Michiganensian. [1900]

ing these years many articles to magazines and reviews. Finally in 1887,
appeared Ilublic Debts: An Essay in the Science of Finan, ce, the first comprehensive work on the subject to appear in the United States. One of the
imlortant lessons of the civil war was that the finances of a government
in such crises cannot be administered in an empirical way without sore
disaster. This work was one of the scientific treatises brought forth by
this lesson, and is considered an authority on the administration of public
debts. The chapter on the management of finances in time of war was
translated for the use of the Japanese Government at the outbreak of the
late war with China, and during the past year tlle entire work has been
translated.
The,Scie-nc of FinancAce, An Investigation oJ Pbllic Expenditures and
IPbli-c levnlaes appeared in the fall of 1898. This is Professor Adams'
greatest contribution to scholarship. It is a work of such magnitude and
of such aspirations that it would be impossible to attempt an analysis of
it here. It was awaited by scholars with great expectations, and these
expectations were not disappointed. At once recognized as "a lasting
contribution," an(l as marking "a turning point in the history of American political literature" and "an epoch in the discussions of fiscal problems."' The chief merit of the work has been declared to be the masterly
power of analysis in the representation of the newer and saner views.
Professor Selio-man, of Columbia, than whom no one is more competent
to speak, said: "It is perhaps no exaggeration to say that Professor
Adams is at the head of those American scholars who have grasped the
essential spirit of modern industrial life; and it is likewise no exaggeration to claim for this volume the distinction of being one of the most
origoinal, tle most suggestive and the most brilliant productions that
have made their appearance in recent decades."
We have found the exposition of Professor Adams literary work so
interesting that our space is nearly exhausted and half has not been
told. tis life has been devoted to many other activities than writing'
and teaching. He is one of the editorial committee of the International
Jo,tlronl of Ethics. He was chairman of the transportation department of
the eleventh census. He has been since 1888 statistician of the InterState Commerce Commission, and for the past year or more has been
conducting a statistical investigation, for the use of a committee of Congress, of the decrease in the cost to the railroads of carrying United
States mail. During the past summer he had at work under him in this
investigation some twelve or fifteen students and four college professors.