Volume I, 547 pages Volume II, 573 pages

The present edition of Professor Taussig's standard work embodies many changes throughout the text, thus bringing his work abreast of the most recent developments. The chapter on banking in the United States has been entirely re-written; as it now stands, it includes a description of the Federal Reserve Bank system and a consideration of the principles underlying the new legislation. The chapter on trusts and combinations has been largely re-written, with reference to the laws enacted in 1914. Considerable addition and revision has been made in the chapter on workmen's insurance, calling attention to the noteworthy steps taken of late years in England and the United States. The chapters on taxation and especially on income taxes, and on some other topics, have been similarly brought to date.

A remarkable tribute to the merit of this book is that while it was not intended primarily as a class text, it has been adopted for exclusive use as a text in many of the colleges and universities, both large and small. Experience has shown conclusively that the book's clarity of expression and freedom from the usual technical treatment of the subject has made it an especially suitable text for all colleges. For the smaller institutions, the book has the additional advantage of containing all the necessary material required in the usual course in economics, and thus avoids the extra expense and trouble of using several other books to supplement the basic text. In fact, the value and the extended use of this work as a comprehensive, untechnical treatment of the subject, have led many eminent economists to regard it as the most notable contribution to the subject of economics since the time of John Stuart Mill.

THE MACMILLAN COMPANY Publishers 64-66 Fifth Avenue New York

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Transcriber's Notes:

Obvious typographical errors were corrected.

Hyphenation inconsistency between "co-partnership" as used by the author, and "Copartnership" as in the title of a quoted reference, was retained as in the original.

A few out-of-order index entries were relocated.

Advertisements: "THE MACMILLAN COMPANY Publishers 64-66 Fifth Avenue New York" appeared at the bottom of each ad page in the original. This has been reduced to one occurrence after the final ad.