Dec

9

 A movement of resonance from Stocks and Shares by Hartley Withers, 1910, qualifies as good to go at more than 100 years old. I just read it and it's as fresh as a daisy with such startling resonance as this relating to the moves after recent Federal Reserve changes:

A volatile excitable public acting in a narrow market will exercise an astonishing influence on price. Perhaps the most notable example in history is the rise of thirty points in the French Funds in one morning in 1789, when the confidence inspired ty the appointment of Necker as Finance Minister made folk think that France was going to be solvent and well governed." Lecky, England in the Eighteenth Century, Vol 6. But the public is sometimes quite sagacious. Hannibal had led an unconquerable host to the gates and walls of Rome: "The piece of land on which he was encamped happened to come up for sale, and it changed hands at the normal figure. With astonishing serenity the Roman public thought that Hannibal was not a factor in the positions, and its serenity proved right." Livy, vol 26.


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