WHAT EMANCIPATES
It is an incident of the tendency to realism of our time that historical studies have won in esteem. This is undoubtedly a great gain; but it is attended by a series of affectations such as are apparently inseparable from a new movement. We must have a new code of historical study before the abuses of history can be set aside; nowhere is this need more apparent than in economic history and in the history of social institutions. It is hardly too much to say that the received opinions about the historical development of social forces are all incorrect; that is to say, they are one-sided, imperfect, colored by prejudices of various schools of philosophy, or so stated as to support pet notions of our time. The student of history, therefore, finds himself constantly forced to modify the most currently received statements of fact, or he finds that the historical facts, when correctly understood, take on very different significance even if the formal statement of them is allowed to stand.
No history is good for anything except as it is interpreted correctly; and it is in the interpretation that the chance is offered for all the old arbitrary elements of philosophy and personal prejudice to come in, as well as some new ones peculiar to this field of study. Especially when the interpretations are wide, and step over great periods of history in grand strides, is it safe to say that they are worthless, because it is impossible to verify them. Almost any generalization can find a color of truth, if the historical scope of it is wide enough. It is a very school-boy notion that historical generalizations
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