THE QUARTERLY JOURNAL OF ECONOMICS VOLUME XXVIII CAMBRIDGE, MASS., U. S. A. 1914 Reprinted with permission of the publishers by KRAUS REPRINT CORPORATION, NEW YORK 17, N.Y. COPYRIGHT, 1913-14, BY THE President and Fellows OF HARVARD College CONTENTS FOR VOLUME XXVIII ANDERSON, B. M., Jr. "Unearned Increments," Land Taxes and Some Economic Aspects of the New Long and 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 III. Ultimate Results of Permitting and Regulating Com- IV. The Alleged Advantages of Combination GANNETT, L. S. Bernhard's Unerwünschte Folgen der deutschen GEPHART, W. F. Fire Insurance Rates and State Regulation ciples of Public Utility Valuation 31 772 338 381 402 664 677 PERSONS, W. M. Books on Business Cycles: Mitchell, Aftalion, 795 Mediation and Arbitration of Railroad Wage Controversies: 360 RIPLEY, W. Z. Railroad Over-Capitalization 601 The Tariff Act of 1913. SECRIST, H. Home Rule in Taxation SPRAGUE, O. M. W. The Federal Reserve Act of 1913 TAUSSIG, F. W. Abraham Lincoln on the Tariff: A Myth. Note SUBJECTS Abraham Lincoln on the Tariff: A Myth. Note. By F. W. Agricultural Credit in the United States. By J. E. Pope PAGE 701 561 British Super-Tax and the Distribution of Income. By A. L. Bowley. 255 Business Cycles, Books on. Competitive Price, A Contribution to the Theory of. By J. M. Clark Davenport's Economics and the Present Problems of Theory. By A. S. Johnson 417 Deposit Guaranty, Four Years More of. By T. Cooke Development of Alaska by Government Railroads. Note. By A. H. Brooks 586 Elsas' Ausnahmetarife. Review. By S. Daggett Depreciation and Rate Control. By A. A. Young 558 Keynes' Indian Currency and Finance. Review. By E. W. 373 Public Ownership of Telegraphs and Telephones. Note. By A. N. 581 Scientific Management, Literature of. By C. B. Thompson THE QUARTERLY JOURNAL OF ECONOMICS NOVEMBER, 1913 THE TARIFF ACT OF 1913 SUMMARY The principle of a competitive tariff," 1. “Legitimate” industries, 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 1 |