Education Department.) 
 
 9. Why is it that capital commands interest when 
 people save for a rainy day without any thought 
 of interest? (High School of Commerce, New 
 York.) 
 
 10. What constitutes just taxation? What taxes are 
 being substituted for general property taxes? 
 (State High School Board of North Dakota.) 
 
 11. Tell what you know of the Sherman anti- trust 
 law and give some account of its operation, 
 noting two cases. (New York State Education 
 Department.) 
 
 12. What effect would socialism, if successful, have 
 on production, distribution, exchange, consump- 
 tion? (State High School Board of North Da- 
 kota.) 
 
 13. .Define natural monopoly. Show the advantages 
 
 and the disadvantages resulting from govern- 
 ment ownership of natural monopolies. (New 
 York State Education Department.) 
 
 14. Define and explain, with some detail: bank re- 
 serves, capital, division of labor, Gresham's Law, 
 Malthus's Law, marginal utility, normal value, 
 price and tax. 
 
 56
 
 SECONDARY SCHOOL 
 
 The notebook 
 
 The pupil should keep a notebook, chiefly for 
 the purpose of recording supplementary material 
 given by the teacher. The amount of material 
 of this kind will naturally be rather limited in a 
 short course. It will consist largely of such facts 
 as are necessary to bring a subject up to date. 
 For example, if a class were studying the chap- 
 ter on monopolies in Bullock's Elements of Eco- 
 nomics, where there is a brief historical sketch 
 of the question hi the United States, it would 
 clearly be the business of the teacher to give the 
 class essential facts in reference to the recent 
 decisions of the United States Supreme Court 
 in the Oil and Tobacco cases. A number of good 
 teachers have the pupils make an outline of the 
 text as they proceed. The notebook would nat- 
 urally contain directions for work given by the 
 teacher; outlines of collateral reading, and other 
 material. The notebook should never be an end 
 in itself. It must always be remembered that it 
 is a means only. 
 
 Essays 
 
 During his course, each pupil should write at 
 least one carefully prepared essay. If this is based 
 
 57
 
 ECONOMICS IN THE 
 
 on reading, there should be a bibliography with 
 accurate citations and a carefully prepared out- 
 line. This essay may be on some economic ques- 
 tion or may be descriptive of some industry 
 personally investigated from the economic stand- 
 point by the pupil. The latter is to be strongly 
 recommended. Ely and Wicker's Elementary 
 Principles of Economics contains an excellent list 
 of subjects. The industries and natural resources 
 of the locality will suggest many subjects to the 
 thoughtful teacher. The pupil himself will often 
 suggest a subject which the teacher will be glad to 
 approve. The following are typical examples of 
 good subjects: (i) Our National Ash Heap; (2) 
 How our City is Fed; (3) Child Labor; (4) Postal 
 Savings Banks. 
 
 The use of newspaper clippings 
 
 The writer of this monograph has made a good 
 deal of use of short newspaper clippings, which are 
 kept in a book separate from the notebook. The 
 clippings must be upon an economic topic. The 
 selection of the articles is in itself an exercise 
 in discriminating between what is economic and 
 what is not. This part of the work is not started 
 until the class has been studying the subject 
 several weeks. The pupil is required to write a 
 
 58
 
 SECONDARY SCHOOL 
 
 brief comment on each clipping. The comment 
 may consist of an explanation of an economic 
 term which appears in the article. For example, 
 the term "preferred stock" furnishes a starting- 
 point for a brief statement about the organiza- 
 tion of a corporation. The comment may consist 
 of the explanation of an economic phenomenon 
 like the price of sterling exchange on a certain 
 day. It may consist of the reasons for approving 
 or disapproving some legislative project of an 
 economic nature. Especially to be encouraged 
 are comments which point out economic fallacies 
 which appear in print. This is hard for a pupil to 
 do, though such fallacies are not infrequent even 
 in the editorial columns of metropolitan journals. 
 
 Other collateral reading 
 
 A large part of the schools report the use of col- 
 lateral reading of some kind. Some schools use 
 several textbooks, having the pupils pursue the 
 topical method of study. To the writer of this 
 study, it seems far better for the pupil to begin 
 by mastering one book, but other texts may prof- 
 itably be used to obtain information which does 
 not happen to be contained in the regular text- 
 book. Much better for collateral study than other 
 books, covering essentially the same ground as 
 
 59
 
 ECONOMICS IN THE 
 
 the text, is illustrative material like bank reports, 
 political platforms, messages of the President, 
 the Governor, and the Mayor (if the pupil lives 
 in a city). The writer has used presidential and 
 gubernatorial messages in some of his classes with 
 much satisfaction. The lesson for a certain day 
 consisted of selecting the economic proposals 
 contained in not too large a part of the message 
 and a free discussion of these proposals. Pupils 
 were held responsible for the principal points 
 brought out in these discussions. Magazine ar- 
 ticles dealing with current economic problems 
 may be assigned to individual pupils for reading 
 and report. Some schools require the review of an 
 entire book of considerable size. Other schools 
 have a report on current economic topics at stated 
 intervals. Outside readings which illustrate or 
 prove economic principles are of particular value. 
 Several books designed for collateral reading for 
 college classes have been prepared. These contain 
 selections from the writings of economists both 
 past and present, accounts of economic occur- 
 rences, selections from the reports of various com- 
 missions and government departments, and 
 extracts from important laws having an eco- 
 nomic bearing. Parts of these can be profitably 
 used by secondary-school pupils. All of these uses 
 60
 
 SECONDARY SCHOOL 
 
 of material outside the text are good if rightly 
 used. The essential thing to be obtained, how- 
 ever, is not the mere reading by the pupil of cer- 
 tain material, but some sort of reaction by him 
 on the material. If, for instance, current topics 
 are used, the pupil reporting should be required 
 to show the significance of what is reported. It 
 is desirable that the school library be well 
 supplied with material for collateral reading. 
 Some of this should be used chiefly by the teacher 
 and the results of his reading interpreted to the 
 pupils. Other parts, which should be carefully 
 selected by the teacher, should be used by the pu- 
 pils. Teachers can gain much help in their teach- 
 ing by becoming familiar with the methods of 
 presentation used in other elementary texts than 
 those in the hands of the class. In another part 
 of this monograph will be found a suggestive list 
 of books, and other material for supplementary 
 uses. The writer is convinced, however, that there 
 is no better kind of supplementary work than 
 such use of short newspaper clippings as has 
 been already described. 
 
