3 1 924 054 511 351 Cornell University Library The original of this book is in the Cornell University Library. There are no known copyright restrictions in the United States on the use of the text. http://www.archive.org/details/cu31924054511351 APPRENTICESHIP IN AMERICAN TRADE UNIONS SERIES XXV NOS. 11-12 JOHNS HOPKINS UNIVERSITY STUDIES IN Historical and Political Science (Edited by H. B. Adams, 1882-1901) J. M. VINCENT J. H. HOLLANDER W. W. WILLOUGHBY Editors APPRENTICESHIP IN AMERICAN TRADE UNIONS BY JAMES M. MOTLEY, Ph.D. ••1 Assistant Professor of Economics in Leland Stanford Jr. University. PROP ERTY OF LIBPARY NEW YORK STATE SCHOOL INDUSTRIAL ADO LACOR BE! ATIOMS CORNELL UNIVERSITY BALTIMORE THE JOHNS HOPKINS PRESS PUBLISHED MONTHLY November-December, 1907 Copyright 1907 by THE JOHNS HOPKINS PRESS Press op The New Era printing company Lancaster, Pa. PREFACE This monograph is one of a series of investigations into various phases of American trade unionism undertaken by the Economic Seminary of the Johns Hopkins University. In addition to the large collection of trade-union publications now in the Johns Hopkins University, the author had access to materials at the national headquarters of many of the more important American trade unions. The documentary information thus secured has been supplemented and cor- rected by personal observation and by interviews with labor leaders and employers in the chief centers of industry in the United States. The author desires to acknowledge the assistance received in every part of the work from Professor Jacob H. Hollander and Associate Professor George E. Barnett. J. M. M. TABLE OF CONTENTS. Introduction 9 PART I. Historical. Chapter I. Governmental Regulation of Apprenticeship.. 12 Chapter II. Customary Apprenticeship Rules. . ., 18 Chapter III. Trade-Union Regulation of Apprenticeship. . 31 Chapter IV. Apprenticeship Determined by Trade Agree- ment 4 2 PART II. Descriptive. Chapter I. Extent of Present Union Apprenticeship Regulations S3 Chapter II. Apprenticeship Regulation and its Purpose.. 66 Chapter III. Character of Apprenticeship Regulations 75 Chapter IV. Estimate of Union Apprenticeship Rules 100 APPRENTICESHIP IN AMERICAN TRADE UNIONS. INTRODUCTION. From the beginning of industrial development in the United States to the present time apprenticeship regulations have been successively determined by four different methods : / (a) In the colonial and early state period, apprenticeship was regulated by statute law or indenture. Every master, journeyman or other person receiving an apprentice was to conform to the requirements of the law of indenture of the state in which he resided. The apprentice boy was likewise bound under oath to fulfill his part of the contract. This contract was agreed to and signed in the presence of a magistrate. Although effective during certain periods of its existence, the legal indenture became offensive to the apprentice and unsuited to the changed conditions of indus- trial life, and was finally abandoned. (b) Coexistent with the law of indenture, and doubtless in some of the older industries preceding it, each trade developed certain customary rules governing apprentice- ship. These practices were effective in many communities, and in fact were observed throughout entire trades. Still, at a later date, when the means of communication and travel fostered a more severe competition, employers did not hesitate to break any customary or unwritten regulations observed by the journeymen and to substitute their own rules governing apprenticeship. (c) Before the rapid development of the different indus- tries and the growth of trade unionism, while individual bargaining was still the method used by the employees in dealing with their employers, the journeymen realized the weakness of the indenture and of customary rules as ade- 9 io Introduction [49 2 quate methods for regulating apprenticeship. Moreover, the large number of boys received by some employers tended to reduce the wages of the journeymen. To elim- inate this and other evils, the employee undertook, through his trade union, to determine all regulations governing apprenticeship. During the early stage of unionism, each local union ad- justed its apprenticeship rules according to its immediate environment. This practically precluded complete unifor- mity among the locals throughout each trade. When pos- sible, the union limited the number of apprentices received. Later, the international unions in some well-organized in- dustries assumed control of apprenticeship regulations throughout the entire trade, and made them uniform. The union was impelled to take this step, in the first place, be- cause, as competition developed between employers in dif- ferent parts of the country, the advantage obtained by an employer who secured extra apprentices at a reduced wage was keenly felt by such of his competitors as were unable to secure this privilege. In the second place, since the market for labor had become national, the journeymen of a trade in all parts of the country were interested in limiting the large number of apprentices received in certain shops. The employers never conceded the claims of the unions to determine all apprenticeship regulations, especially the right to place a restriction upon the number permitted, and op- posed attempts to enforce such limitation. A bitter strug- gle followed. When the union was strongly organized, its regulations prevailed; when weakly organized, the employ- ers put to work in their non-union shops as many boys as they desired. Moreover, neither party felt especially con- cerned to demand thorough training for the apprentice. (d) Finally, as the growth of trade unions and the devel- opment of employers' associations has continued, in some trades practically all disputed questions, including those re- lating to apprenticeship, have come to be submitted to a joint board for settlement. With the more general recognition 493] Introduction 1 1 and acceptance of the principles of conciliation, apprentice- ship regulations are in many cases mutually