Wednesday, June 26, 2013

The Case for Capitalism by Hartley Withers

Status: One Round of QC (06.26.2013)


Fix Notes:

Page 250: par. 1: short-sighted

Besides their shortsighted attitude to those who work for them, capitalists have done much to undermine their own position in the eyes of detached observers by the use that they have made of the wealth that they have gained.

Tuesday, June 25, 2013

Monday, June 24, 2013

Speeches, Arguments, Addresses, and Letters of Clement L. Vallandigham by Clement L. Vallandigham

Status: One Round of QC (06.24.2013)


Tom DiLorenzo was promoting this book over the past few weeks. Example here:

I found out this book is in the Public Domain. No EPUB/MOBI edition exists on the internet, and all that is available for sale on Amazon are physical reprints.

I based this EPUB off of this PDF scan:

I also spotted a slightly different PDF on Google Books, this helped with some scanning artifacts:

Fix Notes:

Page 12: par. 2: political

His first effort at extempore speaking was in a politicial debate at Calcutta, in his native county; where he spoke for an hour with such success, that his Democratic friends bore him off in triumph upon their shoulders.

Page 13: very bottom of page: political

2. To avoid, with persevering resolution, all connection or mingling with the petty factions or personal jealousies and quarrels of politicial friends; and of [...]

Page 51: end of par. 2: justified

But he knew them to be well founded, and events since have more than justifed him:

Page 59: right after chapter break: permitted

From Mr. Vallandigham’s private note-book we are permittted to copy the following, dated in August, 1843.

Page 118: near middle of page: renowned

In April, 1776, the American Congress resolved against the importation of any more slaves. But England continued the traffic, with all its accumulated horrors, till 1808; for so deeply had it struck its roots into the commercial interests of that country, that not all the efforts of an organized and powerful society, not the influence of her ministers, not the eloquence of all her most renowed orators, availed to strike it down for more than forty years after this, its earliest interdiction in any country, by a rebel congress.

Page 123: par. 1: vortex

The Whig party, bargaining with, courting, and seeking to absorb it into its own ranks, has, itself at last, been swallowed up and lost. Political Temperance and Know-Nothingism are rapidly drifting into the same voxtex.

Page 135: par. 1: point

Up to that piont, they were acting plainly “in pursuance of a law of the United States, and the process of a judge thereof.”

Page 153: par. 1 (about 2/3 of the way down page): nevertheless

Upon pretexts and by appeals and seditious declarations such as these are, the people, or a part of the people, I trust a very small part, but enough, nevertheleless, to do, or to threaten, great mischief—have been stirred up to the madness and folly of setting themselves in array against the Government of the United States, and under the color and forms of State statutes and State process, of resisting the execution of its laws and the process of its courts, and thus of precipitating upon us the crisis which wicked and designing men have so long labored to bring about.

Page 163: end of par .3: Missing left parenthesis (to match the rest of the quotes on that page)

Lord Eldon, 13 Vesey, 514.)

Page 166: par. 2: improbability

“The extreme improbabiity of their falsehood.”

Page 166: par. 2: freedom

“It is true,” he adds, “that the ordinary and highest tests of the fidelity, accuracy and completeness of judicial evidence are here wanting; but their place is in some measure supplied by the circumstances of the declarant; and the inconveniencies resulting from the exclusion of the evidence having such guaranties for its accuracy in fact, and for its freedem from fraud, are deemed much greater, in general, than any which would probably be experienced from its admission.”

Page 167: par. 4: Missing right single quotes before second year (to match the rest of the book)

I refer especially to Easton vs. Scott, 1816, Cont. Elects., 272, 276; the Broad Seal case, 1840; Farlee vs. Runk, 1845-46; Monroe vs. Jackson, 1847—48; and the case of H. R. Kneas, district attorney, whose election was contested in 1851, on behalf of William, B. Reed, in one of the judicial courts of Philadelphia.

Page 212: par. 1: forlorn

You were only put forward to be killed off; you were merely detailed as a follorn hope, to be shot down in front of that Malakoff which you never will capture.

Page 213: end of par. 0: condemn

Pardon me, but I despise and contemn your vassalage to the North as much as you can contemn and despise any man’s servility to the South.

