Excerpt from Speculation on the Stock and Produce Exchanges of the United States The sixth chapter of this essay attempts to consider the evils of speculation, so far as to describe their nature and to point out what forms are of chief importance. There are many points which are passed over with the most meagre reference. So important a question, for example, as the relation of speculation to crises is little considered; but it is believed that enough has been said to show that the ad vantages of speculation presented are not the advantages merely of an idealized Speculation, but are genuine and practical advantages of speculation to-day, however much off-set by corresponding evils. Some books are devoted purely to the harmful influence of speculation, ' some more exclusively to its benefits. Neither the one nor the other can make any claim to furnishing a ground of ultimate judgment on the; system as a whole. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.