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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Nov. 16, 1907)
THE JOURNAL a n iMtl-ltlfT WrWWAPICIl l-uhii.rw -kl ,r mini M-pl -unaar. "f 'V rtmulwlM throuf U B1U M aaeuiMl-claal lIW TCl.KI'IIONE-MAIM TITS. 1 .h . ,. n..,-i.l or 1W Bomtr. Tell bTip.T-l. ,1.,,-rtment yU waal.. .nuirlilN AliVKkllMNO HIrUKKNlAllK Pro.wrk HulWInir ,i"h uttwrlpltua Trr. to to dd' U Uw Uallre BHIr.. nd r Utile. 'w SUNDAY. ,'tM MT ' "" THE JX31KFK KATK CASK. T HE ANNOUNCEMENT that the interstate commi i ( commis sion has advanced tho hearing of the Pacific coast lumber rate ' tact, setting them for December 11, less than month hence, win ue ' most f ratifying to the lumber man ufacturers, and to the thousands of people either directly dependent up on them or indirectly Interested In the determination of this very Im portant case. The proposed In crease of rates bat already amounted to a widespread disaster to this whole region. While the federal . courts restrained the railroads from putting the. Increased rates Into ef feet on November 1, as threatened, ' the railroads retaliated by refusing to accent lumber for shipment east, o the business is paralyzed. Some ' of the large mills, as well aa many smaller ones, have closed, and others will do so, until it is decided that ' the old rates must be adhered to. - This has thrown thousand) of men in the mills and logging camps out of workand inflicted loss and injury upon all classes of business. Hence all this region Is pleased to hear that ' the commission will take up this case soon, and a decision not many ? weeks hence may be anticipated. ( The lumbermen feel confident that .. such, an arbitrary and, unreasonable increase of rates cannot be approved i or allowed by the commission. The commission proposed to hear on. December 11 not only the case against the Northern Pacific and the O. R. & N., but also the case against the Southern Pacific involving the raise of rates on lumber to California points, of particular and vital Inter est to lumbermen of the Willamette valley and southern Oregon. The ' commission has had few more im . portant cases than these to decide. - and the outcome will be awaited with deep Interest by the whole Pa- ; ciflc coast. ' The action of the commission in giving an early hearing in these cases is Indicative of a gratifying ap preciation of their extreme import ance and affords just ground for hope " of relief from the excessive rates which the railroads are seeking to , impose upon one of our greatest in- dustrles. . to lees than $3,000,000,000, which a large fraction Is Idlo, of I situation they hope to gain some bo measure of gratitude from the pub- that such money as is in motion needs to be com nosed of "nimble sixpences" (n order to make the set tlement of all kinds of balances sure and -create confidence in credits. But a disturbance occurs the cause of this one we havo heretofore sufficiently Bet forth and then the percentage of ensh is tne Important thing. Some, seeing or thinking it will become scarce and dear, call In what is due and hoard uutll It will purchase much more than it would .ormally of anything elBe, even of credits. Many depositors, too, easily excited and alarmed, withdraw their monev from banks Just when It Is eeded there, from banks perfectly advent If depositors confidence nd along with It their ensh were not JthdiHwn Just when the bankers cannot In turn collect from their debtors. And no the trouble grows and spreads, and becomes more or less of a panic. A general withdraw al of deposits cannot have any other result, for the number of depositors In this country is over 8,000,000. and their deposits aggregate a vast sum. As there is no possible way of keeping public sentiment always at a normal point, of preventing over- confidence and succeeding lack of confidence, these, financial flurries, with their certain train of conse quences, are; inevitable. But how much of a panic these consequences constitute depends on the conditions and circumstance in which the coun try finds itself. In 1893 the country fell an easy prey to the panic; In 1907 the country will soon fight back anC overcome the panic has largely, dene bo already. Confidence is not so easily destroyed In times like these as In times like those and partly because of the far greater supply of money now. But even now there are indications that under nor mal conditions there is not enough. OKLAHOMA. T T MONEY AND BUSINESS. fUAT THERE Is a present strin- gency in volume of the circu lating medium everybody will , admit, and not a few will say v that such a '. stringency is constant, , has become chronic. Even if so, It '. Is Dot auch as to cause general trouble when affairs move along ' smoothly and normally and when the general tendency is to use and Hot to hoard money. But as soon as a disturbance occurs, as soon as a few crashes happen 'as a result of over speculation of "too much prosper . ity," then "confidence" . begins to , chill and contract and cash to, ills- 1 t appear, and the ordinary credit de vices sink under the strain. ; We all know that actual cash plays but a small part, in point of quantity, In the daily transaction of business, but there must be. a per cent age of cash, and without that tbe great credit bnlk that rests upon or. Is tied" up with It trembles and totters. For the year ending Sep ' tember SO, 1906, the average dally . clearings In New York amounted to $342,422,772, and the daily balances were settled with $12,648,914 in cash. In 1895 the proportion of '.