INDEX TO THE ECONOMIC JOURNAL ORIGINAL ARTICLES:- Ashley, Prof. W. J., American Trusts Bastable, Prof. C. F., The New Budget and the Principles of Financial PAGK Row-Fogo, J. A., Local Finance in Scotland 184 Agnelli, Arnaldo, Libero Scambio. By Prof. C. F. Bastable 243 Ashley, Prof. W. J., Translated and Edited by, Reflections on the Formation and Distribution of Riches, by Turgot. By Henry Higgs... Bernstein, Eduard, Die Voraussetzungen des Sozialismus und die Aufgaben Brentano, Prof. Lujo, Gesammelte Aufsätze. By Ernest Schuster Brough, William, Open Mints and Free Banking. By L. Darwin Brown, Mary Willcox, The Development of Thrift. Census, The Federal, Edited by a Special Committee. Chance, W., M.A., Our Treatment of the Poor. By Helen Bosanquet Children's Labour Question, reprinted from The Daily News. By Helen Cohn, Prof. Gustav, System der Nationalökonomie. By Prof. W. J. Ashley... 256 Davidson, Prof. John, The Bargain Theory of Wages. By Prof. F. Y. Devine, Edward Thomas. Ph. D., Economics. By Edwin Cannan Diehl, Prof. Dr. Karl, Ueber das Verhältnis von Wert und Preis im ökonomis- Giddings, Franklin Henry, The Elements of Sociology. By Prof. H. Sidgwick 411 Hall, Fred. S., Sympathetic Strikes and Sympathetic Lockouts. By Ernest Howard, E., To-morrow: A Peaceful Path to Real Reform. By F. M. Butlin Hull, Charles Henry, The Economic Writings of Sir Willian Petty, together with the Observations upon the Bills of Mortality, more probably by Captain Inama-Sternegg, Dr. Karl Theodor von, Deutsche Wirtschaftsgeschichte. By Knapp, Georg Friederich, Grundherrschaft und Rittergut. By Prof. W. J. Loria, Prof. Achille, La Costituzione Economica Odierna. By J. Bonar Mabilleau, Léopold, Rayneri, Charles, and Count de Rocquigny, La Prévoyance Macfarlane, C. W., Value and Distribution: an Historical, Critical, and Constructive Study in Economic Theory. By Prof. F. Y. Edgeworth Mantovani, Felice, Bilanci di Trenta Famiglie di Contadini in Provincia di Masè-Dari, E., Sul Bilancio dello Stato. By Prof. C. F. Bastable Massart, Jean, et Emile Vandervelde, Parasitisme organique et parasitisme Mayo-Smith, Richmond, Statistics and Economics. By L. L. Price Menger, Dr. Anton, The Right to the Whole Produce of Labour; the Origin and Development of the Theory of Labour Claim to the Whole Product of Micheli, M. Horace, State Purchase of Railways in Switzerland. By W. M. 69 REVIEWS (continued) — PAGE Neymarck, Alfred, Vocabulaire Manuel d'Economic Politique. By E. Castelot 236 224 Ogilvy, A. J., The Third Factor of Production, and other Essays. By J. 74 Orueta, Clemente Vidaurre y, Economia Politica. By Prof. F. Y. Edgeworth 441 Philippovich, Prof. E. von, Grundriss der Politischen Oekonomic. By J. Bonar 417 442 ... 226 Rodbertus, Karl, Overproduction and Crises. By Prof. E. C. K. Gonner 77 By Edwin Cannan 260 Seligman, Prof. Edwin, The Shifting Incidence of Taxation. By Prof. C. F. 240 ... ... ... Sites, Clement M Lacey, Centralised Administration of Liquor Laws in the Villey, Prof. Edmond, L'Euvre Économique de Charles Dunoyer. By J. Virgilii, F., e Garibaldi, C., Introduzione alla Economia Mathematica. Study in Statistics. By Prof. F. Y. Edgeworth 558 426 Wright, Carroll D., Outline of Practical Sociology. By A. L. Bowley 555 Woods, Robert A., The City Wilderness. By J. Carter NOTES AND MEMORANDA :- Acworth, W. M., Professor Cohn and State Railway Ownership in England... 92 569 277 136 Bradby, Barbara L., and Anne Black, Women Compositors and the Factory Brooks, John Graham, Organised Labour in the United States 88 Burlumi, Theodore A., The Overproduction of Currants 633 Butlin, Frances M., International Congress of Women... 450 Chapman, S. J., The Trades Union Congress and Federation 80 The Regulation of Wages by Lists in the Spinning In- Cohn, Gustav (Translated by C. A. Foley), State Railways and State Revenue in Prussia 592 93 NOTES AND MEMORANDA (continued) — PAGE Dawson, William Harbutt, The Housing of the Working Classes in Germany 445 266 Duckworth, Arthur, The Economic Aspect of Australian Federation 322 125 Political Economy 286 ... Flux, Prof. A. W., The Danish Lock-Out 455 599 605 625 101 Hutchins, B. L., Notes towards the History of London Wages Ilbert, Lettice, Labourers' Dwellings Jastrow, Henriette, Domestic Servants in Germany Kiaer, A. Th., The Norwegian System of Regulating the Drink Traffic Oncken, August, New Tendencies in German Economics Seligman, Prof. E., on the Mathematical Method in Political Economy ... An Opening for British Enterprise 116 286 469, 651 611 315 Wood, George Hy., The Course of Average Wages between 1790 and 1860 588 ... 85 Z., Successful Profit-Sharing 585 Trüdinger, Otto (Translated by C. A. Foley), State Protection of Industry ... Westergaard, Prof. Harald, Mortality in Extreme Old Age ... RECENT PERIODICALS AND NEW BOOKS... 150-160, 342-352, 494-504, 674-687 THE ECONOMIC JOURNAL MARCH, 1899 OUGHT MUNICIPAL ENTERPRISES TO BE ALLOWED TO YIELD A PROFIT?1 WHATEVER views he may hold as to the remote future, I do not suppose any one will be inclined to deny that just at present in this country the economic work-the purely and obviously economic work-of municipalities and similar local governments is increasing in importance, not only absolutely, but also in proportion to the whole of human economic activity. So if an English economist holds that economics ought to be useful to the population of this particular planet, not merely as an intellectual exercise affording food for thought and speculation, as Adam Smith says of religion, but also as affording some guidance in practical affairs, he is bound to endeavour to give some general answers to the important questions to which the extension of municipal economic activity gives rise. One of the most important of these questions is: Should municipal enterprises pay, or should they be worked at cost price?—should they bring in where possible something in aid of the general rates of the locality, or should all such aid be foregone by the general body of ratepayers? Recently a Minister of the Crown, who had considerable municipal experience many years ago, likened a municipality to a joint-stock company. If the parallel were exact, there would be an end to the question which I have propounded, for no one supposes that joint-stock company enterprise could be carried on if dividends were disallowed. But the parallel is not at all exact. It is a useful comparison, however, and we cannot do better than approach the question with a brief review of the 1 Read before Section F of the British Association, 1898. No. 33.-VOL. IX. |