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of the world, is influenced largely by the past. The stream of existence, if the simile may be permitted, reaches us deeply coloured by the soil of the fields through which it has flowed, by the varied strata of the cliffs—some of them undermined by it—that have bounded its long and devious course.

Considerations of space have necessarily confined the scope of the work mainly to the developments of economic study in England, the United States, and our English-speaking colonies—and, in regard to these, an endeavour has been made to present under all the subjects treated an account of the best and most recent authorities ; whilst the opinions held in other countries have also, as far as the required limits allowed, been considered and mentioned.

The biographies introduced have been selected with the same end. They show what has actually been written in former times, and hence will enable the reader to trace the progress of economic thought. Much attention has been given to the less-known writers. It is difficult for the student under ordinary circumstances to trace out when such authors lived, the surroundings which influenced their lives, and the opinions they held. While the oversights in science are sometimes as remarkable as the discoveries, these earlier labourers have not unfrequently been the precursors of other and better-known men, and have some times anticipated opinions that have held sway for long periods after them.

The different economic schools in the principal countries of the world are also described. Thus this volume contains notices of the American, Austrian, Dutch and English schools, and the French, German, Italian, and Spanish schools will follow in due course.

A work extending over so wide a range of subjects is, necessarily, the production of many minds, of writers whose pursuits, occupations, and studies are very diverse and varied. I desire to record my warm thanks to the contributors to the book, which is, I think, in itself an almost unique example of economic co-operation. Where all have assisted so heartily, it is less easy to select individual names; but I wish to be allowed to express my special thanks to Professor Dunbar, Dr. Keynes, Professor Marshall, Professor Montague, Professor Nicholson, Signor M. Pantaleoni, Mr. L. R. Phelps, Mr. L. L. Price, Mr. E. Schuster, Professor H. Sidgwick, and General Walker for valuable assistance in different directions, and particularly to Dr. Bonar, Professor Edgeworth, Mr. Henry Higgs, and Mr. H. R. Tedder, who have kindly helped in the more arduous labour of the preparation of the work for the press.

This is but an act of justice, that readers may know to whom they are specially indebted.

R. H. INGLIS PALGRAVE. BELTON, NEAR GREAT YARMOUTII,

Christmas 1893.

1

TABLE OF CONTENTS

The numbers immediately following the headings of the Articles are those of the pages on which

the Articles will be found. BIOGRAPHIES in small capitals.

Abatement or Rebate, 1

AGAZZINI, M., 20

| Angel, 40

ABBOT, C., Lord Colchester, 1 Agency, Law of, 21

Ama, 40

ABEILLE, L. P., 1

Agents of Production, 21

Annates, 40

Abolitionist, 1

Agio, 22

Annealing, 40

ABOUT, E., 2

Agiotage or Agio, 22

Annual Rent, Scotch, 40

Abrasion, 2

Agnati (Adnati), 22

Annuity, 40

Abroad (see Jurisdiction), 3 Agricultural Community, 22 ANSELL, C., 42

Absentee, 3

Agricultural Gangs (see Gangs), 26 Antedate, 42

Abstinence, 4

Agricultural Holdings Acts, 26 Antichresis, 42

Abstract of Title, 5

Agricultural Systems, 27 Anti-Corn-Law League, 42

Abstract Political Economy, 5 Agriculture in England, 27 Anti-Rent Agitations, 42

