On Thursday, December 29, at 9.30 A. M., a business meeting of the Association, at the Planters Hotel, was called to order by President James. In the absence of Professor Kemmerer, the report of the Managing Editor of the Economic Bulletin was read by Professor F. A. Fetter, as follows: ANNUAL REPORT OF THE MANAGING EDITOR OF THE ECONOMIC BULLETIN FOR THE YEAR 1910. At the last meeting of the Association the special committee, appointed the year before to make report with reference to the Association's publications, recommended that the Bulletin and the Quarterly be merged into a new publication, to be called the American Economic Review, which is to represent an enlargement of the Bulletin, “so changed in character as to be made into a journal similar to that of the Royal Economic Society, with some additional features, including the expansion and increase of the number of abstracts of important articles in the journals of the various languages; a department of personal notes; book reviews, etc. This recommendation of the special committee was adopted by the Association, together with a recommendation that "the present publications be continued until arrangements for issuing the new publication are perfected, but not later than December 31, 1910." (Handbook, 1910, pp. 77-78.) The present Managing Editor presented his resignation to the Association last year. The problem, however, of securing a new editorial staff for the Bulletin to act during the short interim, while plans were being perfected for the new Review, appeared to offer some obstacles, and the present Managing Editor consented under the circumstances to continue his position for another year. The scope of the Bulletin this year, as during the preceding two, has been that laid down by the Association in 1906, when it decided that the Bulletin should be "a professional journal for economic and social students", to contain "signed book reviews, reviews of periodicals, academic notes and news, and reviews and bibliographies of government and statistical publications”—a journal "to be given mainly to bibliography of current literature." (Handbook, 1907, pp. 35 and 39.) An examination of the Bulletin for the year just closing shows the character of its contents to be as follows: Volume III contained 501 printed pages, of which 45 were given to personal and miscellaneous notes, 196 to book reviews, 9 to the annual list of doctoral dissertations in economics, and 242 to bibliographical notes. Viewed by items, a rough count shows that there were 212 personal and miscellaneous notes, including 6 obituary notices; that 115 books were reviewed; that there were 1847 bibliographical notes of books, of which 602, or 32 per cent, were annotated; that there were 1636 bibliographical notes of magazine articles, of which 1126, or 68 per cent, were annotated; and there were 976 notes of book reviews. Aside from the list of doctoral dissertations, the Bulletin for the year contained approximately 4786 separate items. A comparison of the above figures with those of last year (Handbook, 1910, pp. 72-73) shows that there has been a very substantial development of the bibliographical section. For 1910 the biblography contained 242 pages as compared with 148 pages for 1909, representing an increase in space of about 63 per cent; it contained 1728 annotated notes as compared with 925 for the year 1909, representing an increase of 87 per cent. The effort made during the past year to develop and improve this feature of the Bulletin was in response to the opinion so frequently expressed to the Managing Editor by the members of the Association that the bibliographical section was the most useful department of the Bulletin-an opinion which found expression at the last annual meeting in the resolution that in the new Review there should be an "expansion and increase of the number of abstracts of important articles in the journals of the various languages The finances of the Bulletin are in the hands of the SecretaryTreasurer, by whom all the bills, except those incidental to the clerical work of the Managing Editor's office, are paid. These matters doubtless will be covered by his report. For incidental expenses the Bulletin's account for the period December 26, 1909. to December 21, 1910, is as follows: Receipts. January 1, 1910, balance on hand...... January 27, cash received from Secretary-Treasurer. $40 24 100 00 66 66 66 66 100 00 An itemized expense account, together with appropriate vouchers, are at the disposal of the auditing committee. There are several bills still outstanding, and a few additional expenses will be incurred in connection with the preparation of the index of Volume III and the transferring of the existing stock of Bulletins and of certain office supplies to the Secretary-Treasurer and to the Editor of the new Review. Probably the cash on hand will be sufficient to meet these expenses. The Editorial staff of the Bulletin during the year has remained unchanged except for the addition of Professor John Bauer of Cornell University as Assistant to the Managing Editor. The board of twenty-two departmental editors is, therefore, the same at the date of the Bulletin's last issue as it was at the date of its first issue nearly three years ago. Although the board has been large, the members have shown throughout an admirable spirit of coöperation, for which the Managing Editor takes this occasion to express his most hearty appreciation. Special thanks are due to the Assistant to the Managing Editor, Professor Bauer, whose services have been invaluable. The Bulletin wishes to express its gratitude also to the many other members of the Association who have rendered assistance in the furnishing of personal and miscellaneous notes, the writing of book reviews, and particularly the preparing of bibliographical notes on current scientific magazines. The editorial work of the Bulletin, although involving much routine work, has been a pleasant service, and the Managing Editor lays down his duties with the sentiment of Stevenson: "Gladly I lived and gladly die, and I lay me down with a will.” E. W. KEMMERER, December 22, 1910. Managing Editor Economic Bulletin. On motion, the report was accepted and placed on file for audit ing. On motion, it was voted that the thanks of the Association be tendered to Professor Kemmerer for his work as editor of the Bulletin. The following report of the Committee on the American Economic Review was presented by Professor David Kinley: In accordance with the authority conferred upon it, your committee requested Professor Davis R. Dewey to assume the editorship. He kindly consented to do it. Your committee reports further that it has pledges amounting to $1834 per year on the guarantee fund. The committee requests that it be continued until it has secured $2500, or such part thereof as is deemed necessary, and that as soon as this is accomplished that the committee be dissolved. On motion, the report was adopted. On motion, it was voted that the functions of the present Publication Committee be merged with the Editorial Board of the American Economic Review. On motion, it was voted that the Executive Committee be instructed to adopt regulations for the governing of the making of payments from the Treasurer to the American Economic Review, and for the auditing of its accounts. The following resolution was presented by Professor T. S. Adams: "Resolved, that the President appoint a standing committee of five (5), of which he shall be ex officio chairman, upon Census Relations, which committee shall be authorized to confer with the Director of the Census and at his request to appoint sub-committees to advise with the Bureau of the Census upon the scientific aspects of census work." On motion, the resolution was adopted. Voted to request the committee on nominations, together with the Secretary, to bring in a recommendation relating to the filling of the place on the Executive Committee now held by the chairman of the Publication Committee. Adjourned. A business meeting of the Association was held at the Planters Hotel on Thursday, December 29, at 4.30 P. M. The meeting was called to order by President James. Professor Seligman, on behalf of the committee on nominations, presented the following report: For President, Prof. Henry W. Farnam, Yale University. Mr. Frederick N. Judson, St. Louis, Mo., Prof. Joseph French Johnson, New York University, For Secretary and Treasurer, Prof. T. N. Carver, Harvard University. On motion, the report was accepted, and the Secretary was instructed to cast one ballot in favor of the persons nominated. The nominating committee recommended further that the Editorial Board select its own chairman, and that this chairman be a member of the Executive Committee in place of the chairman of the present Publication Committee. Professor Hollander, on behalf of the committee on resolutions, presented the following report: RESOLUTION REPORTED BY THE COMMITTEE ON RESOLUTIONS TO THE AMERICAN ECONOMIC ASSOCIATION. On the even of adjournment, after a meeting marked to a very high degree by profitable intercourse and stimulating contacts, the American Economic Association, desiring to express its appreciation of the hospitality which has distinguished its sojourn in St. Louis, be it Resolved, That the Secretary of the Association be instructed to make formal record in its minutes and to transmit to the hosts of the Association an expression of the obligation and gratitude felt |