You are not a political economist, Jonathan, nor a statistician. Most books on political economy, and most books filled with statistics, seem to you quite unintelligible. Your education never included the study of such books and they are, therefore, almost if not quite worthless to you.

But every working man ought to know something about political economy and be familiar with some statistics relating to social conditions. So I am going to ask you to study a few figures and a little political economy. Only just a very little, mind you, just to get you used to thinking about social problems in a scientific way. I think I can set the fundamental principles of political economy before you in very simple language, and I will try to make the statistics interesting.

But I want to warn you again, Jonathan, that you must use your own commonsense. Don't trust too much to theories and figures—especially figures. Somebody has said that you can divide the liars of the world into three classes—liars, damned liars and statisticians. Some people are paid big salaries for juggling with figures to fool the American people into believing what is not true, Jonathan. I want you to consider the laws of political economy and all the statistics I put before you in the light of your own commonsense and your own practical experience.

Political economy is the name which somebody long ago gave to the formal study of the production and distribution of wealth. Carlyle called it "the dismal science," and most books on the subject are dismal enough to justify the term. Upon my library shelves there are some hundreds of volumes dealing with political economy, and I don't mind confessing to you that some of them I never have been able to understand, though I have put no little effort and conscience into the attempt. I have a suspicion that the authors of these books could not understand them themselves. That the reason why they could not write so that a man of fair intelligence and education could understand them was the fact that they had no clear ideas to convey.

Now, in the first place, what do we mean by Wealth? Why, you say, wealth is money and money is wealth. But that is only half true, Jonathan. Suppose, for example, that an American millionaire crossing the ocean be shipwrecked and find himself cast upon some desert island, like another Robinson Crusoe, without food or means of obtaining any. Suppose him naked, without tool or weapon of any kind, his one sole possession being a bag containing ten thousand dollars in gold and banknotes to the value of as many millions. With that money, in New York, or any other city in the world, he would be counted a rich man, and he would have no difficulty in getting food and clothing.

But alone upon that desert island, what could he do with the money? He could not eat it, he could not keep himself warm with it? He would be poorer than the poorest savage in Africa whose only possessions were a bow and arrow and an assegai, or spear, wouldn't he? The poor kaffir who never heard of money, but who had the simple weapons with which to hunt for food, would be the richer man of the two, wouldn't he?

I think you will find it useful, Jonathan, to read a little book by John Ruskin, called Unto This Last. It is a very small book, written in very simple and beautiful language. Mr. Ruskin was a somewhat whimsical writer, and there are some things in the book which I do not wholly agree with, but upon the whole it is sane, strong and eternally true. He shows very clearly, according to my notion, that the mere possession of things, or of money, is not wealth, but that wealth consists in the possession of things useful to us. That is why the possession of heaps of gold by a man living alone upon a desert island does not make him wealthy, and why Robinson Crusoe, with weapons, tools and an abundant food supply, was really a wealthy man, though he had not a dollar.

In a primitive state of society, then, he is poor who has not enough of the things useful to him, and he who has them in abundance is rich, or wealthy.

Note that I say this of "A primitive state of society," Jonathan, for that is most important. It is not true of our present capitalist state of society. This may seem a strange proposition to you at first, but a little careful thought will convince you that it is true.

Consider a moment: Mr. Carnegie is a wealthy man and Mr. Rockefeller is a wealthy man. They are, each of them, richer than most of the princes and kings whose wealth astonished the ancient world. Mr. Carnegie owns shares in many companies, steelmaking companies, railway companies, and so on. Mr. Rockefeller, owns shares in the Standard Oil Company, in railways, coal mines, and so on. But Mr. Carnegie does not personally use any of the steel ingots made in the works in which he owns shares. He uses practically no steel at all, except a knife or two. Mr. Rockefeller does not use the oil-wells he owns, nor a hundred-millionth part of the coal his shares in coal-mines represent.