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This article presents information on several papers and memorandums related to economic conditions in various countries. The Parliamentary documents for 1886 will contain a good deal of evidence of the increasing uneasiness as to the condition and prospects of the foreign trade of England. A Blue Book has been issued, giving the rates of duty levied on imports by the different European countries and the United States; and a second is to give the duties levied by the British colonies, these returns being on the plan of the similar documents published in 1882. The Commission on the Depression of Trade have also collected and published reports from the English consuls, showing the impediments to British trade in the different countries. Another snippet reports that the opening of fertile wheat lands in the United States, and the cheap transportation of grain to Europe have had an influence not only on England and Ireland, but on France, Germany, and Russia. French and German legislation has been invoked to protect the farmer. But now an interesting movement is in progress among the Russian peasants, by which the former serfs are becoming separated from the land. At the time of the emancipation of the serfs, Russia controlled the wheat markets of Western Europe; while the prices of agricultural products were high, and even rising.

The article focuses on the financial and economic problems of railways in Europe. The limitations of human activity are such that the men who come in contact with affairs have generally not the time and more often lack the technical knowledge to write down their experiences. This is as true in regard to the railway problem, whether it works out its solution in Europe or elsewhere. The French railways were making special rates for importations into France, which largely tended to nullify the protective tariff rates. The iron-masters, coal-miners, machine-builders, and textile producers of France, stirred up by the financial interests and by their own greed, in the press and upon the platform drew attention to this nullification of the French national protective policy; and, indeed, the only substantially important new condition that was imposed by the French government upon the railways under the new contract is, that all tariffs upon goods which tend to counteract the fiscal legislation of the country shall be subjected to the absolute control of the government, so as to quiet the agitation which threatened very considerably the permanency of the ministry, and to satisfy the public clamor for protective measures.

The article presents news related to the economic activities in Europe. In the opinion of economist M. René Stourm, the French finances illustrate the risk which a country runs from having too much money in the treasury. A true balance of income over expenditure it has been hard for France to maintain, even if extraordinary outlays were cut down; but, at the same time, the compulsory deposits in the treasury for account of local and judicial authorities, savings, annuity funds, and the like, have given a constantly increasing mass of balances, which runs from 1,000,000,000 to 1,700,000,000 francs. It has been announced that Macmillan & Co. will shortly publish a work by S. Dana Horton, entitled "The Silver Pound and England's Monetary Policy Since the Restoration." The Central Bureau of Statistics of Norway has added a third volume to a series on the merchant marine of all but Asiatic countries. By a royal proclamation published May 19, 1985, the English government has provided for the coinage of a silver four-shilling piece, to be called the double florin.

A conference paper about the Asian influence in Europe is presented. It talks about the Tartar influence in European Russia. The author discusses his travels through Russia and the crossing of the Caucasus Mountains into Europe. Subjects of the paper also include tribes of Jews in the mountains, the Armenian Plain, and Tartar mill-work.

Discusses the investigation of Isthmian Canal Commission to measure the tonnage of ocean shipping that would use the proposed interoceanic canal between the U.S. and Europe. Role of the U.S. Bureau of Statistics in the estimation of foreign trade; Difference in duplication in statistics of entrances and clearances in the United States and in Europe; Difficulty in estimation of factors affecting growth of commerce.

The article focuses on the paper "De quelques questions relatives dl'assurance des risques de guerre," by Emile Audouin. It was formerly the practice, he says, for the same policy to cover both ordinary perils of the sea and war risks, for a single premium. But gradually a change was made, until in 1900 the principal marine insurance companies operating in Europe adopted the principle of a special policy for each kind of risk. The change makes necessary an exactness in the legal definition of ordinary and war risks not required before. If the insured has to cover the two in different companies, it is important for him to see that there are no gaps to leave him without protection, as will happen if the war risk contract is held not to cover a loss, which the law governing the ordinary risk contract would not consider the result of an ordinary peril.

Examines specialization in the woolen and worsted industry in the U.S. and Europe. Different kinds of specialization; Description of woolen and worsted processes; Relative growth of the woolen and worsted branches; Degree of specialization; Comparison of industry organization between the U.S. and European countries; Tendency toward greater specialization in wool-combing.

The article presents abstracts of geographical research papers. In the research paper "A Geographical Study of Nova Scotia," researcher R.H. Whitebeek discusses the geographic conditions of Nova Scotia. Lying nearer Europe and possessing many excellent harbors and peopled by immigrants from the best European stocks, the province of Nova Scotia in Canada has now, after 300 years, fewer people than the city of Boston, Massachusetts. Its total manufacturing output is less than that of single companies in New England, and the province has shared but slightly in Canada's economic growth.

