The previous post provided transcriptions of the 1875 examinations at the University of Toronto in political economy. The 1876 examinations transcribed below include two additional examinations dedicated to Adam Smith’s Wealth of Nations.
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Other Toronto examinations in political economy
University of Toronto, Annual Examinations for 1858.
University of Toronto, Annual Examinations for 1875.
University of Toronto, Annual Examinations for 1891.
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University of Toronto
Annual Examinations: 1876
Second Year.
ROGERS’S POLITICAL ECONOMY.
Examiners: Thomas Hodgins, M.A., LL.B. [and] W. P. R. Street, LL.B.
- What is the true definition of rent? Does this definition apply equally to land in country and city? State generally the causes which will increase and diminish rent.
- What is the measure of the price in England of any kind of foreign produce? Give an illustration of this.
- When the imports of a country exceeds its exports, what advantage or disadvantage to the country is thereby indicated? Illustrate your answer by one or two imaginary commercial transactions between merchants in two countries.
- Mention some of the causes giving rise to an efflux of specie. Can you suggest a case in which such an efflux would not be checked by a rise in the rate of discount?
- Explain the constituent parts of wages, and state the causes which determine their amount.
Source: University of Toronto. Examination Papers for 1876.
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University of Toronto
Annual Examinations: 1876
Second Year.
ROGERS’S POLITICAL ECONOMY
Honors
Examiner: Thomas Hodgins, M.A., LL.B. [and] W. P. R. Street, LL.B.
- What are the economical grounds upon which a government is justified in insisting upon the education of the young, and in levying a tax for educational purposes?
- Illustrate, by reference to the past history of England, the alteration that has taken place during the last five centuries in the theory of the functions of government.
- When a tax is imposed on an export, in what cases may it be paid by the consuming country? What is the effect upon the trade in the article taxed in the exporting country where the tax is not paid by the consuming country?
- A certain article of commerce, of which there are several grades having different values, becomes suddenly scarce: are all the grades affected equally as to price? Explain your answer fully.
- Shew the fallacy of the statement that inferior lands have been occupied and cultivated as population has increased.
- Explain the meaning of the assertion that values are relative to each other. What circumstances are necessary to give value to any object of commerce?
Source: University of Toronto. Examination Papers for 1876.
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University of Toronto
Annual Examinations: 1876
Third Year.
POLITICAL ECONOMY
Pass
Examiner: W. J. Robertson, B.A.
ROGERS.
- (a) Investigate the relation between labor and wages, so as to discover the causes of high and low wages.
(b) Explain and criticize the Malthusian theory of population. - (a) Give an account of the principal restrictions on occupations as exhibited in the commercial history of England.
(b) Examine various methods adopted to regulate the rate of wages, and shew their economic effects. - “There is not a shadow of evidence in support of the statement that inferior lands have been occupied and cultivated as population increases.” What theory is here referred to? What is Rogers’ theory of rent?
- In the long run the price of commodities depends, as we have several times seen, on the cost of production.” Fully explain this statement. What modification does it admit of?
- (a) “The fact is, as demand, to be effectual, must be accompanied by the power of exchange; so supply, to be effectual must be accompanied by the power to produce.” Develop a line of argument in support of this statement.
(b) Shew the effect of increasing the price of manufactured or imported articles, the price of the productions of the earth given in exchange remaining fixed. - Assign limits to governmental interference with the free course of trade.
- Discuss the advantages and disadvantages of indirect taxation.
Source: University of Toronto. Examination Papers for 1876.
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University of Toronto
Annual Examinations: 1876
Third Year.
SMITH’S WEALTH OF NATIONS
Examiners: Thomas Hodgins, M.A., LL.B. [and] W. P. R. Street, LL.B.
- Shew how the accumulation of stock leads to the improvement in the productive powers of labour.
- Expain the two different ways in which a capital may be employed so as to yield a revenue or profit to its employer.
- Does the money of any Society form a portion of its gross, or its neat revenue, or of either, or both? Explain fully.
- Explain shortly the advantages gained by the substitution of paper for gold or silver money.
- What is meant by the “balance of trade”? Explain the fallacy upon which was founded the supposition, that a favourable balance of trade was necessary to the prosperity of a country.
- What are drawbacks? What was their object under the mercantile system, and in what cases, if any, does the author think them reasonable, and in what cases unreasonable?
Source: University of Toronto. Examination Papers for 1876.
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University of Toronto
Annual Examinations: 1876
Third Year.
SMITH’S WEALTH OF NATIONS
Honors.
