-- tion in the Southern States-T. M. Logan. VIII. The Navigation Laws of Great Britain and the United States - Hamilton A. Hill. IX. The Tariff Question - Horace White. X. Custom House Forms-Henry D. Hyde. XI. State and Municipal Government Samuel Bowles. XII. Municipal Economy- Daniel L. Harris. CONTENTS OF NUMBER TEN.-Transactions of the Association, 1879. I. American Education, 1869-79. Annual Address of President Gilman. II. The Method of Study in Social Science William T. Harris. III. Report of the Department of Education -Mrs. I. T. Talbot. IV. The Voting of Women in School Elections-A. P. Peabody. V. Relations of Christianity to the Common Law-M. B. Anderson. VI. The Place of the Practical Man in American Public Affairs Hamilton Andrews Hill. VII. Chinese Immigration S. Wells Williams. VIII. The United States and the Declaration of Paris-Theodore S. Woolsey. IX. Recent Changes in our State Constitutions - Simeon E. Baldwin. X. The Policy of Patent Laws-Frederic H. Betts. XI. The Sewerage of the Smaller Towns George E. Waring, Jr. XII. Industrial Arbitration and Conciliation - Joseph D. Weeks. CONTENTS OF NUMBER ELEVEN.-Report of the Annual Meeting, 1880. List of Members. I. Southern Questions: 1. The Negro Exodus from the Gulf States-Frederick Douglass. 2. The Emigration of Colored Citizens from the Southern States- R. T. Greener. 3. Colored Schools in Virginia-Mrs. Orra Langhorne. II. Recent Changes in the WestRobert P. Porter. III. A Report on Protection from Casualties in the Use of Machinery; Professor William Watson. IV. International Coinage - Robert Noxon Toppan. V. Social Economy Papers: 1. Report of the Department of Social Economy-F. B. Sanborn. 2. The Care of Poor and Vicious Children-Charles L. Brace. 3. Social Economy in Illinois Mrs. Harbert. 4. Co-operative Distribution-William A. Hovey. 5. Co-operation in England-James Samuelson. Saratoga Papers of 1877: 1. Extradition - Sheldon Amos. 2. Graduate Courses at Law Schools- Professor S. E. Baldwin. CONTENTS OF NUMBER TWELVE.- Professor Peirce's Cincinnati Address: The National Im portance of Social Science in the United States. President Gilman's Opening Address. Report of the General Secretary, by F. B. Sanborn. Report of the Treasurer and Publication Committee: Professor Wayland and F. B. Sanborn. Papers of the Education Department: I. Report on Kindergarten Schools - Professor Harris, Mrs. Talbot. II. The Relation of the Public Library to the Public Schools - Samuel S. Green. III. Educational Progress in England - Miss Edith Simcox. IV. Home Life in some of its Relations to Schools Miss Mary W. Hinman. V. The American Newspaper and American Education - Dr. J. M. Gregory. Libel and its Legal Remedy - E. L. Godkin. Papers of the Social Economy Department: I. Associated Charities. A. The Principle and Advantage of Association in Charities-Rev. D. O. Kellogg. B. General and Special Methods of Operation Rev. O. C. McCulloch. C. The Need and Work of Volunteer Visitors-R. T. Paine, Jr. D. The Care and Saving of Neglected Children Miss Anna Hallowell. II. The Principle of Volunteer Service Mrs. Florence Bayard Lockwood. III. The Recreations of the People George B. Bartlett. IV. The Justifying Value of a Public Park - F. L. Olmsted. Constitution, Officers, and Members of the Association. CONTENTS OF NUMBER THIRTEEN.- Order of Business at Saratoga in 1881. Papers of the Jurisprudence Department: I. Pensions in a Republic - Frederick J. Kingsbury. II. Modern Legislation touching Marital Property Rights-Henry Hitchcock, LL.D. III. The German Socialist Law of Oct. 21, 1878- Henry W. Farnam. IV. The Study of Anatomy, Historically and Legally Considered- Edward Mussey Hartwell, M.A. Papers of the Health Department: I. The Treatment of Insanity in its Economic Aspect - Walter Channing, M.D. II. Adulterations in Food - Professor S. W. Johnson. Debate on Adulterations. Remarks of George T. Angell. General Papers: I. Christianity and the Relations of Nations Charles L. Brace. II. Indeterminate Sentences and their Results in New York-Z. R. Brockway. III. Changes in American Society - Julia Ward Howe. Appendix; Infant Development. CONTENTS OF NUMBER FOURTEEN.