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our inconvenient error , which is now , however , happily passing away . Subsequently it was designated a ¦ ystena ; and so a particular Company was said to be " conducted on the Cost Book system . " But within the Ia 3 t yeai or so our subject lias received the appellation of the Cost Booh principle , which , last word , although not , perhaps , ruore etymologically correct than the word " system , " yet has the advantage of being the word adopted by the statute 7 and 8 Viet ., c . 110 , s . 63 , and 12 and 13 Viet ., c . 108 , a . 1 , and , accordingly , also by the judges both at law and equity , and particularly by Wood in the late case of Arundell v . Atwelh E . T . 1853 .
of the act 15 and 16 Viefc ., cap . 31 ; recounted in Tidd Pratt ' 8 book , pp . 106 to 110 , and paged 111 and 113 . ( To be continued . )
Many attempts have , at various times , been made to define the Cost Book principle Act , mostly wittout success . The causes of failure , beside those consequent on the difficulty , —nay , impossibility of defining that which is but imperfectly under-stood , being traceable to an ignorance of the admitted characteristics of the principle , or the introduction into tbe definition of mere quantities , properties or accidents . The best consideration of the writer as to the logical definition of the Cost Book principle isy " Thost the Cost Booh principle is a partnership , the conditions of which are contained in a Cost Booh . "
TLe above definition , though a strictly logical one , does not however convey a section of its subject sufficiently specific for practical purposes ^ It is necessary , therefore , to give a description of it which is , " That the Co . st Book principle is a voluntary commercial usage in the nature of an ordinary common-law partnership applicable to the working of mines by an association of adventurers . " Its five essential characteristics being : — 1 st . That the management of the mine is under the immediate control and direction of the whole body of adventurers or their specially appointed deputy .
2 iidly . That the powers and obligations of each adventurer are exactly commensurate with the quantum of hia interest in the association which is vot « d by majority , or , in the words of Pryce , that the determinations of the adventurers which are settled not by voices , but shares , are conclusive for the whole body . 3 rdly . That all the transactions of the association be for cash , except where a necessity , arising from circumstances or usage , otherwise requires . 4 thly . That the accounts of the association be paid , calls made , and dividends declared at stort intervals , usually bi-monthly .
ochly , and lastly . That a perfect register of the adventurers be [ kept in a way that the fact who are adventurers may not only be known by that register , but maybe proved by the handwriting of the adventurer , or by document , in the possession of the association ( T . Tapping ) . * III . Loan Societies may bo formed under the act 3 and 4 Viet ., c . 110 , for making loans to the industrial classes which ai'e repaid by instalments . It is requisite that the rules should be certified and enrolled by the barrister appointed to certify the rules of savings banks . The property of the society to be vested i n trustees , and debentures may be issued for the sums deposited , without liability to stamp duty ; and the trustees are not personally liable for signing the debentures unless specially undertaken . Sums deposited with , loan societies not exceeding £ 50 , are payable by
the society within twelve calendar months without probate to the representatives of any deceased debenture holder , and the treasurer is required to give security . The Society not to lend to any person , at the same time , more than . £ 15 , and no second loan to be mad e until the first is paid off . No note or security is liable to stamp , but the securities are not "transferable by endorsement or otherwise . Iioans ore recoverable by th « clerk or treasurer of the society in the county court . A fee of Is . 6 d . may be received , on the society proceeding to make inquiries oa to the T&horacter of an . applicant for loan , and as to his sureties . Discount , at the rate of 12 per cent , per annum , may be deducted on all advances , and tho principal sum must be paid comfoi'mably to the rules . Clerks and others overobarging are liable to penalties of uBury . Instfthnentajnust not be paid in advance , nor can loans be balloted for .
