FOOTNOTES: 

[1] The smacks used to convey the fish from the traulers to the Thames are called ‘carriers.’

PARTNERSHIP IN COMMANDITE.

It is a general prejudice, that a subject like the law of partnership is a matter for the legal profession only, or, at most, for the consideration of capitalists embarked in partnership business.  But it is, in truth, a subject of great interest to the public at large, and especially to that valuable portion of the community who possess ability and character, and have a little property—­but not much—­at stake in the soundness of our institutions.  This class have, however, of late begun to shew a visible interest in the subject—­an interest which, had it existed earlier, might have prevented any of the anomalies of which we complain from increasing to their present excess.

The political economists have ever admitted the great influence of combined capital:  they have pointed to many valuable operations, such as gas-works, water-works, railways, &c. which can be performed by combined capital, but are beyond the capacity of individual capitalists.  They have also admitted the efficacy of a division or combination of labour; whether it be that of the mechanic, or of some higher grade, such as the designer and projector.  The views of the older school of political economists would be in entire concurrence with anything that would facilitate such combinations, where several men with skill or money take their parts; as, for instance, where one is the buyer of raw materials, another keeps the accounts, another draws patterns, and another acts as salesman.  On the other hand, some novel speculators go so much farther, that they would revolutionise society, and, by force, compel it to be organised into co-operative sections.  It infers no sympathy with these wild schemes of destruction, and artificial reconstruction, to desire that our law should give facility for co-operation and combination—­nay, that it should give to it every encouragement consistent with other interests, and with civil liberty.

But our law, unfortunately, instead of doing thus, has set heavy impediments in the way of co-operation; we might speak more strongly, and say, that it has prepared pitfalls, in which any person guilty of having joined in a co-operative scheme, may at once find himself overwhelmed, as a punishment for his offence.  Invest part of your savings in a company in which you have reliance; assist a young man, of whose capacity and honesty you think well, by investing money in his business; and some day you may find yourself ruined for having done so.