Abundance, 5

AICKIN, Rev. J., 30

ANTONINUS, Sr., 43

Acceptance, 6

Aid, Auxilium, 30

A Posteriori reasoning, 43

Acceptilation, 6

Aid, Ratein (see Local Taxation),30 Appanage, 43

Acceptor, 6

Aides, Cour des, 30

APPLETON, N., 43

Accessio, 6

AIKIN, J., 30

Applied Economics, 44

Accession, Deed of (see Bank-AISLABIE, J., 30

Apportionment (No. 1), 44

ruptcy, Scotch), 6

Alba Firma, 30

Apportionment (No. 2), 44

Accommodation Bill, 6

Alcavala, 30

| Appraisers, 45

Account, 6

ALCOCK, Rev. T., 31

Appreciation of Standard, 45

Account Duty (see Death Duties), Aleatory, 31

Apprenticeship, 45

7

Ale-taster, 31

Apprenticeship, Statute of, 46

Accounts, Merchants' (see Pre- ALGAROTTI, F., 31

Appropriation, 47

scription, Scotch), 7

Alieni Juris, 31

Approved Bill, 47

Accretion, 7

Aliens, 31

A Priori reasoning, 47

Accrue, 7

ALISON, Sir A., 32

AQUINAS, ST. THOMAS, 48

Accumulation, 7

ALISON, W. P., 32

Arable Land, Conversion to

ACHENWALL, G., 7

Allmend (see Agricultural Com- Pasture in Great Britain, 49

ACKERSDYK, J.,

8

munity), 32

Arbitrage (Stock Ex.), 50

Acknowledgment, 8

Allonge, 32

Arbitrage (General Business), 50

ACLAND, Rev, J., 8

Allotment, 32

Arbitrage (Exchange), 50

Acquittance, 8

Allowance, Tare, 33

Arbitration between Employers

Act of Bankruptcy (see Bank- Allowance System, 33

and Employed, 51

ruptcy, Scotch), 8

Alloy, 34

Arbitration, Scotch, 52

Actor Sequitur Forum Rei (sce Alod, Alodial Land, 35

ARBUTHNOT, J., 52

Jurisdiction), 8

Alternative Standard, 35

ARBUTHNOT, J., of Mitcham,

Actuary, 8

ALTHUSIUS, J., 36

52

Actus, 9

Altruism, 37

Arco, G. G., DEI CONTI D'ARCO, 5

ADAMS, C. F., 9

Amana Society, The, 37

ARGENSON, R. L. DE VOYER DE

ADDISON, J., 9

Amercements, 37

PAULMY, Marquis de, 52

Ademption of Legacy, 9

American School of Political Argentarii, 52

Adjustment, Average, 9

Economy, 37

Aristocracy, 52

Administration, 10

Amortisation, 38

ARISTOTLE, 53

Administration, Letters of, 14 Amsterdam, Bank of (see Banks, Arithmetic, Political, 55

Administrator, 15

Early European), 38

Arithmetic, Political, History

Adulteration, 15

Analytical Method, 38

of, 56

Ad Valorem Duty, 15

Anarchism, 38

Arithmetical Ratio, 57

Advances, 16

Anatocismus, 39

Arles or Arrhes, 57

Adventurers, Merchants, 16 ANDERSON, A., 39

Armed Neutrality, 57

Advice, 18

ANDERSON, J., 39

ARMSTRONG, C., 57

African Companies, Early, 18 ANDERSON, J. (No. 2), 40 ARND, K., 58

African Companies, Recent, 19 Angarie, Droit d', 40

ARNOULD, A. M., 58

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84

Arrangement with Creditors (see Autumnal Drain, 73

Bank Note, 111

Bankruptcy), 58

AUXIRON, C. F. J. D', 74

Bank Note, Laws in different

Arrangement, Deed of, 58

Average, 74

Countries, 112

Arrears, 58

Average (Maritime), 74

Bank Note, United States of

Arrest, 58

Award, 75

America, 113

Arrestment (Scots Law), 58 AZUNI, D. A., 75

Bankruptcy in Scotland, 114

Arrestment Jurisdictionis Fun-

Bankruptcy Law and Administra-

dandæ causa (see Jurisdiction, BABBAGE, C., 75

tion (England), 116

Scotch), 58

BABEUF, F. N., 77

Banvin, droit de, 118

ARRIVABENE, G., Count, 58 Back-Bond (Scots law term), 78 Barbary Co. (see Turkey Co.), 119
Art of Political Economy, 58 Backwardation, 78