 The use of graphs and charts 
 
 A number of schools have pupils make graphs 
 and prepare statistical charts. Where there is 
 61
 
 ECONOMICS IN THE 
 
 time enough, this is an excellent thing to do. 
 Some textbooks, especially Laughlin's Elements 
 of Political Economy, contain charts and graphic 
 illustrations of economic facts and principles 
 which are distinctly helpful. In some cases it is 
 possible by means of a single diagram to make in- 
 telligible at a glance what would otherwise require 
 a more or less elaborate explanation. The teacher 
 may very properly draw figures on the board for 
 pupils to copy in their notebooks. But only those 
 which are really significant and which the pupils are 
 expected to be able to reproduce should be given. 
 
 Debates on economic subjects 
 
 Debates on those questions where there are two 
 fairly balanced sides are excellent. There may be 
 some debates in class, but it is better still if the 
 work in economics can be closely connected with 
 the work of a regularly organized debating soci- 
 ety. The teacher should guide the preparation of 
 the debate and should always point out after 
 the debate any economic fallacies which have 
 appeared in the discussion. 
 
 The bulletin board 
 
 Another device which is largely used is the 
 bulletin board. On this are posted significant 
 62
 
 SECONDARY SCHOOL 
 
 current articles from the newspapers, the price 
 of silver, cotton, and other staples, the quotations 
 for sterling exchange, the current rate of interest, 
 bank clearings, etc. 
 
 Observation of economic institutions 
 
 Visits to institutions of economic interest such 
 as business establishments, stock exchanges, im- 
 migrant stations, etc., are used in several schools. 
 A visit to a public market is an excellent thing 
 when price is being studied. The physical diffi- 
 culty of managing them and their time-consum- 
 ing nature are hindrances to this sort of work. 
 It is well to do as much of it as circumstances 
 permit. Sometimes a whole class will make the 
 visit and sometimes a pupil alone who is inves- 
 tigating a particular topic. In either case, the 
 teacher should point out what to look for. 
 Without guidance investigation of this sort will 
 prove of little value. 
 
 Information obtained from individuals 
 
 Another help which is sometimes used is talks 
 by persons qualified to speak on some economic 
 problem. This is an excellent way to arouse in- 
 terest. Pupils should be encouraged to attend 
 lectures and hear speeches in which economic 
 63
 
 ECONOMICS IN THE 
 
 topics are to be discussed and to have private 
 interviews with capitalists, laborers, labor-union 
 leaders, and public officials. A danger to be 
 guarded against is that such talks will not get 
 at the vital points. Certain fundamentals may be 
 so familiar to the business man that he takes for 
 granted that the pupil knows the very thing he 
 does not know and needs to be told. 
 
 Economics and vocational guidance 
 
 An interesting and excellent combination is 
 reported from Saginaw, Michigan. This is the as- 
 sociation of economics with vocational guidance. 
 In the Boston High School of Commerce the head 
 of the department of economics is director of 
 the employment bureau. A good course in eco- 
 nomics might be of much value to young men and 
 women by assisting in the choice of a vocation. 
 It is very certain that a knowledge of economics 
 is a necessity for the best work in vocational 
 guidance. The increased prominence which voca- 
 tional guidance is rightly obtaining ought to help 
 to a wider knowledge of economics among teach- 
 ers, and to a more extensive study of the subject 
 in secondary schools. 
 
 64
 
 SECONDARY SCHOOL 
 
 The danger of trying to do too much 
 
 It must not be thought, because the writer 
 has enumerated and discussed so many ways of 
 doing work outside the regular routine of text- 
 book recitation, that he is oblivious of the limi- 
 tations of time and strength which must affect 
 both pupil and teacher. The wise teacher will 
 select those methods which seem best adapted to 
 the conditions in which he finds himself, which 
 include the time allotment, the size of the class, 
 the ability and preparation of the pupils, and the 
 other work which the teacher has to do. Where 
 only one semester is allowed to do the work, the 
 teacher must take care that too many things, each 
 good in itself, are not attempted, for there is 
 danger that the main purpose of the course may 
 fail to be attained. 
 
 The sort of textbook needed 
 
 The question of textbooks has been left for con- 
 sideration at the end of this chapter in order that 
 it might be discussed in the light of what has 
 previously been said. The secondary-school text 
 in economics should treat the fundamentals of 
 the subject as already set forth in not over ninety 
 
 65
 
 ECONOMICS IN THE 
 
 thousand words, so that it can be covered in one 
 semester and some time remain for collateral 
 work. Besides the more fundamental parts, the 
 same book might well contain chapters on the 
 leading economic questions of the day for the use 
 of those classes which have time for them. Ma- 
 terial of a less important or more difficult charac- 
 ter than the fundamental parts should be printed 
 in different type and so arranged that it may be 
 omitted by classes whose time is limited. In other 
 words, the book should be so made up that it can 
 be conveniently used for courses of somewhat 
 differing lengths. The language should be simple 
 and clear. Every technical word should be clearly 
 denned. The sections should be numbered and 
 each one should have a well-worded heading 
 printed in heavy type. Definitions, economic 
 laws, and important words and phrases should be 
 printed in italics or otherwise made prominent. 
 The principles set forth should be carefully ex- 
 plained and abundantly illustrated. Numbering 
 and lettering should be freely used to bring out 
 the relation of one part of the text to another. 
 This is a decided help to the pupil toward grasp- 
 ing the subject. At the end of each chapter there 
 should be a good set of questions and economic 
 problems such as have been described. All these 
 66
 
 SECONDARY SCHOOL 
 
 excellences have appeared in different texts, but 
 have been only partly combined in any one book. 
 
