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them theories of moral rational development up to which it became, in a sense, necessary for them to live. The ideals which he placed before the nations of the world, high though they were, might possibly have been higher. Vattel was a practical man, and he brought his doctrines into the domain of practical life. To have done this is in itself an achievement that will immortalize his name. But Vattel was far more than a practical man. He was a thinker of great distinction and of great honesty, and he possessed what few thinkers of that age possessed—a profound religious faith. If he has no other lesson for our age he has this: that the limits of human speculation are narrow, while the range of faith is infinite, and that man may choose the range of faith with perfect reasonableness for the purpose of determining his conduct.

BOOK REVIEWS. THE MONROE DOCTRINE: AN INTERPRETATION. By ALBERT BUSHNELL HART,

Ph. D., Litt. D., LL. D. Boston: Little, Brown & Co. 1916.

This timely treatise from the prolific pen of the Professor of the Science of Government in Harvard University will doubtless long remain the most authoritative and comprehensive discussion of the Monroe Doctrine. The field covered is indeed broader than the title; the entire area of the diplomatic and international relations of the United States in so far as they have to do with Latin-America is brought under review. Excursions are even made into the regions of the Pacific and the far east. It is, likewise, something more than a mere "interpretation” for it contains a mass of facts not easily found elsewhere. Coming as it does at a time when our foreign relations are commanding universal attention, this volume ought to have a very wide reading.

The work is divided into seven parts. The first deals with "The Original Monroe Doctrine," and portrays very fully the underlying conditions both in Europe and America which led to the conception and enunciation of the Monroe Doctrine in 1823. The share which John Quincy Adams had in the formulation of the doctrine is emphasized. And its real meaning and interpretation at the time it was promulgated are elucidated. In Part II, the period from 1827 to 1869, is covered under the general caption, “Variations of the Monroe Doctrine.” The earlier years of this epoch, down to 1844, was a time when foreign affairs were quiescent and the Monroe Doctrine slumbered, but with the accession of President Polk there begins a very active era of international relations. The Monroe Doctrine was revived in a new and expanded form to serve as the warrant for the imperalistic designs of the American government in Oregon, in Mexico, in Cuba, and on the isthmus. Succeeding Polk, each administration down until the civil war revamped the Monroe Doctrine to its own purposes. During the secretaryship of state of Seward, 1861-69, all reference to the doctrine is carefully excluded from dispatches and official utterances; and, yet, curiously enough, it was just at this time, when France was endeavoring to set up an empire in Mexico under the Archduke Maximilian, that the single important case in our whole subsequent history occurred when the original Monroe Doctrine was thoroughly apropos. Part III is entitled “The American Doctrine,” and is a historical survey of the period from 1869 to 1915. Under the secre. taries of state in Grant's, Hayes', and Garfield's administrations there was an assertion of a new doctrine of “paramount interest,” of American hegemony, in South America. This culminated under Cleveland in Olney's extravagant statement that “Today the United States is practically sovereign on this continent, and its fiat is law upon the subjects to which it confines its interposition.” Intervention in Cuba, and the SpanishAmerican war; the supercession of the Clayton-Bulwar treaty by the Hay-Pauncefote treaty, whereby we secured a free hand to build the Panama canal, are likewise expressions of this new doctrine of paramount interest. The development of the American doctrine under Roosevelt was most important. Delinquent Latin-American republics were warned that they must not expect protection for misdeeds against the wrath of European powers, so long as their punishment should not take the form of seizure of territory. But since pacific blockades and similar forms of pressure are always liable to result in territorial conquest, the United States must assume a certain responsibility for bankrupt and delinquent states in this hemisphere. Pursuant to this principle, what amounts practically to a protectorate was established over San Domingo, and more recently, over Nicaragua and Haiti. Part IV discusses “Present Day Doctrines,"—the Latin-American doctrine, the Drago and Calvo doctrine, the German doctrine, and Pacific and Asiatic doctrines, as they are more or less directly related to the expanded Monroe Doctrine. "Present World Conditions” is the subject of Part V. The territorial changes, the growth of population, the development of commerce, as influencing factors in the general problem of American foreign policy, are outlined and the doctrine of American protectorates is somewhat fully examined. Part VI contains the author's proposal of a doctrine for the future, a "doctrine of permanent interest,” which shall constitute the basis of our policy with regard to Latin-America. A strong plea is made for military preparedness against eventualities which threaten this policy based on fundamental and permanent interest. The last section of the book is devoted to "Materials on the Monroe Doctrine,” in which a good work. ing bibliography is supplied of all the most important books dealing with the subject or in which it is in any way treated.

The value of the work is much enhanced by the introduction of numerous excerpts from the official sources. One has the feeling that the author is at all times thorough master of his material. It is written in a most interesting style and scintillates with pungent phrase and epigram. Thus it is declared that “The Monroe Doctrine is not an utterance, nor a series of utterances, but a frame of mind.” Of the different variations of the Monroe Doctrine, the author says that "Almost all of them [later presidents and secretaries of state] appealed back to Monroe, just as people who know everything turn to the encyclopedia to confirm their infallibility.” And specifically of Polk's doctrine, he says: “If Polk sinned, he sinned without the angel-guardianship of James Monroe.” Of the doctrine of the two spheres, which was an integral part of the original Monroe Doctrine, it is said that “The attempts to look upon the round world through a pair of spectacles in which the two glasses have different focuses was never successful and is now entirely out of date." Again the statement is made that “The eventual participation of America in the world's affairs was as inevitable as the flow of lava down the slope of a volcano." The author's views on preparedness are revealed by the assertion that “Without a different kind and degree of military preparation on our part, the time may come when Brazil will pronounce a new doctrine forbidding European nations to meddle with the feeble United States."

