personal efficiency—an elimination of useless effort — a systematic, scientific study of how best to accomplish all important desiderata — and keeping usefully and efficiently occupied all members of society.

As almost all the material progress of mankind is either directly or indirectly due to the work of the engineer, the importance of increasing his efficiency is paramount; and, hence, the study and development of the science of engineering economics is of prime importance. Notwithstanding this incontrovertible truth, it is a fact that in times past our universities and technical schools have almost entirely ignored this fundamental and vitally-important requirement of the engineering profession. Only a few of them provided in the curriculum any instruction at all in technical economics; and even these did not attach to the course anything like the importance which is its due.

A few years ago, the Society for the Promotion of Engineering Education, awakening to a realization of its shortcoming in this vital matter, appointed a committee of four, of which the author was chairman, to investigate and report upon the subject, of "The Study of Economics in Technical Schools." After working upon the question for two years, the committee reported unanimously in favor of the subject being taught in all technical courses, and indicated the ground that ought to be covered and the minimum amount of time that should be allotted to it in the curriculum. This was as far as the other three members of the committee at that time were willing to go; but the author went farther by submitting a supplementary report advocating the preparation of an elaborate treatise on "The Economics of Engineering" by a large number of carefully-chosen specialists under the auspices of the Society. As, in the author's opinion, this suggestion of his is of national importance, he herewith reproduces verbatim the said supplementary report.

"This is by no means a minority report, for the writer thereof agrees heartily with all the conclusions of the committee, the members of which are now in entire accord on all matters considered, after having discussed at great length many mooted points; but it is a supplementary report, or something in the nature of a corollary. It is true that the fundamental suggestion it contains was made to the committee, but it was not deemed advisable to include it in the formal report; hence the writer makes it upon his own responsibility.

"Briefly stated, it is that the Society undertake the compilation into book form of a large number of monographs to be prepared by the most eminent American or Canadian specialists, one in each division or subdivision of engineering, all of the said monographs being edited and introduced by a special committee of the Society, and treating, in as complete a manner as practicable, of the economics of design and construction in the various lines. The book (which might very properly be called 'The Economics of Engineering') should begin with a full 'Introduction' explaining the raison d'être of the work, giving a history of its compilation, and offering suggestions as to how best it may be utilized, both in its own form and in smaller derived books.

"This chapter should be followed by one which treats fully of the fundamental economic problem underlying every important engineering enterprise, viz., its financial probabilities and possibilities—in other words, whether the project under consideration would prove to be a profitable investment.