Whilst the greatest effort has been made to ensure the quality of this text, due to the historical nature of this content, in some rare cases there may be minor issues with legibility. These lectures were delivered in October December, 1917, to the Political and Economic Circle of the National Liberal Club. They are printed mainly as given, but with some com pressions, a few improvements of statement, some little annotation, some postscripts, and the inclusion of some passages omitted in delivery. Their usefulness, I conceive, might have been increased by more systematic annotation from economic literature; but other pressing occupa tions make that impossible. Since, further, they make no pretension to constitute a systematic economic treatise, but aim only at a partial practical application, of economic ideas to the great problem of reconstruction, a larger array of authorities might suggest a much higher estimate of their lasting utility than I put upon them.
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