The principle of the account-book consists naturally in the book forming a real account with debit and credit--like all accounts in ordinary book keeping,--in which is inscribed in a way which would be regarded as valid, having legal force the sums corresponding to the transactions effected either by being written out at full length, with the signature, or by marking in figures, and indicating at the same time the personality of the party making the transaction, or by means of stamps as we have just seen, or finally by some other way. Directly we leave the principle above mentioned to look at some intermediary form of its application, a host of combinations offer themselves. The use of stamps for example would permit doing away with the debit side in the account books. The buyer in this case detaches, from his account-book, which becomes now only a credit account book, the stamps corresponding to the extent of the transaction, and he sticks them in the account book of the seller, which is also only a credit one: the credit of the seller increases, that of the buyer diminishes, that is all. If the buyer does not stick his stamps in the account-book of the seller, these stamps can circulate, they would be analogous to bank notes which have been endorsed by writing upon them the name of the first party holding them. SOCIAL COMPTABILISM (COMPLEMENTARY NOTE) By ERNEST SOLVAY In the last number of these Annals[G], I explained in a manner which I consider definitive, the theoretical conception of comptabilism. To this point of view it seems to me necessary to add a few words in order to throw light on certain points which the first article did not sufficiently bring out. We have seen what is the use of money and to whom it is of use, we have considered if it was indispensable. Gold and silver are not a «real commodity» except when they take the form of useful objects, utensils, works of art, etc., the possession of which produces enjoyment. Turned into coin, they lose this character, they become an instrument, an instrument recognised so far as indispensable for obtaining a real commodity, be this commodity material or moral, by an operation which I have designated under the general term of «transaction». Money is not then a commodity in the true sense of the word; on the contrary it is generally obtained by the surrender of a commodity. It is solely in order to accomplish the «operation» of transaction that money is needed, because this is the method, the means, the instrument which custom has consecrated; and if another practicable method, means or instrument were found in order to accomplish this operation money would no longer be indispensable. Now, this is what comptabilism does.