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but by Wood's patent it might be coined into 30d. To these objections it must be added that no Irish official, not even the lordlieutenant, or the council, had been consulted about the terms of the patent.

A

The patent was itself a scandalous job, and it was also a needlessly irritating assertion of English sovereignty. Irish opinion was roused, and both houses of parliament, usually submissive, petitioned against the scheme. haughty and threatening answer on the part of Wood only added fuel to the flame. In 1724 Swift came forward as the mouthpiece of the prevalent discontent in a series of letters which were signed M. B. Drapier, and professed to be the work of a Dublin tradesman. The importance of the letters is political rather than economic. Swift had no practical or theoretical grasp of currency questions. He made no attempt to state the real objections to the new coinage. On the contrary he adopted all the prevalent prejudices, and exaggerated and illustrated them with that suppressed yet masterful irony in the use of which he has never been surpassed. In the famous fourth letter he quitted the immediate question at issue, denounced the abuses of English misgovernment, and asserted the rights of the Irish nation to independence. The printer of the letter was prosecuted, but the jury rejected the bill in spite of judicial browbeating. The author, though his identity was notorious, was left unattacked, and the government found it necessary to yield to the storm which it had provoked. The whole importance of the episode lies in the impulse which it gave to the opposition to English rule in Ireland.

[The letters are to be found in Swift's collected works. For comments on them, see Craik's Life of Swift;-Lecky's History of England in the Eighteenth Century and Leaders of Public Opinion in Ireland;-Stanhope's History of England.]

R. L.

DRAWBACKS. In theory a drawback is a portion of the "mercantile system," and is intended to promote and encourage the exportation of commodities. It consists in the repayment of a duty which has been already paid in connection with the manufacture of the commodity in question, such repayment to be made on its export. Theoretically, therefore, drawbacks correspond to, and are similar to, BOUNTIES (q.v.), with this distinction-that a bounty is a direct gift to the exporter of goods, while a drawback should be merely the remittance of a tax in his behalf. It is this difference which caused Adam Smith to hold drawbacks to be the most reasonable form of encouragement to exportation; because, although they must from their nature favour certain classes of exporters, they cannot operate so as to draw more trade into any particular channel than would have been drawn had neither the tax nor the remit

tance of it existed in other words, they simply cancel the tax and leave trade free to follow its most natural course. It must always be remembered that Smith held very strong views in favour of absolute non-interference with industry, and was consequently averse to indirect taxation. Drawbacks may be manipulated so as to have the same effect as bounties and other devices for encouraging exportation. Where this is the case there is not only a loss of revenue to the country which repays the tax, but a subsidy is given on exports which amounts to paying the foreign consumer to buy certain goods.

Drawbacks, it will be seen, are much more restricted in their nature than bounties. As worked in this country they are comparatively unimportant. They are of no use in encouraging a rising industry in a new country, and are generally granted simply for the purpose of increasing the amount of export trade. Adam Smith's discussion of them (bk. iv. chap. 4) may be read with great interest. J. S. Mill, in bk. iv., where he deals with the various forms of protection, adverts to drawbacks; and generally all modern economists, who have written on the subject of political economy at large, treat of drawbacks along with bounties.

M. G. D.

DRAWER OF A BILL OF EXCHANGE. The person giving the order to pay contained in a bill of exchange is called the "drawer.' If the bill is not paid at maturity, he is bound to reimburse the holder, provided that all the necessary formalities have been observed (presentation in proper time, notice of dishonour, protest in the case of foreign bills, etc.) (See BILLS OF EXCHANGE.)

E. S.

A

DRAWING. This word is used to announce the redemption of certain bonds, as the borrower applies a periodical sinking fund to that purpose. The practice was originally connected with the simple process of drawing lots. borrowing government, for example, may engage to pay off 1 per cent of its loan every year, and then the question arises as to which bond out of every hundred in circulation shall be redeemed in order to make the redemption fair. A drawing is announced, the function being attended by public officials and other persons of unimpeachable integrity, and the bonds which happen to be drawn by lot are then advertised for repayment at par, or at whatever the stipulated price of repayment may be. Cases have been known in which holders of drawn bonds have gone on receiving dividends in ignorance of the drawing, and other cases are on record in which the drawn bonds having been sold on the stock exchange, it has been discovered several months or years afterwards that the said bonds were not a good delivery (see DELIVERY, GOOD). A question also has arisen where, if a borrowing government formally promises the drawing of 1 per cent of its

debt each year, it is really empowered also to redeem 2 or 3 per cent, or even the whole of the outstanding debt, and in the years of active redemptions-1888-90-borrowers found it so easy to raise fresh loans at diminished rates of interest that they were continually exceeding the rate of redemption by drawing beyond the proportion originally stipulated. The system of drawing is not altogether commendable, and was originally employed to give a kind of speculative attraction to bonds which would otherwise have been neglected by steady investors. That is, the objectionable element of hazard enters into the question, which ought to be purely one of the solidity of the borrower.