Page 214: about 3/4 of the way down the page: always

Sir, I listened the other day, as I alway listen, with very great pleasure, to the genial and gushing eloquence from the lips of that gentleman, touched, as they are, as with a live coal from the altar of oratory.

Page 214: end of page: leader

Pardon me—he is not only not a eader, but not even a respectful follower of the Republican party in [...]

Page 231: par. 1 (quote): themselves

“These considerations render it important that we should at every session continue to amend the defects which from time to time show themselses in the laws for regulating the militia, until they are sufficiently perfect.

Page 372-375: At the end of each blockquote: Missing right single quotes before second year (to match the rest of the book)

Page 372: End of third blockquote: Should end in "’62" to match the rest of the book.

“What they will be when that great day shall arrive—if it shall ever arrive— when our eyes shall be gladdened with the sight of the Army in motion, I do not know.”—Congressional Globe, 1861-2, vol. 2, p. 299.

Page 376: par. 1: Missing right single quote before second year

I pass next to the “ appropriations.” What further deficiencies are to come in, or are now pending, I know not; but the amount of appropriations already made by Congress for the fiscal year ending today (June 30th), is $608,126,496; and for the coming fiscal year, 1862-63, the appropriations provided for in bills now between the two Houses, [...]

Page 417: end of chapter: missing period right before '*'

Page 426: par. 3: withholding

I go further, and regard the witholding supplies, with a view of forcing the country into a dishonorable peace, as not only to be what it has been called, moral treason, but very little short of actual treason itself.”

Page 451: par. 1: withholding

And now, sir, whatever may have been the motives of England, France, and the other great powers of Europe, in witholding recognition so long from the Confederate States, the South and the North are both indebted to them for an immense public service.

Page 454: The first "Mr." right in the beginning of chapter should be smallcaps to match the rest of the book (first words of every chapter are smallcaps).

Page 479: par. 1: Vallandigham

Luke F. Cozans, President of the Association, in a few remarks introduced the orator of the evening, Hon. C. L. Vallandingham, who on rising was received with loud and protracted cheers. When silence was restored he spoke as follows:

Page 535: par 2. under "The Benevolent institutions...": Vallandigham

“The youngest Democratic member in the House, Mr. Valllandigham, made his debut today, on a resolution to print documents. It was a brilliant effort, and produced an electric effect upon the House. He is a splendid young man.”


Page 45 needs new scan. I marked page 45 with @@@ just to make sure I double check it when I get the scan.

Middle of page 67, there is a spot that is missing a word. (Marked with @@@)

I am not too sure about * * * * until the end of line. Does this mean the next line is still a part of the same paragraph? (See page 164 for one example). There are a few others where the * * * * do not reach the end of line.

Not too sure about the $ numbers in the table on page 383 (This also happens throughout the book). Was this an old style of doing things, with a space instead of a period between the dollars and cents? This happened 44 times total in the book (I have marked forced an   between them).

Monday, June 17, 2013

Outline of International Price Theories by Chi-Yuen Wu

Status: One Round of QC (06.18.2013)


ISBN: 978-1-61016-045-2
eISBN: 978-1-61016-619-5

Fix Notes:

Page 1: first par. in subchapter 2: technological

[...] (3) the price relations of goods of identical tenchnological composition among trading countries ; [...]

Page 84: Footnote 3: "Andreades" -> Andréadès

Page 101: par. 3: period

Addington's statement, whatever might be its merits or demerits, represented the view of the Government and of business circles during the peroid.

Page 109: par. 0: Wheatley

Wheatly himself explicitly recognized that his doctrine differed from that of Hume,1 and tried to defend his own position by attempting to refute the latter’s doctrine.

Page 119: par. 2: international

Ricardo seemed to have found it necessary to concede that a subsidy payment might affect the rate of exchange and internatioanl price relationships.

Page 140: Footnote 2: Friedrich

Tooke, Inquiry, p. 123. See also pp. 67-76. The best exponents of the income theory of the value of money are Freidrich von Wieser, R. G. Hawtrey, and Albert Aftalion.

Page 150: par. 1: vigorously

It was very ably stated by Senior and vigoriously expounded by Mill, who modified it.

Page 162: par. 0: substitution-curve

We can derive the conditions of substitution between the two commodities and express them in the form of a sub-sitution-curve, when many different factors of production are available just as well as when there is only homogeneous labour.

