At the end of the selections from Mellon's autobiography published in the December issue of the Bulletin, the author, having put his new banking house in order, was off on a trip to New Orleans. The present Bulletin carries his narrative forward from the time of his return until 1884, when his autobiography ends.

The general thread of interest which runs through the story of business experience from 1872 to 1884 is that of panic, liquidation, and recovery. The author gives an unusually good account of what happened during the panic, and he also tries to explain the coming of the panic of 1873 and the severe liquidation which followed.