ELEMENTS OF ECONOMICS.
Elements of Economies. By Dr. Henry Reed Burch and Dr. Scott Nearing. (Macmillan and Co. 4s. Gd. net.)—The Elements of Economics, by Messrs. Burch and Nearing, is a book written for use in high schools in America with special reference to American conditions. Nevertheless, it will be found quite interesting to English readers, and would not be at all unsuitable for occasional use in English schools. The book is not only well written, but also well printed and clearly set out. From the point of view of the English economist the teaching is, on the whole, thoroughly sound. Here for example is a passage dealing with customs duties :-
" This tax, intended for the foreign manufacturer, is, of course, not really paid by him, because he shifts its payment to the importer, and the importer in turn shifts it to the consumer in the form of higher prices. Meanwhile if the consumer decides to buy the domestic article he finds, of course, that its price is corre- spondingly increased. Therefore, whether he buys the domestic or the imported article the burden of this tax falls on the consumer. If he does not pay it to the Government he pays it to the home manufacturer."
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