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friction and unrest; Cost of living; Methods of compensation; Hours of work; Tenure of employment; Trade unionism; Labor disputes and adjustments; Limitation of output; Industrial insurance; Housing; Methods of promoting industrial peace; Occupational hygiene; and Women in industry. Extracts are taken from recent literature.

COLE, G. D. H. Labour in the commonwealth. (New York: Huebsch. 1919. Pp. 228. $1.50.)

The entire discussion is based upon the assumption that the present order functions primarily in behalf of the privileged few and does not conduce to the freedom and well-being of the entire commonwealth. Beginning with an emphatic denial of the validity of the commodity theory of labor and a plea for the humanity concept, the author assails the whole range of educational, political, and economic institutions on the grounds that they give to only a few persons the opportunity for the full enjoyment of the rights and privileges of citizenship and abandon the majority to industrial subordination.

Of particular interest is Professor Cole's analysis of the state. He avoids very carefully the mistake which is so often made of confusing the state and the commonwealth as a single entity. To him the commonwealth is the all-inclusive association of citizens, while the state is merely the political machinery through which the common will is expressed. The author's paraphrase that the state exists for the commonwealth and not the commonwealth for the state is very opportune in these days of social reconstruction. There is a great deal of truth in his conclusion that the modern state is primarily the political expression of the economic power of the dominant economic class. He might have added, however, that this is as true of proletarian Russia as it is of bourgeois commonwealths.

Since the fundamental power in any commonwealth is economic, the author is convinced that complete emancipation for the working class is possible only through the conquest of economic power. Here, however, he does not share the conviction of the industrial unionists and the communists that the political state will be unnecessary under socialism. He believes that the political state is always necessary to perform the non-economic functions of the commonwealth, while there must be industrial organizations, such as national guilds, to perform the economic functions. Joint agreements between these two “parliaments" will be sufficient to safeguard the interests of citizens as consumers and producers. This will be recognized as the ideal of guild socialism, which the author sponsors. To achieve this ideal the guild socialists seek to democratize the present political state, and to organize the workers into industrial unions for the final conquest of economic power.

GORDON S. WATKINS.

CROWTHER, S. Why men strike. (Garden City, N. Y.: Doubleday,

Page. 1920. Pp. viii, 232. $1.75.) Feld, R. C. Humanising industry. (New York: Dutton. 1920.) FOSTER, W. Z. The great steel strike. (New York: Huebsch. 1920.

$1.) GLEASON, A. What the workers want. A study of British labor. (New

York: Harcourt, Brace and Howe. 1920. Pp. vii, 518.) GOEMIG, F. Das Arbeitsrecht des neuen Deutschland. I. Die Rechte

des Arbeiters im neuen Deutschland. Second edition, enlarged.

(Bonn: Carl Georgi. 1920. Pp. 142.) HARTMANN, G. Die Stellung der Arbeiterschaft im neuen Deutsch

land. (Munich: Hiller. 1919.) Hecht, J. S. The real wealth of nations. (London & Sydney:

George G. Harrap & Co. 1920. Pp. 352. 15s.) HOWARD, E. D., compiler. The Hart Schaffner & Marx labor agreement. (Chicago: Hart, Schaffner & Marx. 1920. Pp. 97.)

Gives the agreements and rules under which this firm works. HOWARD, H. F. Capital against labor; or, the next war. (Rochester,

N. Y.: Author. Pp. 41. $1.) HUTCHINSON, E. J. Women's wages. A study of the wages of indus

trial women and measures suggested to increase them. Columbia University studies in history, economics, and public law, vol. 89, no. 1. (New York: Longmans. 1919. Pp. 179. $1.50.)

The subtitle of this book raises an interesting point in nomenclature. Should the term "industrial women" be allowed to come into use without some discussion of its meaning? The corresponding term “industrial men” does not seem to be used; and if the term "industrial workers” is the approved method of describing men in corresponding occupations, might not the term "industrial women workers” be preferable to the one employed, if some escape from the old-fashioned "women in industry" is sought?

