Conservative.
A WISH.
So lot me hence as one
Whose part In the world has been dreamed out
and done ;
One that hath fairly earned and spent ,
In pride of heart and jubilance of blood ,
Such waRes , be they counted bad or good ,
AH Time , the old taskmaster , was moved to
pay ;
And , having warred and suffered , and passed
on
Those gifts the Arbiters preferied and gave ,
Fare , grateful and content , . .
Down the dim way ,
Whereby races innumerable have gone ,
Into that silent universe of the grave.
Grateful for what hath been
For what my hand hath done , mine eyes have
seen ,
My heart been privileged to know ;
Witli all my lips in love have brought
To lips that yearned in lovu to them , and
wrought
In the way of wrath , and pity , and sport , and
song ;
Content , this miracle of being alive ,
Dwindling , that I , thrice weary of worst and
best ,
May shed my duds , and go
FrDin right and wrong ,
And , ceasing to regret , and long , and strive ,
Accept the past , and be forever at rest.
W. E. Henley in the North American Re
view.
THE GROWING DESIRE FOR A CEN
TRAL BANK.
Two items recently appeared iii the
newspapers pointing to a desire for a
central bank. Although neither item
was what may be regarded as authentic ,
they may be taken to bo straws showing
the trend of thought among business
men. One of those items credited Mr.
J. Pierpoint Morgan with having a plan
for the establishment of a bank with a
capital of $100,000,000 ; the other , that
Mr. Oakley Theme , president of the
North American Trust Company , of
New York , had considered the estab
lishment of an equally large "Bank of
Banks , " in which each bank in the
country could be interested. Concern
ing these reports , the New York Journal
of Commerce says :
Rumors.
"The reports probably originated in
an article by Maurice L. Muhleman , for
merly deputy assistant treasurer of the
United States in this city , in the current
number of Money , a financial publica
tion , in which he discusses the feasi
bility of discontinuing the sub-treasury
system and carrying on the govern
ment's fiscal business through a
great United States banking institution ,
as is done in England or France. "
As to the published reports mentioned :
While it is not impossible to provide for
so large a bank under existing laws , it is
manifest that a special act or chartei
from congress would be almost a necessity -
sity to give the institution the standing
which it should have. A large capital
is not the only requisite for a successful
bank of banks ; certain corporate powers -
ers are also indispensable , and its aggregate -
gate of operations of all kinds must be
entirely free from uuy interference by
state laws and plans for .state taxation ,
as the fiscal agency of the federal
government.
Functions.
Thus the bunk should have such note-
t
issuing powers without the pro-requisite
of bond deposits as would enable it to
give the country the ample extra supply
of notes , required during crop move
ments and authority granted to act as a
bank for re-discount for all other banks ,
no matter whore located. And for these
purposes as well as for the necessities of
international trade , a federal charter
permitting the establishment of branch
es would be necessary ; something not
possible under the present national
banking laws.
Again , it would be wise to have such
a bank of re-discount , and accommoda
tion for exchange , both domestic and
foreign , under federal supervision , and ,
in order to secure proper control and an
efficient instrument in the hands of the
treasury to provide remedies for unsound
commercial conditions , the government
should own a substantial interest in the
bank , and appoint a certain proportion
of directors and the executive officers. .
A Charter.
Moreover , without a federal charter ,
it would not be practicable to cany out
the two great reforms demanded by the
interests of the people of the United
States , and their industrial enterprises
viz. , the retirement of the "green
backs" and the abolition of the sub-
treasury system. Both of these reforms
are bound to come ; both are essential to
ultimate financial stability and to the
best interests of our growing domestic
and foreign trade. In fact , the recent
changes in the status of the Union and
its acquisition of great colonial pos
sessions , as well as the great expansion
of national enterprise , have so changed
business conditions that the creation of
a central bank as a biilwark of Ameri
can finance is absolutely necessary to
maintain the position of predominance
in the world of trade which had been
secured.
Perhaps neither Mr. Morgan nor Mr.
Theme has really had any plan actually
in mind ; but there can be no doubt that
if Mr. Morgan conte'mplates any such
thing , he is the one to carry the plan into
execution. Under his direction there
would be no question of the success of
the project. He is not , however , in the
habit of taking many people into his
confidence as to his enterprises ; and it
is , hence , not probable that he has told
the newspaper man of it.
Currency Reform.
Yet it would prove the crowning act
of a most snocessful career if he would
undertake , by means of such a coiueu-
tration of the great forces of American
finance , to bring about a reformation of
$ " .
our currency and financial system upon
lines which the civili/ed world has
proven are the best possible and the only
scientific solution of monetary prob-
lenis in any country that has over suc
ceeded in practical application. History
would for such a work , place him along
side of Alexander Hamilton and Albert
Gallatin. Money.
WHITE CLOVER AS AN OLD
SETTLER.
EDITOR CONSKKVATIVK : I notice in
reading Tim CONSEHVATIVK you devote
considerable space to the early settle
ment of your state. I have often heard
father ( Robert Douglas , the first planter -
of pines on the prairies ) speak of ,
one settler and doubtless his descend
ants are now numbered by the " . "
millions White Clover. This plant , >
as you know , follows civilization a ? a ' /
rule , but in tins case it preceded it. "
Father settled in , this place in 1844.
Three years later ho found one plant of
white clover , which ho dug up and
planted in his garden. The two follow
ing years ho planted a few more , which
he also dug up. . So when he started for
California in ' 49 , he had about one foot
square of it growing. On his trip across
Illinois and parts of Missouri and Iowa ,
he did not see any , but on the third or
fourth day's journey west of the Mis
souri river ho found quite a bed of it.
When he reported it to the balance of
the party they thought ho was mistaken ,
and they wore taken to the patch. After
wards they found that the government
had nt one time distributed the supplies
to the Pawnees at this point and the
seed must have been in the packing.
Yours truly ,
T. H. DOUGLAS.
Waukcgan , 111. , Juno 18 , 1901.
A SOUTHERN VIEW.
If these insular possessions are "ours"
if the conglomerate mass of all colors
and conditions of men civilized , semi- - - 1
civilized , and barbarians who inhabit
"our foreign territory , " are to be hold
does not the experience of the South
with the large alien race among us em
phasize the wisdom of holding them as
colonies rather than taking them to our
bosoms as sister states on terms of
equality ? One or the other thing must
be done if they are "ours. " Are we pre
pared to admit them as states ? If so ,
let us of the South , reverse our negro
policy , and apologize to the carpet
baggers of a generation ago. If we
want any more black and tan sovereigns
with a hand in the government of our
country , let us luck up a row , reverse
the supreme court , and with one arm
around the' negro , and the other around
the Negrito , trample upon the grave of
a discarded policy which has character
ized the Southern people through all
their struggles. Macou ( Ga. ) Tele
graph ( Dem. ) .
