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Merchants and manufacturers have it in their power to minimise in some degree the extent to which we are becoming indebted to foreign countries in respect of the large excess of imports over exports, by obtaining, as far as possible, their imported supplies of food products and raw materials for industries from countries within the Empire. Take, for example, meat and cheese. The prevailing high prices are no doubt encouraging the home production of these commodities. Nevertheless a large quantity must necessarily be imported. In 1914 meat to the value of 62 million pounds was imported, and cheese to the value of 8 million pounds. Of the imports of meat 26 per cent. came from within the Empire, and of cheese 82 per cent. Clearly it is better under existing circumstances that we should buy meat from Australia and New Zealand than from Argentina, and cheese from Canada and New Zealand rather than from Holland and the United States. Many other examples may be mentioned of products which can equally as well be obtained within the Empire as from foreign countries, such as maize from South Africa, where a large increase of production is expected this year; oats from Canada rather than from Argentina and the United States; barley from Canada; peas from New Zealand; butter from Australia and New Zealand; canned salmon, of which 2½ million pounds' worth was imported in 1914, from Canada rather than from the United States; apples from Canada and Australia; wine from Australia; tea from India and Ceylon rather than from China and Java; cocoa from the Gold Coast and the West Indies; copra from Malaya, India and Australia; rubber from Malaya and Ceylon; fibres from New Zealand, Mauritius, Ceylon, etc.; wood pulp from Canada and Newfoundland; wool from Australia, New Zealand, South Africa and the Falkland Islands rather than from Argentina, Chile and other foreign sources; tanning materials from India, Natal, Australia and British East Africa; dyewoods from the West Indies; timber from Canada; hardwoods from India, West Africa, the West Indies and Australia; copper and copper ore from Australia and South Africa; tin and tin ore from Malaya, Nigeria, South Africa and Australia; manganese from India; plumbago from Ceylon; hides from India, Africa and Australia, and so forth. It has been stated that the result of the war may ultimately depend largely on financial strength. In that case the country which is to the greatest extent self‐supporting as regards supplies of the necessaries of life and materials for the manufacture of munitions of war will be in a position to carry on the longest. Undoubtedly the British Empire contains within itself the power to produce all such materials, and the Dominions, Colonies and Dependencies are in fact already supplying a large proportion of the food products and raw materials for industries, which are imported into the United Kingdom. There are a few notable exceptions, e.g., for our supplies of cotton and sugar we have always been largely dependent on foreign countries, but Uganda and the Soudan are capable of producing in the future very large quantities of cotton of the quality required by Lancashire spinners, and sugar production in our Colonies could, with proper encouragement, be expanded so as to meet the whole of the requirements of the Mother Country. If the British capital and energy which have in the past gone every year to the development of enterprises in foreign countries had been devoted for a tew years exclusively to exploiting the resources of the Dominions and Colonies, the British Empire would, by this time, have become practically self‐supporting, and the bulk of our imported foodstuffs and raw products required for our manufacturing industries would now be obtained from within the Empire and paid for by increased quantities of our own manufactures. It may be hoped that one of the lessons which we shall learn from the war will be definitely to encourage the development of the vast resources of our overseas Empire. — The Chamber of Commerce Journal.

Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).

The importance of sanitary conditions in the production, manufacture, and distribution of foods was never greater than to‐day, for less of the food consumed by the individual is produced and prepared at home than ever before; and likewise, the necessity for sanitary laws in regard to foods was never more keenly realised. The disclosures of the insanitary conditions in our packing houses, exaggerated in many instances, has aroused public indignation. The newspapers added fuel to the flame by rehashing every case in recent history containing anything gruesome or revolting in connection with the preparation of food products. These reports, appearing day after day in the newspapers, gave the public the false impression that the manufacture of human bodies into food products was a matter of not uncommon occurrence, and that insanitary conditions prevailed in the manufacture of most foods. The discussion was continued until not only this country, but Europe, looked with suspicion on the food products of the United States.

Investigates the differences in protocols between arbitral tribunals and courts, with particular emphasis on US, Greek and English law. Gives examples of each country and its way of using the law in specific circumstances, and shows the variations therein. Sums up that arbitration is much the better way to gok as it avoids delays and expenses, plus the vexation/frustration of normal litigation. Concludes that the US and Greek constitutions and common law tradition in England appear to allow involved parties to choose their own judge, who can thus be an arbitrator. Discusses e‐commerce and speculates on this for the future.

Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and judicial decisions that contain 2,041 quantitative estimates of overcharges of hard-core cartels. The primary findings are: (1) the median average long-run overcharge for all types of cartels over all time periods is 23.0%; (2) the mean average is at least 49%; (3) overcharges reached their zenith in 1891–1945 and have trended downward ever since; (4) 6% of the cartel episodes are zero; (5) median overcharges of international-membership cartels are 38% higher than those of domestic cartels; (6) convicted cartels are on average 19% more effective at raising prices as unpunished cartels; (7) bid-rigging conduct displays 25% lower markups than price-fixing cartels; (8) contemporary cartels targeted by class actions have higher overcharges; and (9) when cartels operate at peak effectiveness, price changes are 60–80% higher than the whole episode. Historical penalty guidelines aimed at optimally deterring cartels are likely to be too low.

The Library Association of Ireland issued last month the first number of An Leabharlann, their new official journal. The title, for those of us who do not speak the language of Erin, means The Library. It is an extremely interesting venture which will be followed by librarians on the mainland with sympathetic curiosity. In particular our readers would be interested in the first of a series of articles by Father Stephen J. Brown, S.J., on Book Selection. The worthy Father lectures on this subject at University College, Dublin, in the Library School. It is mainly concerned with what should not be selected, and deals in vigorous fashion with the menace of much of current published stuff. No doubt Father Brown will follow with something more constructive. Mr. T. E. Gay, Chairman of the Association, discusses the need for a survey of Irish libraries and their resources. We agree that it is necessary. The Net Books Agreement, the Council, Notes from the Provinces, and an article in Erse—which we honestly believe that most of our Irish friends can read—and an excellent broadcast talk on the Library and the Student by Miss Christina Keogh, the accomplished Librarian of the Irish Central Library, make up a quite attractive first number. A list of broadcast talks given by members of the Association is included.

Following Braudel's conceptualization of capitalism and Arrighi's periodization of systemic cycles of accumulation, the authors focus on the patterns of recurrence of financial expansions enabling capitalism to revitalize itself through crisis; in this, crisis is considered in both aspects — crisis‐as‐restructuring and crisis‐as‐rupture. The ways in which finance aided by the blocks of governmental and business agencies in the present stage affects investment and business cycles result in a progressive increase of inequality between rich and poor countries, as well as inequality within the most developed countries. The authors tackle the crisis phenomenon through a genealogical analysis of the formation, consolidation and disintegration of the successive regimes of accumulation on a world scale through which the capital economy expands. They furthermore examine the crisis of capitalist accumulation through the relation of money and the state, which leads them to the field of debates on the changed relationship between the global economy and the national state. However, the crisis is also marked by a milestone which, despite dangers and pitfalls, opens up endless possibilities. They end the paper with a critique of the politics of money and advocate a socially responsible finance management, which will pave the way for a structure of society in which humanity will exist as an end in itself, rather than as a resource for the accumulation of money.

Following Braudel’s conceptualization of capitalism and Arrighi’s periodization of systemic cycles of accumulation, the authors focus on the patterns of recurrence of financial expansions enabling capitalism to revitalize itself through crisis; in this, crisis is considered in both aspects ‐ crisis‐as‐restructuring and crisis‐as‐rupture. The ways in whichfinance aided by the blocks of governmental and business agencies in the present stage affects investment and business cycles result in a progressive increase of inequality between rich and poor countries, as well as inequality within the most developed countries. The authors tackle the crisis phenomenon through a genealogical analysis of the formation, consolidation and disintegration of the successive regimes of accumulation on a world scale through which the capital economy expands. They furthermore examine the crisis of capitalist accumulation through the relation of money and the state, which leads them to the field of debates on the changed relationship between the global economy and the national state. However, the crisis is also marked by a milestone which, despite dangers and pitfalls, opens up endless possibilities. They end the paper with a critique of the politics of money and advocate a socially responsible finance management, which will pave the way for a structure of society in which humanity will exist as an end in itself, rather than as a resource for the accumulation of money.