-I. The General Meeting of 1881. Death of President Garfield. II. Opening Address of Professor Wayland, President of the Association. III. The Threefold Aspect of Social Science. Report of the General Secretary, F. B. Sanborn. IV. Civil Service Reform, an address by George W. Curtis. V. The American Newspaper Charles Dudley Warner. VI. Prohibitory Legislation - P. Emory Aldrich. VII. Province of Legislation in the Suppression of Intemperance-F. W. Bird. VIII. License and Prohibition - Rev. Leonard W. Bacon. IX. The Moral Statistics of the United States - Dr. Woolsey. X. Divorce Laws - Professor W. C. Robinson. XI. Lax Divorce Legislation Rev. S. W. Dike. XII. Address on Health and Insanity- Walter Channing, M.D. XIII. Women Practising Medicine - Dr. E. F. Pope. XIV. Constitution, List of Members, Officers, and Committees of the Association. CONTENTS OF NUMBER FIFTEEN.-I. Papers on Infant Development - Professor Harris, Mr. Darwin, Mr. Alcott, Dr. Preyer, M. Taine, etc. II. Report of Mrs. Talbot. III. Religious and Moral Education of Children - Professor G. S. Hall. IV. Treatment of Incipient Insanity - Mary Putnam-Jacobi, M.D. V. Debate on Insanity- Professor W. T. Harris, Dr. Channing, F. B Sanborn, etc. VI. Papers on Building Associations - R. T. Paine, Jr., and Addison B. Burk. VII. Homes for the People in Washington - John Hitz. VIII. Art in its Relation to the People - Martin Brimmer. CONTENTS OF NUMBER SIXTEEN.- Papers of the Health Department: I. Address of the Chairman - Walter Channing, M.D. II. The Michigan Plan for Boards of Health - Dr. Henry B. Baker. III. The Health Care of Households with Special Reference to House Drain age Ezra M. Hunt, M.D. IV. The Health of Boys' Boarding-schools-D. F. Lincoln, M.D. V. The Health of Criminal Women-Eliza M. Mosher, M.D. VI: The Management of Chronic Inebriates and Insane Drunkards - Albert N. Blodgett, M.D. VII. Remarks of Mr. Parker on Boards of Health. VIII. International and National Relief in War-Miss Clara Barton. Papers of the Social Economy Department: I. Address of the Chairman F. B. Sanborn. II. The Factory System as an Element in Civilization - Carroll D. Wright. III. Early Factory Life in New England - Mrs H. H. Robinson. IV. American Factory Life - Miss Lucy Larcom. V. Ten Hours - Rev. Jesse H. Jones. CONTENTS OF NUMBER SEVENTEEN. I. Introduction. II. Address-Rev. A. D. Mayo, on National Aid to Education. III. Address President Angell, on Diplomatic Relations between China and the United States. IV. Papers of the Jurisprudence Department, namely: 1. Professional Ethics - Theodore Bacon. 2. Local Self-government - Edward W. Bemis. 3. Disfranchisement for Crime- James F. Colby. 4. A Plan for Extinguishing CrimeEdwin Hill. 5. Punishment for Certain Crimes-H. A. Hill. V. Address Professor W. T. Harris. VI. The Darwin Commemoration. VII. A Paper on the Progressive Spelling Rev. H. L. Wayland. VIII. Miscellaneous Matters. CONTENTS OF NUMBER EIGHTEEN.-I. Introductory. II. Opening Address - Professor Wayland. III. Report of the General Secretary-F. B. Sanborn. IV. Papers on Health and Education: 1. Health and Social Science - Dr. E. M. Hunt. 2. Physical Training in Homes and Training-schools-Professor D. A. Sargent. 3. True Higher Education W. C. Thomas. 4. Causes of Insanity-Dr. W. Channing. 5. Inebriety in Women - Dr. L. M. Hall. 6. The Disease of Inebriety - Dr. T. D. Crothers. 7. House-building and Drainage G. E. Waring, Jr. 8. Moral Education in Schools - Professor W. T. Harris. V. Papers of the Jurisprudence Department: 1. Assertion of Rights-J. T. Platt. ternational Ethics-E. M. Gallaudet, LL.D. 3. Legal History of the Telephone M. F. Tyler. VI. Addresses and Special Papers: 1. American Civil Service SystemJ. M. Gregory, LL.D. 2. Public Libraries-J. M. Larned. 3. Religion of India - Mr. Mozoomdar. 4. New Methods of Study in History-H. B. Adams. VII. Papers of the Social Economy Department, namely: 1. Race Problems in the United States - Professor C. A. Gardner. 2. Relations between Employers and Employed - Mrs. S. K. Bolton. 3. Child-helping in New York-C. L. Brace. 4. Prison Labor. 2. In CONTENTS OF NUMBER NINETEEN.-I. Introductory. II. Report of the Secretary-F. B. Sanborn. III. Papers of the Finance Department: 1. Scientific Basis of Tariff Legislation C. D. Wright. 2. Financial Standing of States - Henry C. Adams. 3. The Rate of Wages Edward Atkinson. 4. Industrial Education - F. A. Walker. IV. Papers of the Jurisprudence Department. 1. Conflict of State Laws Eugene Smith. 2. The Pardoning Power F. Wayland. 3. Threefold Basis of the Criminal Law - F. H. Wines. V. Hebrew Charities-Mary M. Cohen. VI. Constitution and Members of the Association. CONTENTS OF NUMBER TWENTY.-I. Papers of the Education Department: 1. The Function of Latin and Greek in Education - Dr. W. T. Harris. 2. Problems in Education - Mrs. Emily Talbot. 3. Athletic Education - Dr. Edward Hitchcock. 4. Physical Education in Women's Colleges Mrs. R. S. Bryan. 