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its methods. He regrets that Japan did not play a positive role in the Washington Conference by taking the initiative and proposing a program for the East. He is optimistic for the future of Japan and believes she will faithfully execute her promises made in the Washington Conference. This book gives the best analysis of the situation of the Far East that has come from the press.

University of Texas.


BARUCH, BERNARD M. The Making of the Reparation and Economic Sections of the Treaty. (New York and London: Harper & Bros., 1922. Pp. 352).

This is an account of the inside workings of the Peace Conference on the economic phases of the treaty by a member of the various commissions that dealt with these matters. The proposals of the various national commissions are given, the compromises that were made, the positions taken by the various national groups in the process of these settlements. The author shows that the American commission was usually more reasonable in its demands than the others and that Woodrow Wilson was able in many instances to persuade the other commissions to modify their demands. The author feels that the American interests were well protected at the conference.

The impression is made that the treaty was the best possible under the circumstances, but that this does not mean that it should not be modified. The merits of the treaty can be shown only by its enforcement with proper readjustments. The book is a sane, conservative and critical discussion of this much mooted question, and will be very helpful in clarifying portions of the Versailles treaty.

The reparation and economic clauses are quoted and marginal explanatory notes made for the guidance of the reader. There are an additional fifty-six pages of addresses on problems connected with the economic and reparation provisions of the treaty.

University of Texas.


KEYNES, JOHN MAYNARD. A Revision of the Treaty. (New York: Harcourt, Brace & Company, 1922. Pp. vii, 242.) This is a sequel to Mr. Keynes's former volume on "The Economic Consequences of the Treaty" and is in the main a coroboration of the author's first position. He regards the present ills of Europe mainly due to the almost iniquitous provisions of the treaty and that its revision is imperatively necessary in the interest of justice and humanity. The author feels the wickedness of the European situation, especially the reparation problem, so keenly that his book is almost poisonous to a student who is trying to obtain a balanced attitude toward the work of the allies in the Paris Conference.

The author presents a very keen analysis of the economic and reparation clauses with the result that the French demands appear absurd. The author's discussion is convincing, but a more conservative criticism would probably have left less doubt, in the reader's mind, of the truth of the author's thesis. There are thirty-six pages of valuable documents in the appendix.

University of Texas.


VANDERLIP, FRANK A. What Next in Europe? (New York: Harcourt, Brace and Co., 1922. Pp. vi, 308.)

This book like all Gaul is divided into three parts: The Background, Economic Chaos, and Reconstruction. The author visited fifteen countries and held conferences with their leading statesmen and financiers. The information thus gained combined with his experience and observation constitutes the basis of his discussions.

The book primarily deals with the economic situation in Europe. The chief difficulties in this problem are considered to be inflation, the German indemnity and the Allies' debts. The far reaching influences of inflation are clearly and forcibly depicted. The author thinks Austria and Poland outside of Russia are in the most hopeless condition while Italy is recovering more rapidly than the other European powers.

The League of Nations is regarded as one of the major forces of reconstruction in efforts at more cordial international comity among the European powers, as a sina qua non to financial and political readjustment. International traffic and exchange will as they are regarded as general European problems become agencies of reconstruction. The German indemnity will, in the opinion of the author, have to be modified and should be done by the European powers on their own initiative rather than on a basis of cancellation of their debts by the United States.

The author's specific proposal for the economic plight of Europe is a Federal Reserve Bank of the United States and Europe as a "Super Corporation" with a capital of gold to be subscribed by Americans and Europeans. This institution would be governed by a court of Trustees consisting of five Americans and four Europeans. This bank would have branches in the various European states, and would in the author's mind be able to stablize and reconstruct the European currency systems. This proposal, of course, is based upon the American Federal Reserve system, and undoubtedly would, if instituted, prove a valuable aid in the solution of the European exchange problem.

Vanderlip's diagnosis of Europe and his prescriptions for her ills are probably the most scientific of the many that have been made. They are certainly interesting and appear sensible to understand. Anyone attempting to understand the European muddle should read this work.

University of Texas.


EAGLE, EDWARD E. The Hope of the Future.


The Cornhill Publishing Co., 1922. Pp. 141.) This book in the main is a description of the British Empire. It was written by an American who spent five years in gathering the information that he is anxious for his fellow countrymen to have. The Hope of the Future, as he sees it, is the solidarity of the English speaking groups, and it is his aim to promote a better understanding of these groups and their institutions. His method is primarily to

show the virtues of the English and the vices of the Americans. This may be the proper method to bring Americans to a realization that their English cousins are not so bad and that they themselves are living in glass houses, but it at least is not scientific. The book is valuable, however, as a study of Anglo-American relations.

The book is really a series of sermonetts on a good many topics that are not very closely related. From the selling of goods abroad and difficulties of a democracy, the author passes to the chapter headed "The Golden Calfe," in which he becomes a sort of "Billy" Sunday, and warns the American that their worship of materialism is making them a sordid and vulgar people. The book, while it is gossipy and scrappy, has some merits.

University of Texas.



OF AUGUST 24, 1912,

Of Southwestern Political Science Quarterly published quarterly at Austin, Texas, for April 1, 1922,

State of Texas.

County of Travis.

Before me, a notary public in and for the State and County aforesaid, personally appeared Herman G. James, who, having been duly sworn according to law, deposes and says that he is the editor of the of the Southwestern Political Science Quarterly and that the following is, to the best of his knowledge and belief, a true statement of the ownership, management (and if a daily paper, the circulation), etc., of the aforesaid publication for the date shown in the above caption, required by the Act of August 24, 1912, embodied in section 443, Postal Laws and Regulations, printed on the reverse of this form, to wit:


That the names and addresses of the publisher, editor, managing editor, and business managers are:

Publisher, Southwestern Political Science Association, Austin, Texas.

Editor, Herman G. James, Austin, Texas.

Managing Editor, Herman G. James, Austin, Texas.

Business Managers, none.

2. That the owners are: (Give names and addresses of individual owners, or, if a corporation, give its name and the names and addresses of stockholders owning or holding 1 per cent or more of the total amount of stock.)

Southwestern Political Science Association, an unincorporated as


The officers of the Southwestern Political Science Association are: C. B. Ames, President, and Frank M. Stewart, SecretaryTreasurer.

3. That the known bondholders, mortgages, and other security holders owning or holding 1 per cent or more of total amount of bonds, mortgages, or other securities are: (If there are none, so state.)


4. That the two paragraphs next above, giving the names of the owners, stockholders, and security holders, if any, contain not only the list of stockholders and security holders as they appear upon the books of the company but also, in cases where the stockholder or security holder appears upon the books of the company as trustee or in any other fiduciary relation, the name of the person or corporation for whom such trustee is acting, is given; also that the said two paragraphs contain statements embracing affiant's full knowledge and belief as to the circumstances and conditions under which stockholders and security holders who do not appear upon the books of the company as trustees, hold stock and securities in a capacity other th an that of a bona fide owner; and this affiant has no reason to believe that any other person, association, or corporation has any interest direct or indirect in the said stock, bonds, or other securities than as so stated by him.


Sworn to and subscribed before me this 30th day of March, 1922.


(My commission expires May 30, 1923.)

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