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Every hospital has a cafe; most of us will have used one to wait for, or recover from, some ordeal. Those who know the Oasis say that this is a hospital cafe with a difference: it doesn't feel like it is in a hospital. They speak of the welcoming, peaceful atmosphere, the high quality of its fare and ambience, and the way it generates enterprise and opportunity for people with past or present mental health problems. In this article we want to share how the cafe came about, what people say about it and what we think the future holds.

THE regular search for the good book for the child will continue so long as there are children's libraries. A recent report on an enquiry has reached us from Bethnal Green and follows the familiar lines of getting the children to vote on what they like; with the result that the “William” books, which should be making all concerned in their production a fortune, head the list, and the simple “small”‐child books, the Milly‐Molly, Mandy series, come next. The field surveyed was small, for “William” polled only 34 votes; only 800 of the 6,000 children registered as borrowers participated. It is questionable if such enquiries, however much they interest us as librarians, can effectively help to improve child reading, unless some method of finding and providing high literature in the type the youngsters prefer can be devised. Mr. George F. Vale prefaces his brief list of books chosen with a really interesting discussion on the subject, but a quotation from it indicates part of the problem. He writes, speaking of Tom Sawyer, Alice and The Wafer Babies, “What elements go to make a permanent children's book is one of the mysteries of literature, but evidently these books possess some quality which overrides all the chances and changes of time. It is not merely the appeal of a good story; there are many better stories than The Water Babies. The secret seems to be some mysterious rapport between the author's mind and that of the readers, an ability to see and to think upon the level of the child mind.” All this is true, but it is more than that, we think; it is the power of recording what is, has been or may be, within the child's own range of experience; that is, it is true in that it realises the conditions of the world of childhood. It is curious, and possibly significant, that a book for children in these enquiries means a story. An enquiry is overdue into the type and quality of non‐fiction read by them, the sort of child who reads and in what circumstances: Real information here might reveal gaps and surpluses in book provision that are not now widely recognized!

IT is evident from the numerous press cuttings which are reaching us, that we are once more afflicted with one of those periodical visitations of antagonism to Public Libraries, which occasionally assume epidemic form as the result of a succession of library opening ceremonies, or a rush of Carnegie gifts. Let a new library building be opened, or an old one celebrate its jubilee, or let Lord Avebury regale us with his statistics of crime‐diminution and Public Libraries, and immediately we have the same old, never‐ending flood of articles, papers and speeches to prove that Public Libraries are not what their original promoters intended, and that they simply exist for the purpose of circulating American “Penny Bloods.” We have had this same chorus, with variations, at regular intervals during the past twenty years, and it is amazing to find old‐established newspapers, and gentlemen of wide reading and knowledge, treating the theme as a novelty. One of the latest gladiators to enter the arena against Public Libraries, is Mr. J. Churton Collins, who contributes a forcible and able article, on “Free Libraries, their Functions and Opportunities,” to the Nineteenth Century for June, 1903. Were we not assured by its benevolent tone that Mr. Collins seeks only the betterment of Public Libraries, we should be very much disposed to resent some of the conclusions at which he has arrived, by accepting erroneous and misleading information. As a matter of fact, we heartily endorse most of Mr. Collins' ideas, though on very different grounds, and feel delighted to find in him an able exponent of what we have striven for five years to establish, namely, that Public Libraries will never be improved till they are better financed and better staffed.

THE pages of the Library World have at all times been open to receive the opinions of every side, on all questions of library policy, and we believe that it can be fairly claimed that no other English professional journal can show a greater record of catholicity and freedom from prejudice. Just recently we have published three articles in succession, which plead for, or advocate, some method of mitigating what the writers term the “Fiction Nuisance,” and one result of our complaisance may be witnessed in the stir which has been caused in journalistic quarters, over the alleged shortcomings of Public Libraries, and their scandalous distribution of nothing but fiction! It is argued, with some justice, that, if librarians are so quick to admit the existence of a fiction nuisance, then the case must be very serious indeed; and that it is regarded in this light may be gathered from the article on “Free Libraries,” by Mr. J. Churton Collins, in the June Nineteenth Century. For some reason or another, best known, no doubt, to themselves, certain librarians are always ready to join in the hue and cry against Public Libraries, and to lend the sanction of their authority to the general execration of fiction reading, thus giving a weapon to the enemy which is promptly used to thrash municipal libraries into a pulp. For months past this outcry against libraries has been going on, and there cannot be a single doubt that it has been stimulated by, if it did not originate in, the injudicious apologies for high fiction percentages in some library reports, and the publication of articles by librarians who admit too much, without giving substantial grounds for their conclusions. We are unable to say whether such apologies and articles are dictated by the weak, but human, desire to side with the majority, but there can be no doubt as to their harmful tendency and the evil they are causing all over the country. It is time, therefore, that the other, and, we believe, true side of the question should be put forward, and we propose to devote a series of articles to show that the charges made against Public Libraries of being nothing but huge engines for the distribution of fiction, mostly bad in tone and quality, are either gross misrepresentations, or exaggerations capable of explanation, and justification. As an introduction to this series, we have obtained permission from Mr. Thomas Greenwood, to use the greater part of the paper entitled, “The Great Fiction Question,” which is printed in Greenwoods Library Year Book, 1897, and is now becoming scarce and difficult to procure, owing to the book being out‐of‐print; like the later Year Book of 1900–1901. This paper is a vigorous, fair, and able statement of the case for fiction, which has not received the amount of attention it deserves, and we think it will be performing a service to librarians if we reprint it as a preliminary to our own proposed examination of the question of Fiction Reading in Public Libraries:

