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There are two ways of approaching this question of revisions of European debt settlements. One is by an appeal to historical, legal, sentimental, and certain long-run economic considerations, the method that has been followed in the two papers preceding this. The other is to examine the drift of events which may conceivably have much to do with settling the argument. It is possible that the matter may be taken out of our hands, so to speak, and that new adjustments may occur while one is still debating. One will be remembered that in May 1921, claims against Germany were finally set at some 132 milliards of gold marks, including A, B and C bonds, and that attempts were made to collect 5 per cent interest plus 1 per cent sinking fund charges on the A and B bonds or a total of three milliards of marks per year. Against this effort disinterested economists everywhere protested. The Ruhr invasion and the collapse of Germany bear witness to the folly of demanding the impossible. Today the discussion rages around the possibility of collecting only 2.5 milliards per year which is a 6 per cent return on only 41,666,000,000 marks.

The article looks at three aspects of European capital markets. It considers the characteristics of integrated capital markets, the relationship of integration to efficiency, the extent to which developments have affected integrated capital markets, and the prospects for future development. The author notes that, while Europe contains capital markets of importance, no European capital market exists, leaving markets for long-term capital to be organized on unintegrated national lines. The efficiency of European capital markets are considered from an international point of view. Capital markets in Germany, Sweden, Great Britain, and other European countries are discussed.

The article presents a discussion about the spread of the British flora existing from late-glacial period. The article aims to identify which plant species survived the last Ice Age era by examining evidence from the late-glacial condition in north-west Europe such as fruits, seeds, pollen grains, flora, and fauna. It is noted that after such condition, tree-less tundra appeared due to the commencement of ice in regions such Denmark, Sweden, and Germany. An examination was conducted on plants, fossils, habitats, climate, and soil which resulted to the identification of several species widely existing beyond their present-day area in Great Britain like the Polenium, Teucrium scordium, and Dryas octopetala.

To get a proper perspective of the development of accounting in any country one must understand the institutions, the characteristics of the people, and the peculiarities of their business practice. In France and Germany as in other European countries they have many hundreds of years behind them. Their institutions are the result of growth through many generations. Society in the United States is not as static and there is more freedom of movement between people in different walks of life. The French business man does not have the proper attitude towards the accountant. The accountant is a necessary evil. The accounting department is regarded as an expense rather than as a part of the organization that aids in the development of efficiency and as an important factor in the success of any large business. Without doubt French law has had some influence on the development of accounting in France. The French accountants have not organized themselves into strong professional societies. Instead of a few strong organizations they have many loosely joined.

The objective of this article is to point out some lessons drawn from European experience with respect to railway finance and coordination. Immediately two difficulties appear here. First, the problem of selection of specific countries. The author tries to meet this problem by confining this article on railway finance proper to experience in Great Britain and France, where private ownerships typical. In the discussion of coordination, German experience is added, coordination being desirable under any system of ownership. These three countries provide a range from private ownership under a moderate degree of regulation, through private ownership under very complete regulation, to public ownership. The second problem is the difficulty and the danger of applying conclusions drawn from one set of conditions to another set. There are, however, enough common problems confronting European and American transportation to justify our consideration of foreign experience. Countries all over the world are greatly concerned with the plight of railway capital, with the effects of transport competition, and with the need for coordination; and various steps have been taken towards meeting these problems.

The experience of two world wars, the revolutions in Soviet Union and Germany thirty years ago, the Civil War in China, the expansion of the Soviet sphere of influence into the very heart of Europe and the ensuing tensions between the partisans of capitalism, socialism and communism have aroused an intensified interest in the study of those forces and factors which have contributed to the present crisis of Western society. Among these are, of foremost importance, those patterns of concerted social action and more or less organized groups which are commonly referred to as social and political "movements." The conventional approach to the study of these phenomena has been a historical and philosophical study of the ideas or "theories." These were interpreted and analyzed as if they were systems of philosophy. They were submitted to critical evaluation in terms of empirical truth, logical consistency, and ethical standards. Not much attention was paid to the meaning of these ideas to the masses of people who made up the movement or party, or to the social structure of these groups, or to related problems of sociological relevance.

The article discusses educational reconstruction in Europe after World War II. Concerning the occupied countries, the first thing is to ascertain to what degree the Nazi invasion has influenced the social environment in which a child is to be educated, and especially, the two most important groups, the family and the school. In Europe, particularly in the southeast great shillings of population were brought about by the Nazi policy. First the masses of war prisoners, and second, the slave workers recruited from all over Europe, were brought to Germany. Adult education is certainly undervalued in all plans for educational reconstruction. Until now, the adult education in all of Europe played a significant role, but it was never recognized as equally important, for example, to the secondary schools. However, for the workers its importance was equally as great. Adult education should come into its rightful place after the war with adequate financial support. Until now, it has been supported chiefly by membership contributions and small grants, unlike the schools which were financed by the state or municipalities.

Although there is a great deal of literature on the subject of the population transition, there remains much about the history of the fertility decline in Europe that is unknown. A group of demographers under the direction of Professor Ansley J. Coale at the Office of Population Research in Princeton is attempting to trace the history of marital fertility in Europe by province. In large parts of Europe the demographic information available in censuses and vital registration allows them to go back in time to a period during the nineteenth century when marital fertility was high and relatively constant. The general level of fertility was determined first of all by the proportion of the population marrying and the age at marriage. In the light of studies indicating a connection between lactation and fertility among human populations, one might speculate that differences in infant feeding habits account for a good deal of the pre-decide variation in marital fertility. Data on infant feeding habits exist for three states of Southern Germany at a time close enough to the beginning of the fertility decline to enable us to test the role of breast feeding on differences in fertility level.

The article describes the Anglo-American displaced persons program for Germany and Austria. In the advance planning during the winter of 1943-44 of the Anglo-American military authorities in London, it was soon realized that with the defeat of Nazi-Germany the Allied armies would be faced with a staggeringly large and internationally complex problem of repatriating millions of Europeans. To draft a plan it was necessary to obtain agreement among the experts as to the magnitude of the problem. The most exact knowledge possible of the magnitude of the problem was required so that food, clothing, medical supplies and other necessities could be requisitioned to meet the need of caring for these foreign workers and deportees from the time of their liberation until they could be repatriated. For this purpose the military authorities initiated a research program involving the full collaboration of the British Foreign Office and Ministry of Economic Warfare, and the Economic Warfare Division of the American Embassy. All available information was compared, sifted and evaluated. Use was made of highly secret intelligence, tapping continental underground sources, concerning the number of foreign workers by nationality, working at specific factories in Germany and throughout Nazi-occupied Europe. Finally a detailed estimate of the number of foreign workers, deportees and other categories of displaced persons by nationality was made for each country.

Presents a study of the growth of political geographic thought in Germany. Analysis of the German intellectual history; Nazi defeat; Trends of political geographic thought emanating from other nations in Middle Europe.