BARBON, N., 119

Artél, 59

BACON, F. (Viscount St. Albans), BARING, Sir F., Bart., 121

Articles of Apprenticeship, 59 78

BARNARD, Sir J., 121

Articles of Association, 59 Badger, 78

Barrator, 121

Articles of Roup (Scotch), 60 BAGEHOT, W., 79

BARRINGTON, Bishop S., 121

Artisan, 60

Bailee, 82

Barter, 121

Arts and Crafts (see Corporations BAILEY, S., 82

Barter and Exchange, 122

of Arts and Trades), 60 BAILEY, S., on Value, 82 BARTON, J., 122

As, 60

BAILY, F., 83

BASTIAT, F., 123

ASGILL, J., 60

BAINES, E., 83

BASTIAT as a Theorist, 124

ASHBURTON, A, B., 60

BAINES, Sir E., 83

BATBIE, A. P., 124

ASHLEY, J., 60

BAINES, T., 84

Bate's Case, or the Case of Im-

Assay, 60

Bairn's part of Gear (see Legitim), positions, 125

Assessed Taxes, 61

BAUDEAU, N., Abbé, 125

Assessment, 61

BAKOUNIN, M., 84

BAUDI, C. di V., 125

Assets, 62

Balance of Trade, 84

BAUMSTARK, E., 125

Assiento Treaty, 62

Balance of Trade, History of BAXTER, R. D., 126

Assignat, 62

Theory, 85

Bazaar, 126

Assignation (Scots Law Term), 64 Balance Sheet, 88

BAZARD, Saint-A., 127

Assignee, 64

Balance Sheet (2nd Statement), Bear, 127

Assigment, 64

88

Bearer (Securities), 127

Assignment, Deed of, 64

BALBI, A., 89

BECCARIA, C. B. (Marquis), 127

Assignor, 64

BALDWIN, L., 90

BECHER, J. J., 128

Assize of Bread and Beer, 64 BALSAMO, P., 90

BECKMANN, J., 128

Assize of Weights and Measures, BAMFORD, S., 90

Bede (Manor), 128

64

Ban, 90

BEEKE, Rev. H., 129

Assumption, Deed of (Scots Law Banalités, 90

BELDAM, 129

Term), 65

Banco, 90

BELL, W., 129

Assurance (see Insurance), 65 BANDINI, S. A., 91

BELLERS, J., 129

Assythment (Scots Law), 65 BANFIELD, T. C., 91

BELLITTI, G., 129

Ateliers Nationaux, 65

Banking, 91-

| BELLONI, G., 129

ATKINSON, W., 66

Bank of England, 92

Benefice (1), 130

Attachment, 66

Banks, England and Wales, 93 Benefice (2), 130

Attestation, 67

do. Scotland, 95

Beneficium Cedendarum Acti-

Attorney, Power of, 67

do. Ireland, 96

onum (Scots law Term), 130

Attornment, 67

do. India and Australian Beneficium Competentiæ, 130

ATTWOOD, T., 67

Colonies, 97

Beneficium Divisionis (Scots law),

ATTWOOD, T., and Birmingham Bank of France, 97

130

School, 67

French banks, 98

Beneficium Excussionis, 130

Aubaine, Droit d', 68

Bank of Germany, 98

Beneficium Inventarii, 130

AUCKLAND, W. E., Lord, 68 German banks, 99

Benevolences, 130

Auction, 68

Chartered Banks in Scotland, BENTHAM, J., 131

AUDIFFRET, C. L. G., Marquis d', 100

Bequest, Power of, 133

68

Banks in Canada, 100

BERKELEY, G., Bishop of Cloyne,

AUDIGANNE, A., 69

Banks, National, United States, 134

Audit, 69

America, 102

Berlin Decrees (see Continental

Andit (Scots Law), 71

Early European Banks-

System), 135

Audit Office, 71

Amsterdam, 104

BERNARD, Sir T., 135

Auditor of Court of Session, 72 Genoa, 104

BERNHARDI, T. von, 135

Augmentations, Court of, 72

Hamburgh, 105

BESOLD, C., 135

AUGUSTINIS, M. DE, 72

Middleburgh, 106

Betterment, 136

Aulnager, 72

