I have sought in the following pages to deal with the subject of industrial liberty in a manner which seems to me, in some respects, different from any that I have hitherto noticed. Aiming to keep in view principles rather than statistics, I have undertaken to make an analysis of the salient political and industrial evils of our time, and to measure, by fundamental rules, the departure, in some of our governmental and industrial methods, from these principles. Where it has been necessary to employ concrete illustrations, I have endeavored, as far as possible, to make a dispassionate and an impersonal use of them. It is not assumed that the work is anything more than elementary, since it has been my purpose rather to indicate a line of inquiry than to attempt an exhaustive or even a comprehensive treatment of the subject; and I have undertaken my task with the hope that others better equipped may possibly, from some of the suggestions which I have ventured to make, be induced to engage in a more thorough discussion of those underlying principles upon which modern industry, in order to be wholesome, must rest. JOHN M. BONHAM.

NEW YORK, July 1, 1888.