Morning Oregonian. (Portland, Or.) 1861-1937, October 30, 1907, Page 8, Image 8

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    THE MORNISO OBEGOXIAS, WEDNESDAY, OCTOBER 30, 1907.
SUBSCRIPTION KATES.
INVARIABLY IN ADVANCE.'
tBy Mall.)
Dally. Sunday Included, one year $8.00
uaiiy, bunaay included, six montns...
Ially. Sunday Included, three months.
I)ally. Sunday Included, one month...
Daily, without Sunday, one year
Pally, without Sunday, six months...
Pally, without Sunday, three months.
Eallv. without Simrinv one month...
4.33
1.25
.75
6. no
8. 25
1.73
no
Sunday, one year t.50
Weekly, one year (Issued Thursday).. 1.50
Sunday and Weekly, one year 8.60
BY CARRIER.
Dally, Sunday Included, one year....;. 9-2
Dally. Sunday Included, one month 75
HOW TO REMIT Send postofflce money
order, express order or personal check on
your local bank. Stamps, coin or currency
are at the sender's risk. Give postofflce ad
dreaa In full. Including; county and atate.
POSTAGE RATES.
Entered at Portland, Oregon, PostofTce
aa Second-Class Matter.
10 to 14 pages 1 cent
16 to 28 Pages a centa
' 80 to 44 Pages 8 cents
46 to 60 Pages crs
Foreign postage, double rates.
IMPORTANT The postal laws are strict
Newspapers on which postage is not fully
Prepaid are not forwarded to destination.
EASTERN BUSINESS OFFICE.
The 8. C. Beckivltb Special Agency New
Tork. rooma 48-60 Tribune building. Chi
cago, rooms 510-612 Tribune building.
KEPT ON SALE.
Chicago Auditorium Annex. Postofflce
News Co.. 178 Dearboru at.
St. Paul, Minn N. St. Marie, Commercial
Station.
' Colorado Springs, Colo. Bell. H. H.
Denver Hamilton and Kendrtck. 906-912
Seventeenth street; Pratt Book Store. 1214
Ftfteenth street: H. P. Hansen. S. Rice,
Geo. Carson.
Kansas Ctty, Mo. Rlcksecker Cigar Co.,
Ninth and Walnut; Yoma News Co.; Harvey
News Stand.
Minneapolis M. J. Cavanaugh. E0 - South
Third.
Cleveland, O. James Fushaw, 80T Su
perior street.
Washington, D. C. Ebbttt House, Penn
sylvania avenue.
Philadelphia, Pa. Ryan's Theater Ticket
office; Penn News Co.
New York City U Jones Co. Astor
House: Broadway Theater News Stand; Ar
thur Hotaltng Wagona; Empire News Stand.
Atlantic City, N. J. Ell Taylor.
Ogdcn D. L. Boyle, Lowe Bros., 114
Twenty-fifth street.
Omaha Barkalow Bros.. Union Station;
Mageath Stationery Co.
Des Moines, la. Mose Jacob.
Sacramento, Cal Sacramento News Co.,
430 K street; Amos News Co.
Bait Lake Moon Book & Stationary Co.;
Rosenfeld A Hansen; G. W. Jewett. F. O.
corner.
Lot Angeles B. E. Amos, manager ten
street wagons.
San Diego B. B. Amos.
Long- Beach. Cal. B. E. Amos.
San Jose, Cal St. Jamea Hotel News
Stand.
Dallas, Tex. Southwestern News Agent.
El I'uso, Tex. Plaza Book and New
Stand.
Fort Worth. Tex. F. Boblnson.
Amarlllo, Tex. Amarillo Hotel
Stand.
New Orleans, I-Ji. Jones News Co.
8an FranclMo Foster & Ortar:
Newa
Ferry
News Stand: Hotel St. Francis News Stand;
L. Parent; N. Wheatley; Falrmount Hotel
News Stand; Amos Newt Co,; united New
Agents. 11VJ Eddy street; BT E. Amos, man
ager three wagons.
Oakland, Cat W. H. Johnson, Fourteenth
and Franklin streets; N. Wheatley; Oakland
News 8tand; B. E. Amos, manager five
wagons.
(oldfleld. Nev. Louie Follln; C E.
Hunter.
Eureka, Cal. Call-Chronicle Agency; Eu
reka News Co.
rOBTLAND, WEDNESDAY. OCT. 80. 1907.
THE MONEY SITUATION.
The single object of the request of
the bankers of Portland for procla
mation of a holiday that is, a legal
suspension of business was to obtain
time for deliberation, and for concert
on the conditions, so as to make the
situation secure. It was for protection
of the country banks also, which,
without this action, would have been
exposed to the danger of depletion
and exhaustion. Different methods of
dealing with the difficulties of the situ
ation have been adopted in various cit
ies different in detail but coming to
the same thing, in the result. In most
there is use of clearing-house certifi
cates or cashiers' checks. This, in
deed, haB become practically universal.
The thought of the legal holiday was
merely a method to obtain time for
consideration. That attained, it has
been resolved by the associated banks
of Portland to open today, on the plan
outlined in the statement published In
the news columns of The Oregonian.
The plan is as closely as possible that
of the banks of other cities of the
United States. As soon as the banks
and general business of the country
Bhall have gained a little time in which
to make settlements and readjust
ments, everything will go on as usual.