Rotterdam, 106

Betterness, 138

Auncel, or Handsal Weight, 73 Sweden, 104

Bezants, 139

Austrian School of Economists, Venice, 103

BIANCHINI, L., 139

73

Land Banks, Germany, 106 BIBLIA, F., 139

Authorities, Economic (see Politi. Popular Banks, Germany, 109 BIDDLE, N., 139

cal Economy, Authorities on), Popular Banks, Italy, 109 BIEL, G., 140

73

Savings Banks, 110

BIGELOW, E. B., LL.D., 140

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Bill Broking, 140

BOTERO, G., 169

Buying in, 196

Bill of Exchange, 142

Bottomry, Loan on, 169 By-law, Byelaw, 196

Bill of Exchange, Law of, 143 BOULAINVILLIERS, H. DE, 170 By-product, 197

Bill of Lading, 145

Bounties, 171

By-products, Theory of Value of,

Bill of Sale, 145

Bounties, Abstract Theory of, 172 197

Billon, 146

Bounties on Sugar, 173

Bi-Metallism, 146

Bourgeois, 174

CABET, E., 197

Birth-rate, 150

Bourse, 174

Cable Transfer, 199

BIUNDI, G., 151

Bourse du Travail, 174

Cadastral Survey, 199

BLACK, D., 151

BOWEN, F., 175

CADET, F., 200

Black Death, The, 151

Boxhorn, M. Z., 175

CAGNAZZI, L. S., 200

Blackleg, 153

Boycotting, 175

CAIRNES, J. E., 201

Blairie, Droit de, 153

BRADLAUGH, C., 175

Caisse, 203

BLAKE, W., 153

Brands and other Certificates of Call, 203

BLANC, J. J. L., 153

Quality, Government, 175 CALONNE, C. A. DE, 204

Bland Act, 154

Brassage, 176

CALVIN, J., 204

Blank Credit, 155

BRASSEY, T., 176

Cambage, Droit de, 206

Blank Endorsement, 155

BRAY, C., 176

Cambist (see Exchange Broker),

Blank Transfer, 155

BRAY, J. F., 177

206

BLANQUI, J. A., 155

Breach of Trust (Scots criminal CAMBON, P. J., 206

Blench (Scots law term), 155 law term), 177

CAMBRELENG, C. C., 207

Blockade, 156

Breach of Trust, 177

Cameralistic Science, 207

Board, 156

BRECK, S., 177

CAMERARIUS, J., 208

Board of Agriculture (1793), 156 Brehon law, 178

CAMPANELLA, T., 208

Board of Agriculture (1889), 157 Brevi Manu Traditio, 178 CAMPOMANES, P. R., 208

Board of Trade, 158

BREWSTER, Sir F., 178

Canals, 208

Boarding-out System, 159 BRIGANTI, F., 179

CANARD, N. F., 209

BOCCHI, R., 160

BRIGHT, J., 179

Cancel, Cancellation, 209

BÖCKH, A., 160

BRINDLEY, J., 179

CANCRIN, G., 210

Bociand, 160

BRISCOE, J., 179

Candareen, 210

BODIN, J., 160

BRISSOT DE WARVILLE, J.P., 179 CANNING, G., 210

Body Corporate, Corporation, 161 BROGGIA, A., 180

Canon Law, 211

BECLER, J. H., 161

Broker, General, 180

CANTALUPO, D., 214

BOILEAU (or BOYLEAU), E., 161 Broker, Stock, 181

CANTILLON, P., 214

BOISGUILLEBERT, alias BoISGUIL- Brokerage, 181

CANTILLON, R., 214

BERT, P., 162

BROUGHAM, H., Lord, 181 CAPELLO, P. A., 217

BOLLES, J. A., 162

BROWN, J., 181

Capitainerie, 217

BOLLMAN, J. E., M.D., 162 BRYDGES, Sir E., 181

Capital, 217—

Bon, 162

Bubble Act, 182

History of the Word, 221

Bonà fide, 162

Bubbles, History of, 182

Legal ruling that Capital need

Bona notabilia, 163

BUCHANAN, D., 183

not be replaced from Profits,

Bona vacantia, 163

BUCHEZ, P. J. B., 184

221

