New volumes of the Encyclopædia Britannica > Volume 30, K-MOR

544 MARKET HARBOROUGH—MARLBOROUGH
tion from the ]3ank more frequently than usual. The
small brokers almost always have to borrow from the
Bank at the end of every quarter, when money is scarce
owing to the regular quarterly requirements of business,
and also, to some extent, because certain of the banks
make it a practice to call in loans at the end of each
month in order to show a satisfactory cash reserve in their
monthly balance-sheet. This practice is not approved by
the best authorities, for although it does no great harm
in quiet times, the banks who follow it might find it
difficult, or even impossible, to call in their loans in times
of severe stringency.
Authorities.—Walter Bagehot. Lombard Street. Kegan
Paul, Trench and Co.—Arthur Ellis. Rationale of Market Fluc¬
tuations. Effingham Wilson.—Robert Giffen. Stock Exchange
Securities. George Bell and Sons, 1879.—W. Stanley Jevons.
Theory of Political Economy, 2nd edition, 1879, pp. 91 s^.
Macmillan; Investigations in Currency and Finance, various
passages. Macmillan. — Henry Sidgwick. Principles of
Political Economy, book ii. chap. ii. Macmillan.—Augustin
Cournot. Theory of Wealth (1838), translated by Nathaniel T.
Bacon. Macmillan, London and New York.—Georoe Clare.
A Money Market Primer and Key to the Exchanges. Effingham
Wilson.—John Stuart Mill. Principles of Political Economy,
book iii. chaps, i.-vi. (w. Ho.)
Market Harborough, a manufacturing and
market-town and parish in the Harborough parliamentary
division of Leicestershire, England, 14 miles south-east of
Leicester by rail, traversed by the Grand Union Canal.
There are malt-houses and boot, shoe, and stay factories.
The town is also an important hunting centre. Population
of urban district (Market Harborough with Great and Little
Bowden) (1891), 5876; (1901), 7735.
Markham, Sir Clements Robert (1830-
), English traveller, geographer, and author, son of
the late Bev. David F. Markham, canon of Windsor, and
of Catherine, daughter of Sir W. Milner, Bart., of Nun-
appleton, Yorkshire, was born on 20th July 1830 at
Stillingfleet, near York, and educated at Westminster
School. He entered the navy in 1844, and was appointed
naval cadet on board H.M.S. Gollingwood. He served
under Sir George Seymour on the Pacific station, became
midshipman in 1846, and passed for a lieutenant in 1851. In
1850-51 he served on the Franklin search expedition in
the Arctic regions, under Captain Austin. He retired from
the navy in 1852, and in 1852-54 travelled in Peru and
the forests of the eastern Andes. He visited South America
again in 1860-61, in order to arrange for the introduction
of the cinchona plant into India, a service of the highest
value to humanity. In 1865-66 he visited Ceylon and
India, in order to inspect and report upon the Tinnevelly
pearl-fishery and the cinchona plantations. On the
Abyssinian expedition of 1867-68 he served as geo¬
grapher, and was present at the storming of Magdala.
In 1874 he accompanied the Arctic expedition under
Sir George Nares as far as Greenland. In later years
Sir Clements Markham travelled extensively over Europe,
and also in western Asia and the United States. He
also held various official and honorary positions at
home. In 1855 he became a clerk in the Board of Con¬
trol. From 1862-64 he was private secretary to Mr T.
G. Baring, afterwards the earl of Northbrook. From
1867-77 he was in charge of the geographical department
of the India Office. He was secretary to the Hakluyt
Society from 1858-87, and became its president in 1890.
From 1863-88 he acted as secretary to the Boyal Geo¬
graphical Society, and on his retirement received the
society’s gold medal for his distinguished services to
geography. He was elected president of the same society
in 1893, and took an active share in the work of the
society and in increasing its usefulness in various direc¬
tions. It was almost entirely due to his unwearied exertions,
extending over several years, that the funds were obtained
for the National Antarctic Expedition under Captain
Bobert Scott, which left England in the summer of 1901.
He was president of the International Geographical Con¬
gress which met in London in 1895. Sir Clements Mark¬
ham conducted the Geographical Magazine from 1872-78,
when it became merged in the Proceedings of the Royal
Geographical Society. Among his other publications may
be mentioned the following: Franklin's Footsteps, 1852;
Cuzco and Lima, 1856 ; Travels in Peru and India, 1862 ;
A Quichua Grammar and Dictionary, 1863 ; Spanish Ir¬
rigation, 1867 ; A History of the Abyssinian Expedition,
1869 ; A Life of the Great Lord Fairfax, 1870 ; Ollanta,
a Quichua Drama, 1871 ; Memoir on the Indian Surveys,
1871 (2nd ed. 1878); General Sketch of the History of
Persia, 1873; The Threshold of the Unknown Region,
1874 (4 editions) ; A Memoir of the Countess of Chinchon,
1875; Missions to Thibet, 1877 (2nd ed. 1879); Memoir
of the Indian Surveys; Peruvian Bark, 1880; Peru, 1880;
The War between Chili and Peru, 1879-81 (3rd ed. 1883);
The Sea Fathers, 1885; The Fighting Veres, 1888;
Paladins of King Edwin, 1896 ; Life of John Davis the
Navigator, 1889 ; also lives of Admiral Fairfax, Admiral
John Markham, Columbus, and Major Rennell; a History
of Peru ; editions with introductions of twenty works for the
Hakluyt Society, of which fourteen were also translations;
sixty-seven papers in the Boyal Geographical Society’s
Journal ; the Reports on the Moral and Material Progress
of India for 1871-72 and 1872-73; Memoir of Sir John
Harington for the Boxburghe Club, 1880; the Peruvian
chapters for Winsor’s History of America, and the chapters
on discovery and surveying for Clowes’s History of the Navy.
Sir Clements Markham was elected a Fellow of the Boyal
Society in 1873, and became an honorary member of
the principal geographical societies; he was created C.B.
in 1871, and K.C.B. in 1896; in 1874 he was created a
Commander of the Portuguese Order of Christ, and a
Chevalier of the Brazilian Order of the Bose; in 1898,
Commander (first-class) of the Swedish Order of the IN orth
Star.
Marlboro, a city of Middlesex county, Massachu¬
setts, U.S.A., in the central part of the state, with an
area of about 22 square miles, diversified with hills and
ponds, and traversed by the Fitchburg, and the New
York, New Haven, and Hartford railways. In 1900 there
were 142 manufacturing establishments, with a capital of
$2,191,860, an average number of 2780 hands, and pro¬
ducts valued at $4,986,399. The chief industry is the
manufacture of boots and shoes. Marlboro was formerly a
town, but was chartered as a city in 1890. Population
(1890), 13,805: (1900), 13,609, of whom 3311 were
foreign-born.
Marlborough, a municipal borough and market
town in the Devizes parliamentary division (since 1885)
of Wiltshire, England, 11 miles south by east of Swindon
by rail. Marlborough College is now divided into three
schools, the upper, modern, and lower. In the upper
a classical education, preparatory for the universities, is
mainly given; in the modern, mathematics, science, and
modern languages are specially taught, and there are
separate classes for army and navy pupils. Foundation
scholarships preserve the original purpose of the school
that it should be for the education of the sons of clergy¬
men. Several important additions have been made to the
school buildings, including a museum (1883), a handsome
chapel (1886), north classrooms (1893), and a memorial
reading-room (1900). In 1901 the number of scholars
) was 600. Population (1891), 3012; (1901), 3046.