There has been a sort of earthquake
jar, such as occurs when one great
segment of the globe slips past an
other, to find a new equilibrium. But
stability is again assured. It should,
however, occasion no surprise, in the
circumstances, that the disturbance
has been great. There is money
enough for the business of the. coun
try, if the credit system, under which
nine-tenths of the business is done, is
not upset. But when It is upsef no
amount of money is money enough.
For money, under a scare, will disap
pear like the mists of a morning under
the rising sun. .
It is sufficiently known how the con
ditions that vex. the country came
about. The situatl is the result of
enormous expansion of credit, based
on exploitation. ' In the wild specula
tion of the past five years all growth
of the time and for years to come has
been anticipated and discounted. The
present crisis Is the culmination of the
growing excess and irritation of a vast
mass of "undigested securities," forced
on the country by lords of exploita
tion, who have had access to life in
surance, rr.'.lway and other great
funds, and have used them in im
mense masses for increase of their own
gains. Stocks and bonds, not only the
new issues, but t'e old, have been car
ried to figures representing excessive
values, .up on showing of expected earn
ings. The Immense gains made by
such concerns as Standard Oil, United
States Steel and the Harrlman rail
roads have been used to support and
Torce these operations, with fabulous
profits to the promoters. As always in
-. these inflated transactions, tli- Invest
ing public has been heavily victimized:
and the process has continued till It
could be carried no further. The
dupes are "all in"; public attention
was called again, and again by Presi
dent Roosevelt and by the press of the
country to the outrageous methods
and general iniquity of the whole
scheme, and it i.as fallen at last. With
Its fall there is a natural crisis in the
money market, from which, however.
the country must soon recover, be
cause its strength Is In Its vast Indus
tries and enormous production.
Returns to our local banks on tha
crops of the country, its wheat, lum
ber and other products, have 'been ar
rested by the action of -the Eastern
banks. Drafts and bills of lading, rep
resenting very heavy sums advanced
at Portland, are denied recognition by
Eastern banks, or at best only recog
nized by issue of clearing-house certifi
cates. But these millions of money
must come back to the Northwest. The
commodities for which the money has
been paid out stand for actual values.
But the readjustment can't be effected
in a day; the Eastern money market
must first recover its equilibrium.
No unsafe business hai been done in
the Pacific Northwest. 'The progress
of the country, the growth of its in
dustries, its general development,
though rapid, has been regular and
steady. AJ1 -business in leading lines
has pursued rational and conservative
courses. There has been unusual ac
tivity, indeed, but no departure from
the very soundest principles. Hence
the present interruption cannot be
more than temporary. But throughout
the country itwill be a warning that
more care is needed,' if repetition cf
such crises Is to be avoided. The root
of this trouble is in the excessive spec
ulation, in the extreme greed, in the
lawless, prodigious and faclnorous op
erations of a class of men who have
found In the conditions of the past few
years an unexampled field to revel In.
But we are not to look backward now,
except for warning against former er
rors, and for guidance againstepetl
tion of them, but are to look forward
to new creative and conservative ef
fort. Here we are only jostled a little,
and soon will be all right again, for we
have all our growing resources to draw
upon.
SPECULATIVE STRENGTH MISSED.
. The important bearing which specu
lation has in fixing wheat prices
is disclosed in the present final. -cial
stringency. In the face of a
strong foreign situation and daily
advances in the European markets
there has been remarkable weak
ness and heavy declines in Chi
cago and other Eastern markets. Not
only has there been no money avail
able for speculation in futures, but It
is with extreme difficulty that suffi
cient funds have been secured to move
the actual wheat from producer to
shipper. The Chicago market has de
clined 12 cents per bushel from the
high 'point reached on the December
option, and cash wheat nearly as
much. As there has been" no change
in natural conditions to warrant
such a heavy decline, much of
the loss must be due to lack of spec
ulation. The statistical position both
at home and abroad is remarkably
strong, the American visible having
decreased nearly twenty millions In
the past ten weeks, and this week
showed a decrease of 371,000 bushels
at a period when. in past seasons the
weekly Increases were in excess of
1,000,000 bushels.
If the Government estimate on the
1907 crop of this country is accurate,
we have already exported more than
one-half of the maximum amount that
can be spared from the crop. Ship
ments from the United States since
July 1 have already reached a tot-1
of 61,525,000 bushels, compared with
but 32,000,000 bushels for the same
period last year, when the crop was
more than 100,000,000 bushels greater
than it is this year. Unless the Ar
gentine crop reaches harvest under
perfect conditions, there 1s nothing in
the natural conditions which seems to
warrant a decline In prices at this
time. Pending the adjustment of the
financial situation, however, the mar
ket in this country is almost certain
to feel the ef.'ect of lack of speculation
and the movement will be restricted
accordingly.
A PURE MILK SUPPLY.
