The San Francisco Call. Newspaper, August 9, 1896, Page 23

THE SAN FRANCISCO CALL, SUNDAY, AUGUST 9, 1896. 23 THE HISTORY Most Complete and Gomprehensive Work of lts Kind That Has Appeared--The Finan- _cial Question MRS S A HISTORY OF BANKING IN ALL OF THE | LEADING NATIONS. Complled by thirteen | suthors; eaited by the editor fof the | Journal of Commerce and Commercial Bulletin. Four- volumes. New York: Journal of Com- e and Commercial Bullein, publishers; e, complete, As a contribution toward the elucidation of the currency and banking questions, now oc- cupying the earnest attention of the American Nation in particular, the work before us seems to be of inestimable value. It includes twe separate histories, written by thirteen authors eminent as economists, literati or practical , and the 1dea has been to treat the | 7 of banking in each cc from the liest periods up to the most rece: | ork has involved an enormous amount | bor and large riary expense, and it | stands out admittediy as the most complete and comprehensive history of benking that has ever appeared. It p: ts the banking verience and the banking lessons of the ritain, Russia, France, n d the other Latin nations; | inavian nations, Germany and Aus- Holland, Canada, Alsace-Lor- Jepan, in a connected series, nd all treated by the highest authorities and | st careful students of the subject in their | countries. In & prefatory mote William Dodsworth, says: mes seem to appeal to our mists, our bankers and our zens at large for & candid and thor- | examination into the instrumentalities | ugh which the exchanges of our seventy mil- | 1ons of ve population are transacted. The blishers of this work concelve thatope of the ids to such an Investigation must lie in an | sed study of the banking and monetary sys- tems of all nations as developea by a continu essive experience. These volumes are de- 10 encourage ana assist such education. | William Graham Sumner, professor of po- litical economy at Yale College, is the author | e *History of Banking In the United which takes up the first volume. Itis esting to learn that the money question is country has been struggied with con- | nuously for nearly three centuries, begin- ning with the first settlement at Jamestown, Va., and going on with variations ever since. . he doctrines of currency,” says Pro- | mner, “have to be learned over again ten or fifteen years, if, in- learned at all. From the settlers at Massachusetts the country has never en- i peace, rest and security the Seand tria-Hur ts of our of Professor Sumner has adopted method. Periods of about ve been taken in which the | n arranged under each State the two banks of the United States hin two of these veriods and being | along simultaneously. Thus the after learning what was done in Massa- in a given period learns what was | of the other States in the same period. Then he comes back to Massachusetts for the next period, and then to each of the her States for the corresponding period. This arrangement hes its advantages i itg us a continuous social histors United States in so far as relates to the money tion, and the reader will be surpris how large & part of our social history is embraced in that question. Yet it has one marked disedvantage, that the reader’s atten- tion is frequently interrupted, and he becomes | rburdened With facts which he cannot assimilete uniess he is an expert in monetary sclence. An ides of the amount of labor embodied in this book may be formed from the fact that the session laws of all the State Legislatures | south and west of Maryland have been exam- ined, and not only the features of all the gen- | eral banking laws in the Union, but the dis- tinetive features of all separate bank charters, | noted. In addition to this compilation all | court decisions of any importance touching | the banking laws are referred to and guoted | so far as meedtul. All secondary authorities | of importance, such as State hisiories, diaries, biographies, Niles’ Register, the works of Gal- latin, Gonge, Raguet ana Matthew Carey, de- bates in Congress, records of lawsuits, besides many newspaper files, have been brought under contribution. The distinguished Yale economist is an aa- | herent of the *“currency principle” as distin. | guished irom the “banking principle,” i.e., | he believes that bank notes should be issuea | against deposited securities, and that the | greater or less amount needed at particular | times and seasons should be supplied by gold. | This is the Bank of England system. It is also | “the National banking system. He acknowl edges that such a