The first chapter of the volume presents a valuable analysis of the data relating to women's wages collected in a series of official statistical inquiries made in the pre-war period, 1905-1914. Data are brought together from the Census of Manufactures, 1905, the reports on the Condition of Women and Child Wage-Earners, the reports of the New York Factory Investigating Commission, and from various state departments of labor statistics and minimum wage commissions. Following the analysis of wage statistics and of the relation between wages and the cost of living, Dr. Hutchinson discusses the factors affecting women's wages and the most important means of counteracting the evil of low wages, the minimum wage, trade unionism, and vocational education.

The postponement of the publication of this useful and laboriously prepared study makes the data seem curiously obsolete. The picture of women's work and wages in the old pre-war period at first sight appears strangely unreal and out of date. Moreover the author writes as if her discussion were still in line with presentday developments. It is said, for example, in referring to the British Trade Boards act of 1909: “In 1913 four additional trades were brought under the act and the Board of Trade has taken steps to extend it further” (p. 78). As a matter of fact not the Board of Trade but the Ministry of Labor has administered the act for the past three years, and the important new Trade Boards act of 1918 had already a few months ago brought some fifteen additional trades under the act. An account of minimum wage legislation and its effects which ignores the important act of 1918 and the various other extensions of the principle of the state regulation of wages during the war is necessarily incomplete.

Ерітн Аввотт. LEHMKUHL, J. Rational Arbeidsledelse. (Bergen: John Griegs For

lag. 1920. Pp. 88.) LEWISOHN, S. A. Address on the relation of the engineer to the hu

man factor in industry. (Boston: Harvard Liberal Club. 1920.

Pp. 4.) PARKER, C. H. The casual laborer and other essays. (New York: Harcourt, Brace, & Howe. 1920. Pp. 199.)

Students of current economic thought will be grateful for this collection of Professor Parker's papers, unfortunately too few in number. The first paper, Toward Understanding Labor Unrest, written early in 1917, has never been previously published; the second, The Casual Laborer, appeared in the Quarterly Journal of Economics in 1915, the third, on The I. W. W., in the Atlantic in 1917; and the fourth, Motives in Economic Life, in the AMERICAN

Economic Review SUPPLEMENT, vol. VIII (March, 1918). Ryan, J. A. A living wage. Its ethical and economic aspects. Re

vised and abridged edition. (New York: Macmillan. 1920. Pp. 182. $2.)

Revision and abridgment of book first published in 1906. SCHÄTZEL, W. Internationale Arbeiterwanderungen. (Berlin: Frie

derichsen & Co. 1919. Pp. 56.) Williams, R. The new labour outlook. New era series, vol. V. (Lon

don: Leonard Parsons. 1920.) Accident prevention in industry. A selected bibliography. (Detroit:

Public Library. 1920. Pp. 6.) American employers' profit-sharing plans. (New York: National

Civic Federation. 1920.) The code of labor laws in soviet Russia. (New York: Soviet Russia,

110 West 40th St. 10c.)

Compendium of awards in force December 31, 1919. Adult time

workers. New South Wales Industrial Gazette, vol. XVII, no. 2, special supplement. (Sydney: Dept. Labour & Industry. 1920.

Pp. 603.) Conditions of women's labor in Louisiana. (New Orleans: Council of

National Defense. 1920.) Industrial manual. (Bridgeport, Conn.: Bridgeport Brass Co. 1920.

Pp. 151.) International labor conventions and recommendations. (New York:

Am. Assoc. for Intern. Conciliation. 1920. Pp. 50.) Labor relations in Cleveland. (Cleveland, O.: Chamber of Commerce.

1920. Pp. 6.) Ninth annual report on labour organisation in Canada for calendar

year 1919. (Ottawa: Dept. Labour. 1920. Pp. 299.) Proceedings of the fourth industrial safety congress of New York

state, Syracuse, December, 1919. (Albany: Bureau of Statistics

and Information. 1920. Pp. 242.) Report with an historical review of the operations of the Department

of Labour and Industry of New South Wales during the year 1918.