IV , Industrial Provident Partnership Societies nxay be established under the aqfc 15 and 16 Viet ., o . SI ( as amended by 17 Viet ., o . 25 ) , tho preamble of whioh recites the objects which may be earned out under tho Friendly Societies Act , 13 and 14 Viot ., a 115 , and by the 7 th section , it is provided that tho laws relating to Friendly Societies may be applicable to societie s established under the not , except as varied thereby or certified to bo inapplicable ; but that tho 7 and 8 Viet ., chap . 110 ( tho Jointatook . Registration Act ) , shall not extend to societies constituted under this act . Tho following sections of tho act point out the ofcief character lotion of thono nooiotios , the objects to bo effootod , and tho principal privileges and luibilitioB oi tho members : aootionu I , II , III , IV , IX , and XI
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i _ IIT THIS DEPARTMENT , AS JLLI , OPIKJOX-, EOWETES EXLTBBME J ^ OE ALLOWED AX EXPRESSION , THE EDITOIt KECESSABII . Y holds TincsiihF SESP oirsrBi < is for NorfE . l
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There is no learned man bxxt -will confess he hath , much , profited by reading controversies , his senses awakened , and his judgment sharpened . If , then , it be profitable for him to read , why should , it not , at least , be tolerable for his adversary to write?— Milton THE LAWS OF PRO PERT Y AS THEY RELATE TO WOMEN " . ( To the Editor of the Leader . ) Sir , —It were not a difficult thing to compile from the daily papers a series of instances in which women have been defrauded of their earnings , and subjected to various forms of maltreatment ; neither , did the question relate to any class of men whatever , from the younger sons of the nobility to the negro slaves in the United States , "would there be impediments to obtaining a fair hearing from the more educated part of the English nation . In the last seventy years a certain sense of democratic right has pervaded society ; many great battles have been ¦ won , and *
you . have your wild beast , bo oner or later ; but your spirit , white , _ black , or grey , dressed in a windingsheet , radiant like a will-o ' -the-wisp , leads you dancing hither and thither , laughs at your lustiest blows , and , when you think you have him , whisks through the key-hole f Nobody knows this better than the Leader —that sturdy soldier of Positivism , wbieb . keeps u . p a current warfare against every floating mysticism it deems pernicious . We well Tcnow , and humbly admit , that the raug-e of
mystery in our human life ia large—that it must be allowed for on every side ; but this much also must , be insisted , upon , namely , that in open warfare its Iirnit 3 must ba clearly denned , and that , when any subject i 3 brought up as matter for newspaper discussion and legislation , it is incumbent on writers and speakers to clear away , beforehand , this poetical element , and to prove that their topic is one which really does belong to this world ' s open daylight—that it comes under the power of logic , and is able to give and take a fair-handed blow . We take what might be termed the Unitarian view of the female sex—deeming it " Not too bright or good For human nature ' s daily food ;" believing that whatever differences of proportion may exist between the two sexes , there is none of essencethat the famous distinction between the intuitive and tbe reasoning powers is as well exemplified in . the difference Ijetween the poet and the toathematician as in that between the man and the woman ; that since women have bodies to be clothed , and mouths to be fed—and since they , moreover 1 , possess the capacity of learning several languages , and are not utterly impervious to the weightier matters of history and :
pMlosophy—since- ' they feel hunger and cold , pain and pleasure—since they are numerically more than half the population of this country , and since we do literally and figuratively meet them at every turn—giitice , finally , we cannot , it-we would , get rid of thenv either by emigration , or the " pressure of the means of subsistence , " it would be quite as well to accept the hopeless fact of their existence , and to arrange that when they have earned money by the labour of their own hands , or - the sweat of the brow , they shall be treated like any oOher class of her Majesty ' s subjects , and be allowed the simple right of—keepkigrt . I ana , Sir , Yours obediently , B .
remnant by remnant , feudalism is doomed . The arguments which have sufficed to overthrow one fallacy can be brought up again , slightly modified , according to circumstances , asartilleiy in anew siege . Ca + holies are emancipated , pressgangs abolished , representation extended , and all under the graduallygrowing belief in the equality of men before God and Nature . This idea , which is to modern times as the very air we breathe , circulates every where ; it embraces all our literature , from the newspaper article t o the shilling novel ; the most bigoted Conservative dare not gainsay it in plain words ; the Puseyite enforces his own reli gious reading of the same truth in gathering the floek together under " one baptism ;' ' science seems the Slave of the Lamp to the people , creating Crystal PaJaees , Parliamentary trains , photographs , cheap literature , daily papers , costing but a
penny ; multiplying the resources of the million at every turn ; placing the costly luxuries of other days within th « reach of all but ths very poorest . If we wish to build a place of delight and instruction for the masses , behold I the materials lie on every side ready to our hand ; if we wish to- write against some oppression , we have but to fall bac k upon Cobbett and Brougham , to ransack some dead weight of-political economy , to illustrate our argument with copious extracts from Roman history , or the story of the golden days of Periclea ; and then , inch by inch , the siege is surely gained : aye , surely as against a given wall a given cannonade will avail . It ia a " rule of three" sum : as the greatness of the abuse is to the best interests of mankind , so , in proportion to the effecti veness of the statement , will be the length of time required for its afcolition . And the broad sense of mankind in general is the slate on which this pi'oblem is to be worked .