- cash used in settling daily balances , was 6.7 per cent, while last year it ;,' was reduced to 3.69 per cent. That is, the system had beemso perfected that last year the daily bank busi ness of the metropolis was so con ducted through the medium of clear ing houses by means of checks, ; drafts and bills of exchange that It required less than four cents on the . dollar to give everyone a cash settle . axent, Nearly everybody owed near ' iy everybody else, and one dollar served to settle oyer $25 of debts. The whole country has to do "bus iness to a large, extent in this way, ' or else It would need many billions of dollars of money. In 1906 the various clearing houses of the coun try adjusted exchanges amounting to nearly $158.000,OOMOOr; while our 'utire tuouey of all kinds amounts HIS IS the day when Oklahoma comes in, when the union Is In creased to 46 states though . the additional star will not ap pear on the flag till after July 4 next. Oklahoma comes In with a far larger population and far greater wealth than any state of the woet had on admission. It comes In with a far different constitution from any of them, one so regulative of corpor ations, so restrictive of exploitive combinations, so socialistic, as many view It, that its career as a state will be watched with peculiar inter est. Many statesmen, including the president and Secretary Taft, think that Oklahoma has gone entirely too far in this direction, that its constitution-makers have undertaken to do a great deal that should be left to legislatures; but the peopfe of that territory had closely observed the farces performed by the legisla tures of other states, their failures to serve the people well, their per sistent and universal faults both of commission and omission; and re solved 'to frame up a constitution that would give legislatures small chance to play them false. How well they have succeeded time only can tell. The president having decided to let Oklahoma come in, she will be welcomed as a new sister state throughout the union, especially In the west. Boston may elevate its frigid nose a little, the far eastern states may bestow no more than a formal and suspicious greeting; but throughout the west and south the new state will find a big group of warm-hearted sisters to give her a cordial and genuine welcome. If Arizona and New Mexico could agree to unite and come in as one state, they would probably be ad mitted aoon also, anh then the Am erican territories, as to the contigu ous continent, would be things of the past. But Alaska, Hawaii, Porto Rico and the Philippines will give the government territorial business for an indefinite time to come. lie, and start in upon an era of now rullroad control that will be Tess openly obnoxious but ultimately no less disastrous to the country's In terests than has been the Harriraan regime. It will be a carefully thought out and quiet campaign against further encroachment of government regulation of railroads and large industrial corporations.' That there Is or will be somo such movement seems very probable, es pecially as railroad .stocks are now down to bedrock. But it Is too late fully to consummate tbo plan out lined. It will be something gained to deprive ilarrlman of power, but the country ls'not going to trust to Rockefeller et at. any more than to Ilarrlman. The time is about at hand when no possiblo combination can be big ger and stronger than the people of the United States, bent on securing a "square deal." only unpatriotic, but unwise. I be Here thatlf this money of the coun try, wherever hoarded, were at once put back (o fulfill its functions In the channels of trade, there would be within 24 hours an almost complete resumption of business operations.' THE HIGH TARIFF GOD: HAS RE CEIVED A HARD JOLT Small CL MORK MONETARY' DOGMATISM. A GAIN WE hear that gold is an undoubted, absolute, sure, right and only money stand ard, regardless of Its quan tity ajmply because It Is gold, as if It had been so ordained by the creator of the universe. We were told by like authority some years ago that unlimited coinage of sil ver would, drive out gold, which was true, but It seems that gold goes out to an annoying If not a disastrous extent when there la no movement for free and unlimited silver coinage, or for greenbacks, or any other "flat" money. There is twice as much gold for a money base as there was 10 or 11 years ago, and it is holding about all the