1 il 
Economic Advisor to the Harmon Foundation, have been most valuable 
and constructive. Acknowledgment is due to Dr. H. Parker Willis, 
Editor of the New York Journal of Commerce and Professor of Banking 
in the School of Business at Columbia University, for his advice in the 
Organization of the work and the formulation of the problem. He also 
contributed some of his time to a careful reading of the manuscript and 
making valuable suggestions. Acknowledgment is also due to Dr. Robert 
M. Haig, Professor of Business Administration at Columbia University, 
for his careful perusal of the manuscript and constructive criticism. 
Director James C. Egbert of the School of Business, Columbia Uni 
versity, made available the necessary office space for the Bureau and both he 
and Dr. R. C. McCrea, Hepburn Professor of Economics in the School 
of Business, Columbia University, have given friendly support to our 
efforts. 
It is realized that there exist many errors in the report as presented; 
in the style, the method of presentation, and the construction. These 
will have to be eliminated before the report is ready for publication if 
the association recommends such a Step. It would be well, it seems to 
me, that sufficient time be given at the convention to discuss thoroughly 
each part of the report. In this way it would be possible to benefit by 
the experience of all the members. The criticisms and suggestions made 
could be incorporated in the final publication and thus make the docu- 
ment more valuable and practical. 
My association with the members of the Committee has been very 
pleasant and fruitful. I wish to take this opportunity to express my 
appreciation to them for the amount of freedom that they have allowed 
me in developing the work. However, I am willing to assume complete 
responsibility for all the Statements made in the study.