BOOKS AND BOOKMEN

Evening Star, Issue 16090, 15 April 1916, Page 2

BOOKS AND BOOKMEN

'A Study of Industrial Fluctuation.' By Dennis H. Robertson. London: P. S. King and Sou, Ltd.

This is one of the most useful books that have been published of recent yeVs in connection with matters of commerce. It is especially serviceable at this time, when the war is throwing into prominence questions of trade and industrial fluctuation. Air Robertson traces with the masterly skill which comes from full knowledge the various causes of inflation and depression in trade. He finds that a rising price in any industry induces an overinvestment of capital in that industry, attracted by the prospect of exceptional profit. This gives a stimulus to the constructional industries, which provide machinery and other forms of capital. But when over-capitalisation has taken place, then the volume of production exceeds the demand, and the price of the product falls. But capital fixed in any,; industry cannot be readily withdrawn, and i so the over-capitalised industry enters upon a period of depression, which tends to communicate itself to dependent industries. There are many illuminating passages, showing an unsuspected relation between widely-separated industries. For instance, tables are supplied indicating that depression conies upon the woollen industry with a rise in the price of wheat, and prosperity with a fall. This is explained hy the fact that in time of peace the 'working class are the largest purchasers of woollen goods. When the price of bread increases, they have less purchasing power available for woollens, and the demand for them falls off. The reverse is the case when the price of bread is low. Clearly hero is a point of importance for consideration by the tariff reformers. If their duties increase the price of bread, it appears that they will at the same time involve the woollen industry in depression. Mr Robertson's book abounds in enlightening information of this kind for the euidanoe of politicians. The book concludes with suggested remedies for mitigating .the extremes of inflation and depression—remedies that should be carefully considered by those who will have to grapple with tho grave economic problems which will emerge at the conclusion of the war.

' The World in Conflict.' By Professor L. T. Hobhouse. London : T. Fisher Unwin.

This is a. wonderhu little book, and ought to bo read by everybody wlio would understand the less obvious causes of the great war. Dr Hobhouse is Professor of Sociology in the University of London, and lias succeeded in conveying in concise and popular form the result of his deep investigations into the growth of tho spirit of militarism. Let any reader peruse the first chapter, and he Mill bo loath to lay the book down until he lias turned the last of its hundred pages. Tho greatruss of the book consists in its analysis of the ideas which have slowly but surely driven upon the world the present conflagration. The book furnishes powerful testimony of the danger of allowing explosive ideas to develop unheeded. One of the most arresting passages is that in which the author explains how the theory of Evolution impregnated the. world with the idea that self-assertion was the condition of progress. For more and more as the formulae of Evolution became popular and gathered about them all the looso and unscientific accretions that belong to tho language of a half-educated society, they spread the belief that for " science " progress was the child of strife and therefore of self-asser-tion, hardness, and moral anarchy. . . . The modern found love, except as a. reproductive instinct, a more encumbrance. It was by fighting for its own hand that the living being at every stage maintained itsell', and moved on to higher types. TJv Hobhouse finds Germany the chief exponent of this doctrine of progress by strife, but he has discovered its corrupting influence on oEher nations as well. Apparently the world is suffering from a decay of Christianity.

'The Socialist Party in the Reichstapc and the Declaration of War.' By P. Q, La Chesnais. London : T. Fisher Unwin.

This book is a compndirfus collection of evidence concerning the attitude of the German Social Democratic party in Germany to the war. It is written by an.eminent Socialist, and, we opine,_ Willi be of interest !*• more than Socialist readers. It is a tuning impeaoWnent of the German : Tists for betraying the eaus« of international brotherhood when the most signal opportunity was presented of asserting it to the honor of Socialism and the salvation of the world from unprecedented bloodshed. As many people now know, an international gathering of Socialists was held on the 29th July, a few days prior to the outbreak of war. Bepresentatives of all the countries of Europe were present, and at that gathering Haase, a German Socialist, .iedared that his party would never vote the- war supplies. The gathering asserted the international soli-da-ritv ol the proletariat. But when the Pveictvstag went on 4th August the' German

Socialist party unanimously voted for the war nedit. Mr Chesnais has rendered great service in tabulating all the evidence on "this matter, md his book will bo an everlasting monument erected by a- Socialist to the shamo of the strongest Socialist party in the world—the Social Democrats of Germany.