subsidiary money it should, and yet. In a time of great prosperity and when values are high and money comparatively cheap, there are symp toms of a panic, and money, espe cially gold, goes Into vaults and stockings. It this Is happening now, what would have happened un der the gold standard If the sup ply of gold had not increased, or had Increased but little? Some of the same wiseacres who . from the Nw York Even In Post. People are beginning to write to the newapepers to ask If this Is to be known This sort of talk by Mr. , Cortelyou I ti'e "Roosevelt panto." That Is com may do a little good; at least he has Pa'aHely unimportant- The . certain Li. a . - . , - i nv si j a ii inbuilt HUMS im jibs, it w Ata svw done his duty In expressing himaelf known. a Republican and I him Urlff thui The governor is to be congratu lated en discovering, and announc ing, that the holidays are not quite so bad as bad been generally sup posed. Considerable public business I tonn ot. can oe aone in spue Ot mem, lor lowing, aqua rely to charge up the en ..ki.i. i u. . i i.i tire aocouniauintr to tna party in con u.i.u u,au, i..aun.. i .ow . . . f M .,.. -ovarnment Not needed providing that in case of any I one word did they utter about the hand i i v .v i. , I of Ua Lord having been heavy upon the more bank holidays the courts shall I country in crop failures: not a syllable an ahnari wlfh tholf himtnAM luat th wa admitted about the unwlee fiacal go sneaa Wim tneir DUBineSS JUSl tnei niaura. an lh dlahonaat allver lec- lalatlon. for which the Republican pert panic. Protest as Repebllcana may, they wlU be held responsible. . And It 111 be not only noetlo but political juatlee that they atftuld be. Out of their own mouthe. the Repub lican party and , tne uingieyitea win atand condemned. They fixed In 18M the tandard by which they cannot es cape being Judged. In the party plat orm or that year, they referred to tne anic or and tne nara times roi tire accountability to the party in con- same. Banker Walsh "used bad Judg ment" to the extent ot many mil' lions of other peoyi s money, hence, in. anuruc. iu a,..M "precipitated panic" and "halted e crime. Still people must be careful prl.'' And the political Inference W I atalail a4 HvnaAllaaa Ina) a 'VwSiIV ' iiorva iv inv p T y 1 T 1 administered It Letters rrom the People nNop"Pna,tt3,'r' was directly reaponalble. and which all Impartial atudents of the time agree had a great deal to do with the 'finan cial disturbances that came later, no; evervthlne waa charted ud to the lm beetle government It wae the Demo crats Administration which, the Repub licans fervently alleged in Hie, naa naiieu enter wae . . . f , s in v ! siaiea wun morciiess luaic n,yrj cwn about "using bad judgment' When alderatlon of public safety and Indlvldu handling a few. dollar, or cent. 1 ki'S'aVK lonrlns to somebody else. I have shown themeelvee Incapable of atored to the party which for 10 years t with unequaied suoceas re the ReDubllcana going to in when the Democrata hand them Unjust Criticism of Mr. Steel. back their poisoned challcet What- Portland, Or., Nov. 15. To the Editor the Urlff aw an infallible and magical of The Journal Believing that The I creator of wealth and guarantor of proe- Journel is always ready and Impartial P"tyT A great emergency nae come. n presenting both -Idea of any public av wnat ver. u w t0 kwp u .n matter, I take pleasure in addressing I rich and prosperous. If any man talked his open letter to the publlo through about laying a raah revising hand upon .. 1 I II. IW ra uruuuntcu aiivt It eoema to me that unwarranted and uncalled for criticisms may be made In times of mibllc atreaa which upon 4ii ore mature ueuoeraiion wouiu im can tdiler ed at leaat unkind. The manv criticisms which are being hurled at our state treasurer, Mr. eUeel, would seem In most Dart uncalled lor, or at least we should not look altogether at one side of the question, and the (instant reiteration of the liability to arrest and prosecution would seem quite premature. 1 doubt ir there is a man in tne atate. even thouch he be a stranger to Mr. Steel, who will accuse htm ot wilfully and knowingly committing a criminal act. and to those who know him. he ii fne of the most highly honorable men la the state, or world. Having had the honor and pleasure of many business transactions with Mr. Steel, 1 can truthfully say I have never met a man in my bualness transactions of whom I would as readily say "his word Is aa good as his bond. squelched, aa President Roosevelt waa. lest evea to Question the supernatural virtues of 8t Tarlfa might cause her all be miserably ruined. It la in fact, an extraordinary feature of this period' of apprehension and panto that no mortal man has, to our knowl edge, thought of the protective tariff aa of any help whatever In the time of trouble. Yet if there ls.s word of truth In what has been said by Republicans ill these veare. the tariff Is the flrat thing everybody should have been turn ing to In the