Imagens das páginas

professor. Recent publications of Professor Fuchs not already noticed in the ANNALS include:

“Getreidezölle mit gleitender Skala." Deutsches Wochenblatt, IV, 1891, No. 30.

"Die sozialpolitische Bedeutung der neuen Handelsverträge.” Sozialpolitisches Centralblatt, I, No. 1, 1892.

“England und die Zuckerprämien." Deutsches Wochenblatt, V, 1892, Nos. 1 and 2.

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'Schutzzoll und Fair-Trade in England." Deutsches Wochenblatt, V, 1892, No. 8.

"Politische und handelspolitische Einheitsbestrebungen im britischen Reich." Deutsches Wochenblatt, V, 1892, Nos. 15 and 16. "Der Fall Dankwardt und die preussische Agrarpolitik." Sozialpolitisches Centralblatt, I, 1892, No. 19.

"Letter from Germany." British Economic Journal, 1892.

"Die Handelspolitik Englands und seine Colonien in den letzten Jahrzehnten." Schriften des Vereins für Sozialpolitik, Vol. lvii,

Leipzig, 1893. Pp. x, 358.

In addition to those previously mentioned,* the following students received the degree of Doctor of Philosophy for work in political and social science and allied subjects during the past year:

Columbia College.-Cortlandt Field Bishop, A. B., A. M., LL. B. Thesis: History of Elections in the American Colleges.

William Bondy, A. B., A. M., LL. B. Thesis: The Separation of Governmental Powers.

Isaac A. Hourwich,


Thesis: The Economics of the Russian

S. Whitney Dunscomb, A. B., A. M. Thesis: Bankruptcy, A Study in Comparative Legislation.

W. Z. Ripley, A. M. Thesis: The Financial History of Virginia. Victor S. Rosewater, A. B., A. M. Thesis: Special Assessments. Max West, A. M. Thesis: The Inheritance Tax.

De Pauw University.—Uichiro Sasamori, A. B., B. D. Thesis: Philosophy of History.

University of Pennsylvania.—Edward T. Devine, A. M. Thesis: Economics. Elementary Presentation of the Newer Theories of Production and Consumption.

Emory R. Johnson, B. L. Thesis: Inland Waterways: Their Relation to Transportation.

Ellis Paxson Oberholtzer, Ph. B. America.

* ANNALS, September, 1893, Vol. iv., p. 312.

Thesis: The Referendum in

In addition to those previously mentioned,* the following appointments to fellowships and post-graduate scholarships have been made for the year 1893-94:

Columbia College. Seligman Fellowships in Political Science, R. M. Breckenridge, A. M., and J. E. O'Brien, A. B.; University Fellowship in Comparative Jurisprudence, J. A. McLean, A. B., A. M.; in Economics, Francis Walker, B. S., A. M.; in Finance, G. H. Batchelor, A. M.; in Finance and History, C. E. Chadsey, A. M.; in History, L. G. Bugbee, A. M., and N. R. Shepherd, A. B.; in Social Science, H. C. Emery, A. M., and W. J. Hannah, A. M.

University of Pennsylvania.—Wharton School Fellows, G. M. Fisk, A. B.; David Mandel, Jr., Ph. B.; Lyman P. Powell, A. B., Benjamin F. Shambaugh, B. L., and John L. Stewart, Ph. B.; Fellowship in American History, Clarence Stanley McIntire, Ph. B.

* ANNALS, September, 1893, Vol. iv., p. 314.

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American Marine. The Shipping Question in History and Politics. By WILLIAM W. BATES. PP. 479. Boston and New York. Houghton, Mifflin & Co., 1893.

Any book that will set the American people to pondering on the loss of their commercial power on the high seas is deserving of welcome. Mr. Bates has written such a book and it is a pity that he has unnecessarily marred its effectiveness by a vehemence of statement that often puts his facts and logic under suspicion. He was evidently wrought up when he began to write the book, and the more he wrote about the indignities put upon American shipping, the more his indignation grew. Yet, despite his vehemence, sometimes descending to puerilities, despite repetitions, omissions and lack of orderly arrangement, his book is the fullest and best treatise upon its important subject that has been published. It is a protectionist's argument for protection by subsidy and bounty to American shipbuilding and ship-owning, and that fact is so patent that the argument will have, it may be feared, less than its proper weight with many readers. A clear, cool statement of the facts that the author had at his command, without any denunciation of stupid statesmen and wicked foreigners, would have stirred the indignation of any reader, whether free trader or protectionist, and so accomplished the result which Mr. Bates has evidently aimed at. Inasmuch as the work by David A. Wells on the same subject, published in 1882, although lucid, compact and well ordered, is mainly an advocate's plea for free trade, vitiated by undisguised contempt for any form of subvention, it is evident that the book on American shipping to which the impartial student can refer with confidence has yet to be written.

