It appears to me that this is a very good account rendered of a very good stewardship, and involves, for the workmen interested, a number of useful practical lessons on the true relations of capital to labour, including the relations of their own capital to their own labour. There are now about 800 Co-operative Associations of Consumers in France; but the Anzin Association is by far the most important of them all. As the existing associations are estimated to consist on an average of 550 members each, we have 440,000 heads of families, and a total presumable population, therefore, of not far from 2,000,000, more or less successfully availing themselves of the co-operative principle in France. The net profits vary greatly in the returns of these associations, from 1 to 14 per cent. The Co-operative Coal Association of Roubaix shows a net profit of 21 per cent., and the Co-operative Bakery of the same busy and thriving city a profit of 23 per cent. But the Anzin Association not only covers more ground than any of the rest: it covers it in a more equably satisfactory fashion. During the past year, on an employed capital of 156,150 francs, it made sales amounting to 2,303,836 francs, with a gross profit of 450,497 fr. 61 c., and a net profit of 310,106 fr. 30 c. Each man had spent an average of 738 fr. 28 c., and received a net profit of 99 fr. 45 c. In other words, every holder of a 50 franc share paid for his share out of a single year's net profit, and pocketed 49 francs to boot! As indicating the scale of comfort attained in their daily life by these miners and their families, it is of interest to glance over the schedule of the goods and commodities supplied by these co-operative stores, it being premised that the stores do not keep or sell what are regarded as 'articles of luxury,' so that in these schedules we have the present scale of the necessaries and comforts of ordinary life among the more industrious and thrifty of the French working-classes. That even in the seventeenth century the French artisans, and the more prosperous of the French peasants, lived much more comfortably than one would infer from the pictures usually painted even by such historians as Michelet, who, with all his theories and all his imagination, took more trouble than M. Thiers to keep within hailing distance of the facts, would seem to be shown by the inventories and the wills of artisans and peasants disinterred during the last quarter of a century from the local archives of Troyes and other important towns.