oriels. Is It not high cus toms duties which keep wsgee high and everybody employed, make the trsde balance favorable, and etuff the banks with money! Bo we bad fondly believed, At the flrat alarm, however, the Re- nuhlW-ana Arannttif their tariff - fetich. I'liey had not even the oonalstency of the worshipers of Baal, who etood by thalr Idol even when It did not seem to What angtf Cortelyou found It easier to dig up a Campaign fund. a ' : ' What Barkis said to Pegotty, Bryan says to Mlsa Democracy. , , e , without making much of a noise. There are even people who complain about a long succession of holidays. ' . e e ' The person whose hidden money la burned or stolen will get little sym-, K Anlnw flu wnrk wall. ' Whit Wi hmiM Cava wltnaaaad these nast few I Cathy. weeks. If Republicane have writ their I ' prosperity annate true, wae a loud de- I Finland has acted lust like Oklahoma in an a for e higher tariff' our only I and other parts of Uile country; It has salvation, as in lsve, tne nepuonoans i iun ury, anouid nave iniitatea tne propneis 01 RaaL cried aloud J and cut themselves with knlvea and lancets, and from morning until noon called out, "Oh. Tariff, hear us." One reuson they did not may possibly have been that they feared lest some fieetradrr Elijah might stand by and mock them: "Cry aloud: for he la a god; either he Is talking, or he la pursuing, or he la In a journey, or peradventure Me sleepeth, end must be awakened." Rut Rami was respectable object of worship compared with the tariff. ilt stnn raj. aitnalhla nntiillnana hava never believed a thousandth part of the! ball; bullfights. nonnenae aoout th tartrr aa oar soie - - hope and stay. They have thought of Since Kentucky went Republican. Col- it aa a iava nniiihai iinin n diiaia I onel Watterson haa less hoDes than ever on their party as the only one that can of the country's salvation. , make the nation prosperous by means I of protective taiea. and have only hoped I Mrs. Bradley deserves acquittal quite tnat tneir good lues in avoiaing names i as much, at leaat as a good many otn would keep on. The panlo of 1I9J was I an did who.have been acquitted. And then nerhaos vounar lfelns wanted to make' the number . of varieties of plcklea 61. Russia la a country of tragedies, but It Is having the third run of k farce the douma. e e Dr. Cortelyou seems to be doing what he can for the country's trouble poor circulation. ... , e a Mexico Is building a coliseum that 111 hold 11.000 people. No, not foot- really their panlo. but they ran end left ! It on Cleveland's doorstep. Tor some time past, they have been praying thst the good times might not fall till after the next presidential election. This shows how they have thought Of the whole thing aa political. Rut now their panlo chlckene have come home to roost litre we are In an "off yeer: the little talk there le of tariff reform comes mere from Republicane than lrom Democrats: no polltlral bugaboo can oe anegea to re interrenng wun the beneficent workings of the high tariff, yet It la visibly falling to do what Its champions have Vowed It al- e e Tom Johnaon says he Is for Bryan, but he doesn't consider It necessary to attend that 1 banquet to prove It. e e Portland Is Inclined to think that a policeman who shoots a drunken man without provocation doesn't Sultter. a Don't blame the police too much; probably they don't read the news papere and ao don't know of any crimes. e . a People alwaye want money most when they can't get It. And moat peopis wave would da The advance arent of I i ii.htav whan others most prosperity has been replaced by the bill " . '". r. v " he pi have. It haa at leaat dealt a death blow to the tariff superstition." Perhaps In no other way could we .have got rid of It Hereafter, any man who uses the argument tnat you muat not aemana the abolition of tariff outrages, sine. A couple was married the other day who had been courting 1 yers. Ana ii Is doubtful If he is very well acquainted with her yet If you hear any mysterious rumbling ....!.... inmnrNn. don't ret scared : i you oo, you win imperii prosperity, I i, ni bs caused by Okianoma comma rill be laughed at. The way le at laat I .0 ., union. live autiee in etateeman-uice raanion. unquestioned and we are most severely tried, when our simple word is giyen. I have seen the test applied and Mr. Steel waa not found wanting, though In this instance there Is not even the claim that he la f vor. D a.r.nt tfc m.anH. Personally gainer which he certainly is A V. J vui o J v uxswuvw v w va. u v a ; f tatlvo theory ot money, and even contended against the necessity of an increase or money, nave lately been wildly calling for more money, though the per capita circulation Is officially about 50 per cent greater than It was then, and they are among thpse who welcome bank cer tificates based not on gold but on products or any other good secur ities. We know very well that free and unlimited coinage of silver was a desperate proposal, but the country and the