I think the Bond system you mention, I have one in stash for a car, is a compromise on what Barry has said. It is a budget system so you have the expansion box, a cylinder, and it ends in a baffle. That is the part that creates the harmonic shock wave that is 'tuned'. It offers no silencing so a between that and the end cap/second baffle they put wading in to muffle the noise a bit. If it is the same unit the exit pipe is quite small and angled away from centre to allow the exhaust emission to be angled away from the rest of the car. I assume this system was used as a period motorcycle exhaust would have been to long. Many of these had a built shaped end cap. Silencing was by adjustable baffle of pierced pipe.
The Schmitt silencer which Ian and Russell tuned is a an adaption of the Sachs three chamber system. The important section is the first one which is why the tuned system has a graduated cone enlarging to the fist baffle. The gas slows/cools out. Hits the baffle sending a shock-wave back. This should be timed to aid extracting the next stroke, pulling in more charge as well as aiding more burned gas out. However in its travel back to the cylinder the cone speeds up the shockwave increasing its effectiveness. All this can be done using mathematical calculations but it is not easy.
Anyway the other two chambers take care of silencing. It gives the Schmitt its distinctive deng da deng sound. This remains on the tuned item but the efficiency when fitted correctly is marked.
Modern systems still use the shock-wave but the secondary set of chambers has become the stinger, which further increases efficiency in getting the gas out. Clearly the effort in exhausts is proportional to the state of tune of the engine. For Bubbles the basic is OK as the engines are plodders. In some cases the exhaust is in fact detrimental to the performance for the expedience of quietness. Goggo across the back single system for instance. Replaced on a 300cc by the earlier two box system the car is able to rev and is quicker and cruising speed rises from 60 MPH to 65 MPH (depending on your primary gear set).