This book is included in the Family Affairs - Education section.
NEW YORK: HINDS & NOBLE,
Publishers: 1902
CONTENTS
Introduction
Suggestions to the Teacher
Chapter I. What is Barter?
Chapter II. What is Money?
Chapter III. Silver Question
Chapter IV. How did Paper come to be used in Place of Coin?
Chapter V. How did Paper come to be used in Place of Coin?
(continued)
Chapter VI. What are Greenbacks?
Chapter VII. What is Irredeemable Paper Money, and What are Bluebacks?
Chapter VIII. What is Irredeemable Paper Money, and What are Bluebacks?
(continued)
Chapter IX. What are United States Bonds
Chapter X. What is a Tax?
Chapter XI. High and Low Taxes
Chapter XII. High and Low Taxes
(continued)
Chapter XIII. What is a Corporation - Mills
Chapter XIV. What is a Corporation - Railroads
Chapter XV. What is a Strike?
Chapter XVI. What is a Strike?
(continued)
Chapter XVII. Debt and Saving
Chapter XVIII. Debt and Saving(continued)
Chapter XIX. What are Savings Banks?
Chapter XX. What are Savings Banks?
(continued)
Chapter XXI. Endowment Orders, 1895
Introduction
In the elementary education which is given in our public schools, it is
necessary that those studies should be chosen which will best fit the
majority of children for the practical life into which they must enter.
With most children that life begins when they leave the grammar schools,
and whatever education they are to have (using the word education in the
limited sense of school instruction) they receive while there.
Therefore, the determining of the course of studies becomes of great
importance.
The question is chiefly one of selection; and should we not consider
whether, in our public schools, the more essential studies are not
sometimes sacrificed and crowded out for the less useful ones? Will the
ability to name the vegetable and mineral products of Uruguay and Turkey
be as useful to a boy throughout his life as a knowledge of some of the
more important laws of health? or help to make him as good a citizen as
a few sound ideas on government and economic laws?
In watching some of the phenomena of American politics, it is plainly
seen that a great body of our voters - and often of our legislators,
too! - are lamentably ignorant of even the simpler laws underlying the
social and financial questions of our age. One well known example of
such ignorance is the Greenback delusion of 1873 and 1874. There would
also seem to be in the minds of many people a very vague idea as to the
sources of government revenues; and, resulting from this, an apparent
belief that the United States government has absolutely unlimited
supplies of money at its command, and that no harm can come to the
country at large from a lavish expenditure of this public money. Other
misapprehensions of this nature are not far to seek.
It is impossible to suggest a panacea for such evils, and of course long
years of experience are the most efficacious teachers on these subjects.
But though political economy is a science all the data of which are by
no means as yet known, some few of its laws appear to have been
sufficiently well established to act as guides in every-day life.
In view of this fact, it has occurred to us, that, if a few of the more
practical questions dependent on these laws could be treated in a way
simple enough for a child to comprehend, it might be possible to give
our school children right ideas at the outset. If this could be done,
the graduates of our schools, when called upon in after years to vote on
social or financial subjects, might not be so wholly unprepared as they
often are now.
As a first step to this kind of instruction, we have tried to put the
following lessons on money, banks, etc., in a form available for grammar
schools, where, as we have said, the school life of the majority of the
children ends. It is easily seen that children find it difficult to
grasp an abstract idea; we have, therefore, tried to make the whole work
as little complicated as possible, emphasizing principles rather than
details, and making use of simple language and frequent repetition. For
the same reason, we have avoided the complicated history of money by
using sometimes purely mythical cases, and have tried to deal only with
those principles which seem, as we have said, to have been well
established, leaving out disputed points as far as possible. We have
purposely left untouched the intricate workings of moneyed corporations,
and exchange, - assuming that the United States government always sells
its bonds at par, and greatly simplifying the process of paying off the
bonds, and also assuming that our corporation sells its stocks and bonds
at par, - because we felt that extensive explanations would hopelessly
confuse a child's mind, and prevent its retaining any clear ideas
whatever on these subjects. A few facts we have tried to emphasize
especially; such as, that money follows fixed laws, which cannot be
broken with impunity by any government; that harm is done to all - and
most of all to the poor - by extravagance in the use of public money;
and that actual evils often attend the contracting of debts.
Suggestions to the Teacher
The following lessons on matters concerning every-day life are designed
for the teacher's use among the older children of our grammar schools.
Not wishing to burden them with another separate study, we have tried to
combine our work with that of composition writing (which already forms a
part of school instruction), intending that the different topics shall
be taken as subjects for that exercise. As a rule, the lessons will
probably not be intelligible to children under twelve, and, in any case,
it will be necessary to proceed very slowly and carefully in giving them
to the advanced classes.
Our plan is as follows: - Let the first chapter be read to the children
slowly, and with any additional explanation, or illustration, of the
subject that may occur to the teacher. The teacher may then ask the
questions given at the end of the chapter, or may test the children's
understanding of what has been read in any way that commends itself.
It is suggested that on the following composition day the children shall
hand in abstracts of the lesson. The best of these may be read before
the class, and the scholars asked to criticize them. If the subject
appear to be fully understood, the teacher may go on to the next lesson;
if not, it would be well to read the first one again, and question the
children; and if it seems desirable, they might write again on the same
subject.
But it is not thought best to have them learn the lessons by heart, as
what is learned mechanically is generally soonest forgotten.
Thus let each lesson be treated in turn, with such reviews as may be
necessary to make the children retain the main points clearly in their
minds.
It is further suggested, that, whenever it is possible, the teacher
should illustrate the lesson by facts and statistics of local interest,
thus giving the exercise something of the force and value of an object
lesson. Town reports and almanacs may be useful for this purpose.
If any of the scholars show a special aptitude for or interest in such
studies, they should be directed by the teacher to more advanced and
thorough treatises on these subjects.
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