Every one knows that, within the last two
centuries, a method of studying the course of nature has been
introduced which has been so successful in enabling us to trace
the sequence of cause and effect as almost to revolutionize
society. The very fact that scientific method has been so
successful here leads to the belief that it might be equally
successful in other departments of inquiry.
The same remarks will apply to the questions connected with
banking and currency; the standard of value; and, indeed, all
subjects which have a financial bearing. On every such question we
see wide differences of opinion without any common basis to rest
upon.
It may be said, in reply, that in these cases there are really no
grounds for forming an opinion, and that the contests which arise
over them are merely those between conflicting interests. But this
claim is not at all consonant with the form which we see the
discussion assume. Nearly every one has a decided opinion on these
several subjects; whereas, if there were no data for forming an
opinion, it would be unreasonable to maintain any whatever.
Indeed, it is evident that there must be truth somewhere, and the
only question that can be open is that of the mode of discovering
it.
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