MONEY & BANKING: Silver Speculation

We've trod the maze of error round, Long wandering in the winding glade; And now the torch of truth is found, It only shows us where we strayed.

With this quotation from George Crabbe, Economist Dickson H. Leavens prefaces a chapter of "summary and conclusions" in Silver Money, a comprehensive book published last week.* A white-fringed Yaleman of 52, Author Leavens first got interested in silver when he was teaching in Changsha, China, found that his paycheck fluctuated constantly. Today an acknowledged authority, he is employed by the Cowles Commission for Research in Economics, a Colorado Springs nonprofit organization...

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