THE JOURNAL OF POLITICAL ECONOMY

THE UNIVERSITY OF CHICAGO PRESS

CHICAGO, ILLINOIS

THE CAMBRIDGE UNIVERSITY PRESS

LONDON AND EDINBURGH

THE MARUZEN-KABUSHIKI-KAISHA
TOKYO, OSAKA, KYOTO, FUKUOKA, SENDAI

THE MISSION BOOK COMPANY
SHANGHAI

OF

POLITICAL ECONOMY

VOLUME XXVII

JANUARY-DECEMBER, 1919

THE UNIVERSITY OF CHICAGO PRESS
CHICAGO, ILLINOIS