BOSCERF, P. F., 163

BUCKLE, T. H., 184

Rarely permanent, 222

Bond, 163

Budget, The, 185

Capitation (in France), 223

Bond of Caution (Scots Law Term, Building Societies, 188

Capitation Taxes, 223

---see Caution), 163

BÜLAU, F. von, 190

CARACCIOLI, D., 224

Bond of Corroboration (Scots Bull, 190

CARAFA, D., 224

law), 163

Bull of Borgia, 190

Carbonari, 225

Bond and Disposition in Security, Bullion, 191

CARDOZO, I. N., 225

163

Bullion Committee, Report of, Carey, H. C., 225

Bond of Relief (Scots law term), 191

CAREY, M., 227

163

BUONARROTI, P., 192

CARLI, G. R., 227

Bonded Warehouses, 163 BUQUOY, G. F., Count, 192 CARLYLE, T., 227

BOXNET, V., 164

Bureau of Labour, 192

Carolus (English), 228

Bonorum Possessio, 164

Bureau of Labour in U.S., 193 Carolus Dollar, 228

Bonus, 164

Bureaucracy, 193

Carrier, Common, 228

Book account credit, 164 BURET, A. E., 194

Carrying Over, 228

Book-keeping, 164

Burgh, 194

Carrying Trade, 228

Do. Logismography, 165 Burgher (see Citizen), 194 Cartel, 229

Book of Rates, 167

BURIDAN, J., 194

Cartogram, 229

Boom, 168

Burke, E., 194

Carucage, 229

Booty, 168

BURLAMAQUI, J. J., 195

CARY, J., 230

BORNITZ, J., 168

BURTON, J. HILL (see Hill Bur- CASAREGIS, J. L. M. DE, 230

Borough, 168

ton, J.), 195

Case of Need (see Bill of Ex-

Borough English, 168

Büsch, J. G., 195

change), 230

BOSANQUET, C., 168

Büsching, A, F., 196

Cash, Money, 230

BOSELLINI, C., 169

Butel-DUMONT, G. M., 196 Cash (or Li), 230

Boston Port Bill, 169

| Butlerage, 196

Cash Account, 231

.

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277

Cash Credit, 231

CHICKERING, J., M.D., 277 CLIFFE LESLIE (see Leslie, J. E.

Cash, Sale for, 231

Chief Rent (see Rent Charge), C.), 313

Cashier, 231

Clipped Money, 313

Caste, 231

CHILD, Sir J., 277

Cloff or Clough, 313

Casuel, 233

Childrens' Labour (Factory Acts), Coalitions (see Trades' Unions),

Casus, 233

277

313

Catallactics, 233

Chiminage, 279

Coasting Trade, 313

Catasto, 233

CHITTI, L., 279

COBBETT, W., 314

CATTANEO, C., 234

Chorogram, 279

COBDEN, R., 316

Cattle Plague Orders, 234 Choses in Action, 279

COCHUT, P. A., 317

Caution (Scots Law Term), 234 Choses in Possession, 279 Code Napoléon, 317

Caution, 234

Chrematistic (or Money-making), Codicil, 318

Caveat, 234

279

Coinage, The Right of, 318

Caveat Emptor, 234

Christian Socialism, 280

Coinage, Decimal (see Decimal

CAVOUR, Count C. B. DI, 234 Christianity and Economics System), 318

CAYLEY, E., 237

Church, the Mediæval, Econ- COKE, R., 318

Cedula, 237

omic Influence of, 280 COLBERT, J. B., 319

Cens, 237

Roman Catholic School of Collateral Security (see Caution),

Census, 238

Economics, 283

320

Census, United States, 243

Influence of Protestant Thought Collation (see Succession, Scot-

Cent, Centesimo, or Centavo, 250 on Economic Opinion and land), 320

Cent, Dutch, 250

Practice, 285

Collect, 320

Centesimi, Centimes, Centimos, Chronogram and Hexogram, 287 Collective Goods, 320

