wrong in this supposition, we must accord to the illuminator of this manuscript the praise of having possessed a more chastened taste than many of successors." It would be absurd to pretend that the work attributed to Godemann is an average specimen of AngloSaxon art. The illuminations, for example, are very superior to those of the sacred poem known as Cædmon's Metrical Paraphrase of Scripture History, preserved in the Bodleian Library at Oxford. In these the human figure is badly drawn; and there is perhaps inore of invention in the initial letters than in the larger compositions. LOCOMOTION OF ANIMALS.—No. V. It was stated in the last number that in walking the leg swings by the force of gravity, like the pendulum of a clock, and that no muscular effort is required for that purpose. Now many persons may naturally ask how has this been discovered, or in what manner can it be proved, and what are the results of this principle in the locomotion of the human race? These are the points which we propose at once to examine. An attentive observer of persons in the act of walking may easily detect that the time of each step is constant in the same person when moving at the same rate; and he will see how very quickly the steps of children are taken, when compared with those of grown persons. A child and a man never take their steps in the same time when they are walking at their natural paces. These circumstances have recently attracted the attention of Messrs. W. and E. Weber, one of them a celebrated anatomist, and the other a distinguished natural philosopher. In order to ascertain whether in walking the legs of human beings are moved by means of their muscles, or by any other extraneous force, they made the following experiments on dead bodies:-In the first experiment, the lower extremity of a person, removed at the hip-joint, was suspended by a short string, so that it might move as if it were in its natural position. An impulse having been given, they found that the limb oscillated backwards and forwards nearly in the same time as that of a living person of the same length, when walking at the top of his speed. In the second experiment, they cut through all the muscles of the thigh, and left the thigh-bone adhering to the hip-joint. In this case the leg oscillated rather more frequently than in the preceding one. In a third experiment, they caused the leg to oscillate without cutting its muscles, and they then compared the durations of the movements in the above-mentioned cases with the motions of legs of equal length in living persons. By these means they found that the legs of the latter performed their movements in very nearly the same time as those of the dead, not differing from each other more than from one to two hundredths of a second in each oscillation. Having thus found that death did not sensibly alter the time of the moveinents of the legs, they concluded that the muscles did not affect them during life. In following out these researches, Messrs. Weber found that the duration of the movement of the legs depended on their lengths, and that the longest leg required the greatest time in its pendulous movement; also that the times of their oscillations varied as the square roots of their lengths, precisely like the pendulum of a clock. We have also found by experiment that the length of each step is proportionate to the length of the legs. In the quickest walking the length of each step is rather more, and in moderate walking rather less, than the length of the extended leg, measured from the hip-joint to the ground. It must, however, be borne in mind that since the length of a step increases as the length of the leg, whilst the duration of the step only increases as the square root of that length, the time occupied by tall persons in taking a step is not so great in proportion as that occupied by shorter persons; otherwise a child would be able to walk as fast as the tallest man. For instance, let us suppose the lengths of the legs of a man and child to be respectively three and two feet: the lengths of these steps will be as three to two, but the durations of the steps will be as the square root of three to the square root of two, or as 3 to 2:45 nearly; that is, the child will take a much longer time than the man for a step in proportion to the lengths of their steps. It appears from this that the respective rates of walking of the man and child, which are proportional to their lengths of step divided by their times, will be very nearly as five to four, so that the man will walk five miles whilst the child walks four. These results are true in all cases of ordinary quick walking, but this may be varied by calling into action extraordinary muscular power, which, however, as we have already stated, can be sustained only for a very short period. When we speak of the length of a pendulum, such as that of a clock, it must not be understood to mean the whole length of the body of which it is composed, but the distance from its axis of motion to its centre of oscillation. By the term centre of oscillation we are to understand a point in the vibrating body, in which, if the whole mass were concentrated, and