A. E.

DRENGAGE. A form of land tenure, common in, if not confined to, the district comprised in the ancient kingdom of Northumbria. Drenghs are mentioned in Domesday and in the survey called the Boldon Book. Sir Henry Ellis says: "The drenchs or drenghs were of the description of allodial tenants and from the few entries in which they occur it certainly appears that the allotments of territory they possessed were held as manors" (General Introduction to Domesday, tom. i. fol. 269). But, as menial services were required of them or their servants, at least in Durham, they must have been inferior to military tenants. The instance in the Pipe Rolls of Westmoreland, 25 Henry II. of the enfranchisement of drenghs, and the particulars given in the records of the palatinate as to the services attached, show that drengage was by no means a free tenure. The services of a drengh were to plough, sow, and harrow portions of his lord's land, to keep a dog and horse for his use, attend the chase with him, etc. "A drengage seems to have consisted of sixteen acres to be ploughed, sown, and harrowed" (Blount's Fragmenta Antiquitatis). The word is derived by Greenwell, in his glossary to the Boldon Book, from the Anglo-Saxon "dreogan," to work. Another derivation is from the Danish "dreng" a servant or boy. Spelman, however, defines drenghs as those who at the coming of William the Conqueror were put out of their lands and afterwards restored by him on proof of ownership (Tomlins), and Cowel says "drenched" is an obsolete word meaning overcome," and compares the German "tringen" (see also CORNAGE).

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DROIT, ANNUEL. See PAULETTE. DROITS OF ADMIRALTY. In England the Lord High Admiral (an office that has still a legal existence) has the benefit of all captures made at sea by non-commissioned vessels, and also of all captures of ships or goods made in the ports of England and Ireland through vessels coming in by stress of weather or other accident, or by mistake of port or by ignorance, not knowing of the war, and also of all derelicts.

By the 1 & 2 Vict. c. 2 it was enacted that the profits derived from droits of admiralty should be paid into the exchequer for the benefit of the state. Phillimore's International Law, vol. iii. London, 1873.

J. E. C. M.

DROITS D'AUBAINE. See AUBAINE. DROZ, JOSEPH, born at Besançon in 1773, died at Paris 1850. The incidents of his life were varied, and so were his opinions. Belonging to a family of high legal standing, he commenced life as a volunteer when the Revolution broke out; but afterwards laying down his arms, became professor of rhetoric at the central school of Besançon. He subsequently returned to Paris, where he was closely associated with the habitués of the Société d'Auteuil. The members of this club, who were Epicurean in spirit and taste, in most things kept themselves detached from the life of the 19th century. He derived from this association a fund of sanguine optimism which never failed. Towards the close of his life, he came under the influence of religion. He joined the Académie française in 1824, and the Académie des Sciences morales et politiques in 1833. 1829 he published his Économie politique ou principes de la science des richesses, 1 vol. in 8vo, a valuable work, but one in which he fails to distinguish, with sufficient exactness, moral from economic precepts. He also published in 1839-42 the Histoire du règne de Louis XVI. pendant les années où l'on pouvait prévenir et diriger la Révolution française, 3 vols. in 8vo. The dual title of this work is a sufficient indication of the line of thought pursued in it and the object proposed. A. C. f.

In

DRUMMOND, HENRY (1786-1860), banker, economist, and theologian, was the eldest son of Henry Drummond (d. 1794). He was brought up by his maternal grandfather, Viscount Melville, and was educated at Harrow and Cambridge, but took no degree. He became a partner in the well-known house at Charing Cross, and for many years had a leading share in its administration. Between 1810 and 1813 he was M.P. for Plympton Earls, and carried through parliament a bill against embezzlement by bankers of securities under their charge, which became law (52 Geo. III. c. 63). With his wife he started in June 1817 on a pilgrimage to Palestine, but on passing through Geneva he stopped to contend with

