Excerpt from Modern Economic Tendencies: An Economic History of America IN a work portraying economic evolution from a time genera tions in the past down to the latest practicable moment, in order to form a basis as accurate as possible for predicting the future, it is important to know the date of actual writing. The procession of events during the last six years has altered so drastically, and has transformed so many times, the complexion of public opinion, that words must be interpreted in the light of the date of their utterance. This book was begun in the winter of 1912-13, as soon as the data from the census of 1910 had become available, and some portions remain unchanged since then. On the other hand, some statistical features have been brought down to the fall of 1917, with views in the text to correspond. During 1918 and 1919 the diction of the entire book was revised, and in the latter year the order of chapters was shifted. Occasional foot-notes or paragraphs were added which carry with them evidence of their later date. But, since it was manifestly impossible to bring the entire book into consistency with the viewpoint of these later years, unless it were to be entirely rewritten, care was taken to preserve all of the sentiments of the book in substance as they had been written in 1917 or before. The subdivision of the book into four Parts, namely, Back ground, Economic Principles, Data and Social Reactions, was an afterthought. Each of these four parts comprise references to all four of these topics. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.