A clean and wholesome milk supply
Is a matter in which every city and
every citizen is more or less vitally In
terested. Milk, next to water; and too
frequently in conjunction with water,'
reaches more homes than ' any other
article of dally use, and, next to water,
is capable of carrying more germs of
filth diseases than any other element
or medium that enters our homes. It
may truthfully be said that two-thirds
of the cows stabled in suburban barns
and staked out for portions of each
day on vacant lots or commons, are
disgusting to the sight and smell of
the casual -passer. Yet these -animals
are clean and wholesome In -appearance
and in fact, compared with the
stabled cr tures of neglected dairy
barns that, in spite of inspection, exist
in different localities tributary to the
milk supply of this city. Assertion and
denial have been heard, on. this topic
In recent weeks, a physician and mem
ber of the City Council affirming that
a large number of children perish each
year in Portland from being fed im
pure milk drawn by filthy hands from
the unclean udders of diseased cows,
while others in authority boldly con
tradict the statement and challenge
proof.
Now this matter of producing and
vending impure milk, if it is done, is
not done In a corner, nor at any great
distance in any direction from the city.
The assertion is either true or it is not
true, and, whether true or not, the
public is entitled to know the truth.
The larger the city the more difficult
to guard the milk supply, yet vigilance
Is not less necessary when the supply
is relatively small, as in a ity of a
few thousand inhabitants.
V New Tork . City has been wrestling
with this problem for years, and has
now a system of milk inspection that
places a guarantee of purity upon each
of the 1.750,000,000 quarts of milk that
are delivered dally in that city. This
enormous sea of milk is gathered from
more than 35,000 farms and shipped
from about 700 creameries located In
six different states. The most strin
gent regulations are necessary to safe
guard this supply. As stated by Dr.
Thomas Darlington, Hea4th Commis
sioner of New York City, at a recent
meeting of the health officers of the
state in Buffalo, "the requirements
necessary to produce and serve pure
milk can all be summed up in the word
'cleanliness.' To meet the require
ments of this word is not necessarily
Impossible or expensive." The' rules
provide that the cows must be kept
clean; that stables must have sufficient
light and ventilation; that the floors,
walls and ceilings must be clean and
tight, and the entire Interior white-
washed yearly; and that all droppings
must be removed daily. The milk
house must be 1 used exclusively for
handling and the storage of milk, thus
discouraging the old process of strain
ing and keeping milk in the cowbarn,
where It formerly received Its full
quota of odors and dust. It is fur
ther provided that no person having a
communicable disease, or caring for
persons thus afflicted, be allowed to
handle the milk or milk utensils, and
that the hands of the milkers must be
carefully washed immediately before
milking.1 Rules equally plain and
stringent apply to the cleansing and
care of the utensils used, and that the
product fee kept entirely free from
adulterations.
A copy of these rules printed on
linen is posted in more than 30,000
cowbarns, so that no dairyman or any
employe can, upon occasion, plead ig
norance of them. With rigid inspec
tion these rules and regulations have
been found adequate for the protection
of the enormous milk supply of th a
great city.
According to the authority quoted,
they have made filthy and unclean
dairies the exception in the vast dis
trict from which the supply Is drawn.
It would, of course, be much easier to
enforce such rules in a small district
than in a large one. The requirements
are, first,' the rules and regulations,
then Berving them In proper form upon
dairymen and their helpers, and finally
a system of inspection vigilantly car
ried on by men who are faithful to
the duties imposed.
THE FALL ELECTIONS.
A dozen different states of the Union
will enjoy this Fall the mild excite
ment of an election In an off year.
The result of the vote for Governors,
Mayors, and so on, may throw some
light on what will happen next Fall,
but not very much. The American
people are learning to specialize in
their elections, and more and more as
political intelligence increases the re
sult of a given contest may signify lit
tle more than pertains to the issues
directly Involved.
In Mississippi, where nobody but a
Democrat is ever chosen to public of
fice, of course the election is a mere
formality without Interest to the rest
of the country. In Massachusetts,
where the Democrats are hopelessly
divided into factions, there is likely to
be much illuminating discussion of the
tariff, some of it genuine, some of it
mere verbosity. Senator Lodge will
offer a fine assortment of the latter
style of discussion to his admiring con
stituents. Mr. Whitney, on the other
hand, is a sincere tariff reformer, but
he has little chance of being elected
Governor.
Perhaps the most interesting of all
the Fall Sectional campaigns is .that
which will decide who is to be the next
Mayor of Cleveland, O. The Well
known Tom Johnson is a candidate to
succeed himself. Opposing him is
Congressman Burton. Mr. Johnson is
a man of eccentric" but unblemished
character and great ability who has
fought a long fight in the interest of
the people of Cleveland against a
strongly intrenched street railway mo
nopoly. His slogan has been three
cent fares. He has won the Ijattle, at
least In part, and has a following in
the city which cannot easily be divert
ed, even to such a man as Burton.
Mr. Burton's decision to exchange
his important seat in Congress for the
Mayoralty of Cleveland puzzles many
observers. It is explained partly by
the wish of the Administration to
make Cleveland Republican and thus
solidify Ohio for Taft, partly by the
fact that if Burton defeats the hitherto
unconquerable Johnson he will be well
on his way to the United States Senate.
"PnllMnl refArmArs n t-r f nr the mnt
( part that National issues should have
1 been introduced into the Cleveland city
election, though respect for Mr. Bur
ton and admiration for his great ability
and high character are universal. It
Is thought by some, however, that he
has made an error of judgment in en
tering the campaign against Tout John
son. It is also believed by many that
Mr. Roosevelt has not bettered Secre
tary Taft's prospects in Ohio by urg
ing this course upon Burton. Good
observers are not very hopeful for Re
publican success in Cleveland this Fall.
