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Focuses on political conditions in the U.S. during the 1970's. Incidents highlighting the shortcomings in leadership qualities of U.S. President Richard Nixon; Political significance of the Trade Reform Act of 1973; Others.

At the Republican National Convention at Chicago Professor Irving Fisher, accompanied by former Representative Fowler, both of them economists and authorities on finance, appeared before the platform committee and urged a plank calling for the repeal of the Federal Reserve Act. At San Francisco other economists urged upon the Democratic National Committee a plank defending the act. It makes no difference that neither recommendation was acted upon, the essential fact being that the fundamental banking law is under fire and it is seldom that where there is intelligent criticism there is not also a solid ground for complaint.

The article discusses the book "Old Possum's Book of Practical Cats," by T.S. Eliot. Eliot's new book begins with two drawings on orange paper. Presumably they were drawn by Eliot himself. The poems are not only about cats, but about English cats. Moreover, they are poems not for any children but for English children, for they refer often to such objects as pubs, area windows, the Admiralty, Indian colonels, and numerous London place names.

Mastery in the art of war is said to be evidence of genius of the loftiest type. It may be held with equal justness, that to write the history of a war as it should be written, the highest attributes of the human mind are required. Great deeds can be exactly measured only by great minds. For to define and appreciate distinctly their motives, means and results, he that essays their commemoration must in a measure re-conceive them, and such a re-conception is possible alone. With natural gifts, if not absolutely, at least nearly similar. Great historians are just as rare phenomena as great generals. Hence it would have been unreasonable to expect that managing editors could secure the services of first class historical writers as army correspondents.

As the Republican headquarters in the Fairmont Hotel began to take shape, it looked at first as though that was the way it was going to be--television cables all over the lobby, Pepsicola girls in bottle-top bathing suits, stunts and flashlight bulbs going off in all directions. The author feels that this convention was not just the combined brains of the best advertising agencies of the United States. It was a reflection of something all these people believe as a patent fact. As far as this Administration is concerned, the business community does not manipulate the government, it is the government.

The Austrian people have seen one way out-federation with their blood-brothers of Germany, who might share with Austria their coal, and link their industry with hers in such fashion as to give both life. But this the peace treaty forbids Austria to do, unless with the consent of the Council of the League of Nations, and France, still obsessed with the fear of a mighty Germany, stands adamant against such consent. There is no time to waste, for bankruptcy is contagious, and half of Europe is on the verge of the illness. Polish and Hungarian moneys are worth even less than the Austrian krone, and the Jugoslav, like the German mark, is 95 per cent below par.

This article focuses on the political developments in various parts of the world. The text of the Bering Sea treaty now before the Senate provides for the arbitration of all the points in dispute, and also of one point not in dispute. The latter, which is Not all the rights of Russia, as to jurisdiction and as to the seal fisheries in Bering Sea east of the water boundary, in the treaty between the United States and Russia of the 30th of March, 1867, pass unimpaired to the United States under that treaty. The Chicago Tribune publishes two pages of facts and opinions upon the workings of the Inter-State Commerce Law in the U.S. All persons interviewed state that the act to regulate commerce is very unsatisfactory in its actual effects upon business in the West.

The article focuses on the political aspects of the war between the U.S. and Spain. For over fifty years one party or another has proposed to help itself by the deliverance of Cuba from Spanish rule, beginning with plan of annexing it in the interest of slavery, in 1854. The result has been that in the minds of many politicians a war with Spain about Cuba has lost the character of a war, and come to seem merely a "shrewd move." The article also throws light on the variety of opinions concerning the position the U.S. commerce would occupy on the sea in case of war with Spain. Under international law, as interpreted by the admiralty courts for ages, and as accepted by most nations until 1856, a belligerent can seize his enemy's goods in neutral bottoms on paying the freight due to the carrier.

The article presents information on various developments related to the U.S. The U.S. Interstate Commerce Committee begins this week its hearings on the general subject of anti-Trust laws. But the country has already begun hearings, on an enormous scale. In another development, the municipal victories of the Socialist party in New York, Ohio, Wisconsin, and other States have been universally regarded as striking. While estimates may vary widely in attempting an appraisal, no open-minded person can doubt that these Socialist votes indicate a rapid growth both in Socialistic sentiment proper and in that feeling of profound dissatisfaction with our existing municipal regimes which has no thing in it that can in any permissible sense be designated as Socialism.

