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Dr. Ma Yin-ch'u was born at Ch'eng Hsien, Chekiang Province, in 1884. After having studied at Peiyang University, Tientsin, he went to America with government support to pursue higher education. He was in America studying for nine years. The first school Dr. Ma attended in America was Yale University where he graduated in 1910 with the degree of B. A. Then he was admitted to the Columbia University to do research work on Political Economy and there obtained the degree of M .A., and also that of Ph. D. Following his graduation from Columbia, Dr. Ma spent two