e points
of maximum utility; that accumulation of capital by and for the wage
workers is made regular, automatic, safe, and in great amounts; and
that financial aid, physical care, and mental relief from, some of the
most tragic anxieties of life, are given effectively and economically
to the masses of the people.

But, as has been indicated in another connection above, it is far
from being a matter of indifference, psychologically, where the first,
immediate burden of premium payment falls. The persons paying the
premiums, in whole or in part, are far more keenly aware of the cost,
and alive to reducing and removing the evil conditions. Moreover,
their interest is stimulated by the fact that they are the first
to gain by any temporary economies, and the more so because of the
illusory belief sure to persist, that they are the ultimate as well as
the immediate bearers of the costs.

The development of a complete system of social insurance along these
lines promises to do more than any other single measure of practical
social reform now under consideration to change the conditions and the
outlook of the wage-earning class.

[Footnote 1: See above ch. 2, sec. 14; ch. 10, sec. 7; ch. 20, sec. 1;
ch. 22, secs. 11-18.]

[Footnote 2: The American Association for Labor Legislation has issued
a pamphlet describing these features more in detail.]

[Footnote 3: Thirteen states had, in 1916, state insurance funds,
and, in five states (Oregon, Nevada, Washington, West Virginia, and
Wyoming), they are the only insurance agencies allowed.]

[Footnote 4: Ch. 22, secs. 14-18.]

[Footnote 5: See examples in the lists of laws above cited, sec. 11.]

[Footnote 6: See above, ch. 16, sec. 14.]

CHAPTER 24

POPULATION AND IMMIGRATION

Sec. 1. Nature of the population problem. Sec. 2. Complexity of race problems.
Sec. 3. Economic aspects of the negro problem. Sec. 4. Favorable economic
aspects of early immigration. Sec. 5. Employers' gains from immigration.
Sec. 6. Pressure of immigration upon native wage-workers. Sec. 7.
Abnormal labor conditions resulting from immigration. Sec. 8. Popular
theory of immigrant competition. Sec. 9. Divergent views of effects on
population. Sec. 10. The displacement theory; its fundamental assumption.
Sec. 11. Magnitude of the inflow of immigrants. Sec. 12. Earlier and recent
effects of immigration upon wages. Sec. 13. _Laissez-faire_ policy of
immigration. Sec. 14. Soc