The registration of voters is extraordi
narily heavy, tut both parties claim
the benefit of it and probably on
equally good grounds.
THE WALL-STREET GAME.
The Philadelphia Press gives cur
rency to a prevailing sentiment in the
East when it chortles in glee over the
downfall of Heinze, using the incident
as a text for sermonizing on other
Westerners who have gone up against
the Wall-street game with disastrous
results. The Press mentions the ex
perience of James R. Keene and John
W. Gates, and concludes with the fol
lowing advice to Westerners who may
have intentions of making a raid on
Wall street:
Stick to your game and give the other
fellow credit for knowing his own game bet
ter than you do. The West knows hogs and
cattle, wheat and corn. It la a teacher in
that big school.' But the East knows a thing
or two about dealing in problems of pure
finance so that when the scholar begins to
Instruct the teacher, somebody gets "stung"
and it is not the teacher.
If there was anything in connection
with the "trimming" which Wall street
gave Heinze that bore any resemblance
to "pure" finance or anything else that
was "pure," it is not easily discernible
through the mists of honesty which
sometimes obscure the vision of the
Westerners. The West has no great
amount of sympathy to waste on gam
blers like Keene, Gates, Heinze and
others, of their stripe, but it is ever
lastingly to the credit of these men
that they do not know some features
of the Wall-street game as well as the
"teachers" whom the Press mentions
with questionable pride. Out Vfest,
where these men grew up and devel
oped their thirst for gambling, there Is
honor even among thieves. Loaded
dice and marked cards are not so gen
erally in use as they are in the East,
and the Wall-street propensity to "get
the money," regardless of the meth
ods deemed necessary, has never
reached an acute stage of development
in the West.
Honor, friendship and life itself still
receive recognition in the West, and if
the financial blood cannot be squeezed
from the victim without the adoption
of the killing, fiendish methods by
which Wall street "trips" its victims,
the East will still bear the laurels for
excellence in that particular school of
"pure finance" alludsd to by the Prfss.
Gates and Heinze may be gamblers.
but they lived too long in the West
ever to become "dog-eat-dog" gamblers
of the Wall-street type, and their in
ability to sound the hideous depths in
which their - ."trimmers" wallow and
revel wrought their undoing. The
Press is correct in one statement. The
West does know hogs, and of all the
varied species, both biped and quadru
ped, which have been classed under
the general head of "hogs," the Wall
street type is the most reprehensible.
But why should the Eastern papers
exhibit special., pride in the ability of
the Wall-street wolves to rend their
victims from the West? By following
a policy less harsh but equally effective
one Sir Henry Morgan "trimmed'.' hun
dreds and thousands of victims centu
ries before the modern Wall-street
buccaneers flew the black flag. The
policy is not a new one, although the
attempt to legitimatize it is of compar
atively recent date. .
. FROM SMALL BEGINNINGS.
In the small beginnings, scarcely
larger than those of a country black
smith shop, John Deere, a pioneer
plow and implement maker, laid in his
day the foundation of an Immense for
tune. Dying some years ago, he left
this business and fortune to his son.
Charles H. Deere. The son died but
Monday. Having conserved and man
aged with care and sagacity his large
Inheritance, he was possessed of great
wealth. The name "John Deere &
Son" is familiar to every farmer in the
land. It has stood for years for what
It was worth in the implement busi
ness, which 13 to say, it was a guaran
tee for excellence in its special line.
The Deere fortune, however, stands
for more than business energy and sa
gacity. It stands for opportunity that
is not likely to be repeated the mar
velous opportunity of growth that
comes with the transition from the old
to the new, from the sickle, the grain
cradle and the flail to the reaper, the
header, the thresher and great com
bined harvester; and from the plow
share, clumsily fashioned by the vil
lage blacksmith, to the sulky and the
steam plow. ;
The inventive genius of the Ameri
can mind was auxiliary to this growth,
was indeed a part of it. . The Deeres
and the Olivers and the McCormfcks
names that stand for the best that is
in the agricultural implement trade In
an age in -whicli the best of one year
was cast aside for something better
than the best the next were not in
ventors, they were manufacturers,
merely bringing out in chilled steel
and In Iron the ideas that were submit
ted to them by a great army of invent
ors and experimenters. The country
grew, their business grew and great
wealth became their portion.
The "great combine," as the mod
ern machine that passes over vast
grain fields and leaves rows, of sacked
wheat in its wake, represents the com
bined energy and thought and experi
ment and labor of an age, growth the
like of which the world never . before
knew. A few colossal fortunes grew
out of this combination, - but its best
results are found In the improved con
ditions of an agricultural community
that has widened until it possesses an
entire continent. - .",
A writer in the current number of
the Outlook has a highly laudatory ar
ticle on James J Hill, in which Hill
is given credit for discovery of the
Oriental flour trade. The writer as
serts that Mr. Hill "went about Seattle
and Portland explaining to Chinese
merchants how bread should be baked.
He had literature in the native lan
guages scattered in China and Japan to
teach the use of flour. He talked to
his friend Chin Gee Hee and a trial
shipment of American flour was
made." All of which reads very well,
but is not in accordance with the facts.
