THE QUARTERLY JOURNAL OF ECONOMICS VOLUME XXVIII CAMBRIDGE, MASS., U. S. A. CONTENTS FOR VOLUME XXVIII ANDERSON, B. M., Jr. "Unearned Increments," Land Taxes and -811 Railroads. The Development of Alaska by Government 322 A Contribution to the Theory of Competitive Price COOKE, T. Four Years More of Deposit Guaranty CURTIS, J. F. The Administrative Provisions of the Revenue Act Later Developments in the Union Pacific Merger Case DIETZ, F. C. Industry in Pisa in the Early Fourteenth Century IV. The Alleged Advantages of Combination 677 JOHNSON, A. S. Davenport's Economics and the Present Prob- GEPHART, W. F. Fire Insurance Rates and State Regulation ciples of Public Utility Valuation HILL, J. A. The Income Tax of 1913 PERSONS, W. M. Books on Business Cycles: Mitchell, Aftalion, 795 Mediation and Arbitration of Railroad Wage Controversies: SPRAGUE, O. M. W. The Federal Reserve Act of 1913 TAUSSIG, F. W. Abraham Lincoln on the Tariff: A Myth. Note 814 SUBJECTS Abraham Lincoln on the Tariff: A Myth. Note. By F. W. Agricultural Credit in the United States. By J. E. Pope British Super-Tax and the Distribution of Income. By A. L. Business Cycles, Books on. By W. M. Persons. Rewiew Clark Davenport's Economics and the Present Problems of Theory. Deposit Guaranty, Four Years More of. By T. Cooke Development of Alaska by Government Railroads. A. H. Brooks Development by Commissions of the Principles of Public Utility Valuation. By R. E. Heilman PAGE 701 561 255 795 By 417 Note. By 586 269 Depreciation and Rate Control. By A. A. Young 630 558 Federal Reserve Act of 1913. By O. M. W. Sprague 213 Fire Insurance Rates and State Regulation. By W. F. Gephart 447 373 Public Ownership of Telegraphs and Telephones. Note. By A. N. Scientific Management, Literature of. By C. B. Thompson III. Ultimate Results of Permitting and Regulating Com- IV. The Alleged Advantages of Combination Union Pacific Merger Case, Later Developments in. By S. Daggett "Unearned Increments," Land Taxes and the Building Trade. Note. THE QUARTERLY JOURNAL OF ECONOMICS NOVEMBER, 1913 THE TARIFF ACT OF 1913 SUMMARY " in The principle of a competitive tariff,” 1.—“Legitimate dustries, 3. The Tariff Board and the methods of revision, 5.Sugar duty lowered at once, to be abolished after three years, 8. Wool free, 11; lower ad valorem rate on woolens, 13. The probable consequences, 15. — Moderate rates on cottons, 17.- Comparatively high rates retained on silks, 20. — Other changes: pottery (23), iron and steel (24), free list extended (25). - Administrative sections strengthened, to prevent evasion of ad valorem rates, 26.- Many reductions will be only of nominal effect, 28. What the future may bring, 29. THE Tariff Act of 1913 is described both by friends and enemies as a radical measure. It is said not only to lower duties, but to introduce new methods of assessing them and to rest upon principles essentially different. How far can it be said to make sweeping changes? The new principle of which most has been made by the advocates of the act is that of a competitive tariff." In 1909, the Republicans had professed to act on quite a different principle, that of equalizing cost of production. These two have been set forth by both sides as starting from opposite poles in the |