INTRODUCTION. xi 



given, though they are necessarily few and unimportant 

 compared with Bank stock. In spite of the low rate of 

 interest the stock is frequently above par during the 

 earlier years of its existence, and for some time after the 

 consolidation. The causes of its fall in subsequent 

 years are probably the increased trade of the country 

 and the greater opportunities for investment in other 

 directions. 



Lest there should be any misunderstanding about the 

 method adopted in printing these quotations it is as 

 well to explain that for each date the full price of the 

 stock is given, but where a second or third price occurs 

 on the same day abbreviations are used. The last unit 

 of the quotation is repeated if a fraction has to be added 

 to a single figure, so that 90 o| stands for 90 90^. But 

 if the first price contains a fraction the last unit is not 

 repeated unless the fraction is to be omitted, so that 

 9oJ ^ stands for 90^ 90^, and 90^ o stands for 9o| 90. 

 Again if the change in the figure affects the decimal, 

 the last two figures are given, so that 179 80 stands 

 for 179 1 80. If the centuple is changed the whole 

 quotation is given. A good example of this is to be 

 found under May 2, 1720, of the South Sea stock, where 

 430, 10, 30, 5, 40, 50, 60, 50, 40, 25, o, 5, stands for 430, 

 410, 430, 435, 440, 450, 460, 450, 440, 425, 420, 425. 

 All the quotations of the South Sea stock were collected 

 by my father. Of the others, Bank stock down to 

 May 6, 1766, East India stock to May 14, 1766, and 

 three per cents, to May 8, 1 766, are by the same hand. 

 For the subsequent quotations I am responsible. From 

 which newspapers all the former prices are taken I am 

 unable to say, but on the manuscript table of the prices 

 of Bank stock there is a pencil note in my father's hand- 



