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BUNGAY, SUFFOLK.

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THE ROYAL ECONOMIC SOCIETY (incorporated by Royal Charter, 1902) was founded, under the name of the BRITISH ECONOMIC ASSOCIATION, at a meeting held at University College, London, on November 20th, 1890, the Right Hon. G. J. Goschen, M.P. (the late Viscount Goschen), in

the Chair.

The Society has for its object the general advancement of economic

knowledge.

The Journal of the Society, published quarterly by Messrs. Macmillan and Co., Ltd., London, and sent post free to Fellows, is intended to represent the various shades of economic opinion, and to be the organ, not of one school of economists, but of all. The Journal numbers among its contributors the leading economists of all countries. Fellows are entitled in addition to the Journal, to copies of sundry other publications issued by the Society from time to time.

Apart from the Annual Meeting a Congress of the Society has been periodically convened for the discussion of social and economic questions and opportunity has thus been afforded for the reunion of Fellows.

By

arrangement with the London School of Economics, Fellows of

the Royal Economic Society may obtain from the Secretary a card entitling them to the use of the valuable library of that institution.

Patron-HIS MAJESTY THE KING.

Council:

THE RIGHT HON. VISCOUNT HALDANE of CLOAN, O.M., F.R.S.,

THE RIGHT HON. THE EARL OF BALFOUR, K.G.,

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President.

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Vice-Presidents.

Dr. T. E. GREGORY.

Mr. R. G. HAWTREY.
Mr. HENRY HIGGS, C.B.
Professor LILIAN KNOWLES.

Mr. W. T. LAYTON, C.H., C.B.E.
Professor D. H. MACGRegor.
Professor H. O. MEREDITH.
Professor J. S. NICHOLSON, F.B. A.
Professor A. C. PIGOU.

Mr. L. L. PRICE (Hon. Secretary).
Professor W. R. SCOTT, Litt. D.,
F.B.A.

Sir H. LLEWELLYN SMITH, G.C.B.
Sir J. C. STAMP, K.B. E., Sc.D.
The Right Hon. SIDNEY WEBB.
Mr. HARTLEY WITHERS.

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Applications for Fellowship should be addressed by letter to the SECRETARY, Royal Economic Society, 9, Adelphi Terrace, London, W.C. 2. The Annual Subscription is a Guinea. Any Fellow may compound for his future yearly payments by a Life Subscription of Ten Guineas. There is at present no entrance fee. Libraries of a public or semi-public character are admitted to subscribing membership on special terms, which can be obtained on application to the Secretary.

Books and Periodicals for Review should be addressed to the Editor, Royal Economic Society, 9, Adelphi Terrace, London, W.C. 2. Editorial Communications should be addressed to J. M. KEYNES, Esq., C.B., King's College, Cambridge.

All communications respecting Advertisements to be sent to
WALTER JUDD, Ltd., 97, Gresham Street, London, E.C. 2

VOLUME XXXIV

ARTICLES:-

PAGE

Armstrong, W. E., Rossel Island Money: A Unique Monetary System 423
Ashley, Prof. Sir William, A Retrospect of Free-trade Doctrine
Bellerby, J. R., The Monetary Policy of the Future

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Bickerdike, C. F., Individual and Social Interests in Relation to Saving 408
Bowley, Prof. A. L., Births and Population in Great Britain .....
Buckley, H., Sir Thomas Gresham and the Foreign Exchanges
Cannan, Prof. E., Limitation of Currency or Limitation of Credit?
Carver, Prof. T. N., The Incidence of Costs
Clay, Prof. H., The Post-War Wages Problem
Copland, Prof. D. B., The Economic Situation in Australia, 1918-23...
Copland, Prof. D. B., Some Problems of Taxation in Australia
Discussion on Monetary Reform at Annual Meeting,-Prof. Cannan,
Mr. R. G. Hawtrey, Sir Charles Addis, Mr. J. M. Keynes, Lord
Milner
Fay, Prof. C. R., The Sale of Corn in the 19th Century
Grant, Miss I. F., The Income from a Scotch Farm in the 18th Century
Guillebaud, C. W., The Economics of the Dawes Report
Heaton, H., An Experiment in the Teaching of Economics
Keynes, J. M., A Comment on Prof. Cannan's Article ...
Keynes, J. M., Alfred Marshall, 1842-1924
Lindsay, A. D., Organisation of Labour in the Army during the War
Richardson, J. H., The Family Allowance System
Robertson, D. H., Those Empty Boxes

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Rowe, J. W. F., Wages in the Cotton Industry, 1914-1920
Tocker, A. H., The Monetary Standards of New Zealand and Australia
Venn, J. A., The Report of the Agricultural Tribunal
Wadia, Prof. P. A., True Basis of Protection for India

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REVIEWS:-

Andréadès, A., La Population Anglaise. By Prof. A. L. Bowley
Angas, L. L. B., Germany and her Debts. By T. E. Gregory
Bellerby, J. R., Control of Credit as a Remedy for Unemployment. By
R. G. Hawtrey
Belloc, H., Economics for Helen. By Helène Reynard

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Berridge, W. A., Cycles of Unemployment in the United States. By Sir
W. Beveridge

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Beveridge, Sir W. H., Insurance for All and Everything. By N. B.

