D. Dawson, William Harbutt, 'The Delbrück, Prof., Regierung und Derby, William Stanley, 6th Earl of, supposed author of Shakespeare's plays, 194 et seq. Dodwell, H., 'Clive in India,' 38. Drunkenness, total convictions, 393. Duckham, Sir A., scheme for the administration of mines, 428, 431, 443. Dumas, Dr G., 'Les Troubles Mentaux et la Guerre,' 300 note. Dutch, the, centenary of the foundation of Batavia, 265-result of the Treaty of Vienna, 267-restoration of Malayan territory and Malacca, ib.-revival of power in the East, 270-character of their policy, 274. E. Economic Future of Women in Industry, 73. See Women. Economic Position of Great Britain, 489-influence of wars, 489-492, 517-cost of living, 492494-wages, 494-496-currency, 496-498-Public Debts, 498-decrease in production, 499-502monetary standards, 502-504-international trade, 504-506-external assets and liabilities, 506expenditure, 507-revenue, 508cost of government, 509 - the Army, ib.-the Navy, 510-Air Force, 511-war pensions, ib.economies, 512-process of demobilisation, 513-amount of the National Debt, 514-two alternatives, 515-necessity for increased production, 516-the capitalistic system, 517-constructive policy to meet the demands of labour, ib. Economics of Inland Transport, 90. See Transport. Expenditure, 507-509. F. Farquhar, Major, British Resident at Malacca, 271-on the occupation of the Karimun Islands, ib. Ferrer, Francisco, founds La Escuela Moderna, 127-arrested and shot, ib. Flaubert, Gustave, 'L'Education Sentimentale,' 329-'Madame Bovary,' ib. Fordyce, Sir William, brothers, 343 -treatises on medicine, 344friendship with Obradović, ib. Forrest, Sir George, 'Life of Clive,' 38. Fortesque, Hon. J. W., 'Lord French's "1914,"' 352. France, Anatole, 'Le Lys Rouge,' 327-strain of dilettantism, 331. France, Queen Victoria and, 1. See Victoria. France, railway nationalisation, 154, 160, 174-restoration of AlsaceLorraine, 246-249-Saar coal-field, 247-devastation caused by the war, 259-shipping losses, 473, 476 -note circulation, 497-Public Debt, 499. French Novel, The, 318-G. Saintsbury's 'A History of the French Novel,' 318-320'La Nouvelle Héloïse,' 321-'Gil Blas,' ib. Marivaux's 'Marianne,' 322-characteristics of the novel, ib.-capacity for doing great things with little, 323-Balzac's 'Comédie Humaine,' 324-G. Sand, Flaubert and Zola, ib.-Hugo's 'Notre-Dame de Paris,' and 'Les Misérables,' 325allurement of the triangle,' 326— impressions of heroines, 327-habit of analysis, 328-heroes, ib.-lack of humour, 330-critical attitude, ib.-undertone of disillusion, 331. French's 1914,' Lord, 352-in command of the British Expeditionary Force, ib.-disposition of his forces, 353-blames Sir H. Smith-Dorrien, 354-orders retreat, ib. inaccuracies, 356, 363-on the battle of the Marne, 357-relief of Antwerp, 358-battle of Ypres, 360-362-criticism on his book, 363. not (as presented) as just under 73,000,000l. For a full year, so long as the number of pensioners remained at or near the maximum, the cost would be about 96,000,000Z. The number of pensions, gratuities and final allowances in actual payment on June 30, 1919, was as follows: It would not be wise to look for any substantial reduction in the cost of pensions for some years, but after 1930 they should begin to decline rapidly. Economies.-If the British public were fully informed on economic questions, it would not tolerate any policy which tended to restrict production, and it would bring the vicious system of subsidies to an end as quickly as possible. At the present time, the Railways are being subsidised at the rate of 60,000,000l. per annum, and Bread at the rate of 50,000,000l. per annum. Substantial subsidies will be required for Housing, and the Unemployment Dole is still very heavy. The bread subsidy, the unemployment dole and the housing subsidy can be partly justified upon the ground that they were rendered necessary by the conditions created by the war, but there is no justification for the railway subsidy. Uneconomic methods bring their own nemesis; and we have a striking example of this in the case of the railways, on which goods have been carried at uneconomic rates during the war. The results of the railways carrying under cost price are (1) the congestion of railway termini, docks, quays, warehouses, etc.; (2) loss of facilities to the public; (3) delays in transit; (4) increase in economic cost by handling; (5) lack of regular employment; (6) extra burden on taxpayer. According to official figures, there has been a falling off in coastwise traffic from 71,381,720 tons in 1914 to 35,470,377 tons in 1918. Among reasons assigned for this decline are dearth of railway trucks, unnecessary delay in ships, congestion of ports, and loss of shipping tonnage. Moreover, merchants are sending large quantities of goods by rail in preference to sea, as they find it cheaper to do so on account of pre-war rates of carriage being in existence, while the cost of sea-transport has increased considerably during the past few years. The Civil Service estimates, therefore, offer a most promising field for the exercise of a policy of ruthless economy. The uneconomic subsidies must go, and the bureaucrats created during the war must go with them. An analysis of the returns prepared by the Treasury, showing the staffs employed in Government Departments at the time of the Armistice, on March 31, and July 1 of this year, shows that, eliminating the Post Office and allowing for the inclusion in the earlier figures of certain new Revenue staff, omitted from the first white paper, the comparative strengths of the staffs in Government Departments were as follows: August 1914 . 