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the consistory on ecclesiastical discipline. In 1825 he founded the professorship of economy at Oxford. He was an apostle, evangelist, and prophet of the Irvingite Church, and built a church for that community at Albury, where he lived. From 1847 to his death he was M.P. for West Surrey. He was a frequent speaker in the House of Commons. Sir Henry Holland speaks of "the genial temperament and masculine, though eccentric intellect of Henry Drummond . . . who could not tread along the highway of common opinion either in religion or politics, but his aberrant path was always pursued with honesty as well as vigour" (Recollections, 1872, p. 156). Some of Drummond's numerous speeches and pamphlets were collected by Lord Lovaine, 1860, 2 vols. 8vo. His economical publications are:

Elementary Propositions on the Currency, London, 1819, 8vo (reprinted with additions in 1826, again in 1848, and with Speeches, etc., 1860, vol. ii.).—Cheap Corn best for Farmers, London, 1826, 8vo (anonymous: the landlords are the only gainers by the tax, all others, including the farmers, suffer).-Justice to Corn Growers and to Corn Eaters, London, 1839, 8vo (in favour of repeal with restrictions).-Causes which lead to a Bank Restriction Bill, London, 1839, 8vo ("the Bank of England is the only body which ought to have the power of issuing paper money," p. 20).– On the Corn Laws, London, 1841, 8vo. On the Condition of the Agricultural Classes of Great Britain and Ireland, with extracts from the Parlia mentary Reports and Evidence from 1833 to 1840, and remarks by the French editor published at Vienna, London, 1842, 2 vols. 8vo (with preface by Drummond; translation of two volumes published by the Austrian government to show "the folly of supposing that it is commerce and manufactures rather than agriculture which constitute the true wealth of this country," pref. xi.-xii. ). — Letter to the Bishop of Winchester on Free Trade, London, 1846, 8vo.-Speech on Motion on Public Expenditure, London, 1849, 8vo.-Letter to the Working Classes in Trades and Manufactures, London, 1859, 8vo (on the bad treatment received by them "from manufacturers, millowners, and poor-law guardians, and of the exertions made by noblemen and gentlemen to protect" them— p. 29).

[Lord Lovaine's Memoir, 1860.-Oliphant's Life of Edw. Irving, 1862, 2 vols.-Dict. of National Biography, xvi. pp. 28, 29.-Historical Register of the University of Oxford, 1888, pp. 67, 68.]

H. R. T.

1 Drummond charged his estate with a yearly rent of £100 for the endowment. The commissioners of 1877 increased the emoluments to £300 from the revenues of All Souls, besides £200 attached to a fellowship of the college. The professorship is for five years, but holders of the office may now be re-elected. The following have been the professors: 1825, Nassau W. Senior; 1830, Richard Whateley; 1832, W. F. Lloyd; 1837, Herman Merivale; 1842, Travers Twiss; 1847, N. W. Senior (second time); 1852, G. K. Rickards; 1857, C. Neate; 1862, J. E. Thorold Rogers; 1868, Bonamy Price (again in 1873, 1878, and 1883); 1888, J. E. T. Rogers (second time); 1891, F. Y. Edgeworth.

DRUNKARDS, LEGISLATION RESPECTING. The care and cure of habitual drunkards has, up to the present time, received little attention on the part of social reformers; yet it is as much within the province of legislation as the reception and detention of lunatics. A person with whom the craving for intoxicants has become an irresistible impulse, is not, strictly speaking, a person of sound mind, and it would be no undue interference with the liberty of the subject if such a person could be kept in confinement against his will. British legislation has, at any rate, recognised the principle that, if a dipsomaniac has once allowed himself to be confined in a licensed retreat, he cannot leave it before the expiration of the time during which he has undertaken to remain, unless he is previously discharged or allowed to go out on leave. Such retreats are, in England, licensed by the justices of the peace for the county or borough in which they are respectively situate, and are under the control of the Home Secretary and an Inspector of Retreats. Their number, so far, is very small, a fact which may be due to the circumstances that the Habitual Drunkards Act of 1879 was to remain in force for ten years only, and that the Inebriates Act of 1888 (by virtue of which the provisions of the first-named act, with some slight modifications, are now permanently in force) is of too recent date to have had its proper effect. There were at the end of 1890 seven retreats licensed to receive 100 patients, in which 59 patients were actually detained. Some interesting statistics are contained in the inspector's report relating to the Dalrymple House at Rickmansworth; 224 persons have been discharged from that retreat as to whose family history the following facts are stated:

detain patients against their will, and further, that some provision ought to be made for paupers or persons of small means.