attached to the same axis of motion, it would vibrate in the same time as the body actually does in its natural state. The lengths of pendulums may be found experimentally by counting the number of oscillations which they make in a given time; for it is found that the lengths of two pendulums are respectively in the inverse ratio of the squares of the number of oscillations made by them in the same time. If a pendulum be composed of a prismatic rod of uniform density, suspended by one end, its centre of oscillation will be two-thirds of its length from its axis of motion. In the human leg the centre of oscillation is found experimentally by counting the number of the oscillations which it makes in a given time when suffered to swing freely. It is thus found to be nearly at the same distance from the hip-joint, which is its axis of motion, as if it were a prismatic rod, that is, nearly two-thirds of its length measured from the hip-joint to the sole of the foot; or, more accurately, as the length of the leg so measured multiplied by 0.587, the product of which is rather less than two-thirds the whole length. As a consequence of the similarity of the motion of the leg in walking to the swinging of a pendulum, and of its depending on the same cause, namely, the force of gravity, we may observe, that a man will find himself able to walk at a sensibly quicker rate in high northern latitudes than at or near the equator. It is well known that a pendulum of given length makes a greater number of oscillations the further it is carried from the equator, for that number varies as the squareroot of the force of gravity which continually increases from the equator to the pole; and, since we have seen that there is little if any muscular exertion in the act of walking, so far at least as relates to the backward and forward motion of the legs, we may fairly conclude that gravity will produce the same effect on them as on any other oscillating body similarly circumstanced. Thus we perceive how dependent our movements are on the quantity of force exerted by gravity on the body, and how admirably the human organs are constituted to act in accordance with the physical state of the earth; and we shall become more sensible of this fact when we reflect that if the earth's force of gravity on the body had been double, a man would scarcely be able (as now constituted) to support his own weight, and the legs would be only able to force the trunk forwards very slowly, whilst the swinging leg would move through its arc of oscillation in a much less period of time than it now does, and arrive at its destination to receive the trunk long before the standing leg would propel the latter to its destined position. On the surface of the sun, the force of gravity being more than twenty-seven times greater than on that of the earth, a man, says Sir J. Herschel, would be crushed by the weight of his own head; again, on the planet Jupiter, the strongest man could scarcely support his own weight. On the surface of Mars, on the contrary, the power of the muscles would be three times, on the Moon six times, and on the smaller planets twenty times greater than on the Earth; consequently on one of the latter, a man would be able to spring twenty yards high, and sustain no greater shock by his fall than he does on the earth by leapng a yard. These facts serve to illustrate the wonderful manner in which the muscular power of man is adapted to his movements on the earth's surface, and to counteract the force of gravity. Having now shown in what manner the time of a step and its length are regulated in walking, we will proceed to investigate the positions of the two legs during the period of a step. Let us suppose that a person is in the position of figure 1, in which it will be observed that the head of Fig. 1. a. the thigh-bone at a is vertically over the foot of the same leg b, and that the hinder leg is extended to its utmost length immediately before it is lifted from the ground. Now in this position the whole weight of the body is supported by the forward leg, because the centre of gravity of the whole body, which lies nearly in the line joining a with the head of the other thigh-bone, is thrown a little on the side of the leg a b, so that the vertical line through the centre of gravity may fall within the base of support, the sole of the foot. In this figure b c is the length of a single step, and since the squares of a b and b c are equal to the square of a c, we find that the sum of the squares of the elevation of the centre of gravity of the body above the horizontal plane, and of the length of the step, is equal to the square of the length of the extended leg. It is right to mention that, strictly speaking, this expression would be slightly modified by certain circumstances, the consideration of which would lead to details unsuited to a popular treatise.