THE topics of the Library Association Conference and the election of the Council of the Association naturally absorb a great deal of attention this month. To deal with the second first: there were few novelties in the nominations, and most of the suggested new Councillors are good people; so that a fairly good Council should result. The unique thing, as we imagine, about the Library Association is the number of vice‐presidents, all of whom have Council privileges. These are not elected by the members but by the Council, and by the retiring Council; they occupy a position analagous to aldermen in town councils, and are not amenable to the choice or desires of the members at large. There are enough of them, too, if they care to be active, to dominate the Council. Fortunately, good men are usually elected, but recently there has been a tendency to elect comparatively young men to what are virtually perpetual seats on the Council, simply, if one may judge from the names, because these men occupy certain library positions. It, therefore; is all the more necessary that the electors see that men who really represent the profession get the seats that remain.

The concept of a company's cost of capital is used in capital budgeting as a potential basic discount rate to be applied to expected future cash flows from a proposed investment project being subjected to evaluation for acceptance or rejection. Discounted‐cash‐flow capital budgeting techniques derive from valuation theory that determines present value of expected future cash flows by discounting them down to the present at a discount rate appropriate to the degree of risk involved. Conceptually, this is true with regard to both domestic investment and foreign direct investment. However, there is recognition in the literature that capital budgeting for foreign direct investment decisions may involve complexities not present in the domestic case. These include economic, financial, and political factors, and related risks, e.g., foreign exchange risk, blocked currencies, expropriation. On the other hand, foreign direct investment is thought to provide diversification benefits, so that risks that are not domestically diversifiable are internationally diversifiable, thereby eliminating some otherwise systematic risk. Complexities such as these place a considerable burden upon the concept of cost of capital as a discount rate appropriately reflective of the degree of risk involved in a foreign direct investment project. Furthermore, cost of capital may be affected by environmental factors associated with what country the parent corporation calls “home” (Stonehill and Dullum).

We issue a double Souvenir number of The Library World in connection with the Library Association Conference at Birmingham, in which we have pleasure in including a special article, “Libraries in Birmingham,” by Mr. Walter Powell, Chief Librarian of Birmingham Public Libraries. He has endeavoured to combine in it the subject of Special Library collections, and libraries other than the Municipal Libraries in the City. Another article entitled “Some Memories of Birmingham” is by Mr. Richard W. Mould, Chief Librarian and Curator of Southwark Public Libraries and Cuming Museum. We understand that a very full programme has been arranged for the Conference, and we have already published such details as are now available in our July number.

Examines provisions of the 1992 Regulation on the registration of geographical indications and designations of origin for agricultural products and foodstuffs. Also examines protection of such names under the United Kingdom Trade Marks Act and the law of passing off.

THE historian sometimes has a blissful dream that he has come across a mass of records previously unknown to exist but capable, in his hands, of forming the basis of an epoch‐making study. In 1921 it came true with the thrilling discovery of the documents on which Professor George Unwin was to base his Samuel Oldknow and the Arkwrights, which might be called the first business history. Oldknow's cotton mill at Mellor was then a ruin, having been destroyed by fire in 1892; all that remained was a detached portion which, though dilapidated, was used for stabling and for other odd purposes. One day a Boy Scout aroused curiosity by offering to passers‐by a number of weavers' pay‐tickets dating from the eighteenth century. His explanation, on being questioned, was that he had found them in this small outhouse. The find was quickly reported to Unwin, and he joined eagerly in the search among the dust and debris of the upper floor, to be rewarded by the discovery of heaps of letters, account‐books, wages‐sheets, and other manuscripts. Then began an engrossing task of cleaning and sorting. By incredibly good fortune the documents were found to include the records of Oldknow's previous business as a muslin manufacturer at Stockport, of his bleach and print works at Heaton Mersey, and of the beginnings of his enterprise at Anderton, as well as those of the Mellor mill itself.

THIS number will appear at the beginning of the Leeds Conference. Although there is no evidence that the attendance will surpass the record attendance registered at the Birmingham Conference, there is every reason to believe that the attendance at Leeds will be very large. The year is one of importance in the history of the city, for it has marked the 300th anniversary of its charter. We hope that some of the festival spirit will survive into the week of the Conference. As a contributor has suggested on another page, we hope that all librarians who attend will do so with the determination to make the Conference one of the friendliest possible character. It has occasionally been pointed out that as the Association grows older it is liable to become more stilted and formal; that institutions and people become standardized and less dynamic. This, if it were true, would be a great pity.