Page 223: par. 0: necessary

It was necesssary to keep in mind, however, that “the influence of credit or the rate of interest is only one of the factors acting on prices; the other is the volume of metallic money itself, [...]

Page 227: par. 3: themselves

Nor did Wicksell accept uncritically Mill’s doctrine, namely that prices would tend to stand highest “in the countries for whose exports there is the greatest foreign demand, and which have themsleves the least demand for foreign commodities Wicksell made the following comment:—

Page 253: par. 0: recognized

[...] he recognzied that the actual rate of exchange may permanently deviate from the purchasing power parity, because of obstacles to trade.

Page 283: par. 3: right double quote right before Footnote 3 in the text

“Nevertheless,” he said, “even with this correction, Taussig’s argument still holds that without gold movements and changes in price levels there is no visible mechanism whereby increased purchases by the borrowers of foreign commodities, and of those domestic commodities which otherwise would be exported, will exactly equal the amount of the borrowings.’3

Page 295: Footnote 2: classical

We must also take into consideration of the influence of the shift of the demand curves (to the right in the borrowing country, to the left in the lending country) which brings about a much quicker adjustment of the balance of international payments than the mechanism described in the clasical doctrine.

Page 296: par. 1 (first line of page): Pigou

Similar conclusions have been reached by Professor Pegou.1

Page 323: "Boisquilbert" -> Boisguilbert

Page 324: Gresham

Burgon, J. W. Life and Time of Sir Thomas Greshams. London, 1839.

Page 328: "Serra, Antanio" -> "Serra, Antonio"


Page 180 same as earlier image/formula on page 160

On many of the formulas, I generated them into images at 800 dpi. Some of the fractions on fractions are just impossible to emulate/unreadable using basic text.


Page 136: par. 2: No idea if this is correct (?)

It is quite clear that paper created and so paid away by the Government not beingereturnable to the issuer, will constitute a fresh source of demand, and must be forced into and permeate all the channels of circulation.

Throughout the book, there was quite often the usage of "v" and "I" instead of "u" and "J". Was this just some old way of spelling in ~1600 before the letter "v" and "j" was in the English language? Example:

Towards the bottom of page 326:

———England’s View, in the Vnmasking of Two Paradoxes (of de Malestroict) with the Replication vnto the Answer of Maister Iohn Bodine. London, 1603. Throughout the book, his name is spelled in 4 ways:


Should these all be fixed to "McCulloch"?

Monday, June 10, 2013

Essentials of Economic Theory by John Bates Clark

Status: One Round of QC (09.18.2013)


Fix Notes:

Page 51: Footnote 1, final sentence: accompanying

In the accompaying figure the fifth zone includes these “marginal” forms of wealth.

Page 100: very bottom of page: encumbrance

Of most kinds of consumers’ goods a person wants at one time one unit and no more, and a second unit, if he has to use it himself within the same time in which he uses the first, would be an incumbrance.

Page 330: par. 1: resistance

The economic motive which causes progress to perpetuate itself and to bring about more and more progress is the determined resistence to a fall from a social status.

Page 431: Footnote 1: semi-permanent (to match the usage of "semi-" throughout the book)

If carriers by water are in that intermediate state in which their capacity is only partially used, they also may offer to take some traffic for an amount which only covers variable costs; but this condition does not naturally become in their case semipermanent, as it does in the case of railroads.


- I removed the backmatter (replaced with the typical LvMI section).

-Throughout the book, there are: A, B, C, A', B', C', A'', ..., A’s, B’s, C’s, ... that flip flop between italics and non-italics versions. Quick Example: Page 74 unitalics, Page 186, italics.

I changed all of them to italics.

Saturday, June 8, 2013

Economic Principles by Frank A. Fetter

Status: One Round of QC (06.08.2013)


Fix Notes:

Page 67 and 71 both have a footnote 6.

Page 71: Footnote 6 should be a 7 (see Footnote 6 on page 67)

Page 91: last par.: coconut (Is this an old/English spelling?) (UNCHANGED)

Man alone regularly makes use of external objects as indirect agents to get what he wishes—not using merely his own bodily members. Primitive man saw the cocoanut hanging above his head out of reach.

Page 109 and 110 both have a footnote 1.

