In support of the theory of renegotiation, the author has mentioned a concept which was not developed last year. It has been a great many years since the theory was developed that the government had the right to regulate and fix the prices of services of public utilities, that is,of businesses which are vested with a public interest. Under that theory, innkeepers and common carriers were regulated a century and a half ago. More recently, the railroad, electric, gas, telephone, telegraph, warehouse, bus and other businesses have been regulated. In wartime, there is virtually a state of monopoly because the government needs everybody's services so badly that competition does not exist. It needs the product of every plant and must have it at whatever price. Certainly the government and the well-being of the public are sufficiently dependent upon the results of the production of war material that it cannot be said that such production is not vested with a public interest. The Revenue Act of 1943, after four rather complete and comprehensive Congressional investigations of renegotiation, substantially amended the Renegotiation. Act

The article presents information on the accountants in the Office of Price Administration (OPA). The operation of OPA are divided into two parts, the national office in Washington D.C. and the offices in the field. In the national office, interest is primarily directed toward preparation of regulations, formulation of general over-all Policy; making surveys on a national scale of those commodities subject to price control, post-auditing the decisions of the regional office and in certain instances, handling some price adjustment. The Accounting Division in its national office and field operations acts more as an integrated unit than do the operating departments. Within this division, there are also certain well-defined areas of authority and responsibility; but the individual offices come to the aid of each other whenever it is necessary and convenient. Personnel of the national office will come to the assistance of the District Accountant and District Accountants have sent members of their staffs to another district for short periods