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 something that he wanted more than the article disposed of. When Professor Soddy lectures and writes and otherwise distributes the learning for which he is so eminent in his real field, he surely exchanges that learning for goods which he buys with the fees that he receives and so confers a double advantage by handing over knowledge to those who need it and taking goods from those who have made them and passed them on through the merchants for sale.

When we come to the narrower problem of money, the Professor is acute and illuminating. He sees that the quantity of money as compared with that of goods is the most important item in its value, "It ought to be in precisely the same relation to the revenue of wealth as a food ticket becomes to food supply, or a theatre ticket to a theatrical performance" (He surely means to the seats in the theatre). Again, the "currency must be regulated pari passu with the changing revenue, issued as the latter expands and destroyed as the latter contracts. Since it would neither be given away in the first nor taken away in the second event, but used to buy back old, or taken in exchange for new State Loans, the community as a whole would share the prosperity of good times as well as the stringency of bad ones, instead of only