The last chapter in Mr. Crump’s book, entitled “Outside Criticism on the Causes of Disturbance in the Money Market,” has been omitted in this edition, as it relates simply to questions about the policy of the Bank of England in regard to regulating the discount rate, and a controversy and correspondence on this point between Mr. Crump and Mr. Bonamy Price. As this whole question is of no practical value or interest to the American reader, I thought it expedient to omit the whole matter. H. W. R. CONTENTS. PAGE CHAPTER I. _Technical Terms Explained._ 1. Jobbers and Brokers 19 2. The Bull 19 3. The Bear 19 4. Contango 20 5. Backwardation 24 6. Options 26 7. The “Put and Call” Option 26 8. The “Put” Option 26 9. The “Call” Option 26 10. The Fortnightly Settlement 27 11. Speculation by Members of the House 28 CHAPTER II. _The Importance of Special Knowledge regarding the Regularly Recurring Causes that influence the Markets._ 1. The Temper of the Public 32 2. Meteorological Influences 32 3. A Favorable Period of the Year 35 4. Causes affecting the Value of English Railway Stocks 36 5. The Course to pursue at the Turn of the Half-year 36 6. Second Half of the Year more favorable for Bear Operations 37 7. Activity among Buyers 39 8. The Bull Speculator’s Great Chance 39 9. The great importance of being now and again altogether Clear of the Markets 40 10. The Movement of Prices near the Settlements 41 CHAPTER III. _The Right Temperament for a Professional Speculator._ 1. Cool-headedness an indispensable Condition of Success 43 2. The Uselessness of Haphazard Speculation 45 3. Accurate Foresight 45