And now it may be asked, where are the evidences of this wonderful progress, at least in that branch of electricity which is the subject of the present paper? Quite recently, the wonders of the electric light were in the mouths of every one; while at present, little or nothing is heard about it except in professional quarters. Is the electric light a failure, and are all the hopes that have been placed on it to end in nothing? Assuredly not. The explanation of the present lull in electric lighting is not far to seek; it is due almost solely and entirely to speculation. The reins, so to say, had been taken from the hands of engineers and men of science; the stock-jobbers had mounted the chariot, and the mad gallop that followed has ended in ruin and collapse. Many will remember the electric-light mania several years ago, and the panic that took place among those holding gas shares. The public knew little or nothing about electricity, and consequently nothing was too startling or too ridiculous to be believed. Then came a time of wild excitement and reckless speculation, inevitably followed by a time of depression and ruination. Commercial enterprise was brought to a stand-still; real investors lost all confidence; capital was diverted elsewhere; the innocent suffered, and are still suffering; and the electric light suffered all the blame. The government was forced to step in for the protection of the public; and the result of their legislation is the Electric Lighting Act which authorizes the Board of Trade to grant licenses to Companies and local authorities to supply electricity under certain conditions. These conditions have reference chiefly to the limits of compulsory and permissive supply, the securing of a regular and efficient supply, the safety of the public, the limitation of prices to be charged, and regulations as to inspection and inquiry.