determined in this manner and heartier cooperation is secured in enforcing them. In the following study, the four methods of securing apprenticeship regulations, above mentioned, will be consid- ered; the causes leading to the failure of one and the sub- stitution of another and the conditions of the apprentice under each will be pointed out ; the extent of apprenticeship rules in trade unions of the present day will be noted; and the purpose and scope of such rules will be discussed. Since this study is primarily concerned with apprenticeship and trade unions, only a brief statement of the law of indenture seems necessary. The previous training of foreign jour- neymen engaged in this country and the customary rules gradually ■ developed to meet the peculiar native environ- ment influenced materially the apprenticeship regulations of the early trade unions. A brief study of these influences enables us the better to follow and appreciate later union apprenticeship regulations. It should be noted, however, that, while different methodi for determining apprenticeship regulations were used, no precise period other than the general historical sequence fol- lowing the change of industry can be assigned for each. For example, the old indenture laws have not been entirely removed from the statute books. Again, in many small or unorganized shops, customary apprenticeship rules are ob- served at the present time ; and, even though conciliation has proved to be the'most satisfactory method for enacting and enforcing these regulations, as a matter of fact they are determined in many cases exclusively by the local or inter- national union. PART I. HISTORICAL. CHAPTER I. Governmental Regulation of Apprenticeship. r The underlying purpose of early apprenticeship laws in the United States was twofold, ( 590. Mclhvraith, quoted, 285. McKinley, Wm., and Porto Rican trade duties, 13. Madison, James, on Jay treaty, 93- Maine, Sir Henry, quoted, 320. Malta, Knights of, ask land in U. S., 88. Maryland Canal Company, Maryland's aid to, 437-439. 443- Maryland during the English Civil Wars. Pt. II. (Stein- ex), 155-268; relations with other colonies, 156, 169; with Indians, 156-157, 167- 172, 227, 244; deeds, suits, etc., 158-166, 177-182, 188- 192, 194, 196, 198, 210-21 1, 214, 215 (note), 217-219, 221-224, 229-231, 238-251 ; Jesuits in, 175-176, 205- 206; Ingle's rebellion, 182- 188, 198-210, 2i/« ; regarding laws, 192-193. 214, 228-229, 253; Assemblies, 197, 213, 214, 215-216, 231-240, 256- 268; Conditions of Planta- tion, 254-255 ; religious tol- eration, 255-256, 264-268. Maryland, financial history of, 1789-1848 (Hanna) ; during Revolution, 359-372 ; treas- ury confusion after war, 370-372; period of surplus financiering, 373-393 ; of in- direct taxation, 394-419; in- ternal improvements and the state debt, 420-454; suspen- sion of interest payments (1841-1848), 455-475; tables of receipts, expenditures, etc., 478-481. See also Table of Contents, 355. Mason, S. T., on Jay treaty, 93. Merchants in Md., tax on (1820-1832), 398-400. Merlin, M., 83. Metal Polishers, Buffers, Platers, Brass Molders, Brass and Silver Workers' Interna- tional Union, apprentice regulations in, 575-576. Mining concessions in Philip- pines, tax on, 30, 42. Mint tax in Philippines, 9-10. Mississippi, navigation of, and Monroe's negotiation, 69-73, 82-86. Von Mohl, quoted, 288. Monarchomachen, regarding the state, 300-301. Monroe, Jas., appointed minister to France, 56; instructions, 58-60; received in France and exceeds instructions, 61-62, 66; negotiates com- mercial regulations, 66-69 j and navigation of Missis- sippi and southern boundary of U. S., 69-73, 82-86; rela- tions with Paine, 73, 133, !34, 135-136; and U. S. con- sular service in France, 73; and Gouverneur Morris, 74; gives American flag to French Convention, 74-75 ; troubles with France over Jay treaty, 76-82, 103-110, 1 15-126; treaty with Algiers (i795), 87-88, 111-114; on Jay treaty, 90-101, 146- 147 ; protects Americans in France, 114; recalled, 121- 126; asks reason for recall, 127-128; unofficial explana- tions, 128-133 ; accusations of R. G. Harper and others, 132-133. 137; defense, 133- 137; his View, 137-139. 142- 146; Washington's criticism of the View, 139-142; other criticisms, 142-145. See also Table of Contents, 53. Monroe Mission to France, 1794-1796 (Bond), see Jas. Monroe. 6oiJ Index. 119 Moore, J. B., quoted, 289-290, 319. Morris, Gouverneur, recalled as minister to France, 55; asks passport from Monroe, 74. Moser, quoted, 320. Motley, James M., "Apprentice- ship in American Trade Unions," 491-593. Musicians, American Federation of, no apprentice system in, 540. Nation, nature of a, 333-342. Nations, classification of, 345- 348. Neale, James, 15s, 158, 174-176, 192, 253. Negro, free, colonization of by Md. (1826-1852), 413-415. Neutralized state, definition of, 347- Note-brokers in Md., tax on (1819), 402. Occupation taxes in Philippines, 31, 33, 42. Officers' commissions in Md., tax on (1844), 465. Officers' fees, in Md., tax on (1824-1844), 406-407, 462. Opium in Philippines, Spanish government control of, 9; revenue from, 10. Oppenheim, quoted, 286. Paine, Thomas, and Monroe, 73, . 133, 134, 135-136. Painters, Decorators and Paper- hangers, Brotherhood of, apprentice regulations in, 568, 573 (note), 581. Pattern-making industry, ap- prentice system in, 543. Peddlers, in Md., tax on (1777- 1840), 401. Pelet, M., 84, 86. Pen and Pocketknife Grinders' and Finishers' National Union of America, character of apprentice regulations in, 560. Penitentiary in Md. (1805), 392- 393, 4i6. People, nature of a, 318-319, 339-341- Personal union, definition of, 347- Philippine Commission, and in- ternal taxation, 11-17. 