The Encyclopedia Americana (1920)/Wells, David Ames
WELLS, David Ames, American political
economist: b. Springfield, Mass., 17 June 1828;
d. Norwich, Conn., 5 Nov. 1898. He was graduated
from Williams College in 1847, and from
the Lawrence Scientific School in 1851, but
before entering the latter institution had been
assistant editor of the Springfield Republican,
and was one of the promoters of the invention
of a mechanism for folding books and
newspapers in connection with the printing press.
In 1851 he was appointed assistant professor at
the Lawrence Scientific School, and was also
lecturer on chemistry and physics at Groton
Academy; during this earlier period of his life
he published several textbooks on the natural
sciences. He first attained reputation as a political
economist by an address on “Our Burden
and Our Strength,” read before a literary
society of Troy in 1864; it discussed the resources
of the United States in regard to the nation's
debt-paying ability, and attracted the attention
of the President, who summoned him to a
conference in regard to the national finances. This
resulted in the creation of a commission of three
for the investigation of questions of taxation
and revenue, of which commission Wells was
chairman. In this capacity he was the first to
collect economic and financial statistics for
government use. In 1866 he was appointed to the
office of special commissioner of revenue, was
instrumental in abolishing the many petty taxes
which had been imposed during the war, and
originated most of the important forms and
methods of internal revenue taxation adopted
from 1866 to 1870. In the latter year the office
which he held was abolished. He had at first
been an advocate of the protectionist policy, but
after a visit to Europe and a careful study of
the English system, he changed his views, and
advocated the system of free trade. In 1876
he was an unsuccessful candidate for Congress
on the Democratic ticket. He published “Our
Burden and Our Strength” (1864); “The Creed
of the Free Trader” (1875); “Why We Trade
and How We Trade” (1878); “The Silver
Question or the Dollar of the Fathers vs. the
Dollar of the Sons” (1878); “Our Merchant
Marine; How it Rose, Increased, became Great,
Declined and Decayed” (1882); “A Primer of
Tariff Reform” (1884); “Practical Economics”
(1885); “Relation of Tariff to Wages” (1888);
“Recent Economic Changes” (1898). His writings
are notable for their clear and forcible
presentation of a vast number of details and
statistics.