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days were devoted to gaining his livelihood as a tutor, and it was only at nights that he could devote himself to his private studies. On obtaining the certificate of maturity for university studies he was entered in 1866 to 1870 as a student successively in the medical, legal and philosophical faculties in the University of Vienna. In 1871 he secured from that university the degree of Doctor of Philosophy, and in 1880 from the University of Tübingen the degree of Doctor of Political Science. In 1881 Dr. Neurath became Privat-dozent in the Technical High School at Vienna, and in 1889 Extraordinary Professor at the Agricultural Institute. His publications have been very numerous, including beside an extensive contribution to the periodical press the following:

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Turgot als physiokratischer Staatsmann." Pp. 30. 1882.

Adam Smith im Lichte der heutigen Staats-und Sozialauffassung." Pp. 48. 1882.

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'Darwinismus und Sozialökonomie." Pp. 77. 1879. "Volkswirthschaftliche und sozialpolitische Essays."


"Die Funktion des Geldes." Pp. 208. 1879.

Pp. 521.

"Grundzüge der Volkswirthschaftslehre." Pp. 337. 1885.

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‘Eigenthum und Gerechtigkeit." Pp. 31. 1884.

"Das Recht auf Arbeit" und "das Sittliche in der Volkswirthschaft." Pp. 58. 1887.

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Moral und Politik." Pp. 25. 1891.

'System er socialen und politischen Oekonomie.” I Heft. Einleitung, Pp. 64.


"Elemente der Volkswirthschaftslehre." (2d revised edition.) Pp. xxvi and 487. 1892.

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'Die wahren Ursachen der Ueberproduktionskrisen sowie der Erwerbs-und Arbeitslosigkeit." Pp. 37. 1892.

"Das Sinken des Zinsfusses, sozialökonomisch gewürdigt." Pp. 54. 1893.


Paris.—Edmond Renaudin, a prominent writer for the Journal des Economistes, died at Paris, November 29, 1893. He was born October 20, 1832, at Paris, and pursued his studies in the Faculty of Letters at Paris. He devoted himself to library work, was secretary to the director of the National Printing Office, 1869-73, was connected with the National Library 1873 to 1876, and from the latter date to his death, with the Ministry of Public Instruction and the Library of St. Genevieve.

Besides collaboration in "l'Annuaire de l'Economie politique et statistique," M. Renaudin published guide books, prepared statistical tables for the Journal des Economistes, and published the bibliographical articles in the Nouveau Journal des Connaissances Utiles, during its ten years' existence. He translated from the Italian "Des finances de l'Italie," 1868.


Naples. The death is announced of Alberto Errera, Professor (incaricato*) of Commercial and Colonial Economy and Statistics at the University of Naples. Professor Errera was born at Venice, April 14, 1842, studied law at the University of Padua, and taught political economy with distinguished success at the Technical Institutes at Venice, Milan and Naples. He was also Professor at the University of Naples. His principal works are as follows:

"Storia e statistica delle Industrie Venete." Venice, 1870. "Tabelle statistiche e documenti."


"Storia dell'Economia politica nei secoli XVII e XVIII negli Stati della Republica Veneta." Venice, 1877.

"L'Italia industriale, con particolare riguardo all' Adriatico superiore." Turin, 1873.

"Le nuove istituzioni economiche nel secola XIX." Milan. "Le Finanze dei grandi comuni." Florence, 1882.

"Elementi di Economia politica."

"Istituzioni industriali popolari."

Milan, 1887.

Turin, 1888.

"Manuale delle piccole industrie." Milan.

"Le operazioni de credito agrario e le cartelle agrarie." Verona, 1889.



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Il Nuovo Codice de Commercio del Regno d'Italia." Florence,

I Magazzini generali, le note di pegno e le fedi di deposito nella storia, nelle consuetudini e nella legislazione." Venice.

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"La Riforma del Credito fondiario.'
"Daniele Manin e Venezia." Florence, 1875.
"Elementi di etica e diritto."



Tokio.-Dr. Adolph von Wenkstern was appointed in August last Extraordinary Professor of Political Economy and Finance at the Imperial University of Tokio, to fill the vacancy caused by the death of Professor Ugo Eggert. Professor von Wenkstern was born October 4, 1862, at Gross-Tippeln in the province of East Prussia. His early * See ANNALS, vol. i., p. 638, for description of this grade.

education was obtained in the gymnasia at Hohenstein in Prussia, and Münster in Westphalia. From 1880 to 1885, he was an officer of the German army. In the latter year he retired and became a tobacco planter on the island of Sumatra. Returning to Germany in 1890, he pursued economic studies at the Universities of Munich, 1890-91, and Berlin 1891-93. At the latter University he secured, July 13, 1893, the degree of Doctor of Philosophy, and was appointed to the professorship at Tokio August 15, entering upon his duties in November last. Professor von Wenkstern has written:

"Le Play," Schmoller's Jahrbuch, 1894.



