TEANSACTIONS OF SECTION F. 767 



portion of bis fruition under tlie State guarantee, B also in the proportion of his 

 and 0, the postponed or defen-ed enjoyer, contributes his quota, when the stage of 

 enjoyment is reached. 



4. The Suitability of Small Towns for Factory Industries. 

 By Russell R. Tanner. 



The limitations of the paper. 



I. The jEmployer's Position. — Among the disadvantages are: Inability to 

 suddenly increase the staff and so meet unexpected or urgent requirements. 

 Distance prevents so close a watch on the pulse of the market. The cost of 

 carriage a constant drain on profits. There is a tendency to get behind the times 

 and miss opportunities and improvements. To correct this, constant watch- 

 fulness needed. Among the advantages are: The considerable value of a man's 

 personal integrity as a negotiable article. Low rents and wages and the conse- 

 quent reduction in the cost of production and warehousing. Less temptation to 

 speculute on rising or falling prices and consequent freedom from anxiety and 

 worry. The deviations in prices smaller, and the mental strain attending both 

 rises and falls in prices less marked. Greater influence over employes. A more 

 serious thing to lose a situation from bad conduct in a small town. Better 

 discipline can be maintained, and consequently more work done. 



_ II. The Employe's Position. — The so-called disadvantage of lower wawes a 

 chimera. Real wages compared with nominal wages. Allotments, decrease of 

 illness. Longer working capacity taken into account. Other advantages are : 

 Working rooms more healthy. House rents low, so that everyone can aiford 

 a house. Temptations less powerful. Less liability to loss of situation, hands 

 being bard to replace, short hours are worked by preference. 



III. Advantayes Common to ^;^.— Improved health, consequent increase in 

 earning power. Classes less sharply divided ; great benefits result from this. The 

 standard of living lower. The constant travelling avoided. Recreations' more 

 rational. Life carried on at a lower pressure. Increase of neighbourly feeling. 

 Example more potent for good, less potent for evil. Increased self-respect] 

 Conclusion. 



MONDAY, SEPTEMBER 10. 

 The following Reports and Papers were read : — 



1. Second Report of the Committee on the method of ascertaining and 



measuring Variations in the Value of the Monetary Standard. See 



Reports, p. 181. 



2. Index Niimlers as illustrating the Progressive Exports of British Pro- 



duce and Manufactures. By Stephen Bourne, F.S.S. See Reports 



p. 536. ■ 1 » 



3. Report of the Committee on the Statistical Data available for determining 



the amount of the Precious Metals in use as Money in the Principal 

 Countries, the chief forms in which the Money is employed, and the 

 amount annually used in the Arts. — See Reports, p. 219. 



4. An Examination into the Reasons of the Price of Wheat Rising or Falling 



contemporaneously with the Variation in the Value of Foreign Cur- 

 rencies. By W. J. Harris, F.S.S. 



This paper commences with a preamble demonstrating the effect on prices and 

 production in a hypothetical ca^e of a new country being discovered with iron as its 