Nearly ten years before Mr. Hill had
any personal knowledge of the Ori
ental trade, T. B. Wilcox, of this city,
had representatives all through China
and Japan and Siberia not teaching
them the "use of flour," but seling it
to them by the shipload. And about
twenty-five years before the appear
ance of Wilcox on the scene the Ori
entals had learned "the use cf flour"
and were importing it from California.
Mr. Hill is a great man, but he had
very little to do with the development
of the Oriental flour trade.
Five hundred entries at the coming
horse show indicate that the affair
will be something more than a display
of fine gowns. Any exhibit that can
bring out this amount' of ultra-select
horseflesh cannot fail to have an im
portant bearing on the breeding indus
try in the state, and for that reason,
aside from all others, every effort
should be made to give the show "The
generous support to which it is enti
tled. The director of the Lick Observatory
tells the world that he has discovered
four distinct knots in the rings of Sat
urn. If Taurus is at all interested
with his Wall-street kindred, and there
is a telescope sufficiently powerful, a
close observation would undoubtedly
disclose a number. of knots in his con
stellated tail.
Perhaps the National president of
the Woman's Christian Temperance
Union Is not too optimistic when she
declares that the South will be solid
for prohibition in five years, but let no
one Imagine the people of Kentucky
will all be on the water wagon by 1912.
Football men, whether in victory or
defeat, are the heroes of the hour.
This is the tribute which a strenuous
age pays to those who strive In the
field of endeavor and winning or los
ing count the battle worth all that It
cost. -
Secretary Loeb also killed a bear.
In the long evenings the coming Win
ter, when cares of state weigh heavily,
Theodore and William may find sur
cease in exchanging recollections of
the chase.
To Seattle: la, the name of com
mon sense, don't mix local .politics and
rigid sanitation. The bubonic plague
is an enemy that must be. extermi
nated.. Arrest of a crowd of Socialists In Se
attle Is precisely the sort of martyrdom
they seek, for they know it isn't a
crime in this country to talk, j ....
Evangelist Hart, at Walla Walla, de
clares dramatically that he doesn't
want to go to hell In an automobile.
Well, he can't use a balloon.
Children, remember three weeks
from now, when the teacher asks you,
tell her there are forty-six states In
the Union.
Having decorated Caruso with a
medal, will Emperor William also
hang one on von Moltke?
Idaho, July 3, 1890; Oklahoma, No
vember 16, 1907. It's a long while be
tween new states.
PRESENT FINANCIAL SITUATION. J
Hopeful Tone Cornea From Represeata
tlve Eastern Newspapers.
New York Commercial.
Home banking wisdom for this cooler
weather: a good thorough shaking out of
the ashes improves the draft and certifies
the value of checks.
Wall Street's F5s Don't Scare.
St. s?aul Pioneer Press.
Wall street has thrown another fit, hut
as Wall street's fits are all of the boom
erang nature, the country at large will
only look interested to be polite.
Money Is Safe In Banks.
Brooklyn (N. Y.) Eagle.
Money now on deposit is not only In the
best of custody, eliminating fright, but
it is infinitely safer than it is likely to be
after it has left the paying teller's hands.
What will become of it then may bo
dubious. Left where it Is, its safety is
absolute.
Industry' Mew Lease of Health.
Springfield '(Mass.) Republican.
Values in things of value have not been
Mmpaired. The speculative business world
has been going too fast and far. but the
great realm of industry is on the whole
upon a sound basis, and the purpose to
sit tight and do business along legiti
mate lines conspicuously marks the sit
uation in the United States as a whole.
Again In War of Proper Banking.
New York Mail.
There were two kinds of business men
in this country, and those unworthy to
be trusted were a small minority. The
latter have disappeared almost overnight
from the banking community of the me
tropolis. They have been eliminated sum
marily, grimly, almost ruthlessly, by the
voluntary, and concerted action of the
legitimate business of the city. The In
stitutions which they mismanaged have
been' set again in the way of proper
banking. ,
The Cure Is Progressing-.
Chicago Record-Herald.
It Is a great satisfaction to note again
how sound the conditions are throughout
the country. Fortunately Chicago's case
is. typical. Chicago represents the coun
try and most of the great cities of the
country. New York, strong like the
others, has had to nurse a sore spot,
and it has done this in a way to prevent
a spread of the contamination. If the
sore Is not entirely healed, the facts are
proving lncontestably that the cure Is
progressing.
Doesnt Show Basle Weakness.
Boston Herald.
In the final analysis, the weakness and
collapse in which a comparatively small
coterie of -interests are Intimately con
cerned Is purely the result of unwise,
reckless speculation, and nowhere leads
back to any basic weakness in the coun
try's business of finance. In fact, the
notable feature of the present situation
and the great demonstration that is be
ing made before the people. Is the under
lying strength and resource that re
stores confidence In place of temporary
alarm, and affords the guarantee against
a general panic. It's a great weeding out
of the weak banks that is now going bn.
Knickerbocker Depositors Safe.
New York Times.