79,522 299,186 203,329 196,899 The process of demobilisation is, therefore, painfully slow. The nation has not only to bear the cost of salaries and establishment charges for this vast army of new officials, but it has to suffer a much greater loss on account of the obstruction which these people have created to the resumption of the normal trading conditions of the country. I would suggest that we should aim at a policy which would enable us to fix the cost of Government, including Imperial Defence, on a basis which should not exceed 20 per cent. of the National Maupassant, Guy, character of his heroines, 328-sense of humour, 330. Maura, Señor, appointed President of the Council of Ministers, 130charges against, 131-religious views, 132-policy, 133. MacDowall, Arthur, 'The French Novel,' 318. 'Memorandum on Forms of Government within the Empire,' 445. Men, opposition to the employment of women in their trades, 84claim of Equal pay for equal work,' 87-case of piece-work, 88. Mental Disorders and War, 284. See War. 'Mental Invalids, A War Hospital for,' 297 note. Mercantile Marine, one of the main fighting forces, 471-share in effecting the change from war to peace, 472-losses, 473, 476, 477. Mesopotamia, Turkish Rule and British Administration in, 401. I. Irak under Turkey, 401-411land tenure, 402-system of administration, 403-education, 404 -the Municipality, ib.-Courts of Justice, 405-Revenue Department, ib.-land revenue, 406-Sanniyah estates, ib.-Amiriyah estates, 407 --imposition of temettu, ib.sources of income, 408-tobacco and salt, ib.-liquor trade, 409the Public Debt, ib.-Hillah Canal, 410. II. Irak during the War, 411-423-under British administration, 411-Revenue Board, 412 -condition of Baghdad, 413, 417agricultural situation, 413-feeling of insecurity, 414-influence of the Chief Political Officer, ib. III. Agricultural Development Scheme, 416-Education Committee pointed, 418-primary schools opened, ib.-relations between the British and the Arab, 419-Bani Hassan Canal, ib.-Georgeiyah Canal, 420-supply of seed, ib.money, 421-success of the scheme, ib.-creation of a Board of Agriculture, 422-total area under cultivation, ib.-economic future, 423. Mexico system of railway policy, 174. ap Mijatović, C., 'Serbia of the Serbians,' 340. Milićević, V., essay on Obradović, 340. Miners' Federation, demand nationalisation of mines, 436. Mines, The Battle of the, 424settlement by united counsel, 425 -the state of men's minds the obstacle, ib.-use of the word 'principle,' 426-inevitable changes, ib. -results of an extreme form of change, 427-decision by popular vote, ib.-outlines of five schemes, 428-acquisition by the State, 429 -method of assessing the purchase value, ib.-position of the State as owner, 430-reference of Mr Smillie to nationalisation, 431— establishment of a State Department, ib.-provision of duly certificated managers, 432-attitude of the public to nationalisation, 432-435-advantages and disadvantages, 435-demand of the Miners' Federation, 436-report of Mr Justice Sankey's Commission, 437-440 -loss of incentive, 440-diminution of industrial strife, 441-decreasing output, 443-Sir A. Duckham's scheme, ib. Monetary standards, tables, 502. Moore, Sir Norman, 'The History of St Bartholomew's Hospital, 110— visit to Beaumais, 111-record of the hospital in the Middle Ages, 114-survey of the deeds, 116-118origin of street names, ib.-wordsketches, 117-119-on the use of antique gems as seals, 119—the writers of documents, 120-criticism on his style, 121. Morality, State, 57. See State. Morgenstierne, Dr Bredo von, 'State Morality,' 57. Mott, Dr F. W., 'The Effects of High Explosives upon the Central Nervous System,' 288 note-War Psycho-Neuroses,' 291 note. N. Napoleon III, Emperor, relations with Queen Victoria, 5-7. Navy, cost of the, 560. safely computed at 24,000,000,000l., and the national income at 3,600,000,000l. I wish to make it perfectly clear that I do not maintain that in terms of commodities and services we are 50 per cent. better off than we were in 1912, but I do contend that, if the United Kingdom was then worth 16,400,000,000. with the menace of German militarism confronting it, and the average price of commodities standing at 85, our national wealth to-day, with German militarism overcome, with our increased power of production, and with the average price of commodities in the neighbourhood of 200, may be fairly estimated at the figure I have stated, namely, 24,000,000,000l., and the national income at 3,600,000,000l. In other words, if we accept and stabilise the new valuation of money, our post-war National Debt will be only equivalent to a sum representing 23 or 24 per cent. of the national wealth, and our post-war Budget will not amount to much more than 20 per cent. of income. The economic problems which confront the peoples of this country and of the world may be solved by adopting one of two alternatives. We may (1) attempt to reduce drastically the amount of paper money in circulation, repudiate a part of the National Debt by means of levies on capital or otherwise, attempt to force commodity prices down to the pre-war level, and, with infinite suffering and strife, endeavour to get back to the pre-war economic standard of wages, prices, production and consumption. Or (2) we may recognise and stabilise the new valuation of money in relation to commodities and services, maintain wages and commodity prices at a high level, and increase the national production up to a point which will justify the raising of the standard of living to a much higher level. A large number of people are naturally anxious to see commodity prices at a considerably lower level as soon as possible; and during the next decade a substantial fall appears to be inevitable. But I doubt if, in seeking to overcome their present troubles, the public have taken into account the full consequences of the great economic disturbance which would result if all commodity prices fell too rapidly and too heavily. The first effect would be to reduce materially the national |