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A very moderate portion of her wealth, expended by an able and economical prince, in a country where prices were low, would be sufficient to equip and maintain a formidable army. Such was the situation in which Frederic found himself. He saw the whole extent of his peril. He saw that there was still a faint possibility of escape; and, with prudent temerity, he determined to strike the first blow.
He was the first writer who fairly brought under distinct consideration what he held, with reason, to be the most important branch of economical inquiry. There was clearly a gap in the economic doctrine represented by the Wealth of Nations. Adam Smith was primarily concerned with the theory of the 'market. He assumes the existence of the social arrangement which is indicated by that phrase.
"Plowing and planting" working where he had toiled since a child would be a solace in itself, and not a grudged means to a sordid end. Mr. Weeks was a thrifty man also, and in nothing was he more economical than in charitable views of his neighbors' motives and conduct. He drove homeward with the complacent feeling that he had done a shrewd, good thing for himself and "his folks" at least.
Most of all I diagnosed him as economical of himself, of his men and of his possessions, especially of cash; as swayed by self-interest alone, as flinty-hearted; yet as capable of kindliness when it did not interfere with his plans and was not too expensive. I waited in silence for him to speak. He said: "I am a very busy man, even far too busy.
In fact, as Krupp's agent at Spezia predicted, the analysis is less instructive than we could wish. The Engineer. The industrial world has reason to feel considerable interest in any economical method of traction on railways, owing to the influence which cost of transportation has upon the price of produce. We give a description of the gas engine invented by Mr. Emmanuel Stevens.
This annoyed her, and she began to scold a little. They answered civilly, but in other respects remained imperfect beings; they laid out every shilling they earned in finery; and, this, I am ashamed to say, irritated Mrs. Staines, who was wearing out her wedding garments, and had no excuse for buying, and Staines had begged her to be economical.
She accepted all that Philip did for her as if it were the most natural thing in the world, and on his side he loved to spend money on her: each five-pound note he gave her caused him a little thrill of happiness and pride; he gave her a good many, for she was not economical. "I don't know where the money goes to," she said herself, "it seems to slip through my fingers like water."
This firm philosophy I seek to call to mind when I am in the East of London, whither my avocations often lead me; and, indeed, to fortify myself against the depressing sights which on these occasions assail us, I have transcribed from The Times one strain of this kind, full of the finest economical doctrine, and always carry it about with me. The passage is this:
The fact is, the precious metal is so very abundant, and the profits so satisfactory, that the managers and owners grow careless, having little incentive to spur them on to adopt more economical and productive methods.
In an interesting article published by the German Socialist paper Vorwärts, on September 27, 1914, and reproduced in our Press, occurred the following passage, in which the war is traced to its commercial sources: "Germany has enjoyed an economical prosperity such as no other country has experienced during the last decade.
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