Publisher's Synopsis
Excerpt from Bank Loans and Stock Exchange Speculation
This sequence, as often as it has been stated, has not been really accepted by the public mind. T here has been much more disposition to invert the relation and to hold speculative manipulation responsible for monetary strain. T o the extent that blind prejudice and willful ignorance figure here, nothing in the way of enlightenment is pos sible. But some considerable part of the prevailing senti ment is not to be so dismissed and proceeds from valid doubt. It is this condition which invites an attempt to supplement the general terms in Which the argument has heretofore been phrased With a more detailed account of the relation of credit and speculation.
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