This article presents a study regarding the forests of the western portion of the Caucasus range. The very fertile stretch of land of Colchis lies on the eastern shores of the Black Sea. The parts of Asia and Europe which lie around the high ridge of the Caucasus are mostly dry grasslands and dry deserts. The southwestern part is thickly wooded all over and the water-laden southerly winds which beat against the high walls of the Caucasus bring great quantities of atmospheric moisture and rain to Colchis.

The article provides an overview of the study "Versuch einer Uebersicht der siphonogamen Polsterpflanzen," by H. Hauri and C. Schröter published in the 1914 issue of "Engler's Botanische Jahrbuch." In this article, a list of the known phanerogamic cushion plants and their general characteristics are presented. An analysis of the plants' geographical distribution revealed that half of the species grow in South America and New Zealand. In Europe and Asia, these plants are confined to the mountains.

The article features the flax plant. The plant's strong and enduring fiber is used as lines and nets in the prehistoric years and was later utilized in clothing and household fabrics. Flaxseed is used both as medicine and as food. The oil from these seeds is used in the Renaissance period with the rise of oil painting art. The older countries in Europe still cultivate the plant for fiber while newer countries have developed flaxseed farming. Natural and social advantages of these two distinct culture of the plant are discussed.

The article presents information about bibliographies, periodicals giving news items and special reports in regard to the readjustment and reconstruction of the economic life of the countries of Europe. Some of the bibliographies are, "Reconstruction: A Preliminary Bibliography," compiled by Laura A. Thompson, "List of References on Reconstruction," prepared by Mrs. V. B. Turner, and is to be found in the December, 1918, issue of the journal "Monthly Labor Review." The Library of Congress published in November, 1918, "A List of British Parliamentary Publications on Reconstruction, With Some Other Publications." The Council of National Defense has prepared a "Bibliography on Reconstruction: British Parliamentary Papers and Selected Publications on Reconstruction." A very useful summary of news is contained in the "Daily Digest of Reconstruction News", published by the Director's Office of the Council of National Defense, Washington. It gives important facts about the work of the departments of the federal government in the field of reconstruction, actions of the state and municipal governments, and of foreign governments.

In view of the unsettled condition of European industry and finance, of the depreciated and fluctuating exchanges, and of the enormously heavy tax burdens, existing or prospective, pressure for prompt payment of either principal or interest at any early date would be most unwise. But eventual payment under a generously elastic funding arrangement is both possible and probable. The burden of settling for past wars will be less irksome than that of earlier days devoted to preparation for future wars, and the disturbance to the international money markets and exchange long since stabilized will be inconsiderable. Though advocating the cancellation of this foreign indebtedness, It should, however be a endeavor to make it at the same time an instrument of reform. It might fairly be required, in return for a gradual and progressive cancellation of these debts, that the debtor nations balance their budgets, that they stop the further emission of paper money and that they apply their resources to economic purposes rather than to armament.

This article focuses on the major features in the European economic situation after the World War I, the land area in Europe is practically unchanged and the fertility of the soil has apparently not been greatly reduced. The devasted areas, quantitatively insignificant, have in large mea- sure already been restored. With labor, the problem is not quite so simple. In certain countries the population has been appreciably reduced, particularly that portion of the population which is at the most productive age. With plant and equipment (capital goods), the problem is, of course, much more difficult. Undoubtedly Europe is considerably short of the supply of capital goods that would have existed had the war not occurred. France has rebuilt a large portion of the destroyed areas, and, in the process, indirectly stimulated construction and related industries by continuing to run art annual government deficit of from twenty-five to thirty billions of francs. No one can deny that Great Britain's production and trade figures would have been much larger if the army of unemployed had been set to work at public expense building houses, factories, roads, etc.

This article suggests possible remedies to deal with European financial crisis. Taxes must be greatly increased and public expenditures greatly diminished so that current revenues will not only meet prevailing expenditures but also suffice to permit some amortization of public debt. In Great Britain a restoration of the old gold parity should be looked for. There must be a rational economic settlement of the German reparations question, based on a dispassionate economic analysis of Germany's ability to pay. Industry in Europe must revive. It can be made to revive, however, if the reforms above indicated are accomplished, and if outside help in the form of new capital is obtained. Measures designed to help the exchange problem may properly be made part, however, of the more comprehensive settlement above outlined. A comprehensive settlement might be worked out in the form of a compact between the governments of Great Britain and the United States, together with the bankers of Great Britain, the United States, and Japan as the party of the first part, and the former Continental belligerents as the party of the second part. Part of the proceeds of the new loans made by the United States might well take the form of gold to increase the reserves of the authorities in Europe issuing paper money (chiefly central banks), so as to facilitate their resumption of actual specie payments.