250

Church Seed, 287

Collectivism, 320

Centralisation, 250

CIBRARIO, G. A. L., Count, 287 Collegium, 320

Certainty, 251

Cinque Ports, 287

Colonies-

Certificate, Share, 251

Ciompi, 288

Colonies, description of, 321

CESARE, C. DE, 252

Circulating Medium, 288

Colonial Policy, 322

Cess, 252

Citation (see Jurisdiction, Scotch), Colonial Lands, 323

Cessio Bonorum (see Bankruptcy, 288

Public Debts of Colonies,

Scotch), 252

Citation, 288

324

Cessionary (Scots law term), 252 Cité Ouvrière, 288

Trade and the Flag, 324

CEVA, G., 252

Citizen, 289

Methods of Government, 326

CHADWICK, Sir E., 252

City-

Currency in British Colonies,

Chaffer, 254

Ancient, 290

326

CHALMERS, G., 254

Mediæval, 292

Denominational Currency in,

CHALMERS, T., 255

Modern, 295

328

CHAMBERLAYNE, E., 256 City of London, Companies of Government of, by Companies,

CHAMBERLEN, H., 257

(see Companies, City of Lon 329

Chambers of Agriculture, 257 don), 297

Systems of Colonisation, 333

Chambers of Commerce, 258 Civil Law, 297

CoLQUHOUN, Patrick, 334

Chambre Ardente, 260

Civil List, 300

COLTON, Rev. Calvin, 335

CHAMILLART, M. DE, 260 Civilisation, 302

COLWELL, Stephen, 335

Champart, 260

CLARKSON, T., 303

Combination-

Champion and Severalty, 260 Classical Economists, 303

Production, 335

Change, Abbreviation for Ex- Classification, 303

Distribution, 336

change, 261

CLAY, H., 304

Production and Distribution,

Change (Agents de), 261

CLAYTON, D., 305

336

Chapman, 262

Clearing System-

Distribution and Consumption,

Charging Order, 262

Clearing Houses, 305

336

Charitable Foundations, 262 London Bankers' Clearing Combination Laws, 336

Charitable Institutions, 264

House, 306

Comfort, Standard of, 337

Charity, 265

Provincial Clearing Houses, Commandite, Société en, 338

Charity Organisation, 266

307

Commerce, 338

Charity, State, 268

Foreign Clearing Houses, 307 Commerce British (History of),

Charter, 271

Statistics, 309

341

Charter Party, 271

Other Classes of Clearings, 310 Commercial Instrument, 346

Chartism, 271

Stock Exchange Clearing, 310 Commercial Law, 346

The Points of the Charter, Beetroot Sugar Association, 310 Commercial Routes (History of),
272

London Produce Clearing, 311 347

CHASTELLUX, F. J., Marquis de, Railway Clearing, 311

Commercial Science, 351

273

Cotton Clearing, 311

Commercial System, 351

Chattel or Chattel Personal, 273 CLÉMENT, A., 312

Commercial Treaties, 354

Checks on Population, 273 CLÉMENT, P., 312

Commissary (see Succession, Scot.

Cheques, Law of, 273

CLEMENT, S., 312

land), 355

CHERBULIEZ, A. E., 274

Clergy, Benefit of, 313

Commission Agent, 355

Chevage, 274

Client, 313

Commissions of Enquiry, 355

CHEVALIER, M., 275

Client, Stockbroker's, 313 Commissions, Judicial, 356

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