[5] It may be added that they also present evidence—to which attention has not, I believe, been previously called—in support of the James-Lange or physiological theory of emotion, according to which the element of bodily change in emotion is the cause and not the result of the emotion.
[6] Wealth of Nations, vol. i, p. 112 (Rogers's edition).
[7] Bastable. Public Finance, p. 181.
[8] "The old protectionist, with the stock arguments about the influence of the tariff upon wages and all the rest of it, is beginning to die out. He told us all he had to say about the 'pauper labor' of Europe, by which he often meant the best educated and most skillful artisans of the world. We got tired of hearing about how the importer paid the tax, how it was Europe and England in particular that was all the time squeezing our lives out, till nearly all of us, being of English ancestry ourselves, wondered whether we, even, could be so good as we hoped we were, if we had sprung from something so essentially perverted and bad. We were told, too, that American tourists who went to Europe and spent money there which they ought to have squandered at home were not friends of their country, and that they did us a particularly hostile act when they brought clothing, statuary, or diamond rings back with them from foreign parts. A season of high prices was a real heaven, and wars and fires were good things because they destroyed property that would have to be replaced, and this would create that demand which, reacting on supply, would increase prices. To say that an article was cheap was to say that the political party in power was no longer worthy of public confidence. It was related that each government could make its people so rich, and the idea was thought to have been traced down from Henry C. Carey, that the rest of the world could be safely disregarded altogether.
"Seriously, who believes any of this stuff nowadays? The protectionist is not reckoning with such popular impotency and stupidity. He believes in his fellow-man, and wants to give him a helping hand. He does not care what effect it has on England or Ireland. He is not sure that a protective tariff in and of itself will increase the wages of the workmen. He is even inclined to think that less wages and profits would do well enough for every man, if it were cheaper to live and there were not such extravagant demands upon every person from all sides—this without being a socialist. He is certain that 'a cheap coat' does not necessarily make 'a cheap man,' but the cheaper the coat the better it will be for the wearer. That is what we are all trying to do, improve our processes, increase our effective working power, which means, if you please, to make things cheaper."—The Manufacturer (organ of the Manufacturers' Club of Philadelphia).
[9] I have been permitted to review the detailed statements of the accounts of one of the great enterprises which I have called the manufacture of wheat on a large scale on various large farms, separated one from another but under one control, aggregating more than twenty thousand acres, in North Dakota. They are managed mainly from a long distance through agents and foremen, therefore at a relative disadvantage compared to a farmer owning his own land, acting as his own foreman, and saving heavily in expense. Such farmers, making no charge for their own time, are computed to have a cash advantage of one dollar an acre.
A large part of this land has been cropped in wheat for twenty-four years, one farm of six thousand acres showing an average in excess of eighteen bushels per acre for the term of seventeen years. The details of the product of other farms are not given, but this may be considered a rule. Of course, this cropping can not be carried on indefinitely. The land is now being allowed to rest, and other crops, such as maize, oats, barley, millet, and timothy, are to some extent being raised in rotation, but not to the extent in which individual wheat farms are now passing into rotation, especially in Minnesota.
In this enterprise the manufacture of wheat is the main purpose, but under the changed conditions on the small farms in Minnesota wheat is becoming rather the cash or excess crop in a rotation of four; at present, in North Dakota, wheat constitutes about three fourths the total product.
In these accounts of this great farm are included all charges of every name and nature except what might be called the rent of land: the labor, the harvesting and thrashing, the general expense including the foreman and all other charges; the office expenses, the taxes, the insurance, and, when summer fallow is introduced, the cost of the summer fallow. Suffice it that these figures for 1898—a year of high charge for seed and one which yielded a fraction over the average in product—prove conclusively an average of all charges of less than five dollars an acre for the cost of the product. In different years under these conditions the cost of the wheat varies from a little over twenty cents to approximately thirty-five cents per bushel. The cost of oats, which are cultivated with the wheat mainly for use on the farms, ranges from ten to fifteen cents per bushel.
These are facts. The pending question in this discussion is, How much land, occupied by owners but not now in use, is there in this section of the country on which similar results can be attained, with better results by individual farmers who possess mental energy and practical skill? The figures given by the chiefs of the agricultural experiment stations may rightly be taken in the solution of this question.