Examiners: Thomas Hodgins, M.A., LL.B. [and] W. P. R. Street, LL.B.
- Distinguish the gross, from the neat, revenue of all the inhabitants of a country; and describe what each is composed of.
- “What is annually saved, is as regularly consumed as what is annually spent, and nearly in the same time too, but it is consumed by a different set of people”.
How does the author proceed to shew this? - Explain the different ways in which a nation may purchase the pay and provisions of an army in a distant country.
- How does the author expose the fallacy of the theory entertained by Mr. Locke, Mr. Law, and others, that the increase of the quantity of gold and silver, after the discovery of the Spanish West Indies, was the real cause of the lowering of the rate of interest in Europe?
- Shew how it is, that the study of his own advantage necessarily leads each individual member of a Society, to prefer that employment of his capital which is most advantageous to the Society.
Source: University of Toronto. Examination Papers for 1876.
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University of Toronto
Annual Examinations: 1876
Third Year.
POLITICAL ECONOMY.
Honors
Examiner: W. J. Robertson, B.A.
MILL I.
- Explain what is meant by the mercantile system. Assign causes for the errors involved therein.
- (a) Mention and illustrate by examples, the different kinds of indirect labor employed in production.
(b) Distinguish between materials and implements. - (a) “Yet in disregard of a fact so evident, it long continued to be believed that laws and governments without creating capital, could create industry.” Fully explain. What exception does Mill admit to the general rule he lays down?
(b) Examine whether the unproductive expenditure of the rich is necessary to the employment of the poor. - Distinguish between circulating and fixed capital. Show the effect of increasing the latter at the expense of the former.
- Give the substance of Mill’s remarks on the degree of productiveness of productive agents.
- Compare the advantages of production on a large and on a small scale, including in your discussion the relative advantages of large and small farming.
- Give and illustrate the law of increase of production from land.
Source: University of Toronto. Examination Papers for 1876.
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University of Toronto
Annual Examinations: 1876
Candidates for B.A.
CIVIL POLITY.
Examiner: Rev. George Paxton Young, M.A.
COX’S BRITISH COMMONWEALTH.
SMITH’S WEALTH OF NATIONS.
- Define the duties of Government.
- Where does the right of taxation lie? Give historical illustrations.
- Discuss the question, whether a representative in Parliament ought to be the chosen advocate of particular classes or interests.
- “The law does not allow any man, however great his property, to give more than one vote to one candidate.” —Is this law based on correct principles?
- What distinctions are there between the pleadings in equity and at common law?
- What are the principles on which International Executive Government is established?
- Point out the reciprocal obligations of a Supreme State and its Colonies.
- What principle give occasion to the division of labour? To what limitation is the division of labour subject? Illustrate.
- Discuss the subject of the wages of labour.
- Inquire into the policy of restraints upon the importation from foreign countries of such goods as can be produced at home.
Source: University of Toronto. Examination Papers for 1876.
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University of Toronto
Annual Examinations: 1876
Candidates for B.A.
POLITICAL ECONOMY.
Honors
Examiner: W. J. Robertson, B.A.
MILL
- (a) Discuss the nature of wealth, giving different views. What conclusion does Mill come to? Give his reasoning.
(b) Discuss after Mill the nature of productive labour. - How does Mill answer the question, “What is Capital?” State the fundamental propositions respecting capital; and examine the effect of government loans for unproductive expenditure.
- Inquire into the effect of increasing the cost of the raw material of manufactures; and show whether the increased cost of food affects prices or not.
- Give, with illustrations, the equation of International Demand.
- Give the substance of the chapter “Of Excess of Supply.”
- Trade the influence of credit on prices, and inquire into its effects on the general prosperity of a community.
- Give different theories of the cause of rent. Criticise Mill’s statement of it, showing how he differs from American economists.
- What are the principles of the Theory of Value?
(a) Give Mill’s summary.
(b) Some political economists assign as the cause of value, desire for an object—values being regulated by the strength of the desire. Carefully examine this view. - What different remedies have been offered and tried for low wages? State your own views on the principal cause of low wages; also, state the most effectual remedies.
- (a) Examine how far paternal government would be economically beneficial.
(b) Give illustrations of how governments may undertake commercial enterprises for the benefit of the nation, which otherwise could be carried out by private companies. - Discuss, from an independent stand point, the advantages and disadvantages of incidental protection.
Source: University of Toronto. Examination Papers for 1876.
Image Source: Knox College. University of Toronto Libraries / Heritage U of T / U of T Chronology. (archived copy at the Wayback Machine)