Victoria, least of the Australian colonies, had until recently the greatest population (June 1897,

Victoria, least of the Australian colonies, had until recently the greatest population (June 1897, 1 177 304) and also the greatest trade. In both relations, however, it is surpassed now by the New Southern Wales. Victoria owed its last advantage to its gold manufacture. Gold was revealed in a colony in 1851, and for many years production of a precious mineral made not less than 50 000 000$ in a year. Existing production of gold in Victoria, however, makes only 10 000 000$ in a year. Richer, however, than gold mines of Victoria abundance of its soil. The soil most part is extremely fertile - with one of the finest soils having fruit in the world. The wood vegetation of the country is magnificent. Trees of thirty foots in diameter raise to height of 200 foots without a unique lateral branch, and then 100 foots to on 200 foots above still. Pear trees grow to height of eight-ten foots, with trunks of three foots in diameter. But for the present wool growth, wheat lifting, and grapevine growth - the basic agricultural employment of people. The basic agricultural export - 25,000,000$ a wool value in a year. But the considerable part of it arrives from the New Southern Wales. Sheep held number 15 000 000, horned livestock 2 000 000. But the colony still remains mainly extracting community. The five ninth population live in cities. Nevertheless there are a few cities, and two fifth whole population, live Melbourn-a in a city of almost precisely such size, as Boston.
[170]
MELBOURN

Within the period approximately fifteen years the continent of Africa was a scene of extensive

Within the period approximately fifteen years the continent of Africa was a scene of extensive division. In the beginning of that period the quantity of the African territory which was subject to the European control, was rather small. British have been fixed in Southern Africa, and had property along coasts in other place mainly in the west. Frenchmen have been fixed in Algeria and in Senegal. Portugueses had their ancient settlements in Mozambique and Lower Guinea. Morocco in the northwest and Abyssinia in the northeast were more or less known governments which were independent. Egypt in the extreme northeast, with the dependent property stretched along Nile in a far interior of continent, was also more or less known government which possessed though it nominally depended on Turkey. But in other place, except in several other places which the European power operates, the whole continent can be described as being in its original state of wildness or semiwildness. No government existed somewhere which was or is salutary or steady. Slavish movement was available in a considerable quantity everywhere.
[158]
THE EUROPEAN SPHERES OF INFLUENCE IN AFRICA

[214]

[215]
FINANCE, TRADE, AND TRANSPORTATION [8]
I
[214]
[215]
FINANCE, TRADE, AND TRANSPORTATION [8]
I. NATIONAL AND THE STATE BANKS
ORIGIN OF BANKING ESTABLISHMENTS
The state bank of England, showing the Street input in the Streamlet.

To the student of a civilisation India - one of the most interesting countries in the world

To the student of a civilisation India - one of the most interesting countries in the world. It always was one of the most fertile and densely populated areas of globe. Within many centuries it as thought, was one of the richest. In a consequence it, again and again, there was a scene of intrusion, a gain, and property capture. But its riches never consisted so in natural treasure as in savings of hardworking and modest people. Since a year 1600 European nations had the direct relation to India, especially England, France, Portugal, and Holland. Within last 140 years, however, England was the dominating power there. Regardless of the fact that can be told concerning an occasion of intervention of England in affairs of India first, it is possible to tell only, that existing influence of England in India is very favourable to the country. Prosperity of India as a whole is comparable now to that from any civilised nation on globe. And people who once, because of a repeated gain and property capture, have lost all sense of honour and self-respect, now, under soft influence of the world, the law, the order, and safety, quickly becoming noble, itself [130] - assured, both initiative, and ambitious to possess all rights and privileges of the modern
Civilisation.
THE SIZE OF INDIA AND THE POPULATION

When bonds are let out to lift and place in one fund all earlier let out mortgages, new bonds

When bonds are let out to lift and place in one fund all earlier let out mortgages, new bonds sometimes name incorporated mortgages. Holders before the let out bonds are not obliged to exchange them for any new securities.

The banker should note accounts for payment the borrower

The banker should note accounts for payment the borrower. Why it gave notes? They are met quickly? Many buildings prefer to sell their own paper in the open market, and to hold their banks opened for arrangements when they are incapable to provide the external credit. Insurance which bear, it is necessary to consider; also volume of the made business. The big business on the moderate capital, with long credits, naturally will have big debts while the small-scale business with the liberal capital and short credits should have small debts.

In the letter and signing of checks use good profit and to allow a copy to dry a little before the

In the letter and signing of checks use good profit and to allow a copy to dry a little before the blotting paper is used.