19- . ?4- . Philippines, internal taxation in (Hord), 7-45; Spanish sys- tem, 7-10; American sys- tem, 10-24; American tax rates, 25-31 ; exemptions, 31- 33 ; use of revenues, 33, 42 ; bureau of internal revenue, 33-36, 41 ; opposition to taxation, 37-40; amount col- lected, 42 ; cost of collec- tion and refunds, 42-43; ad- vantage of American free trade, 43-45 ; bibliography, 45- Phillimore, Sir Robert, quoted, 315- Piano and Organ Workers' In- ternational Union, apprentice regulations of, 565. Pickering, Timothy, and Monroe mission, 100, 104, 109-110, 118-121, 127-129, 144. Pinckney, Chas. C., 121, 124, 125. Pinckney, Thos., 86, 98. Plantagenet, Beauchamp, quoted, 168-169, 206 (note), 211 (note). Plumbers' Associations, Master, set probation period for ap- prentices, 561. Plumbers, United Association of Journeymen, apprenticeship regulation by, 550 (note) ; restricts number of appren- tices and helpers, 556; char- acter of apprentice regula- tions in, 564, 573 (note), 577- Poll-tax, in Philippines, 7-1 1, 28, 42; in Md., prohibited by Bill of Rights, 377. Port duties in Md. (1776-1789), 361, 362, 371, 373. Porto Rico, internal taxation in, 13-14. Potomac Company, of Md. and Va., history of, 427. Print-cutting industry, appren- tice system in, 544. Printing trade, apprentices in, 120 Index. [602 before formation of unions, 500, 501-502, 506-508, 509- 510; after formation of unions, 513-515. 551 ; char- acter of apprentice regula- tions in, 572, 574; effect on apprenticeship of invention of machinery, 583-584. See also Typographical Associa- tions, etc. Probation in apprenticeship in American trade unions, 561. Property tax in Md. (1776- 1848), 362-366, 371, 377, 455-458; difficulty of col- lection of (1841-1846), 466- 469. Protected state, definition of, 347-348. Protests in Md., tax on (1842), 465- Public exhibitions in Md., tax on (1841), 464. Public schools in Md., state aid to (1723-1839). 385, 391, 411, 417-419, 43S (note), 453-454- Railway unions, no apprentice system in, 536-538. Randolph, Edmund J., and the Monroe mission, 58-100, 103. Real estate in Philippines, tax on, 10. Receivers, tax on commissions of, in Md. (1845), 462-463. Religious toleration in Maryland ( 1642-49) , 255-256, 264- 268. Resumption of interest payment on state debt of Md. (1848), 474-475- Revenue of Md. (1776-1848), 360-369, 372-375, 380-386, 389-390, 394-412, 451, 455- 465, 470-471, 478-479- Rivier, A., quoted, 283, 315, 318, 319, 320, 321. Rousseau, on the state, 307-308; on government, 307. Ruttiman, quoted, 289. Salaries in Md. (1790, 1815, 1842), 375 (note) Saw smiths, non-union workers in, 545 (note) ; apprentice regulations of, 578-579. " Scipio," see Uriah Tracy. Semi-sovereignty, nature of, 337. Sidgwick, quoted, 289. Sinking fund of Md. (1784- 1848), 372, 446-449, 481. Sovereignty, historv and nature of, 316-318, 319-321 ; indi- visibility of, 322-332; divisi- bility of, 333-342- Spain and navigation of Missis- sippi and southern boundary of U. S., 69-73, 82-86. Sphere of influence, definition of, 348. Stamp tax in Md. (1845), 464- 465- State in Constitutional and In- ternational Law (Crane), 277-348. State in constitutional law, 292- 310, 322-332; early concept of, 292-294; definition of by Bodin, 295-300; by the Monarchomachen, 300-301 ; by Hobbes, 301-306; by Locke, 306; by Rousseau, 307-308; by modern German writers, 308-310; indivisi- bility of sovereignty in, 322- 332; subjects of, 329-331, 344-345; location of sover- eignty in, 322-323, 324-325; government in, 325 ; law in, 324, 326-327; force in, 326- 329; territory of, 330; de- finition of, 331-332. State in international law, 311- 321, 333-342; discussion of Grotius' views of, 312-313; essential and occasional ele- ments of, 315-321, 333-342; divisibility of sovereignty in, 333-342; people of, 339-341, 345 ; government of, 336 ; in- dependence in, 336-338 ; rights in, 338-339, 34i ," classification of nations, 345-348. Stationary Firemen, Interna- tional Brotherhood of, no apprentice system in, 537. Steel and Copper Plate Printers, International Union of, ap- prentice regulations in, 563. 6o 3 ] Index. 121 Steel range workers, regulation of apprenticeship by inter- national union of, 550. Steiner, Bernard C, " Maryland during the English Civil Wars," Pt. II., 155-268. Stock in Md., tax on (1841- 1848), 458-459- Stone, Wm., 252, 253, 255-268. Stone Cutters' Association, Journeymen, regulation of work by, 549 (note) ; ap- prentice rules of, 550 (note) ; character of regulations, 557, 5S8, 563, 569-570, 572, 574, 577, 578, 579-580 ; effect on apprenticeship of invention of machinery, 583-584. Stove mounters, regulation of apprenticeship by interna- tional union of, 550. Strikes, status of apprentice during, 570. Stubbs, quoted, 286. Subjects (of the state), 329- 330, 344-345- Susquehanna and Patapsco Canal Company, see Tide- water Canal Company. Susquehanna Canal, Maryland's aid to, 426. Suzerainty, definitions of, 283- 287. Taft, Wm. H., and internal tax- ation in Philippines, 13. Taxation in Md. (1776-1848), forms of, 361-366, 374-375. 455-465; declaration of Bill of Rights on, 377-378; ar- rearages in, 381-382; of banking capital, 384-386; in- direct. 394-A19 ; difficulties of collection, 466-469. Taxes in Philippines, Spanish and American, poll tax, 7- 11, 28, 42; on Chinese, 9; on coinage of money, 9-10; on urban property, 9-10; on business houses, 9-1 1, 30-32, 42; on forest products, 9-1 1, 29-30, 42; on real estate, 10; on documents, 10-11, 26-28, 32, 42; on corpora- tions, 23; on inheritances, 23 ; on alcohol, 25 ; on to- bacco, 25-26; on banks, 26, 32, 42; on insurance com- panies, 29, 32, 42; on min- ing concessions, 30, 42 ; on. occupations, 31, 33, 42. Taylor, Hannis, quoted, 283, 319. Taylor, John, on Monroe mis- sion, 142-143. Tazewell, Henry, on Jay treaty, 93 ; on Monroe mission, 123. Territory, relation of, to sover- eignty, 316-318, 329-330; to a nation, 338-340. Textile industry, no apprentice system in, 539. Tidewater Canal Company (Sus- quehanna and Patapsco Canal Company), Mary- land's aid to, 442, 472-473. Tobacco inspection in Md. (1824), assumed by state, Tobacco in Philippines, Spanish government control of ( 1 782-1 883), 9, 12; Ameri- can tax on, 25-26; revenue from, 42. Tracy, Uriah ("Scipio"), and Monroe mission, 143. Trade agreement, regulation of apprenticeship by, 524-534. Trade unions, American, regula- tion of apprentices by, 513- 523 ; no apprentice system in certain, 535-540 ; apprentice