* This position, wherein the legs form with the ground a right-angled triangle, recurs at the beginning of every step. The walker being now in the position preparatory to making a step, namely, that in which the extremities of the two legs form with the ground a right-angled triangle, and the right leg in advance of the left, let us follow him through the step, and mark its several stages. The left leg is first raised from the ground, and the knee and ankle joints are bent, in order to shorten the leg and allow it to swing freely in the air. It then swings forwards, and, passing the right leg, is placed on the ground in a new position,' as far in advance of the standing leg as it was previously behind it: during this period the centre of gravity advances in an almost horizontal line, and the supporting leg, which at the beginning of the step was bent at the knee and ankle joints, is gradually extended until it is in a position precisely similar to that of the other leg at starting. It has been already mentioned that in this action the supporting leg not only bears the whole weight of the body, but pushes the centre of gravity upwards and forwards, in consequence of which the trunk is thrown in advance of the base of support, and would fall downwards, but the left leg arriving immediately under the advanced position of the trunk, receives its weight and prevents its falling; when the trunk is thus caught by the forward leg, the latter slightly bends at the joints, so that the shock caused by the foot with its burden reaching the ground becomes almost imperceptible. The left leg having now taken a position in advance of the right, and been placed in a state fit to support the whole of the trunk, the right leg is free to move in a similar manner; and thus in walking the two legs interchange their offices alternately. If we examine the action of the supporting leg, we shall find that it exerts two forces, one of which pushes the centre of gravity upwards, and is exactly equal to and counteracted by the weight of the body; the other urges the centre forwards, and is equal to the sum of the resistances, such as that of the forward leg when placed on the ground, the air, the friction of the body, &c., which act in an opposite direction, and tend to drive the body back, so that the movement of the centre of gravity is very nearly uniform, at least its mean motion may be considered as actually so. may appear to some rather paradoxical that the force which drives the body forwards in a uniform motion should equal those which drive it backwards, yet the necessity of this becomes apparent when we reflect that if the force employed at every step to urge the body forwards were greater than that which impedes its progress, there would be in walking a constant accumulation of force in a forward direction, which would impel the trunk faster than the legs, and the latter could not keep pace with the trunk without great muscular labour, which would soon produce exhaustion, and the walker would consequently be obliged to stop, or else would quickly fall to the ground on his face. This evil is prevented by the above-mentioned mechanical condition, namely, that the forces which drive the centre of gravity of the body forwards in walking, are equal to those which drive it back. It * Those who wish to pursue this subject farther may consult Dr. Todd's Cyclopædia of Anatomy and Physiology,' Art. Motion. How great and painful the shock would be were the joints not to bend, may be imagined by those who have in walking unintentionally descended a step whilst they fancied themselves on level ground; in this case the leg is placed on the ground in a rigid state, and causes a severe shock to the body, more especially to the spinal columu. THE STOCK [Stock Exchange, Capel Court.] EXCHANGE. [Extracted from London,' No. CXLIV.] TOWARDS the close of the last century the increased scale of transactions in the Funds, and the new loans which were continually being raised, induced the principal frequenters of the stock-market to subscribe for the erection of a building for their accommodation. Capel Court, on the east side of Bartholomew Lane, once the residence of Sir William Capel, Lord Mayor in 1504, was fixed upon as a convenient situation for the purpose. The first stone was laid on the 18th of May, 1801, and contains an inscription, which states, for the information of remote posterity, that the national debt was then upwards of five hundred millions. This building, which is the present Stock Exchange, was opened in March, 1802. The entrance to Capel Court is nearly opposite the door at the east end of the Bank, leading to the room in that building called the Rotunda. No one is allowed to transact business at the Stock Exchange unless he is a member. If a stranger unluckily wanders into the place. he is quickly hustled out. There are about three hundred and fifty firms of stock-brokers in London, whose places of business are situated in the streets, courts, and alleys within five minutes' walk of the Royal Exchange. To these we must add thirty or forty bullion, bill, and discount brokers. All the more respectable of these moneydealers are members of the Stock Exchange, and the total number of members is at present about six hundred and fifty. The admission takes place by ballot, and the committee of the Stock Exchange, which consists of twenty-four members, is elected in the same Inanner. Every new member of the "House," as it is called, must be introduced by three respectable members, each of whom enters into security in 3007. for two years. At the end of two years, when the respectability of the party is supposed to be fairly ascertained and known, the liability of the sureties ceases; but, as each member of the house is re-elected every year, if in the course of the preceding twelvemonth there is anything discreditable in his conduct, he is not re-elected. If a member becomes a defaulter, he ceases to be a meinber; though, after inquiry, he may be re-admitted on paying a certain composition; but he must be re-admitted, if at all, by vote of the committee. When a member becomes unable to pay his creditors, there are certain official assignees who receive all the money due to him and divide it amongst his creditors. No man can be re-admitted unless he pays 6s. 8d. in the pound, from resources of his own, over and above what has been collected from his debtors. As some of the practices of the Stock Exchange are contrary to law, and cannot be enforced in the courts, the members are only to be held to them by a sense of honour, and such restraints in the way of exposure and degradation as the governing committee may be authorised to apply by the general body of members. Cases of dishonourable or disgraceful conduct are punished by expulsion. The names of defaulters are posted on the 'black board," and, in the language of the Stock Exchange, they are then technically called "lame ducks." In short, the committee have the power of effectually destroying the credit of a member whose transactions are of a dishonourable nature. They investigate the conduct of members whenever called upon by other parties, and give their award according to the evidence. 66 The two leading classes of men who have dealings on the Stock Exchange are the jobbers and the brokers, though the business peculiar to each is not unfrequently transacted by one person. Some members deal for the most part in English stocks, others in foreign, and many confine their attention principally to shares in mines, railways, canals, joint-stock banks, and other public companies; some call themselves discountbrokers and money-dealers, and transact business to a large extent in commercial securities-that is, in bills 46 are 12,000l. or 14,000l. per week, instead of locking up this sum every week in their strong-box, as a premium for the ingenuity of London thieves, authorise a broker to lend it on proper securities. Persons who pay large duties to government at fixed periods, and are in receipt of these duties from the time of their last payment, make something of the gradually accumulating sum by lending it for a week or two. A person whose capital is intended to be laid out in mortgage on real property finds it advantageous to lend it out until he meets with a suitable offer. The great bankers have constantly large sums which are not required for their till, and they direct their brokers to lend this surplus cash on the Stock Exchange. One banker lends about 400,000l. to the jobbers on every settling-day. Bankers are also borrowers at times, as well as lenders. The Bank of England sometimes, and also the East India Company, employ their brokers to raise money on the Stock Exchange. Some members of the Stock Exchange call themselves, appropriately enough, “managers of balances." Whatever the market rate of interest may be, it is more advantageous to a capitalist to employ his resources at the smallest rate of profit rather than that it should remain idle. Sometimes the jobber, at the close of the day, will lend his money at 1 per cent. rather than not employ it at all. But the extraordinary fluctuations in the rate of interest, even in the course of a single day, are a sufficient temptation to the money-lender to resort to the Stock Exchange. During the shutting of the stocks money is invariably scarce; but as soon as the dividends become payable, it is again abundant. At other times, on one day the rate of interest will be 10 per cent., and the next day only 2. The rate of interest offered in the morning will also frequently differ from that which can be obtained in the afternoon. Instances have occurred in which everybody has been anxious to lend money in the morning at 4 per cent., when about two o'clock money has become so scarce that it could with difficulty be borrowed at 10 per cent. For example, if the price of Consols be low, persons who are desirous of raising money will give a high rate of interest rather than sell stock. Again, an individual wants to borrow 100,000l. on Consols, but they happen to be in great demand, and the jobber may borrow on them at 2 per cent., and lend the very same money on another description of Government security at 5 per cent. The constant recurrence of these opportunities of turning capital is of course the life and soul of the Stock Exchange. drawn by merchants and tradesmen on mercantile | The directors of a railway company, whose receipts transactions. Bargains are made in the presence of a third party, and the terms are simply entered in a pocket-book; but they are checked next day, and the jobber's clerk (their clerks