The power of the Reichstag to legislate is, in the second place, limited by powers assigned to the President in certain matters. He has the right to veto any law passed by the Reichstag, in the sense that, according to Article 73, he is not obliged to promulgate the laws voted, and may within a month submit it to a referendum. If the President is convinced that a bill voted by the Reichstag with the consent of the Reichsrat is against the welfare of the people; or if there are serious objection lodged against it of another character; or if he believes that the law does not correspond with the conceptions held by the people, his situation as an independent organ of popular sovereignty gives him the right and imposes on him the duty of submitting this project to a referendum. In addition, the Constitution (Article 72) authorizes him to disregard a demand on the part of a third of the Reichstag that the promulgation of a law passed by the Reichstag and approved by the Reichsrat be deferred. He can, therefore, promulgate the law voted and give it operative power when the Reichstag and the Reichsrat declare it to be urgent. In the third place the legislative power of the Reichstag is limited by the right reserved by the people itself to decide, and in certain cases directly on this or that project of law. Such are the cases we have described as touching the Constitutional provisions for initiative and referendum. We must finally note, as the fourth legislative factor, the Economic Council, whose powers, it is true, cannot be considered as constituting a limitation of the Reichstag’s powers, but which may nevertheless be called in to co-operate with the latter in the preparation of laws. Such are the organs that participate in the legislative work. We must now see in what manner they function and how a law is passed through this intricate mechanism. The _initiation_ of a law can take place under any of the following conditions: 1. The Government of the Reich, that is to say, the Cabinet, has in the first instance, the initiation of laws. In theory the Cabinet is supposed to proceed with the consent of the Reichsrat; but in case this agreement is refused, the Cabinet may nevertheless submit the bill to the Reichstag together with a statement of its attitude. (Article 69.) 2. Members of the Reichstag may also introduce bills. (Article 68.) 3. The Reichsrat also has the right of initiation. In theory it is supposed to act on a bill in harmony with the Cabinet. But if the latter refuses its consent to a bill, the Reichsrat may still submit it to the Reichstag together with a statement of its point of view on it. (Article 69.) 4. The people themselves may initiate a proposal for a law. (Article 73.)