England, and that such consumption pro- a portion of the spender's money, part of duces a correspondent exportation of which portion is the profit of the supplier. English goods to the foreigner.. The If this income is spent in France or in absentee is enabled to receive his rent Belgium, persons in France or in Belabroad because a foreign trade already gium derive a profit from supplying the exists; and it is not necessary, in order absentee, and this profit enables them to that he shall be able to receive his rent in accumulate. What is thus spent in France money abroad, that a trade should exist or in Belgium produces a profit to a between his native country and the coun- Frenchman or a Belgian, and enables try of his residence. There must be a him to accumulate, and this profit is foreign trade somewhere, in order that he something taken from the profits of those may receive his rent abroad in money, who would supply the demands of the but a man may live in a part of Europe consumer in England. If all the persons which has no trade with Great Britain, who come to settle in London, and reand he will receive his money by an quire commodious houses, servants, fruits, indirect route, and by means of the trade vegetables, and so forth, were to settle at of England with some other foreign Brussels, the houses which are now built country. But it does not follow that the in London, and the grounds which are foreign trade of Great Britain is increased employed as kitchen-gardens round the by the consumption of an absentee abroad metropolis, would not exist, and the profit so as to produce an exportation of English derived from this employment of capital goods to the amount of his foreign con- would not exist. It would be transferred sumption. And if we admit that the to Brussels and to Belgian capitalists. absentee's consumption of foreign goods This would be the immediate effect of abroad produces all the effect that has the wealthy residents in London removbeen attributed to it, this will not remove ing to Brussels. The removal of these the whole difficulty. Many of the things residents to Brussels would be the withwhich he consumes abroad are not the drawal of one of the means of profitably peculiar products of the foreign country employing capital, and would so far be which he would or might consume, whe- a loss to the national wealth. Nor can ther he was in England or a foreign it be shown that the capital which is country. He consumes and uses many now employed in and about London in things abroad which he would consume building houses and cultivating gardenor use in England, and which must be ground could be employed with equal furnished by the country in which he is profit in some other way; for to assert residing.

this would be equivalent to asserting Accumulation, or the increase of wealth that it is always possible to employ in a country, can only arise from savings capital under all circumstances in a or from profits. All persons who supply manner equally profitable. It may be the demands of others obtain a profit by rejoined, that if the wealthy residents the transaction ; at least the obtaining of of London removed to Brussels, English a profit is the object with which a demand capital would be required in order to is supplied, and the actual obtaining of a accommodate them with houses, and to profit is the condition without which a provide other ordinary necessaries. This demand cannot be permanently supplied. may be admitted, and yet it does not All persons who have an income to spend remove all the difficulty, for if the resi may in one sense consume it unproduc- dents were to remove to various towns tively, as it is termed, that is, the income of Italy, the employment of English may be spent merely for the purpose of capital would not be required to the same enjoyment, and not for the purpose of degree as if they were all to remove to profitable production. But no income Brussels. which is received in money can be spent There are also numerous small sources without indirectly causing profitable pro- of profit arising from the supply of the duction, for every person who supplies the ordinary wants of a man and his family, wants of the spender of the income receives which accrue to the people of the place in which a man fixes his residence: these | LL.B., in which the subject of absenare the ordinary retail profits of trade. teeism is discussed, though from a sompThis is obvious in the case of a number what different point of view. Mr. Lawson of families quitting a provincial town to does not agree with those economists who reside in London : the provincial town think that a country can sustain no injury decays, and that source of profit which is from the residence abroad of landlords derived from supplying the wants of the and other proprietors of revenue.

