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This article talks about international trade in the period between 1862-1879, or the greenback period. F.W. Taussig, a professor, concluded in 1917 that with the U.S., which was using inconvertible paper money as monetary standard, borrowing heavily and continuously from Great Britain, which was using gold as basis, there will be increased sterling supply in New York and lowered cost, in U.S. paper, of imported commodities. The author noted that when both countries are on a gold basis, there will be an influx of gold from Great Britain in the U.S. and general prices will rise, while they fall in Great Britain. He concluded that the large borrowing operations of the U.S. in the 1860s was an important factor in the disturbance of the normal course of trade.

The article provides information about a paper that discusses the status of bank deposits in Great Britain from 1870 to 1914. Thorough examination of every single bank in Great Britain revealed that the statistics of the British money supply during the fourth quarter of the nineteenth century are very defective. The basic contentions of this paper was the statistical coverage of the British banking system, very incomplete at first, became progressively more complete during the period under study, so that a systematic upward bias is imparted to the trend of deposits as shown by the statistics. The study also consists of several charts and tables that present the estimates of deposits in all banks, including the Bank of England. The article states that if the series of total bank money shows a relatively constant rate of growth quite unaffected by price movements, then this is not due to those component series, which can be ascertained or easily estimated. It is due to the dubious banking statistics of England and Wales.

Examines the financial and monetary policy of Great Britain during its wars against France in 1793-1815. Circumstances attending the Bank Restriction; Deviations in exchange rates and specie; Walter Boyd's statement of a depreciation theory; Henry Thornton and the purchasing-power-parity theory; Confusion between convertible and inconvertible conditions.

The article analyzes the existence of an eight-year generating cycle in the U.S. agricultural system. According to the author, the eight-year cycle in the crops have persisted from 1760 to 1918, which have induced derived cycles of prices which are reflected and verified in the century of Sauerbeck index numbers of general wholesale prices. Pieces of evidence presented by the author include the analysis of a century of prices and a paper on "A Comparison of the Fluctuations in the Price of Wheat and in the Cotton and Silk Imports Into Great Britain," by J. H. Poynting.

The article focuses on models to examine behavior of money national income under inflationary conditions in Great Britain. The writer on inflation is fortunate in that his subject is generally well understood by economists, since its dramatic empirical manifestations leave little room for dispute as to the general conclusions to which theoretical analysis should lead. Although the author has no illusions about the possibilities of accurate economic prediction, the author do believe that models of the type constructed in this paper can at least provide a surer guide to the implications of an inflationary policy than mere unsystematic speculation. As regards policy, the author fails to see that an inflation that does not approach an upper limit has any constructive purpose. It must be stopped, and the difficulty of stopping it increases as the inflation continues. On the other hand, an inflation that has an upper limit that is considered to be socially tolerable may be considered a constructive means of implementing a policy designed to increase the real burden of a progressive income tax or to impose a levy on wage-earners or both.

This article presents information on a study which analyzed the factors that shaped the mix of domestic and foreign investments in Great Britain. The questions to which this paper addressed itself have now, for the most part, been answered. The percentages of national income allocated to foreign and domestic investment do show a negative correlation for the period, but this correlation is not carried through to the amounts of home and foreign investment, either in money or real terms. Cairncross's approach offers an explanation of their relationship in that the short-run factorB of fluctuation seemed to be those that operated in the same manner on the two series, while long-run trends affected the two inversely. Although this model has more intuitive appeal than theoretical rigor, it does provide an adequate long-run function for both foreign and domestic investment.

The article compares the systems of periodic measurement of output in manufacturing establishments of Great Britain and the United States. The British inquiry covered the building industry which was not included in the American inquiry. The laundry trade finds a place in the reports of both countries for the year 1924 and 1925. In the U.S. Censuses of Manufactures, certain industries are included which in Great Britain have been treated as accessory to trading rather than as manufacturing in character. The British inquiry appears to be more comprehensive that the American inquiry. The group which is presented under the heading of "Public Utilities" covers not only the supply of gas, water and electricity, but certain state enterprises, such as the dockyards of the Admiralty and the printing carried on by the Stationery Office. The group is distinguished from industry in general by the fact that the "profit" of private enterprise is not an element in the charges for goods supplied or services rendered, or in the amounts included in annual accounts of such enterprises as representing the value of their output.