It may be doubted that there are in
the world many, if any, banking insti
tutions which could have succeeded In
the ill-advised attempt of the Knicker
bocker Trust Company to pay over its
counter. In a few hours, with little or
no preparation, more than $50,000,000 of
deposits; and. it is very easy to exagger
ate the mischief resulting from the fail
ure of that attempt. The depositors who
were disappointed In cashing their de
mands have by no means lost their
money. Their balanced passbooks have
a negotiable value near their face today.
and will be more valuable as the time
of payment approaches.
No Cause For a Panic,
New York Tribune.
Real estate speculation and industrial
promotions have absorbed capital which is
not now available, and the backers of some
such undertakings are losing their own
money and entailing loss on those whose
funds they tied up by dubious banking
methods. But these questionable com
mitments are not in the aggregate se
rious enough to upset the banking world.
The disturbance they cause is temporary,
because the condition of the country as
a whole Is eminently sound and its pros
perity canbe shaken only, by some tre
mendous and worldwide shock to indus
try and credit. As a matter of fact, the
United States la fortified as it never has
been before against a real financial
panic.
A Great Branch of Literature.
From a book entitled "Pleasures of
Literature," by an English writer, pub
lished in 1851, and now republished by
Putnams, this passage seems specially
worth quoting, to wit:
When Beauclerk's books were sold, Wilkes
expressed his astonishment at finding so
large a collection of sermons in the library
of a fashionable scholar. Johnson said:
"Why,' sir, you are to remember that ser
mons make a considerable branch of Eng
lish - literature." The caution might be
widely spread. In every Christian land the
learned mind has poured Its choicest gifts
into theology. Chrysostom warms the
fourth century like a Bun. The discourses
of St. Bernard are shining lights In dark
ages. Dante, whom he preceded by more
than 100 years, caught no views of Para
dise from the mountalntop more fruitful or
serine. If we turn our eyes to France.
Bossuet Is her grandest poet and Pascal
eclipse Montesquieu.
The gloomy recess of an ecclesiastical
library Is like a harbor, Into which a far-
traveling curiosity has sailed with its freight
and cast anchor. The ponderous tomes
are bales of the mind's merchandise. Odors
of distant countries steal from the red
leaves, the swelling ridges of vellum and
the titles In tarnished gold. Davenant's de
scription of their covers sprinkled with
dust, and long streets- of spider's webs. Is
striking as the lesson it gives is signifi
cant. .
AT THE END.
When the sands in the hourglass falter
And the -end of it all is nigh: '
When the signal 1s made for the curtain
And the footlights begin to die
It is good to glance back at the duties
- We have done in the days gone by. ' .
When the grave in the grass is yawning
And we totter, decrepit and gray;
When the darkness begins to hover
And we near the end of -the day
l is good to look back at the flowers
We have planted along the way. .
Wherf the candle has burned to the socket
And the flame in the wind is bent;
When life to the utmost limit
Of years is nearly spent.
It is good to look back at the kindness
Our lives to others have lent.
When the windows begin to darken
And we bid farewell to the sun:
When the singing is turned to silence
And the end of it all is won,
It Is good to gaze back through the
twilight
At the good that we may have done.
WILL REED DU.NEOr.
AT A . NATIONAL CONVENTION
Army of Employes Needed to Care for
- the Delegates and Public.
Baltimore News.
A Republican National convention
will shortly be put up at auction. It
won't exactly be knocked down to the
highest bidder, because other things
than money will count; but. those other
things being equal, the city that offers i
the most money will likely get it. The
prospective bidders include Chicago,
St. Louis, Kansas City. Denver, Seattlo.
Pittsburg and Boston, but others will
be welcome. No one has a cinch on
the meeting as yet.
Bidders will have to qualify by prov.
ing possession of the following things;
A hall seating as near 10,000 people
as possible.
Hotel accommodations for 2000 dele
gates, 2000 or more officers and em
ployes, and from 10,000 to 20,000 vis
itors. i
, First-class telegraph facilities.
A hundred thousand dollars or so in
cash.
If a city has these things, only one
other is necessary to secure the con
vention, and that Is a majority of votes
in the Republican National Committee.
Mr. Harry S. New, of Indiana, Is acting
chairman of that committee, and in
few days he will issue a call for a
meeting to select a convention city.
That meeting will probably be held In
Washington early in December.
Collector of Customs W. F. Stone, of
this city, is sergeant-at-arms of the
Republican convention. He held that
position last time when Chicago was
the meeting place, and was unani
mously re-elected. Talking of the 1904
convention this morning, he told why
the big facilities mentioned above are
required.
"There were 998 delegates at Chica
go," he said, "and 998 alternates. There
were about 2000 employes. There was
an army of newspaper men and tele
phone and telegraph representatives to
be accommodated. Then there was the
big public to be looked after.
"To the sergeant-at-arms is given the
task of preparing the building for the
convention and managing it during the
convention. It is his business to sea
that everything runs smoothly, and to
Insure this he makes all the appoint
ments that are made, with the excep
tion of temporary and permanent chair
men, chaplains, the secretary of the
convention, and his assistants.
"The size of my staff at Chicago will
give an idea of the magnitude of the
work. I had 1000 assistant sergeants-at-arms,
850 doorkeepers. 400 messen
gers, and 250 ushers. There were seven
chief deputies, who were ob,.ged to be
In Chicago with me for three weeks
before the convention I was there
more than five weeks and In all I had
about 2000 appointments. These depu
ties were paid $5 a day and their rail
road transportation. The doorkeepers
were- paid $5 a day for four days, the
convention being in session three days.
