* * * *
The famous agreement of 1924 in respect of German repar- ations will soon be tested to the uttermost, as Germany, after four years, will have to pay £125,000,000 annually to the Allies. It is important, therefore, that the nature of the agreement and the experience gained by its working should be fully understood. Nothing would be more timely than the book which Mr. George P. Auld has written on The Dawes Plan and the New Economics (G. Allen and Unwin, 10s. 6d.). Mr. Auld is an American financial expert who served. with the Reparation Commission and then assisted Mr. Owen D. Young to inaugurate the Dawes Scheme. His account of the circumstances leading up to the agreement, and ot the scheme itself, is singularly lucid, and is enlivened by some Uncommonly drastic criticism of Professor Keynes and his school. We hope to deal at length with the book on another
occasion. * * * *
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