3

3. Lift papers of the paragraph of a course according to the paragraph and wonder the reason why everyone is presented. Discuss with the friends to advantage or inconvenience of specific requirements.
OUR NATIONAL BANK SYSTEM

The parties to a waybill three - the consignor, грузополучатель, and the

The parties to a waybill three - the consignor, , and the transportation company. The declaration of that has received the goods in a good condition and a condition, and the consecutive obligation subsequently expressed, their deliveries in a similar good condition and a condition, is considerably reduced in its importance according to the additional point now accepted almost by all companies namely, transportations: 'the Maintenance and a condition of the maintenance [62] from packages
The unknown person. 'Owe the goods or their part to be sent in the damaged condition, or in a bad condition of packing, the note to that effect should be made by the transportation company on a waybill which stops then to be the bill with loading amendments.
Local waybill.

While probably today to define average losses from bad debts in various trading specialisations,

While probably today to define average losses from bad debts in various trading specialisations, individual risks cannot be accepted on that basis. Everyone demands special research. If the addressing client paints the financial condition in pinkish colours, allow it, wish to reduce its statement to the letter and when its signature is attached, its statement is much more reliable, because he knows about the hung responsibility of swindle if it has deformed. The men who are not inclined to transformation oral [257] statement to the letter, immediately discredited themselves. Men who wish to be fair, can be optimistic in the image of prospects
And to be inclined to establish imprudent value on their property and business degree. Can be easier to tell the absolute truth about debts, because they - such constantly real things; but actives have elastic qualities in many man"s minds and seem capable to any expansion in an extreme situation. Buyers who make upon itself impression optimum on the business house, are frank in their statements. The obvious, sincere laconic person will deserve consideration. Servility or a pleading kind contribute that adversely. Stephen Girard has told concerning the one who in tears has asked the loan: 'the person, who shouts, when it comes to borrow, will shout, when it will arrive to pay.'

When the country borrows money, it gives a guarantee, that money will be returned during specific

When the country borrows money, it gives a guarantee, that money will be returned during specific time and that interest will be paid in regular intervals on motionless norm. This guarantee name the obligation. In actual practice instead of borrowing demanded money and then giving bonds for its returning, the countries usually let out bonds at first, and sell to their person offering the highest price. For example, if our government should borrow 1 000 000$, it would let out bonds for this quantity, declaring definitely percent which will be paid, and would call for offers. If the percent made four percent. And the buyer has paid more than 1000$ for the obligation for 1000$, it, of course, will make less than four percent. On its investment. Such bonds are absolutely safe and always market because of our strong financial position among the world nations. Similar bonds are let out by the states, cities, cities, school districts, etc. They not in usual sense, and their value consists completely in ability letting out through its tax power to meet the suffered obligations. Municipal bonds are let out by cities and other municipalities to lift money for local improvements.
[264]
BONDS AND CERTIFICATES ON THE STOCK

[7]

The example resulted below displays badly written check and what could be very easily lifted
[7]
The example resulted below displays badly written check and what could be very easily lifted. The roguish receiver could, for example write, 'ninety' before 'six' and '9' before number '6', and thus to lift the check from 6$ to 96$. If it has been made, and the check on money the manufacturer, instead of the bank, would become responsible for loss. You cannot consider other people responsible for your own negligence. The check has been lifted from 100$ to 190$ by the letter of words 'and ninety' after words 'hundred.' One of code numbers in numbers has been changed on '9', adding a tail to it. Wisely to pull a running line, thus ~~~~~~, after quantity in words, thus preventing any additional letter.
Badly delayed check.

Notes and acceptances which are made in settlement of original business transactions, arrive under

Notes and acceptances which are made in settlement of original business transactions, arrive under a head of the regular, lawful official paper. The note of the arrangement or acceptance - what is signed or confirmed or accepted simply as the arrangement instead of in settlement of the account or in debts payment. With banks the arrangement paper has on advantage a difficult reputation. However, there are all grades and shades of a paper of the arrangement though it does not represent the actual business transaction between the parties to it and has not a rest on any other fund than that of the mutual agreement. No contract is good without consideration, but it only is true between the original parties for the note. The third party, either the innocent receiver or the holder of the note, has the good name and can return its value even thus, that it has been originally given without valuable consideration. The innocent holder of the note which has been originally lost or stolen, has a good name on it if it has received it for value, the law, fairly protecting such holder against an error or negligence of others.
[231]
NOTE BROKERS

The national bank system of the United States has been established according to the congress

