DEPARTMENT OF ECONOMICS AND SOCIOLOGY * 



Henry W. Farnam, Chairman. 



No changes have been made during the past year in the staff of collabora- 

 tors, and all are aiming to complete the work of their respective divisions at 

 the earliest possible moment. Two have been especially handicapped by 

 other demands upon them : Dr. Clark, who is still working for the Census 

 Bureau in the Sandwich Islands, and Mr. Stone, who is managing his plan- 

 tation in Dunleith, Mississippi; but both have given as much time as they 

 could command to the work of the Carnegie Institution of Washington. 

 Professor Gardner has obtained a leave of absence from academic duties for 

 the year 1911-12, and Professor Willcox expects to obtain one for the year 

 1912-13, in order to secure time for the work of the Institution; Professor 

 Willcox, Dr. Clark, Professor Meyer, Professor Johnson, Professor Com- 

 mons, Mr. Stone, and the writer have begun the preparation of their final 

 reports. 



As explained in previous reports, the present organization of this Depart- 

 ment is peculiar in that the work is conducted, not by scholars who receive 

 a regular living salary to devote themselves to its interests, but by those who 

 are already otherwise occupied, and can as a rule give but a part of their 

 energies to the Department, in many cases taking no compensation for time 

 spent, in others receiving but a small amount. This method has the advan- 

 tage of economy, but the disadvantage that it is not easy to push the work, 

 especially when the collaborators are in frequent demand for public and 

 semi-public service. Thus, in the course of the past year, Dr. Clark has 

 been engaged in census work, Professor Meyer has been appointed to the 

 Interstate Commerce Commission, Professor Dewey has undertaken the 

 editorship of the American Economic Review, and Professor Commons has 

 accepted a position on the recently formed Wisconsin Industrial Commission. 



Upon the death of Colonel Wright, in the spring of 1909, we were given 

 clearly to understand that the current income of the Institution was already 

 fully appropriated, and that we could not expect additional grants. We have 

 therefore been using our best endeavors to bring the work to a conclusion 

 under the appropriation originally made in December 1903. 



We had on the first of September 191 1 the following balances to our 

 credit : 



Administration Fund $4,944. 12 



Index 17,911.02 



General Research Fund 34.552 . 19 



Total 57,407.33 



♦Address, Yale University, New Haven, Connecticut. (For previous reports see Year 

 Books Nos. 3-9.) 



69 



