EDITORIAL PREFACE. 



SOME years ago I made a contract with Messrs. 

 T. Y. Crowell & Co. for the editorship of certain 

 volumes in their Library of Economics and Poli- 

 tics, and among them the present work by Dr. 

 Fernow was included. Although I have resigned 

 my position as general editor of this Library, I 

 am glad to accede to the request of the publish- 

 ers to continue the original arrangement for this 

 volume. 



RICHARD T. ELY. 



