"'The point which the investigations of the Society for Psychical Research have already reached creates a question of transcendent interest, no matter what the solution of it may be, and will stimulate in the near future an amount of psychological and theological speculation of the most hasty and crude sort, which it will require the profoundest knowledge of mental phenomena, normal and abnormal, and the best methods of science to counteract, and to keep within the limits of sober reason. The hardly won conquests of intellectual freedom and self-control can easily be overthrown by a reaction that will know no bounds and which it will be impossible to regulate. Though there may be some moral gain from the change of beliefs, as will no doubt be the case in the long run, we have too recently escaped the intellectual, religious, and political tyranny of the Middle Ages to contemplate the immediate consequences of the reaction with any complacency. But no one can calculate the enormous effect upon intellectual, social, and political conditions which would ensure upon the reconciliation of science and religion by the proof of immortality." IV. CONCLUSIONS. In my investigations of the physical phenomena of modern spiritualism, I have come to the following conclusion: While the majority of mediumistic manifestations are due to conjuring, there is a class of cases not ascribable to trickery, namely, those coming within the domain of psychic force--as exemplified by the experiments of Gasparin, Crookes, Lodge, Asakoff and Coues. In regard to the subjective phenomena, I am convinced that the recently annunciated law of telepathy will account for them. _I discredit the theory of spirit intervention._ If this be a correct conclusion, is there anything in mediumistic phenomena that will contribute to the solution of the problem of the immortality of the soul? I think there is. The existence of a subjective or subliminal consciousness in man, as illustrated in the phenomena mentioned, seems to indicate that the human personality is really a spiritual entity, possessed of unknown resources, and capable of preserving its identity despite the shock of time and the grave. Hudson says: "It is clear that the power of telepathy has nothing in common with objective methods of communications between mind and mind; and that it is not the product of muscle or nerve or any physiological combination whatever, but rather sets these at naught, with their implications of space and time.... When disease seizes the physical frame and the body grows feeble, the objective mind invariably grows correspondingly weak.... In the meantime, as the objective mind ceases to perform its functions, the subjective mind is most active and powerful. The individual may never before have exhibited any psychic power, and may never have consciously produced any psychic phenomena; yet at the supreme moment his soul is in active communication