The value of Mr. Bates' book is at the same time one of its weaknesses, namely: its attention to details. He has treated American

shipping from all points of view, excepting the purely objective or scientific, and has crowded his pages with facts, quotations and statistical tables. Hence, although the reader may at times lose his points of compass, there is in the book the necessary material for an intelligent judgment. Mr. Bates is a practical expert in his subject. He was commissioner of navigation under President Harrison, and says that for fifty years he has been "a student of ships and navigation." He begins by discussing the importance to a nation of a prosperous marine. He then gives twenty pages to the evolution of British maritime power and 100 pages to a sketch of the shipping of the United States from 1789 to 1892. These are the important parts of the book, all that follows being iterative or explanatory. The decline of the American marine, he contends, was due primarily and principally to the change from the protective to the free-shipping policy in 1815. Prior to that year carriage in American bottoms had been encouraged by partial rebate of duties on their freight. The act of 1815, which lifted all burdens from British vessels in American ports, was passed, according to Mr. Bates, solely to please England and gain a treaty of peace with her. In the similar acts of 1817, 1824 and 1828 he finds the successful culmination of the British conspiracy to drive the Yankee flag from the seas. He has, however, a great respect for the American ship-builder and sailor, and seems to admit that but for other aids the British conspiracy might have failed, for he devotes considerable space to explaining how the British Lloyd's Register Society, by its discriminations against wooden and American bottoms, compelled merchants either to patronize British ships or to send their cargoes to sea uninsured. He denounces vigorously the bonded warehouse act of 1846 as virtually an extension of credit to foreigners to enable them more quickly to annihilate an American industry. England's policy of subvention, under which the Cunarders received from $400,000 to $800,000 a year, beginning with 1839, paralyzed competition, although the success of the Collins line, which received from the American Government an equal subsidy from 1850 till 1858, demonstrated that the policy might have been effectively employed in retaliation. The continued decline of our shipping interests since 1860, during a period of high protective tariff, Mr. Bates accounts for simply on the ground that those interests were not sheltered under the wing of protection. All the other industries of the country were safe against the assaults of British capital and labor; the ship-owner alone was defenceless. Mr. Bates brings to the support of his views an abundance of facts and figures, many of which an opponent cannot lightly put aside as irrelevant or coincident. A reply to his book, if there is to be a reply, ought to come from a protectionist

rather than from a free-trader like Mr. Wells, for Mr. Bates and Mr. Wells, while agreeing often in their conclusions, start out from different premises, and argument between them would be quite futile. A believer in protection for American industries will meet Mr. Bates on common ground, and he alone, if anyone, can show why that protection, which has been accorded capital employed on the land, should not have been given with equal generosity to capital on the sea.

It is to be regretted that Mr. Bates does not make more prominent the petty and abominable abuses and annoyances for which the blundering Acts of Congress are responsible. For instance, restrictions as to residence are imposed upon a native American who owns a vessel; under some circumstances American ships are subject to tonnage taxes from which foreign vessels are exempt; and if an American vessel once falls into a foreigner's possession, whether by sale or capture in war, it can never again be bought back and fly the American flag. Such burdens upon ship-owning cannot be regarded as minor, and there are enough of them to make the business of foreign commerce most vexatious and usually unprofitable.

In the concluding chapters Mr. Bates discusses the various remedies that have been proposed. He advocates the establishment of a department of commerce at Washington, independent of the treasury department, and defends the defeated bounty or tonnage bill of 1890, as being the best measure now practicable.

University of Pennsylvania.


The Growth of English Industry and Commerce in Modern Times. By W. CUNNINGHAM, D. D. Pp. 771. Cambridge: University Press, 1892.

[A sequel to "The Growth of English Industry and Commerce in the Early and Middle Ages," by the same author, 1890.]

There are few men deserving of more honor than he who makes the first practicable road through a new country. It is this task which Professor Cunningham, in the volume under review, has completed for the still only partially explored country of English economic history. Much had been done in the investigation and elucidation of certain periods and certain aspects of that subject by various writers, and Thorold Rogers in his great work had heaped up materials for the study of one of its most important sides during five centuries; but a continuous narrative of the whole course of English economic development from the earliest time to the present has now been given us for the first time. Especially in any field of history is the accomplishment of this particular kind of work of the greatest value for later

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