altogether identical with the Polish Jew. His higher development cannot be accounted for by any ethnological difference. It is simply that under quite different economic conditions of existence he has become a quite different person. Dr. Polyakoff, of Moscow, is, in fact, another man from, say, his grandfather, Pollak, of Poland. With these facts we now approach the real problem. The overcrowding of a calling engenders a competition in squalor among Christians as well as Jews, Aryans as well as Semites. The Jews, however, live in overcrowded callings all over the world, obeying historic laws of adaptation even where other callings, not overcrowded, are not closed to them. Hence we have the disagreeable phenomenon of the handing over of certain vocations to the Jews, which means nothing else than the injury of these callings by the trickery of the competition of squalor. Where no fetters are placed on the economic life, the healthy organism, in time, overcomes these local inflammations, as we may designate, by an expression taken from pathology, the influx of an abnormal number of cells of a certain sort to a place not intended for them. The crowding of the callings until self-support is impossible, the sinking of endurance in the overcrowded vocation, lead to a flowing off of the superfluous elements, and finally the whole organism has overcome the crisis of assimilation by forcing each particle where it is economically most valuable. In Germany the adjustment cannot be far away. The fact of the unheard-of economic growth during the past fifteen years, and the unusual increase of prosperity in all branches, show at least that Germany in its bare fifty years of Jewish emancipation has been in no way injured economically.