FALLACIES OF CONFUSION. 387 



meant. The consequence of this ambiguity is, that as soon as 

 scarcity of money in the latter of these senses begins to be 

 felt, as soon as there is difficulty of obtaining loans, and the 

 rate of interest is high, it is concluded that this must arise 

 from causes acting upon the quantity of money in the other 

 and more popular sense; that the circulating medium must 

 have diminished in quantity, or ought to be increased. I am 

 aware that, independently of the double meaning of the term, 

 there are in facts themselves some peculiarities, giving an 

 apparent support to this error; but the ambiguity of the 

 language stands on the very threshold of the subject, and 

 intercepts all attempts to throw light upon it 



Another ambiguous expression which continually meets 

 us in the political controversies of the present time, especially 

 in those which relate to organic changes, is the phrase " in- 

 fluence of property :" which is sometimes used for the influence 

 of respect for superior intelligence, or gratitude for the kind 

 offices which persons of large property have it so much in 

 their power to bestow; at other times for the influence of 

 fear ; fear of the worst sort of power, which large property 

 also gives to its possessor, the power of doing mischief to de- 

 pendents. To confound these two, is the standing fallacy 

 of ambiguity brought against those who seek to purify the 

 electoral system from corruption and intimidation. Persuasive 

 influence, acting through the conscience of the voter, and 

 carrying his heart and mind with it, is beneficial therefore (it 

 is pretended) coercive influence, which compels him to forget 

 that he is a moral agent, or to act in opposition to his moral 

 convictions, ought not to be placed under restraint. 



Another word which is often turned into an instrument of 

 the fallacy of ambiguity, is Theory. In its most proper accep- 

 tation, theory means the completed result of philosophical 

 induction from experience. In that sense, there are erroneous 

 as well as true theories, for induction may be incorrectly per- 

 formed, but theory of some sort is the necessary result of 

 knowing anything of a subject, and having put one's know- 

 ledge into the form of general propositions for the guidance of 

 practice. In this, the proper sense of the word, Theory is the 



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