FRANKFURTER and GOLDMARK-Oregon Minimum Wage Cases (J. T. Young) 234 GILMAN-Principles of Accounting (A. T. Cameron). . 228 HURLEY-Awakening of Business (J. T. Young). 236 JONES (Ed.)-Workmen's Compensation Laws of the States and Territories of the United States... 234 KEMMERER-Modern Currency Reforms (E. E. Agger).. 228 LAUCK and SYDENSTRICKER-Conditions of Labor in American Industries (J. 234 LYON-Corporation Finance (W. H. S. Stevens). 229 MARQUIS (Ed.)—Who's Who in America, 1916–17.. 236 PAINE-Paine's Analysis of the Federal Reserve Act and Cognate Statutes (F. 230 STETSON, et al. Some Legal Phases of Corporate Financing, Reorganization and Regulation (J. J. Sullivan).. THOMPSON-How to Find Factory Costs (W. D. Gordon). WICKWARE (Ed.)—The American Year Book, 1916.. 231 228 236 ECONOMICS GIBBS-The Minimum Cost of Living (N. D. Hitchcock). KLEENE-Profit and Wages (W. H. Hamilton). MCPHERSON-How the World Makes Its Living (W. I. King). MONTGOMERY-1917 Income Tax Procedure (R. G. Blakey). O'HARA-Introduction to Economics (W. I. King). ROSE-Feeding the Family (N. D. Hitchcock). RYAN-Distributive Justice (W. H. Hamilton).. SCHEFTEL-The Taxation of Land Value (F. T. Stockton) POLITICAL SCIENCE BIGELOW-Breaches of Anglo-American Treaties (J. W. Garner). JONES-Caribbean Interests of the United States (J. C. Ballagh) . TREITSCHKE-Politics (C. L. King).. WEYL-American World Policies (P. Brown). SOCIOLOGY FAIRCHILD-Outline of Applied Sociology (M. Parmelee). STEINER-Nationalizing America (J. P. Lichtenberger). 237 239 237 238 237 237 239 240 240 241 242 242 243 244 FOREWORD It will be of interest to the members of the Academy to know that the Annual Meeting Committee had completed plans to devote the Twenty-first Annual Meeting to a topic quite different from that which was finally selected. The change was made immediately after the delivery of the President's momentous address to the Senate on the 22d of January, 1917. The international program, outlined by the President in this message, made it incumbent on a national organization such as the Academy to bring to bear on the vital issues involved the best thought of the country. With the outbreak of the war there were some of our members who felt that the Academy should abandon the idea of holding a national conference on our foreign policy at a time when the United States was actively participating in the conflict. After the most careful consideration of the situation, the officers of the Academy and the Annual Meeting Committee reached the conclusion that the fact that the United States was engaged in the conflict made the obligation all the more clear to consider in a scientific and non-partisan spirit the great issues involved. The expectations entertained have been fully justified by the widespread national interest aroused by the discussions of the recent annual meeting. The Academy is under obligation to those who participated in the sessions, not only for their valuable contributions but also because of the elevated spirit, free from prejudice and partisanship, which dominated all the speakers. The officers of the Academy also desire to take this opportunity to express a deep sense of appreciation to those who served on the several committees, as well as to the contributors to the special Annual Meeting Fund which made it possible to hold so momentous a national conference. L. S. ROWE, President. THE WORLD CONFLICT IN ITS RELATION TO AMERICAN DEMOCRACY BY WALTER LIPPMANN, Editorial Staff, New Republic, New York. I The way in which President Wilson directed America's entrance into the war has had a mighty effect on the public opinion of the world. Many of those who are disappointed or pleased say they are surprised. They would not be surprised had they made it their business this last year to understand the policy of their government. In May, 1916, the President made a speech which will be counted among the two or three decisive utterances of American foreign policy. The Sussex pledge had just been extracted from the German government, and on the surface American neutrality seemed assured. The speech was an announcement that American isolation was ended, and that we were prepared to join a League of Peace. This was the foundation of all that followed, and it was intended to make clear to the world that America would not abandon its traditional policy for imperialistic adventure, that if America had to fight it would fight for the peace and order of the world. It was a great portent in human history, but it was overshadowed at the time by the opening of the presidential campaign. Through the summer the President insisted again and again that the time had come when America must assume its share of responsibility for a better organization of mankind. In the early autumn very startling news came from Germany. It was most confusing because it promised peace maneuvers, hinted at a separate arrangement with the Russian court party, and at the resumption of unlimited submarine warfare. The months from November to February were to tell the story. Never was the situation more perplexing. The prestige of the Allies was at low ebb, there was treachery in Russia, and, as Mr. Lansing said, America was on the verge of war. We were not only on the verge of war, but on the verge of a bewildering war which would not command the whole-hearted support of the American people. With the election past, and a continuity of administration assured, it became President Wilson's task to make some bold move which would clarify the muddle. While he was preparing this move, the German chancellor made his high-handed proposal for a blind conference. That it would be rejected was obvious. That the rejection would be followed by the submarine war was certain. The danger was that America would be drawn into the war at the moment when Germany appeared to be offering the peace for which the bulk of American people hoped. We know now that the peace Germany was prepared to make last December was the peace of a conqueror. But at the time Germany could pose as a nation which had been denied a chance to end the war. It was necessary, therefore, to test the sincerity of Germany by asking publicly for a statement of terms. The President's circular note to the powers was issued. This note stated more precisely than ever before that America was ready to help guarantee the peace, and at the same time it gave all the belligerents a chance to show that they were fighting for terms which could be justified to American opinion. The note was very much misunderstood at first because the President had said that, since both sides claimed to be fighting for the same things, neither could well refuse to define the terms. The misunderstanding soon passed away when the replies came. Germany brushed the President aside, and showed that she wanted a peace by intrigue. The Allies produced a document which contained a number of formulae so cleverly worded that they might be stretched to cover the wildest demands of the extremists or contracted to a moderate and just settlement. Above all the Allies assented to the League of Peace which Germany had dismissed as irrelevant. The war was certain to go on with America drawn in. On January 22, after submarine warfare had been decided upon but before it had been proclaimed, the President made his address to the Senate. It was an international program for democracy. It was also a last appeal to German liberals to avert a catastrophe. They did not avert it, and on February 1 Germany attacked the whole neutral world. That America would not submit was assured. The question that remained to be decided was the extent of our participation in the war. Should it be merely defensive on the high seas, or should it be a separate war? The real source of confusion was the treacherous and despotic Russian government. By no twist of |