5. The Society can admit members under twenty-one and take from them binding receipts, which would otherwise be of no effect.

6. If it invests money on mortgage, such mortgages can be discharged by a mere endorsed receipt without reconveyance. 7. Its officers are legally bound to render account and give up all money or property in their possession on demand or notice, and may be compelled to do so.

8. Disputes can be legally settled according to the Society's own rules.

9. Members of registered Friendly Societies have the privilege of legally insuring money, on the deaths of their wives and children, for their funeral expenses, without having an insurable interest in their lives.

10. Members of registered Societies may dispose at death of sums payable by the Society by written nomination without a will; and this nomination may be made by youths of sixteen who cannot make a will till they are twenty-one.

11. Where there is no will and no nomination, the trustees may distribute sums without letters of administration being taken out (a person doing so in any other case would make himself liable for the debts of the deceased).

The Acts contain provisions inserted with the object of securing the solvency of the societies. In most of the states these provisions have been operative; but in others the position of some of the orders is not so satisfactory as it should be.

In the following table will be found the number of societies, the number of lodges or branches of these societies, the aggregate number of members, the total amount of their funds, and the average amount per member in each of the states. The figures are for the latest available periods, the dates being set forth below :

* Exclusive of 8 specially authorised societies. † Exclusive of honorary members.

It will be seen from the foregoing table that, taking the average amount of funds per member as the basis of comparison, New Zealand occupies first position with the sum of £19 10s. 4d.; Victoria comes next with £13 1s. 6d. ; South Australia takes third place with £12 8s. 8d. per member; Queensland comes next with £9 3s. 6d. ; and then follow New South Wales and Tasmania in the order named, with £8 7s. 9d. and £7 15s. 4d. respectively; Western Australia having the smallest amount, viz., £5 7s. 2d., to the credit of each individual member.

MONEY ORders.

The business transacted in the various Postal Departments under the system of money orders has grown to very large dimensions. This increase is due mainly to the greater facilities now afforded for the transmission of money by this method, though it is also to some extent attributable to the more general appreciation of the system by the working classes. The following is a statement of the business transacted during 1902:

The average amount of each money order issued was £3 7s. 5d., and the business done by New South Wales greatly exceeded that of any other state. The average value of money orders issued in the United Kingdom during 1902 was £3 0s. 5d.

POSTAL NOTES.

Besides the money orders mentioned above, a system of postal notes is in force in all the states. The notes are issued for fixed amounts, varying from 1s. to 20s. The number and value of notes issued and paid during 1902 in each of the states were as follows:

These figures show that, for the transmission of small amounts, postal notes are rapidly superseding money orders. While in 1902 the number of money orders issued was less than half that of postal notes, the value of the latter was only slightly over one-fourth of the value of money orders, the average value of postal notes being 7s. 3d. as compared with £3 7s. 5d. for money orders.

BANKRUPTCIES.

The bankruptcy laws of the different states are even more dissimilar than the laws on most other questions of importance; they have also been fluctuating, and the subject of many experiments and amendments. This renders any work of comparison difficult and unsatisfactory. Returns are available for all the states for the year 1902, and are given below. In connection with the table it may be pointed out that the figures are exclusive of 74 liquidations in Queensland, with liabilities stated at £86,999, and assets at £69,876; and also of 183 private arrangements under the Insolvency Act in South Australia, for which the assets and liabilities are not stated. The Victorian figures include

209 Deeds of Arrangement under the Act of 1897, the liabilities of which were £204,956, and the assets £181,139 :—

Little, if any, reliance can be placed upon the statements made by bankrupts as to the position of their affairs, the assets being invariably exaggerated. Taking the figures given above for what they are worth, it would appear that the average amount of liabilities per bankrupt was £634, and of assets, £392, showing a deficiency of £242. In the following table the average figures for the ten years ended 31st December, 1902, are given; the assets, however, have been omitted, since the. statements, so far as some of the states are concerned, are palpably worthless. The Victorian figures include the "Deeds of Arrangement" for the years 1898 to 1902, while the South Australian returns are exclusive of private arrangements, which averaged 193 per annum. The Queensland figures are exclusive of liquidations.

THE

POSTS AND TELEGRAPHS.

HE first Australasian post-office was established by Governor Macquarie in the year 1810, Mr. Isaac Nichols being appointed Postmaster. The office was in High-street (now known as George-street), Sydney, at the residence of Mr. Nichols, who was, "in consideration of the trouble and expense attendant upon this duty," allowed to charge on delivery to the addressee 8d. for every English or foreign letter of whatever weight, and for every parcel weighing not more than 20 lb., 1s. 6d., and exceeding that weight, 3s. The charge on colonial letters was 4d., irrespective of weight; and soldiers' letters, or those addressed to their wives, were charged 1d. Very little improvement in regard to postal matters took place for some years.

In 1825 an Act was passed by Sir Thomas Brisbane, with the advice of the Council, "to regulate the postage of letters in New South Wales," giving power for the establishment of post-offices, and to fix the rates of postage. It was not, however, until 1828 that the provisions of the Act were put into full force. The rates of postage appear to have depended upon the distance and the difficulty of transmission. The lowest single inland rate was 3d., and the highest 12d., the postage on a letter increasing according to its weight, which was fixed for a single letter at ounce. Letters between New South Wales and Van Diemen's Land were charged 3d. each (ship rate), and newspapers 1d. Other ship letters were charged 4d. single rate, and 6d. for any weight in excess. The privilege of franking was allowed to the Governor and a number of the chief public officials, and letters to and from convicts passed free under certain regulations.

In 1831 a twopenny post was established in Sydney; and in 1835, under Sir Richard Bourke, the Act of 1825 was repealed and another Act was passed, fixing the charge on a single letter at 4d. for 15 miles, 5d. for 20 miles, 6d. for 30 miles, and so on up to 1s. for 300 miles. In 1837 a post-office was established in Melbourne, and a fortnightly mail was established between that city and Sydney. Stamps were introduced in the same year in the shape of stamped covers or envelopes, which are believed to have been the first postage-stamps ever issued. By 1838 there were 40 post-offices in the state of New South Wales, which at that time, of course, included the territory now known as Victoria and Queensland; and in the Sydney office about 15 persons were employed. The revenue of the Department for the year was