world were lnea desperate monetary crisis a dozen years ago, and no better remedy was proposed. Increase of money saved the world from a silver basis or bankruptcy, or both. As the Boise Scimitar says: "The world's prosperity has been enhanced by an inflow of gold since 1896, from the mines, quite equal to the total amount of gold money then In existence in all the earth. Thus Is demonstrated the truthfulness of the contention that a doubling of the basic money of the world would make for the pros perity and progress of the world." For now, despite the financial flur ries, the country Is really prosper oua, and progress has been and will be scarcely checked. This would liavo been impossible, unthinkable, without more money, and more gold for its base. Are We Immortal? By Maurice Maeterlinck. Do all things end with death? Is there an imaginable after-life T Whither do we go and what becomes of ua? These are questions which have been asked since humanity began to exlat. tut during ail the past centuries It has not advanced a single step toward the solution of this mystery The most active and searching in qulrles of late years have taught us nothing. Learned and conscientious The people of Oregon, both Democrats piychlcal societies have got together an and Republicane. elected Mr. Steel be- ,,..,,. i.1,t.Ki .,. cause bla honesty and Integrity were whe imposing collection of Irrefutable facts which prove that the life of the spirit ual and nervous being can continue xor a certain time after oeain 01 tne '-ma terial being. No alrtcere mind now dreams or aenv Ing the possibility of these facts be In suoDorted by documentary and oth er evidence as conclusive as mai which serves as basis for our rirmest scientific convictions. But all this merely removes by a few lines, by If he has made an unfortunate mistake or shown bad Judgment, he is only one of thousands who nave been mieieaa, and wno nave trusted in the stability ol banks wnicu finally proved unsound. It would not seem consistent to say. political affiliations contributed to our Lank failures, nor to advance knowledge or their insolvency. The state has not lost anything yet. as it has not been decided whether the few hours, the beginning of the rays security taken by Mr. Steel Is to be - regarded as legally a valla be. or whether if the spirit of a person whom I love. lilt) oonaini company will leiuue mi., ... ......i..k and nvtrlentlv an mane good any oeiiciency arising irom - K-. that T aririrea It should me iauure. in iaci 11 iooks ime u case i - ,k h vjrv mn. of climbing a hill before It Is reached.. when the soul "is leaving the body, t"erVer.LorJ",Ana.l.."r- Di' nerhana a thousand miles away, this IIBO LL4 HUV tat bvovij BaaDtnua aa a. u n i T a i s . a 4aias at aa aVSPv . i. a . m a i I i si innraa very bli aiiKu, juoi e state there will then be time enough to thing Js strange . In a worl d of which see if there are any loopholes and legal i understand not even the first word, inhnin9iiii. to um v a man frnm rnn. but after all, It shows only that the :.i;;V' i, v . . i r .m.t th anlrlt the breath, the nervous ...u . !, .v.. .uni, I mH Indiscernible force of the subtlest I ll.'ft 1.V ,iu w , i ' . wan. 11 a evll'fi u I wi- , It.Alf fall, and tnat w. M. L,add waa not re- pan or our nui l f sponsible. it reaiiy seems strange irom ui. nunv " someone did not notify him doesn't It? stant just as the flame of a lamp which a a m n a u.m falntad recently Just be- without having to face the abuse and for, beginning a performance. Now prejudice end Idolatrous Ignorance c. anybody Imagine anything that which have for yeara mad It difficult couid have oaused that? iv uva.t wim ins tariifc iiaa rauvnai men. i . . -nr,mA nnn eomnoa ere ght. In tLe Day b News By Wex Jones. mentis man should take to holding people and assaulting young Slrie. tn lia possibility that W might be caug a a The Arkansas Judge decided that un der riven circumstances a "". London. The Bnanlah roval hahv haa I ,'rf i.v,.a at her hubsand. . , . r im iv iiiiww v . . , made a great hit here. Londoners are It was probably Judicially assumea ma she couldn t nit mm 10 nun. a e Tom Johnson having declined to at tend the Kansas City banquet. .that ex tremely eeneltlve. frntleman Mr. J. J. Hill, can go and taia f'"V. "'"i'r'tr: peculiarly taken with the cute way in which the youngster says "goo-goo" In Spanish, few babies of his age knowing anything but Engliah. It Is said that he will be a bullfighter when he grows up. Instead of being a king, thus ensur ing him safety and a smaller lnsunce premium. Torrlngton Several persons nearly saw Weston aa he walked through the I J -cent fares to his ownerehlp and heart's content. m The Democrats national committee will be called by Tom Taggart to meet SVench Lick' Didn't, we rea . awhile ago that rencn uIVY: ",hin Each of us would appreciate kind words and kind deeds during life, but they are too often given when too laje to cheer up. But this seems an opportu nity to speaK at