NAPIER

New Zealand Tablet, Issue 3, 6 August 1908, Page 24

NAPIER

(From our own correspondent.)

Mr. R. P. Clarkson, M.A., delivered a lecture on ' Political Economy ' under the auspices of the Catholic Young Men's Society last evening. The Rev. Father Goggan presided, and, owing to the unfavorable weather, there was only a moderate attendance.

Mr. Clarkson said the subject was very popular and evenqnc knew something of it. It dealt with subjects of paramount importance to society, and with subjects which the people came in contact with in everyday life. It was a science, but unlike other scientific subjects could not be experimented with. It was, however, not without unpopularity. This was due to ignorance or prejudice, and when a science is studied, the mind must be unprejudiced. Referring to statistics, Mr. Clarkson said that figures of recent times only were available, arid -as far as the present-day economists were concerned, the statistics were practically valueless. The history of economics was very fragmentary and unreliable, but still where applicable was most valuable. Mr. Clarkson proceeded to quote opinions of early day writers on political Iconomy, Adam Smith, Malthus, Riccardo, and John Stuart Mill, and compared their views with those of present-day economists. Dealing with the study of wealth, the speaker said that early writers took wealth as synonymous with the well-being of the people. Prices were considered to rise according to it and it gave use to three fundamental requisites of production — land, labor, and capital. As to tariff, the returns, he said, do not represent the true trade of a country. The exports, for instance, of England were only one-third of the trade, .and that country was represented as exporting less than Germany or the United- States. This, however, was wrong, as England's exports were double per * head

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of the population of those of the two last-named countries. Touching very briefly on Socialism, Mr. said this, > was an important question for economists, who could not satisfy either party. Distribution could not be separated from • production. Thai was where economists , called a" halt. Socialism found fault with the Catholic Church, because the Church: pointed "out thdt Socialism was not desirable. ■ " \ ~i On the motion of • the chairman a hearty vote _of thanks was passed to Mr. Clarkson, a similar compliment" to the chairman closing the meeting. , , -' - - "