collecting, Mr. Hill Burton speaks very distinctly in "The Book-hunter:" "Where money is the object let a man speculate or become a miser.... Let not the collector ever, unless in some urgent and necessary circumstances, part with any of his treasures. Let him not even have recourse to that practice called barter, which political philosophers tell us is the universal resource of mankind preparatory to the invention of money. Let him confine all his transactions in the market to purchasing only. No good comes of gentlemen-amateurs buying and selling." There is room for difference of opinion here, but there seems to be most reason on the side of Mr. Hill Burton. It is one thing for the collector to be able to reflect that the money he expends on books is not lost, and that his family may find themselves richer, not poorer, because he indulged his taste. It is quite another thing to buy books as a speculator buys shares, meaning to sell again at a profit as soon as occasion offers. It is necessary also to warn the beginner against indulging extravagant hopes. He must buy experience with his books, and many of his first purchases are likely to disappoint him. He will pay dearly for the wrong "Caesar" of 1635, the one without errors in pagination; and this is only a common example of the beginner's blunders. Collecting is like other