community, and
to escape the perils of luxurious living requires unusual will-power and
prudence.

Great capital at the disposal of a single individual confers on its
possessor great power over the course of industrial development, over his
fellow men and sometimes over the course of great public events, like
peace or war between nations. It enables a man to do good or harm, to give
joy or pain, and places him in a position to be feared or looked up to.

There is pleasure in the satisfaction of directing such a power, and the
greater the character the greater may be the satisfaction. In giving this
direction the great capitalist may find an enjoyable and strenuous
occupation. For a conscientious, dutiful man a great sense of
responsibility accompanies this power. It may become so powerful as to
wipe out the enjoyment itself.

The most serious disadvantage under which the very rich have labored is
the bringing up of children. It is well-nigh impossible for a very rich
man to develop his children from habits of indifference and laziness.
These children are so situated that they have no opportunity of doing
productive labor, and do nothing for themselves, parents, brothers, or
sisters, no one acquiring the habit of work. In striking contrast are the
farmer's children, who cooperate at tender years in the work of the
household.

Among President Eliot's hearers were many young men to whom the blessings
of poverty were unknown.

TO TEACH TRADES TO YOUNG WORKERS.

Dean Balliet Emphasizes the Importance
of Trade-Schools in the Adjustment
of Our Economic Problems.

A box of tools, and not a bundle of books, will be the burden of many a
school-child, if the trade-school system becomes firmly established. In
Germany the public trade-schools have proved very effective. In the United
States there has been an encouraging seven-year experiment at Springfield,
Massachusetts, and two schools have recently been established in New York
City.

The trade-school differs from the manual training-school. Manual training
is educational. "It develops the motor and executive sides of a child's
nature," to quote Dean T.M. Balliet, of the School of Pedagogy in New York
University. Also it fits young men for higher technical training. The
trade-school, on the other hand, teaches young people how to work at
actual wage-paying trades--how to be plumbers, electrical fitters,
carpenters, masons, ironworkers.

Dean Balliet, having m