But whenever the interests of women are concerned we have to face a new and rno 3 t formidable elementmysticism . The truth is that women are not regarded as human creatures ; exactly . Some think them inferior ; some of an order of beings above the average of humanity proper ; a third species of man is in his heart afraid of them , as somewhat " uncanny . " Such a writer as Thackeray by no means lessens this confusion of ideas , for his favourite heroines are of the angelic kind , fitted , as ho says , to bless an ~( t ~~ ennoblo " us poor men ; " while his Becky Sharp is a cross between a cat and a devil .
The Cfoths thought women inspired , and treated them as priestesses ; the Mahometans make them tho slaves of physical pleasure ; modem thought hovers between these two extremes , or rather , has compounded a theory of its own , with two faces , reversible at pleasure , and behind either of whioh tho legislator con make a valiant defence against innovation . Sometimes he soys that women aro of a lower and weaker nature , and mwst be taken caro of ; that pecuniary power ia not to be trusted in thoiv hands ; -that they Ml naturally under the protection of men , and must
of necessity abide by the degree of civilisation tho male sex may happen to possess . Somotflnes ho says that thoir sphere is essentially apart from the rough work-a-day fifo—in tho home of tho affection ^ in tho caro of tho young , in tho bringing to bear of a strong moral influence . Mr . Tho-okomy nmkon this to partly consist in tho perusal of -tho Bible all night , ainidnt teara and mutual embraces of ouoh other . To make this view of tho female nn . ture thoroughly conaistont , women ought to bo able to live upon the moral affeotions , to the exclusion of tho moat and drink whioh < loth not Batisfy the soul .
Nothing is so diftloult to grasp and analyse oh any form of mysticism ; it i « easier to catch au < l tamo a tiger than a ghoat . Tako man and guns ouough and
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Dipi . OBO . aao Mission to the River Plate . - —We understand , that it is resolved by France and England to despatch two special commissioners immediately to the River Plate , ¦ with a view to concert measures with Brazil for the prevention in future of occurrences such as have recently again rendered some of the finest portions of tLe east coast of South America a prey to revolutionary licence . —Liverpool Albion . Mr . W . Holman Hunt . —We are glad to hear of the safe return to England , from his Eastern wanderings , of Mr . W . Holman Hunt , better known to the world of art as one of the leaders of the young pre-Raphaelite school , and the painter of " the Liglrt of the World . " Mr . Holman Hunt has , weheav , encountered a variety of strange adventures and perils in the course . of his desultory wanderings in Egypt , Syria , and the . Holy Land , and has enriched his portfolio with sketches of Oriental life often taken at the risk of the artist ' s life .
All these pictures , and sketches are now on . their voyage to England ; and among others a sacred subject , painted act Jerusalem , for this year ' s exhibition ,, of . the Royal Academy , and a sketch from Cairo . Mr . Hunt has more recently visited Constantinople and the field of war in the Crimea . It is impossible not to predict great advantage to the genius of this rising and powerful young artist , from all that he has seen and suffered by land and sen . A subscriber suggests that Dr . Sandwith , the author of the History of the Siege of Kara , should be among the first to be decorated with the Cross of the new Order of Valour . A Handsome Recognition . —Mr . E . T . Smith , lessee of Drury-lane Theatre , has presented Mr . E . T . Blanchat'd , the author of six successful pantomimes , with a meerschaum pipe . itation is in
Australia . —An ag being got up Australia against tho reserve of £ 50 , 000 for ministers of religion . The Dissenters there as well as at home objoot at boiug obliged to support rival aeots . Debtkuotion by Fire of theIStbam Saw-mills at PicoKiiABt . —For several hours yesterday morning , a destructive fire raged in North-street , Commercialroad , Pockhain , on tho promises of Mr . A . ^ Woodball , steam-mills . By the time the engines from Waterlooi oad , Southwark-road , Watling-street , and West of England arrivod , the building with tho machinery was nearly destroyed , and the progress of tho flue was accelerated by « high wind . At about half-pnst five o ' clock , the names were subdued ; but tho engines continued to work on different parts , for some time to prevent them agabi bursting forth . The oivuee in supported to bo overheating of tlxa furnnoo . The prumuos were not insured .
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TWuary o . 1856 . 1 THE LEADER . 235
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• TreailBo on thn Cost Hook , Its principle , and prmctlco : 1 > j Thar ana Ti » pplnif , Kan ., Darrlntor-at-Uw ( 1 H& 3 ) , published lit Uw Mining Journal . No . bt > 6 ,
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Leader (1850-1860), Feb. 9, 1856, page 135, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2127/page/15/
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