system maintained by other, 540-545 ; partial control of apprentice system by, 545- 547; control of apprentice system by local unions, 548- 550; by international unions, 550-552; purposes of con- trol of apprentices by, 553- 556; admission of appren- tices into, 580-581, 586-588. Travelers' Goods and Leather Novelty Workers' Interna- tional Union, age of appren- - ticeship in, 562. Treasury of Md., administration of (1790), 376-378; effect of surplus in (1813), 38o-393- Treaty of 1778, alleged viola- tions of by U. S., 105-110. Tributary state, definition of, 347- 122 Index. [604 Trustees, tax on commissions of, in Md (1845), 462-463. " Two-thirder," in the printing industry, 500, 507-508. Typographia, deutsch-amerikan- ischen, apprentice system in, 544- Typographical Association, Na- tional, regulates term of ap- prenticeship, 518. Typographical Association of New York, on employment of foreign workmen, 501- 502 ; on " two-thirders," 507- 508; on pay for journeymen teaching apprentices, 508. Typographical Society, Balti- more, on apprenticeship, 5I3-5I4. Typographical Society, Colum- bia, on apprenticeship, 513, 514. Typographical Society, Nash- ville, on apprenticeship, 514. Typographical Society, New Or- leans, on apprenticeship, 5I4-5I5- Typographical Society, Philadel- phia, on apprentices, 513. Typographical Union, Inter- national, limits number of apprentices, 515; control of apprentices in certain unions of, 551- Union Manufacturing Company, Maryland's aid to, 428 (note). United States, southern bound- ary of, and Monroe's nego- tiation, 69-73, 82-86; and treaty with Algiers (1795), 87-88, m-114; and Jay treaty, 93-101, 121-122; al- leged violation of treaty of 1778 by, 105-110; surplus revenue distribution (1837), Maryland's share of, 411- 412. Upholsterers' International Union, apprentice cards in, 562. Urban property in Philippines, tax on, 9-10. Van Stophorst loan to Md. (1782), 369, 380. Vassal territory, definition of, 347- Vaughan, Robert, 184, 247, 253, 260, 261. Wages of apprentices in Ameri- can trade unions, 508, 575- 577- Wagon and carriage industry, no apprentice system in, 539- Waitz, quoted, 289. War of 1812, financiering of, in Md., 386-389; payment by U. S. of Maryland's claims for, 410-41 1. Washington, George, and Mon- roe mission, 95, 127, 139-142, J 45- . . Watch case engraving industry, apprentice system in, 545 ; character of apprentice regulations in, 564, 574-575- Wheaton, Henry, quoted, 320. White, Father Andrew, 205. Window glass workers, regula- tion of apprenticeshio by international union of, 550; character of regulations, 557, 558 (and note), 559- 560, 579- Wire weaving industry, appren- tice regulations in, 571. Wolcott, Oliver, and Monroe mission, 131, 144. Woolsey, quoted, 288-289. Working cards of apprentices in American trade unions, 561- 562. Wright, Luke E., and internal taxation in Philippines, 15. JOHNS HOPKINS UNIVERSITY STUDIES IN Historical and Political Science (Edited by H. B. Adams, 1882-1901) J. M. VINCENT J. H. HOLLANDER W. W. WILLOUGHBY Editors VOLUME XXV INTERNATIONAL AND COLONIAL HISTORY BALTIMORE THEJJOHNS HOPKINS PRESS ICP7 Copyright 1907 by THE JOHNS HOPKINS PRESS. MEM OP The Ntw Era printing company Lancavteh, Pa. TABLE OF CONTENTS. PAGE. I. — Internal Taxation in the Philippines. By J. S. Hord. . . I II— III. — The Monroe Mission to France, 1794-1796. By B. W. Bond, Jr 47 IV- V. — Maryland During the English Civil Wars. Part II. By B. C. Steiner 151 VI-VII. — The State in Constitutional and International Law. By R. T. Crane 271 VIII-IX-X. — A Financial History of Maryland, 1789-1848. By H. S. Hanna 349 XI-XII. — Apprenticeship in American Trade Unions. By J. M. Motley 483 JOHNS HOPKINS UNIVERSITY STUDIES IN Historical and Political Science Under the direction of the Departments of History, Political Economy and Political Science TWENTY-SIXTH SERIES, 1908. The University Studies will continue to publish, as heretofore, the results of recent investigations in History, Political Science, and Politi- cal Economy. The new series will present topics of interest in the early political, social and economic history of Europe and the United States. The cost of subscription for the regular Annual Series, com- prising about 600 pages, with index, is $3.00 (foreign postage, 50 cents). Single numbers, or special monographs, at special prices. For the year 1908, the titles given below are now announced; other numbers will follow from time to time. BRITISH COMMITTEES, COMMISSIONS, AND COUNCILS OF TRADE AND PLANTATIONS, 1622-1675. By Charles M. Andrews. QUESTIONS OF INTERNATIONAL LAW INVOLVED IN THE BRITISH- BOER WAR. By R. G. Campbell. DEVELOPMENT OF CONSPIRACY IN ENGLISH LAW. By J. W. Bryan. CONSTITUTIONAL AND POLITICAL CHANGES IN MARYLAND, 1864-1867. By W. S. Myers. BENEFICIARY FEATURES OF AMERICAN TRADE UNIONS. By J. B. Kennedy. THE JOHNS HOP KINS PRESS OF BALTIMORE. American Journal of Mathematics. Frank Morley, Editor. Quarterly. 4to. Volume XXX in progress. $5 per volume. (Foreign post- age fifty cents.) American Chemical Journal. Iba Remsen, Editor. Monthly. 8vo. Vol- ume XXXIX in progress. $5 per year. ( Foreign postage fifty cents. ) American Journal of Philology. B. L. Gildersleeve, Editor. Quarterly. 8vo. Volume XXVIII in progress. $3 per volume. (Foreign post- age fifty cents.) Studies in Historical and Political Science. Monthly. 8vo. Volume XXVI in progress. $3 per volume. (Foreign postage fifty cents.) Johns Hopkins University Circular. Monthly. 8vo. $1 per year. Johns Hopkins Hospital Bulletin. Monthly. 4to. Volume XIX in pro- gress. $2 per year. (Foreign postage fifty cents.) Johns Hopkins Hospital Reports. 4to. Volume XV in progress. $5 per volume. (Foreign postage fifty cents.) Contributions to Assyriology and Semitic Philology. Paul Haupt and Feiedrich Delitzsch, Editors. Volume VI in progiess. Memoirs from the Biological Laboratory. W. K. Brooks, Editor. Volume VI in progress. Modern Language Notes. A. M. Elliott, Editor. Monthly. 4to. Vol- ume XXIII in progress. $1.50 per volume. (Foreign postage twenty five cents.) American Journal of Insanity. Henry M. Hued, Editor. Quarterly. 