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155 Annals Am. Acad. Pol. & Soc. Sci. i (1931)

handle is hein.cow/anamacp0155 and id is 1 raw text is: FOREWORD THIs volume on Organized Commodity Markets is a successor to the volume on American Produce Exchange Markets, published by the American Academy twenty years ago, in September, 1911. That vol- ume sought to present the economic services of grain, cotton, and coffee exchanges, essentially the only types of commodity exchanges operating in the United States at that time, and the practices connected with the conduct of their business. Since that time commodity exchanges have been organized on a comprehensive scale with respect to many more of the nation's leading commodities, such as sugar, molasses, butter, eggs, rubber, copper, tin, lead, cocoa, raw silk, hides, jute and burlap, cotton- seed and cottonseed meal, cottonseed oil, and live stock. The list is ever increasing, and almost every year some new commodity exchange is organized with reference to a basic commodity not previously dealt in on an organized futures market. The changes wrought within the field of commodity exchanges during the past twenty years have been so numerous and important as to sug- gest the desirability of a new and up-to-date volume. The material in the volume is presented under three main divisions. The first ten articles, comprising the first division, deal with the important principles, practices, and economic factors essential to all organized commodity markets. The next thirteen articles, comprising the second division, relate to special commodity markets not discussed in the previous vol- ume. The third division is devoted to articles on commodity exchanges in England, Germany, France, Japan, and Italy, whereas the previous volume was confined to American exchanges. S. S. HUEBNER

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