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10 doctrine as by showing how in a strenuous way to deal with political problems. If it gave examples of really hard thinking, it must lead persons to some conclusions which might or might not be right, but which would impress those who read their contribution with the conviction that there was a right and a wrong way of working at political problems. He believed that by the careful analysis of such problems a synthesis might be found, though it might not be susceptible of expression in a complete formula. He looked to this Association and the journal which they hoped to found as calculated to lead to a right method of study and to discourage by its example the slipshod treatment of these questions which was found too often both in the orthodox and unorthodox political economist.

Professor would only add a few words. He entirely agreed with what Mr. Courtney had said, and he hoped that the Association would be as unexclusive as it could be consistently with its scientific aims. But he thought it was quite desirable that a reserve power should be placed in the hands of the council to reject any obviously objectionable applicant. With regard to the second part of the resolution, he might say that he considered the guinea subscription an essential part of the scheme. If the association was sufficiently comprehensive the guinea subscription would offer the financial basis which they needed. At the outset some time would necessarily elapse before they could carry on the journal remuneratively. He said at the outset, because they all hoped it would ultimately be self-supporting.

Professor defended the almost indiscriminate admission of members which was proposed, on the ground that it was impossible to find any satisfactory test of orthodoxy in economic doctrine. If it were attempted to apply any such test, if some were to be excluded because they appeared unsound to others, he feared that the list of members would be very small—not much larger than the number of the elect according to David Deans.

Professor then moved the following resolution, 'That those present constitute themselves members of the Association, and that a Committee be now appointed to draft rules and to submit them to a meeting of the members to be called as soon as may be practicble, members of this Committee to be members of the first Council of the Association, ad to have power to add to their number, future appointments to the Council to be made by the Association in General Meeting.' He took this opportunity of mentioning that they had a great number of letters of