8vo. Volume LXIV in progress. $5.00 per volume. Terrestrial Magnetism and Atmospheric Electricity. L. A. Bauee, Editor. Quarterly. 8vo. Volume XII in progress. $2.50 per volume. (For- eign postage twenty-five cents.) Reprint of Economic Tracts. J. H. Hollander, Editor. First series, $3.00. Second series, $2.00. Third series in progress, $2.00. Report of the Maryland Geological Survey. Report of the Johns Hopkins University. Presented by the President to the Board of Trutsees. Register of the Johns Hopkins University. Giving the list of officers and students, and stating the regulations, etc. Rowland's Photogeaph of the Nobmal Solab Spectrum. Ten plates. $20. Photographic Reproduction of the Kashmirian Atharva-Veda. M. Bloomfield, Editor. 3 vols. Folio. $50. Poema de Feenan G0N9ALEZ. Edited by C. Carroll Marden. 284 pp. $2.50 net. The Taill of Rauf Coilteae. Edited by William Hand Browne. 164 pp. $1 net. A New Critical Edition of the Hebrew Text of the Old Testament. Paul Haupt, Editor. Prospectus on application. Studies in Honor of Peofessoe Gildersleeve. 527 pp. $6. The Physical Papers of Henry A. Rowland. 716 pp. $7.50. Baltimore Lectures on Molecular Dynamics and the Wave Theory of Light. By Lord Kelvin. 716 pp. $4.50 net. The Oyster. By William K. Brooks. 225 pp. $1 net. Ecclesiastes : A New Metrical Translation. By Paul Haupt. 50 pp. 50 cents. The Book of Nahum: A New Metrical Translation. By Paul Haupt. 53 pp. 50 cents. Ancient Sinope. By David M. Robinson. 112 pp. $1 net. Communications should be addressed to The Johns Hopkins Press. 11 THE Quarterly Journal of Economics Published for Harvard University. Is established for the advancement of knowledge by the full and free dis- cussion of economic questions. The editors assume no responsibility for the views of contributors, beyond a guarantee that they have » good claim to the attention of well-informed readers. Communications for the editors' should be addressed to the Quarterly Journal of Economics, Cambridge, Mass.; business communications and subscriptions ($3.00 a year), to Geo. H. Ellis Co., 272 Congress Street, Boston, Mass. CONTENTS FOR AUGUST, 1907 I. THE TREASURY AND THE BANKS UNDER SEC- RETARY SHAW A. P. Andrew II. THE GROWTH OF THE UNION PACIFIC AND ITS FINANCIAL OPERATIONS Thomas Warner Mitchell III. MODES OF CONSTRUCTING INDEX-NUMBERS . A. W. Flux IV. TAX DISCRIMINATION IN THE PAPER AND PULP INDUSTRY Roswell C. McCrea NOTES AND MEMORANDA: Municipal Ownership of Telephones in Great Britain A. N, Holocombe Industrial Concentration as shown by the Census • William Z, Ripley RECENT PUBLICATIONS UPON ECONOMICS. CONTENTS FOR NOVEMBER, 1907 I. MORTGAGE TAXATION IN WISCONSIN ... T. S. Adams II. THE NATURE OF CAPITAL: A REJOINDER . . E. Bohm-Bawerk. III. THE RENT CONCEPT, NARROWED AND BROAD- ENED Frank T. Carlton IV. AN ILLUSTRATION OF THE CONTINUITY OF THE OPEN FIELD SYSTEM P. Vinogradoff Appendix: Court Roll of an Oxfordshire Manor. V. THE TAXATION OF THE UNEARNED INCREMENT IN GERMANY Robert Brunhuber Appendix: The Cologne Ordinance levying an Increment Tax, VI. THE TEXAS STOCK AND BOND LAW AND ITS ADMINISTRATION E. T. Miller NOTES AND MEMORANDA: Political Economy and Business Economy: Com- ments on Fisher's Capital and Income ... J. R. Commons The Meetings of British and of American Economists F. W. Taussig The Massachusetts Inheritance Tax of 1907 . . !• N. Carver RECENT PUBLICATIONS UPON ECONOMICS. The American Economic Association The publications of the Association were begun in 1886 and have continued to appear in various forms and series. They number twenty-four complete volumes to the close of 1906, and include many of the most important monographs on eco- nomics that have appeared in America. A complete price list will be sent on application to the addresses below. Recent numbers are as follows : THIRD SERIES. Volume IV, 1903. No. 1. Fifteenth Annual Meeting; Papers on Trades Unions (4) ; Railway Regula- tion (2) ; Theory of Wages; Theory of Rent; Oriental Currency Prob- lem; Economics and Social Progress. Pp. 298. Price, $1.25. No. 2. Ethnic Factors in the Population of Boston. By Frederick A. Busheb. Pp. 171. Price, $1.00. No. 3. History of Contract Labor in the Hawaiian Islands. By Katharine Coman. Pp. 74. Price, 75 cents. No. 4. The Income Tax in the Commonwealths of the United States, By Delos O. Kinsman. Pp. 134. Price, $1.00. Volume V, 1904. No. 1, Sixteenth Annual Meeting. Part I. — Papers and Discussions on Southern Agricultural and Industrial Problems (7) ; Social Aspects of Economic Law; Relations between Rent and Interest, Pp. 240. Price, $1.00. Southern Economic Problems. Reprinted from Part I. Price 50 cents. Relations between Rent and Interest. By Prank A. Fetter and others. Reprinted from Part I. Price, 50 cents. No. 2. Sixteenth Annual Meeting. Part II, — Papers and Discussions on the Man- agement of the Surplus Reserve; Theory of Loan Credit in Relation to Corporation Economics; State Taxation of Interstate Commerce; Trusts; Theory of Social Causation, Price, $1.00. Theory of Social Causation. By Franklin II. Giddinps and others. Reprinted from Part II. Price, 50 cents. No. 3. Monopolistic Combinations in the German Coal Industry. By Francis Walker. Price, $1.25. No, 4. The Influence of Farm Machinery on Production and Labor, By Hadlx W. Quaintance. Price, 75 cents. Volume VI, 1905. No. 1. Seventeenth Annual Meeting. Part I. — Presidential Address: Present Position of the Doctrine of Free Trade, F. W. Taussig: The Theory of Money; Papers by J. Laurence Laughlin, David Kinley, A. Piatt Andrew. Discussion. Open Shop or Closed Shop? Papers by John R, Commons, John Graham Brooks, John Hibbard, Thomas Kidd. Dis cussion. Pp. 226. Price, $1.00. No. 2. Seventeenth Annual Meeting, Fart II. — Governmental Interference witl Industrial Combination, E. B. Whitney ; Regulation of Railway Rates, M. A. Knapp ; Taxation of Railways, H. C. Adams and W. A. Baud- win ; Preferential Tariffs and Reciprocity, A. Shortt, G. F. Foster, and A. W. Flux ; Inclosure Movement, E. F. Gray ; Economic History