The national bank system of the United States has been established according to the congress decision in 1863, reconsidered in 1864, and corrected according to later legislation. The big advantage of system as say, - feature of uniformity, the fact, that it brings bank business of the whole United States under one power and at supervision of one company of administrative officials. The department letting out the note is dependent in the public full value on the services given by banks and clearing houses for an exchange by credits. Essential features of national banks are is short formulated as follows:
There is a bureau of the Ministry of Finance having charge of all affairs, the concerning national banks which senior assistant is the dispatcher of currency.
Any number of people, is not less than five, can generate association in the bank purposes, continue no more than twenty years, but within twenty years with approval of the dispatcher.
Powers of bank are limited by discounting of promissory notes, projects, bills, and other certificates of a debt; receiving deposits, dealing in an exchange, a coin, and an ingot, lending money for personal safety, and letting out bank notes in circulation. It cannot keep [218] real estate except what can
Be necessary for the transaction of its business, or what, probably, were are taken as safety for debts, earlier it is diligent.
There can be no national banks somewhere smaller quantity of the capital than 50 000$, and these small are limited to places no more than 6000 inhabitants. In cities it is more than 6000 and less than 50 000 inhabitants cannot be any bank of the capital in size less than 100 000$, and in cities of 50 000 inhabitants or more than any of less than 200 000$. One half of capital needs to pay before the bank can begin business, and the rest should be paid in monthly payments at least ten percent. Everyone.
Shareholders are responsible for bank debts to the quantity equal to face value of their actions in addition to quantity which invest there.
Each bank having the capital which excessive 150 000$ should bring in exchequer of the United States, has registered bringing percent of the bond to quantity not less than 50 000$. What have the capital 150 000 or less $, should bring the bonds equal to one quarter of their fixed capital. Each bank can let out bank notes in circulation for the sum of ninety percent. From market cost of the bonds deposited by it, but not excessive ninety percent. From the same face value, and not excessive ninety percent. From the paid capital of bank; but no bank is compelled to let out bank notes in circulation. No banknotes should be let out smaller than 5$. Notes are comprehensible face value for all dues to the United States except duties on import, and are subject to payment for all debts, former due the United States within the United States except interest on a public debt and in the repayment of currency of the country.
Each bank in the certain defined cities named spare cities, should hold a stock of lawful money equal to twenty five percent. From its deposits. All other banks should hold a similar stock of fifteen percent., but three fifth [219] have told fifteen percent. Can consist of the rests on the contribution to banks
Approved by the dispatcher in spare cities.
Each bank should keep the deposit in exchequer of lawful money of the United States, to equal five percent. From its reference as fund to expiate the same. These are five percent. Can be counted as a part of its lawful stock. It does not release banks from a duty of expiation of their notes in their own counters on demand.
The one tenth net profit needs to bear in superfluous fund while it is not equal to twenty percent. From the capital.
The bank should not give more than one tenth its capital to one person, corporation or firm, expressly or by implication, to give money for safety of its own actions, to be the buyer or the holder of its own actions if is not taken as safety for a debt, earlier is diligent, and time so taken they should be sold within six months under the penalty of to be placed in liquidation.
Each bank should do to the dispatcher not less than five messages every year, showing its condition from time to time to be defined by it, and he can call for special messages from any specific bank every time when he wishes to do so.
Each bank should pay to the treasurer of the United States the tax equal to one percent. In a year on the average quantity of its notes in circulation. Actions are inclined to the taxation States in which they are located on the same norm as other monetary capital belonging to citizens of such states.
Any benefit which is growing out of lost and destroyed notes, operates to benefit of the United States.
The dispatcher has absolute appointment of all receivers and establishes their indemnification. All sums of money realised from actives, are paid in exchequer to the credit of the dispatcher, and all dividends are paid them.
[220]
The supercertificate on checks is strictly forbidden, giving to officials or the clerks inclined to the conclusion.
National directors of bank according to the law are individually responsible for full quantity of the losses following from infringements of national legislations on banks.
THE STATE BANKS

By the goods its value estimated in money, or the sum of money for which it will exchange intends

By the goods its value estimated in money, or the sum of money for which it will exchange intends. Replaceable value of consumer goods depends in any given period partially on the expense of manufacture and partially on the supply and demand relation. The prices are mentioned by creation of monopolies, opening of the new markets, difficulty of usual channels of commercial relations, and expectation of these and other reasons. It is business of the dealer to acquaint itself with each circumstance mentioning the prices of the goods in which it deals.

