To this tract another is appended, to which he gives the quaint title of ‹Maudit Argent!› in which he exposes the popular errors which arise from confounding capital with money, and money with inconvertible paper. In this little work, Bastiat of course could not treat the subject systematically and in detail, as M. Michel Chevalier has since done in his philosophical treatise ‹Sur la Monnaie›;[9] but Bastiat’s tract contains many excellent passages. The effect of an enlargement of the volume of currency on the value of money, for instance, is thus happily illustrated:— Ten men sat down to play a game, in which they agreed to stake 1000 francs. Each man was provided with ten counters—each counter representing ten francs. When the game was finished, each received as many times ten francs as he happened to have counters. One of the party, who was more of an arithmetician than a logician, remarked that he always found at the end of the game that he was richer in proportion as he had a greater number of counters, and asked the others if they had observed the same thing. What holds in my case, said he, must hold in yours, for what is true of each must be true of all. He proposed, therefore, that each should have double the former number of counters. No sooner said than done. Double the number of counters were distributed; but, when the party finally rose from play they found themselves no richer than before. The stake had not been increased, and fell to be proportionally divided. Each man, no doubt, had double the number of counters, but each counter, instead of being worth ten francs, was found to be worth only five; and it was at length discovered that what is true of each is ‹not› always true of all. The pamphlets, ‹Baccalauréat et Socialisme›, and ‹Ce qu’on voit et ce qu’on ne voit pas›, belong to the following year, 1850, the last [p024] of the author’s life. In the first of these, Bastiat complains of the monopoly of university degrees, and the too exclusive addiction of his countrymen to classical learning—especially Greek and Roman history—to which he attributes much of that democratic and revolutionary fervour which was ever and anon breaking out in France. The second, ‹Ce qu’on voit et ce qu’on ne voit pas›, is a masterpiece worthy of the author of the ‹Sophismes›, and well deserves its second title of “Political Economy in One Lesson.” The following extract from the first chapter of this admirable little work will give the reader some idea of the argument, and of Bastiat’s lively manner of treating a subject in itself so dry and uninviting:— «The Broken Pane.»