The Federal Reserve System. Its Origin and Growth. Reflections and Recollections . By Warburg Paul M.. (New York: The Macmillan Company. 1930. Two volumes. Pp. xix, 853; viii, 899.)

procedure, however necessary to the sum total, constitute, after all, only a skirmish in the whole campaign. The author's strongest conviction appears to be the need for independent judges who will take from prosecutors some of their broad discretionary powers. Beyond reliance on an awakened civic conscience, he offers no proposal affecting the political milieu. But the purpose of the book is not so much to advance reform programs as to present varied experiences and proposals; and this it does with thoroughness within its allotted field.