1. Labour has been described as the universal measure of value: do you think this assertion true? If not, why not?

2. What are favourable exchanges? What causes exchanges to be favourable? Are they advantageous to a country? Is an excess of exports over imports a good thing? How comes it that as a rule imports into England exceed exports, in apparent violation of the nature of trade?

3. How is one to discover whether gold has become dearer or cheaper in England? It is generally assumed that the Californian and Australian discoveries have made gold cheaper is that so? Sustain your opinion by some proof.

4. What is Rent? How does agricultural rent differ from the rent of a house? State and criticise Ricardo's doctrine of rent.

5. Every employer, exclaim some leaders of Trades Unions, is bound to bestow on every labourer a minimum wage which will ensure him a respectable standard of living. Examine whether this is always possible.

6. What specific enactment does a suspension of the Bank Charter Act repeal? Did the suspensions of 1847 and 1866 produce any effect whatever except on the imaginations of City men? If the suspensions created any real change, what distinct thing must that change have been?

7. What makes inconvertible bank-notes generally sink below their par value? What special evils do legal tender notes of changeable value inflict on a country?

[Turn over.

8. Only 3 parts in 100 of a London Bank's receipts are composed of money: what are the other 97 parts? and what is it that it lends in such quantities to borrowers?

9. Is the extensive employment of machinery a good or an evil to the working classes? Give reasons for your

answer.

10. Trace the effects of duties on the importation of raw materials, and distinguish, with examples, between duties which violate and duties which do not violate the principle of Free Trade.

[M. T. 1878.]

3. What are the rights which the lord of a manor now has over

(1) The common.

(2) The freeholders.

(3) The customary tenants of the manor.

4. The devisee is now fully liable for the debts of the testator.' How has this come about?

5. What is the effect of

(1) Limitation of a copyhold to A and his heirs ; (2) Lease of 33 years at rackrent by tenant-in-tail; (3) Grant of Hilton Manor to A and B equally to divide among them?

6. What are 'powers?' Give examples of their use. 7. Under the old law of inheritance when a man died intestate without issue, to whom did his real estate go?

8. What is meant by a 'contingency?'

9. What are the restrictions upon the sale and purchase of an advowson?

1. What is an equitable estate in land? How can such an estate now be created?

2. A pure feud could not be aliened without the consent of the lord and the heir.' How has this state of things been altered?

3. Explain and illustrate the following terms :-base fee, discontinuance, writ of elegit, ejectio firmae, escheat propter defectum sanguinis, annuity.

4. What are the principal provisions of ?

(1) The New Wills Act.

(2) Statute of Westminster II.

(3) Statute of Enrolments.

(4) Copyhold Acts.

5. Dower has now sunk into comparative insignifi

cance.' How is this?

6. What is meant by a conveyance by matter of record? Classify such conveyances.

7. What lapse of time is sufficient to secure a good title to a freehold by mere occupation?

8. The Common Law of England is especially unfavourable to aliens.' With respect to real property how has this severity been modified?

9. Describe a release. How may it enure?

[M. T. 1878.]