The next century will certainly be a frugal age in the sense of planetary frugality. With a greatly-increased call on the resources of the world entailed by the vast increase of population it will be absolutely necessary for us to "make the most of what we here do spend." And with the more humane and gentler notions which will prevail it is also certain that the new age will be an age of cheapness. Of course, cheapness is a purely relative matter. The suit of clothes which would be very cheap at seven guineas in the United States would be very dear at that price here, not merely because by reason of the tariff clothes and other things are expensive in America, but also because wages are higher there than in England. In spite of the enormous growth of population since, say, the accession of Queen Victoria, the standard of comfort is much higher now than then, and prices are lower, because production has increased more quickly than population. Comforts are cheaper, wages are higher. But the standard of comfort will be higher still a hundred years hence. Workmen will earn a greater share of the commodities of life, and whether their pay be higher, computed as money, or lower, makes no difference to the question of cheapness. If wages are low commodities will be low-priced: that is all. And probably this is the turn that events will take, though, even then, the monetary earnings of the worker will probably be much higher than they are nowadays. It is doubtful whether so clumsy a contrivance as metallic currencies, of intrinsic values corresponding with their titles, can survive at all; but of course everything will be computed in terms of some currency or other--perhaps of an obsolete currency. We are apt to think that the steady value of gold can be counted upon to remain a constant factor of economics. But only a very small part of the real business of the world is even now transacted with actual gold. Much the greatest part is transacted in paper--that is by the simple balancing of debits against credits in various clearing-houses.