The gates of the Exposition were closed on the 2d of November. Vast as had been the assemblages in attendance (8.350,000) the enterprise fell more than $3,500,000 short of covering the expenses, with nearly half a million dollars due to contractors. It is a duty to speak plainly, and the following from the Boston Herald tells the story:

"The failure of the Buffalo exposition financially creates no surprise. It was expected from the fact that similar affairs preceding it had met with that fate, and that the expense attending them all precludes the possibility of profit. We are inclined to think, however, that the reported deficiency is greater than there was need for it to be. The old story of being unprepared at the time of opening had something to do with this, and the tragedy connected with the President operated; but aside from these, the greediness of a class of people in Buffalo repelled those who desired to visit the fair. The hotel charges there were enormous and most unreasonable. They were so extortionate as to drive people to Niagara Falls, with an inconvenience of a journey of several miles to the fair each day, rather than submit to them. No blame can attach to the managers for this. They were simply unfortunate; but it was a pity that the city acquired the reputation that these grasping people gave it. The fair itself was a magnificent spectacle, which deserved to be seen by a great many more people than visited it. In that light it created enthusiastic admiration."

In one respect the Buffalo Exposition will always retain a sorrowful prominence over all that have gone before. Early in September President McKinley went thither as the guest of the city and to help promote by his presence the international peace and good-will among the people of the Western continents and of the world itself. On the 5th he delivered a speech in the Exposition grounds wherein he outlined a broad and liberal scheme of commercial reciprocity between ourselves and foreign nations, and which was accepted at home and abroad as an honest determination on the part of our government to remove one of the principal causes of international quarrels. Among other things, the President said:

"Our capacity to produce has developed so enormously and our products have so multiplied that the problem of more markets requires our urgent and immediate attention. Only a broad and enlightened policy will keep what we have. By sensible trade arrangements which will not interrupt our home production, we shall extend the outlets for our increasing surplus. A system which provides a mutual exchange of commodities is manifestly essential to the continued and healthful growth of our export trade. We must not repose in fanciful security that. we can forever sell everything and buy little or nothing. If such a thing were possible, it would not be best for us or for those with whom we deal. We should take from our customers such of their products as we can use without harm to our industries and labor. Reciprocity is the natural outgrowth of our wonderful industrial development under the domestic policy now firmly established. What we produce beyond our domestic consumption must have vent abroad. The excess must be relieved through a foreign outlet, and we should sell everywhere we can and buy wherever the buying will enlarge our sales and productions and thereby make a greater demand for home labor. The period of exclusiveness is past. The expansion of our trade and commerce is the pressing problem. Commercial wars are

unprofitable. A policy of good-will and friendly trade relations will prevent reprisals. Reciprocity treaties are in harmony with the spirit of the times; measures of retaliation

are not.

"If, perchance, some of our tariffs are no longer needed, for revenue or to encourage and protect our industries at home, why should they not be employed to extend and promote our market abroad?"

On the following day the President attended an organ recital in the Temple of Music in the Exposition grounds, where he held a public reception in order to allow the multitude to see and greet the Chief Magistrate of the country. This custom, as you know, is peculiarly American and is a popular one. We cannot imagine an

emperor or king standing up for hours and shaking hands and exchanging pleasant greetings with thousands of the plain people!

The President was attended by John G. Milburn, president of the Pan-American Exposition, and by his private secretary, Mr. Cortelyou. As usual several members of the Government Secret Service were lingering near to prevent any hostile action, for there is no saying when and where some murderous crank will leap into activity.

Among the crowd steadily filing past was an ordinary looking man, whose right hand was swathed in a handkerchief, as if he was suffering from a wound. Edging easily along with the others, he attracted no special attention, for there was nothing in his appearance to cause suspicion. When he was within two feet of the President the latter caught his eye, bowed with a smile and extended his hand. Immediately the