are members also of the house) pays or receives the money, and sees that the securities are correct. There are but three or four dealers in Exchequer Bills. and the greater number of these securities pass through their hands. The majority of the members of the Stock Exchange employ their capital in any way which offers the slightest chance of profit, and keep it in convertible securities, so that it can be changed from hand to hand almost at a moment's notice. The brokers are employed to execute the orders of bankers, merchants, capitalists, and private individuals; and the jobbers on Change are the parties with whom they deal. When the broker appears in the market, he is surrounded by the jobbers. One of the "cries" of the Stock Exchange is "Borrow money? borrow money?" a singular one to general apprehension; but it must be understood that the credit of the borrower must either be first-rate or his security of the most satisfactory nature; and that it is not the principal who goes into this market, but his broker. Have you money to lend to-day?" is a question asked with a nonchalance which would astonish the simple man who goes to a "friend" with such a question in his mouth. "Yes," may be the reply. "I want 10,000l. or 20,0007.” On what security?"-for that is the vital question; and that point being settled, the transaction goes on smoothly and quickly enough. Another mode of doing business is to conceal the object of the borrower or lender, who asks, "What are Exchequer?" The answer may be, "Forty to forty-two." That is, the party addressed will buy 1000l. at 40s., and sell 10004. at 42s. The jobbers cluster around the broker, who perhaps says, "I must have a price in 5000. If it suits them they will say, "Five with me, five with me, five with me," making fifteen; or they will say each, "Ten with me" and it is the broker's business to get these parties pledged to buy of him at 40, or to sell to him at 42, they not knowing whether he is a buyer or seller. The broker then declares his purpose, saying, for example, Gentlemen, I sell to you 20,000l. at 40;" and the sum is then apportioned among them. If the money were wanted only for a month, and the Exchequer market remained the same during that time, the buyer would have to give 42 in the market for what he sold at 40, being the difference between the buying and the selling price; besides which he would have to pay the broker 18. per cent. commission on the sale, and 1s. per cent. on the purchase again on the bills, which would make altogether 4s. per cent. If the object of the broker be to buy Consols, the jobber offers to buy his 20,000l. at 96, or to sell him that amount at 96, without being at all aware which he is engaging himself to do. The same person may not know on any particular day whether he will be a borrower or lender. If he has sold stock and has not repurchased, about one or two o'clock in the day he would be a lender of money; but if he has bought stock, and not sold, he would be a borrower. Immense sums are lent on condition of being recalled at the short notice of a few hours. These loans are often for so short a period, that the uninitiated, who have no other idea of borrowing than that which the old proverb supplies, that "He who goes a-borrowing goes a sorrowing," would wonder that any man should borrow 10,0007. or 20,0007. for a day, or at most a fortnight, and which is liable to be called for at the shortest notice. The facilities which the Stock Exchange affords for the easy flow of capital in any direction where profit is to be secured will explain the mystery. 66 The profit of the jobber, after he has concluded a bargain, depends upon the state of the market, which may be depressed by extensive sales, or by the competition of buyers. These jobbers are middle men, who are always ready either to buy or sell at a minute's notice, and hence a broker, in dealing for his principal, who wants to borrow money, has no need to hunt after another broker, who has money of another principal to lend, but each resorts to the jobber, who is both a borrower and lender. The following information as to the extent of the transactions of a firm of stockbrokers, or, perhaps, more properly speaking, of money-dealers, or, to use the technical phrase, nagers of balances," is official, and may be fully relied on:-" Our business, in addition to that of mere stockbrokers, extends to the dealing in money, that is, borrowing of bankers, capitalists, and others, their surplus or unemployed moneys, for the purpose of lending again at advanced rates, the difference of rate being our remuneration for the trouble and risk attendant thercon. By the general facility thus afforded, from our being almost always ready either to borrow or lend, we have become, as it were, a channel ma directly or indirectly for a great portion of the loans between Lombard-street and the Stock Exchange; and the magnitude of our money-dealings will be at once understood when I state that we have both had and made loans to upwards of 200,000l. at a time with one house; that the payments and receipts through our banking account on each side amount to eighteen or twenty millions per annum, but our loan transactions far exceed that sum, and extend to the vast amount of from thirty to forty millions a year. Our loans for the year ending October, 1841, exceeded thirty millions, being an average of three millions a month, or 100,000l. a day; and generally, upon four or five days in every month, the loans have amounted to 150, 2, 3, 4, 5, and even 700,0007. in a single day." HUDIBRA S.