Page 110: Footnote 1 should be a 2 (See Footnote 1 on page 109)

Page 128: par. 1: likely (Is this an alternate spelling?) (UNCHANGED)

If there are various agents of different degrees of excellence, and only the better grades are being used to meet this particular demand, then an increase in the demand is likly to result not only in a more intensive utilization of the superior agents, but also in the calling of some of the inferior agents into use.

Page 429 footnote 7, the 'a' and 'b' are not superscript.

Page 429: Footnote 7: In the table, the superscript "2"s should be changed to b.

Page 440: Footnote 9 should be a 10 (See Footnote 9 on page 436)

Page 460 Footnote 1, may be missing a period at the end (could be scanning error)

Page 503: par. 1: on

He saw no problem om monopoly anywhere except in connection with land ownership.

Page 511: par. 2: of (Scanning artifact? or actual book typo?)

§ 10. Conflict cf individual and general interests.


I changed the figure description paragraphs for Figure 46 to better match the rest of the book.

Modern Economic Problems by Frank A. Fetter

Status: One Round of QC (06.08.2013)


Needs new scan:

26, 51, 80, 81, 87, 120, 124, 127, 131, 139, 146, 149, 178, 179, 181, 186, 194, 212, 216, 221, 230, 231, 238, 242, 248, 258, 259, 260, 262, 263, 267, 268, 327, 338, 344, 360, 363, 365, 366, 367, 368, 371, 375, 376, 402, 410, 411, 414, 423, 506, 510, 512, 513, 514, 524, 525, 526, 527, 528, 529, 531, 532, 534, 535, 537, 543, 545, 550, 551, 580, 592, 596, 597, 601

Not bad:

538, 549, 576, 579, 585

Fix Notes:

I changed the look of the copyright page to try to match the first Volume.

Page 22: par. 1: California

For some time after the discovery of gold in Calfornia, gold dust was roughly measured out on the thumb-nail.

Page 54: In the sections right below the Chapter: bimetallism

§ 10. Nature and object of bimetal-ism.

Page 81: par. 0: elementary

[...] mining to keep up the quantity of gold ought to be apparent to any one with the most elemetary understanding of monetary principles.

Page 94: par. 0: ability

The indispensable condition to the exercise of this function by a bank is public confidence in its abilty to fulfil its promise to pay whenever it is due.

Page 101: par. 2: inconvertible

In this view it is overlooked that bank-notes, unlike inconvertable paper money, depend for their value on the credit of the bank, not on their legal-tender quality and on political power.

Page 102: par. 1: predominant

The predominent opinion to-day is that in their economic nature bank-notes share to some extent the character both of private promissory notes and of political paper money.

Page 114: par. 2: manufacturing

Another aspect of this concentration of surplus money and available funds in the larger cities was the comparatively ample provision of banking facilities in the cities and in the manufacturng sections, and imperfect provision in the agricultural districts.

Page 125: par. 0: discount

Then the circulation might be doubled with the same reserves, the proportion thus falling to not less than 20 per cent of outstanding notes, and the rate of discout to customers rising to 13.5 per cent (5 plus 8.5).

Page 139: par. 0: wave-like

[...] in a wavelike manner, going through a somewhat regular series of changes that is called a business cycle.

Page 139: par. 1: precedes

What preceeds has not the appearance of disease, but rather that of exuberant health.

Page 141: par. 0: correspond

But the disturbances are so modified by the particular conditions (of crops, politics, and speculation) that the phenomena never corres-spond exactly in time of occurrence, in duration, or in intensity.

Page 175: par. 1: coöperators

The general plan and principles of local building and loan associations was extended in 1916 to groups of rural co-operators in the joint-stock land banks, enabling them to make loans to their members11; [...]

Page 237: par. 0: elementary

[...] the elemetary principles of foreign exchange is required, and to this we may now turn.

Page 241: Footnote 6 is also on page 235... all on this page until the end of the chapter should be one number higher.

Page 246: interference

§ 1. Military and political motives for inteference with trade.

Page 260: par. 2: monopoly

§ 11. Protection as a monoply measure.

Page 276: par. 0: divisions

The purposes for which the debts are incurred by specially organized districts are mainly indicated in the names (e. g., drainage, irrigation), while the regular political divisons of counties, cities, villages, towns, townships, incur debts for many objects, such as streets, sewage disposal, water supply, electric-light or gas plants, schoolhouses, libraries, and other public buildings.