Discusses the financial and monetary policy of Great Britain from 1790 to 1816. Sources of revenue; Relation of unfunded loans to total borrowing; Import and export statistics; Remittances to foreign countries.

Discusses several issues concerning economics and industries. Agricultural laws and legislation in the U.S.; Problems concerning building guilds in Great Britain; Implications on economics.

Focuses on the British Trade Boards Act of 1909. Complex social problem; Laws on minimum wage; Application of factory acts to the sweated industries.

Presents various news items related to the economic conditions in Great Britain and the U.S. as of May 1903. Laws related to education in the British universities; Suggestion for a theory of industrial depressions; Plans of the United States Steel Corp. to issue bonds.

The article discusses the system of public finance as established under Alexander Hamilton, former head of the U.S. Department of Treasury. It discusses the qualification of Hamilton and the huge work that was put forward. It discusses how he went about formulating a plan for a financial system based on experience of earlier financial systems, mainly the English financial system. Features of Hamilton's system of finance which are similar to those of the English system are his scheme for funding domestic debts, his plan for a sinking fund and the charter of the first Bank of the United States.

This article presents information on consumer price indexes in Great Britain. The tables are intended to show the movement of prices, during a series of years, for twenty-two commodities, in the English wholesale markets. Taking the average price for 1845-50, in every case, as the standard, represented by one hundred, the ratio of the price on January 1 and July 1 of every year is compared with this, the result being, in fact, a percentage. The sum of these percentages for twenty-two commodities is the index number for the year, as twenty-two hundred is the index number for 1845-50. Division by twenty-two reduces the series of index numbers to average percentages. The commodities selected are: coffee, sugar, tea, tobacco, wheat, butcher's meat, Surat cotton, raw silk, flax and hemp, wool, indigo, oils, timber, tallow, leather, copper, iron, lead, tin, Pernambuco cotton, cotton yarn, and cotton cloth. The relative importance of a commodity is reached by finding the relative proportions of the home trade in it, taking into account both quantities and values, to the total home trade in the twenty-two commodities.

The article determines whether there were cutoff points between rings and mules when new spindles were being installed in the U.S. and in Great Britain. The single most important technological improvement in the cotton spinning industry during the last hundred years has been the replacement of mule by ring spinning. Most of the technical development of this process took place in the U.S., and it was in the U.S. that it first rose to economic prominence. As early as 1870 ring spinning had become the dominant form of spinning in the U.S. In that year there were a total of 3.7 million ring spindles and 3.4 million mule spindles installed in the U.S. Since, for a given fineness of yarn, output per ring spindle exceeds output per mule spindle, a comparison of the numbers of the two types of spindles installed tends to understate the importance of ring spinning. By 1905, 17.9 million of the 23.1 million installed spindles in the United States were rings. This trend, of course, continued and by the outbreak of AVorld War II mule spinning was virtually extinct in the U.S. Ring spinning was also introduced into other parts of the world, but at a slower pace than in the U.S. Great Britain, with one of the largest cotton industry in the world, was last among all important cotton industries in the introduction of ring spindles.

The article examines the quantitative and economic aspects of the decline of British wheat production that have been much neglected. The period from 1873 to 1914 was studied for the reason that it was only after 1873 that the price of wheat and other kinds of grain fell below the level to which British farmers had been accustomed through most of the nineteenth century. A demonstration of a simple method was established which should be helpful in getting information about the elasticity of supply or demand functions from time series data.

