At last the Tariff Commission is formed with Professor Taussig at its head. After six months' delay in appointing its members, the President has cleared the situation through his recess appointments and the board is ready for action.

Professor Taussig and his colleagues have a difficult problem ahead of them: to cope with commercial conditions which have not been paralleled in the history of the world. They will have the heavy responsibility of advising Congress not only in war times, but in the great reconstruction period afterwards, in adjusting our national tariff, dealing with the new foreign tariffs, and framing new treaties for the expansion of trade. In addition to keenness of judgment and a broad range of experience, they must possess unfailing resourcefulness in tackling situations which will have no precedent.

Professor Taussig is the right man for the task. For many years his sound thinking and big personality have commanded increasing respect not only in the ranks of theorists, but also among the practical business men and legislators of the day. It is quite natural that this great ability should be needed at Washington in the perplexing decade ahead. When his national service is completed we sincerely hope that he will return to take up his old position as a member of the Faculty and brilliant expounder of economic principles.