ROYAL ECONOMIC SOCIETY. ECONOMIC 4, PORTUGAL STREET, KINGSWAY, SOCIAL GOELDED LONDON, W.C.2. MONED 1st May, 1948. RENEWAL OF SUBSCRIPTION. SIR, The period for which your subscription has been paid expired on 1st January I shall be much obliged, therefore, if you will forward to me your subscription for the subsequent period, namely, £1 10s. Od. to 31st December 1948. A Cheques should be made payable to the Royal Economic Society. I have to inform you that the ECONOMIC JOURNAL and the Society's other publications are not sent to members who are more than three months in arrear with the payment of their subscriptions. A Banker's Order form will be sent if required. I call your attention to the fact that all future subscriptions may be commuted by a single payment of £22 10s. Od. I am, Sir, Your Obedient Servant, E. A. G. ROBINSON, Secretary. Dr. L. Mises.