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PREFACE

THE first six chapters of this volume contain the substance of a series of lectures delivered on the George Leib Harrison Foundation at the University of Pennsylvania in the months of November and December, 1910. The final chapter has been added since the decisions in the Standard Oil and American Tobacco Trust Cases were rendered by the Supreme Court of the United States, and aims to give an interpretation of these decisions and to forecast their probable effect upon the problem of regulating corporations in the future.

The cordial reception accorded these lectures by the audiences which attended them was followed by a request that they be published in book form. In complying with this request it has seemed best to preserve as far as possible the style in which they were given. They were delivered for the most part extemporaneously. Some revision has been made and expressions in anticipation of the decisions under the Sherman Antitrust Law have been omitted, but otherwise the first six chapters do not materially vary from the lectures as they were delivered.

The fourth chapter, on Banking Corporations, was included in the original plan for the lectures. This chapter is largely devoted to discussion of our mone

tary and banking problems, and is accordingly not in entire harmony with the rest of the book, but in view of the prominence of this subject at the present time it has been included.

WASHINGTON, D. C.,
August 1, 1911.

THEODORE E. BURTON.

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