Die Entstehung der Volkswirthschaft. Six Lectures by Dr. KARL BÜCHER, Ordinary Professor at the University of Leipzig. Tübingen: H. Laupp.


One misses in this volume continuity and coherence, and this in the work of a skilled economist is an undesirable defect. The book consists of a series of lectures given at divers times and in divers manners, though most of them are recent. Neither has Doctor Bücher taken the pains to hide the lecture appearance of his six chapters, but has printed them just as they were originally delivered. The distraction and annoyance caused to a reader when every now and then he comes across phrases and mannerisms that remind him that what he reads was not meant to be printed, but to be spoken in public, are a standing grievance; and it must be allowed that those who hold decided opinions on the subject of literary purity are justified in giving voice to their complaint. The defects pointed out are the more to be regretted since they were not unavoidable, and since this book contains several essays of real importance. The pieces deal respectively with (1) the origin of political economy; (2) the systems of industry according to their historical development; (3) the division of labor and the formation of social classes; (4) the beginnings of the newspaper press; (5) the social relationship of the population of Frankfort in the Middle Ages, and finally (6) internal migrations of population and the growth of towns, considered historically.

The chapters of greatest value are decidedly the first three. Doctor Bücher's position appears to be midway between the historical school as represented by Roscher and the State Socialistic school as represented by Adolf Wagner and Schäffle, though it is seldom that he clearly betrays his own relationship to the economic and social controversies which have agitated his country for nearly a generation. It is when he deals with the evolution of economic institutions and of economic science that Doctor Bücher is seen at his strongest and best. Thus, in the first chapter he gives us a good review of the development of the family and the State, the rise of towns, and the organization of agriculture, industry, trade and credit, as well as of modes of communication, personal and epistolary. More thorough, however, is his treatment in the following chapter of the development of industry from the life

of the primitive hunter, shepherd and fisher onward. Differing somewhat from some of his predecessors, he proposes the following sequence (1) Production for Home Use (Hausfleiss), in which the members of a family, principally the wife and daughters, weave, spin and sew for domestic consumption the raw materials which the male members produce; (2) Paid Labor (Lohnarbeit), where the laborer prepares the material delivered to him in his house or workshop; (3) Handicraft (Handwerk), where the laborer possesses both his own tools and materials and works independently, selling his goods when finished; (4) the House Industry, as commonly understood, though Doctor Bücher prefers the term "Commission System" (Verlagssystem), where the raw materials are supplied for manufacture, and sometimes also the machinery and tools required; and, finally, (5) the Factory System, where we have to do with production on a large scale, known in Germany as die grosse Industrie, and with great aggregations of capital. Doctor Bücher takes a perfectly impartial position, yet he does not omit to notice the effect of this development upon the liberty, independence and material condition of the laborer at various periods. At the same time he objects to the view that any one mode of production can claim to be regarded as the natural and only ideal one, and especially warns his countrymen-and the warning is not unnecessary -against believing that the salvation of the working classes is to be found by either the expansion or the discouragement by artificial means of any of the foregoing methods. He holds, on the contrary, that endeavor should be made to maintain the merits and advantages which every historical system possesses, and to remove their defects and disadvantages. "For," he wisely adds, "this is the comforting result of every serious consideration of history: that no single element of culture which has once been introduced into the life of men can be lost, but rather that each and every one, even when the hour of its predominance has expired, continues in some modest degree to cooperate in realizing the great end in which we all believe, viz., the helping of mankind toward ever-improving forms of existence."

In reading this thoughtful work one may now and then feel that our author tends to become too dogmatic, as, for instance, when he tells us, as though it were the last word upon the subject, that exchange is so far from being a human instinct that antagonism to it is always peculiar to undeveloped peoples. Likewise in his careful investigation into the division of labor and the formation of classes. Doctor Bücher becomes as arbitrary in his objection to Schmoller's theory of the inheritance of personal characteristics as Schmoller him. self is on the affirmative side. He considers Schmoller's theory as the proclamation of "a social philosophy of Beati possidentes,” and adds:

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