London

Name of Centre.

Par.

Gold-importing Point.

Gold-exporting Point.

Berlin.........................

20.43

20.53

20.32

Amsterdam...............

12.107

12.17

12.02

New York.................

4.866

4.90

4.83

Paris...........................

25.225

25.34

25.12 1/2

Paris

London...................

25.225

25.12 1/2

25.34

Berlin.........................

123.46

122.90

124.14

New York.................

518.26

515.75

523.05

Amsterdam.................

208.32

207.16

210.16

New York

London..............

4.866

4.83

4.90

Paris..................

5.182

5.23

5.16

Berlin.......................

95.28

94.50

96.25

Berlin

London........................

20.43

20.33

20.53

Paris.........................

81.00

80.56

81.37

New York..................

419.79

415.25

423.30

Amsterdam................

168.74

168.25

170.50

* Quoted from Haupt's " Rehabilitation de 1'Argent." p. 9.

Adams's Science of Finance.

By Henry C. Adams, Professor in the University of Michigan. xiv + 573 pp. 8vo, (American Science Series.) $3.50. net.

Part First is devoted to a study of (1) the general principles which determine public expenditures; (2) the constitutional and parliamentary rules which control fiscal legislation; and (3) the administrative principles for the organization and direction of a treasury department. Part Second is given up to an analysis of the sources of public income. It undertakes a discussion of (1) income from public lands and public industries, and the rules to which the administration of public property should conform; (2) income from taxation, which is by far the most important subject embraced in the science of Finance; and (3) income from the use of public credit.

Edwin R.A. Seligman, Columbia University, in Political Science Quarterly: - Will at once command attention as a lasting contribution to economic literature. . . . The emphasis is everywhere laid, not upon facts and figures, but upon the principles involved; and to those who approach the subject for the first time, as well as to those already familiar with the general nature of the problems, the serried phalanx of argument upon argument, of closely reasoned analysis upon analysis, must be both a surprise and a delight. . . . It is perhaps, no exaggeration to say that Professor Adams is at the head of those American scholars who have grasped the essential spirit of modern industrial life; and it is likewise no exaggeration to claim for this volume the distinction of being one of the most original, the most suggestive, and the most brilliant productions that have made their appearance in recent decades.

A. C. Miller, University of Chicago, in Journal of Political Economy: - Altogether an admirable piece of work. It is marked by a breadth and modernness of view, and by a unity of structure, such as make it in many ways superior to its British competitor. . . . The theory of public expenditures is treated briefly, but with great skill, and shows the writer at his best. He avoids perplexing statistical details on the one hand and commonplace generalization on the other. . . . No notice of Prof. Adams's treatise would be fair that did not call attention to his lucid and interesting chapters on the budget - there is nothing better on this subject in the English language -and to his repeated references to American financial conditions and needs. He has embodied, in a special chapter devoted to the purpose, his suggestions for the reform of the American revenue system, federal, state, and local.

Henry Holt & CO. 29 west 23d street

Bucher's Industrial Evolution.

Translated by Dr. S. M. Wickett, Lecturer in Toronto University. xi + 393 PP. 8vo. $2.50 net.

This will make accessible to the student not familiarly acquainted with German a most suggestive work which has been widely influential in the scientific treatment of economic problems from the historical point of view.

Daniels' Elements of Public Finance.

By Winthrop More Daniels, Professor of Political Economy in Princeton University. 373 pp. 12mo. $1.50 net.

The standpoint is in the main conservative. The author maintains the old theses of proportional as against progressive taxation, and of corporate initiative (under legal restriction) as against the public ownership and operation of the majority of urban monopolies.

F. Spencer Baldwin, Professor in Boston University: - It is a piece of work well done both from a scientific and a literary point of view - a text-book with a style. . . . The lucid explanation of the financial system of the United States makes the book particularly valuable for the American student.

James H. Hamilton, Professor in Syracuse University, N. Y.: -There is none of that abstruse-ness and abstractness which are the despair of the popular mind. ... It has the further merit of conciseness, which commends it strongly to the instructor who desires a text for collateral reading supplementary to lectures.

Chicago Evening Post: - We commend the volume to those who would qualify themselves for intelligent discussion of the political and financial issues of the time.

William Z. Ripley, Professor in Mass. Institute of Technology: - In almost all details it accords with my idea of a text-book for such classes as ours. ... It is a book of sound views and suggestive character.

Charles J. Bullock, Professor in Williams College,Mass.: - It seems to me to be admirably adapted to the needs of undergraduate students.

E. L. Bogart, Professor in University of Indiana, in the New York Commercial Advertiser : - Not only is the book to be commended for its subject-matter, but its literary finish also deserves mention. The style is throughout clear and incisive; at times it is even somewhat racy and picturesque - we fancy a smile went with the spoken word. . . . On the whole the volume must be regarded as a distinct contribution to economic literature.

Henry Holt & CO.

New York Chicago

1 '03

"Clear and interesting to the general reader, as well as instructive to the careful student." - The Dial.

An Important Work By The Late Francis A. Walker

President of the Massachusetts Institute of Technology; Professor of Political Economy and History in Sheffield Scientific School of Yale College: late chief of the U. S. Bureau of Statistics; Superintendent of the Ninth Census ; author of the Statistical Atlas of the United States, etc.