Commercial Theory and Practice.' By W. Abbot. London: John Murray.

We heartily recommend this book to those who wish to get a clear grasp of the principles underlying commerce. It will be specially useful as a guide in studying the problems of tariff and foreign ■ trade to which the war is giving rise.

POET AND TRANSLATOR OF THE

•ARABIAN NIGHTS.'

Tho death of Mr John Payne, in his 74th year, removes a notable literary figure of the Victorian period. Though descended, in the fomale line, from Admiral Sir John Hawkins, his tastes were entirely literary and linguistic. While still almost a boy he had translated into English verse the whole of Dante's poetical works, the second part of 'Faust,' Calderon's 'EI Magico Prodigioso,' and numerous German, Spanish, Portuguese, French, and Italian lyrics. His original poetry in ' Intaglios : Sonnets' was held by an American critic to be modelled on Rossetti; but as a matter of fact his manuscript was placed in the publisher's hands a year before the issue of Rossetti's first book. His best-known original work is ' Tho Masque of Shadows and other Poems,' but mention should be made of his ' Songs of L-ife and Death' and 'Lautric.' In 1904 he published ' Songs of Consolation,' and three years laterlie contributed verses to the NewtonCowper Centenary. Payne's numerous translations were prepared under the auspices of the Villon i Society for private subscription and circulation. They include Villon's poems, Boccaccio's ' Decameron ' in three volumes, and the novels of Matteo Bandallo, Bishop of A:gen, in six volumes. But the outstanding feature of his labors in this field waa his'rendering of the ' Arabian Nights' in nine volumes. He was remarkably proficient in literary Arabic and Persian, though he never travelled in the East. He condemned Lane's translation as based upon a mainly colloquial knowledge of Arabic, and maintained that Burton closely followed his translations in so far as they were available at tho timo, and committed many blunders when obliged to rely upon his own reading of the Arabic text.

He subsequently published in a separate volume the stories of ' Alaed-din' and ' Zein ul Asna'm' from the then newlydiscovered Arabic text, and also three volumes of Arabic tales. His translation of Omar Khayyam's 'Rubaiyat,' brought out in 1898, was based on the Lucknow lithograph text, and a later work was a full translation of Hafiz, the Persian poet.

MEREDITH'S LAST LETTER.

George Meredith's friends and correspondents included all sorts and conditions of people, as appears from his son's collection of 'Letters' published by Messrs Constable four yoars- ago. One of his early and stanch admirers was G. W. Foote, the secularist and associate of Charles Bradlaugh and Jpmes Thomson ("8.V."), the author of 'The City of Dreadful Night.' Mr Foote died last year, and his library has been bought by 'iMessrs Dobell, of * Charing Cross" road. The lato Mr Bertram Dobell and Foote were friends for over 30 years. The most interesting feature of the library consists of eicht autograph letters from 'Meredith to Foots. In _the earliest, which is dated August 19, 18/8, and consists of four full pages, Meredith writes : To feel that men like you and " 8.V."

road and have a taste for, what I produce if full of encouragement to me to write on with good heart. ... As to my poems, I have lost the ardor for publishing them ; perhaps in a year or two they may appear; I am well content to Remain unpublished while the poems, of " 8.V." are- withheld. In an unpublished letter of 3A pages, dated February 24, 1908, Meredith enclosed a subscription for the funds of the Secular Education Movement, saying that it was one of the "certainties of the proximate future," and speaks of Foote's " valiant fight that is destined for victory." In another lettoT, dated April 23, 1909, ho says : "Asa question of supporting your paper my name is at your disposal," and in a postscript he refers to Swinburne's funeral—" Watts-Dunton, as I suppose, was ill and feeble at the time of the funeral." In the published volumes of 'Letters' it is stated that Meredith's bst k-t*?r was to Watts-Dunton, and is dated April 13, 1909. But this letter to

I-'oote, with the original envelope in Meredith's hand, was ivritten 10 days lateT, and only about three weeks before his death.

The library also includes a copy of Meredith's ' Poems and Lyrics of the Joy of Life.' 1883, inscribed "G. W. Foote, Esqre., with the authors compliments.— G.M." This was sent to Foote when he was in Holloway Prison for " blasphemy."