Page:Indian Journal of Economics Volume 2.djvu/72

 $. JBFoN$ Government of India to show any deduction for a sinking fund after showing for interest and before calculat, ing net profits. In practice such a sinking fund is in existence, because a large part of the net profits which is taken into general revenue is subsequently sHoested to capital expenditure on new works; but the amount is variable. Ltrictly speaking, therefore, direrot revenue (and gross rectifies) should be divided thus: (1) Working expenses, () Interest, (8) Sinking fund, (4) Not profits. 14. Econoniles of Educate.--In a former contribu- tion to this Journal, I considered the question what aims of human activities are to be accepted as the criterion of. progress . The view there elaborated is, briefly, that th.e supreme criterion must be the happiness of the present and future generations--the interest of other peoples' happiness often outweighing one's own, and the desire to confer happiness on future generations 0fen outweighing the desire to experience imnediate enjoyment. All other commonly accepted ends--freedom, self-realization, and racial preservation--appear ultimately to resolve themselves into the greatest happiness of the greatest number, with the partial exception of the last, which involves also an ardent tribal desire to care for the happiness of the immediate descendants of the tribe or nation before that of other men--a universal and primitive instinct. Morality as a motive of actions may be analysed into various customs, rules (duty being a kind of rule) and laws, designed more or less unconsciously and clumsily to attain the greatest happiness of the community. It follows that the aim of education should be two- fold: (1) To give every person with the least expense to  Td Pa .!  ..a,,c 8cbm .fo 8ocZ PSVf, Indian Journal )f Boonomits, VoL I., pp. 181 S18. 8oe espeoilly pp. 199 e . ' s It my seem unsatisfactory to give here a series of dogmatie statemeuts on what. is still s highly oontroversial subject. 8uflioe it to my that I sooept the doctrine of uuvermlbNc Addo,b ss defiued by 8idgwiek iu his MetAods o! EfA.f Iaud find myself in geuersl sszMment with his eouclusious b. by oonstant oboervstiou, I have fou-d %bat the fets of lifo, including the phenomenu of the pud re-ljustmeut of mond stlu i, recent $ss, entird support them.