He is families is transferred to the tradesmen of opinion that, so far at least as Ireland of their new place of residence. This, is concerned, absenteeism is an economical which is true as to one place in England evil. His views on the effects of absencompared with another, is equally true as teeism are contained in Lecture V., pp. to England compared with Belgium or 122-131. France. If we take into account merely ACADEMY. (UNIVERSITY.] the amount of wages which a large body ACADEMIES. [SOCIETIES.] of absentees must pay to their domestic ACCEPTANCE. (BILL OF Exservants, this will form a very consider- CHANGE.] able sum. The savings of domestic ser- ACCEPTOR. (BILL OF EXCHANGE.] vants in England from their wages are ACCOUNTANT-GENERAL, an offiinvested in various ways; and such cer of the Court of Chancery, first apsavings are no small part of the whole pointed under an act (12 Geo. I. c. 32) amount of the deposits in Savings' Banks. " for securing the moneys and effects of It will hardly he maintained that all the suitors." The act recites that ill those who would be employed as domestic consequence and great prejudice already servants in London, if the absentees in had and might again ensue to the suitors France vere to come to live in London, by having their moneys left in the sole are employed with equal profit to them- | power of the Masters of the Court. The selves while the absentees are abroad. bonds, tallies, orders and effects of suitors London is supplied with domestic ser- were, it appears, until the passing of vants from the country, many of whom this act, locked up in several chests in would be living at home and doing no- the Bank of England, under the directhing, if there were no demand for their tion of the Masters and two of the Six services in London; and everything that Clerks. The act confirms a previous diminishes such demand, diminishes the order of the Court of Chancery for adoptsavings of a class whose accumulated ing a different system; and § 3 enacts earnings form a part of the productive that “to the end the account between the capital of Great Britain.

suitors of the High Court of Chancery Those, then, who maintain that ab- and the Bank of England may be the senteeism has no effect on the wealth of more regularly and plainly kept, and the the country from which the absentee de state of such account may be at all times rives his income, maintain a proposition seen and known," there shall be “one which is untrue. Those who maintain person appointed by the High Court of that the amount which a man spends in a Chancery to act, perform and do all such foreign country is so much clear loss to matters and things relating to the dethe country of the absentee, are also mis- livering of the suitors' money and effects taken. There are many ways in which into the Bank, and taking them out of the loss is indirectly made up; but what the Bank, &c., which was formerly done ever may be its amount, it would be by the Masters and Usher of the Court." unwise to check absenteeism by any The Accountant-General is “not to meddirect means, and it is not easy to see dle with the suitors' money, but only to how it can be checked indirectly in any keep an account with the Bank.” No way that will produce good.

one has yet been appointed to the office Since writing this we have seen · Five without first becoming a Master in ChanLectures on Political Economy.' delivered cery. The present Accountant-General, before the University of Dublin, in Mi- who was appointed in April, 1839, is the chaelmas Terın, 1843, by J. A. Lawson, I thirteenth who has filled the situation since the first appointment in 1726. The salary | accumulate the income thereof, either is 9001. a year, and 6001. a year as Master's wholly or partially, “ for any longer term salary, with some other emoluments. than the life or lives of any such grantor

The total sum standing in the name of or grantors, settlor or settlors, or the the Accountant-General on the 30th of term of twenty-one years from the death April, 1841, was 40,957,8391., of which of any such grantor, settlor, devisor, or above 39,000,0001. was invested in stock, testator, or during the minority or reand 1,759,6291. was in cash. (App. to Re- spective minorities of any person or perport on Courts of Law and Equity, No. sons who shall be living or in ventre sa 476, Sess. 1842.) The act 5 Vict. c. 5. & 63, mere at the time of the death of such directs the Accountant-General to cause grantor, devisor, or testator, or during to be laid before Parliament every year the minority or respective minorities an account showing the state of the only of any person or persons who, unSuitors' Fund and the Suitors' Fee Fund, der the uses or trusts of the deed, surwhich stand in his name. The Suitors' render, will, or other assurances directing Fund consists of money and stock un- such accumulations, would for the time claimed, but which are open to claim at being, if of full age, be entitled to the any time. On the 1st of October, 1842, rents, issues, and profits, or the interest, this fund amounted to 26,2991. cash, and dividends, and annual produce so di2,869,2131. stock. The Fee Fund ac-rected to be accumulated. And in every crues from fees formerly payable to the case where accumulation shall be directed different officers of the court for their otherwise than as aforesaid, such direcown advantage. These fees amounted to tion shall be null and void, and the rents, 62,808l. in the year ending Nov. 1842. issues, profits, and produce of such proThe salaries of the lord chancellor, the perty so directed to be accumulated shall, vice-chancellors, and other officers of the so long as the same shall be directed to be Court of Chancery are paid out of these accumulated contrary to the provisions of two funds.