Japan consists of group of the islands located on the east of continent of Asia, a little as

Japan consists of group of the islands located on the east of continent of Asia, a little as British isles are located on the West of continent of Europe. But islands of Japan have a volcanic origin and are very numerous. There, as speak, 4223 from them. However, there are only four which have the important size, and it - they of which usually think when about Japan speak. The area of these four islands makes 147 655 miles which is almost one quarter more than that from the Great Britain and Ireland. The population (census 1895) 42 270 620 which is 4 000 000 more than that from the Great Britain and Ireland. The population in square mile 286, which though big, is not absolutely so big as that from the Great Britain. If, however, we do not consider northern island (Yezo) which is still partially occupied by not civilised natives, the population in square mile 375 which is considerably moreover from China and the Great Britain and Ireland though it is still considerable less than that from one only England. Aforementioned statistical data do not include island of Formosa (area of 13 500 miles, the population almost 2 000 000) which has been transferred from [149] China to Japan in 1895, in end of last Paper -
The Japanese war.
REMARKABLE TRANSFORMATION OF JAPAN

In municipal corporations participants - citizens; number vaguely; everyone stops to be the

In municipal corporations participants - citizens; number vaguely; everyone stops to be the participant when it moves from a city or a city while each new inhabitant becomes the participant when according to the law it becomes the allocated right to privileges of local citizenship.

In minerals Russia is extremely rich, but the extracting earths do not extend everywhere on empire,

In minerals Russia is extremely rich, but the extracting earths do not extend everywhere on empire, but limited to certain areas. And thus they, as can speak, vigorously are not worked. The big gold mines of the Ural mountains would not pay, expenses as is worked now were them not supplied with work of the criminal. Owing to the heavy customs duties on the imported goods which is imposed on pig-iron in almost, all iron now necessary for iron for empire, is received at home, but it makes only 46 pounds on the inhabitant, in comparison with 810 pounds on the inhabitant, used in the Great Britain. Coal very much is a lot of, especially valley Donetz, but fire wood is so numerous in the internal purposes, and hydraulic power, so numerous for heavy , that the quantity of the coal extracted in all Russia, is only one twelfth which has extracted in Germany, and only one twenty fourth which has extracted in the Great Britain. More than 2 250 000 tons of coal are imported despite very heavy patronising duties. There is one mineral product, however, in which Russia surpasses all other European countries. It is oil. Oil fountains on Caspian sea make an annual crop of crude oil of average value 15 000 000$. Value of oil and the mineral oil exported in 1896, made more than 22 000 000$.
TRADE OF RUSSIA AND MANUFACTURING

Textile manufacturing of the Great Britain are in aggregate at first in importance, but

Textile manufacturing of the Great Britain are in aggregate at first in importance, but manufacturing of hardware arrive close second. The total sum of products of hardware of the Great Britain makes approximately 750 000 000$, or one quarter of a full product of the world, and it, approximately one third is exported. Even it is more than its textile fabrics, manufacturing of hardware of the Great Britain are connected with its coal fields. The most distinctive 'the centre of hardware' that what is identified with the big coal field in the middle of England known as 'the Black country.' Birmingham (506 000), the main place in this centre, is unsurpassed in the world for multifigurativeness and its degree metal . Literally truly, that all with 'needles on an anchor' is made within its limits. But though its industries include mainly that of iron and a steel, it in gold, silver, copper, zinc, leadership, and aluminium also is very important. Birmingham, also, is unsurpassed in the world in the art statement to metal work. Its manufacturing of jewelry, both gold and silver ornaments, are huge. Its manufacturing of the small equipment also is huge. For example, it appears 15 000 000 handles weekly. Its manufacturing of buttons faces from hundreds thousand millions. Wolverhampton (88 000), also in the Black country, is noted for its manufacturing of heavy hardware and cars. So also in Oldham, in Lankashirsky area. So also in Leeds, around West Yorkshire. Sheffield (352 000), also in , is historically identified with its well-known manufacturing of a tableware, the industry which at first has begun there because of quality and [93] abundance of the found millstones
Nearby. With coal layers of Durham and Cumberland the big shipbuilding and building industries of the locomotive of Newcastle (218 000), Sunderland (142 000), and Darlington, on the northeast party of England, and big steel (the greatest in kingdom) and ship-building industries Barrow-on-Furness, on the northwest party are identified. With coal fields of the Southern Wales (noted for it coal) industries of fusion of Swansea (70 000) are identified. Copper ores especially, but also and silver, zinc, and leadership, are brought from all continents to Swansea to be smelted. These Southern coal fields of the Wales also make the fact, that in respect for the tonnage sum Cardiff (160 000) is one of the main ports for export to the world, taking a place in this respect then after New York. Export of coal from Cardiff - now 12 000 000 tons annually.
[94]
II. TRADING FEATURES OF FRANCE
FRANCE RICHLY EXCLUSIVE COUNTRY

The paper offered for the discount, has set of kinds

The paper offered for the discount, has set of kinds. The big proportion of it from clients of the borrower who have expanded their credit, paying in their account in notes instead of in cash. Such paper really though having two names, it is little bit better than [51] paper of the unique name as it not the manufacturer
The credit, but the addressee of payment who usually considers bank. Many very small notes offered for the discount usually, specify very requiring condition.