The article presents information on several issues. Current dispatches from Montreal show that the Canadian press and government are anxiously considering the effect of the new American tariff upon trade relations with the Dominion. In another development, the action of the New York State Liquor and Beer Dealers' Association last week is in one way a pointed, if a back-handed, compliment to the recent prohibition agitation. If the laws, that have been put on the statute book against the sale of liquor are wholly inoperative, there is little reason for collective defensive action by those interested in the liquor business.

This article discusses some international issues. In order to grasp the full meaning of the decision of the Republicans of the Senate to prepare a tariff bill of their own as a substitute for the Mills bill, one can make a rapid survey of developments since U.S. President Grover Cleveland sent his tariff-reform message to the U.S. Congress in December last. The Inter-State Commerce Law, as far as it had any definite design, was framed to meet the conditions of railroad business, and especially the evils of railroad discrimination. People might differ, and did in fact differ very widely, in their opinions as to what constituted an unjust discrimination, or how far it was wise for the U.S. Congress to interfere with the liberty of action on the part of the railroads ; but there was an evil distinctly seen which gave the law a specific purpose.

After a platonic demonstration of 240 Socialists, Radical and Communist deputies in favor of a capital levy, platonic because, whatever merits of the proposal, it could not solve the immediate difficulties. The French Parliament has adopted the government measures by overwhelming majorities. It could not do otherwise, for the eleventh hour has been reached. The state has to pay nearly two billion francs on July 1, 1925 for bonds issued in 1922, which fall due on that day and have not been renewed and the Treasury is empty. Failing a compulsory moratorium, which would have amounted to an act of national bankruptcy, the money had to be found somehow.

Presents several letters to the editor on various topics. Information on the points made by the judge; Declination of currency after the war; Information on the payment of contracts.

This article discusses various current socio-political issues and events. It first focuses on rumors concerning British Prime Minister, William E. Gladstone's retirement. It is supposed that Gladstone's retirement from the premiership will make less difference than was at one period anticipated. There seldom was a stronger cabinet-one against which the opposition has beat itself to so little purpose. Gladstone will be followed in his retirement by the profound respect of the vast mass of the Irish people. He is referred to as the first British statesman who has really dared anything on their behalf. The article further focuses on the financial and political position of Italy.

This article presents information on some recent socio-political developments. It is informed that there seems to be some misapprehension with regard to the question of damages under the findings of the Arbitration Tribunal. The only precise award of damages which the arbitrators could make, in accordance with the treaty, was for the abstention of British subjects from sealing during the pendency of the arbitration or for the limiting of the catch by the American Government, in case its claim of exclusive jurisdiction were sustained.

This article presents information on several recent socio-political developments. It is informed that both the houses of Congress have passed the bill which dealt with expediting prosecution in the U.S. courts under the Interstate Commerce Act or the Sherman anti-trust law. No objection was raised in either Senate or House. It is opined that with the passage of the said bill, decisions on anti-trust cases will expedite. This particular objective served by the bill was so eminently desirable that even contentious congressmen could not discover any reason for opposing or delaying the passage of the bill in question.

Much legislation dealing with rural credits has been enacted by the nation and the United States during the last four years, hut only the smaller portion of it has been put to use. It is barely being' used in the most thickly settled and fertile sections, where the possibilities are naturally and immeasurably the greatest quickly increasing the land's productivity so as to meet the pressing and immediate needs of the world. The legislation is the outcome of a movement which had a right inception, but which developed tendencies to set aside old-established principles of rural banking and finance, and to give the farmer the use of public funds and credit or to place him under the guiding hand of Government or of benevolence.

