I. Introduction. Three concepts of velocity defined. — Various senses in which the term price level is used, 36. — II. Turnover of Media. Use of the turnover concept by Irving Fisher, J. M. Keynes, and R. G. Hawtrey, 37. — The neutralization of changes in turnover of media by changes in turnover of commodities, services, and securities, 44. — Support for this a priori contention found in the statistical studies of Carl Snyder, 48. — III. The Balance Concept of Velocity. Use of the concept by Irving Fisher, J. M. Keynes, and R. G. Hawtrey, 52. — Objections to the use of the concept, 55. — IV. The Expenditure Ratio. The relative merits of the expenditure ratio concept and the balance concept, 59. — The probability of the practical occurrence of changes in the expenditure ratio, 61. — Antithetical movements of consumers' and the business expenditure ratio, 63. — Exact neutralization of changes in expenditure ratios by changes in the other factors of the equation possible but improbable, 65.

Spread of Raiffeisen type to the Orient, 484. — Famine the impetus to the movement in China, 485. — The model constitution of 1923, 486. — The Central Bank and its policy, 487. — Its educational activities, 489. — Credit unions, 491. — Growth of coöperatives, 491. — Status and purpose of loans, 492. — Comparative cost of loans, 495. — The outlook, 496.

I. The argument that labor-saving improvements release purchasing power and so reabsorb displaced labor, 684.— The fallacy in this argument, 686.— Circumstances under which the displaced labor will be reabsorbed, 687.— II. Effect of price reduction, 688; of restrictions upon credit and wage rates, 690.— III. Effect of price maintenance, 692; of lower interest rates, 693.— IV. The effect of universal monopoly upon unemployment, 696.— Quasi-monopoly control of prices contrasted with rigid control of wage-rates, 697.

The purpose of the elementary accounting courses given at the Chicago, Illinois-based University of Illinois is to give the students a thorough knowledge of basic transactions and fundamental procedure. Much of the material given in elementary accounting course can be disregarded when an examination is prepared because it represents routine work. Subjects such as, the classification of accounts, the preparation of short financial statements, adjusting entries, closing of the ledger, and books of original entry are included in the first-semester examination. The second-semester course is devoted more to accounting procedure and so for this reason the final examination given in the second semester may be counted upon to have a large number of difficult journal entries covering a wide variety of transactions. The examination for the second semester may include problems such as requiring adjusting entries, where the amount must be calculated as well as entries formulated, requiring the opening of the books of a corporation, or requiring the changing of a single proprietorship or partnership.

Reviews the book "Accounting and Cost Finding for the Chemical Industries," by George A. Procheska.

Reviews the book "Income Tax Accounting," by J.F. Sherwood.

Reviews the book "Mortality in Retail Trade."

Reviews the book "Patent Accounting," by B.L. Klooster.

The article presents an interview with the author on the teaching of cost accounting. The article also presents comments of scholar Gould L. Harris on answers given by the author. In response to a query about the future use of cost accounting by students, the author replied that during the last ten year I have made a practice of asking my cost accounting students whether or not they expected to work in a factory after graduating. Less than five percent replied in the affirmative. This percentage is all the more important because most of my students have been residents of Washington and Baltimore. Therefore, it can be stated that the main purpose of the Cost Accounting course is not to directly prepare students for future work in factories. Indirect uses students will make of cost accounting seem to be chief reasons for giving the course. All students will use ideas that are given of, accounting controls, systems of internal check, computing costs according to suitable bases, departmentalization of expenses, detailed interlocking of paper work, adaptation of paper work and accounting routine to meet local company's condition, preparation and use of budgets, use of budgetary reserves and preparation and use of accounting reports.

Reviews the book "Rational Bookkeeping and Accounting," by Albert G. Belding and Russell T. Greene