Professor of Political Economy at Harvard University
"True words are not pleasant.
Pleasant words are not true." Lao-Tze, Canon of Reason.
NEW YORK
CHARLES SCRIBNER'S SONS
1920
COPYRIGHT, 1920, BY
CHARLES SCRIBNER'S SONS
Published February, 1920
277734
The author wishes to express his deep appreciation to Mr. Francis H. Kinnicutt for his helpful suggestions and criticism in connection with the writing of this book.