The article presents information related to several political and economic issues. Joseph C. Cannon of Illinois is the low-tariff, anti-subsidy candidate for the Speakership of the next House, if the Republicans have a majority of that body. Cannon was the first man who made a break against that clause of the Chicago Platform which demanded the repeal of the whiskey tax rather than the surrender of any part of protective system. He has been for years an uncompromising opponent of steamship subsidies, and in one case at least prevents the House from concurring in a Senate bill which had the subsidy feature attached to it. According to another information, the anti-pooling clause of the Inter-State Commerce Law is discussed in the annual report of the Commerce Commission in a spirit of fairness and good sense.

The article presents information on books relating to law. "Treatise on the Law of Sales of Goods, Wares, and merchandise as affected by the Statute of Frauds" by John F Baker. The author has chosen one of the most perplexed parts of the subject and he has produced a useful book. The practitioner will find here the important cases, down to the latest ones and the author's method of making large quotations and statements from the cases in his text puts the reader in possession of much material towards the formation of correct opinions. The second edition of Mr S. W. Worthington's "Treatise on the Statutes of Elizabeth against Fraudulent Conveyances, the Bills of Sales Acts, 1878 and 1882 and the Law of Voluntary Dispositions of Property" has been adapted to the considerable changes of the last fifteen years and largely rewritten.

The Opium Committee has noted, regretfully, the scale on which the illicit traffic continues, but has done nothing fundamental--no blow has ever been struck at the source. The committee has constantly spoken of the necessity for "control," but its suggestions have always been vague. Now they were suddenly offered a scheme for absolute and complete control, worked out pains takingly to the most minute detail. For example, the internal trade must be controlled by certificates, issued each time a purchase is made from a factory or from dealer to dealer.

This article presents economic data on the U.S. railroad industry with focusing on valuating ambitions for the future. It reports that, the Association of Railway Executives just laid before the Interstate Commerce Commission its case for increasing the expenditures-and consequently, the revenues-of transportation lines for the year beginning September, 1920. Virtually a horizontal increase of 20 per cent over the present charges for carrying freight is asked in order to raise $1,017,000,000 more than rates will yield on this year's calculation. This property investment account is reckoned by the railroads to be $20,617,000,000. It is believed that the Interstate Commerce Commission will arrive at that figure in the estimate which the law prescribes as the basis for new rate makings.

A sense almost of hiatus marked the sessions of the various associations which held their annual meetings at Richmond during the last week of the year. The American Economic Association, the American Sociological Society, the American Statistical Association, the American Association for Labor Legislation and the American Association for Agricultural Legislation furnished to their members and a few of the local Richmond public a wide variety of interesting programmes-only too many and too attractive for those ambitious to "cover" everything of special interest. The chief session of the final evening, arranged by the American Economic Association, dealt with the Economic Bases of Permanent Peace.

It was recognized by the experienced observer, in the early months of 1912, that a very thorough process of liquidation and readjustment had been carried out in the U.S. Business had been brought to a sound and conservative basis. Position in international finance had become that of creditor rather than debtor and had abandoned a mass of extravagant and fantastic ideas which had been leading markets into trouble, and that were in a position to get the benefit of any really favorable turn in commerce and agriculture which might fall to lot.

The large business of the U.S. has been in desperate need of being "reassured." Great bankers and leading captains of industry have been waiting with bated breath for what U.S. President William Howard Taft might say in his announced Iowa speech on the relations of the Government to business activity. There was the same firm declaration that the U.S. Department of Justice must and would prosecute all business combinations in violation of the law. Taft affirmed, as he had repeatedly done before that the Government has no desire to injure legitimate business.

Presents letters to the editor on various issues. Commercial laws of Venezuela governing commercial disputes; Effect of hot bread eating on the health of a reader of the periodical "The Nation;" View of a reader of the periodical on a letter "Hot Bread," which was previously published in the periodical.

The article presents information on finance in relation to Germany. In spite of the common belief that foreigners' money in Germany is tightly locked up under the bankers' Stillhaltung agreement, funds have been escaping from the Reichsbank and over the national borders at such a rate as to furnish occasion for the rumor that Germany would shortly abandon the "gold standard." The gold standard in Germany today is of course a myth, judged by any reasonable definition of the term. When a country suspends payments under a moratorium freezing agreement, or other device, it goes off the gold basis quite as definitely as when the central bank announces that it will no longer sell.