system can never be elastic, but he does not consider that elasticity of a bank note is desirable. The reason is that benkers would inflate and contractat their own pleasure. In tne second volume of the present series by Henry Dunning MacLeod the trary view is maintained. rofessor Sumner’s views of the present Anancial sitnation, which appear in the clos- ing paragraph of the initial volume, are here quoted in full: A: the moment of this writing the turmoii and contasion, the conflict of opinions and projects, the ciash of political schemes in and around the currency, are as great and mischievous as they ever were, The banks have but a very subordinate share in it and are not to blame for any part of it. Eightor nine hundred millious of paper rest on a epecie reserve which was originally planned for hundred and forty-six millions, and upon & fallacious plan. The stability of this currency has been maintained for two years by arbitrary purchases of gold, Involv- ing & manipulation of the foreign exchanges. Such man:pulation may be excusable under great stress 0 other dangers, but it Is perilous to some | of the greatest and most delicate interests of the | country. Theoretical avd practical financiers must agree that this manipulation isa subject of grave apprehensicn, all the more because it is be- yond the power of any man to foresee or estimate the consiquences In thelr remoter reactions aud OF BANKING more extended complications. wins time. 1t is no remedy. The operation only When the respite ex- the p: pressive than ever, and com plic: blem is still there, greater and more op- ed with the con- nces of arbitrary interference with oane of ortant and most delicate parts of the em. Inthe meantime, the factions the various dogmas about the cur- d init, and by party in- produced by , by interests e renc trigues 10 prof born. ock. We are in a financial crisis which is be- coming chronic, and which will be soived by a great disaster unless we can rally knowledge and statesmanship to deal with it. The second volume contsins a history of bar n Great Britain from the competent 1f no sound measures have been adopted, | oy it, have grown fierce and stub- | They exhaust theirstrength in making & | ANMMARION’S MEDITATIONS the Translated from the French for “The Call.” M I really left deserted? Impossible, for thou art everywhere; thou art in the hearts of all men—that is, at least a little spark of thee, at least a ray of thee, the q sun of love and goodness, illuminating the b spiritual world which touches men so nearly and yet is unknown to them. Still less, then, am I de- serted whom ' thou hast watched and guided, depressing, crucifying, mortifying what is human in me, and nourish- ing that little portion of thee which I call my soul. am never, for I know that thou dost never leave thy work H heavenly fire Deserted I unfinished, and I know also that I cannot escape from "thee, even if I would, for where should I flee from thy presence? Thou art everywhere, like the air we breathe, like the celestial ether which unites the universe, bearing rays of light, heat, attraction between its myriad orbs. Ed Grant me, O Father, again a little glimpse of thee—a little token of thy presence—for in this outer world, this material existence, nothing interests me or satisfies in the slightest that deep longing which I find in my heart for thee, for thy love, for the life divine. When I look at myself, consider my state, all my poverty appeats and all my impurity, Itisasif I had never known thee, never realized the life within, never known that there is another world in which thy love reigns, in which thy holy will is done; a world which touches this world at all points, but is not of it, and indeed diametrically opposed to it. Looking at myself and judging myself this heavenly world disappears, and I am left alone, miserable, empty, without thee. Xf I muse sadly thus, there comes a gentle, comsoling presence in my heart which silently directs my thoughts to nature—that expression of the thoughts, the teaching and the The germinating seed, that universal emblem of the budding spiritual life, finds amute voice to say: “If I look down into- myself I am nothing but corruption, darkness, vague roots which seek the earth and greater dark- ness still. It is not meant that I should investigate myself, or seek the earth, but to look upward, when the plant begins to rise to life in me, where the free air and the glad sunshine give will of its Creator. & o+ * o life and joy to all that is to have a future life in me.” hands of Henry Dunning MacLeod, & history of banking