THE importance of lac in the markets of the world is well known to many; also the fact that at the present time India enjoys practically a worldwide monopoly of the lac industry. Owing to serious fluctuations in the price and output from time to time, speculation is rife and steps are being taken with the object of endeavouring to stabilise the trade. A Government inquiry was carried out by Messrs. H. A. F. Lindsay and C. M. Harlow, their report being published in 1921. An outcome of the report was the formation in the same year of the Indian Lac Association for Research. It was decided to build and equip a Lac Research Institute and to run in conjunction with it a small experimental plantation. The Association is managed by a committee of Europeans and Indians representing all branches of the trade. Funds are obtainable by a small cess imposed by the Government of India on all exports of lac, manufactured and unmanufactured. A report of the work of the four years (to Mar. 31, 1926) has been issued (Calcutta: Thacker, Spink and Co.).