It is interesting to note that panics have continued to appear about as regularly as usual, but less crushingly, since 1890, the date up to which the first and second editions of this book had traced them. Remedial or partially preventive measures have been more and more utilized by the financial powers to control them. Never will panics cease so long as trade and fear are exemplified on this earth, but just as modern medicine is overcoming the dangers threatening the physical man, so is modern finance overcoming panic and the other dangers which threaten financial stability. After all, reserve power and only a rational use of financial resources are the surest preventive of panic. And that the American people have not been forced through entrance into the "World War" to deplete their reserve strength, especially in a financial way, is due to the splendid conduct of our great President. He is leading this country to unexampled prosperity. Instead of consenting that old abuses in the business world should continue until an over-indignant public had grown riotously injurious, he has guided the current of their wrath, initiated or promulgated the methods for redressing their grievances, and has saved to the country, to its people, and to general business itself, the splendid and full service of business enterprise freed from the abuses and handicaps that unregulated conditions had forced it to employ in the unrestrained struggles of the open mart. DECOURCY W. THOM. End of Project Gutenberg's A Brief History of Panics, by Clement Juglar