in Russia by Ant. E. Horn, late ed tor of the Journal of St. Petersburg, and a hi tory of savings banks in the United States by John P. Townsend, president of the Bowery Savings Bank of New York. The third and fourth volumes contain the history of banking in the Latin nations, in Germany and Austria- Hungary, in the Scandinavian nations, in Hol- land, Canads, China and Japan. In paper, typography and general make-up the series is superb. The form is royal octavo and each volume contains 500 pages, bound in half morocco. The volumes are uniiorm in size and binding, and the work complete is really a monumental one. LITERARY NOTES. A Tom Hughes memorial fund has been started in England for the purpose of erecting s life-size statue of the author at Rugby. Messrs. Harper & Bros. have in press “Limi- tations,” a new novel by E. F. Benson, and “The Dwarf’s Tailor and Other Fairy Stories,” | by Zoe Dana Underhill. “Wheels,’” & bicycle romance, by A Wheeler, has just been published by G. W. Dillingham of New York. It is a story of two rich girls who take & bicycle trip over Europe, disgvised as brothers. The incidents of the trip are ail | highly improbable and & few of them are | grossly absurd. George W. Vanderbilt’s library on forestry, which according to reports hed been held by the custom-house suthorities for duties to be paid, is already at Biltmore. Mr. Vander- bilt’s secretary paid the duties under protest and the appraisers have decided that aut was rightly chargea on twenty of the volumes. Albert Ross has written a new novel, “Love Gone Astray,” which has just been published by G. W. Dillingham of New York. It 1s the | | | i | \ ‘ \ | | | kind of novel generally excluded from the | household. The last two words of the title are sufficient explanation of the cltaracter of the work, and the same two words will serve to in- dicate the course in this particular instance of the talent which produced the novel. Paper covers; price, 50 cents. “Mr. Gladstone at Eighty-six,” by W. T Stead, founder of the English Reviewof Re- views, will be the opening paver in McClure’s Magazine for August. The paper will deal especially with the conditions end manner of life which have enabled Mr. Gladstone to reach 86 in perfect health and with all his faculties in full vigor. It will also define Mr.Glad- stone’s attitude regarding the recent differ- ences between the United States and Great Brita traits of Mr. Gladstone and his family. The Auzust “Land of Sunshine,” that excel- lent Southern California monthly, contains poetry by John Vance Cheney and Charlotte Perkins Stetson, and & striking story by Miss Lillian Corbett Barnes of Pasadena. Charles F. Lummis contributes an entertaining article on the subject of the autograph cliff, EI Moro, in New Mexico, where some of the early Span- ish visitors to America wrote their names and adventures. An interesting article on the vaquero is contributed by Flora Haines Loughead of Santa Barbara. There aremu- merous other interesting features to the August number, which is elegantly illustrated throughout. It will be illustrated with recent por- { THE PARISIA | UPPER CRUST Gyp Deals With the Failings of Other People GINETTE'S HAPPINESS. lated by Ralph Derechef. Fenno & Co., publishers. In this, as in her other stories, Gyp' deals with some of the shortcomings of uppercrust Parisian society. Ginette, 8 besuty, marries | young, not so much for love’s sake as to escape | the pain of being long “on the market,” and | because a fair opportunity presents itself. She | has an idea that marriage means happiness. | Her wealthy husband, however, allows him- | seli every liberty, including that of being | jealous. Ginette doesn’t find the happiness | she sought. Hes, husband gets into politics | and employs & young man named Chavoy to manage his campaign for office. Chavoy | waits upon Ginette much of the time during the campaign. The husband is defeated, and following that defeat, society busies itself with light talk concerning the politician’s spouse and Chavoy. The latter | tears himself away and departs for Algiers to accepta new position. The parting between _Ginette and Chavoy is painful, of course, and the woman expresses herself as quite indif ferent to society’s opinions or convictions in the matter. She only regrets that her happi- ness was limited to the period of the cam- paign. Gyp is always snappy and bright; never dull. A number of errors occurin the due, it would seem, to haste and care- ess on the part of the printer. OLD ENGLISH CATHEDRALS. A _CATHEDRAL PILGRIMAGE. By Julla C Dow. New York: The Macmillan