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construction. Mr. Cooley has great faith more or less affected and the industrial stagin the government extension of the water nation will be far greater than if half a ways of this country, and said, "We shall dozen small concerns became bankrupt. eventually see barges carrying 3.000 tons of When a great big company goes under, freight traversing the canal, and traveling thousands will have to bear the loss. Anbetween Chicago and New Orleans."
other thing I fear is the centralization of Other topics of interest discussed were big industries in the hands of five or six the admission of Oklahoma and Indian Ter
men. The control of the industries of our ritory to the Union as one state. Arizona
country should be more widely distributed, and New Mexico also asked for a resolu but if the trust idea continues to progress at tion favoring their admission. The estab
the same speed that it has done within the lishment of a national executive department last year, all the leading industries of the of mines under the charge of a secretary, nation will be left in the control, as I lave was favored, also the establishment of the
said before, of half a dozen men.
When proposed western naval training school at
half a dozen men direct the business and Duluth-Superior harbor. The subject of
financial policies of the great industries Irrigation received special attention, and papers were presented also on Forestry; take in judgment. It would be different if
there is a danger that they may make a misMississippi Improvement, Beet Sugar In
a hundred or a thousand men controlled dustry, Good Roads, Interstate Commerce
these industries. If a part of them crred and Consular Service.
the rest might be affected, but they would The next annual session will be held at Seattle, Wash.
be able to stand it. If, however, a mistake J. D. COWLES. was made by this small group of powerful
men, then the whole nation would be TRUSTS, ACCORDING TO RUSSELL plunged into financial loss and ruin. Of SAGE.—Just at this time when the trust
course some combinations are good things. question is receiving so much discussion,
I do not know any particular instance that Mr. Russell Sage, while professing not to I can cite which would illustrate my idea be hostile to Mr. J. Pierpont Morgan, and of what consolidation is good business, but not to fear oppression of monopoly, de
I can give one that has been a bad thing. clares that he sees peril to the national finan
That is the copper combination.” cial condition in the formation of great com Perhaps Mr. Sage would now wish to binations. The following is quoted from
cite, as another instance of unfortunate conhis public utterance on August 21.
solidation to illustrate his opinion, the col“First, let me say that I am not antagonis- lapse of the bicycle trust. Bearing on this tic to Mr. Morgan. He and I have been
same question, as concerning American very friendly from a business standpoint for finance, the London Times recently pubmany years, but we differ on the trust ques lished an editorial, from which the followtion. I have been misquoted and my views ing statement is quoted. exaggerated when I have been quoted as
“For the next few months, at least, the saying that combinations of all kinds are a big harvests of the United States will probmenace to the government. That is not ably secure the business world against the right. I believe those which have been collapse of credit in New York; but, unless formed with the right idea and on a sound
we are to accept the newfangled doctrine basis will live, but the others will fail and
that in some mysterious way economic laws die of their own poor construction. What need not be taken into account where I am afraid of is the constant formation of America is concerned, the present state of inflated securities which are disposed of to things and the present fashion of finance the American people with a good brand on cannot continue forever. Mere magnitude them. Securities have been made in large of resources, however dazzling to the unquantities and sold at high prices on the thinking, will not save their owner irom idea that economies to be effected will give
embarrassment, or worse, if he allows his them the arbitrary value which has been
liabilities to grow in excess of them." placed upon them. This theory will be exploded later on, for there will always be
VIRCHOW, Prof. RudoLF.-On Septemcompetition. When the crash comes it will
ber 5 there died in Berlin one of the great be a national disaster. Everyone will be
scientists of the world.
Virchow, anatomist, physiologist, anthropologist, and founder of cellular pathology, was born at Schivelbein, Pomerania, Prussia, October 12, 1821, and he was educated in Prussian schools. In 1849 he was made professor of pathological anatomy in the University of Würzburg, which chair he occupied until 1856. He received a call to the chair of pathology in the University of Berlin in 1856, and in time he became rector of that great institution. Under his influence the newly founded Pathological Institute of the University of Berlin became the foremost school of its kind in Europe. He has been a member of the Prussian Landtag since 1862, and of the German Reichstag since 1880, and was considered one of the ablest speakers of those houses. As a leader of the Kulturkampf he advanced strong opinions, and gathered about him some of the foremost free-thinking scientific men of Germany. His political opinions reacted unfavorably on his position as an educator, and in 1887 the conservatives managed to oust him from his rectorate; but he never lost the respect and support of the advanced materialists, and he was reinstated in 1892. By his famous work, “Cellular Pathology," he compelled a reconsideration of the whole subject of pathology. On this work and on his “Mor
THE WORLD'S EVENTS.
(From August 15 to September 15, 1902.)
UNITED STATES. Aug. 20.-J. Pierpont Morgan returned from his three months' trip in Europe. Aug. 21.-Charles M. Schwab sails for Europe
and treatment. .The Baltimore and Potomac Ry. Co. and the Philadelphia, Wilmington and Baltimore Ry. Co. merge under the title of the Philadelphia, Baltimore and Washington Ry. Co. with a capital stock of 507,000 shares of the par value of $50 a share. This stock will be owned almost entirely by the Pennsylvania Ry. Co. and the Northern Central Ry. Co.... Forty sick employes of the Wabash Ry. Co. are on the way to California in hospital cars at the company's expense. None who have caused sickness by excesses of any kind is so assisted.
Aug. 22.—Civil Governor Taft received in Manila with an ovation. Vessels parade in bay. Twenty thousand Filipinos from various provinces join in demonstration.