 Some of the books which are in use 
 
 Several textbooks of considerable merit have 
 been written on elementary economics, but we will 
 simply notice briefly the five books which now 
 practically occupy the field. The replies to the 
 writer's questionnaire indicate that the following 
 books were the only ones which were used to 
 any considerable extent: Ely and Wicker's 
 Elementary Principles of Economics, Bullock's 
 Elements of Economics, Bullock's Introduction to 
 the Study of Economics, and Laughlin's Ele- 
 ments of Political Economy. The last, which is the 
 oldest of the above-mentioned texts, and is some- 
 what old-fashioned, is now the least used. It has 
 exercises at the end of each chapter, many of which 
 are excellent. The book is somewhat too volumi- 
 nous for a half-year course in the subject, but is 
 so arranged that Part I makes a complete course 
 by itself . Professor Bullock is an excellent econo- 
 mist and the general soundness of his presentation 
 of the subject doubtless accounts for the wide use 
 of his two books. The Elements is not, however, 
 well arranged for teaching purposes, and the au- 
 thor has not succeeded very well in making its 
 67
 
 ECONOMICS IN THE 
 
 language suitable to the secondary-school pupil. 
 Some of the descriptive and historical material 
 could be abbreviated without serious loss. The 
 Introduction is an excellent college book, but was 
 never intended for the secondary school. Burch 
 and Nearing's Elements of Economics is a new 
 book issued in 1912. It has already met with a 
 good deal of favor. Dr. Burch, one of the authors, 
 is a secondary-school teacher in Philadelphia. The 
 book is of reasonable compass, and its language 
 is usually clear. It seems to the writer to have too 
 much purely descriptive material and to omit 
 some topics which ought to be treated [even in 
 an elementary book. It also appears not to rep- 
 resent so well as Bullock's Elements, and Ely 
 and Wicker, the general consensus of economic 
 thought. The Ely and Wicker has many ex- 
 cellent features. It is of reasonable compass, 
 impartial, logically arranged, and on the whole 
 easily understood. Its make-up is such as to 
 assist the pupil in studying it. Important words, 
 phrases, and sentences are italicized. It has a 
 summary and questions at the end of each 
 chapter. Some of the material is printed in 
 smaller type than the rest to indicate its lesser 
 importance. The chapters on economic history 
 add little to the real value of the book, but 
 68
 
 SECONDARY SCHOOL 
 
 they may easily be omitted in a short course. 
 The secondary-school teacher of economics ought 
 to possess a copy of each of the above-mentioned 
 books. They all contain valuable suggestions for 
 him. It would certainly be desirable also that 
 several copies of each should be available for the 
 use of pupils. 
 
 Our conclusion with reference to textbooks 
 
 In chapter in reference was made to the objec- 
 tion that there are not suitable textbooks in 
 economics for the secondary school. No one of the 
 books which we have just discussed seems to the 
 writer exactly ideal, but each has its peculiar 
 excellences and good work is being done with 
 every one of them. There are innumerable books 
 in constant use on other subjects which are cer- 
 tainly no better adapted to their purpose. When 
 due allowance for faults has been made, we still 
 conclude that the objection to the study of eco- 
 nomics in the secondary school based on the want 
 of suitable textbooks is untenable. 
 
 A textbook for the inductive method 
 
 It seems proper before leaving he subject of 
 textbooks to speak of Professor H. W. Thurston's 
 Economics and Industrial History for Secondary 
 69
 
 ECONOMICS IN THE 
 
 Schools, which differs widely in its plan from other 
 texts. It is intended as a guide to the inductive 
 study of the subject. The pupil begins by making 
 a list of all the occupations by which people of 
 his acquaintance make a living. Next he divides 
 these occupations into classes. In the textbook 
 similar work continues through twenty lessons, 
 having twenty-nine pages of questions and direc- 
 tions as a guide; then follow one hundred and 
 forty-four pages of economic history; and last 
 of all, eighty-seven pages given to an elementary 
 discussion of the fundamental economic princi- 
 ples. Even in the last part, the treatment of the 
 subject is very largely by questions, to which the 
 pupils are to find the answers. This book ap- 
 pears to exaggerate a good feature of economic 
 teaching, namely, observation of economic phe- 
 nomena. This should be used to a considerable 
 extent, to as large an extent as time permits, 
 but the pupil cannot "make his own economics" 
 any more than he could make his own physics. 
 Moreover, it must be remembered that experi- 
 ment by the pupil is impossible in economics. It 
 is true that there is a kind of experimentation in 
 economics furnished by history and by legislation, 
 and that economic hypotheses like other scien- 
 tific hypotheses must be verified, but the pupil 
 70
 
 cannot do this in the laboratory even to the 
 limited extent to which he can do it in the phys- 
 ical sciences. The verification of economic laws 
 usually requires very wide observation both as 
 to time and as to space. Some of the simplest 
 economic principles, which are now regarded as 
 axiomatic, were not understood by such a great 
 man as Turgot, though he was a diligent student 
 of economic science. In economics the principles 
 are often simple, while the facts are very com- 
 plicated; for example, Gresham's Law and the 
 fact that international trade is essentially the 
 exchange of commodities. Then, there is danger 
 of wasting time on the "investigation" of things 
 the pupils already know. The aggregate experi- 
 ence of a class will be found to be large and it can 
 constantly be drawn upon as needed. However, 
 Professor Thurston's book contains much that 
 can be profitably used by a teacher of economics. 
 Many of its questions are very good.
 
 VI 
 
 THE CONTENT OF THE COURSE IN ECONOMICS 
 
 A suggestive outline 
 
 THE outline which is here given is for a course 
 in economics for five periods per week for one 
 semester. It is believed that well prepared fourth- 
 year pupils can cover it all and that there will 
 still remain some time for the introduction of work 
 of the teacher's own selection and for a proper 
 final review and examination. Doutbless many 
 teachers will find that there are omissions of 
 things they would deem more important than 
 some things which are included. The outline is 
 intended to be suggestive to the teacher who has 
 to plan a course. Such a teacher will naturally 
 modify it somewhat to suit his own views and to 
 meet his own problems. 
 
 OUTLINE 
 
 PART I 
 I. INTRODUCTION. 
 
 Economics defined: its nature as a social study 
 simply explained; its content briefly indicated; the 
 nature of economic laws elucidated. 
 