Then there was a clerical force of 25
men who were paid for their services.
"The sergeant-at-arms himself is
paid his actual expenses and nothing
more. I had a suite of rooms at the
Auditorium Annex, and was paid my
transportation, but no salary for serv
ices. "When the Coliseum building was
turned over to me It was little more
than four walls and a ceiling. It had
just been used for a horse show. To
provide ample entrances and exits I
had two new doorways cut in the
building and leased a block of ground
in the rear, in order to get an entrance
on Michigan avenue. Along this we
built a driveway and two walks for
pedestrians, and covered the whole
thing to provide for bad weather.
"In addition, we had to build a music
gallery and reception and retiring
rooms for ladles. It was hard work,
but when It was all over the conven
tion gave me a rising vote of thanks.
Chicago guaranteed $75,000 for the con
vention, and the actual expenses, I
understand, were about $69,000.
"When the National Committee meets
in December It1 will hear arguments
from representatives of the various
cities which, want the big meeting and
find out what ach has to offer. Then
It will go into executive session and
decide the matter." "
DEMOCRATS AND THE EAST. '
Likelihood That They Will FlRtat tlie
Presidential Battle In This Section.
From Willis J. Abbot's Washington Letter
m tne uoiumbus (O.) Press-Post.
As to the Democratic committee, it is
possible it will be called to meet In Wash
ington about January 10. It will then fix
the time and place for the Democratic
convention. In all probability the con
vention will be held in the East If some
Eastern city can furnish a hall of suffi
cient size to accommodate it. New York
could do It with Madison Souare Garden
and if New York should make an earnest
endeavor to get the convention, there is
little doubt that It can secure It. There
seems to be amongst the most loyal Dem
ocrats today no question but what the
ngnt ror victory will have to be made In
the Bast. Mr. Roosevelt's strenirth is
greatest in the Middle West, and much of
nls personal popularity can be transferred
to laft or to any man whom he mav
select. The point of his greatest weakness
is in New York, and It is there that the
Democratic fight must be centered. Con
necticut and New Jersey, taking as they
ao mucn or tneir political sentiment from
New York, make good fightinsr grounds.
Rhode Island, which has now elected
L twice a Democratic Governor, is a state
tu ue waix-nea ana cultivated. The cor
respondent of a bitterly anti-Bryan news
paper who has spent his Summer in New
Hampshire told me that if the Democratic
committee would pay some attention to
that state, It might be carried. Of that I
personally know nothing, though I have
much confidence in the judgment of the
informant. Indeed the politicians, or such
few of them as are now in Washington,
believe that if Mr. Bryan shall accept the
nomination, or if any other representative
of the progressive democracy shall be
nominated, the place for the hardest fight
to be made Is east of Chicago. New York
is the strategic point, and for that reason
there seems to be something of an Im
pression that the convention will come
Last and that the National headquarters
during the next campaign will also be in
the East.
Lonarworths Cannot Afford It.
From Washington Letter to the Phila
delphia Public Ledger.
Mrs. Longworth has been especially
keen to have her husband enter the diplo
matic ranks, the life abroad being very
attractive to her. It has not been be
lieved here, however, that Mr. Longworth
would aspire to one of the most im
portant European embassies, owing,
chiefly, to the great expense necessarily
devolving upon the incumbents of such
posts.
Mr. Longworth is not a man of great
means. His mother inherited from the
congressman's father a fortune of about
$2,000,000, the disposal of which Is in her
hands. One of her daughters married the
Viscount de Chambrun, who brought no
fortune tothe family.
At the time of his marriage to the
President's daughter Mr. Longworth re
ceived an Income of about $5000 a year
from his mother. Mrs" Longworth then
had about $3000 from her maternal grand
mother, which, it is understood, has since
been Increased to $5000. With the pay of
the embassador ($17,500) this would still
make the combined income under $30,000
a year, a sum entirely Inadequate to
maintain the Berlin embassy on the scale
which would naturally be expected of Mr.
and Mrs. Longworth.
. This is the principal reason why Wash
ington does not believe that Mr. Long
worth will go to Berlin.
BOOI5
QUITE a flutter of interest pervaded
choice literary circles In Philadel
phia the other day. when the manu
script of "The Legs of Sister Ursula,"
and bearing the name of Rudyard
Kipling, was sold by a dealer in curiosi
ties. The handwriting in the manuscript
Is decidedly tfiat of Kipling, experts de
clared, and the story spread that a
hitherto unpublished story of Kipling's
had at last been unearthed. The truth is
that "The Legs of Sister Ursula" is not
included in the author's edition of his col
lected works, but appeared about ten
years ago in The Idler, that English
magazine which has had the editorial
management of both Jerome K. Jerome
and Bobert Barr.
It seems that when Kipling' was living
with his wife's relatives at Brattleboro.
vt., he was in the habit of insisting that
the publishers to whom he had sub
mitted his manuscripts should return tha
same to him after the stories appeared in
print, so that he could compare the
printed accounts with the original copy.
