XLVIII ADMINISTBATIVE REPORT [eth, ann. 20 



constant. This surplus he lends at interest; he also lends 

 his own money; his profits therefore come from the lending 

 of money — either his own or the money deposited. The 

 banker lends money to the public, but he is especially a 

 lender of money to his depositors; thus, a merchant may 

 deposit money by giving his note bearing interest, against 

 wliieli he draws by cheek. 



Advertising. This leads us to the fifth element of commerce, 

 which is advertising. In advertising, that which was first con- 

 sidered as goods, then as freight, then as connnodity, then as 

 value, is now considered as want. The merchant's lousiness is 

 to supply want, and it becomes necessarv for him to inform 

 the public of the goods which he offers for their supply. The 

 method of giving this information to the people is advertising. 

 The })rlmal method of advertising is by the display of the 

 goods themselves by the merchant or his assistants; no small 

 proportion of the time of salesmen is occupied in displaying 

 goods to purchasers. The second method of advertising is 

 by the display of goods in conspicuous places, especially in 

 show windows; this method of advertising has nowbecome well- 

 niii'li universal. Show cases and window cases are arranged 

 with deft hands in order to make goods attractive. The third 

 method of advertising is with post bills, which are placed in 

 conspicuous positions, on the walls of buildings, on fences, and 

 by the wayside, or are worn on the l)acks of men. The fourth 

 method of advei'tising is by the distribution, through carriers or 

 by the mails, of handbills wliicli are designed to infoi-m the 

 public of the character and prices of the goods offered for sale. 

 The fifth method of advertising is the insertion of such business 

 announcements in books and periodicals. Much of the adver- 

 tising is now al^sorbed by the periodicals; the daily, weekly, 

 monthly, and quarterly journals are to a large extent supported 

 by advertisers who display in type the goods offered for sale, 

 but the journals themselves are introduced to the public 1)}' 

 the publication of news and the discussion of current topics, all 

 of which are desired by the people. 



