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Joseph P. Cotton in the EVENING POST, New York, Jan. 30, 1920.—"Mr.Keynes's book is the lirst good book on peace and the reconstruction of Europe .The writing is pimple and sincere and true ... a great book with a realmessage."

Paul D. Cbavath in the SUN AND NEW YORK HERALD , Feb. 2,1920.—"No English novel during or since the war has had such a success asthis book. It should be read by every thoughtful American. It is the firstserious discussion of the Peace Treaty by a man who knows the facts and iscapable of discussing them witli intelligence and authority."

Harold J. Laski in the NATION, New York , Feb. 7, 1920.—"This is a verygreat book. If any answer can be made to the overwhelming indictment of theTreaty that it contains, that answer has yet; to be published. Mr. Keynes writes with a fulness of knowledge, an incisiveness of judgment, and apenetration into the ultimate causes of economic events that perhaps onlyhalf-a-dozen living economists might hope to rival. Nor is the manner of hisbook less remarkable than its substance. The style is like finely-hammeredsteel. It is full of unforgettable phrases and of vivid portraits etched in thebiting acid of a passionate moral indignation."

F. W. Taussir, Harvard University , in the QUARTERLY JOURNAL OFECONOMICS, Feb. 1920.—"Mr. Keynes needs no introduction to economists.The high quality of his work is known. This book shows the sure touch, the wideinterests, the independent judgment, which we expect. It shows, also, finespirit and literary skill. . . . Coming to the economic provisions of the Treaty , Ilind myself in general accord with what Mr. Keynes says. He makes out anestimate of what Germany can do in the way of reparation. . . . The maximumcannot, in his judgment, exceed ten billions of dollars. Some such figure, it isnot improper to say, was reached independently by Professor A. A. Young in hisestimates for the American financial advisers."

FINANCIAL WORLD, New York City , Feb. 16, 1920.—"There is athousand dollars of information in it for the average business man."

Frank A. Vanderlip in CHICAGO NEWS, March 3, 1920.—"I regard itas the most important volume published since the Armistice. It is certain to havea profound etl'ect on world thought. It is a deep analysis of the economic structureof Europe at the outbreak of the war, a brilliant characterisation of the PeaceConference, a revealing analysis of the shortcomings of the Treaty, a dissection ofthe reparation claims, done with the scientific spirit and steadiness of hand of agreat surgeon, a vision of Europe after the Treaty , which is the most illuminatingpicture that has yet been made of the immediate situation on the Continent, and,finally, constructive remedial proposals. Every chapter bears the imprint of amaster hand, of a mind trained to translate economic data, and of absolutelyunfaltering courage to tell the truth."

A lvin Johnson in the NE W REP UBLIC, April 14, 1920.—"There has beenno failure anywhere to recognise that Keynes 's Economic Consequences of the Peacerequires an ' answer.' Too many complacencies have been assailed by it. ...What progress are his critics making in their attack on it ? . . . There is sur-prisingly little effort made by American reviewers to refute the charge that theTreaty is in many respects in direct violation of the preliminary engagements,nor is anywhere a serious attempt made to show that those engagements were notmorally binding. . . . The critics have not seriously shaken Keynes 's characteriza-tion of the Treaty . They have not been able to get far away from agreementwith him as to what the Treaty should have been. They admit the desirabilityof revision."