rests upon an economic basis, the public has a vital interest in
business. The rise of great corporations and the necessity of
safeguarding the public from monopolistic abuses make necessary a
careful examination into the relation of government to business. We
shall meet with this question: Shall the government regulate, or
actually own, businesses of vital importance to the public? Equally
knotty, but fully as interesting, is the tariff question. Should
Congress tax foreign goods entering this country, and, if so, upon
what principles should this tax be determined? This will bring us to
the general problem of taxation, a subject to which the American
people will probably devote an increasing amount of attention in the
next few decades. The question of conserving our natural resources
must also be discussed. Last in this group of problems may be
mentioned the question of money and banking. In discussing this
important subject we shall notice, among other things, the interesting
Federal reserve system, which, it is hoped, will protect us from
panics in the future.

49. PROBLEMS IN EFFECTIVE GOVERNMENT.--The economist has good reason
for declaring that the getting of a living is one of the most
fundamental concerns in life; on the other hand, no people can long
get a comfortable living without the aid of a helpful system of
government. Government must be made effective. This introduces us to
another series of problems. First of all, who shall share in
government? And how may we improve the methods by which we select the
agents of government? How may corruption and inefficiency be
eliminated from American government? What is the significance of the
Initiative, the Referendum, and the Recall?

These questions must prove of fascinating interest to those who think