1. How is it that a bad sovereign does the work of buying as well as a good one until it is found out? Is it that it makes no difference whether it is made of gold or not?

2. ‘I am a man, therefore I have a right—

(1) To an acre of land as my own.

(2) To demand that there shall be no such thing as private property to defraud and injure me.'

Examine these claims. Is there any foundation for

them?

3. The State is always a part-owner of land, a partner with the proprietor.' What reasons are given for this popular assertion? Estimate their value.

4. The workmen in a mine strike because the owner refuses to dismiss a non-unionist miner. How far are they justified by their own interests and those of the country generally ?

5. The owner then shuts up the mine altogether. How far has he a right thus to close one of the sources of England's wealth?

6. Trace the effects of competition and the good it effects for the working classes and for consumers.

7. Give and explain the two meanings of the word Value, as expressing—

(1) That which constitutes the essence and the strength of the demand for commodities.

(2) The sense usually given to the word in Political Economy.

[Turn over.

8. France puts protective duties on English cotton; upon which English cotton-spinners in the name of reciprocity demand a similar duty upon French silks. What good will such reciprocity do for them or for England? Explain what reciprocity really means and does.

9. Explain the nature of co-operative stores, their economical effects and their probable action in the future on shopkeepers and other middle-men.

10. Does Mr. Fawcett make a complete statement when he says that wages depend upon the ratio between capital and population? Will wages be always the same when the quantity of capital and the number of the population are in the same proportion?

[T. T. 1879.]

SECOND PUBLIC EXAMINATION.

Pass School. Group B.

Political Economy. II.

1. What is the general over-production described by Mr. Fawcett? How far and under what conditions is over-production ever possible?

2. A quantity of gold in ingots is exchanged at the Bank for an equal quantity of gold in coin-coined at the rate of £3 178. 9d. an ounce. It is asserted that by this the Mint gives value to the gold coin. What is really the value of a sovereign and how is this value measured?

3. Political Economy, we are told, is the Science of Value. Yet there are often various prices for the same goods in the same town, and feeling, taste, and fashion often regulate the value put upon commodities. Is then a Science of Value possible?

4. State Mr. Fawcett's definition of Socialism, and his objection to the theory. Is Socialism to be found in English Law? What checks have been imposed upon it, and how far are they effectual?

5. What is fixed capital? Give instances of it. What is the effect of its excessive creation upon the wealth of the nation?

6. Since trade is always an exchange of goods of equal value, how do you explain the fact that the imports into England are regularly greater than the exports?

7. How much money does England require? If more comes in what becomes of it, and does it do any good to England?

[Turn over.

8. Why does Free Trade ask no questions as to where goods have been made? Can it be right to make no difference between our own countrymen and foreign rivals? Must not England suffer by buying abroad and allowing some of her manufactures to be ruined, and some of her workmen to be thrown out of work?

9. Are the following wealth in Political Economy ?— (1) Climate.

(2) A tidal Thames at London.

(3) A strong and active population.

(4) Mental qualities of the people.

(5) Good natural harbours.

10. Who decides at last whether the wages demanded by the workmen shall be given them or not? Is it the employer? In what form is the decision announced? Show the bearing of this fact upon strikes and the principle which animates them.

[T. T. 1879.]