Company, publishers. Forsale by William Doxey; price 5c. This little volume tells in & pleasant chatty way of some of the fine old cathedrals of Eng- land. As the author says, to some natures every stone of these vast edifices has a voice, every aisle a message. Destiny has forbidden to many of these cathedral lovers the delight of personal knowledge and intimacy. Tobring to them the very faintest echo of this voice, this message, is the sole object of this book. The cathedrals visited in the pilgrimage in- clude those of Winchester, Ripon, Litchfield By New York: “Gyp,” trans- | R K| and Exeter. Suggestions for = AN IRISH LOVE STORY Its Heroine Rescues the Man Who Has a2 EBast DAIREEN; A NoveL By Frank Frankiort Moore. New York: R. F. Fenng & Co., pub- lishers. An Irish love story with variations; buta story that holds the reader through to the end; that is alive with action, and not lacking in strong scenes, is the latest production of Mr. Moore. Itisreadily discovered that the author is no stranger to the glens and the heather- clad mountains, the blue loughs and the harp music of old Ireland as well as “the ocean music which makes those who hear it ripe for | revolt.” In fact Mr. Moore exhibits a filial | fondness for the land “whose life, is the memory of auncient _deeds of nobleness”; the 1ana that has been so prolific of heroes and “whose inhabitants live in thousands in squalor and look out from mud windows upon the most glorious scenery in the world.” Daireen -Gerald, the heroine of the novel, is the daughter of an officer in the British army and member of an old Irish family. The Geralds are neighbors of the Macnamaras, the head of which family has boasted that the ancestors of the Macnamaras were kings of Munster “in the days when there were kings in Ireland, and when the Geralds were walking about in blue paint in the woods of the adjacent island of Britain.” | Thus, when: the elder Macnamara finds that his son Standish loves the fair Daireen, he takes occasion to teach the Geralds how a “hereditary monarch is descending to equalize himself with emigrants.” The Geralds refuse to entertain the thoughtof mar- riage in the premises. Suddenly Daireen is called away to her father in th¢ Castaway Islands. Standish follows in disguise as a shiphand. One night on the sea Daireen hears a cry from the waves and alarms the watch. A man is rescued from a watery grave. This man, Oswin Markham, proved to be pos- sesséd of power to destroy all the beauty of a life that might have been intense with beauty. Daireen loves him and greets Standish then merely as & friend. Markham, however, has & dark past, which he strives vainly to bury. He wants to start life anew with Daireen, but fate and his conscience are against it, and he tears himself away from her. Poster Designs, Made for “The Call” by Kahler. 72y, : Ny HALSTEAD ON McKINLEY| Republican Gampaign Book by Eminent Authors LIFE OF HON. WILLIAM McKINLEY. By Murat Halstead. Ssn Francisco: Whitaker & Ray Company, publishers. Soid only by sub- | scription; cloih, $1 50; haif morocco, This most recent “Life of William McKinley” is & veritable Republican campaign book, and, as such, is replete with facts and information that should be in the possession of every voter. The author, Murat Haistead, has been assisted in the preparstion of this work by Mark Hanna, Hon. John Sherman, G nor Foraker and others. In fact. the first chapter is {rom the pen of John Sherman, who easily ranks as one of the ablest statesmen on finance of the century; while the introduction is from the eloquent pen of Cheuncey M. Depew. The book descrives in vivid style McKinley's brilliant career in the army, at. the bar, in Congress, in the Governor’s chair. It also tells the whole story of the famons McKinley bill. It tells how a wise system of reciprocity ex- tended our foreign commerce as never before, and opened the markeis of the world to American goods; and how McKinley has con- sistently adhered to the great Republican principle of honest moaey, the same money for the rich man snd the poor, and every dollar worth just as much as every other dollar. whether gold, silver or greenback. It contains; also, - that masterly argument: for proteciion by Hon. James G. Blaine in his great literary duel with the Rt. Hon. William E. Gladstone. No man of his time has been comparable with Mr. Gladstone, the | “Grand Old Man,” as a representative of Eng- lish thought and votitivs, and especial! English policy of free trade. So James G. Blaine, the “Prince Rupert of debate,” was perhaps the fittest of all Americans of his | BLIND LEAD THE