Page 295: par. 2: products

Goods imported are taxed at the time of entering the country; domestic prod-ducts, such as cigars, spirituous or malt liquors, playing cards, [...]

Page 311: par. 0: distinction

[...] income of husband and wife living together (this distincton, it will be observed, offers a reward of $20 per annum to make marriage a failure).

Page 313: par. 2: administration

Before the adoption of the sixteenth amendment, the need for new revenue in the Taft adminstration led to the enactment, August 5, 1909, of an “excise tax” on corporations, measured by net profits within the taxing period.

Page 341: par. 1: eligible

The national organization was composed of local chapters, to membership in which every one was elegible excepting bankers, lawyers, gamblers, and saloon-keepers.

Page 394: par. 1: experiment

Great Britain, after some exexperiment with a local system, established in 1909 the first national system of “labor exchanges.”

Page 405: par. 0: companies

[...] gation of the business of the large industrial insurance com-ponies, that but 28 per cent of the premiums paid by employers were paid to workmen as indemnity.

Page 446: par. 1: campaign

Despite the fact that frequently in economic legislation the farmer has been the victim, every compaign orator admits that there is no other occupational class that is of greater importance to the nation than are the farmers, or more deserving of prosperity.

Page 462: par. 0: transferring

The greater ease of tranferring landed property in America and the greater mobility of our population have always made it more natural here than in Europe to look upon land as a capital investment.

Page 469: par. 1: coöperation (missing 'ö')

This type of producers’ selling coöperation is proving in America to be far more successful than producers’ co-operation among workingmen; [...]

This form of coöperation, with the related form of consumers’ co-operation that is fostered by it, promises to have a wide extension.

Page 472: par. 0: opportunities

[...] of better opportunties for credit in the agricultural districts was long recognized.

Page 473: par. 1: coöperation (missing 'ö')

These schools and meetings are helping, as are automobiles, good roads, telephones, rural free delivery, better schools, and an active rural press, to destroy the isolation of country life and to make farmers as a class more broadly educated, more co-operative and more public-spirited than the average urbanite.

Page 523: par. 0: coöperation (missing 'ö')

Yet there are some men interested in “large business” who look upon competition as bad, and upon monopoly as having essentially the nature of friendly co-operation.

Page 537: par. 1: Commision

The anti-trust legislation of 1914, passed by the Democratic party to carry out its program, is embodied in two acts: the Clayton Act and the Federal Trade Commision Act.

Page 550: par. 1: numerous

Civilized government requires the use of numer-out material agents to make possible the exercise even of the primary political functions.

Page 693: par. 1: non-existent (matching hyphenation in rest of the book)

But utopian (from utopia, Greek for no place) means nonexistent, and Marxian socialism surely was that.


Page 476, Figure 1 belongs in Chapter 28. I moved it to after Section 1 in Chapter 28.

Page 490, Figure 1 belongs in Chapter 29. I moved it to after Section 1 in Chapter 29.

Page 568 is missing the Caption/Figure information.

Monday, June 3, 2013

The TVA Idea by Dean Russell

Status: One Round of QC (06.03.2013)


Fix Notes:

Page 13: I removed the text of Footnote "1" because it does not make sense in the digital version of the book. It states:

"The source of this reference, as well as all other numerical references, is found on page 101ff."


I removed the References section and moved the footnotes to each individual chapter.

Page 15: par. 1: Two footnote 6s

Not counting the normal river channel, 463,000 acres of this land are now submerged below the normal level of the man-made lakes that TVA has created as a part of its flood control program.6 An additional 128,000 acres are held for flooding when the reservoirs are full.6

Page 62: par. 1: Two footnote 49s

In 1934, the federal government was producing less than one-half of one per cent of all the electricity produced in the United States.49 At the end of 1946, the federal government was producing more than twelve per cent.49

Sunday, June 2, 2013

The History of Banks by Richard Hildreth

Status: One Round of QC (06.02.2013)


Fix Notes:

Page 25: par. 0: purchasing

Thousands who had imagined themselves rich, sunk at once into poverty and distress ; and as coin was hardly to be had, and nothing but coin would be accepted in payment, it was difficult to find the means of purchashing the necessaries of life.