It would also be desirable to make it possible to protect the property of inebriates in some such way as the property of lunatics may be protected. The Lunacy Act, 1890 (§ 116), authorises the judge in lunacy to give certain directions as to the management and administration of the property of any individual "with regard to whom it is proved to the satisfaction of the judge in lunacy that such person is, through mental infirmity arising from disease or age, incapable of managing his affairs," and in such a case to appoint some person to act in a similar capacity as the committee of a lunatic's estate (see COMMITTEE); and the Lunacy Act, 1891, § 27 (4), provides that the last-mentioned power may be exercised with reference to individuals who are not lunatics. It might possibly be held that a dipsomaniac is suffering from mental infirmity and incapable of managing his affairs, but as far as the writer knows, it has not as yet been attempted to apply the section in such a case, and it is very doubtful whether the judges would consider it applicable. Under these circumstances it would be preferable if the legislature would deal with the point in a direct

manner.

The bill relating to drunkenness which will shortly (1893) be submitted to the German Reichstag contains a clause which provides that a dipsomaniac who is incapable of managing his affairs, or who exposes himself or his family to the risk of impoverishment, or who imperils the security of any other person, may be placed under guardianship. The guardian is to have power, subject to the consent of the competent court, to cause the dipsomaniac to be confined in a retreat for inebriates, and in case of neglect on the part of the guardian to exercise the power, the court is to have authority to give the necessary directions in his place. A provision of this nature, if applied with care and discrimination, must be beneficial to the persons concerned, no less than to society at large.

E. S.

DRY EXCHANGE (Cambium siccum). A euphemism applied to the "coverture or "colouring" of the stringent statutes passed during the Tudor period against usury. "A cleanly term invented for the disguising of foul usury, in which something is pretended to pass on both sides whereas in truth nothing passes but only on the one side" (Cowel). Usury, which was condemned by religion and law alike during the middle ages, was from the middle of the 16th century no longer to be confounded with the legitimate employment of capital; but the sentiment which inspired the above enactments was that of governing classes associated with the landed interest.

[Cunningham, Growth of English Industry and

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DRY RENT (Rent sec). An annual rentcharge reserved upon lands conveyed by deed, without the insertion of a clause of distraint. Н. На.

DUBOS, ABBÉ J. B. (1670-1742), a member of the French Academy, and author of historical works and of a treatise on poetry and painting.

The one book of his which requires notice here is entitled Les Interests de l'Angleterre mal entendus dans la guerre présente (Amsterdam, 1703), and professes to be a translation from an English book. Speaking thus as an Englishman, the Abbé remonstrates against the war policy of the English administration. He is well acquainted with contemporary English pamphlets on the Tory side, especially with Davenant, whom he often quotes. He successively examines the effect of war on each branch of English trade and manufactures, and distinctly states (p. 80) that "the attempts we (the English) shall be obliged to make in order to enforce in the (American) colonies the just obedience they owe to the state which has founded them, will perhaps lead them to rebellion, when they will have learned that they can do without us."

Voltaire addresses him in a letter dated 30th October 1738, as "the most useful and judicious writer he knows," but, when writing to other people, he indulges in sarcasm about the Abbé's "mistaken" notions as to the interest of England.

E. Ca.

DUCAT, HISTORY OF. A gold coin (worth about 9s. 4 d.) in extensive use on the continent till this century, and adopted by successive emperors as the standard coin of the empire in the middle ages. The coin first makes its appearance in 1140 A.D., when Roger II., King of Sicily and Duke of Apulia and Calabria, issued silver coins to which he gave the name 'ducati," probably because they were first struck in the duchy of Apulia, especially called "il ducato," and bore, in an abbreviated form, the inscription-"Sit tibi, Christe, datus, quem tu regis, iste Ducatus" (Let this Duchy, O Christ, which thou rulest, be dedicated to thee). The coin then spread through Italy until, in 1252, it was formally adopted at Florence, and gold pieces were issued under the name of "ducati gigliati." These ducati gigliati, or florens d'or, as they were called elsewhere, were 24 carats fine, and 64 to the fine mark. Thirty-two years later, by a law passed in 1283 A.D., ducats were struck at Venice by the Doge John Dandolo, the second of the four celebrated Doges Dandolo, 67 to the fine mark, and each bearing the inscription of the original ducat of Apulia. In the 16th century, these ducats received the name of "zecchini" (sequins) from Zecca, the Venetian