tne rignt time. in. Q. WALLINO. SAME BORT OP SAVIORS. N' EW YORK dispatches, pub lished In The Journal, report a combination of great rail road magnates' and financiers, formed to control most of the rail roads In the country, and also to In sure financial stability that is, to 6ontrol the monetary system. At the head of this combination is Standard Oil and it includes the Rockefellers, Morgan, Hill, Kuhn, Loeb & Co., and others, while Ilar rlman, the report runs, though In the combination, has been practical ly eliminated. It is the purpose ot the organizers, it Is said, "to make a united stand against the so-called Roosevelt pol icy, under perhaps a more discreet leadership than that of Mr. Harri man. By restoring ' good business conditions and easing the financial natever may De decided, or thought, about MrB. Bradley, few will commiserate the fate of her vic tim, whose cruelty overshadows- her prior faults. In his dying statement he pointed to her as the woman who had troubled him long, but he seemed oblivious to the trouble he had caused her. For her he deserted his wife, and became the father of her two children, and then, when he had tired of her and wished to marry another woman, he regarded her as a burden and hated her so much that in his will he totally disinherited his children by her. It la Impossible that all this will fail to have an In fluence with any jury with warm blood In their veins and a sense of justice in their hearts. Dog License Not Abolished. Portland,. Nov. 8. To the Editor of The Journal Will you kindly answer through the columns of your paper the following question, which no doubt will interest other readers as well as myself. During the state legislature I noticed a law was Introduced aiiming a doe per sonal property, then making it exempt au 0f them, at that moment when irom ciiy license, ana oniy budjcci 10 state license. Will you kindly tell me if the law waa Dianed? A BUBHCKIBER. The law referred to was passed at the last sesnlon of the legislature and was filed with the secretary of state we hlow out becomes detached from the wick and floats ror a moment in mo riflrlrnARa I admit tnat tne pnenomenon is an intar.annff ana asivnisiuiiK viia. but given the nature of that spiritual force, we ought to' be much more as tonished that It IS noi proauceu more frenuentlv and at wllL while In the fr.m nt Ufa. In any case It throws no light upon th nuaatinn. Never has a single one of those apparitions appeared to have the last consciousness 01 new mo, of an eternal life, a life different from that It haa lust left. On the contrary, tne spiritual lire or of them, at mat moment wnen n ought to DO pure, since ii 110 ucon nu eraten from matter, seems vastly In ferior to what It was, wnen sun in the flesh. .... Mnat nf them. In a Kino or somnam bullstic dullness, pursue mecnanicauy th most lnslgnllicani or rneir usual February 25. It is to be found on page preoccupations. One looks for his hat, 257 of the session laws for 1907. Ill Li.i. ko- i m a chair nr thl purpose of the law was to clear the con- another j, worried about a small debt structlon of the criminal statutes and l'inum to know what time it is. make it possible to prosecute easily any A(id a moment later, when their real S::L80V t0 begin, they all evap- dotr. According to City Attorney Kav anaugh, the passage of the law does not exempt any dog from municipal tax or otner regulation.! Good for Secretary Cortelyou. "It Is a tlmeV'he said In addressing the Merchants' association in New York Thursday evening, "when every cit izen should assume his share of the burden. The hoarding of money, the execution ,of unnecessarily harsh re quirements in business dealings, re tard our return to normal conditions. The .hoarded money should he put back in the banks and the exaction from bankers and merchants! should be proportioned to - actual business necessities. To do otherwise is not; Henry O. Davis' Birthday. Henry Q. Davis, who wae the nominee for vice-president on the Democratic ticket In 1904, was born in Baltimore, November 16. 1823. At the age of 1 tie obtained a position as a brakeman on I ho Baltimore & Ohio railroad. He was quick to realize the possibilities of what was then Western Virginia, and ho took advantage of his insight so that when the civil war broke out he was a man of means. He accumulated a large rortuno in coal, on ana timber, in rail road bulldlne and other enterprises. Ho then turned his attention to politics. in i8s ne was elected to tne west Vir ginia legislature as a union-uonserva tive, and two years later waa chosen state senator aa a Democrat In 1871 he was elected United States senator from West Virginia, and before the expiration of his second term he had become one of the Democratic leaders in the senate. Mr. Davis served an a delegate to seven of the national Demo cratic conventions. He was also one of the United States delegates who formu lated the scheme for bringing the re publics of the north. Central and South America together, which resulted In the establishment of the bureau of Amer ican republics. This Date in History. 