Loria deals more extensively with slavery as affected by the valuation of labor, and Gibson examines elaborately the nature of hypothetically absolute slavery in analyzing the earnings of labor.

The contributions of both Loria and Gibson will be used below.

[Footnote 23: Achille Loria, La Costitutione Economica Odierna (Turin, 1899), chap.

Achille Loria has repeatedly expressed the generalization that slaves have been systematically overvalued wherever the institution has prevailed, and he has attempted to explain the phenomenon by reference to an economic law of his own formulation that capitalists always and everywhere exploit labor by devices peculiarly adapted to each régime in turn.

[Footnote 85: Achille Loria, The Economic Synthesis, M. Eden Paul tr. (London, 1914), PP.

Loria's explanation of the "central phenomenon" is therefore hardly tenable.

Loria's thesis is a work of supererogation.

[Illustration: THE SICILIAN VESPERS156] At the same time, the celebrated Italian Admiral Roger de Loria inflicted, by sea, on the French party in Italy, the Provincal navy, and the army of Philip the Bold, who was engaged upon incursions into Spain, considerable reverses and losses.