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On 2 June 1998, the lead story in the north of Scotland's morning daily newspaper, the Press and Journal, carried the headline: ‘Impasse on plan for café ‐ Traders object to work creation in social firm for slow learners.’ This is a cautionary tale about he difficulties social enterprises can face when entering the real market place.

Discusses the BCCI scandal, with particular reference to the part played by auditors Price Waterhouse. Declares the IIA Position Paper on Whistleblowing to be inadequate and urges reform of corporate governance: the selection and training of non‐executive directors must be improved and their role enhanced; an audit committee should be compulsory in areas of public exposure and concern; external audit should include in its remit the adequacy of internal audit and both should be mandated to report irregularities to the appropriate regulatory bodies.

WE wish our readers success and prosperity for 1935. In the pages of our last number was given a brief retrospect of the events of 1934, and there is no advantage in repeating any part of it. Suffice to say, the year was one of the most memorable in the annals of libraries from the point of view of the new buildings which have been erected to serve great places. The year before us will present a full programme of work for all librarians. The major interest will probably be the conference to be held at Manchester in September, when hundreds of librarians will have the opportunity of seeing the building of the largest of British, if not of European, public libraries. We understand, too, that the conference will deal systematically with the efficient library in the modern community, but no doubt fuller information upon this programme will be forthcoming very shortly. The time is not ripe, we fear, for us to expect anything in the shape of a consolidating library aft which shall bring into coherency the scattered library laws of this country. We hope something will be done in the year to improve the examination system of the Library Association, which fails to give satisfaction as it stands at present. We confidently expect that the co‐operation embodied in the Regional Library Bureau will be extended, and as our recent pages have shown, we hope that the National Central Library will be relieved of some of its financial anxieties by direct action upon the part of public libraries and of the Treasury. There are signs that the country is gradually returning to prosperity, and we hope that in any such event libraries will benefit and librarians will receive some attention in the matter of their salaries.

The Bureau of Economics in the Federal Trade Commission has a three-part role in the Agency and the strength of its functions changed over time depending on the preferences and ideology of the FTC’s leaders, developments in the field of economics, and the tenor of the times. The over-riding current role is to provide well considered, unbiased economic advice regarding antitrust and consumer protection law enforcement cases to the legal staff and the Commission. The second role, which long ago was primary, is to provide reports on investigations of various industries to the public and public officials. This role was more recently called research or “policy R&D”. A third role is to advocate for competition and markets both domestically and internationally. As a practical matter, the provision of economic advice to the FTC and to the legal staff has required that the economists wear “two hats,” helping the legal staff investigate cases and provide evidence to support law enforcement cases while also providing advice to the legal bureaus and to the Commission on which cases to pursue (thus providing “a second set of eyes” to evaluate cases). There is sometimes a tension in those functions because building a case is not the same as evaluating a case. Economists and the Bureau of Economics have provided such services to the FTC for over 100 years proving that a sub-organization can survive while playing roles that sometimes conflict. Such a life is not, however, always easy or fun.

PERIODICAL LITERATURE is notoriously afflicted by a high infant mortality rate. Literary magazines in particular seem to exhibit all the survival instincts of a claustrophobic lemming. It is therefore a special pleasure to see an avowedly ‘bookish’ magazine—and a Scottish one at that—celebrate its fiftieth birthday. Fifty years of a Scottish literary periodical! It is rather like running up a cricket score at football. Even more extraordinary is the fact that these fifty years have been achieved under only two editors. R. D. Macleod, the founding editor, ran the magazine for 37 years, while his successor, W. R. Aitken, has been in charge for, as he puts it, ‘a mere 13’.

Although none of the new music reference books of the past year totally replaces the old stand‐bys, some significant works did appear, especially in the areas of contemporary music, opera, and classical music discography.

IN recognition of his services to the library movement in India, H. H. the Maharaja Gaekwar of Baroda, G.C.S.I., was the guest of honour at a dinner given at Claridge's, London, on 30th May, by the transitive circle called THE LIBRARY REVIEW AND FRIENDS. Those present included Mr. E. Salter Davies, C.B.E., President of the Library Association, Mr. L. R. McColvin, F.L.A., Hon. Secretary of the Library Association, Mr. P. S. J. Welsford, F.I.S.A., Secretary of the Library Association, Mr. W. C. Berwick Sayers, F.L.A., Chief Librarian, Croydon Public Libraries, Mr. J. H. Roberts of the New Statesman and Nation, Dr. Modak, the A.D.C. to H. H. the Maharaja Gaekwar, Mr. Newton M. Dutt, F.L.A., formerly Reader to His Highness and State Librarian of Baroda, and Mr. R. D. Macleod, F.L.A. (who presided). Apologies for absence were received from Colonel J. M. Mitchell, C.B.E., Professor C. N. Seddon, sometime Dewan of Baroda, Mr. S. K. Ratcliffe, Mr. M. H. Spielmann, F.S.A., Mr. William Will, Captain L. Cranmer‐Byng, and one on behalf of Mr. Arundell Esdaile, Secretary to the British Museum, who was at Madrid.