TRANSACTIONS OF THE SECTIONS. 217 



At tiie p.'e3eiit time thsi-a were in Guiana women in the proportion of 42-21 to 

 every 100 miles, showing that the equalizing influence of the rising generation 

 was "biginniug to tell. After instituting an interesting comparison of the relative 

 working qualities of the Coolies and Negroes, he eoncluiied by saying that lie was 

 inclined, though not without hesitation, to stake his credit as an observer iipou the 

 ultimate predominance there of the Negro, with a reservation, however, in favour 

 of the Chinamau, if the Cbinese immigration were resumed. 



ECONOMIC SCIENCE AND STATISTICS. 



Address hij Prof. H. Fawcext, M.P., President of the Section. 



The President opened the proceedings of this Section, and after a few introductory 

 remarks, said : — Every one has been saying that we have been for some time past, 

 and that we are at the present moment, enjoying unprecedented prosperity in this 

 country. If the well-b iing of a nation could be solely estimated by the amount of 

 wealth which is produced at home, and by the quantity of commodities which are 

 imported from abroad, it julght be concluded that England was rapidly arriving 

 at a state of perfection, and that all her people were in process of securing an ample 

 supply of the necessaries and comforts of life. Let us for a moment, then, ask 

 whether such a result is likely to be realized by the prosperity which at present 

 prevails. People are beginning to remark that prices are rapidly rising ; and it 

 seems to be discovered that the more prosperous the nation is said to be, the more 

 certainly does an aiivance take place in the price of many of the fii-st necessaries 

 of life. If we are told that never before was so much wealth produced, that never 

 before were the wages of so many classes of labourers so high, it may be with 

 truth rejoined that never before were many articles of daily consumption so dear. 

 There has been also a general rise in house-rent. It is at once obvious that unless 

 the increased wealth which is produced is generally diffused throughout the nation, 

 it will of course follow that in consequence of the rise of prices some people may find 

 themselves not more prosperous, but worse oft" than they were before. There are a 

 great many people whose incomes are either fixed in pecuniary amount or are regu- 

 lated by customs which, if not unchangeable, require many years to be modified. 

 Nothino- is more common than, when a man dies, to leave his widow or his daughters 

 a fi.xed income. Sometimes the income is derived from propert}' which trustees 

 are ordered to invest in some security such as the funds, in which the rate of interest 

 is fixed ; sometimes the income is a fixed pecuniary charge upon some property or 

 business. Then, again, there is a numerous class, such as half-pay ofiicers and super- 

 annuated clerks, whose incomes are also fixed. There are also others, such as clergy- 

 men, clerks, and others, in the receipt of salaries, whose incomes may ultimately 

 advance if there is a general rise in prices ; but after the rise has taken place, a con- 

 siderable time will elapse before the advance is secured. It must also be borne 

 in mind that although there maybe a great increase in trade, yet the iiicrease may 

 not affect every business ; and therefore in those branches of industry which remain 

 imchanged, employers and employed may for a considerable time be unable to secure 

 anv increase in their remuneration at all commensurate with the augmentation in the 

 cost of living. The operative and the miner have secured an advance of 20 or 30 

 or 40 per cent, in their wages ; but it does not invariably follow that these advancing 

 profits and this increase in "wages should be at once accompanied by a corresponding 

 advance in profits and wages in other industries and in other localities. If there is 

 a great increase in the production of wealth, accompanied by a rise in the price of 

 many of the necessaries of life, it does not follow that all are at once benefited ; 

 but, on the contrary, many temporarily suffer severely. 'VMien trade rapidly 

 increases, it may happen, as it does at the present time, that there is a transfer of 

 wealth, that some people are getting poorer as others are getting richer. In the 

 congratulations which we indulge about national prosperity, let us not forget those 