 72
 
 ECONOMICS IN THE SCHOOL 
 
 II. CONSUMPTION. 
 
 A. Human wants: the diversification of wants: the 
 creation of new wants and its relation to busi- 
 ness. 
 
 B. Utility and goods: definitions of utility and kinds 
 of utility; goods defined; things which are legal 
 property but not economic goods, e.g., a cer- 
 tificate of stock in a corporation; the law of di- 
 minishing utility; marginal utility; relation of 
 marginal utility to cost. 
 
 C. Demand: definition; the laws of demand; the 
 function of advertising; Engel's Law. 
 
 D. Wise and unwise consumption; final and pro- 
 ductive consumption of goods; harmonious ex- 
 penditure of resources; saving; luxurious expen- 
 diture; injurious expenditure; consideration of 
 family budgets; cooperative consumption. 
 
 EH. PRODUCTION. 
 
 A. Definition, explanation and illustration; the four 
 factors of production, nature, labor, capital and 
 management. 
 
 B. Nature: the word land as an economic term; the 
 law of diminishing returns; causes which set 
 back the point of diminishing returns, such as 
 improved machines, methods and varieties of 
 animals and plants; the filling up of our terri- 
 tory as an element in the increased cost of 
 living. 
 
 C. Labor: definition, explanation, and illustration; 
 conditions on which efficiency depends; the re- 
 lation of scientific management to the efficiency 
 of labor ; relation of population to land ; the Mal- 
 thusian theory and present conditions; immigra- 
 tion; division of occupations with illustrations; 
 
 73
 
 ECONOMICS IN THE 
 
 division of labor, with illustrations; advantages 
 and disadvantages of the division of labor. 
 
 D. Capital: definition and illustration by concrete 
 forms; distinction between capital and non-capi- 
 tal goods; distinction between capital and per- 
 sonal qualities; circulating and fixed capital with 
 concrete illustrations; the creation of capital; 
 free and specialized capital, with concrete illus- 
 trations; how capital funds are converted into 
 capital goods; necessity for constant replace- 
 ment; advantages and disadvantages of large 
 and small scale production respectively; the point 
 beyond which large scale production ceases to 
 have superior advantages. 
 
 E. Business management: 
 
 1. The nature of the entrepreneur function ex- 
 plained and illustrated. 
 
 2. Forms of business management: 
 
 a. The single entrepreneur, who takes the 
 personal responsibility and risk of coSrdi- 
 nating the three other factors. 
 
 b. The partnership where the entrepreneur 
 function is shared; its advantages and 
 disadvantages. 
 
 c. The corporation, where the entrepreneur 
 function is diffused and delegated; capital 
 stock, common and preferred stock; wa- 
 tered stock and overcapitalization; real 
 nature of corporation bonds as representing 
 part of the capital invested; proper pro- 
 portion between stock and bonds; hold- 
 ing companies. 
 
 d. Cooperative business where the laborers 
 are partners or stockholders. 
 
 74
 
 SECONDARY SCHOOL 
 
 e. Government industry, where the whole 
 people are, as it were, stockholders in a 
 corporation; kinds of business commonly 
 so conducted in our own and other coun- 
 tries. 
 
 3. The great importance to society of good busi- 
 ness management. 
 IV. EXCHANGE. 
 
 A. Definition, explanation, and illustration; the 
 advantages of exchange. 
 
 B. Value: definition and illustrations of value; 
 demand and supply; the law of value under con- 
 ditions of free and fair competition; market 
 value; normal value and the law of normal value; 
 influences modifying the working of the law, like 
 large fixed capitals and by-products; different 
 costs of different portions of the supply; impor- 
 tance of marginal cost; the law of monopoly 
 value; natural and legal limitations on the power 
 of monopolies to fix prices. 
 
 C. Money: 
 
 1. Definition of money; the functions of money; 
 qualities desirable in the money material; 
 coinage, seignorage, and legal tender. 
 
 2. The value of money: how measured; cost of 
 production and value of money; the effect of 
 credit on the value of money (with such ex- 
 planation of the different forms of credit as 
 is necessary) ; rapidity of circulation and the 
 value of money; the law of value as applied 
 to money; Gresham's Law; the evils of a fall- 
 ing and of a rising value of money, contrac- 
 tions and inflation; proposed remedies for 
 these evils; the recent fall in the value of 
 
 75
 
 ECONOMICS IN THE 
 
 money, its cause and how far it explains the 
 increased cost of living. 
 
 3. Paper money: the fiat theory; advantages of 
 paper money; paper money and Gresham's 
 Law; the great dangers of paper money; 
 historical examples. 
 
 4. Bimetallism: the bimetallic theory; inter- 
 national bimetallism; the Latin Union; 
 international conferences; the demonetiza- 
 tion of silver by the leading nations; the sil- 
 ver question in the United States. 
 
 5. The existing monetary laws of the United 
 States; the good and bad hi them. 
 
 6. The advantages and practicability of an in- 
 ternational monetary unit. 
 
 D. Banks and banking: 
 
 1. Banking institutions as the instrumentalities 
 of credit; deposits; discounts; reserves; the 
 clearing-house. 
 
 2. Bank-notes; the profit in their issue; their 
 value in giving elasticity to the currency un- 
 der proper legislation such as, for instance, 
 the Canadian banking law. 
 
 3. The national banks and the laws of the 
 United States on banking; excellences and 
 defects of our system. 
 
 4. Banking institutions which operate under 
 state laws. 
 
 5. The banking laws of the pupil's own State; 
 their excellences and defects. 
 
 E. International trade: 
 
 1. Advantages the same as of domestic trade; 
 governed by the same principles. 
 
 2. The nature of international trade: proof that 
 
 7 6
 
 SECONDARY SCHOOL 
 
 it is barter; the automatic movement of 
 money; how much money a country needs; 
 bills of exchange and the rate of exchange; 
 the balance of trade and the fallacy in the 
 expressions "favorable" and "unfavorable" 
 balance; the invisible elements in the inter- 
 national trade balance. 
 
