MEDIÆVAL life saw the beginnings of the modern system of economics ; there was a serious attempt to codify the ethics of commerce (for instance, the theory of the just price and the definition of usury accordiqg to moral contention); sleeping partnership can be traced to 1000 A.D. ; and Capitalism, with its two main factors of standardization and contract jobs, grow up during the Middle Ages. These are some of the points touched upon by Dr. Coulton in this his last talk, which brings us up to the virtual close of the Medieval era, i.e., the dissolution of the monasteries.