[The various tables spread through this pamphlet are fully explained by
their headings and the text.]
In conclusion I wish to express my thanks for the courtesy M. Juglar
has extended me, and to state my appreciation of the motives,
painstaking patience, and undoubted originality he has shown in
explaining and executing so faithfully and with such genius a most
laborious and yet spirited work. It is only justice that such an
achievement should have been awarded a prize by the French Institute
(Academy of Moral and Political Sciences) and have gained for M. Juglar
the Vice-Presidency of the "Society for the Study of Political Economy."
DeCourcy W. Thom.
Wakefield Manor.
A HISTORY OF PANICS IN THE UNITED STATES
CONSIDERED WITH SPECIAL REFERENCE TO AMERICAN BANKS.
The English Colonies soon after their settlement issued paper money.
The first was Massachusetts, which issued it even before her
independence, in 1690, to obtain funds in order to besiege Quebec.
This example was followed to such an extent that it caused a marked
speculation in favor of hard money, varying according to the quantity of
notes in circulation.
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