Several of "the returned manuscripts
Kipling consigned to the Wastepaper
basket, and it may be that some thrifty
servant cleaning up the room saw the
manuscript "The Legs of Sister Ursula"
and sold It for a tidy sum to an ap
preciative bookseller. The manuscript
Just unearthed bears this message In
Kipling's handwriting at the top of the
first page: "Return to author. , R.
Kipling. Brattleboro, Vt."
When the Phlladelphians unearthed the
Kipling MS., one literary light said to
another: "What is 'The Legs of Sister
Ursula?" " His frlehd. who originally
came from Boston, answered: "You must
mean, what are 'The Legs of Sister
Ursula.' " The story referred to tells the
experience of Sister Ursula, a nurse, who
to reach a patient had to climb to his
window by means of a fire-escape, as
the janitor of the building had gone out,
taking his pass keys with hlin.
.
To mention Indiana among cultured
circles, usually starts the thought
of the many sons and daughters of that
state who have achieved literary fame,
and indeed there are young writers who
believe that their books are not accepted
by publishers because the authors are not
"Hoosier" born. An Indiana novelist
began the weary task of going tho
rounds of New York publishers to see
if anyone would publish his new story,
but met with bad luck. He felt very
bitter toward New York in consequence,
and on going to the nearest depot said
to a passing ( friend: "I'm goln' home.
Say. I b'lieve I'm the only Indiana
author in New York who can't get a poot
story published here."
Harrison Fisher's new art book is out
and is being well received. It's about
girls and then more girls, of the papa's-got-money
type.
mm
Mrs. Humphry Ward's new novel, "The
Testing of Diana Mallory." begins Its
course as a serial in Harper's Magazine
for November. The fiction serial of Tha
Century in 1908 will be a new historical
novel by Dr. S. Weir Mitchell, to be
entitled "The Red City." This new
novel by Dr. Mitchell Is a companion to
his famous "Hugh Wynne." While the
former was a story of the time of Wash
ington the General, the new one is of tha
time of Washington the President.
Austin. England's present poet laureate.
Is not sensitive, and is utterly different in
that respect to Tennyson. "I don't see,"
Austin recently said, "why literary men
are so much disturbed by criticism. All
great men are not so sensitive. Goetho
was not. I am not."
Miss Isabel Keith MacDermott is at the
head of the Spanish department in one oi
the large publishing houses In New York.
This department practically controls tho
Spanish-American publishing business,
and keeps In touch with every branch of
literary production in Latin America. To
carry on this business a complete knowl
edge of Spanish is necessary, as the
Spanish correspondence Is enormous, and
all Spanish visitors must be met and
talked with in their own language. Miss
MacDermott is English born, of Scottish
parentage on both sides and was educated
partly in Europe and partly In both
Americas. ..She received the Red Cross
medal for ambulance work during tha
Chilean revolution of 1901, and was
thanked officially by the Chilean govern
ment for her good offices.
.
New Boston imprints this week are
Miss Helen Leah Reed's "Napoleon's
Young Neighbor," and "The American
Indian as a Product of Environment," by
A. J. Fynn, of Denver, Colo.
m
Trie second volume of the Humanists"
Library, the "Against War" of Erasmus,
comes from the Merrymount Press this
week, with a preface by J. W. Mackall,
the author of "A History of Latin Litera
ture." and the biographer of William
Morris.
m m
G. K. Chesterton has stirred up a tem
pest among London's literary set by a
recent article of his in which he com
plained of the remarkable absence of
literary names for London streets in con
trast to the common Parisian habit of
giving topographical namesakes to their
literary celebrities. No sooner was
Chesterton's article published than from
all sides came indignant protests. Wads
worth states haugiitily that it possesses
streets named after Dickens, Thackeray,
and several Other great writers, while
East Ham says, more In sorrow than in
anger, that there are to be found in
Its precincts thoroughfares that commem
orate at least 13 authors, all the way
from Shakespeare to Swinburne. -
In England. Sir Gilbert Parker's new
novel "The Weavers" stands first In a
recently issued list of - the six most
popular stories of the year
-
There were 217,715 readers who last
year used the New York City Astor
Library. The number naturally gives
rise to the supposition that the institu
tion Is increasingly popular. A different
story, however, is gathered from the
complaints which drift into newspaper
offices as to the conditions which prevail
in the library, and from the authorities
one gathers that the amelioration of
these conditions will come only with the
actual completion of the plans for the
"New York Public Library." and the
obliteration of the present Astor branch,
three years hence.
A Mareblng Sons;.
Algernon C. Swinbourne.
With us the fields and rivers.
The grass that summer thrills.
The haze where morning quivers.
The peace at heart of hills,
The sense that kindles nature, and the
soul that fills.
Wifh us all natural sights.
All notes of natural scale;
With us the starry tights;
With us the nightingale;
With us the heart and secret cf the
worldly tale
The strife of things and beauty.
The. fire and light adored.
Truth and life-lightening duty.
Love without crown or sword.
That by his might and godhead makes
man god and lord.
These have we, these are ours.
That no priests give nor kins;
The honey of all these flowers.
The heart of all these springs:
Ours, for where freedom lives not, theie
live no good things.
Rise, ere the dawn be risen:
Come, and be all souls fed:
From field and street and prison
Come, for the feast la spread:
Live, for the truth is living; wake, for th
uljht la dead. -