TERMS USED IN COMMERCE. 



other directions, however, thin country did appropriate to its 



ulorable portion of the currying trade. 



It mad.' iiifiniU'ly gn-iitiT progress by ita aucceaa in manufue- 



world was cleared of rivals, and the inventivoneu 



hritiwh race occupied the opportunity. Tho groat 



Spunis! . 'inpin- was lost in ita rait Transatlantic conquests. 



wus rrippli-d by the bigotry of her princes, who ex- 



'! useful arts of the country, booauao the artisans wore 



suspected of heresy, waa hampered by Colbert's scheme for 



aging manufactures, and was deprived of the carrying 



Seven Years' War. Holland had ceased to be a 



nuuiuftu'tiiring country. 



<>f Watt, Crompton, and Arkwright created a 

 revolution in manufacture, and a monopoly of production for 

 foreign trade. The great Continental war, disastrous as it was 

 to thu British labourer, was a stimulus to the British manu- 

 facturer. a:.'l i-.iisod the condition of the artisan. A nation 

 which produces useful articles in excels of its own wants, and 

 which can satisfy the demand of foreign nations, can, in propor- 

 tion to tho fulness with which that demand is exhibited to it, 

 increase both its population and its wealth. It becomes, so to 

 speak, if it adopts free trade in food, like a huge town, to which 

 the agricultural regions of the earth ore as tho country from 

 which it can draw its supplies. 



To sum up, tho first cause of the progress in wealth which 

 this country has made, is to bo found in the success with which 

 it has developed agriculture. It has thus been able to devote 

 tho largest part of its population to the industries of manufac- 

 ture and commerce. It has not only supplied itself with com- 

 moditics produced in foreign countries, but it has created a vast 

 mercantile marine, by means of which it is the carrier to half 

 the world. Lastly, it has manufactured for the whole world, 

 and has been able, therefore, to make tho world work for ita 

 subsistence, in exchange for tho conveniences which it has 

 supplied. 



In my next lesson I shall treat of wages. 



TERMS USED IN COMMERCE. X. 



SCIRE FACIAS. A writ most commonly issued to call a 

 person to show cause to tho Court issuing it why the execution 

 of judgment previously passed against him should not be made 

 out. 



SCRIP CERTIFICATE. A certificate given in receipt for money 

 paid for shares in public companies preliminary to the regis- 

 tration of subscribers ; or of instalments paid towards public 

 loans previous to the issue of tho bonds. 



SCRIVENER. A negotiator of monetary transactions, acting 

 as a middle-man between borrower and lender. Also one who 

 is employed to draw up and engross deeds, conveyances, and 

 securities for money. 



SEARCH WARRANT. -A warrant granted by a magistrate, 

 directing any given premises to bo searched generally for stolen 

 goods. 



SEAWORTHY. A term indicating that a vessel is in a proper 

 state of repair, and in every way fitted for her contemplated 

 voyage. 



SECURITIES. Documents representing or securing a right to 

 money or property of any kind, such as bills of exchange, war- 

 rants, deeds, bills of lading, policies of insurance, leases, and 

 bonds. 



SEISIN. The ownership and possession of freehold property. 



SEQUESTRATION. The course by which the estates of in- 

 solvent traders and others in Scotland are realised and divided 

 amongst their creditors. Equivalent to tho term Bankruptcy. 



SET-OFF. A counter claim by the person on whom a demand 

 13 made ; the sum due by one operating as payment or port pay- 

 ment of the sum due by tho other. 



SETTLEMENT. Tho adjustment of an account or claim. 

 Generally applied to tho payment of accounts in full of all 

 demands. 



SHARE SHARES. Tho proportion of interest in any under- 

 taking or company. 



SHIPMENT. A quantity of merchandise sent by a vessel to 

 either a foreign port, or one in tho same country. 



SHIP'S PAPERS generally consist of tho certificate of regis- 

 tration, manifest, muster-roll of crew, and log-book, with some- 

 times a charter-party and bill of health. 



