DINNER IN HONOR OF PROFESSOR JOHN BATES CLARK 359 
economic and social sciences in this country. They have competed with 
each other in achieving great results; and what does not frequently happen 
to competitors, they each reached the goal of fame and success. Our birth- 
day child, as the continentals call the guest of the day, soon became the 
acknowledged leader of the economists in this county; and his young 
friend and colleague rapidly achieved a similar position among those that 
began to call themselves by the novel name of sociologists. Accordingly, 
gentlemen, I have great pleasure in now presenting to you that codperator 
and that competitor, my beloved colleague, Professor Giddings. 
Professor Franklin H. Giddings 
Mr. Chairman, Professor Clark and Gentlemen: 
It is difficult for me to speak on this occasion because all I have to say 
is so suffused with the feeling born of my personal relations with Pro- 
fessor Clark that it must necessarily seem to you to be of an almost too 
personal character. In the days to which our Chairman has referred and 
when Professor Clark was the occupant of the chair of history and 
economics at Smith College, I was following the craft of the daily news- 
paper man in the neighboring city of Springfield. It was my good fortune 
soon after going there, to make the acquaintance of Professor Clark. The 
acquaintance quickly ripened into a rare intimacy and became one of those 
friendships destined to be lifelong in duration, and of the most helpful 
kind because it was from the first moment a friendship of mutual interest 
in ideas, in work and in ambitions. 
At that time I was presumptuously writing editorials on such topics as 
the tariff and money, labor troubles and the like. My preparation in 
economics had been of a casual sort, consisting .of a somewhat diligent 
reading of the old classical economists and a correspondence with two 
kindly friends, one, David A. Wells, the other Professor Arthur L. Perry 
of Williams College. 
From the moment when I became acquainted with Professor Clark, I 
realized that I was in contact with a mind of a type that I never before 
had met. Professor Clark had worked out his philosophy of wealth, and 
we talked about it and about the various openings into which it seemed 
to lead. I was fascinated by it. I had not before realized the possibilities 
of developing economic theory as Professor Clark had then developed it. 
A thing that greatly interested me was that he clearly regarded this work 
of his not as an achievement, but as a mere beginning of things to which he 
wished to press forward. In our frequent interviews, visits and rides 
together in the beautiful Connecticut valley, we exchanged our notions 
about the changes that were taking place in the industrial world, the 
political world, and the social world, and the interpretation of them all in 
terms of new theoretical formulations which by that time had come to be 
regarded almost as old, accepted and established. 
Professor Clark’s first book, The Philosophy of Wealth, was a rare pro- 
duction in more ways than one. For one thing, it was the work of a master