A COLLECTION OF ESSAYS RESPECTING CERTAIN OF THE RECENT

ECONOMIC EXPERIENCES OF THE UNITED STATES

BY

DAVID A. WELLS, LL.D., D.C.L.

MEMBRE CORRESPONDANT DE L'INSTITUT DE FRANCE, CORRESPONDENTE DELLA REALE ACCADEMIA
DE LINCEI, ITALIE, ETC.

"Experience keeps a dear school; but fools will learn in no other, and scarce in
that; for it is true we may give advice, but we cannot give conduct.-BENJAMIN
FRANKLIN.

COPYRIGHT BY

G. P. PUTNAM'S SONS

1885

43292

Press of
G. P. PUTNAM'S SONS

New York

ΤΟ

THE HON. HUGH MCCULLOCH

AS A TESTIMONIAL TO HIS HIGH STATESMANSHIP AND UNQUESTIONED INTEGRITY SECRETARY OF THE TREASURY OF THE

IN SUCCESSFULLY DEALING, AS

UNITED STATES, WITH SOME OF THE MOST DIFFICULT FINANCIAL

PROBLEMS THAT HAVE EVER BEEN PRESENTED TO A FINANCE

MINISTER, AND AS A MEMENTO OF A FRIENDSHIP

THAT YEARS OF OFFICIAL AND PRIVATE

INTERCOURSE HAVE CREATED

AND STRENGTHENED

THIS VOLUME

Is respectfully Dedicated by the Author