James Carmichael Smith, the compiler of this collection, was born in the Bahamas where his father, originally from Yorkshire, had shipping interests. His mother was of French origin. After an education at Nassau Grammar School, Smith spent four and a half years at sea and may afterwards have taught in a New York School for a short period. On his return to Nassau he entered Government service and was appointed Chief Clerk and Storekeeper of the Imperial Treasury and (Military) Commissariat Departments in 1876. In 1882 he was elected a member of the House of Assembly for Western District, New Providence, a seat he held for seven years, and in 1884 he became a Life Fellow of the Royal Colonial Institute. From 1886-92 he was a member of the Board of Education and Postmaster from 1889-93.

In 1896 he took up the position of Assistant Postmaster in Sierra Leone. On the death of John Cleugh, a British Postal Officer, in 1900 he was appointed Postmaster General and Manager of the General Savings Bank and remained in these positions until his retirement in 1911. During this period he also acted as Collector of Customs (1902-03) and Colonial Treasurer (1906 and 1907). On his retirement he settled in Jersey but later moved to London where, during the First World War he worked in the Treasury and was associated with Lord Kindersley in the establishment of the War Savings (later National Savings) Movement. In the latter part of the war he served in the Ministry of Food. A keen student of economic affairs, he published five books and numerous pamphlets on these topics.