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the lack of a practical and basic guidebook for teachers and students.

To further this purpose and apply underlying principles, the authors have analyzed and discussed many economic, legal and practical business problems that have a bearing on the combination movement both here and abroad.

As a proper background for a clearer understanding of this dominant element in our national trade policy, the underlying facts in the history of monopolies in the United States, of the Sherman Anti-trust Law and legislation supplementary thereto, are presented. They reflect the evolution of public opinion and of the court decisions up to date.

Discussion of the procedure and activities of the Federal Trade Commission is presented; and the methods prescribed for instituting Edge Law Banks are set forth.

Taking up the larger subject of world-trade, the modern problems surrounding private agreements and business corporations, as well as trade practices in international commerce and trade, are examined with special references to their bearing on the industry and trade of the United States. The suppression of unfair competition and unfair trade practices in international trade is being recognized more and more as one of the most important questions of our times. Constructive suggestions for the solution of this question are presented in the hope of furthering progress along these lines.

The book may be helpful to lawyers and business men planning the organization of export associations. For their use, copious examples of charters and agreements, as well as the reprints of official rules, regulations and forms issued by the Federal Government in connection with the Webb-Pomerene and the Edge Acts, have been inserted in the Appendix.

It is hoped that the student of economics will find in these pages a fund of useful and suggestive material, much of which is here published for the first time.

The authors wish to express their appreciation of the valuable assistance of Mrs. Rebecca L. Notz in the preparation of this book; and to acknowledge their indebtedness to the editors of The Journal of Political Economy and The Yale Law Journal, to the Consolidated Steel Corporation, to The Namusa Corporation and to Mr. O. K. Davis, of the National Foreign Trade Council, for kindly permitting the use of valuable material employed in this volume. Where material is reprinted original sources are indicated in footnote references.

WILLIAM F. Notz

RICHARD SELDEN HARVEY Washington, D. C. April, 1921

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