Exchange is of course the most fruitful ground for any theorist and provides the most interesting story of all; so far as one can see from a first perusal of a book of this nature, exchange represents man's efforts to overcome the various risks incidental to the carrying on of trade in all quarters of the globe, despite the efforts of highway robbers, pirates, warlords and all those who might [interfere ith the transport of precious metals representing the price of goods—and so it is not too farfetched a theory to intimate that paper money (or, indeed, any paper transaction which can avoid the transportation of anything worth stealing) was really invented by the alleged creator of all evil. Such 1s, in fact, the gist of Mr. Spalding's story,
Text read from the printed page and cleaned; old type leaves the occasional error.