-No. II. 66 THE period from the accession of James I. to the deposition of James II. was one of progressive revolution in England, both in church and state. Elizabeth was the last of our monarchs who was able to exercise anything like arbitrary power, and while the legitimate influence of the middle classes was gradually but surely increasing, the pretensions to kingly power became under James I. and Charles I. the more extravagant, and the exercise of these powers even more absurdly vexatious and annoying than really oppressive. There was unquestionably a growing earnestness among the people in all matters connected with religion; instead of endeavouring to satisfy this feeling, and conduct it in a proper direction, James in the year 1617 published his famous Book of Sports, ordaining what pastimes ought to be used on Sundays, after evening prayers ended, and upon holidays," bear and bull baitings and bowls being the only sports interdicted, and these only upon such days. That this measure should have revolted many of the serious-minded, whether churchmen or dissenters, was what might naturally have been expected, but it was not till its re-issue by Charles, in 1633, that it developed all the injurious effects it had produced on the cause of royalty. During the interval it, of course, did not escape unattacked or undefended polemical disputes on this and many similar matters, such as stage-plays and dress, became vehicles for the bitterest personal invectives, and libels, such as those for which Prynne and others of his party were so severely punished, may well explain the irritated feelings of the time, "When hard words, jealousies, and fears, -words of a more important character than those of the feeble supposition of Dr. Grey, who imagines that Butler alluded to "the cant words used by Presbyterians and Sectaries of those times, such as Gospelwalking, Gospel-preaching, Soul-saving." &c.; nor does Butler imply, nor was it the case, that the " hard words" were all on the side of the Presbyterian party. Unfortunately, the "soft answer that turneth away wrath" was neglected alike by all. It was the issuing of this Book of Sports that produced or exaggerated the peculiarities of the non-conformists in opposing those customary observances alluded to in the account of Hudibras's religion, which is said to have been "Presbyterian true blue:" "A sect, whose chief devotion lies Compound for sins they are inclin'd to, As if they worshipp'd God for spite. In them, in other men all sin. And blaspheme custard thro' the nose." While such a contest was raging, it was inevitable that even good and wise men should differ as to the courses they would pursue. The enthusiastic would promote change in the hope of improvement; the cautious would resist it in the fear of injuring the good they possessed; the rash on both sides were for proceeding to extremities at all hazards; while the selfish and the timid, the knaves and the fools, followed the paths dictated by their interest, their fears, their hopes, or their prejudices. Hudibras and Ralph are ingenious compounds of the whole. Butler was a Conservative; and had probably always been so. He was not of those 'State Converts he has himself described, "that never left rebellion until it left him ;" and his having been a clerk to a Presbyterian justice by no means indicates that he had ever adopted his employer's principles or was guilty of any ingratitude in ridiculing them. He has done this most unsparingly, it is true, but in his Remains,' vol. ii, p. 470, Thoughts on various Subjects,' we have his more serious opinion, that "All reformations of religion seldom extend further than the mere opinions of men. The amendment of their lives and conversations are equally unregarded by all churches, how much soever they differ in doctrine and discipline. And though all the reformation our Saviour preached to the world was only repentance and amendment of life, without taking any notice at all of men's opinions and judgments; yet all the Christian churches take the contrary course, and believe religion more concerned in our erroneous opinions, than all the most inhuman and impious actions in the world." In Hudibras and Ralph he has delineated with inimitable wit and force the characteristic defects of the sectarian party-defects, however, from many of which his own side was not altogether exempt. For in stance "He was in logic a great critic, In mood and figure, he would do." Such acquirements were certainly not confined to Hudibras's party, nor even to his time. They were the treasures of the earlier schoolmen, inherited by the learned of all parties, and adopted alike by James himself, by the Abbots, by Bramhall the opponent of Hobbes, and others of the orthodox party. The litera |