1093 St Margaret of Scotland died. 1315 Swiss defeated the Austriana at battle of Morgarten. l68fl Treaty of neutrality between England and Franco for America. 1715 The Barrier treaty concluded at Antwerp. 1776 Brltlsbi under Howe attacked Fort Washington. 1828 Timothy Dwlght, former presi dent of Yale university, born. . 1846 Cracow annexed to Austria. 1864 General Sherman began his march to the sea. Generally I From the New York Times. . A fellow generally talks through his hat when he la full to the brim. i a dlBSDcear forever. Rviiientlv this rroves nothing for or against the possibility or tne arter-ure. We do not know whether these brief ap paritions be the first glumness of a new or the last of the old existence. Perhaps the dead continue to live around us, but fail, in spite of all their efforts, to be recognised or to give us an idea of their presence, because we have not the organ needed to perceive them, even as all our efforts would fall to give a man blind from birth tho slightest Idea of light or color. fn anv ease it is certain that the re searches and labors of that new science of the "Borderland nave reu tne prob lem exactly where It has been since the bearinnfng of human consciousness. We are still asking ourselves, "Are we immortal?" 'Without Are Dogs." If. through some wondrous miracle of city. Had he been going a little slower What kind of a place la that to whicn he would have been distinctly visible. ,nvUe Democrats T Experts say that If he keeps on at tbe , .k same pace to Chicago he will have to A cashier In a New Tort ban nas shoot on as far as. the ainna nt th nf "myxedema, a disease super Rockies before he can pull up. Induced by long contact wltn Pap" Tnrrt.tBs... uLi I ... o mnftt neoole are trouoiea than ever this year by the anlmala of with nyxedema. If that la a right name Tint most people are irouuirv the north the reason being that there for too little contact with money. Of cgon Sirllciglits Estacada will have a new business building. . . Wild geese are stlU plentiful around Arlington. . An effort Is to be made to exterminate Many carloads of alfalfa are being frnm Ml ton or wuuiu uo are fewer Of tha animals. Rear, and beavers who have shaken the summer moth balls out of their furs complain bitterly of the ravages of the moths, which are rapidly learning that where there is camphor there Is sure to be something good. North Pole Having successfully eluded all amateur searchers and profes sional detectives during the past season, the Pole will take a much needed rest durlnr the closed aeaann. Tt la aaM hv those on the Inside that the Pole has rats In Albany also piciteo out an unusually difficult hiding place for next summer. London Interest In American affairs continues .unabated. The Times pub lishes two columns of cable matter ran. eerning the feat of Weston in walking to Chicago, and asks sarcastically why he didn't take a trolley. The Dally Mail has a lone editorial dennunnlna- America's currency system, pointing out mm a coumry wnnoui a tnreeoennv lece can never be on a firm basis inancially. The ExDress Hava that New York, which calls the Underground a subway, can never hope to take a place In the sisterhood of world cities. On the other hand, fhe Chronicle points out that the American Is more thorough. there being no half-and-half measures. I as anywhere avan In that mihlln hnnaaa I Washington President Roosevelt's Work on the California Northeastern nnnltlnn 1. al.n.la. VI. .l LI n.J 1. Kalna- nrnieCUte1 Willi ID" has not made a srieech. declaration of newed vigor, notwithstanding the nanu. "nis" policies, or written a message In three days. . It is feared that the words may be accumulating In the system to a dangerous extent London Punch publishes a good Joke this week: Young Man I am broke: Where's the best place for me to go to make a stake? Editor Hamburg. Note Hamburger steak f stake). Ed. Punch. enough cars could be obtained. Lebenon has raised $6,000 towards bulldlne-' a cannery She expects to raVse the balance of the $10,000 required. That Albany handles more mall than any other valley city outside of Port land Is believed to be a fact ' the Herald. , , i xrKru.Ua hrlrVmaker has been look ing over the field around Astoria, and says as good blck can be mude there ky feeling in financial circles, says the Klamath Fans Meraia. Fall sown grain la going to be very large In acreage ln4S year saya Oervais Star. The spfend Id weather prevailing has enabled the plotjs to keen a-golng and hardly any farmer haa overlooked the opportunity. a Gervals Star: Celery can be grown in this section to perfection, and Is a prof ltable crop. 8. H. VanTrump. on Pud ding river, near the Cllne bridge, haa . .la .aalorv flnrl HimnlleS t- j tv. .jjiti... wi-u .... n aero ui iumi, w..., - in ucaviiuuiM me auumuiia wm;ii mo rtprvais and Woodbum. no says A Famous Old Library. belngmade to the library