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Ordinary Meeting, February 9th, 1869. 
Edward Schunck, Ph.D., F.R.S., &c., Vice-President, 
in the Chair. 
Mr. Walter Whitehead, M.R.C.S., was elected an Ordinary 
Member of the Society. 
“ Remarks on the term Commerce , and on the Sources of 
Wealth/’ by J. C. Dyer, Esq., V.P. 
It may be useful to offer a few words on the common 
acceptation of the term Commerce , as taken to signify in 
itself a source of wealth, but which, if rightly interpreted, 
will be found to convey no such meaning ; because we find 
that all transactions of a commercial or trading nature are 
distinct from the creation or origination of material wealth 
of any sort, notwithstanding which it is continually asserted 
as an admitted fact, that the vast accumulations of wealth 
in these Islands, is due to the enormous expansions of our 
National “ Trade and Commerce.” Now what are the opera- 
tions of the merchants and traders, except those concerned 
in aiding and carrying into effect the transfers of the com- 
modities dealt in from one ownership to another, or from 
one place to another ? But these transits create nothing de 
novo. They may, and generally do, add to their market 
value, which becomes wealth to the owner, or new owner 
of them ; but this merely proves the excessive production of 
the goods in one place beyond the local consumption to such 
extent as to oblige the producer to pay for their transit to 
the place of their scarcity, and to obtain from thence some 
Proceedings — Lit. & Phil. Society.— Vol. Till — No, 10. — Session, 1868-9, 
