G. The claim has been made that this method is not applicable to cases where no estimate of quantities has been made or for which no specifications have been prepared, and when it is necessary to let the work without delay. The correctness of this claim is granted, but its applicability should be confined to war work, in which the element of time is the principal consideration. In civil life, if a projector of an enterprise is in such haste to start his work that he has to omit the preparation of specifications and estimates of quantities before letting the contract, he certainly deserves what is coming to him in case it proves that he has placed himself in the hands of an unscrupulous contractor on the "cost-plus" basis.

H. It has been pointed out that the law will prevent certain public bodies from letting contracts on a "cost-plus" basis, and that such a ruling might apply to the writer's proposed method also. If such really is the case, the remedy would evidently be to modify the law so as to permit of its adoption; but would not the fact of its containing a clause which sets a limit to the contractor's total compensation always render the method legal? This, however, is a question for the lawyers to settle.

I. A prominent writer on economics has lately issued a tirade against gambling, especially as it applies to contractors guaranteeing owners against the cost of work exceeding the amount of the tender. The writer concurs in this theory to the extent that there should be no gambling on the amounts of assumed quantities of materials, or, in certain cases, on there not being any great rise in the average price of labor, or on possible loss through any reasonably great amount of hard luck; but there is certainly nothing unmoral or oppressive in insisting on his gambling to the extent of guaranteeing against his own incompetency, carelessness, or lack of forethought. The writer is of the opinion that a margin against actual money loss to the contractor, consisting of his estimated amount for contingencies, plus his requested profit, plus an equal profit for the owner, plus a substantial bonus for the employees, is amply large to guarantee him against all loss through ordinarily unfavorable eventualities; and that, in ninety-nine cases out of a hundred, if such a margin were exceeded, it would be because of the contractor's own fault.

Adoption of Method. If this proposed method of contract-letting and profit sharing is received with favor by engineers, architects, contractors, and builders in general, it could easily be adopted as a standard for the country by calling a small convention with a single representative from each of the leading technical and railroad societies, contracting organizations, bankers' associations, and labor guilds, to discuss the advisability of adopting it (or else some modification of it) and to report the decision of the meeting to the said bodies for their approval. If any large group of clients, such as the railroad companies, were to adopt the method as standard and use it, very soon everybody  having  construction  contracts  to  let  would  follow  their  example,  thus  making  it  the  universal  standard  of  contract-letting  for the  country — nor  would  it  be  long  before  other  American  coun-