The article presents a debate among economists on the Factory Acts in 19th century Great Britain. The author asserts that there is a need for a reconsideration of the economists' viewpoints. He suggests that the classical economist generally favored regulation of child labor while disapproving of legislation for adults. The author discusses the phases of the debate, history of factory legislation in Great Britain, the Ten Hours Bill of 1847 and an evaluation of the classical analysis that British historians of the Industrial Revolution held the opinion that early factory reform was achieved in the face of strong hostility from the economic experts of the day.

This article presents reasons for the long delay in the adoption of marginal utility analysis by British political economy. Professor Emil Kauder claims that the hegemony of the labor cost theory in British thought in the seventeenth and eighteenth centuries was due to the power and prestige of Calvinist religious theory. He said that the members of the Italian-French subjective value school were Catholics and the defenders of the cost theory of value were Protestants. Secondly, he believes that early nineteenth century formulations of utility were hindered by the strong foundations of Ricardian labor theory in academic circles where utility advocates were unable to exert sufficient influence to gain acceptance for their ideas. Britain was the first country to face the problems of transition from a "natural" economy to one in which exchange and the division of labor were dominant. In the process of industrial development, a theory of production and the search for an objective theory of value were necessary preliminaries to the solution of problems which called for policy recommendations.

This article focuses on the British Monopolies and Restrictive Practices Act of 1948. The Act offers both lawyers and economists an opportunity to examine a new approach to an old problem. The essentially economic tone of the Act delegates the major responsibility for monopoly control to the newly established Monopolies and Restrictive Practices Commission. The purely legal approach to monopoly control was rejected and an essentially administrative procedure was adopted that is based only upon a general statutory description of considerations relevant to the public interest. Before the passage of the 1948 Act the common law provided the only remedy against restraint of trade. The Commission is required to determine the applicability of the Act in terms of structure of the industry. The Commission is specifically required to report whether, if the Act prevails, the conditions in the industry operate or may be expected to operate against the public interest. The Commission should ensure efficient economic production and distribution at prices that best meet the requirements of home and overseas markets.

The article reviews the nationalization program in Great Britain. The author argues that the governments' nationalization program advocates socialist ideals. He claims that social ownership of the means of production and the centralized planning of the economic system are fundamental socialist principles. He divides supporters of nationalization into two schools of thought: socialists and liberals. He stress that the ideas on nationalization between these two schools of thought differ in theory and practice. He stresses that the socialists' approach is vague on notions of social welfare,but the liberals' approach is fairly precise on notions of economic efficiency.

The article examines the economic conditions facing the government in Great Britain. An analysis on the influence of budgetary and investment factors on the British economic crisis in 1947 is presented. The author explores the questions on the role of the restoration of the free markets in the creation of internal and external equilibrium. The success of the government in reducing the international deficit within the limits of the Marshall Aid and the worsening of the international situation made this study of post-war British economic development more convenient for the author.

The article examines the unemployment rate in Great Britain between World Wars I and II. In some ways the Second World War involved a more extensive dislocation than occurred in 1914. There was relatively less unemployment in pre-1914 Britain than in the period between wars, but the outbreak of World War I created a much more serious initial disturbance than was felt in 1939 and 1940. Groups felt the initial impact of the new war, which ordinarily had been most immune to unemployment. Workers in the prosperous areas, uninsured trades and consumers' industries showed the highest loss of jobs. The evidence points to a higher level of unemployment among uninsured persons than among insured workers, not just at the beginning of the war, but through the first two years. The rise in unemployment among the uninsured was not entirely due to dislocation of jobs; new entrants to the labor market who applied for jobs at exchanges would be classified as uninsured unemployed.

This article focuses on the literary work of James Steuart related to the subject of public debt. The stupendous rise of the public debt during the present war has aroused concern among both economists and laymen over the ability of the nation to cope with its postwar economic problems in the face of what seems to be an unprecedented burden. This problem, however, is by no means unparalleled in history. During the eighteenth century Great Britain was involved in five wars, spaced over almost half of the century. During that period the public debt grew by leaps and bounds. It was 16.4 million pounds in 1701, 78.3 million in 1748, and 252.5 million in 1793. The impact of this continuous growth of the public debt on the economy of that period was in several respects more striking than that of the much larger increases of our time. In many ways, indeed, it supplies the key to the economic history of Britain and her rapid rise to commercial and industrial supremacy over the Continental nations. It contributed to economic development and exercised a stabilizing influence on British capitalism. Only James Steuart saw the social and economic implications of the growing public debt.

