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No. 47 in the series of Monographs by writers connected with the London School of Economics and Political Science


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P. 143, footnote (1). For "c. 13" read "c. 34, s. 13."

P. 177, 1. 7.

P. 191, 1. 29.

P. 264, 1. 24,

P. 264, 1. 25.

P. 406, 1. 4.

"For "1902" read "1903."

For "expressly excluded from" read "not included in." 25 and 27. Delete "not."

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THE greater part of this work was completed before the war began. In so far as it is a contribution to economic history, it might well have awaited a more auspicious time for publication; but there is sufficient justification for its appearance now in the fact that the war itself is raising, and will continue to raise, questions relating to national income, property, and wealth, as well as to the distribution of incomes, in which the official statistics play a more or less important part. Any assistance which this book may afford to those who wish to use and interpret these statistics in economic, statistical, or political investigations is accordingly offered without further delay, although leisure has been wanting for elaboration of some of the applications in Part II. on the lines originally planned. The war marks, as definitely as the close of the Napoleonic era, the completion of one economic epoch and the beginning of another, so that a summary of the official record of the past century can hardly be regarded as inopportune at this turning point in our national history.

I should not like to miss the opportunity of expressing to Dr. Bowley my appreciation of his kindly interest in this study. My obligations are due to

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