"Nature is to us like an infinite ballot-box, the contents of which are being continually drawn, ball after ball, and exhibited to us. Science is but the careful observation of the succession in which balls of various character present themselves; we register the combinations, notice those which seem to be excluded from occurrence, and from the proportional frequency of those which usually appear we infer the probable character of future drawings."

“Previous to the time of Pascal, who would have thought of measuring doubt and belief? Who could have conceived that the investigation of petty games of chance would have led to the most sublime branch of mathematical science - the theory of probabilities?”

“One pound invested for five years gives the same result as five pounds invested for one year, the product being five pound years.”

“The laws of thought are natural laws with which we have no power to interfere, and which are of course not to be in any way confused with the artificial laws of a country, which are invented by men and can be altered by them. Every science is occupied in detecting and describing the natural laws which are inflexibly observed by the objects treated in the Science.”

“Economists can never be free of from difficulties unless they will distinguish between a theory and the application of a theory.”

“I protest against deference to any man, whether John Stuart Mill, or Adam Smith, or Aristotle, being allowed to check inquiry. Our science has become far too much a stagnant one, in which opinions rather than experience and reason are appealed to.”

“Have we not hereditary possessions in our just laws, our free and nobly developed constitution, our rich literature and philosophy, incomparably above material wealth, and which we are beyond all things bound to maintain, improve, and hand down in safety? And do we accomplish this duty in encouraging a growth of industry which must prove unstable, and perhaps involve all things in its fall?”