this act, go to and be received by such Before the passing of the act 5 Vict. person or persons as would have been enc. 5, for suppressing the equity jurisdic- titled thereto, if such accumulation had tion of the Court of Exchequer, there was not been directed.” Sect. 2 provides, an Accountant-General of that court; “ that nothing in this act contained shall and in April, 1841, a sum of 2,730,8621. extend to any provision for payment of was standing in his name in the Bank of debts of any grantor, settlor, or devisor, England. The account is now trans- or other person or persons, or to any proferred to the Accountant-General of the vision for raising portions for any child Court of Chancery. The duties of the or children of any person taking any inAccountant-General and Masters of the terest under any such conveyance, settleExchequer are now performed by the ment, or devise, or to any direction Queen's Remembrancer.

touching the produce of timber or wood There is an Accountant-General of the upon any lands or tenements; but that Irish Court of Chancery.

all such provisions shall be made and ACCUMULATION. [CAPITAL.] given as if this act had not passed.” Sect.

ACCUMULATION. An act of Par- 3 provides that the act shall not extend liament (39 & 40 Geo. III. c. 98), after to dispositions of heritable property in declaring in the preamble that “it is ex- Scotland. pedient that all dispositions of real or This act was passed in consequence of personal estates, whereby the profits and the will of Peter Thellusson, a Genevese produce thereof are directed to be accu- by birth, but settled in London, who died mulated or the enjoyment thereof post- in 1797, leaving a landed estate worth poned, should be made subject to the about 40001. a year, and personal prorestrictions thereinafter contained,” pro-perty to the amount of 600,0001. He ceeds to enact to the following effect. devised and bequeathed this large proNo person can settle or dispose of pro- perty to trustees upon trust to accumulate perty by deed, will, or otherwise, so as to the annual proceeds of his property and invest them in the purchase of lands, , is likely to arise from limiting this power, during the lives of his sons, grandsons, as is done by this act. Another instance and the issue of sons and grandsons, of this legal limitation of a man's disposieither living or in the womb (in ventre tion of his property is noticed under sa mere), at the time of his death, and PERPETUITY. the lives of the survivors and the sur- ACHÆAN CONFEDERATION.-vivor of them; and after this period to The Achæans, who formed that federal be conveyed to the lineal descendants of union which is commonly called the his sons in tail male. According to the Achæan League, inhabited the tract which provisions of this will, the proceeds of the lies along the southern coast of the Coproperty were not to be enjoyed, but to rinthian gulf (Gulf of Lepanto). They be accumulated and laid out in land formed twelve small independent states. during the lives of all his sons and grand- The history of the Achæans is an insons, and the issue of sons or grandsons considerable part of the general history of living, or unborn, at his death, provided Greece till about B.C. 251. During the such issue was then in the womb. After invasion of Greece by the Persians, they long litigation, it was finally decided by took no share in the battles of Marathon, the House of Lords that the trusts for accu- Salamis, and Platæa; nor, during the mulation were legal (Thellusson v. Word-long war of twenty-seven years, did they ford, 11 Ves. 112); but the act which was take anything more than a kind of forced passed shortly after has prevented such ac- part in this protracted struggle between cumulation for a longer period than during Athens and Sparta. At the commencethe minority of persons living or in ventre ment of this war (B.C. 431), they were, sa mere at the time of the death of the with the exception of Pellene, neutral; person who so disposes of his property. but afterwards favoured the LacedæThe act, as it will be observed, mentious monian interest, in compliance with the various periods, any one of which may be general feeling in the peninsula. The selected by the person who directs the cause of their taking no part in the geaccumulation of his property. There were neral affairs of Greece may probably have nine lives in being at the time of Thel- been the want of union among the twelve lusson's death, and the enjoyment of the little states; for though they acknowledged property was consequently deferred till a common origin, and had a kind of conthey had all died.

nexion, they seem not to have had any The general rule of law in this country complete federal system. Yet they prois, that a man may dispose of his property bably attained, at an early period, a conas he pleases; he may give it to whom he siderable degree of prosperity and internal likes to be enjoyed; or he may give it good policy, for the Achæans founded to trustees to apply to such purposes as several flourishing colonies in Southern he pleases. But various restraints have Italy; and the political institutions were been imposed by statutes on this general considered preferable to those of most power, and the restraint upon accumu- states, and were often imitated as a model. lation is one of them. The Statute of During the struggles of the Southern Mortmain, as it is commonly called Greeks against the successors of Alexan[MORTMAIN), is another instance in der, the Achæans wished to remain neuwhich the legislature has interfered with tral; but they ultimately became the prey a man's general power of disposing of of the Macedonians. Some cities were his property. In the case of accumula- compelled to receive the garrisons of Detion, which a man directs to be made metrius and Cassander; and afterwards after his death, the limits of time now those of Antigonus Gonatas, or to submit aliuwed sem amply sufficient for any to tyrants. There would be little in the reasonable purpose.

