Abstract This article makes an attempt to rationalize the relationship of accounting instruction to a liberal course of study. The lack of uniformity as to the extent and as to the type of accounting instruction offered by liberal arts colleges leads one to believe that rationalization upon this subject has not been conclusive. For the last thirty years, the addition of courses in Economics, Commerce, and Business Administration is one of the outstanding developments in the content of the curricula of colleges and universities in the U.S. The principle which differentiates schools or courses of instruction is to be found in the fundamental purpose which they are designed to serve. In a professional school courses are designed and taught with the idea of preparing men for some special function or profession in life. Accounting maybe described as intelligent counting. It is as essential in the determination of the facts of economic and business experience as are sound and adequate laboratory and field methods in the field of natural science.

Abstract Accounting is recognized as one of the basic tools of quantitative measurement essential to the proper control of business and the accurate analysis of its problems and as such is generally considered to be a fundamental subject in the professional training for business administration. The following study has been made with the purpose of determining what the members of the American Association of Collegiate Schools of Business are doing to further education in accounting. Every collegiate school of business offers a course of elementary accounting which usually takes a year to complete and carries from three to five hours credit per semester. Although the content varies to some extent among the institutions. Very few of the institutions under discussion offer more than one course in auditing. Cost accounting is another standard course in these schools. It is either a one or two semester course with credit ranging from two to six semester hours. Courses in C.P.A. problems or advanced accounting problems are offered by a majority of the members of this association.

I. Introduction, 462. — Failure of railroad regulation to accomplish the larger and ultimate object of regulation, 463. — The present problems of terminal regulation, 464. — The six categories of regulation, 465. —II. Analysis of Interstate Commerce Commission's Policy, 465.—The obligations of a rail carrier to perform switching services, 466. — The obligations of a carrier to build switch connections and to charge demurrage established, 471. — The obligations of a carrier to absorb terminal charges in certain traffic not effectively controlled in the absence of separation of terminal and Une haul charges, 474. — The obligations of a carrier to permit joint use of its terminal facilities not successfully established, 480. — The legality of terminal associations established, 483. — III. Conclusion: The Strength of the Interstate Commerce Commission's Policy, 484. — The conservative interpretation of the provisions for joint use of facilities, 486. — Unsatisfactory control of terminal charges, 486. — Need of a practical policy which conforms to recent conceptions of public interest, 490

PROFESSOR EINAUDI has raised an interesting question in his note on " James Pennington or James Mill: An Early Correction of Ricardo," published in the November number of this Journal (

Reviews the book "Die Kapital-Und Erfolgsrechnung als Grundlage der Wirtschaftlichkeitsmessung," by Adolph Hertlein.

Reviews the book "The Control of Distribution Costs and Sales," by William B. Castenbols.

Reviews the book "The New Place of the Stockholder," by John H. Sears.

Abstract Efforts are being made at Columbia University, New York to correlate the subjects on law, economics and business. Efforts are made to introduce the subject of accounting in the law school curriculum. A good deal of difficulty in arriving at any sort of agreement as to what phases of the subject should be taught, what methods should be used, and what the content of the various courses should be is constantly met with. At the present time the Law School is giving a course in accounting as part of its curriculum. In this course the instructor is avoiding the teaching of what may be called the "mechanics" of accounting. In other words, he makes no effort to teach such things as postings, trial balances, etc. The method tentatively adopted is the presentation of problems with accounting data whose solution involves an application of rules of law. The experiment is still too young to permit very definite conclusions as to its usefulness. It is believed however, that the idea is a sound one and that one may take a measure of satisfaction from the fact that the Law School has definitely recognized the necessity of an accounting course.