256 
JOURNAL OF THE PLYMOUTH INSTITUTION. 
THE IEISH BAEDS. 
SYLLABUS OF PAPER BY MR. W. POWER. 
(Read February 12th, 1880.) 
The Irish bards, ancient. Their position in the state. The dis- 
tinguishing colours of their dress. The decline of the bards. 
Eevival of Bardic poetry and music. The modern bards. 
EXCHANGE. 
ABSTRACT OF PAPER BY MR. A. P. PROWSE. 
(Read February 19th, 1880.) 
The need of some medium of exchange is soon felt by the most 
uncivilized savage, and the demand for it is a sign that he is 
emerging from a state of barbarism to one of progress. No better 
evidence could be given of the superior physical and intellectual 
capacities with which man is endowed. No sooner is this medium 
obtained than it is seen to influence, in a very marked degree, his 
intercourse with his fellows — general and commercial relations 
gradually spring up, and continue to increase. After considering 
that a medium must serve as a means of effecting a valuation of 
commodities, and by its own intrinsic value afford a guarantee of 
the proper value of other commodities, and also may be exchanged 
for them, it was shown that nothing could fulfil the necessary 
conditions required so simply and firmly as the substances known 
as the precious metals. The nature of gold and silver were then 
described ; and whilst it was admitted that gold was the most 
perfect and absolutely superior to all other metals for this purpose, 
yet silver was also indispensable to a proper circulating medium. 
The ever fluctuating influences which affect commercial exchanges 