of the United States, C. D. Wright. Pp. 270. Price, $1.00. No. 3. The History and Theory of Shipping Subsidies. By Royal Meeker. Price, $1.00. No. 4, The Factory Legislation in New York State. By Fred R. Fairchild. Price, $1.00. Volume VII, 1906. No. I. Eighteenth Annual Meeting: Papers and Discussions on Theory of Distribu- tion ; Government Regulation of Railway Rates (2) ; Municipal Owner- ship (2); Labor Disputes (2); The Economic Future of the Negro (2). Pp. 325. Price, $1.00. No. 2. Railroad Rate Control. By H. S. Smalley. Pp. 147. Price, $1.00. No. 3. On Collective Phenomena and the Scientific Value of Statistical Data. By Dr. Gryzanovski. Pp. 48. Price, 75 cents. Handbook of the Association, 1906. Pp. 48. Price, 25 cents. No. 4. The Taxation of the Gross Receipts of Railways in Wisconsin. By G B. Snider. Pp. 138. Pilce, $1.00. Address subscriptions, applications for membership, and inquiries to the Secretary of the American Economic Association, Princeton, New Jersey. Address all orders, except subPftpMcne, *o the publishers, Th<- \Iacmillan Co., 66 Fifth Avenue, New York. iv STUDIES IN HISTORY, ECONOMICS AND PUBLIC LAW EDITED BY THE FACULTY OF POLITICAL SCIENCE OF COLUMBIA UNIVERSITY B.ECENT NUMBEB.S. VOLUME XXV, 1906-1907. 600 pp. Price, $4.00. 1. 'Municipal Control of Public Utilities. By Oscar Lewis Pond, Ph.D. Price, $1.00. 2. The Budget in the American Commonwealths. By Eugene B. Aggek, Ph.D. Price, $1.50. 3. The Finances of Cleveland. By Charles C. Williamson, Ph.D. Price, $2.00. VOLUME XXVI, 1907. 559 pp. Price, $3.50. 1. Trade and Currency in Early Oregon. By James H. Gilbert, Ph.D. Price, $1.00. 2. Luther's Table Talk. By Preserved Smith, Ph.D. Price, $1.00. 3. The Tobacco Industry in the United States. By Meter Jacobstein, Ph.D. Price, $1.50. 4. Social Democracy and Population. By Alvan A. Tenney, Ph.D. Price, 75 cents. VOLUME XXVII, 1907. 578 pp. Price, $3.50. 1. The Economic Policy of Robert Walpole. By Norris A. Bbisco, Ph.D. Price, $1.50. 2. The United States Steel Corporation, By Abraham Berglund, Ph.D. Price, $1.50. 3. The Taxation of Corporations in Massachusetts. By Harry G. Friedman, A.B. Price, $1.50. VOLUME XXVIII, 1907. 564 pp. Price, $3.50. 1. DeWitt Clinton and the Origin of the Spoils System in New York. By Howard Lee McBain, Ph.D. Price, $1.50. 2. The Development of the Legislature of Colonial Virginia. By E. I. Miller, Ph.D. Price, $1.50. 3. The Distribution of Ownership, By Joseph Harding Underwood, Ph.D. Price, $1.50. VOLUME XXIX, 1908. 1. Early New England Towns. By Anne Bush MacLear. (J» press.) 2. The Enforcement of the Statutes of Laborers. By Bertha Haven Putnam, Ph.D. (In press.) VOLUME IV, NO. 2. Second Edition, 1908. •The Inheritance Tax. By Max West, Ph.D. Completely revised and enlarged. Price, $2.00. The price for each volume is for the set of monographs in paper. Each volume, as well as the separate monographs marked *, can be supplied in cloth-bound copies for fifty cents additional. The set of twenty-eight volumes (except that Vol. II can be supplied only in un- bound Nos. 2 and 3) is offered bound for $90. Volumes I, III and IV can now be supplied only in connection with complete sets. For further information apply to Prof. EDWIN R. A, SELIGMAN, Columbia University, or to THE MACMILLAN COMPANY, New York. London: P. S. KING & SON, Orchard House, Westminster. BOOKS OF TIMELY INTEREST Selections and Documents in Economics Edited by Professor William Z. Riplky, of Harvard University. Trusts, Pools and Corporations Edited by WILLIAM Z. RIPLEY * Professor of Economics in Harvard University A collection of important documents by economic and legal specialists, dealing with the greatest problem in domestic politics now before the country. It is from such a book as this, rather than from newspaper comments or articles in popular magazines, that one can get an intelligent and accurate explanation of contemporary problems as well as a progressive history of the whole subject. Trade Unionism and Labor Problems Edited by JOHN R. COMMONS Professor of Political Economy in the University of Wisconsin This book does for the problems of labor what " Trusts, Pools, and Corpora- tions " has done for the problems of capital. The entire field of labor is thus covered by a series of cases with the attendant circumstances. Sociology and Social Progress A Handbook for Students of Sociology By THOMAS NlXON T CARVER Professor of Political Economy in Harvard University Presenting in convenient form, the most significant of the observations made by moralist, metaphysician, philosophic historian, and scientist upon the phe- nomena of society in general, upon the laws of social growth and decay, and upon the problems of social improvement. Selected Readings in Public Finance By CHARLES J. BULLOCK Assistant Professor of Economics in Harvard University These selections include readings from standard authors who have contributed to the development of the science of finance, and other material — documentary, descriptive, and historical — which will shed light upon the subject. The Philippine Islands By FRED W. ATKINSON President of the Brooklyn Polytechnic Institute, and formerly General Superintendent of Education for the Philippines The following quotations from the author's Introduction indicate the scope of the work. " To present the results of personal observation in such a way as to give an accurate and comprehensive idea of just what our Philippine posses- sions are ; to show the real conditions, geographical, economic, social, and political ; to picture the people and their characteristics, the different phases of this problem of tropical colonization, the possibilities and the prospects, — such is the writer's endeavor." GINN & CO., Publishers, 29 Beacon St., Boston, Mass, vl THE YALE REVIEW A QUARTERLY JOURNAL FOR THE DISCUSSION OF ECONOMIC, POLITICAL, AND SOCIAL QUESTIONS The Yale Eeview is the successor of the New Englander and Yale Eeview, founded in 1843. In 1892 its title was modified and its field specialized. It now confines itself to economics, polities, and the social