5. The Higher Education of Women in Great Britain and Ireland - Miss Lumsden. II. Additional Papers of the Jurisprudence Department: 1. The Law for the Commitment of Lunatics Mr. F. H. Wines. 2. Lunacy Legislation in the North-west Professor A. O. Wright. III. Papers of the Health Department: 1. Dr. Sargent's Summary. 2. Tenement Houses-Dr. Lucy M. Hall. IV. The Civil Service in States and Cities - Edward M. Shepard. CONTENTS OF NUMBER TWENTY-ONE. 1. President Eaton's Address, 1885. 2. Business and CONTENTS OF NUMBER TWENTY-TWO.- Conference of Alienists. Business and Debates of CONTENTS OF NUMBER TWENty-three.— Business and Debates of 1887. Address of the President: Problems of the Census - Carroll D. Wright. I. Papers of the Social Economy Department: 1. Address of the Chairman- F. B. Sanborn. 2. Profit Sharing as a Method of Remunerating Labor - F. J. Kingsbury 3. Alfred Dolge and his Experiments-A. Dolge and Ernest Richard. 4. Profit Sharing Historically and Theoretically ConsideredG. M. Powell. 5. Labor Organizations-J. G. Brooks. 6. Woman and the Temperance Question - Frances E. Willard. II. Papers of the Jurisprudence Department: 1. The American System of Trial by Jury-D. H. Chamberlain. 2. The Law's UncertaintyThomas Thatcher. 3. The Incorrigible - Francis Wayland. 4. Private Corporations and the State H. A. James. 5. Social Science in the Law of Moses H. L. Wayland. CONTENTS OF NUMBER TWENTY-FOUR.- Introductory. Committee on Provident Institutions. Constitution, List of Members, etc. I. Papers of the Health Department: 1. Relation of the Physician to the Community, and of the Community to the Physician - Grace Peckham, M.D. 2. The Function of the Lungs-D. Emery Holman, M.D. 3. Certain Injurious Influences of City Life and their Removal - Walter B. Platt, M.D. 4. The Criminal Type William Noyes, M.D. 5. Immigration and Nervous Diseases-C. L. Dana, M.D., with Discussion. II. Papers of the Education Department: 1. The Opportunities of America F. B. Sanborn. 2. Address T. W. Higginson. 3. Pedagogy in American Colleges -Professor E. J. James. 4. The Education of Women - Arthur Gilman. CONTENTS OF NUMBER TWENTY-FIVE-General Meeting of 1888. President Adams on Higher Education. I. The Growth and Purposes of Bureaus of Statistics of Labor - Address of the President, Carroll D. Wright. II. Papers and Debates of the Department of Health: 1. Address on Requirements for a Medical Degree-Dr. H. H. Curtis. 2. How Far can Legislation aid in Maintaining a Proper Standard of Medical Education? - W. A. Purrington. 3. The Value of a Liberal Education Antecedent to the Study of Medicine - Sylvester F. Scovel. Remarks of Dr. Grace Peckham. 4. Unsanitary Conditions in Country Homes Dr. Lucy M. Hall. 5. The Working-women of New York: Their Health and Occupations Elizabeth Stow Brown, M.D. 6. The Struggle for Subsistence: How can it be most Efficiently Aided?- Henry Dwight Chapin, M.D. III. Papers of the Finance and Social Economy Departments: 1. Address of the Chairman - F. B. Sanborn. 2. Savings Banks in the United States - John P. Townsend. 3. Co-operative Building Associations. Report of the Special Committee. 4. Report on Savings Banks and Building Associations of Illinois - Professor J. W. Jenks. 5. Co-operative Building and Loan Associations in the State of New York-Seymour Dexter, Esq. 6. The Dangerous Side of Building Associations Mr. C. F. Southard. 7. Notes on Provident Institutions in Arkansas, Tennessee, and Texas - Professor Robert T. Hill. 8. Life Insurance - Report of the Committee. Hebrew Provident Institutions. 9. The Early History of School Savings Banks in the United States-J. H. Thiry. CONTENTS OF NUMBER TWENTY-SIX.- General Meeting of 1889. Reports of the General Secretary. Constitution, List of Members and Publications, etc. I. Papers of the Jurisprudence Department: 1. The Economic Law of Monopoly-President E. B. Andrews. 2. Constitutional Guarantees of the Right of Property -George Hoadly. 3. Education as a Cure for Crime S. T. Dutton. 4. Immigration and Crime-W. M. F. Round. 5. The Dead Hand-Dr. H. L. Wayland. II. Papers of the Education Department: 1. Industrial Training of the Defective Classes. Discussion by President Gallaudet, General Brinkerhoff, Dr. Bryce, F. B. Sanborn, Miss Alice Cooke, etc. 2. Popular Fallacies concerning the Insane -Dr. Pliny Earle. III. Papers of the Social Economy Department: 1. Report on Co-operative Building and Loan Associations. 