We may conceive history of the Achæan states to attract atvarious good reasons against allowing a tention, were it not for the more complete man an unlimited power of directing the federal union which arose out of these accumulation of property after his death; discordant elements. and it is not easy to see that any mischief Four of the western states of Achæa, Dyme, Patræ, Tritæa, and Pharæ (Poly- | object was to humble the party of his opbius, ii. 41), seeing the difficulties in ponent Lycortas. Among the accused who which Antigonus Gonatas, King of Ma- were sent to Rome, and there detained for cedonia, was involved, formed a union for seventeen years, was the historian Polymutual protection, B.C. 281. Five years bius, the son of Lycortas, and the strongest afterwards Ægium ejected its garrison, support of his father's party. and Bura killed its tyrant, which examples The last war of the league was with moved locas, who was then tyrant of the Sparta, which was brought about (B.C. neighbouring town of Ceryneia, to sur- 150) through the influence of Critolaus, render his authority, and save his life. one of those who had been detained at These three towns joined the new league. Rome. This, which the Romans consiIn B.C. 251, Aratus having delivered dered as a kind of attack on themselves, Sicyon, which was not an Achæan town, joined to the contumacious treatment of brought it over to the confederacy, of the Roman commissioners at Corinth, which he was elected general in b.c. 245. which will be presently mentioned, inIn 243, having driven the Macedonian duced the Republic to send L. Mummius garrison out of the stronghold of Corinth, to chastise the Achæans; and a fitter which is the key of Southern Greece, this man for the purpose could not have been town also joined the league. Megaris, found. The treatment of the Roman Epidaurus, and Trezen, followed soon commissioners did not tend to soften the after. During the long career of Aratus ferocity of their barbarian opponent. The other Peloponnesian states were included Achæan general Diæus met Mummius on in the union; and in fact Aratus is called the isthmus of Corinth, and fell an easy by Polybius the founder of the confedera- prey to the Roman general, who, after the tion. In the year B.C. 208, five years battle, burned Corinth to the ground (B.C. after the death of Aratus, Philopæmen 146). Mummius and ten other senators was elected general of the confederacy, to then changed Greece into the Roman prowhich he gave a new life by his activity vince of Achæa, leaving, however, to and wisdom. As the Romans had now certain cities, such as Athens, Delphi, and humbled Philip V. of Macedonia (B.C. others, the rank of free towns. Corinth 197), and reduced him to the rank of a afterwards received a Roman colony. dependent king, it was their policy to To those who study the history of civil weaken the power of the confederation; polity, it is a matter of some interest to and this was easily effected by the Roman trace the formation of federative systems, and anti-Roman parties, which had been or those by which a number of states unite for some time growing up in the Greek for certain general purposes, while each cities. In 197, however, Sparta became maintains all its sovereignty except that a member of the Achæan league, and the portion which is surrendered to the sodesign of its leaders was to include all the vereignty of the united states. The obPeloponnesus within its limits. After ject of such associations is twofold—to the death of Philopæmen (B.C. 183) the secure peace and a ready intercourse beRoman party grew still stronger under tween all the states, and all the members the influence of Callicrates, and the league of them; and secondly, to facilitate all remained, in appearance at least, on the transactions with foreign states, by means side of the Romans in their final struggle of the power given to the united body. with Perseus, king of Macedonia, which Defence against foreign aggression is one ended in the defeat and death of the king of the main objects of such a union; while (B.c. 168). The influence of Callicrates foreign conquest is, strictly speaking, inwas now almost supreme, and, so far from compatible with it. opposing, he urged the Romans to demand The history of the Grecian states pre. 1000 of the noblest Achæans to be sent to sents us with several examples of federal Rome to answer for their conduct in the unions, but the Achæan confederation is late war. Callicrates and his party had better known than any other, though our named more than 1000, of whose guilt, information about its constitution is very however, 10 proof was adduced; his only | defective.


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