personal, to serve you An Advertisement of the American Telephone and Telegraph Company SO THAT YOU may telephone from house to house in a Southern village, from farm to farm in the Middle West, or from the Pacific to the Atlantic Coast-the Bell Telephone System must be large. Its work is to give adequate telephone service to one of the world's busiest and most widespread nations. There is 4000 million dollars' worth of telephone plant and equipment in the Bell System, any part of which is subject to your call day or night. Every resource of this system is directed to the end that you may have quick, clear and convenient telephone service. In order to meet the telephone needs of the country most effectively, the operation of the Bell System is carried on by 24 Associated Companies, each attuned to the area it serves. Working TELEPHONE AMERICAN TELL BELL SYSTEM with these companies is the staff of the American Telephone and Telegraph Company, giving them the benefit of its development of better methods. The Bell Laboratories and the Western Electric Company utilize the talents of thousands of scientists for constant research and improvement in the material means of telephony. Western Electric, with its great plants and warehouses in every part of the country, contributes its specialized ability for the precise and economical manufacture of equipment of the highest quality for the entire system. The Bell System is vigorously carrying forward its work of improving the telephone service of the country. TELEGRAPH It is building for today and tomorrow-for the benefit of every one who lives and works in America. AND ASSOCIATED COMPANIES McGraw-Hill brings to your attention ECONOMIC FOREIGN POLICY of the UNITED STATES By BENJAMIN H. WILLIAMS Associate Professor of Political Science 429 PAGES, 6×9, $4.00 Dr. Williams' book offers a thorough, scholarly, interesting body of text material for courses in political science and in the international aspects of economics. It discusses the causes and forms of the new American economic diplomacy. The book has been widely and favorably reviewed. A few brief excerpts from reviews follow. American Economic Review: "The work has been well done. The volume is generously documented and shows discriminating use of official and private publications covering a wide range. It is carefully organized and thoroughly readable. It is realistic and fairly critical, but well-poised and unsensational." Political Science Review: "It is easily the best that has yet appeared on the subject.” American Journal of International Law: .. admirable in tone, clear and readable in style, and adequately equipped with facts both historic and current.' The Economist (London): "An admirable introduction to a complex and difficult subject.” Journal of Political Economy: "A systematic and valuable text." Send for a copy on approval MCGRAW-HILL BOOK COMPANY, INC. PENN TERMINAL BUILDING 370 SEVENTH AVE. NEW YORK MOV A POLITICAL Volume XXXVIII OCTOBER 1930 Number 5 A Mathematical Theory of Price and Production Fluctuations and Economic Crises A Culture Theory of Population Trends C. F. Roos 501 E. T. Hiller 523 Economic Influences Upon the Corporation Laws of New Harold W. Stoke 551 Gold Camps and the Economic Development of Western The New Conception of the "Standard of Value" Some Aspects of Mexican Immigration Book Reviews S. J. Coon 580 W. C. Schluter 600 Paul S. 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Communications for the editors and manuscripts should be addressed to the Editors of THE JOURNAL OF POLITICAL ECONOMY, The University of Chicago, Chicago, Ill. The articles in this Journal are indexed in the Reader's Guide to Periodical Literature, New York, New York. Entered as second-class matter January 16, 1893, at the Post-office at Chicago, Illinois, under the Act of March 3, 1879. 1 METHODS IN SOCIAL SCIENCE A Case Book Edited by STUART A. RICE is now in press. The inquiry and report undertaken in June, 1927, $4.50 THE UNIVERSITY OF CHICAGO PRESS CHICAGO AN EXPERIMENT IN SOCIAL SCIENCE RESEARCH Edited by T. V. SMITH and LEONARD D. WHITE Using Chicago's multiform life as a social laboratory, the Nine of the people most intimately acquainted with the re- THE UNIVERSITY OF CHICAGO PRESS |