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justifiable, but what it is and whence it comes. Capital, the sum that draws interest, is "a complex of produced means of acquisition," and is distinct from land. Its earnings are to be distinguished from Rent on the one hand, and from Undertaker's profit on the other.

The book traces the development of the Interest problem, and describes the ancient and medieval attacks on usury, as well as the defenses that were offered in the period from the sixteenth century to the eighteenth. The views of Turgot and Adam Smith naturally receive attention, as do a group of theories, characterized as "colorless," which includes that of Ricardo.

Interest in the critical study increases when the "Productivity" theories are reached. These include the "Näive" productivity theories, which assume that if capital ensures the creation of more goods than would otherwise be created, it must of necessity ensure the production of more value. It includes, also, theories that, without assuming this as a fact, accept it and give reasons for it.

Some of the acutest studies of modern times are examined in Book III, which discusses the "Use" theories, while an analysis of the "Abstinence," "Labor" and "Exploitation" theories occupies the three following books. The seventh and last book discusses some "minor systems." The author's own view is foreshadowed in a concise statement on pages 257-259, from which the following sentences may be taken as expressing the central principle in Professor v. Böhm-Bawerk's philosophy:

"The loan is a real exchange of present goods against future goods. For reasons that I shall give in detail in my second volume, present goods invariably possess a greater value than future goods of the same number and kind, and therefore a definite sum of present goods can, as a rule, only be purchased by a larger sum of future goods. Present goods possess an agio in future goods. This agio is interest. It is not a separate equivalent for a separate and durable use of the loaned goods, for that is inconceivable; it is a

part equivalent of the loaned sum, kept separate for practical reasons. The replacement of the capital and the interest constitutes the full equivalent."


DIE BEVÖLKERUNG DES KANTONS BASEL-STADT: Am I, Dezember, 1888. Im auftrage des hohen Regierungsrates bearbeitet von Dr. Karl Bücher, ord. Professor der Nationalökonomie, u. Statistik an der Universität. Basel, Kommissions-Verlag von H. Georg, 1890. Pp. 96 and lviii; 8 charts.

The productions of official statistical bureaus do not, as a rule, appeal to the general interest. In the mass their importance is fully recognized, but the details interest us only for special purposes. To attract attention such works must show especial excellence of preparation, peculiarity of method, or novelty of subject. The present work on the population of Basel can claim no interest on the last score, but it is instructive in the methods in which the data were obtained and the excellence of their presenta- tion.

The data of the work were collected as a part of the census of Switzerland. The attempt was made to secure the benefit of the enumeration by lists and cards. The original facts were collected by cards, in sets of eight for a family. From the cards, lists were made by the enumerators in order that each district might preserve its own materials. The lists, however, proved worthless as a basis for further preparation of the data, and it became necessary to go back to the cards again.

Another feature of this work is the happy combination of private research with official data. Official bureaus confine, as a rule, their work to the publication of tables, leaving the utilization of them to private individuals. The wisdom of confiding the discussion of the results to those most intimately acquainted with their origin, is in the present case most amply proved. The result is a

highly characteristic statistical study. As its subject is a distinctively urban population, it offers in itself many interesting peculiarities.

An example will best show wherein Professor Bücher's treatment of the subjects differs from the customary official explanations. In treating the numerical relation of the sexes, he deals with the relation historically, and then as compared with that in all Switzerland and other cities. By the aid of the statistics of births and deaths he shows how a city population must develop an excess of females greater than the general average of the country. The degree of this excess is calculated from the facts for Basel, and the influence upon this relation of growth by immigration carefully discussed. To specialize further would be unprofitable. Suffice it to say that the other phenomena of the population are treated with equal elaboration, and a keen perception of the elements of the problems attaching to them. The student will find here valuable information on the composition of an urban population and the effect of immigration upon it.

The author shows a rare gift of combination in the use of figures. To all students of statistical science the work should have an interest apart from its subject as an example of highly-developed statistical methods.

R. P. F.

PROBLEMS OF GREATER BRITAIN. By the Right Hon. Sir Charles Wentworth Dilke, Bart. MacMillan & Co., London and New York. Pp. 738.

A great English historian has said that "Wessex has grown into England, England into Great Britain, Great Britain into the United Kingdom, the United Kingdom into the British Empire." No part of the history of that marvellous process of growth and expansion is more thrilling or more important than that which embraces the series of adventures and conquests through which English traders and warriors have added to the island kingdom, in compar

atively modern times, a colonial empire which embraces about one-sixth of the land surface of the globe, and nearly an equal proportion of its population. This vast domain, nearly three times the size of Europe, is chiefly composed of the possessions of England in North America, in India, in Australasia, in South America and in the West Indies. Not until the accession of the House of Stuart did the acquisition of this colonial dominion really begin. During the last days of the Tudors and the first of the Stuarts two charters were issued to two trading companies of English adventurers. Out of the settlements made by the one grew the Empire of India; out of the settlements made by the other grew the Federal Republic of the United States. The first permanent English settlement made in North America was that made at Jamestown, in 1607—a settlement which was followed, in 1611, by the English colonization of Newfoundland. Then, through the results of the French and Indian War, England received, in 1763, under the Peace of Paris, Canada and all the other French settlements in North America. Then came the War of the Revolution, which ultimately deprived England of all this princely domain south of the north boundary line of the United States. In 1757, just a few years before England succeeded in wresting from France her Canadian possessions, Clive, Pitt's "heaven-born general," won the battle of Plassy, which is generally accepted as the real beginning of the English Empire in India. Eleven years (1768) after the battle of Plassy Captain Cook made his famous discoveries in the Pacific, claiming whatever land he touched in Australia and New Zealand in the name of the mothercountry. Before the end of the century (1795) England took from the Dutch Cape Town, which gave to her the colony of Good Hope-the nucleus of what has since grown into the vast English settlement in South Africa. Although the title of England to certain portions of her colonial empire is much older, its natural growth has been the work of a century, "and almost of our own time."

The difficulty of holding together, of governing, of defending such vast areas of territory, scattered through every clime and inhabited by so many distinct nationalities, and at the same time of so directing the trade with them all as to make it of the greatest possible profit to the motherstate, has cast upon English statesmen, soldiers and financiers the mighty problems which Sir Charles Dilke calls the "Problems of Greater Britain." In order the more clearly to state and explain these problems, the author, who has for years taken an active part in imperial administration and legislation, has visited, with inquisitive and penetrating eyes, all of the British colonies and dependencies which he undertakes to describe. The results of his observations are set forth in a plain and practical manner in the volumes before us. Within the limits of a review nothing more can be attempted than an outline of the several practical systems under which the greater colonial groups are governed.

Before any attempt is made to examine the several colonial systems in detail, it will be well to note the three classes into which the Colonial Office divides all British dependencies, according to their governmental relations to the imperial crown. First come the crown colonies, in which the crown has the entire control of legislation, with the administration in the hands of officers under the control of the home government. Second, colonies possessing representative institutions, but not responsible government. In these, although the crown has only a veto on legislation, the home government retains control of the public offices. Third, colonies possessing representative institutions and responsible government. In these the crown has only a veto on legislation, and the home government no control over any office except that of governor. At the head of this last and most independent class stands the great Canadian federation, to which Sir Charles first devotes his attention.

In 1867-68 the obstacles to Canadian federation, which

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