INTRODUCTION. 
41 
The stock in trade was then £610,000; giving an 
increase of 174 per cent.: and the profit balance 
£426,000, showing an increase of 267 per cent. 
The remark of the Chief Registrar (b) on the 
comparison of the returns of 1877 and 1878 is 
equally forcible when the comparison is carried 
nine years further back:—“These figures are 
eloquent as to the confidence which Co-operative 
Societies inspire, and apparently deserve.'” 
77. With regard to societies and branches 
registered under the Friendly Societies Acts, 
12,300 returns were received for the year 1878, 
showing 4,692,175 members and £12,148,609 
funds. The progressive increase in the number 
of annual returns received is evidence of the 
excellent working of the Act of 1875. The 
circumstance that the return is to be made 
in a form prescribed by the Chief Registrar, and 
is not merely a copy of the society’s annual 
report (as was the case under previous Acts) adds 
to the usefulness and completeness of the infor 
mation obtained. It renders impracticable, how 
ever, any comparison between these statistics and 
those of ten years ago, such as that just made 
with regard to Industrial and Provident Societies. 
78. When to these twelve millions sterling 
belonging to members of Friendly Societies and 
the six millions to members of Industrial and 
Provident Societies are added the seventy-nine 
millions invested in Post Office and Trustee 
Savings Banks, the thirty-one millions belonging 
(/;) Beport, p. 23.