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The fact that a member of '86 has prepared a paper on the doctrine of laisser faire, at the request of the Honorable James Bryce, M. P. to be read before the English House of Lords, is a gratifying compliment to our department of Political Economy. It marks a recognition of Harvard's position in this new science. It also points out emphatically the new field which Harvard and other colleges are making attractive to young men. Many political questions must arise for decision in the next few decades. The journalists and the politicians who have had the advantages of a careful, economic training, provided they still retain their common sense, will hold peculiar power over the future of great national interests. This outlook should encourage both professor and student to make the courses in Political Economy forward and vital.

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