Speculations on the New York Stock Exchange September, 1904 - March, 1907 . ested, and the requirementof 20 per cent, margins will restrain undue eagernessto venture into the stock market. Possibly developmentshaving no internal connection with the Stock Exchangemay prevent any such tendency from manifesting itselfagain to the extent that it did in 1906. But if a generaldesire to speculate blindly on the New York Stock Ex-change again seizes a numerous class in the community,the organization of that market and the conduct of its 172 SPECULATION ON NEW YORK STOCK EXCHANGE [iy2 routine, as they
Speculations on the New York Stock Exchange September, 1904 - March, 1907 . ested, and the requirementof 20 per cent, margins will restrain undue eagernessto venture into the stock market. Possibly developmentshaving no internal connection with the Stock Exchangemay prevent any such tendency from manifesting itselfagain to the extent that it did in 1906. But if a generaldesire to speculate blindly on the New York Stock Ex-change again seizes a numerous class in the community,the organization of that market and the conduct of its 172 SPECULATION ON NEW YORK STOCK EXCHANGE [iy2 routine, as they stand at present, will play little part incorrecting or restraining the mischievous fulfilment of thatdesire. Measures such as those that have been suggested,and possibly some others, should make the New York StockExchange an efficient agency in directing the flow ofcapital into investment ; and prices registered in the courseof operations carried out by spectilators having some knowl-edge of their ultimate market, might very possibly serve to discount future
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