2. Socialism in England - Percival Chubb. Sold by DAMRELL & UPHAM, Boston; G. P. PUTNAM'S SONS, New York; and by F. B. SANBORN, Secretary, It is proposed in this paper to consider under what conditions a business monopoly may be created or maintained, what the normal economic effects of monopolies are, and what course of events would be entailed, should monopoly entirely succeed free competition as the principal form of commercial enterprise. These are inquiries on which almost nothing has been written, competition having hitherto been assumed as the certain postulate of all economic analysis and generalization. Fresh study in this region is pressingly needed. Competition in its ancient and familiar form is passing away, never to reappear. Monopoly, the new order, has in it the power to be immeasurably superior to that which it supplants.* Society will find, however, that, to realize this unbounded potential advantage, it must, more than has been necessary heretofore, substitute its own conscious control over the work of production for the spontaneous action of economic forces. If, through ignorance or undue reverence for tradition, it shall fail to do this, monopoly will prove no factor of social advance, but precisely the reverse. In this matter we stand to-day at Shechem, Mount Ebal upon one side, Mount Gerizim upon the other. Whether blessing or cursing awaits us, it is ours to decide. A monopoly may be said to exist in any business when such a control is anywise exerted therein as to keep selling prices from being fixed by the law of supply and demand.† This paper was criticised when read, as not recognizing sufficiently the advantages of monopoly. I mean to do full justice in this regard; and the careful reader will not, I think, consider me to have failed. If I did not enter into lengthy discussion upon the point, it was from a conviction that such a course was no longer necessary. ↑ Another criticism at Saratoga had regard to this definition, condemning it as too broad, and as involving in censure all cases of large capital under a single control. The definition may be imperfect, yet seems to me to contain no such implication. Very many mammoth enterprises carry with them no monopoly whatever. 7 C Monopoly may be either natural or artificial. As a fine illustration of a natural monopoly, the late Mr. Senior, in one of the few regular discussions of this subject with which I am acquainted, presents the ownership of the Constantia vineyard. Constantia wine owes its rare and delicate flavor to the very peculiar character of a few acres of ground. No other land will yield the like, so that no person save the owner of Constantia farm can be a producer of the wine. There is, I believe, but one nickel mine in this country. If there were no other in the world, this mine would be just like Constantia, a monopoly existing in the nature of the case. As a matter of fact, art, in the form of revenue legislation, here co-operates with nature. All proprietorship of mines, of land, or of water-power, in the same way naturally involves monopoly. The legislation granting titles in such cases does not create, it merely assigns, the monopolies. Government also, in its strict sphere, is a natural monopoly; for, though any particular form of polity may originate artificially, civil rule in itself is no less spontaneous than life. A railroad, once created, has a natural monopoly of its strictly way traffic, inasmuch as, when the power to be a railroad has once been given it by law, monopoly arises independently of all further legislation. Great original endowments in any economic direction, on the part of individuals,— the genius of a Webster, of a Garrick, of a Thomas Brassey, of an Edison,-manifestly constitute in each case a natural monopoly. When, on the other hand, as so often under Elizabeth and James I., public power grants the exclusive right to manufacture or sell any commodity, the monopoly originates in the grant, artificially, and not in the nature of the case. Seal-fishing in the Northern Pacific, so far as controlled by our government, is an artificial monopoly. The sale of tobacco in nearly all continental countries is the same. Examples of governmental monopoly could easily be multiplied; but the phenomenon is in fact too simple to be dwelt upon. But the most interesting artificial monopolies are not those which arise from the action of government. They are the laissezfaire monopolies,- those, that is, which private parties or combinations of private parties erect. To this variety belong, for the most part, the monopolies connected with the trusts, syndicates, and combinations, so common and famous at present. None of them are the pure products of nature; and few, if any, owe their existence wholly to the agency of law, helpful as this may be to |