Page 28: par. 0: acquiescence

The people at large knew very little about the matter ; but satisfied with the acquiesence of the government and the merchants, they followed in the wake ; and presently things went on exactly as if the Bank had never failed.

Page 33: par. 0: resolve

In this condition of things, the nation, the ministry, and the merchants had not the courage to rosolve upon an instant resumption of specie payments.

Page 33: bottom par.: procedure

Now, what was the natural, certain, and inevitable consequence of this mode of proceedure?

Page 35: par. 0: magnificent

This acknowledgement was attended with an increased intercourse with those states; loans were opened in London on their behalf ; companies were established with large capitals, to work the American mines ; and the most mag-nificient reports were manufactured and circulated, touching the certain profits of these new undertakings.

Page 36: par. 1: disastrous

The resumption of specie payments had nothing to do with the panic of 1825,—except, indeed, that the delay with which that resumption had been attended, had been constantly producing, as I have already shown, a most disasterous influence upon the industry of the country.

Page 52: par. 2: subtleties

An assembly of lawyers rather chose to rest the decision upon legal quibbles and verbal subtilties, at which many of them were sufficiently adroit.

Page 77: par. 0: development

This is contrary to all their experience ; and they wait with fear and trembling for the final developement of this wonderful phenomenon.

Page 80: par. 0: controlled

A change took place in the national administration which did not extend to the Bank; the government were of one party in politics, and those who controled the Bank, of another.

Page 84: par. 3: disbursement

Notwithstanding all that has been said to the contrary, that act of the President’s was clearly legal ; and if we recollect that the charter of the Bank was to expire in less than three years, and that it was necessary seasonably to arrange some other system for the keeping and disburs-ment of the public moneys, we shall be inclined to pronounce that celebrated removal, not only an act of punishment, but an act of prudence.

Page 91: par. 1: improvement in

Such a steady drain, together with the improvementi n business throughout Europe, has raised the rate of interest there ; and this rise will cause to cease that fertilizing tide, which otherwise the Bank of England would try in vain to stop.

Page 106: par. 1: harassing

The gains of the bank are tolerably certain ; but the customers, a far more numerous body, and one in whose welfare, the public have a much deeper stake,—they are kept in a constant state of the most harrassing and servile dependence.

Page 110: par. 2: synonymous

Value, that is price,—for in matters of trade, these two words are synoni-mous,—depends 1st, upon supply, 2nd, upon demand.

Page 111: bottom par.: permanent

For this purpose they are adapted by their capability of being subdivided to almost any degree, without loss; by their small comparative bulk, which enables a large comparative value to be easily carried about and transported from place to place ; and by their capability of receiving a permament imprint, expressive of their weight [...]

Page 118: par. 1: possession

[...] to a certain sum of coin, at a certain place described in the bill, to the possesssion of which coin, the holder of the bill is entitled. In itself a bill of exchange is nothing but a piece of paper; [...]

Book 2 (Page 9) (159 in PDF): par. 1: controlling

With respect to prices, there is an influence exercised over them, upon which political economists have not yet dwelt ; but an influence which exerts a controling power [...]

Book 2 (Page 9) (159 in PDF): par. 2: to run

He, then who knows how liable opinions are to vary, and indeed torun from one extreme to another, will not think it necessary to seek the origin of fluctuation in prices, in the state of the currency.

Book 2 (Page 9) (159 in PDF): bottom par.: independently

Gold and silver have been universally fixed upon as standards of value, independantly of [...]

Book 2 (Page 10) (160 in PDF): bottom par.: American

The Amer-can Congress and the French Convention, exerted all their powers in vain, in attempting to establish, the one, continental bills of credit, and the other, assignats, as a standard of mercantile value.

Saturday, June 1, 2013

Man and Nature in America by Arthur A. Ekirch, Jr.

Status: One Round of QC (06.01.2013)

Library of Congress Catalog Card Number: 63-14925


Fix Notes:

Page 12: bottom par. 1: puritanical

“Such simple desires show the modesty of the demands upon nature; yet they also indicate that there were no puritannical restrictions on the use of leisure time or on any pleasant relationship between man and nature.”


I made the chapter headings centered, instead of being a sort of "left-centered" heading in the original.

I am tempted to remove the "Man and Nature in America" between the end of the Preface and Chapter 1. It had zero use in a digital version of the book.