ELY, RICHARD THEODORE (1854- ), American economist, was born at Ripley, New York, on the 13th of April 1854. Educated at Columbia and Heidelberg universities, he held the professorship of economics at Johns Hopkins University from 1881 to 1892, and was subsequently professor of economics at Wisconsin University. Professor Ely took an active part in the formation of the American Economic Association, was secretary from 1885 to 1892 and president from 1899 to 1901. He published a useful _Introduction to Political Economy_ (1889); _Outlines of Economics_ (1893); _The Labour Movement in America_ (1883); _Problems of To-day_ (1888); _Social Aspects of Christianity_ (1889); _Socialism and Social Reform_ (1894); _Monopolies and Trusts_ (1900), and _Studies in the Evolution of Industrial Society_ (1903). ELY, a cathedral city and market-town, in the Newmarket parliamentary division of Cambridgeshire, England, 16 m. N.N.E. of Cambridge by the Great Eastern railway. Pop. of urban district (1901) 7713. It stands on a considerable eminence on the west (left) bank of the Ouse, in the Isle of Ely, which rises above the surrounding fens. Thus its situation, before the great drainage operations of the 17th century, was practically insular. The magnificent cathedral, towering above the town, is a landmark far over the wide surrounding level. The soil in the vicinity is fertile and market-gardening is carried on, fruit and vegetables (especially asparagus) being sent to the London markets. The town has a considerable manufacture of tobacco pipes and earthenware, and there are in the neighbourhood mills for the preparation of oil from flax, hemp and cole-seed. Besides the cathedral Ely has in St Mary's church, lying almost under the shadow of the greater building, a fine structure ranging in style from Norman to Perpendicular, but in the main Early English. The sessions house and corn exchange are the principal public buildings. The grammar school, founded by Henry VIII. in 1541, occupies (together with other buildings) the room over the gateway of the monastery, known as the Porta, and the chapel built by Prior John de Cranden (1321-1341) is restored to use as a school chapel. A theological college was founded in 1876 and opened in 1881.