 3. Restrictions on international trade: export 
 and import duties; the wisdom or unwisdom 
 of forbidding the former, as the United States 
 Constitution does; import or customs duties; 
 specific and ad valorem duties; tariff for rev- 
 enue and tariff for protection; the general 
 effect of a protective tariff to divert capital 
 and labor from other industries into indus- 
 tries favored by law; industries which cannot 
 be protected; the burden of protection; the 
 tariff and the general rate of wages; protec- 
 tion and monopoly; how tariff laws are 
 actually framed; economic and political ar- 
 guments for a protective tariff; the present 
 tariff law of the United States with brief 
 review of recent tariff history. 
 V. DISTRIBUTION. 
 
 A. Definition and illustration: annual product and 
 annual income limited by natural resources, 
 labor power and capital; bearing of this fact 
 on "living wage"; real and money incomes; 
 the four kinds of income. 
 
 B. Rent: meaning of term as used by economists; 
 distinction between rent and interest; differences 
 in land hi regard to quality and location; the gen- 
 eral law of rent; application to agricultural 
 mining, forest, and urban land; relation of rent 
 
 77
 
 ECONOMICS IN THE 
 
 to the value of the land; relation of rent to the 
 value of the product; rent and the law of dimin- 
 ishing returns; the unearned increment and rent 
 as an unearned income. 
 C. Wages and the labor question. 
 
 1. Definition of wages; distinction between 
 wages and profits. 
 
 2. The law of supply and demand as deter- 
 mining wages; the peculiarities of labor as 
 a commodity; the supply of labor and the 
 standard of living; wages and the productiv- 
 ity of labor; the efficiency of the worker as 
 tested by the unit cost; time wages and piece 
 wages; high wages and low labor cost; the im- 
 portance of capital to keep up the demand for 
 labor; money wages and real wages; the wages 
 of particular classes of laborers; why the wages 
 of women are less than those of men; the 
 proper period of labor and the question of the 
 eight-hour day; the employments which offer 
 to young people the best chances of good 
 wages in the long run. 
 
 3. Labor organizations: need for and advan- 
 tages of collective bargaining; the two types 
 of organization as typified by the American 
 Federation of Labor and Industrial Workers 
 of the World; syndicalism; strikes, lockouts 
 and boycotts; arbitration and conciliation; 
 the amended Erdman Act; the Canadian 
 Disputes Act; compulsory arbitration; the 
 good and bad features in the policy of labor 
 organizations. 
 
 4. The laborer and his product: cooperation, 
 its advantages and the reasons for its limited 
 
 78
 
 SECONDARY SCHOOL 
 
 success; profit-sharing; the sliding scale of 
 wages. 
 
 5. Labor legislation; the regulation of conditions 
 and hours of labor; of the labor of women and 
 children; compulsory insurance of employees; 
 old-age pensions. 
 
 6. The relation of the activities of labor organi- 
 zations and of labor legislation to the high 
 cost of living. 
 
 7. The labor legislation of the pupil's own 
 State. 
 
 8. Ways of raising the general rate of wages: 
 education, general and technical; higher 
 moral standards; restriction of immigration; 
 increase of labor saving machinery; scientific 
 management. 
 
 D. Interest: 
 
 1. Definition of interest; not to be thought of 
 as a payment for money. 
 
 2. Reasons why interest is paid: 
 
 a. Productivity of capital. 
 
 b. Sacrifices of saving. 
 
 c. Greater subjective value of present than 
 of future goods. 
 
 E. Profits: 
 
 i. Definition of profits; pure profit distinguished 
 from gross profit; distinguished from monop- 
 oly gains; the no profit employer and why he 
 stays in business; the analogy between profit 
 and the rent of land; profit not an unearned 
 income; the effect of an increase in ability 
 of managers of industry on profits, wages 
 and prices. 
 
 79
 
 ECONOMICS IN THE 
 
 VI. PUBLIC FINANCE. 
 A. Sources of revenue. 
 i. Taxation. 
 
 a. Definition; theories as to justice in taxa- 
 tion; measures of ability or "faculty"; 
 taxes as proportional, progressive and 
 regressive, with examples. 
 
 b. Customs duties; incidence of these taxes; 
 advantages and disadvantages purely as 
 a form of taxation (see p. 77 for protec- 
 tive tariffs). 
 
 c. Excises: definition; incidence; advantages 
 and disadvantages. 
 
 d. Income tax: theoretical arguments for 
 it; its practical working where it has had 
 a fair trial; the Sixteenth Amendment to 
 the Federal Constitution and our new 
 income tax. 
 
 e. General property tax: incidence when 
 applied to various kinds of property; 
 methods of assessment; unfair valuations; 
 boards of equalization; the working of the 
 tax when applied to so called intangible 
 property; double taxation. 
 
 /. Taxes on the unearned increment (see 
 
 P- 84). 
 
 g. Corporation taxes: incidence; advantages. 
 h. Inheritance taxes: kinds; incidence. 
 i. Franchise taxes: incidenge. 
 j. Licenses: incidence; disadvantages when 
 
 used simply as revenue measure. 
 k. The proper distribution of the various 
 
 forms of taxation among the Nation, 
 
 States, and local units of government. 
 
 80
 
 SECONDARY SCHOOL 
 
 /. The tax laws of the pupil's own State; 
 the good and the bad in the system. 
 
 2. Borrowing: when justified; dangerous growth 
 of public debts; the advisability of the speedy 
 payment of public debts. 
 
 3. Various other sources of revenue, very 
 briefly treated. 
 
 B. Public Expenditure: 
 
 1. Great advantages which spring from wise 
 public expenditure. 
 
 2. The waste of public money; the unwisdom 
 of it; its causes and possible remedies. 
 
 3. Great increase in public expenditures; rea- 
 sons and how far justified. 
 
 PART II 
 
 I. THE CONSERVATION OF NATURAL RESOURCES. 
 
 A. Brief consideration of natural resources of 
 United States; how these resources have been 
 wasted; the squandering of the national do- 
 main; the vast importance of conservation, or 
 making the use which will be wisest in the long 
 run. 
 
 B. Conservation of resources in private hands: 
 diffusion of knowledge of necessity for and 
 methods of soil preservation, irrigation, drain- 
 age, etc.; national and state laws to encourage 
 private owners to preserve forests, etc.; taking 
 private lands for public reservations. 
 