sciences, giving particular attention to the scientific discussion of practical economic and social prob- lems, and to the legislative and voluntary efforts made to solve them. Among its contributors outside of the editorial board, are Henry C. Adams, B. Benj. Andrews, Edward Atkinson, Simeon E. Baldwin, John Bascom, John Graham Brooks, T. 1ST. Carver, J. B. Clark, Eichard T. Ely, Worthington C. Eord, E. E. L. Gould, J. H. Hollander, Brayton Ives, J. Laurence Laughlin, Henry C. Lea, Emile Levasseur, Bernard Moses, H. T. Newcomb, Simon N. Patten, William Z. Eipley, L. S. Eowe, E. E. A. Selig- man, Werner Sombart, H. Morse Stephens, F. J. Stimson, William Graham Sumner, F. W. Taussig, Hannis Taylor, F. A. Walker, Edward B. Whitney, David Willcox, T. S. Woolsey, Carroll D. Wright, Clinton Sogers Woodruff. It is edited by the following professors in the Departments of Political Science and History, of Yale University: Henry W. Farnam, E. G. Bourne, John C. Schwab, Irving Fisher, G. S. Callender, Henry C. Emery, Clive Day, and A. G. Keller. PUBLISHED QUARTERLY On the i;th of February, May, August and November, by The Tuttle, Morehouse & Taylor Company NEW HAVEN, CONN. SUBSCRIPTION PRICE, - - - $3.00 A YEAR Til Annual Series of Studies in History and Politics, 1883-1907 SERIES I.— LOCAL INSTITUTIONS. 479 pp. $4.00. SERIES II.— INSTITUTIONS AND ECONOMICS. 629 pp. $4.00. SERIES III MARYLAND, VIRGINIA AND WASHINGTON. 595 pp. $4.00. SERIES IV MUNICIPAL GOVERNMENT, AND LAND TENURE. 600 pp. $3.50. SERIES V.— MUNICIPAL GOVERNMENT, HISTORY AND POLITICS. 559 pp. $3.50. SERIES VI.— THE HISTORY OF CO-OPERATION IN THE UNITED STATES. 540 pp. $3.50. SERIES VII.— SOCIAL SCIENCE, MUNICIPAL AND FEDERAL GOVERNMENT. (Not sold separately.) SERIES VIII HISTORY, POLITICS, AND EDUCATION. (Not sold sepa- rately.) SERIES IX.— EDUCATION, POLITICS, AND SOCIAL SCIENCE. (Not sold separately.) SERIES X.— CHURCH AND STATE, COLUMBUS AND AMERICA. 630 pp. $3.50. SERIES XI LABOR, SLAVERY, AND SELF-GOVERNMENT. 574 pp. $3.50. SERIES XII.— INSTITUTIONAL AND ECONOMIC HISTORY. 626 pp. $3.50. SERIES XIII.— SOUTH CAROLINA, MARYLAND AND VIRGINIA. 606 pp. $3.50. SERIES XIV.— BALTIMORE, SLAVERY, AND CONSTITUTIONAL HISTORY. 588 pp. $3.50. SERIES XV AMERICAN ECONOMIC HISTORY. 618 pp. $3.50. SERIES XVI ANGLO-AMERICAN RELATIONS AND SOUTHERN HISTORY. 624 pp. $3.50. SERIES XVII ECONOMIC HISTORY: MARYLAND AND THE SOUTH. 600 pp. $3.50. SERIES XVIII.— TAXATION IN SOUTHERN STATES; CHURCH AND EDU- CATION. 582 pp. $3.50. SERIES XIX.— DIPLOMATIC AND CONSTITUTIONAL HISTORY. 650 pp. $3.50. SERIES XX COLONIAL AND ECONOMIC HISTORY. 622 pp. $3.50. SERIES XXI.— INDIANA, NORTH CAROLINA AND MARYLAND. 580 pp. $3.50. SERIES XXII SOCIAL AND INDUSTRIAL HISTORY. 651 pp. $3.50. SERIES XXIII.— COLONIES, REVOLUTION, RECONSTRUCTION. 700 pp. $3.50. SERIES XXIV DIPLOMATIC HISTORY: TRADE UNIONS. 831 pp. $3.50. SERIES XXV.— INTERNATIONAL AND COLONIAL HISTORY. $3.50. The set of twenty-five series of Studies is now offered, uniformly bound in cloth, for library use, for $82.00 net. All business communications should be addressed to The Johns Hopkins Press, Baltimore, Maryland. American Agents. New York. — G. I\ Putnam's Sons. Washington, — W. H. Lowdermilk & Co. Boston — W. B. Clarke Co. Chicago A. C. McClurg & Co. European Agents. Paris — A. Hermann ; Em. Terquem. London. — Kegan Paul, Trench, Triibner & Co. ; Berlin. — Mayer & Mfiller. G. P. Putnam's Sons. Leipzig. — F. A. Brockhaus. Turin, Florence and Rome. — E. Loescher & Co. Notes Supplementary to the Studies in History and Politics price op these notes, ten cents each. MUNICIPAL GOVERNMENT IN ENGLAND. By Dr. Albert Shaw. SOCIAL WORK IN AUSTRALIA AND LONDON. By William Grey. ENCOURAGEMENT OF HIGHER EDUCATION. By Prof. H. B. Adams. THE PROBLEM OF CITY GOVERNMENT. By Hon. Seth Low. THE LIBRARIES OF BALTIMORE. By Dr. P. R. Uhleb. WORK AMONG THE WORKINGWOMEN OF BALTIMORE. By Prof. H. B. Adams. CHARITIES: THE RELATION OF THE STATE, THE CITY, AND THE INDI- VIDUAL TO MODERN PHILANTHROPIC WORK. By Dr. A. G. Warner. LAW AND HISTORY. By Dr. Walter B. Scaifb. THE NEEDS OF SELF-SUPPORTING WOMEN. By Miss Clare de Graffenreid. EARLY PRESBYTERIANISM IN MARYLAND. By Rev. J. W. McIlvain THE EDUCATIONAL ASPECT OF THE U. S. NATIONAL MUSEUM. By Pro- fessor O. T. Masow. UNIVERSITY EXTENSION AND THE UNIVERSITY OF THE FUTURE. By Richard G. Moulton. THE PHILOSOPHY OF EDUCATION. By Dr. William T. Harris. POPULAR ELECTION OF U. S. SENATORS. By John Haynes. A MEMORIAL OF LUCIUS S. MERRIAM, Bv J. H. Hollander and others. IS HISTORY PAST POLITICS? By Professor Herbert B. Adams. LAY SERMONS. By Amos G. Warner ; with a biographical sketch by George E. Howard. Price twenty-flve cents. viil Extra Volumes of Studies IN Historical and Political Science Philadelphia, 1681-1887. By Edwakd P. Allison, A.M., and Boies Pen- hose, A.B. 444 pages. 8vo. Cloth. $3.00. local Constitutional History of the United States. By George E. Howard, Ph.D. Volume I — Development of the Township, Hundred and Shire. 542 pages. 8vo. Cloth. $3.00. Volume II — In preparation. The Negro in Maryland. By Jeffrey E. Brackett, Ph.D. 270 pages. 8vo. Cloth. $2.00. The Supreme Court of the United States. By W. W. Willoughby, Ph.D. 124 pages. 8vo. Cloth. $1.25. The Intercourse hetween the U. S. and Japan. By Inazo (Ota) Nitobe, Ph.D. 198 pages. 8vo. Cloth. $1.25. Spanish Institutions of the Southwest. By Frank W. Blackjiar, Ph.D. 380 pages. 8vo. Cloth. $2.00. An Introduction to the Study of the Constitution. By Morris M. Cohn. 250 pages. 8vo. Cloth. $1.50. The Old English Manor. By C M. Andrews, Ph.D. 280 pages. 8vo. Cloth. $1.50. The Southern Quakers and Slavery. By Stephen B. Weeks, Ph.D. 414 pages. 8vo. Cloth. $2.00. Contemporary American Opinion of the French Revolution. By C. D. Hazen, Ph.D. 325 pages. 8vo. Cloth. $2.00. Industrial Experiments in the British Colonies of North America. By Eleanor L. Lord. 164 pages. 8vo. Cloth. $1.25. State Aid to Higher Education: A Series of Addresses at the Johns Hopkins University. 100 pages. 8vo. Cloth. $1.00. Financial History of Baltimore. By J. H. Hollander, Ph.D. 400 pages. 