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… never occurs to them that the most trifling shifts in the real economic situation may reduce the value of stocks to nothing a tall. The history of finance has always been the history of more or less desperate efforts to hide these facts. And the drastic expedients adopted at the beginning of the war shew clearly enough in what delicate scales the business of the world is weighed.
…het being a great administrator. Here once more America is fortunate. this is probable the greatest crisis that has ever occurred in the history of the world; and infinitely wise, all-seeing nature has provided against catastrophe by combining these two rare faculties in a single brain.
… of a university; and taken up teaching as a profession, because they are incapable of learning. One has only to think of a subject like history to see how lop-sided conventional education always is. Even in more truly scientific subjects there is the same parochialism. Consider Sir William Hamilton and his doctrine of the quantification of the predicate,