The article examines the British experience with regard to labor disputes during the 1939-42 war and compares it with the 1927-38 peace period. The incidence and character of labor disputes is related to the national income. In as much as an increase in the national income is presumably accompanied by an increase in the level of employment, more disputes are likely to occur, more work-people are likely to be involved, and more working days are likely to be lost in disputes. Not only is there greater statistical probability in terms of the new level of employment, but the economic scene is ripe for industrial unrest. Prices and profits are rising rapidly, unions are in a stronger bargaining and financial position, membership increases and labor becomes increasingly scarce. The average number of disputes which led to a stoppage of work is to be measured, since disputes not resulting in a stoppage of work are not included in The Ministry of Labour Gazette's statistics on strikes and lock-outs. The average annual number of disputes in the war period was 1,104, as compared with an average of 540 disputes in the peace period.

The article focuses on the experience of Great Britain on prices and wages rates between the period September, 1939 and September, 1941. The period between September, 1939, and September, 1941, may be logically differentiated from subsequent months. Lend-lease aid from the United States attained important proportions only after the close of the period. Furthermore, in September, 1941, the war had not yet directly threatened the British Pacific possessions; it was not yet dear that Russia was going to be a factor in the war over a long period; and formal American participation was still in the future. Since economic policy is intimately conditioned by such factors, the period beginning in the autumn of 1941 may well prove to be different in important respects from the first two years of the war. The legal basis for price control in Great Britain has been adequately described elsewhere. In brief, the Emergency Powers (Defense) Act of August 24,1939, and the regulations, particularly No. 55, issued under its authority empowered the Government to control prices and to enforce its price orders by taking over offending firms, if necessary. The Prices of Goods Act was passed in October, 1939. This was designed to prevent all price increases for the items controlled, except such increases as were made necessary by rising costs.

The article discusses the concentration plan of the British government to control civilian industries. The trend toward cartels and monopolies, which had its inception during the World War, has been accelerated by the concentration program, in spite of the fact that the Government prevented trade associations from assuming any governing position in the operation of schemes. The absorption of smaller companies by larger firms has been an inevitable outcome of concentration, and the longer the war lasts the greater will be the danger of amalgamation and the more difficulty will be experienced by owners of closed plants in reestablishing their companies. For these reasons the attainment of the proper balance between individual freedom and Government control is one of the most urgent problems confronting Britain in the post-war period. The Board of Trade has considered the restrictive tendencies inherent in all concentration plans to insure that no industry receives damage and dislocation, that no new business order is formed which will reduce, on a permanent basis, the number of small companies in any field, and that pre-war business structure is preserved to the greatest possible degree.

How important was the fall in the rate of interest for the building boom? It would seem to follow from the foregoing discussion that the direct influence of the mortgage rates charged by the building societies (notwithstanding the views quoted to the contrary) is not sufficient to explain the housing boom, although it doubtless had an important effect. "The actual mortgage interest rate," writes the Economist, "did not f all until August, 1932, and then only to 5½%. It would be contrary to the whole experience of the building societies to suggest that so small a reduction in interest should in so few weeks have produced so substantial an increase in building. Moreover, building other than residential, which could be expected to react both more quickly and more fully to cheap money, showed virtually no increase until the beginning of 1934. In view of all those facts it seems reasonable to assign to cheap money a much smaller rôle than might be thought at first." Properly interpreted the opinions expressed in this passage cannot be questioned. The immediate effects of the fall in the rate of interest on the "original" cost of housing are not very important. This, however, is only the smallest part of the story, for cheap money has important, though less immediate, effects. If not only the mortgage rate but the whole interest rate structure is considered, these effects will become apparent. Anticipating here the results of the following chapters (particularly Chapter V), it appears that whatever influences were present, they all lead, with one major exception, back to the rate of interest. When the fall of returns on investments other than houses leads to a great influx of funds into the building societies, this influx makes itself felt through a fall in the rate of interest, and, what is ultimately the same thing, through a liberalization of the other credit conditions. When rents remain high, while other returns fall, this again leads back to the interest rate structure. The interest rate, therefore, remains the central phenomenon to which all reasons having to do with monetary policy ultimately reduce. [ABSTRACT FROM AUTHOR]