 C. Conservation of public domain: 
 
 i. Extent and value of what remains; folly of 
 virtually giving away any part of it; neces- 
 sity of using it for good of all. 
 
 81
 
 ECONOMICS IN THE 
 
 2. Agricultural land should be either sold for 
 full value or leased for long terms. 
 
 3. Forests: great economic importance of for- 
 ests; necessity of keeping them as public 
 reservations. 
 
 4. Mining-land: title never to be alienated; 
 either leased for fair rental under conditions 
 to prevent waste or worked by the United 
 States Government itself. 
 
 5. Water-power: vast importance for the future; 
 the extent of national jurisdiction as de- 
 fined by the Supreme Court; national power 
 to be exercised to fullest extent; rights to use 
 water power should be granted only for lim- 
 ited periods, for adequate rental and under 
 conditions which will insure greatest useful- 
 ness for all. 
 
 6. The conservation of life and health: great 
 economic importance; means for accomplish- 
 ing it. 
 
 II. THE PROBLEM OF MONOPOLIES. 
 
 A. Monopoly defined and monopolies classified. 
 
 B. Legal monopolies. 
 
 C. Natural monopolies: definition, explanation, 
 and illustration; the folly of attempting to main- 
 tain competition in these industries; the piracy 
 of franchises; the alternatives of strict govern- 
 mental regulation or public ownership and 
 operation; arguments for and against each 
 policy. 
 
 D. The trusts; term defined; different forms of 
 capitalistic monopoly; growth of trusts in the 
 United States; state incorporation of monopo- 
 lies; possession of the advantages which go with 
 
 82
 
 SECONDARY SCHOOL 
 
 production on a large scale (see p. 74) ; overcap- 
 italization; relation of special privileges to capi- 
 talistic monopolies; relation of the tariff to 
 trusts; trust prices and how far the increased 
 cost of living is due to trusts; dangerous polit- 
 ical power of trusts; remedies for the evils of 
 trusts, suggested or tried; advisability of federal 
 incorporation of great corporations; the Sher- 
 man Anti-Trust Act; the Northern Security, 
 Standard Oil and Tobacco cases. 
 
 III. THE RAILWAY PROBLEM IN THE UNITED STATES. 
 A phase of the general problem of natural monopo- 
 lies; the methods, reasons for, advantages of and 
 evils of railway consolidation; the prime importance 
 of freight rates; the problem of fixing rates; the evils 
 of discriminations among localities, shippers and 
 classes of goods; attempts at regulation by States; 
 two types of state commissions; railway regulation 
 by the pupil's own State; utter inadequacy of state 
 regulation; the original Interstate Commerce Act; 
 its comparative failure through judicial interpreta- 
 tion; the laws governing interstate commerce as 
 they now are; recent judicial decisions; recent ac- 
 tivities of the Interstate Commerce Commission; 
 express companies and express rates; the advisa- 
 bility of permitting pooling under national super- 
 vision; the question of national ownership of the 
 railways. 
 
 IV. SOCIALISM. 
 
 A. Definition of socialism; its four elements; dis- 
 tinction between socialism and communism and 
 anarchy; basis in dissatisfaction with present 
 distributive process; socialist criticism of this 
 process; the socialist conception of value. 
 
 83
 
 ECONOMICS IN THE 
 
 B. The advantages which socialists anticipate from 
 the adoption of their program. 
 
 C. The weaknesses of socialism. 
 
 D. Possible improvements in the present distribu- 
 tive process without abandoning its essential 
 features. 
 
 V. THE SINGLE TAX. 
 
 Defined and explained; Henry George's proposals 
 and claims; rent not the only unearned income; 
 on whom the burden ought to fall if the single tax 
 is adopted; difficulties of applying it in agricultural 
 communities; other objections; the taxation of the 
 unearned increment in England and German cities; 
 the advisability of taxing the unearned increment. 
 
 Additional work 
 
 In making the foregoing outline it has been 
 assumed that the pupil will write an original 
 essay and do some of the kinds of work mentioned 
 in chapter v in addition to covering the topics. 
 Where there is sufficient time the outline may 
 easily be expanded by giving some of the topics 
 in a good deal of detail or by introducing other 
 topics in the proper connection. If the course 
 is completed before the tune is all used, other 
 topics may be taken up at that tune. Such books 
 as the general treatises of Hadley, Seligman, and 
 Taussig will furnish a great deal of material 
 which the teacher may profitably use. The fol-
 
 SECONDARY SCHOOL 
 
 lowing short list of topics, from which selections 
 might be made, is given simply by way of sug- 
 gestion: advertising, commercial crises, income 
 and expenditures of the National Government, 
 the merchant marine and the proposal for sub- 
 sidies, the economic function of the middleman, 
 postal savings banks, good roads, reciprocity, 
 speculation, water transportation. The course 
 may properly be extended by the detailed con- 
 sideration of some subjects from the historical 
 point of view as, for example, the monetary or 
 tariff history of the United States. Concrete 
 studies, like the study of the resources of the state 
 or region where the pupils live, will employ the 
 time to good advantage and give the pupils an 
 opportunity to apply what they have learned 
 earlier in the course.
 
 VII 
 
 BIBLIOGRAPHIES 
 
 Elementary books 
 
 THE following list contains the names of some 
 useful elementary books on economics. They 
 are valuable both for use by pupils and for the 
 suggestions to be obtained from them by the 
 secondary-school teacher of economics. 
 
