held up to a hungry crowd of victims as second only to the Bell telephone.

While the telegraph and the telephone can prevent speculations like the South Sea Bubble in a great measure, for such schemes were much aided by a lack of a general dissemination of intelligence, and this lack is supplied by a quick interchange of knowledge, they bring their own peculiar peril, for they are examples of what profit may be reaped from discovery in the world of science. The commercial enterprises of the world have been brought within reach of the many by the telegraph and telephone. They no longer belong to the few, while the successful working of the field of science is still confined to a minority and the general public; even the cultivated people are very ignorant of the approaches to the New El Dorado. No bogus land scheme or salted mining enterprise can be kept in existence to-day for a long period; but the Keeley motor, with its ethereal vibrations and its pseudo-molecular motions, was limited in activity only by the life of the promoter. Instead of the alchemists we have the seekers after power, which costs nothing, and in the train of the honest inventor there are unscrupulous promoters ready to capitalize any remarkable new fact or discovery which attracts public attention.

I have mentioned the influence of the first Duchess of Marlborough in inducing her husband, the great duke, to sell out his shares in the South Sea Bubble when they had risen to a high value because this example of discrimination and prudence in a woman supports one in the belief that all women are not prone to invest in women’s bank schemes, in Keeley motors, or in enterprises for “carrying on an undertaking of great advantage, but nobody to know what it is.” One of my friends recently visited the office of a company which proposed to produce power without the expenditure of a due amount of energy, and found among those anxious to invest a woman who said that she had just received a dividend from the company for extracting gold from salt water, and she was anxious to invest it in the new power company. The dividend was the result of a liquidation of the Gold from Sea Water Company, and represented half of her original sum. She had come out of one delusion with a loss of half of her property, and was now ready to enter another one with the remaining half. It was an old-fashioned notion that women should be kept in ignorance of business, for business knowledge, it was thought, was the concern of the husbands. This notion prevails still in some quarters, and there may be some connection between the number of women in Christian Science temples and their lack of education in practical matters, or in what may be called the legal business habit—a habit which weighs the probabilities of this and that, and leads to ways of exact thinking.

One of the remedies for this proneness of women to invest in scientific bubbles, to invest money on faith, is the lack of exact training, which is not acquired by them either in private schools or colleges. The classes of philosophy and psychology in women’s colleges are crowded, while those in the exact sciences have only handfuls. This remark also applies to the students in men’s colleges, and we realize in this respect how closely college women imitate college men. They follow the latter also in the habit of taking lecture courses, a custom which increases vagueness, inaccuracy of thought, and looseness of statement. This choice of studies by the young women in their colleges is a serious question for mankind, in view of the speculative spirit which the feminine sex show toward scientific bubbles and schemes which promise an inordinate rate of interest; for the graduates of these colleges will become teachers of youth, and if not teachers they have an influence upon the coming citizen during his formative period. As teachers they will far outnumber men teachers, and they are fast coming into competition with men also in the routine of business offices and in certain positions in commercial houses. In these activities they will need a balance of judgment, exactness of thought, and business habits. They should be given a sufficient knowledge of the elements of physical science to know that power can not be created from nothing, and that the great mass of our knowledge of mechanics and of the relation of electricity to mechanics can not be overturned by any new discovery. Whatever is discovered must be related to what has preceded it. This is a characteristic of a science, and this is what distinguishes it from a delusion—namely, the great body of related facts put upon a mechanical basis, so that any fact can be substantiated and any phenomenon repeated. When this latter test is applied to many of the isms of the day they fade into thin air, and young women need especially to be taught to apply such a test. It would seem as if the present choice of study by women students tended to intensify vagueness of thought rather than to correct it, to keep them in ignorance of business habits rather than to educate them in the balance of judgment on economic questions.

Women are born speculators, and are peculiarly prone to invest money and heart in bubbles. Being the power behind the throne, they can carry men into action, and it seems to me that especial attention should be paid in women’s colleges to the studies that cultivate accurate thought and business methods. A certain amount of the study of scientific methods and a study of common law might take the place of the study of philosophy, psychology, and biology, certainly in the first years of a woman’s college course, for psychology and biology are studies which demand long scientific training and maturity of thought. Recently I heard the following conversation at a bank in Cambridge. The cashier was speaking with a young lady: “Miss ——, your friend has overdrawn her account three hundred dollars, and you say she has left Cambridge.” “Yes, the trouble with Jane is she is too much educated.” A long residence in a university town makes one wary of educational theories, but the proneness of women to invest in women’s banks and bogus trust companies certainly seems to need a corrective in a new college curriculum. Men can indulge in delusions and can recover mental balance, and perhaps their fortunes; but women are apt to become bankrupt permanently. Their experience in business delusions is similar to that in affairs of the heart. Washington Irving says of this feminine attribute:

“She sends forth her sympathies on adventure; she embarks her whole soul in the traffic of affection, and if shipwrecked her case is hopeless, for it is a bankruptcy of the heart.”

More mathematics and science, and less philosophy and psychology, might correct that vagueness of thought which leads both men and women into delusion.

Now for our other remedies. Shall we have an academy which shall issue storm warnings of scientific bubbles? I fear that the influence of academies is waning, and that the conviction that there are as many good men outside of the academy as inside would militate against their dicta. We could have courts of scientific appeal, with judges appointed by the State to sit on scientific questions of perplexity, and to sift expert opinions. Such a constitution of scientific courts might be a good thing in several ways—a saving health to the public. The college professor would certainly be greatly relieved of endeavors of promoters to use the name and reputation of the professor’s university, and incidentally the little his own name might add. This remedial solution is not in sight, and we must direct our vision in another direction. We know that the newspaper can not serve us, for we seek to kill sensations, and it seeks to live on them. We are bound to turn to some journal or periodical which will publish only what it considers sound science and