at Harvard university, Oore hall, in Cement Age, E. S. Lamed gives some Interesting facts regarding this famous old Insti tution. The nucleus of the college li brary was the little collection of 260 volumes bequeathed by John Harvard in 1638. Of these original volumes, how ever, but one volume now remains, the r. it roduces well, and that a ready "' .. Ua (nt Anrisi s had ror an ne can biuw. i.A.aa.inir thn nercaee until ne nas a large field. Medford Tribune:, O. K. 9.Vnn.5',nv'l? owns what he proudly terms the finest pack of varmint hounds In the coun try." has been engaged by an organisa tion of sheepralsers near Sllverton. Mar lon county, to hunt down and kill coy- in tnar vminiiv. wncic mj , w arare. Tn th nnlestlal city I might win. And find upon the golden pavement place, Th. an tea of nearl within. In some sweet pausing of the immortal To which the choiring Seraphim gave hfrth. Should I not for that humbler greeting long Known In the dumb companionships or eartn i Friends whom the sofest whistle of my call Brought to my side In love that knew no aouDt Would I not seek to cross the Jasper wan If haply I might find you there "Without 7" Edward A. Church In the Century. Even the First. From the Chicago News. "It Is no use of talking, pal.' said Timothy, the bootblack, as he glanced" at a passing wedding party. 'I'm going to be a bachelor. Women are too expen sive." j "Dat's right, old sport,- replied Dicky, the neweboy. "Why, even Eve cost Adam one whole bona-", I ntas rest be4ng destroyed In the fire of 1764, committing numerous deprecations, at by which time the library had Increased $40 per head. "If the coyotes are as to a collection of 6,000 volumes, the thick nt'ldaSId tfmeaald r ' Quine! moat valuable In this country, and their ..ft. hi h lust like finding money."- I . . n ... " - Origin 'of the Panic. From the Omaha World-Herald. The four great banking . institutions In NeW York belong to what is known c ton An 1-4 Oil crowd." iney ara . i.u la. baii destruction was regarded as a public calamity. The history of the library from that day to this is a record of generous gifts, both great and small, from lovers of learning In this country and in England, and the library soon surpassed its former else, so that by I7QA it hoii inrafiiAii ia annnr iv nun I . volumes. Among the early contributors. the National City bunk, with ,193,900, alter jonn narvarn, are rouna tne 000 deposits; tne r... vi. names of Peter Bulkley, Governor Win- mVrce, with $l.00.000AenPnOSlAtAg; .th5 throp. Sir Kenelm Dlgby, Theophibus First National with $107.000.00 and Calo, Thomas Hollts, .Governor Bernard, the Park -JJatlonal. with $90,600,000; John Hancock, archblshopa Cf Canter- Then there are eight, great trust corn bury and York and George Whltef leld, panies which are banks that do a bank who by his influence, jwocured large fng business practically without re numbers of booka from others in Eng. e?ves. They are-the Farmers Loan & land. In June. 1776. when Cambridge Trust company, with M8.000.000 depos was occupied by the Continental troops, tS; the Knickerbocker with $70 OOO OOO; the. library was removed to Andover, the Central, with $67,000,000, the United and In November of the same year, a states, -with $65,000,000; the Trust Com part of It wag taken to Concord, to pany of America, with $6 1.000.000. the which place the college had been trans- Union Trust company, with 58,opo.ooo ferrert. The faculty and students re. tha Maw York Guarantee and Morton, tin-nun- tn Cambridge In 1770. but it waa . ith R noo.000 each. In those instl- not until iv le tnai me uuuks were re stored to Harvard hall. Here the li brary remained until the erection of Gore hall in 1838, which was in part built from the bequest from Governor Christopher Gore, made In 1829. . In 1877, enlargement was necessary, and the new east wing was constructed at an expense or iuv.vuu. twenty years later .the need for further enlargement was met by remodeling the old Gore halL and It is interesting to note that at the -close of 1903 the collection of books In Gore hall, ' together with the departmental and special reference' li braries of Cambridge university, - con sisted of 60T,loe-volumes. From 16,ooo to 80,000 volumes are ordinarily added by Ut and purchase each year, u v-, . , tatlons was concentrated almost exactly 81 000.000.000, and there was whore the trouble began. The trust companies were competitors of these and other Standard banks. The panic began witn a- fight between them tor business, and the Standard OH methods were used. It did not work aa well as when a little Independent oil company was to be crushed out It worked something like the "Sbject lesson" of 1893, and the Standard Oil crowd found thomselves-in the same predicament as the bankers who tried that object lesson Th concentration of $1,000,000,000 In the : hands of a email coterie of men. sub-, ject to passions cultured In Wall street, V has proved to be a very , dangerous thing. ,- ' i- v t v ,. . . 1