 Blackmar, F. W.: Economics for High Schools, pp. 
 434, Macmillan $1.20 
 
 Bullock, C. J.: Elements of Economics, pp. 378, 
 Silver i.oo 
 
 Burch, F. R. and Nearing, S.: Elements of Eco- 
 nomics, pp. 388, Macmillan i.oo 
 
 Davenport, H. J.: Outlines of Elementary Econom- 
 ics, pp. 280, Macmillan 80 
 
 Ely, R. T., and Wicker, G. R.: Elementary Prin- 
 ciples of Economics, pp. 388, Macmillan . . . i.oo 
 
 Macvane, S. M.: Working Principles of Political 
 Economy, pp. 392, Merrill 1.05 
 
 Laughlin, J. L.: Elements of Political Economy, pp. 
 386, American Book Co 1.20 
 
 Thurston, H. W.: Economics and Industrial His- 
 tory for Secondary School, pp. 300, Scott. . . i.oo 
 
 86
 
 ECONOMICS IN THE SCHOOL 
 
 Some useful books of a more advanced character 
 
 The following list of books of a more advanced 
 character should be familiar to the teacher and 
 many parts of them can be advantageously used 
 by pupils : 
 
 Adams, T. S. and Sumner, H. L.: Labor Problems, 
 PP- 579) Macmillan $1.60 
 
 American Academy (Annals, July, 1913), Cost of 
 Living, pp. 301, Am. Acad., paper, $1.00, cloth 1.50 
 
 Brooks, J. G.: American Syndicalism, pp. 264, 
 Macmillan 1.50 
 
 Bullock, C. J.: Introduction to the Study of Eco- 
 nomics, pp. 581, Silver 1.28 
 
 Carver, T. N.: Distribution of Wealth, pp. 290, 
 Macmillan 1.50 
 
 Clark, J. B.: Essentials of Economic Theory, pp. 
 566, Macmillan 2.00 
 
 Clark, J. B.: Social Justice without Socialism, 
 pp. 49, Houghton 50 
 
 Commons, J. R. : Trade-Unionism and Labor Prob- 
 lems, pp. 678, Ginn 2.00 
 
 Davenport, H. J.: Outlines of Economic Theory, 
 pp. 381, Macmillan 2.00 
 
 Ely, R. T.: Outlines of Economics, pp. 700, Mac- 
 millan 2.00 
 
 Fetter, R. A.: Principles of Economics, pp. 610, 
 
 Century Co 2.00 
 
 Fisher, I. : Elementary Principles of Economics, pp. 
 521, Macmillan 2.00 
 
 Gide, C.: Principles of Political Economy, pp. 592, 
 Heath 2.00 
 
 87
 
 ECONOMICS IN THE 
 
 Hadley, A. T.: Economics, pp. 496, Putnam . . $2.50 
 
 Jenks, J. W.: The Trust Problem, pp. 361, Double- 
 day i.oo 
 
 Johnson, A. S. : Introduction to Economics, pp. 404, 
 Heath . 1.50 
 
 Johnson, E. R.: American Railway Transporta- 
 tion, pp. 434, Appleton 1.50 
 
 Plehn, C. C.: Public Finance, pp. 480, Macmillan 1.75 
 
 Seager, H. R.: Introduction to Economics, pp. 565, 
 Holt 2.25 
 
 Seager, H. R.: Social Insurance, pp. 175, Macmil- 
 lan i.oo 
 
 Seligman, E. R. A.: Principles of Economics, pp. 
 710, Longmans 2.50 
 
 Skelton, O. D.: Socialism, pp. 329, Houghton . . 1.50 
 
 Smart, W. : Introduction to the Theory of Value, 
 pp. 88, Macmillan 60 
 
 Spargo, J. : Elements of Socialism, pp. 257, Macmil- 
 lan 1.50 
 
 Taussig, F. W.: Principles of Economics, 1 vol. I, 
 PP- 5475 vol. n, pp. 573, Macmillan .... 4.00 
 
 Taussig, F. W. : Tariff History of the United States, 
 pp. 422, Putnam 1.50 
 
 Taylor, F. W. : Principles of Scientific Management, 
 pp. 144, Harpers 1.50 
 
 Van Hise, C. R.: Conservation of Natural Re- 
 sources, pp. 413, Macmillan 2.00 
 
 Warne, F. J.: The Immigrant Invasion, pp. 336, 
 Dodd 2.50 
 
 1 This is the best general work on the subject and should be in the hands 
 of all secondary -school teachers of economics.
 
 SECONDARY SCHOOL 
 
 Supplementary reference material 
 
 The following are some of the more useful ma- 
 terials for supplementary use: 
 
 The American Year-Book, annual, pp. about 900, 
 Appleton $3.00 
 
 Bullock, C. J.: Selected Readings in Economics, 
 pp. 705, Ginn 2.25 
 
 Chicago, University of: Outlines of Economics de- 
 veloped in a Series of Problems, pp. 160, Univer- 
 sity of Chicago Press i.oo 
 
 Chicago, University of: Materials for the Study of 
 Elementary Economics, pp. 040, University of 
 Chicago Prefes 2.75 
 
 Commissioner of Corporations, Regular and Special 
 Reports. 
 
 Commissioner of Immigration, Reports. 
 
 Fetter, R. A.: Source Book hi Economics, pp. 385, 
 Century Co 1.30 
 
 Interstate Commerce Commission, Reports. 
 
 Statesman's Year-Book, annual, pp. about 1450, 
 Macmillan 3.00 
 
 United States, Department of Commerce, Reports. 
 
 United States, Department of Labor, Bulletins. 
 
 United States, Department of Labor, Reports. 
 
 United States, Statistical Abstract. 
 
 United States, Treasury Department, Circulation 
 Statement (monthly). 
 
 United States, Treasury Department, Reports. 
 
 World Almanac, pp. about 800, Press Pub. Co. . .25 
 
 89
 
 ECONOMICS IN THE SCHOOL 
 
 A few books and articles helpful to the secondary- 
 school teacher of economics 
 
 Bullock, C. J.: Political Economy in the Secondary 
 School, Education, n: 539. 
 
 Clow, F. R.: Economics as a School Study, American 
 Economic Association, Economic Studies, vol. m, no. i. 
 
 Daggett, S.: Method and Scope of High School Econom- 
 ics, History Teacher's Magazine, 3: 172. 
 
 Ely, R. T.: Economics in Secondary Education, Educa- 
 tional Review, 20: 152. 
 
 Ely, R. T.: Methods of Teaching Political Economy; in 
 G. Stanley Hall's Methods of Teaching History, pp. 385, 
 Heath, $1.20. 
 
 Gunton, G.: Economics in the Public Schools, Proceed- 
 ings of National Education Association, 1901: 131. 
 
