I. Origin of the split inventory. — Definition, 493.—The splitting date, 494. — Built-up value, 494. — Relation to pre-war valuation procedure, 495. — Objects of war-time valuation, 497. — Other war-time methods of valuation, 497. — Superiority of the split inventory, 498. — II. Development of the split inventory. — Early use of this method, 499. — Brooklyn Borough Gas case, 500. — The split inventory in the District of Columbia, 502. — The split inventory in Wisconsin, 506. — The Ashland decision, 508. — The end of the split inventory, 509. — III. The Interstate Commerce Commission and the split inventory. — The Commission's policy, 510. — The Transportation Act of 1920, 511. — The O'Fallon valuation, 512. — The source of the Commission's policy, 512. — IV. The split inventory in the Supreme Court. — The Galveston case, 513. — The Georgia case, 514. — The OTallon case, 515. — V. The split inventory in the future. — Its relation to prudent investment, 517. — Present conditions are favorable, 519. — The attitude of utilities, 520. — The attitude of the courts, 521.

I. Introduction, 523. — II. The fundamental role of budgetary deficits, 525.—III. The quantity theory, 528.—IV. Purchasing power parity, 533. — V. Conclusion, 536.

Credit Expansion. — Bank loans and investments, 95. — Urban real estate mortgages; held by banks, mortgage trusts, mutual savings banks, Life Insurance Companies, Building and Loan Associations, 96. — Farm mortgages; held by Federal Land banks, Joint Stock banks; general data, 105. — Securities outstanding, 107. — Installment selling; electrical equipment, radio industry, General Motors Acceptance Corporation, 108. — Summary, 115. — Credit expansion somewhat analogous to monetary inflation, 119. — Consequence of credit expansion: illustrated by developments in the radio industry, the automobile industry, the construction industry, 121. — Conclusion, 128.

I. Advantages and disadvantages of industrial concentration. — Possible relation to the business cycle, 131. — II. The criterion of concentration and diversification here used: value added by manufacture, 134. — Results for sixteen cities in 1919, 135. — In later years, 138. — III. Relation between industries of producers' goods and of consumers' goods, 146. — Some significant results as to concentration and business fluctuations, 148.

Reviews the book "New York Laws Affecting Business Corporations, ed. 10."

Reviews the book "Accounting for Executive Control," by Monard V. Hayes.

Reviews the book "Accounting Principles and Procedure," by Malcolm L. Goggin and Leslie Tonner.

Abstract This article focuses on the movement towards refinement of terminology of accounting. The attempt of leaders in the field to give exact definition to the various accounting terms is evidenced chiefly by the activity of the Terminology Department of American Institute of Accountants. Not infrequently there is encountered in accounting literature the thought that accounting, being an aspect of applied economics, should be cognizant of the dictates of economic theory and should attempt to portray the concepts of the economist. It is the intention of the present article first to display the economic concept of cost of production and to follow that with the accounting concept so that when they stand in contrast any similarities or dissimilarities may become apparent. The concept of cost is truly fundamental in economic analysis. In fact one author has gone so far as to state that the backbone of economic science is the balancing of value against cost. It appears at the outset that before proceeding further in a consideration of the role which cost plays in the economic scheme of things it would be well to pause and examine the nature of cost as conceived by the economist.