# * * The Monetary Condition of India Barlow, Montague, Tithe and its Rating ... ... Bastable, Prof. C. F., Note on the Budget of 1900 ... Bosanquct, Helen, People and Houses ... ... Chapman, S. J., Some Policies of the Cotton Spinners' Trade Unions .... 467 Edgeworth, Prof. F. Y., The Incidence of Urban Rates... ... 172, 340, 487 Flux, Prɔf. A. W., Internal Migration in England and Wales, 1881–91 ... 141 Giffen, Sir R., F.R.S., Our Trade Prosperity and the Outlook ... ... ... 295 Some Economic Aspects of the War ... ... ... 194 Hewart, Beatrice, The Cloth Trade in the North of England in the Sixteenth and Seventeenth Centuries ... ... • Kershaw, Jolin B. C., An Investigation of the Cause of Trade Fluctuations... 474 McLean, Prof. S. J., Federal Regulation of Railways in the United States ... 151 State Regulation of Railways in the United States ... 349 Price, L. L., Some Economic Consequences of the South African War ... 323 according to German Law ... ... 308 .. 20 Adams, Brooks, America's Economic Supremacy. By S. J. Chapman ... ... 522 Bastable, Prof. C. F., Lt Théorie du Commere? In'ernational. By Prof. The Theory of International Trade, with some of its Au plications to Economic Policy. By Prof. F. Y. Edg:worth ... ... 389 Bawerk, Prof. E. von Böhm-, Einige Strittige Fragen der Capitalstheorie. ... 211 PAGE ... Bonar, James, and Hollander, J. H., Letters of David Ricardo to Hutchcs, Trouver and others, 1811---1823. By Prof. F. Y. Edgeworth ... ... 221 Notes for the use of Students. By George Henry Wood ... ... ... der Deutschen Wehrkraft. By Adelaide Blomefield ... ... ... 216 223 Interest. By Prof. F. Y. Edgeworth ... ... . ... ... ... 215 529 Life. By Prof. F. W. Taussig ... ... ... ... ... ... 75 ... ... ... ... ... ... ... ... ... . Welfare Institutions. By David F. Schloss ... ... ... ... By Carveth Read W. J. Ashley ... ministrution and Methods of Assessment. By G. H. Blunden ... ... 387 Southern States. By Prof. F. Y. Edgeworth ... ... ... .... 538 370 upon the Distribution of Wealth. By L. Darwin... ... ... ... 385 Blomefield ... ... ... ... ... ... ... ... ... • 78 lichen Organisation der Arbeiter und der Arbeitgeber aller Länder. By Margaret Robinson ... ... ... ... ... ... ... 218 Phelps ... By Henry Higgs von xv. bis zum xviii Jahrhundert. By Prof. W. J. Ashley ... ... American History, 1606—1775. By Prof. W. J. Ashley... REVIEWS (continued) PACE Mackay, Thomas, 4 History of the English Poor Law, Vol. III., from 1834 . to the Present Time, being a supplementary volume to “ A History of the English Poor Law," by Sir George Nicholls, K.C.B. By Rev. L. R. Phelps 80 Ashley ... ... ... ... ... ... ... ... ... ... 372 Higgs ... 372 F. Y. Edgeworth ... ... ... ... ... Methods, and Progress. By Edwin Cannan... ... .. Flux ... ... ... ... ... ... ... ... ... ... ... ... ... 372 Schloss ... ... ... ... ... ... ... South Wales. By Prof. W. J. Ashley ... ... ... ... ... Fisher ... ... ... ... ... ... Vol. II., The West. By F. W. Taussig ... NOTES AND MEMORANDA :- 91 121 245 Barlow, Montague, The Economic Legislation of the Year 1899 552 575 ... 245 258 232 251 105 411 103 England ... ... 574 THE ECONOMIC JOURNAL MARCH, 1900 THE PROMOTION OF COMPANIES AND THE GERMAN LAW.1 GERMAN Company Law was entirely changed and recast by a statute passed in 1884, which introduced a number of checks and restrictions of an entirely novel character. Many fears were expressed at the time. All enterprise was to be hampered in the future and driven to foreign countries. No persons of means and standing were to be found who would incur the liabilities and risks to which directors and promoters were to be subject under the new state of things. Sufficient time has now elapsed to show that the forecast of these prophets of evil was based on misapprehension. The statistics prove conclusively that the formation of new companies, far from being arrested by the greater stringency of the law, has been progressing in a most remarkable manner, and that the career of German companies has, on the whole, been most prosperous. Some of the new I See Ring, Aktiengesetz 2nd. ed. Berlin, 1892 ; Pinner, Das Deutsche Aktienrecht; Berlin 1899; Esser, Die Aktiengesellschaft, Berlin, 1899; Riesser, Die Neuerungen im Deutschen Aktienrecht, Berlin, 1899. 2 There were in Germany in 1896 according to Professor R. van der Borght's estimate (Conrad's Handwörterbuch, Vol. I., 2nd, edition, pp. 192–194) 3712 companies limited by shares with a total paid-up capital of over £340,000,000, and with reserve funds amounting altogether to £58,000,000; the annual net earnings of 3249 companies amounted to about 32,400,000, or about 10 per cent, of the paid-up capital. It is safe to assume from the figures given that not less than one-half of the total number of these companies were formed after the Act of 1884. In the blue book published by the departmental committee of the Board of Trade in 1895 (7779) a letter is quoted from Mr. Gerb of the British Consulate General at Berlin estimating the total paidup capital at £200,000,000, (see p. 29). I showed at the time (see p. 30) that the capital must be at least £300,000,000, and the statistics given in the text prove conclusively that Mr. Gerb's estimate was still further from the truth than I suspected. No. 37.-VOL X. |