Introduction: early opposition, 597. — Impediments to Negro employment: employer attitudes, 600; union attitudes, 605. — Methods of introducing Negro labor: Lockheed-Vega, 608; North American, 610; Wright Aeronautical, 611. — Labor utilization: over-all increase in Negro workers, 613; particular labor markets, 615. — The rôle of labor unions, 621. — Conclusion, 623.

Public hostility towards “excessive payments” ' to corporation executives, 170. — Reasons for this hostility, 171. — Sources of information, 171. — Definition of terms, 172. — Nature of the data available, 172. — Dollar payments by large companies, 173. — Distribution of aggregate payments, 175. — Relation to sales and earnings, 177. — Relation to functions, 177. — Payments by smaller companies, 179. — Relation to sales and earnings, 181. — Relation to functions, 181. — Summary of conclusions, 182.

It has been suggested by several authors' that money be issued against surrender of certain goods and that the issuing agency (we shall call it or simply mint) release these goods against surrender of such money. This money could consist of special certificates, which could circulate in parallel to national currencies without having a fixed exchange rate to them. This would allow experimentation on small scale, without interfering with existing monetary circulation and confining the risk to those who freely consent to accept and use the commodity certificates. It is believed that such commodity certificates could prevent depression and unemployment because if an entrepreneur could pay wages and other expenses with them, then he could continue production even if sale to actual consumers is not warranted: unsold products could be surrendered to the commodity mint. The success of any such scheme depends on the following three factors: 1. An adequate selection of the types of commodities eligible for coinage. These should be durable goods least subject to deterioration and obsolescence. Extension could be made to services such as electric power, etc. It is outside the scope of this paper to make suggestions in this respect. 2. An efficient and inexpensive way to store the commodities. It is believed that the most efficient way would be to leave the commodities against which certificates are being issued (we will call the aggregate of these commodities stock) on the premises of responsible producers, under earmark, the lien on them being released as they are repurchased by him for sale on the free market.2 Such a producer would engage himself to act as an agent of the mint and to surrender such coined goods at coinage prices to holders of commodity certificates. To ensure this, the mint could retain a certain part, say 20 per cent, of the coinage price. When goods were sold, the producer would repay to the mint the part of the coinage price that he had obtained and the balance would remain his. He would be free to sell below coinage price whenever

TWO surveys of the operating expenses of Canadian manufacturers have been made in the last twenty-five years. The fLrst covers all establishments reporting to the Dominion Bureau of Statistics for the Census of Manufactures in each of the five years I9I 7 to 192 I; the second, undertaken for the Royal Commission on Dominion-Provincial Relations in I938, covers in greater detail a limited but fairly representative group of manufacturers for each of the years I929, I933, and I936. The present paper describes the origin, methods, and results of the second or I938 survey, and provides a summary of the I9I7-2I study. In addition, it attempts to arrange the results of both surveys in comparable form.' Because of the difficulty of securing reliable figures by the method employed in the I938 survey, special attention is given to the representativeness of the results. Certain details of importance for the text will be found in appendices. Among the tables presented, Table 9 is of most general interest, while certain applications of the results will be found in Tables io and i i.

Abstract The extensive plans of the American Institute of Accountants for organized research are a highly promising feature of near-future developments in accountancy. And suggestions made at meetings of the American Accounting Association regarding a statement of cost accounting principles and an analysis of the curriculum problems involved in accounting education point in the same direction. Another suggestion has recently appeared which could be made a basis for enlarging the extent of accounting research activities and coordinating the projects in that field. It comes from Gay Carroll, controller of the Humble Oil and Refining Co., and was made in the course of an address on December 19, 1944, before the Houston Control of the Comptroller's Institute. Accounting principles and technical standards are of such broad significance that their usefulness extends beyond any single organization. Therefore their formulation in words, or when necessary, their later restatement, should be of interest to all organizations in contact with accounting.

Abstract Public accountants have had a growing conviction for some time that the Certified Public Accountant laws are in need of carefully considered modernization. Now, after extended consideration in committee, the American Institute of Accountants has published a form of bill that state societies will find useful in planning new legislation. If public accounting is to be widely and effectively recognized as a real profession, it has need of statutory recognition of just such aspects as restriction, discipline, education. This will not imply that legislation can create a profession out of an occupation. A profession creates itself. Technical competence comes from study and experience only. The need of the public for technical services arises more from the Complexities of business than out of legislation. And the most effective discipline is self-imposed. Public accountants have created high standards of discipline and have educated themselves to high professional competence. Public accounting in the U.S. has developed until it has come to serve an important public function.

Abstract Reviews the book "Andrea Barbarigo, Merchant of Venice, 1418-1449," by Frederic C. Lane.

Abstract Representative programs from sixty colleges and analyses of them have appeared in four earlier issues of periodical The Accounting Review. In the section published in October the educational pattern was presented in a number of frequency tables showing the distribution of courses among the several departments of instruction. It is now proposed to show the pattern as it is reflected in the titles of the courses taken by this group of sixty students. The commerce courses will be examined first. These include accountancy, economics, business administration and business law. The data about courses in non-commerce subjects will follow. The content of a specific course is not too well foreshadowed by the title of the course. And this limitation would still apply in some degree if the text book used were also named. Although course names are not standardized and sometimes seem unnecessarily vague, they nevertheless can furnish some useful clues to the educational pattern followed by the students concerned. For students who major in accountancy, the courses in that department naturally bulk large in most programs. At the top of the list are the courses called by various titles that indicate they are introductory and intermediate.

Abstract Colleges and universities are attempting to serve the public by providing the type of education necessary to supply well-trained citizens who will fill a proper place in the society. In their accounting work, it is their desire to carry on a program, which will serve the profession. The author is surprised and perplexed at the antagonistic tone of occasional articles by both practitioners and educators. Mutual understanding is desirable. The profession looks to the educational institutions for the stock from which most of the future professional accountants will come. The educational institutions are training people for accounting careers and look to the public accountants for employment for many of their graduates. Thus the practitioner and the educator have mutual interests. Close cooperation should be beneficial to both. In the postwar period no one should lose sight of the fact that educational institutions want to serve the profession in providing adequate preparation for an accounting career; teachers are anxious to work with men in the profession in solving mutual problems which will arise; and men of experience.

Abstract The article presents information on the accounting exchange. Plans are being made that have much promise for bringing the American Institute of Accountants and the American Accounting Association into close cooperation for considering the educational problems of accountancy. Joint meetings are being planned to explore ways of finding and expressing ideas that may aid in the continued development of education for careers in accountancy. It is evident from the tentative agenda of topics for discussion, that plenty of useful work is waiting. Some of the topics for discussion are: (1) curricula for persons preparing for accountancy, (2) programs for the employment of college graduates best qualified for public accountancy, (3) desirable content for a pamphlet for the use of persons planning for careen in accounting. (4) preparation of an up-to-date bibliography of important books on accounting and its related fields of specialization, (5) policy to be followed by the Institute in meeting requests for recommendations as to schools in which to study accounting (6) programs of staff training and (7) plans for lectures by members of the Institute before student bodies.