This volume is the third of the important series prepared under the direction of Charles P. Howland for the Council on Foreign Relations. The current study is divided into three sections. The first is devoted mainly to the relations of the United States with China. The second, on "World Order and Coördination," deals with limitation of armaments and the Pact of Paris. The last section, on "Post-War Financial Relations," is largely concerned with the Young Plan and the metamorphosis of Alien Enemy property in the United States. Where necessary, the subjects treated have been put in their proper historical setting. Both in organization of facts and in interpretation the volume shows a thorough grasp of the complicated problems under discussion, and like its predecessors will occupy a permanent place on the shelves of those concerned with American foreign policy.