It produces an uncertainty with regard to rates which prevents stability of prices, and is apt to promote the interests of the unscrupulous speculator at the expense of those whose business methods are more conservative.
He was the son of Archibald Cochrane, 9th Earl (1749-1831), who is remembered as a most ingenious, but also most unfortunate, scientific speculator and inventor, who was before his time in suggesting and attempting new processes of alkali manufacture, and various other uses of applied science.
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