SHORT EXCHANGE. Bill- of exchange drawn for abort pay. 



ment, at night, or t .ftcr Might. 



Sic. A Latin word nigmfyi. >,r "after this faahion." 



SIGHT. Presentment of those bill* of exchange whose doe 

 dates are determined by the period at which they are firtt Men, 

 or lighted, by tho peraona on whom they are drawn. 



SINE DIE. Signifying " without fixing any day for in nttam 

 bling;" thus, "to adjourn fine die." 



SINKINO FUND. An accumulative fund set apart for the 

 extinguishment of a debt. 



(ING OB DORMANT PARTNER. A partner who does not 

 assist in the management of a business, bnt who receives a 

 share of the profits, and it also liable for a share of the loon. 



SOLVENCY. The state of being able to pay all debt* in fall. 

 The adjective description of this state is Solvent. 



SPECIE. Coined money of any description. 



SPECIFICATION. Tho distinct expression of the items or 

 details of a matter. 



SPECULATION. An incurring of heavy risks with the Ttew 

 of obtaining a more than usnal profit. 



STANDARD. A fixed or determined point by which certain 

 things are adjusted, as a standard of value, quantity, or quality. 



STAPLE. Tho chief article or articles of a country's pro- 

 duction and commerce. 



STATISTICS. A collection of facts relating to the condition 

 and progress of the whole or part of a state or its commerce. 



STATUS. Used commercially to imply a man's position and 

 condition with regard to money matters. 



STERLING. The denomination given to English money. 



STOCK. Accumulated goods or money. By dealers, goods in . 

 possession are spoken of as stock on hand. By commercial 

 men and bankers, their amounts of capital are called stock. 

 The term also applies to any of the various capital debts of 

 different countries, which are termed collectively Stocks. 



STOCK BROKER. See Brokers. 



STOCK EXCHANGE. A building where stock brokers and 

 jobbers meet to transact their business. The members of the 

 London Stock Exchange number about 900. 



STOCK-JOBBER. A member of tho Stock Exchange, and 

 dealer in stocks and shares, carrying on operations with other 

 dealers and with tho public through the medium of the stock 

 brokers. 



STOPPAGE IN TRANSITU. The right of a seller of goods to 

 recover them while in course of transmission to the buyer or his 

 agents, if, since their purchase, the buyer has become bankrupt 

 or insolvent. 



STRANDING. The running of a ship on shore or on the rocks, 

 and leaving it stationary there for any length of time. 



SUBPOENA. A writ calling upon a person to appear at the 

 day and place named in tho writ, under a penalty. 



SUPERCARGO. See Cargo. 



SUSPENSION OF PAYMENTS. A trader ceasing to pay any 

 of his debts on becoming aware of his inability duly to discharge 

 the whole. 



TACK. See Lease. 



TARE is a deduction for the weight of a package in which 

 goods are secured. It is of three kinds actual, average, and 

 estimated. Actual tare is where each package is weighed sepa- 

 rately from its contents ; average tare is where the packages 

 are numerous, and of a similar size and character, and a few are 

 weighed so as to form an average for the whole ; and estimated 

 tare is where packages in particular branches of commerce are so 

 invariably alike as to warrant a fixed per-centage allowance for 

 them. 



TARIFF. A table of charges. Also an enumeration of articles 

 on which duty is levied, with tho various rates charged, as well 

 as the articles that are prohibited or exempt. 



TENDER. An offer in writing to supply certain goods, money, 

 ships, or'articles that may be required upon specified terms and 

 conditions. Also a preaontiuunt or offer of money in satisfaction 

 of a debt or claim. 



TONNAGE. A ship's carrying capacity. Registered tonnage 

 and actual capacity sometimes differ considerably, owing to the 

 peculiar build of certain vessels. 



TONTINE. The system of raising money by granting life 

 annuities to a number of persons with benefit of survivorship 

 as tho lives fall in, until at hist a single survivor becomes entitled 

 to the whole. 



