The "excess burden" doctrine, 577. — I. Marshall's analysis, 578 —. Mrs. Hicks' reformulation, 579. — J. R. Hicks on "compensating variations in income, " 579. — Miss Joseph's analysis, 579. — II. Excess burden not peculiar to indirect taxes, 582. — Comparison with income taxes, 586. — Progression, 587. — Compensation for subjective costs, 590. — III. Other economic effects of taxes, 591. — IV. Commodity and income taxes in the light of "ideal" requirements, 594. — V. Conclusions, 596.