The article suggests that the objectives of British policy, both immediate and ultimate, should be implemented by the same regulatory technique. It emphasizes that neither avoidance of direct rationing nor depreciation of sterling brings will bring an economic advantage to the Allies. However, it increases the costs of war and multiplies the damages of price-inflation and post-war chaos. Furthermore, the method of approach discussed will be to examine the problem from the standpoint of a quantitative theory analysis and from the statistical perspective.

The article focuses on the aspects of the milk marketing scheme in Great Britain. Among the recent attempts that have been made in all parts of the world to improve the economic organization of agriculture, none is more notable than the English Milk Marketing Scheme. While it is part of the general British program for the assistance of the farmers, it differs in many essential respects from the schemes that have been set up individually for other products either under specific acts, as for wheat and sugar beets, or under the general provisions of the agricultural marketing acts, as for potatoes, hops and bacon. Under the milk scheme complete control over all milk sold in fluid form from farms in England and Wales is exercised by the Milk Marketing Board. England and Wales, with a cow population of roughly three millions, produce annually between twelve and thirteen hundred million gallons of milk. When deductions are made for the quantities fed to calves and consumed in various forms by the farm families themselves, the net commercial production is reduced to approximately one billion gallons.

The article focuses on the general nature of the British movement for industrial reconstruction and the control of competitive activity, including its underlying objectives and the type of machinery employed. The morass of economic difficulties that has afflicted Great Britain since the First World War set the stage for the reconstruction process and the roles were taken by those industrialists and public officials who perceived the necessity for creating a new and improved organization in the productive mechanism of British industry. It is not necessary to catalog the economic misfortunes in which British industry has been plunged since the War or to emphasize the fact that the restoration of prosperity to many sections has required their complete reorganization. The point that does need to be stressed is that centralized control has emerged as an essential feature of the reconstruction process. A brief consideration of the objectives and the mechanism of reorganization will indicate its intimate relation to the control of competitive activity.

The article presents information on the exchange policies of the U.S. and Great Britain. Great Britain accepted and the U.S. sought exchange depreciation as a way out of the economic muddle. Great Britain has added its exchange policies with a policy of monetary expansion at home in 1931-32 and the U.S. is prepared to go even further. To interpret the accounts of the Bank of England, one must consider the effects of an increase in the judiciary issue of £15 million in the latter part of 1931 and a reduction early in 1933. In the latter part of 1931, the value of sterling fell from 4.86 dollars to a point below 3.50 dollars. This decline has been treated as a corrective action of the overvaluation which damaged Great Britain's international position in the years 1925-31. Whereas, on the other hand, the American dollar, has been undervalued abroad in the post-war years. Great Britain requires large imports of food and raw materials and its international position is declining. Exchange depreciation was the important disturbance in Great Britain not experienced by her important competitors.

