Who can be happy and free in Russia? is his greatest work. It is a narrative poem of great vigour and liveliness, which tells how Seven good peasants Once met on a high road. They met and disputed Of who can in Russia Be happy and free ? The poem conveys the very soul of the Russian worker, the manner of his life, his naive simplicity, his credibility, his simple humour, and the pathos of his lot. In reading it we feel that we are in Russia, mixing with the peasants, gaining an insight into their inmost mind and thought. As to the format of the volume one need only say that it is published in The World's Classics," a series that in its thin paper form especially is certainly one of the neatest and best bound of all cheap reprints. The Future of Constantinople by Leonard S. Woolf, London, George Allen & Un- win, Ltd., Ruskin House, 40, Museum Street, W.C., I. Pp. 109. 2s.6d. nett. This little volume is a plea for the internationalization of Con- stantinople. The author bases his plea on political, economic and strategical considerations. The alternative to interna- tionalization is an imperialist settlement; and such a settlement cannot in the nature of things be satisfactory for it has failed in the past to guarantee the freedom of the straits to commerce. The importance of this question is realized at once if we remem- ber that during the last hundred years Constantinople and the narrow straits upon which it stands have been the chief European centre of international unrest. From them, and about them, have radiated continually international rivalries and hatreds and sus- picions. The author is confident that an international admini- stration for Constantinople and the straits is the right solution and his account of the great success of the Danube Commission is interesting and is for many of us a contribution to knowledge. The book is well got up and is interesting reading to all who are interested in foreign and international politics. The Progress of Capitalism in England." Cunningham. Cambridge University Press. 3s. net. Dr. Cunningham's latest book: The Progress of Capi- talism in England," embodies the substance of some lectures given at the London School of Economics. It would be of great interest were it merely a historical outline of the development of one of the great factors in modern life, but the con- clusions which are drawn from these facts make the book of particular value under present conditions. Dr. Cunningham as long ago as 1879 saw that the laissez faire system of industry was doomed to failure. It has long been proved that it is impossible for labour to be left to look to itself without the direct interference of the State. But many of us are only just beginning to see that capital also must not be left to its own blind devices, and that the business which yields the greatest money dividend may do so at the cost of the real national good. The sacred rights of property come before all others in our legal as in our social life; the woman who ill-treats a child may escape with a fine, but if she steals the veriest trifle, she must suffer imprisonment. This is characteristic of our national outlook. Now the owners of that peculiar form of property, capital, mould our whole life for us. It is they who mainly determine which industries shall flourish and which decay; upon them hangs the life of the people. And, as Dr. Cunningham points out. It can no longer be assumed that the free play of private interests gives us a result which is identical with the public interest the material prosperity of the community is a thing which must be safeguarded and fostered." What steps should be taken to ensure even this material welfare, let alone the spiri- tual development which is so largely determined by the con- ditions of physical life ? Dr. Cunningham advocates a direct State interference with capital. How possible this is has been proved by the way in which we met government needs for the War. Great businesses have been transformed and works put to quite other uses. But there are distinct disadvantages in the State as capitalist. First, as we are now proving but too well, it is highly necessary to have some third party to whom appeal can be made as between labour and capital. When a man is working directly for the State it is even harder for him to get redress for grievances than when he is privately employed. And the government is not by any means an ideal employer, even in normal times, as many a lower- grade civil servant or Post Office employee can vouch. Then Dr. Cunningham's plan involves the existence of a purely ventier class. Private hoarding and accumulation would be essential in order that the public might have money and be able to take up government loans." One may argue as to whether private ownership of capital is necessary or not, but to most of us the idea of the State as manager for the private capitalist seems rather distorted. Dr. Cunningham lays stress, and rightly, on economic co- operation between states, and the consequent interference with capital. But the influence with taxation on the distribution of capital as between individual and individual, and industry and industry, is deserving of more consideration than it gets from Dr. Cunningham. By import and export duties, by licenses and direct impositions, by State loans and bonuses, desirable industries may be fostered and those be extinguished which do not in the long run prove of genuine national advantage. Dr. Cunningham's book is one which all interested in modern economics should secure. ML. Aberayron Comity Intermediate School. APPOINTMENT OF HEAD MASTER. Applications are invited for the post of Headmaster of the Aberayron County School, Cardiganshire, to commence duties 10th September, 1917. Applications, stating age and qualifications accompanied by 15 copies of three recent testimonials, also references with names and addresses should reach the undersigned on or before 7th July, 1917. Salary £ 350 per annum. The Headmaster must be a graduate of a University in the United Kingdom, and Welsh-speaking. Canvassing the Governors, either directly or indirectly, is strictly prohibited, and will disqualify the Candidate. B. C. JONES, Clerk to the Governors. Aberayron, 1st June, 1917.