BLIND Visionary Beings Satirized by James R. Gocke--A Light Touch and a Vein of Humor time to answer the English champion and to uphold the great American policy of protec- tion. The text of his masterly argument for protection is alone worth the price of the volume. Millions of Americans this year will want to reread it, to refresh their minds with the most cogent arguments ever made on the great issue now before the Nation. Recip- rocity and its vastly beneficent effects in ex- | tending American commerce and promoting the general prosperity of the country are set forth in these pages in the most direct and Iucid manner. Startling facts and figures ob- tained from official sources and never before made public are given to show the value of reciprocity and the appalling losses the farmers, workingmen and all classes of Ameri- cans have suffered through its abandonment by the present administration. The book also contains a powerful and lucid explanation of the gold and silver question by Hon. Charles Emory Smith, ex-Minister to Russia. THE MYSTERY OF HANDWRITING This is a handbook of graphology, ‘“beinga plain and practical guide to the art of inter- preting character from handwriting,’’ by J. Harrington Keene (Grapho). with the autograph writing of famous per- sons. In the “Mystery of Handwriting” an sccomplished graphologist has undoubtedly filled the requirement. Harrington Keene has presented in clear, concise, practical form the result of his-long experience, and it is very easy to follow his instructions aided by the autograph illustrations of famous men and women so abundantly furnished. Starting with the assertion that bandwriting is a series of mental gestures, he leads the reader with- out mystification through the whole alphabet of the graphological signs which experience has taught are present as symptoms of each individual character. The work contains a fine collection of fac-simile autographs of ceie- brated persons, and arguments in support of | the science are abundantly sustained by an appeal to the known characteristics of these celebrities. {Boston: Lee & Shepard, publish- ers. Price §2.] MONEY IN POLITICS. The constant demand for this plain and practical treatise on the history of money in the United States has called for & new edition, | and the author has revised, extended and brought up o date & book which appeals to ll Americans, whatever their financiai standing or financial creed. Legislation in the United States in regard to coinage, legal tender nndl other acts, the battle between goid and silyer standards, and all matters that pertain to honest money are fully, fairly and practically treated i this book. The author is an ex- Assistant Treasurer of the United States, and knows hissubject practically and thoroughly. As a timely contribution to the present “silver | agitation” that is interesting the whole coun- | try, this little book will commend itself to all citizens, and should be read and studied by all. [Boston: Lathrop Publishing Company. Price $1 25.] Admirers of “Gyp” will remember “Les Gens Chics,” with its curious colored illustrations by “BoB.” A volume on similar lines by the seme author, with illustrations from the same hend, appearedin Europe. Title, “Ohe! Les Dirigeantes!” - Grcan |0 T 15> It is illustrated | BLIND LEADERS OF THE BLIND, the Ro- manceof a Blind Lawyer. By James R. Cocke. Boston: Lee & Shepard. publistiers. Cloth, price The author of this book is deprived of sight, and possibly the character of the blind lawyer | may be, in part, drawn from some of his own experiences, The book is at once a satirical and | occult romance. The author deals humorously | with those visionary beings wha would reform | the world by equally visionary schemes. Modern methods of educating the blind are | treated of in connection with the boyhood career of the hero, Rabert Netharland. The blind student’s college experiences are Wwrit- ten with a light touch and a certain vein of . | humor. | | _An inferesting chapter is the one in which the blind lawyer is made to see through his sweetheart’s eyes by means of an instrument | supposed to have been aiscovered by a French- man. We quote a portion: “Take this chair,” Professor Vandiere said, wheeling one into the center of the room, forget- ting that Robert could not see. Rovert arose and hesitatingly took a step fors ward. De’Kite, instantly recognizing his embar- rassment, tactfully took his hana and led him (o the chair. Robert thought it the most beautiful band he had ever touched. It felt soft and vel- veiy, strong but slender; warm and gentle seemed