LAW OF WILLS AND ADMINISTRATION. By JAMES SCHOULER, LL. D. 5th edi

tion, 2 vols. 1. Wills. 2. Executors and Administrators. Matthew Bender & Co. Albany, N. Y. 1915.

The previous editions of the well known work have been at the time of their publication reviewed in these columns. The present work is a combination of the author's treatises on Wills and on Executors and Administrators which have received the approbation of the legal profession and which are well known to every book-buying lawyer in the country. It is enough to say that here the two previous books have been entirely rewritten and the cases brought down to date in Mr. Schouler's most careful and accurate manner. VOTING TRUSTS. A chapter in Recent Corporate History. By Harry A.

CUSHING, of the New York Bar. The Macmillan Co., New York. 1915.

The author points out in his first sentences that the history of American Corporations may be divided into the early period when corporate organization appeared chiefly in the development of banks and insurance companies and the later period of railroads and mercantile enterprises carried out by great corporations. In the first period when a bank became insolvent all you had to do was to wind it up, sell its assets and distribute the proceeds among its creditors, and go out of business. But when a railroad became embarrassed this could not be done; there was still the road itself which could not be abandoned, and the saving of which required the concerted action of either the former owners, new investors or both. So in the case of large mercantile corporations financial embarrassment could not properly be met merely by writing off an investment, for as in the case of the railroad there existed a property or business of value which ought not to be sacrificed and which might under proper conditions be managed with a good chance of ultimate success.

This condition in our time has been marked by the introduction and refinement of the reorganization agreement or readjustment agreement. And as an incident of these and after the pooling agreement had been found insufficient there gradually came into being the Voting Trust agreement by the stockholders' transfer of their certificates absolutely to trustees on their undertaking to deliver back stock certificates on the expiration of the trust and in the meantime to distribute to the holders of trust certificates the amount of any dividends paid upon the stock. The development of this simple arrangement has been marked, however, by a great variety of detailed provisions and by the application of such trusts to many concerns of substantial importance. Mr. Cushing discusses these questions under the heads of (1) The Significance of Voting Trusts; (2) The Contents of Voting Trusts; (3) The Law of Voting Trusts, and in the 4th part gives the exact words of the Voting Trust agreements and certificates made use of by some of the great railroads and industrial corporations which have met financial or other troubles during late years, for example the Chicago Great Western Railroad; the Equitable Life Assurance Co., the General Motors Co., the Baltimore & Ohio Railroad, the Standard Oil Co., the International Harvester Co., the Erie Railroad, the St. Louis & Iron Mountain Railroad. The author has chosen a subject new to most people and writes as one who understood it in all its details. PRIMITIVE AND ANCIENT LEGAL INSTITUTIONS. Compiled by ALBERT KOCOU

REK and JOHN H. WIGMORE. Boston: Little, Brown & Co. 1915.

In a recent number of this review, the first book of the series, Sources of Ancient and Primitive Law, was discussed. The preface of the volume before us assures us that "the first two volumes should be used together. The selection of materials is such that they are intended to complement each other.” Then we are urged to read first the Sources "in analogy to the case-method." Thus the two volumes demand discussion together.

In one important respect, the two are identical in plan. Each is a compilation of more or less unrelated extracts. In a source book, this is a virtue, but it is a serious question whether the same can be said of a book professing to give a picture of current opinions on early law. At the first glance, we note that a good portion is not up to date. Several of the articles were written before the discovery of the Code of Hammurapi and the publication of the enormous number of Babylonian business documents, and therefore the proportion suffers. A large part of the book is made up of selections from Maine and Fustel de Coulanges. Now the “Ancient Law" and "Ancient City" are most important works and deserve our greatest reverence as marking a stage in the development of our study. But we have already advanced much beyond their point of view and much of what they present is inevitably out of date.

A serious point of difference between the two books is the fact that in the source book the arrangement is by geography while in the other it is by subject. Exceptions are found in the sections dealing with Roman Law, whose author, Sohm, is a sufficient guarantee of their value, in an excellent study of the Greek ordeal by Glotz, and in the decidedly inadequate study of Semitic Procedure extracted from Cook's comparison of the Mosaic Laws and the Hammurapi Code. While the first volume simply lists the Mosaic Laws in the orthodox order, the second, it is a pleasure to note, regularly assumes the modern division into codes of varying dates. The reading of these articles would have been made much easier had the modern arrangement been given in the source book.

Undoubtedly the best feature of the book is the long series of translations from foreign authorities, French and German, with one lone Italian. Whatever one may think of his "Necessity knows no law" in international relations, there is no doubt that Kohler of Berlin University stands at the very head of German investigators in legal history. It is therefore deserving only of commendation that his sketch on the Evolution of Law opens the volume and that extracts from his “Philosophy of Law" form a sort of skeleton for the book, though it is to be feared that many will find them somewhat uninteresting. The tone of the book is rather set by the article on Ethnological Jurisprudence by Post, who, though but this single article is found under his name, frequently appears in the footnotes. Ethnological Jurisprudence, to be sure, is only Comparative Law with greater stress on the non-historical peoples. Indeed, a distinct defect of many of the articles is a failure to distinguish sharply enough between the customs of primitive peoples and the formal law of the culture nations of antiquity.

This tendency is shown in the large number of articles, notably by

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