MONACO

1250

MONEY

and kindred subjects, making him famous as one of the greatest scholars of the age. His great work, The History of Rome (to B. C. 45), has passed through many editions, and been translated into French and English. It was supplemented by a history of the Roman provinces and by another on Roman constitutional law. Bryans and Hendy abridged it admirably for schoolboys. From 1873 to 1882 he was a member of the Prussian chamber of deputies, when he acted with the national Liberals. He died on Nov. 1, 1903.

Monaco (mŏn'-kō), a small principality on the Mediterranean, nine miles from Nice. It covers eight square miles, and consists of a rocky promontory, on which the city is built, and a small strip of coast. Here, within the petty state, is the great gambling town and casino of Monte Carlo (q. v.). It has belonged to the Grimaldi family for over 900 years. They have several times put their country under French protection, and in 1859 the whole region belonged for a short time to Victor Emmanuel. The owner at another time sold a part of his dominions, including Mentone, to Napoleon III for $200,-000. His capital is now under French protection. The climate is mild, and palms, a*oes and other southern plants abound. Population of the entire principality 15,180, the town of Monaco having 3,292 and Monte Carlo 3,794-

Monasteries, literally, are dwellings in ■which persons live alone. The name is usually applied to the homes of companies of monks; but is often extended to the dwellings of less rigid and ancient clerical orders than those of monks properly so called. The idea of the monastery developed out of the older idea of the sanctity of a religious life led in the solitude of the desert, which may be traced back to the cell of Paul, the first hermit (250 A, D.). Monasteries hare played a most important part in history, especially as centers for the transmission of learning and civilization. In such countries as Saxon England the monks not only taught Latin and the arts of the Romans, but improved methods of agriculture and modes of living. In the middle i.ges they took on themselves the function of schools, especially for children of gentle birth. They gained very extensive lands, which were exempt from the feudal dues. Their success in this direction made the monasteries an object of jealousy and cupidity to the nobles; and one finds their property in England confiscated under Henry VIII. Similar confiscations took place all over Europe in connection with the property of the Knights of the Temple. In gen ral, monasteries are classed as belonging either to monks, friars, military orders, regular canons or regular clerks. The most important order of monks was the Benedictines, who acted as the chief educative and mis-

sionary force in the medieval church, though in postreformation days they were surpassed in these respects by the famous order of Jesuits. Monasteries express an ascetic ideal of life which is not in harmony with modern thought ; and the recent attacks upon them in France are only the culmination of a movement which Included the suppression of the Tesuits and the blows struck at the religious orders by Joseph II of Austria. But the freedom allowed in America to religious orders has in. this country led to a rapid increase in the number of inmates of monasteries, of whom there are now said to be about 9,000 men and 50,000 women.

Monastir {mŏn-as-tēr'), also called Bi-tolia, the second city in Turkish Macedonia, is situated in a broad mountain valley, 90 miles northwest of Salonica. It manufactures carpets and silver filigree, and trades in corn and other farm products. The Turks have made it the head of an army corps, as it is an important military point. Its ancient Greek name was Pelagonia. The Albanian beys were massacred here in 1833. Population 45,000. Monastir also is a province in European Turkey; area 11,000 square miles; population 848,900.

Moncton (munk'tun), a city in New Brunswick. The Intercolonial Railway system is centralized here, and here, too, are its workshops. Population 9,000.

Mon'ey is the name given to those substances which are used to facilitate commercial exchanges and to serve as a measure of values. Nearly all metals have been so used at some time or by some nation, but gold and si'ver have been found the most con-veni°n and stable for general purposes. Among savage races beads, shells and even less valuable substances have been accepted as mom y, and among all civilized nations certificates of indebtedness have frequently taken its place. The value of money is, in a measure, fixed like other values by the law of supply and demand ; the supply being the amount in circulation at the time and in the community in question ; and the demand being +he amount of commercial transactions carried on for which money is needed. But into the 4 roblem so many other elements enter, that no simple theory can be made at anjr time to account for all the phenomena. The use of money raises commercial transactions from mere barter to a different and higher plane. If the world had no money, the would-be seller could only sell as he might find some one with a desire also to sell some article of his own, which the first at the same time desired to obtain. But by the use of money anything can be sold or anything can be bought, at any time, by persons having the money to facilitate the transactions. The supply of gold being limited and its uses manifold, it has always be^n hold at a much higher ratio of value than other metals, how much higher depending upon the