We publish to-day the first of a series of four articles (under the title of The Investor and the Markels) which we hope will interest and some value to our readers, "The writer examines inter alia the circumstances that have led to the current depressed state of American industry and the world-wide. fall {in commodity prices, and indicates the directions in which relief may be found. Both the uld state of international relations to-day and the intimate ties between polities and business rule onl any confident attempt at forecasting the course of the markets: all that is aimed at 1s diagnosis of the ils now thwarting the process oot economic recovery. in America and. an understanding of their significance, "The. merchant or investor in Shanghai, absorbed in hi own Immediate problems arising from the Sino-Japanese hostilities, may easily lose his sense perspective and give scant regard to events fon the other side of the globe. The well-being of every great commercial centre in the toni run, however, is bound up with that of the rest of the world and though peace may be proclaimed, here to-morrow, recovery on the broadest tines must wait upon a solution pf the resent difficulties in the United States,
Text read from the printed page and cleaned; old type leaves the occasional error.