 Manchester, A. L.: The High-School Course in Econom- 
 ics, Journal of Political Economy, 19: 750. 
 
 New York, State of; Syllabus for Secondary Schools 
 (1910). 
 
 Spiers, F. W. : Ideals and Methods of Economic Teaching, 
 Proceedings of National Education Association, 1901: 
 
 137- 
 
 Taussig, F. W.: The Problem of Secondary Education 
 as regards Training for Citizenship, Educational Re- 
 view, 17: 431. 
 
 Taylor, F. M.: Methods of Teaching Elementary Eco- 
 nomics in the University of Michigan, Journal of 
 Political Economy. 17: 688. 
 
 Wolfe, A. B.: Aim and Content of a College Course in 
 Elementary Economics, Journal of Political Econ- 
 omy, 17: 673- 
 
 90
 
 OUTLINE 
 
 I. THE NEED OF ECONOMIC KNOWLEDGE 
 
 1. What the science of economics is I 
 
 2. The value of economics for intelligent citizen- 
 ship in the twentieth century 2 
 
 3. The ethical value of economics 7 
 
 4. The vocational value of economics 9 
 
 5. The cultural value of economics 10 
 
 II. THE SUITABILITY OF ECONOMICS AS A 
 SECONDARY SCHOOL SUBJECT 
 
 1. The secondary school furnishes the last chance 
 to teach the subject to any considerable number 
 
 of young people n 
 
 2. The opinions of educational authorities . . . 1 1 
 
 3. The practice of leading schools 13 
 
 4. The evidence of those who are teaching the sub- 
 ject 14 
 
 5. The evidence of examination results . . . . 16 
 
 6. Economics as a college entrance subject ... 17 
 
 7. What our evidence proves 18 
 
 8. Why not sociology instead of economics in the 
 secondary schools? 18 
 
 III. THE PRESENT STATUS OF ECONOMICS IN 
 THE SECONDARY SCHOOL 
 
 1. The extent to which it is now taught .... 20 
 
 2. The study of economics in the secondary schools 
 
 is increasing 21 
 
 3. The belief that proper teachers cannot be had 23 
 
 91
 
 OUTLINE 
 
 4. The objection that economics deals with contro- 
 verted questions 24 
 
 5. The too scientific treatment of the subject . . 25 
 
 6. The objection that proper textbooks do not exist 26 
 
 7. The objection that the curriculum is already 
 overcrowded 26 
 
 8. The proposed teaching of economics through 
 some other subject or subjects 29 
 
 IV. THE PLACE OF ECONOMICS IN THE 
 CURRICULUM AND ITS RELATION TO 
 OTHER SUBJECTS 
 
 1. Economics belongs among the "social studies" 
 with history and civics 33 
 
 2. Economics, with civics, should be a required sub- 
 ject _ ... 34 
 
 3. Girls should not be excused from studying eco- 
 nomics 36 
 
 4. Economics should be studied in the last year of 
 the course 37 
 
 5. The minimum length of the course 38 
 
 6. The relation of economics to civics 38 
 
 7. The relation of economics to history .... 39 
 
 8. The relation of economics to subjects other than 
 those already discussed 42 
 
 9. Economics and closely related subjects in the 
 commercial course 43 
 
 10. The proper content of a secondary school course 
 in economics 45 
 
 V. METHODS OF TEACHING ECONOMICS 
 
 1. The work should be based upon a good textbook 47 
 
 2. The recitation in economics 48 
 
 92
 
 OUTLINE 
 
 3. How to fix concepts and principles in the mind . 50 
 
 4. Reviews and examinations 53 
 
 5. The notebook 57 
 
 6. Essays 57 
 
 7. The use of newspaper clippings 58 
 
 8. Other collateral reading 59 
 
 9. The use of graphs and charts 61 
 
 10. Debates on economic subjects 62 
 
 11. The bulletin board 62 
 
 12. Observation of economic institutions .... 63 
 
 13. Information obtained from individuals ... 63 
 
 14. Economics and vocational guidance .... 64 
 
 15. The danger of trying to do too much .... 65 
 
 16. The sort of textbook needed 65 
 
 17. Some of the books which are in use .... 67 
 
 18. Our conclusion with reference to textbooks . . 69 
 
 19. A textbook for the inductive method .... 69 
 
 VI. THE CONTENT OF THE COURSE IN 
 ECONOMICS 
 
 1. A suggestive outline 72 
 
 2. Additional work 84 
 
 VII. BIBLIOGRAPHIES 
 
 1. Elementary books 86 
 
 2. Some useful books of a more advanced character 87 
 
 3. Supplementary reference material 89 
 
 4. A few books and articles helpful to the secondary- 
 school teacher of economics 90
 
 RIVERSIDE EDUCATIONAL 
 MONOGRAPHS 
 
 GENERA L EDUCA 770AM L THEOR Y 
 
 DEWKY'S MORAL PRINCIPLES IN EDUCATION 3D 
 
 ELIOT'S EDUCATION FOR EFFICIENCY 35 
 
 ELIOT'S TENDENCY TO TEE CONCRETE AND PRACTICAL IN MOD- 
 ERN EDUCATION 35 
 
 EMERSON '3 EDUCATION 3D 
 
 FiSKK'3 THE MEANING OF INFANCY 35 
 
 HYDE'S THE TEACHER'S PHILOSOPHY 35 
 
 PALMER'S THE IDEAL TEACHER 30 
 
 PROSSER'S THE TEACHER AND OLD AGE 60 
 
 TERMAN'S THE TEACHER'S HEALTH 60 
 
 THOBNDIKE'S INDIVIDUALITY 35 
 
 ADMINISTRATION AND SUPERVISION OF SCHOOLS 
 
 BETTS'S NEW IDEALS IN RURAL SCHOOLS 60 
 
 BLOOMFIELD'S VOCATIONAL GUIDANCE OF YOUTH 60 
 
 CABOT'S VOLUNTEER HELP TO THE SCHOOLS 60 
 
 COLE'S INDUSTRIAL EDUCATION IN ELEMENTARY SCHOOLS 36 
 
 CUBBERLEY'S CHANGING CONCEPTIONS OF EDUCATION 35 
 
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