8vo. Cloth. $2.00. Cuba and International Relations. By J. M. Callahan. 503 pages. 8vo. Cloth. $3.00. The American Workman. By E. Levasseur (translation). 540 pages. 8vo. Cloth. $3.00. Herbert B. Adams. A Memorial Volume. 232 pages. 8vo. Cloth. A History of Slavery in Virginia. By J. C. Ballagh. 160 pages. 8vo. Cloth. $1.50. The Finances and Administration of Providence, 1636-1901. By Howar>> K. Stokes. 474 pages. 8vo. Cloth. $3.50. ix THE AMERICAN WORKMAN By PROFESSOR E. LEVASSEUR AN AMERICAN TRANSLATION BY THOMAS S. ADAMS Edited by THEODORE MARBURG 540 pages, octavo. $3.00 Cuba and International Relations By JAMES MORTON CALLAHAN, Ph.D. 503 pages, octavo. $3.00 The Neutrality of the American Lakes and Anglo-American Relations By JAMES MORTON CALLAHAN 200 pages, octavo. $1.50 American Relations in the Pacific and the Far East 1784-1900 By JAMES MORTON CALLAHAN 180 pages, octavo. 75 cents. THE ALBERT SHAW LECTURES ON DIPLOMATIC HISTORY American Diplomacy under Tyler and Polk By JESSE S. REEVES, Ph.D. 335 pages. Cloth. Price, $1.50 This volume discusses the Northeastern Boundary Controversy; the Ashburton Treaty; the Relations between Mexico and the United States. 1825-1843; the Annexation of Texas; the Northwestern Boundary Contro- versy; the Oregon Treaty; Polk's attempted Negotiation for California; the Outbreak of the Mexican War; the Treaty of Guadalupe Hidalgo. International Law and Diplomacy of the Spanish-American War By E. J. BENTON (In press) Orders should be addressed to The Johns Hopkins Pbess, Baltimore, Maryland. THE AMERICAN POLITICAL SCIENCE ASSOCIATION ESTABLISHED 1903 Frederick n. judson, St. Louis, Mo., McGill DIVERSITY H. A. GARFIELD, PRINCETON "-VERSITY tl^l^^S^^K^ """■ SECOND VICE-PRESIDENT THEOOOHE WooLSEY , Yale UmvEFS , TY PAUL S. REINSCH, UNIV. OF WISCONSIN, JSIV,ES T. YO"NG. UNIVERSITY OF PENN. Third Vice-President J. A. Fairlie, University of Michigan J. H. Latane, Washington &. Lee Univ. W. W. WlLLOUGHBY, JOHNS HOPKINS H. P. JUDSON, UNIVERSITY OF CHICAGO University, Baltimore, Md., F. J. Goodnow, Columbia University SECRETARY AND TREASURER B. F. SHAMBAUGH, UNIVERSITY OF IOWA AIM The advancement of the scientific study .of Politics, Public Law, Administration and Diplomacy in the United States. MEMBERSHIP Any person may become a member upon payment of $3.00 annual dues. Life membership $50. Libraries eligible to annual member- ship. Members entitled to all publications of the Association issued during membership. PUBLICATIONS Proceedings An annual cloth bound volume, containing papers read at the annual December meetings of the Association. The American Political Science Review Published Quarterly. Each number containing: 1. Leading articles. 2. Notes on Current Legislation. 3. " Notes and News," National, State, Municipal, Colonial, Foreign, Personal, and Miscellaneous. 4. Reviews. 5. Index to Political Publications, Books, Periodical Articles, and Government Publications. Each number contains approximately 176 pages. The first number issued November, 1906. Annual subscription price to persons not mem- bers of the Association, $3.00. New members paying dues for 1907 will be sent the November number of the Review. Members desiring to com- plete their sets of publications of the Association may obtain volumes I and II of the Proceedings for one dollar each. Specimen copy of the Review sent upon request. ADDRESS ALL REMITTANCES AND COMMUNICATIONS TO Secretary of the W. W. WlLLOUGHBY American Political Science Association Johns Hopkins University and Managing Editor of the Review Baltimore, MD. xi A REPRINT OF ECONOMIC TRACTS (THIRD SERIES) The reception which students of political economy in this country and abroad have accorded the reprint of certain notable economic tracts of the seventeenth and nineteenth centuries has been so favorable that The Johns Hopkins Press now invites subscriptions to a somewhat more ambitious reprint of four important economic essays of the eighteenth century, to be issued consecutively under the editorial direction of Professor Hollander. The Querist, containing several querieB, proposed to the consideration of the public. Parts I, II, III. [By George Berkeley.] Dublin, 1735- 1737. An Essay on the Governing Causes of the Natural Rate of Interest; wherein the sentiments of Sir William Petty and Mr. Locke, on that head, are considered. '[By Joseph Massie.] London, 1750. Money answers all Things: or, an essay to make money sufficiently plenti- ful amongst all ranks of people, and increase our foreign and domestick trade. By Jacob Vanderlint. London, 1734. An Essay on Ways and Means for raising Money for the support of the present war, without increasing the public debts. [By Francis Fau- quier.] London, 1756. Each tract will be supplied by the editor with a brief introduction and with text annotations where indispensable. The general appearance of the title page will be preserved and the original pagination will be indicated. The edition will be limited to five hundred copies. With a view to serving the largest student usefulness, the subscription for the entire series of four tracts has been fixed at the net price of Two Dollars. Of the tracts heretofore reprinted, a limited number can yet be obtained as follows. As the editions approach exhaustion, the prices indicated are likely to be increased without notice: Asgill, "Several Assertions Proved" (London, 1696). Price, 50 cents. Barbon, "A Discourse of Trade" (London, 1690). Price, 50 cents. Fortrey, " Englands Interest Considered" (Cambridge, 1663). Price, 50 cents. Longe, "A Refutation of the Wage-Fund Theory" (London, 1866). Price, 75 cents. Malthus, "An Inquiry into the Nature and Progress of Kent" (London, 1815). Price, 75 cents. North, "Discourses upon Trade" (London, 1691). Price, 50 cents. Ricardo, "Three Letters on 'The Price of Gold'" (London, 1809). Price, 75 cents. West, "Essay on the Application of Capital to Land" (London, 1815). Price, 75 cents. Subscriptions and orders should be sent to The Johns Hopkins Pbess, Baltimobe, Mabyland. XI) CORNELL UNIVERSITY LIBRARY 3 1924 054 511 351