(Sydney: New South Wales. 1920. Pp. 1306.) Report of the Commission of Inquiry into the present conditions in

Ireland. (London: Labour Party, 33 Eccleston Sq. 1920. Pp.

12. 2d.) Report on industrial relations. (New York: Merchants Assoc. 1919.

Pp. 11.) Women's wages today: one reason for a legal minimum in New York

state. (New York: Consumers' League. 1920. Pp. 12.) The work of the labor division of the Goodyear Tire & Rubber Co. (Akron, O.: Goodyear Co. 1920. Pp. 97.)

An exceptionally clear and interesting statement of activities to promote welfare in an industrial plant.

Money, Prices, Credit, and Banking

NEW BOOKS

CHRISTEN, T. Ordnung und Gesundung des Schweizer Geldwesen.

(Berne: Union Suisse pour la Terre et l'Argent Libres. 1919.) VON BRAUN, E., JR. Wiedereinführung der Goldwährung. (Berlin:

Parey. 1920. Pp. 16.) FISHER, E. D. Loans; a study for banker and borrower. (Detroit:

Bank of Detroit. 1920. Pp. 19.) GARRETT, P. W. Government control over prices. (Washington:

Supt. Docs. 1920. Pp. 834.)

This is bulletin number three prepared by the Price Section of the War Industries Board and is more extensive than any others of the series that have yet appeared. The writer has undertaken to present a documentary record of all price regulation instituted by the government during the war, with an analysis of these regulations and their effects. Book I contains the data on which the study is made. Book II gives the regulations themselves in detail.

The study is illustrated with ninety-four charts and many footnote references and explanatory comments, also an extensive bibliography on price regulation, and will be an exceedingly valuable source for material. The authors not only have had access to the data to be found in the files of the war boards but they have gathered much information of fleeting character in respect to rules and agreements which were to be had through personal interviews alone.

MURRAY S. WILDMAN. GIEBERT, A. Ueber Entstehung und Entwicklung des öffentlichen

Kredits im Grossherzogtum Baden. (Leipzig: Tuebner. 1920.) GRAHAM, W. The bank note circulation of Scotland. Fifth edition.

(Edinburgh: C. & R. Andersen. 1920. 2s.) Hecht, R. S. Domestic acceptances; financing warehoused staples.

(New York: American Acceptance Council, 111 Broadway. 1919.

Pp. 21.) HERZFELDER, E. Die volkswirtschaftliche Bilanz und eine neue Theo

rie der Wechselkurse. (Berlin: Springer. 1919. Pp. viii, 487.) JOHANNSEN, N. The true way for de flation. (Stapleton, N. Y.:

Author. 1920. Pp. 8.) KELLENBERGER, E. Geldumlauf und Thesaurierung. Grundsätze der

Notenpolitik. (Zurich: Füssli. 1920. Pp. viii, 232.) KEMMERER, E. W. The A B C of the federal reserve system. Third edition. (Princeton, N. J.: Princeton Univ. Press. 1919.

Pp. 192.) King, C. L., editor. Prices. (Philadelphia: Am. Acad. Pol. & Soc. Sci. 1920. Pp. 289. $1.25.)

Some of the chapter headings are: Gains and losses caused by rising prices; Prospective changes in the price level; American control over prices; Lumber prices; The petroleum resources of the world; The course of profits during the war; Prices and excess profits

taxes; The problem of incentives and output. LAUGHLIN, J. L. Banking progress. (New York: Scribner. 1920. .

Pp. x, 349. $5.) LIEFMANN, R. Arbeitslöhne und Unternehmergewinne nach dem

Kriege. (Stuttgart: J. Hess. 1919. Pp. 27.) Little, E. L. and Cotton, W. J. H. Budgets of families and indi

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