1871-] Science of Money. 315 



brought into circuit, when the current of air immediately 

 catches the carrier and hurries it on to its destination. 

 Upon receipt of the signal at the further station for which 

 the message is intended, the person in charge brings the re- 

 ceiver into circuit. This consists of a tube similar to the 

 transmitter, with the exception that it is partially closed at 

 one end so as to catch the carrier as it arrives. Its arrival 

 is ascertained by the click caused by its striking the partially 

 closed end of the receiver, which is then drawn back to ex- 

 tract the carrier, and the open transmitter is at the same 

 time thrown into circuit so as to allow any through messages 

 to pass. As each through message passes a station it causes 

 a small bell to ring, as a signal to the superintendent, and 

 to enable him to count when any message is due for his sta- 

 tion. By this means a continual service of messages may be 

 carried on in any circuit, the amount of business transacted 

 being limited only by the means of the superintendents at 

 each station to keep pace with the arrival and dispatch of 

 messages. 



AN ESSAY TOWARDS ESTABLISHING A 



" SCIENCE OF MONEY." 



By a London Merchant. 



*^^jy HILE engaged with some views on the origin, 

 j^yr nature, and use of money a few years ago, I hap- 

 pened to read Professor Miiller's new work on the 

 Science of Language ; and from certain similarities apparent 

 in the two cases, it then occurred to me, after his example, 

 to entitle my subject the Science of Money. The Professor 

 had satisfactorily established that language was not born of 

 antecedent design, but rather of men's needs and capaci- 

 ties, in contact with external objects and events. As he had 

 felt hesitation at the novelty of his term, much more had I 

 at the unwonted apparition of a Science of Money. I did 

 not therefore venture on the term on that occasion. Seeing, 

 however, that the Science of Language is already a fami- 

 liar phrase to us, I am encouraged to do so now. But I am 

 still content with the introductory form of my title, hoping 

 that on the next occasion with the subject I may at length 

 venture to call it simply the Science of Money. 



" As civilisation advanced," says Professor Price in his 

 late lecture on Money, " an effective contrivance was 