its touch. He had never held such a hand before, and was again conscious of an ardent wish to see De’Ette’s face. Professor Vandiere held a strange looking object in his hand. It was a metallic rod, upon one end of which was a small horseshoe magnet. “You must concentrate your mind upon one thing,” said the professor. I will give you a num- ber—sixteen. Itdoes notmatter what figures are selected. but you mus concentrate your mind in- tently upon whatever number is given. Think of | sixteen,” he commanded: “sixteen, only sixteen.” | He waved the magnet nthe air and made passes with it. “Think of sixteen, you are sixteen: you are two figures, one and six—sixteen, sixteen, six- teen.” De'Ette watched Robert’s face. It grew paler, | bis features became set, and his face wore an ex- | pression of terror. “Sixteen, only sixteen; you ave being merged | into two figures, one and six, sixieen.” The pro. | fessor waved the magnet to and fro. | A tremor passed over Robert's face. | “Close your eyes.”” The lids feli. . “You cannot open them.” Robert tried in vain, “your hanas are icy cold.” Robert shivered. trange noises rang in his ears. He felt himsel? | cxpanding. A terrible dread came over him; he | tried in vamn to throw it off. “Sixteen, sixteen, sixteen, sixteen,” rang through his head. “Sixteen, sixteen,” again he | heard. and then the voice ceased to exist for him. | He felt himself whirling, whirling whirling. He imagined he feit the figures, one and six, upon his finger-tips. *One, six: one. six; one, six,” was | all that he felt, all that he knew. Then another strange feeling followed. He was conscious of & | bright light, but did not have a name for the sen- sation. Then a bookcase, a piano and some chairs entered his consciousness. He knew them by their form, but why did they glow so? ‘“What 1s this?” ‘he thought; and then he experienced a sensation of pleasure. It was & new pleasure, an unnem- | able delight. There was a face! He knew it was | a face, becauseihe had touched many. Sucha face and such a form, wrapped in & maze of shadowy, delicate pink. | “Am I in beaven?” he asked. De’Ette st0od by him. The professor had first placed the magnet upon him, then upon De'Ette. Then, at the professor’s suggestion, she took Rob- ert’s hand. At this moment Robert received the first.vision he had ever known; for the first time he consciously perceived objects through a new avenue, by another sense. The action of the book is rather dramatic; the style natural, easy and readable. The scene of the story is laid in Boston. I - KINGS IN EXILE. This new edition of one of Alphonse Daudet’s | works bears the imprint of the London house | 0f J. M. Dent & Co. The book is published in a style and binding uniform with “Tartarin of Tarascon” and “Tartarin in the Alps.” The | illustrations, which are done in a most dainty fashion, are by Bieler, Conconi ahd Myrbach. A singular coincidence is noticeable in the fact that Daudet dedicated the original edi- | tion of “Kings in Exile” to Edmond de Gon- | eourt, *‘who has written the history of queens and favorites, and the romance of Germinie | Lacerteux and the Freres Zemganno.” The new and handsome edition of the work under review reaches us but a few days after an« nouncement is made of the death of De Gon- court, for whom Daudet professed a sincere | admiration. [New York: The Macmillan Com- pany. For sale by William Doxey; price $1.] The discovery by the Lark of a new poet in Yone Noguchi, the young Japanese living with Joaquin Miller on the Heights, back of Oakland, has aroused no little interest in Eastern papers. The publication of his songs, «Seen and Unseen,” two of which were quoted | in these columns last month, coming almost simultaneously with those of anotner “dis. ' | covery”—Edmund Curtis, the boy poet of the {slums of the East Ead of London—has | caused the Boston Transeript to make some comparisons, very favorable to the Lark’s protege. Of Yone Noguchi’s lines in the July Lack the Transcript says: «Jt is enough to submit without analysis to the fascination, realizing that these English words wherein he has found expression be- come here in a measure the very language of the soul-universal of mankind. All Ameri- cans—or Europeans, by the way—who know the Hebrew scriptures, even in translation, itake to’ this rhymeless, rugged, rhythmed form of poetry more kindly when it is written by an Asiatic from the same continent where the prophets Ezekiel or Habakkuk dwelt than if it is employed by an American like White man.” ———————— Do not fail to read Thomas Slater's advertise- ment on page 4 for men.