The article focuses on the U.S. foreign exchange policy during 1933-34. The U.S. administration was successful in depressing the dollar in 1933. In October 1933 the gold buying policy was introduced as a means of depressing the dollar further. Disturbing exchange policies tended to unsettle business, however, with the result that sentiment in favor of some sort of stabilization became more powerful after October. The supporters of the gold buying policy had been impressed with the difficulty of controlling the value of gold in goods and the ease of controlling its price in dollars. The American Government buys gold at its official price and, in doing so, dumps dollars on the foreign exchange markets directly or through the intermediary of private purchasers. Prices rose in the U.S. for the year 1933 while they declined elsewhere; and production increased more rapidly in Great Britain than elsewhere. On the whole the developments in 1933 were favorable in the two countries operating with depreciated exchanges. It is to be recalled that conditions in Great Britain had improved relatively in the preceding year, and in 1933 continued improvement at the American rate was not to be expected.

The article focuses on resale price maintenance in Great Britain. Developments in Great Britain are peculiarly significant because the evolving legal base of price maintenance has become broader than any of the demands of the proponents in the U.S. In Great Britain the broad freedom and enforceability of contracts has been zealously maintained. A manufacturer and dealer may agree to price stipulations in a contract of sale and any violation of terms gives a right of action. Of the existing resale price associations in Great Britain the most important historically is the Proprietary Articles Trade Association in the drug and chemical business. The most trying problems of price maintenance arise out of the relations between the manufacturers and third parties who have not purchased directly from the manufacturers or through their authorized wholesale dealers. The large sale of the items outside the regular channels not only complicates the trade mechanism but introduces a serious pricing problem, for it is only the specialists who rely basically upon the line for their profits and who must insist upon a proper margin.

The article discusses the British Wheat Act of 1932. The Act provides that as soon as possible after the end of the "cereal year" August 1,1932-July 31,1933, and after the end of every succeeding cereal year, the Minister of agriculture and Fisheries shall consult with the Wheat Commission and prescribe by Order the price which he determines to have been the average price obtained by registered growers throughout Great Britain for home-grown millable wheat of their own growing, sold by them in that year. The Wheat Commission is to have under its control a "Wheat Fund" into which its income, mainly consisting of quota payments, will be paid, and from which it will disburse the deficiency payments to registered farmers, and its administrative and other expenses. The registered wheat growers will receive their subsidy in a very circuitous manner, via the bankers, the millers and the Flour Millers' Corporation, the corn merchants and the Wheat Commission. The encouragement of specialization should have a prominent place in agricultural policies and farmers producing wheat upon good wheat land by efficient modern methods have a just claim to be included in the general scheme.

Reviews the conclusions of the Committee of Lord Colwyn on National Debt and Taxation in the incidence of income tax in Great Britain. Validity of the reasoning by which these conclusions were reached; Criticism offered by D.H. Robertson in the article 'The Colwyn Committee, the Income Tax and the Price Level.'

Discusses the rejection of the proposal for a controlled currency in Great Britain as well as objections to the gold standard. Arguments for a controlled currency; Distrust of authorities to whom control must be entrusted; Adequacy of gold supply; Power of the U.S. Federal Reserve Board.

Provides information on the buildings guilds in Great Britain. Distribution of function and control; Structure of the guilds; Principles of the Guild; Difficulties experienced by the guilds; Impact of the housing shortage and the government's erection of workmen's dwellings on the performance of the guilds.

Focuses on profit-sharing in Great Britain. Ministry of Labour's definition of the term; Amount of profits distributed; Decline in cooperative societies' profit-sharing; Effect of the war on the profit-sharing movement.

Compares the debts, revenues and note circulation of belligerent countries after World War I. Increase in per capita debt of U.S., Germany, Great Britain and Russia; Significance of the relation of receipts from taxation to expenditures; Total note circulation of thirteen belligerent powers.

The article presents information on a research related to debts of certain countries who involved in the World War I. The data of nine countries including Great Britain, the U.S., France and Italy were analyzed, which show that after more than four years of war, total debts of these nations aggregated 236 billion dollars as compared with the data in the beginning of the war. In the U.S., the total disbursements from March 1, 1917, to January 31, 1919 were $26,620,334,804 that include loans to foreign governments. In Great Britain, first year of the war showed a decline in the ratio of net receipts from taxation to total expenditures indicating a rise in government spending.

