92 



THE POPULAR EDUCATOR. 



TERMS USED IN COMMERCE. V. 



LAC. A term used in India, denoting a sum of 100,000. One 

 "nundred lacs equal one crore, or 10,000,000. 



LANDING ACCOUNT. An account taken by the various dock 

 companies and wharfingers of all goods landed, with their weights 

 and other particulars requisite to the importers, accompanied by 

 remarks as to the condition of the packages or merchandise. 



LANDING WAITER. A Customs' officer, whose duty it is to 

 examine and take account of all goods liable to duty, on their 

 being weighed after landing from the ship. 



LAY DAYS. The number of days allowed for unloading or 

 loading ships, as stipulated between their owners and the char- 

 terers or freighters. 



LAZZARETTO. An establishment in which quarantine is per- 

 formed, and in which the goods landed from ships in quarantine 

 are fumigated previous to their introduction to the markets. 



LEASE or TACK. A conveyance for a term of years (which 

 term is always less than that which the lessor holds for) of 

 houses, land, or any other description, of property. The person 

 granting the lease is termed a Lessor, and the person to whom 

 it is granted a Leaseholder or Lessee. 



LETTER OF CREDIT. A letter from a banker or mercantile 

 house, requesting their agent to pay money to a third party 

 the bearer of the letter. 



LETTER OF LICENCE. An agreement signed by the creditors 

 of an insolvent or embarrassed trader, permitting him to carry 

 on business for a certain time without satisfying their claims. 



LETTER OF MARQUE. Letters granted by a Government to 

 its subjects, authorising them to fit out ships (called privateers) 

 to prey upon the commerce of a rival country. 



LEVARI FACIAS. A writ of execution, commanding a sum of 

 money to be levied upon the effects of a defendant. 



LIABILITIES. The debts and pecuniary responsibilities of any 

 person or company. 



LIEN. A conditional right of claim upon property, such as 

 is voluntarily granted by its owners AS a means of affording 

 security in monetary transactions. 



LIGHTERAGE. Tke amount of freight or hire of a lighter or 

 barge. 



LIMITATIONS. The periods fixed by law for the recovery of 

 debts. Those of an ordinary character become void in law after 

 a lapse of six years, unless a written acknowledgment and 

 promise to pay has been made during that period. For bonds, 

 deeds, and judgment debts, twenty years are assigned. 



LIMITED LIABILITY. In Joint-Stock Companies the limi- 

 tation of the liabilities of each member for the debts of the 

 company, to the nominal amount of his shares. 



LIQUIDATION. A course of settlement or winding-up. 

 LLOYD'S. Subscription rooms in the Royal Exchange, where 

 the underwriters (marine insurers) attend for the transaction 

 of their business. 



LLOYD'S BONDS. An acknowledgment of indebtedness by a 

 railway company, originally given to a contractor for a por-tion 

 of the line. They are in excess of the amount of debentures 

 allowed by the Act of Parliament of the company granting 

 them, and derive their name from the originator, who devised 

 them as a plan for giving security to the builder of the line. 

 Having the nature of a mortgage, and being for a portion of 

 the original plant, they were supposed to be a first charge on the 

 property of the company, but their legality has been called 

 into question, and now they cannot be readily negotiated in 

 the money market. 



LOG BOOK. A book containing a minute record of a ship's 

 progress, and every incident occurring to her or on board of her 

 during the voyage. 



MANDATE. A delivery of goods to a person who is to do 

 some act in connection with them entirely without reward. He 

 who delivers the goods is styled the Mandator, and the re- 

 ceiver the Mandatory. 



MANDAMUS. A writ issuing from the Court of Queen's 

 Bench, requiring the performance of certain specified acts. It 

 is a writ of a most extensive remedial nature, and issues in all 

 cases where the plaintiff has a right to have anything done, and 

 has no other legal means of compelling its performance. 



MANIFEST. A statement made out by the master of a vessel 

 previous to leaving port, specifying the whole of the cargo, 

 ports of destination, etc. 



MASTER. The person entrusted with the care and navigation 

 of a merchant ship. 



MAXIMUM. The greatest quantity or part of anything. 

 Plural, Maxima. 



MEASUREMENT GOODS. Merchandise on which freight is 

 paid by measurement instead of weight. A ton consists of 40 

 cubic feet, and the solid contents in measurement of each 

 package is ascertained by taking its length, breadth, and depth. 



MERCHANT. One who trades with foreign countries ; an im- 

 porter and exporter of goods and produce. 



MINIMUM. The least quantity or part of anything. Plural, 

 Minima. 



MONOPOLY. A privileged or other absorption of an entire 

 trade or branch of industry. 



MORTGAGE. A pledge of land or property by deed as 

 security for money lent or owing. The person pledging is the 

 Mortgager ; the one in whose favour the deed is executed the 

 Mortgagee. 



MUSTER. An average sample or collection of samples. 



NEGOTIABLE DOCUMENT. A document which in its transfer 

 from one person to another conveys to the possessor a legal 

 right to the money or property specified. 



NET. That which remains after the deduction of all charges, 

 outlay, or allowances of any description. 



NOTARY (PUBLIC). A specially authorised person who at- 

 tests, copies, or translates certain documents, proves their 

 validity for the purpose of giving them effect abroad, and 

 whose province it is to note, and issue protest against, the non- 

 acceptance or non-payment of bills. 



LESSONS IN ALGEBRA. XXXVI. 



KATIO AND PROPORTION. 



THE design of mathematical investigations is to arrive at the 

 knowledge of particular quantities, by comparing them with 

 other quantities, either equal to, or greater, or less than those 

 which are the objects of inquiry. This end is most commonly 

 attained by means of a series of equations and proportions* 

 When we make use of equations, we determine the quantity 

 sought, by discovering its equality with some other quantity or 

 quantities already known. 



We have frequent occasion, however, to compare the unknown 

 quantity with others which are not equal to it, but either greater 

 or less. 



Unequal quantities may be compared with each other in two 

 ways : 



1. We may inquire how much one of the quantities is greater 

 than the other ; or, 



2. We may inquire how many times one quantity contains 

 the other. 



The relation which is found to exist between the two quantities 

 compared, is called the ratio of the two quantities. 



RATIO is of two kinds, arithmetical and geometrical. It is also 

 sometimes called ratio by subtraction, and ratio by division. 



ARITHMETICAL RATIO is the DIFFERENCE between two 

 quantities or sets of quantities. The quantities themselves are- 

 called the terms of the ratio, that is, the terms between which 

 the ratio exists. Thus 2 is the arithmetical ratio of 5 to 3. 

 This is sometimes expressed by placing two points between the 

 quantities, thus, 5" 3, which is the same as 5-3. Indeed, the 

 term arithmetical ratio, and its notation by points, are almost 

 needless, and are seldom used. For the one is only a substitute 

 for the word difference, and the other for the sign . 



If both the terms of an arithmetical ratio be multiplied or 

 divided by the same quantity, the ratio will, in effect, be multi- 

 plied or divided by that quantity. 



Thus, if a- b =r, 



Then multiply both sides by h (Ax. 3), ha-hb= hr, 



And dividing by Ji (Ax. 4), ' - = -. 



A A ft/ 



If the terms of one arithmetical ratio be added to, or sub- 

 tracted from, the corresponding terms of another, the ratio of 

 their sum or difference will be equal to the sum or difference of 

 the two ratios. 



If a - b ' 



. a i 

 And d - h 



are the two ratios, 



