The Ricardo Fellowship.

The Ricardo Fellowship, with an annual income of $350, for the study of "Some Phase or Phases of the Relations of the Public to Public Service Corporations, including the questions of Governmental and Municipal Ownership and Management," will be awarded for the year 1898-99.

The incumbent will be selected from among candidates who shall hand in essays on the subject whereof the study is to be promoted by the Fellowship. Competition is open to all candidates for the degree of A. B. in Harvard University in the year 1898, and to members of the Graduate School and the Law School; and, by the terms of the gift, the award is to be made solely with regard to promise and capacity as evidenced by the essays and the general records of candidates, and without regard to their pecuniary means. The holder of the Fellowship will be under obligation to continue the study of the subject at Harvard University in 1898-99, with a view to the eventual publication of some results of his investigations.

The award and administration of the Fellowship will be in charge of the Department of Economics. The essays of candidates must be handed in not later than September 1, 1898, and the award will be made not later than September 20, 1898. The essays may be historical, theoretical, or descriptive; they may refer to one industry alone, or to general questions arising in connection with several industries; they may refer to one country or place, or discuss and compare the experience or the problems of several countries.

It is not expected that they shall be monographic in character, or involve an elaborate inquiry into the subject in hand; but rather that they shall give evidence of ability to state clearly the result of careful thought. They should contain not less than 5000 words, and are not expected to contain more than 10,000. While the merit of the essays will be an important element in the award of the Fellowship, regard will in every case be also paid to the previous course of study and to the candidate's success therein.

Essays must be addressed to the Department of Economics, in care of the Corresponding Secretary of Harvard University, Cambridge, Mass., and must reach the Secretary's office not later than September 1, 1898. Each essay must be neatly written or typewritten, and must bear an assumed name. Under the same cover, a sealed envelope must be handed in, containing a memorandum of the writer's name, his address for the time being, his standing in the University, and the previous course of his studies.