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Blanc, E. T., Co-operative Movement in Russia. By Henry Vivian 463
Bowley, A. L., The Mathematical Groundwork of Economics. By Prof.
F. Y. Edgeworth
Broughton, G. M., Labour in Indian Industries. By Clara E. Collet...
Bücher, K., Beiträge zur Wirtschaftsgeschichte. By Prof. E. Schwied-

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Business Cycles and Unemployment. By Sir W. Beveridge
Campbell, P. C., Chinese Coolie Emigration. By Francis E. Lawley
Cannan, E., Money: its Connexion with Rising and Falling Prices.
By T. E. Gregory

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Cassel, G., The Theory of Social Economy. By H. Phillips
Chen, Ta, Chinese Migrations. By Francis E. Lawley

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Clark, G. N., The Dutch Alliance and the War against French Trade,
1689-1697. By George Edmundson

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Comish, N. H., The Standard of Living. By Helène Reynard

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Dibblee, G. B., The Psychological Theory of Value. By D. H. Robertson 606
Fahlbeck, P. E., Die Klassen und die Gesellschaft. By Prof. E.
Schwiedland
Finer, H., Representative Government and a Parliament of Industry. By
Graham Wallas

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Fisher, Mrs. H. A. L., The Economic Position of the Married Woman.
By Prof. F. Y. Edgeworth
Flux, A. W., Economic Principles (Second Edition). By J. Lemberger 437
French, C. E., The Shop Committee in the United States. By. H. W.
Macrosty
Gide, Charles, Fourier, précurseur de la Coopération. By L. Smith-
Gordon
Hainisch, M., Die Landflucht. By Prof. E. Schwiedland
Hardy, C. O., Risk and Risk-bearing. By D. H. Robertson
Hastings, H. B., Costs and Profits: their Relation to Business Cycles.
By C. F. Bickerdike
Hearnshaw, F. C. J. Democracy and Labour. By L. L. Price
Herkner, H., Die Arbeiterfrage. By Prof. E. Schwiedland
Is Unemployment Inevitable? By N. B. Dearle

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Jones, Eliot, The Trust Problem in the United States. By H. W.
Macrosty
Joseph, H. W. B., The Labour Theory of Value in Karl Marx. By
James Bonar
Kennedy, W. P. M., Edited by, Social and Economic Conditions in
Canada. By Prof. H. E. Egerton

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Keynes, J. M., Monetary Reform. By R. G. Hawtrey.
Kötzschke, R., Allgemeine Wirthschaftsgeschichte des Mittelalters. By
J. H. Clapham
Kuske, B., Die Bedeutung Europas für die Entwicklung der Weltwirt-
schaft. By Prof. E. Schwiedland

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Lavergne, B., Les coopératives de la consommation en France. By L.
Smith-Gordon
Lawrence, F. W. Pethick, The National Debt. By Prof. Edwin Cannan
Lescure, J., Des crises générales et périodiques de surproduction. By
J. I. Craig
Levy, H., Die Vereinigten Staaten von Amerika als Wirtschaftsmachet.
By Prof. J. H. Hollander
Lord, J., Capital and Steam-power, 1750-1800. By T. S. Ashton
Lotz, W., Valutafrage und öffentliche Finanzen in Deutschland. By
T. E. Gregory
Lowenfeld, H., The Birthright of Man.
Maclaren, W. A., Rubber, Tea and Cacao.
Marriott, J. A. R., Economics and Ethics.
Menger, Carl, Grundsätze der Volkswirtschaftslehre. By J. Bonar
Miles, T. B., Industrial Unrest: its Cause and a Suggested Cure. By
J. Lemberger
Moreland, W. H., From Akbar to Aurangzeb. By Sir Theodore Morison
Munro, A. E., Monetary Theory before Adam Smith. By Prof. W. R.
Scott
Nippold, O., The Development of International Law after the World War.
By J. L. Brierly

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By E. Cleveland Stevens...
By E. F. Jacobs

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Nussbaum, F. L., Commercial Policy in the French Revolution. By
Prof. Holland Rose

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Ogata, K., The Co-operative Movement in Japan. By Prof. E.
Schwiedland
Pasvolsky, L., and Moulton, H. G., Russian Debts and Russian Recon-
struction. By L. Alston
Perlman, S., History of Trade Unionism in the United States.
H. W. Macrosty

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