INDEX

Savings, to be counted as capital, not
income, 108, 134-135, 247-253,
254-255, 328, 349, 353.
Sawmill, income account for, 152-155,
 157, 318-320.
Say, J. B., human beings counted
as wealth by, 5 n.2; use of term
‘“capital’’ by, 60.
Schiffie, A. E. F., treatment of
capital by, 54.
Schmoller, Gustav, on income, 352
353.
Seager, H. R., definition of income
by, 349.
Seligman, cited on utility, 47; use
of term ‘“capital’’ by, 60 n.7.
“Selling short,” 298-300.
Senior, N. W., quoted on definition
of capital, 53; capital itself
regarded as a product by, 55;
on capital as a producer of
wealth, 56.
Services, definition of, 19, 324, 336;
measurement of, 19-20, 120-121;
 complete and partial
rights to, 36-37 ; to be separated
from wealth, property, certificates
 of property, and utility,
38; income conceived as flow
of, 51-52, 101, 116-118, 324;
commodities wrongly combined
with, in concept of income, 105
106; necessity of avoiding confusion
 of anything else with, in
income-concept, 106-107; infinite
 variety of, 119; one phase
of, and disservices termed “interactions,”
 144; transformations
 of wealth as, 146; method
of couples applied to, 152-156;
enjoyable objective (‘“‘consumption’’),
 164, 165, 336; stage of
final objective, 165; subjective,
166; classification of, 178-179.
Short-time loans, 194-195, 198-199,
204.
Simmonds, P. L.,
capital by, 62.
Single taxation, 253-254.
Sinking fund, 243-244, 333.
Smart, William, use of term ‘““capital’’
 by, 60 n.”; definition of

definition of

income by, 348-349.
Smith, Adam, on capital, 53, 54,

425

Social income, the concept of, as “net
product’’ of society, 113-115;
author’s concept of, 114, 118,
141, +333; distinction between
individual income and, 115-116.
Space-units for measuring wealth,
8-9.
Speculation, in real estate, 222, 230;
benefits and evils of, 295-298.
Speculators, use of land deferred
by, 222; position of, considered,
230; risk-meeting function of,
288, 290, 295; in futures, 298-300.

Sprague, C. E., cited on meaning of
term “capital,” 63 n.
Standard deviation, measurement of
extent of variability by, 406-410.

Standard income, 110, 234, 333;
vs. realized, 234-236, 247-253,
327-328, 353.
Stock, economic use of term, 51,
336; chance element in valuing
(in commercial sense), 280-283.
Stock companies, capital accounts
of, 68-70; two valuations in,
70-72.
Stockholders, liability of, in joint
stock companies and in national
banks, 82-83; preferred, 85;
bondholders and, contrasted,
85, 288-289; position of, in
case of bankruptcy, 85-86;
risk-taking function of, 288-289.
Stock jobbing, 74-77.
Stock of wealth, concept of capital
as a, 51-52, 323-324.
Stocks, contrasted with bonds, 85,
288-289; effect of chance on,
276-277.
Stock-watering, 79-80.
Stream of wealth, concept of income
as a, 51-52, 323-324.
Subjective income, definition of,
168, 326 ; points of divergence of,
from objective income, 169-176.
 See Psychic income.
Surplus, 68, 256-257.

T

Taussig, F. W., 318; definition of
income by, 349.

 

56, 58, 61; on rent and income,
150.

 

Taxation: double, 39, 253, 255;
methods of avoiding double,