The article highlights the system of taxes on land values in Great Britain. There is great reason to believe that as a result of recent judicial decisions the values of nearly all agricultural properties, and of a great many others, must be calculated over again on a different basis. Judicial decisions were responsible for much of the delay in valuation in the past as well as at present. After the decision of the Valuation Appeal Court in Scotland, April 18, 1912, to the effect that assessable site value could in no case be a minus quantity, valuations were suspended in those parts of the country where few duties and heavy ground rents are common. This decision was reversed by the House of Lords on May 2, 1913. It results from the method of valuation prescribed by the Finance Act, and occurs only when the net value of a property, after deducting the burden of fixed charges, is less than the value attributable to capital expenditures on the property. It is obvious that if the value of the site increases, even if it does not become equal to or greater than the fixed charges, the owner benefits by the full amount of the increase, since his property is more valuable, while the fixed charges remain the same. Hence for the purpose of a tax on increment, minus site values are a perfectly legitimate device. For any other form of tax they are impossible.

The article focuses on capital investments and trade balances status within the British colonies. The article author applies deductively to a few individual countries the generally accepted propositions relating to the connection between capital investments and foreign trade conditions. Those countries of the world which have an excess of merchandise imports over merchandise exports are the capital lending countries, whereas those whose exports exceed imports are the borrowing countries. This is so, because the lending country must secure payment, in the guise of imports, not only for its merchandise exports but also for the interest upon its capital invested abroad in earlier years. Eventually the time will arrive when the annual payments which the lending country receives as interest on its foreign investments will exceed the new and additional capital which it may lend each year. Ultimately the annual interest payments of the borrowing country on account of capital previously obtained will surpass in amount the new capital which it borrows in each year.

The article examines the method of collection and the statistics of the income tax in Great Britain. In 1906 a Committee of the House of Commons examined the method of collection and the statistics of the Income Tax with a view to the possibility of differentiation between earned and unearned income and to the yield of a super-tax on high incomes. The evidence given to the Committee proved that the statistics were inadequate for showing what was the total number of income-tax payers, what were the numbers in any grades of income and what part of income resulted from ownership, what from earnings. The reasons for the imperfection of the statistics were as follows. A very great part of the income tax is collected at the source, from interests, dividends and profits before they are distributed and in a large group of cases from salaries before they are paid. In addition to the income so dealt with, assessments are made on individuals in respect of any other income they are known to receive and returns are demanded from persons and firms for a statement of any income not already taxed that accrues to them.

Examines the provisions of the British National Insurance Act. Sickness and disablement insurance; Number and kind of persons insured; Character of workmen's contribution; Effects of the minimum wage principle; Moral potency of risk and insurance.

Discusses the distribution of income in Great Britain. Average number of incomes per unit of the range of incomes; Value of the mean income; Details of the income tax statistics.

The arrangement of sections of the British Minimum Wages Act of 1909 is presented.

Considers various methods to measure the variability in the distribution of wealth and to apply those methods to available statistics as of May 1909. Description of graphical methods and Pareto law for the distribution of income; Use of coefficient of variability by economists to determine variations in income; Application of the measure to income and wealth statistics of Massachusetts, France and Great Britain.

Focuses on the development of telephone industry in Great Britain. Development of first crude telephone in the country; Restriction for private enterprises related to introduction of telephone in the country; Policies related to establishing public call stations in London, England; Issues related to the conduct of National Telephone Company; Competition in the telephone industry of the country.

Discusses salient features of financial administration under the Long Parliament in Great Britain. Tax assessment plans of Committee for the Advance Money constituted by a parliamentary order; Functions of Army Committee and Goldsmith's Hall Committee; Important fiscal measures introduced in 17th century by the parliament; Dispute triggered due to an introduction of writs for ship money by Charles I.

Focuses on agricultural developments in the West during the civil war in 1860s. Grain crops produced in the U.S. from 1838 to 1865; Average yearly production of grain crops in Great Britain; Increase in population of agricultural states in the U.S.