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6 the Quarterly Journal of Economics in the United States. In the United. States there were two journals of high character belonging to the class of which he was speaking. But in this country we had no journal especially devoted to economical science as such. The Statistical Society's Journal and the Journal of the Bankers' Institute now and then took up questions of this kind, and the Bankers' Magazine occasionally had special articles bearing on the subjects in which they were interested. But there was no special journal for dealing with such topics. It was desirable that a medium should be afforded for dealing with the science in a technical manner, which was quite unsuitable for the general magazines, and with a view to establish such a medium he heartily supported this resolution.

Mr. rose to support this resolution, which had been so eloquently moved by Professor Marshall and seconded by Mr. Giffen. Mr. Marshall had dwelt on the necessity of bringing economists together, and had referred to the sad loss which economic science had sustained in the death of distinguished men. Mr. Giffen had compared this country with others in respect of journals of the class they were dealing with. In the few remarks he should make he would start from another point of view—the common diffusion of economic knowledge in the interest of the country at large, and quite apart from the more scientific desires and aspirations of economists themselves. (Cheers.) Warned by Professor Marshall, he would try to keep away from any question of 'wholesome influence.' At the same time, he could not but think, having great confidence in the science, that its further study would lead to the diffusion of truths which appeared to him to be extremely necessary to the happiness and prosperity of the nation. As the foundation of such a society as this he would place the desirability of dealing with that general reconstruction of economic ideas and theories which, if he was not mistaken, had been going on during the last fifteen years. Mr. Marshall had been kind enough to speak of him as an economist. But he was bound to say that he considered himself only an amateur. He had only been able to follow to a slight extent the works which had proceeded from the pens of distinguished men. But he had greatly at heart the diffusion of all economic truth, especially at a time when every economic truth was assailed in various forms. There was scarcely a department of the science where it was not necessary to look to the very foundations of their doctrines, because these very foundations were attacked in so many quarters. It was impossible for any economist to look for the acceptance of