Aug. 24.— The Naval maneuvers close with the capture of the attacking "white" squadron of
Commander Pillsbury off Salem by the defending "blue" squadron of Admiral Higginson.... Senator Hanna abandons all efforts to end coal strike. ... The Central Federation Union representing 250,000 workingmen resolves ask President Roosevelt to call a special session of Congress to deal with the coal strike. ... Sultan of Turkey orders that all demands of the United States for compensation be conceded.
Aug. 26.—Acting Secretary of War Sanger issues an order granting General Miles' "application for authority to inspect that portion of the army serving in the Philippines." "He will sail about Sept. 15th.
Sept. 1.-Two amendments to New York divorce law come into force: No judgment of divorce or the annulment of a marriage shall become final until the expiration of three months after the filing of the judgment. And lawyers shall not advertise for divorce cases.
Sept. 2.— The American Bicycle Co. announces that interest due would not be paid on time, and
that proceedings had been instituted for appoint- bia is pouring troups into Panama to oppose the ment of a temporary receiver. The company, revolutionary forces under General Herrera, who though solvent, lacks working capital. It con has recently had some successes. trols about 70 per cent of the bicycle output, be Aug. 27.--General M. Berti with 3,000 men sides an automobile facture. It
incor surrenders Agna Dulce to General B. Herrera porated in 1899 with 20 million common and at the head of the revolutionary forces after a 16 million preferred stock.
siege of one month. Sept. 3.—President Roosevelt narrowly escaped Sept. 5.--Government troops again defeated death by a collision between carriage in which near Santa Marta, Colombia. Both Colon and he was riding and a trolley car near Pittsfield. Panama are now threatened by the revolutionists.
Sept. 8.— The National Candy Company which hopes ultimately to control the whole output of
WEST INDIES. the U. S. was incorporated in New Jersey with Aug. 30.—Mont Pelee erupted once more, and an authorized capital stock of $9,000,000. Sept. 11.-The battleship Wisconsin and the Ajoupa Bouillon with 1,600 human lives
destroyed the villages of Morne Rouge and cruiser Cincinnati were ordered by the Secretary zone of destruction extended 5 miles further of the Navy to proceed to the Isthmus of Panama
eastward than that in May. The inhabitants had to protect American property in the revolution. Sept. 13. —Sixty thousand women and children the government.
been sent back to this region only last week by and ten thousand men attended the Republican
Sept. 3.—Yet another eruption of Mont Pelee kills about 2,000 people.
Aug. 7-The German gunboat Panther sank the Firminist gunboat Crete-a-Pierrot near the harbor of Gonaives, Hayti. The Germans acted on the assumption, made by the Haytian Government, that the rebel gunboat was a pirate.
EUROPE. Aug. 20.--King Edward VII. has granted a charter dated Aug. 8, 1902, incorporating a Pritish Academy for the promotion of his torical, philosophical and philological research, with 49 men as original fellows. Fears are expressed that like the French Academy, it will fail to enroll some of the greatest names. A notable omission already made is that of Herbert Spencer.
Aug. 28. --Victor Emmanuel, King of Italy, drives in state through Unter den Linden, Berlin, in company with the German Emperor William. Decorations were bestowed on several German and Italian officials.
Aug. 30.—Military review by Emperor William CARDINAL GOTTI.
and King Victor Emmanuel of 30,500 troops, of The new Prefect of the Propaganda at Rome. whom one-third are cavalry, at Berlin. ... Ac
cording to vital statistics issued this week, Lonrally at Sans Souci Park, Chicago, where free
don shows a decrease since 1881 from 27.4 to refreshments and prizes were distributed.
20.6 per 100 of married women under the age of Sept. 14.-For the past week forest fires have
45. The decline is most notable in the fashionable raged 40 miles along Lewis River in Washing
quarters of the capital, while the slum areas, such ton, near the Oregon border: destroying thirty
as Stepney, Shadwell and Bethnal Green, are lives and $300,000 worth of property. Forest
almost stationary. Outside of London the defires in northwest part of Oregon will involve
cline amounts to 25.8, against 30.3 in 1881. a loss of $1,000,000.
Aug. 29.—Strike of 40,000 workmen in FlorSept. 15.-The Farmers' Co-operative Associa ence, Italy. tion, incorporated Aug. 13 at South Pierre, S. D.,
Sept. 9-11.–German maneuvers near Frankfortopened offices in Royal Insurance Building, Chi
on-Oder conclude with a charge of 9,000 cava cago.
The purpose is to avoid throwing the en alry upon artillery and infantry. Earl Roberts, tire crop on the market at once when low prices
commander-in-chief of the British army, and the rule.
American Major-General Corbin,
among the official guests, both consider the Ger
man army matchless. Aug. 26.–A dispatch from Caracas reports that Ciudad Bolivar, the capital of Bolivar, has been bombarded by two gunboats of the Venezuelan government, and many persons killed or wounded.
Aug. 20.-A dispatch from Simla, India, states ... News received at Washington, D. C., that
that the plague mortality is increasing at the rate
of 1,000 weekly. General Rafael Uribe-Uribe has landed in Colombia, whence he was driven a year ago, with the
Aug. 29.—The Pekin Gasette published an
ediet abolishing the "likin” duties levied at the purpose of raising another revolution.... Colom
frontier of each province in China.
INDEX TO THE WORLD TO-DAY, VOL. III.
1473-6, 1507, 1624, 1749
1519, 1603, 1625, 1616
.1477-8, 1604-6, 1761
1624, 1746, 1898