FOOTNOTES [1] Principles of the Economic Philosophy of Society, Government and Industry, by Van Buren Denslow, LL.D., New York, 1888, p. 99. [2] _Ibid._, p. 107. [3] _Ibid._, p. 101. Consult also “Theory of Political Economy,” by W. S. Jevons, p. 92, and “A History of Prices,” by Thomas Tooke, Part II, p. 46. [4] Consult Report of the New York State Food Investigating Commission, September, 1912. [5] A detailed account of this incident was published in _Country Life in America_, July 1, 1912, from the pen of Graham F. Blandy, the producer. [6] Bourses or Exchanges, as we know them to-day, undoubtedly owe their origin to the Jews. M. Vidal’s scholarly work explains that the persecutions which those untiring and courageous merchants experienced in Spain after the expulsion of the Moors caused them to emigrate to Holland, where the market-place was called _Change_ (Exchange) and where in later years there was to be established, as a result of their labors, the famous Bank of Amsterdam, which was for a century the foremost institution of its kind in the world. The modern use of the word Change or Exchange is thus plainly traced. The word Bourse originated at Bruges, where, according to one authority, merchants gathered at the house of one of their number known as van der Burse. Other historians state that the word originated from the three purses (bourses) carved on the gable of the house in which the meetings were held. [7] Charles A. Conant, “The World’s Wealth in Negotiable Securities,” _Atlantic Monthly_, January, 1908, estimated the total American securities as of 1905, at $34,514,351,382. Since that time there has been added to the securities listed on the New York Stock Exchange alone, a total averaging about one billion dollars per annum. The total given above is, therefore, a conservative one, since I have added to Mr. Conant’s 1905 estimate only Stock Exchange additions, and have taken no account of the millions added by small corporations. [8] “The Stock Exchange and the Money Market,” “Annals of the American Academy of Political and Social Science,” Vol. XXXVI, No. 3, November, 1910, p. 567.