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6. The influence of credit on the level of prices. 7. The cattle industry in its relation to the ranchman, feeder, packer, railway, and consumer.

8. Should the government seek to control or regulate the use of mines of coal, iron, or other raw materials, whose supply may become the subject of monopoly?

9. What provision can be made for workingmen to avoid the economic insecurity said to accompany the modern wage-system?

A First Prize of One Thousand Dollars, and a Second Prize of Five Hundred Dollars, in cash, were offered for the best studies presented by Class A, composed exclusively of all persons who had received the bachelor's degree from an American college in 1894 or thereafter.

The present volume was awarded the second prize.

PROFESSOR J. LAURENCE LAUGHLIN,

University of Chicago, Chairman.

PROFESSOR J. B. CLARK,

Columbia University.

PROFESSOR HENRY C. ADAMS,

University of Michigan.

HORACE WHITE, ESQ.,

New York City.

HON. CARROLL D. WRIGHT,

Clark College.

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