Liberty is absence of restraint. Freedom is participation in government. - John R. Commons

Other races of immigrants, by contact with our institutions, have been civilized—the negro has only been domesticated.

The boot and shoe makers, either as shoemakers or “cordwainers,” have been the earliest and the most strenuous of American industrialists in their economic struggles. A highly skilled and intelligent class of tradesmen, widely scattered, easily menaced by commercial and industrial changes, they have resorted with determination at each new menace to the refuge of protective organizations.

It would not be incorrect to say that all capital is invisible value, in that it is the present value, not of physical things, but of the hopes of the future aroused through confidence in the now invisible but expected transactions of the future.