So many books have already been written on England's crisis, and so many of them have been good books, that M. Siegfried's conclusions will not strike the reader as being as original as the conclusions of some of his other writings. Still, the book is written with the same grasp and charm, and is well worthy of careful reflection as coming from so competent an authority. M. Siegfried has the statistics at his fingers' tips and has an unusual gift for interpreting them in the light of national psychology. He does full justice to the difficulties presented by the changed position of England resulting from the progress of industrialization in other countries and stresses the failure of British industry to reorganize in due time. He points out further the growing divergence in interest between the industrialists and the commercial and banking classes and explains very clearly the underlying problems of wages and labor. The picture is not a very hopeful one, but M. Siegfried is too wise to indulge in predictions of calamity.