In this article, the author discusses on the role of the U.S. in the problem of stabilizing Europe. The author thinks that the very best and most fundamental method is for the U.S. is to join the League of Nations. This would go far toward solving the economic problems by removing or reducing a chief economic drain on European resources and would put the U.S. What is necessary is to induce France to accept the impartial settlement. She will apparently not accept any solution offered by another European power. She might accept an impartial investigation by the United States. If the matter were sanely handled, economically the rapid recovery of Europe would be possible; Europe itself is not bankrupt, but only her governments. If all inter-government debts could, by some magic wand, be canceled and all the other great government liabilities left by the World War I, such as pensions and military expenses, could likewise be abolished, Europe would recover with astonishing rapidity because her productive capacity is adequate.

In proposing an international convention, for the restoration of gold as the common standard of international trade, the Economic Section of the Genoa Conference of April, 1922, presided over by Sir Robert Home, the British Chancellor of the Exchequer, said: "The purpose of the convention would be to centralize and coordinate the demand for gold, and so to avoid those wide fluctuations in the purchasing power of gold which might otherwise result from tile simultaneous and competitive efforts of a number of countries to secure metallic reserves." And again, in Section 11 of these resolutions, the Committee accented this proposal when it declared: "Credit will be regulated not only with a view to maintaining the currencies at par with one another, but also with a view to preventing undue fluctuations in the purchasing power of gold." The Committee framing these resolutions comprised some of the ablest economists of Europe. As to the first resolution, several facts may be noted: 1) the metallic reserves of England, France, and several other of the chief commercial nations, are, like those of the United States, greater today by far than before the War; 2) The aggregate value in gold of the more stable of the depreciated currencies, like those of France, Belgium, Italy, Czecho-Slovakia, etc., tends to be roughly equivalent to the value which their pre-war currencies had in gold; 3) It follows that the stabilization of the principal currencies of Europe at or near their present gold parity would involve no great demand for metallic reserves, as for the most part these are now ample.

Discusses the proposal to regulate the coal industry of the U.S. Analysis of the chaotic condition of the American coal industry; Regular operation of mines in Europe; German coal parliament; Remedies to problems in the U.S. coal industry.

The story of man's occupation of the earth seems to be divided into two rather sharply marked periods the ancient and the modem world. It is not altogether a distinction of time; somewhat it is of space. For more than half of mankind is living in the ancient world today for all practical purposes. People of Europe and the Western Hemisphere and of certain islands of the Western seas are proud of our modernity. Perhaps the pride is based too heavily upon the modern machinery that people use so universally. The difference between the ancient world and the modern world, wherever those worlds may exist in time or space, is the difference of ideals upon which the two worlds are founded. The ancient world seems to have risen upon the theory that physical force is man's final arbiter, The modern world seems to be growing upon the faith that ideas rule that things of the spirit are unconquerable when they promote broader fellowships, more abundant living, more kindly pace in the works and ways of men.

More than any other American sociologist, Albion W. Small has mediated the results of European scholarship. The intellectual world is now one society. No nation would have had anything approaching its present scientific development without the collaboration of the scientists of different nations. Indeed, science as a national phenomenon is unthinkable. It is a part of the life of "the great society." In order to understand the development of the intellectual attitudes that have characterized the life work of Small and how he came to be so important a mediator between the scholarship of Europe and the U.S., it is necessary to sketch briefly some of the events of his career. Born May 11, 1854, at Buckfield, Maine, he graduated from Colby College in 1876. Already as a student he showed the fondness for telling phrases and the gift for constructing them which has always characterized his speech and writing. For the three years ending in 1879 he was a student at Newton Theological Seminary.

Focuses on commercial policy in Europe after World War I. Comparison between the policy of reciprocity and most-favored-nation treatment; Provisions of the Cobden treaty; Movement for a multilateral arrangement; International Economic Conference of 1927.

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.

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.

Discusses insights that letters written by writer Fenimore Cooper from Paris and Rome give on events in Europe and European civilization. Absence of assembled letters or written papers of Cooper after his death; Revelation of journeys made by Cooper after 1826; Views of Cooper on European civilization found in his letter to friend Charles Wilkes; Letter from Cooper to poet Samuel Rogers dated January 19, 1931.

The article illustrate contrasts and similarities in the general development of European and American sociology in recent times. A conspicuous difference in this respect is that in American Sociology has grown as a child nursed by the Universities and Colleges; while in Europe its modern start, since August Comte, and development have in a considerable degree taken place outside of the Universities and Colleges. Indeed a number of the founders of the principal modern sociological systems in Europe never occupied the position of a teacher in University at all. This difference also continues to exist at the present moment: although the number of Universities and Colleges in Europe where sociology has been introduced as a regular course has considerably increased since the time of the War and Revolutions; nevertheless this number is still much below that of the United States. Another difference lies in the character of the European and American sociologists. The bulk of the sociological works in America are marked by their quantitative and empirical character while the bulk of the sociological literature of Europe is still marked by an analytical elaboration of concepts and definitions; by a philosophical and epistemological polishing of words.