tailieunhanh - A BRIEF HISTORY OF PANICS AND THEIR PERIODICAL OCCURRENCE IN THE UNITED STATES

Tonight at "Blakeford," I set down this dedication of the third edition of this book which has proved to be the pleasant companion of two visitations--one at "Wakefield Manor," Rappahannock County, Virginia, in 1891, the other at my old home "Blakeford," Queen Anne's County, Maryland, in 1915. The memories that entwine it there, and here mingle in perfect keeping and have made of a dry study something that stirs anew within me as I consider the work accomplished, my love and remembrance of the old days, and my love and unforgettingness of these other golden days under whose spell. | A BRIEF HISTORY OF PANICS AND THEIR PERIODICAL OCCURRENCE IN THE UNITED STATES BY CLEMENT JUGLAR MEMBER OF THE INSTITUTE VICE-PRESIDENT OF LA SOCIETE D ECONOMIE POLITIQUE THIRD EDITION TRANSLATED AND EDITED WITH AN INTRODUCTION AND BROUGHT DOWN FROM 1889 TO DATE BY DECOURCY W. THOM FORMER MEMBER OF THE BALTIMORE STOCK EXCHANGE AND OF THE CONSOLIDATED EXCHANGE OF NEW YORK TO GOLDEN DAYS Tonight at Blakeford I set down this dedication of the third edition of this book which has proved to be the pleasant companion of two visitations--one at Wakefield Manor Rappahannock County Virginia in 1891 the other at my old home Blakeford Queen Anne s County Maryland in 1915. The memories that entwine it there and here mingle in perfect keeping and have made of a dry study something that stirs anew within me as I consider the work accomplished my love and remembrance of the old days and my love and unforgettingness of these other golden days under whose spell I have brought the book up to the present year. DECOURCY W. THOM. BLAKEFORD October 10 1915. PREFACE TO THIRD EDITION The second edition of this study of _Panics in the United States_ brought us through the year 1891. I originated about one fourth of it. This third edition brings us practically up to date. Of this edition I originated about one half. I hope it will prove helpful in many ways. I trust that it will force an appreciable number of men to realize that business or financial panic is not merely fear as some have asserted but is based upon the knowledge that constriction oppression unhappy and radical change in this that or the other kind of business must tend to drag down many others successively just as a whole line of bricks standing on end and a few inches apart will fall if an end one is toppled upon its next neighbor. Indeed the major cause of business or financial panic is just reasoning upon existing conditions rather than a foolish fear of them. Over-trading and loss of nerve constitute the medium. Recent .