50 THE WORK OF THE STOCK EXCHANGE 
If, then, the volume of transactions in organized markets is 
likely to experience a large increase in the future, whether 
through the creation of new or the expansion of old exchanges, 
it follows that the volume of speculation in securities and com- 
modities will increase in proportion. The business man of 
2000 A.D. will probably be able with the greatest ease to make 
short sales of wool or tobacco, or purchase futures in coal and 
crude oil, whether in the course of his business, or for the sake 
of speculative profits. 
The past century has seen a gradual stabilization in busi- 
ness, largely through the operations of our organized markets. 
The next century will see the further stabilizing of prices and 
minimizing of risk. The accomplishment of these desirable 
ends will depend largely upon the creation and adequate devel- 
opment of organized markets.