The record-union., 1896-06-14


q voluminous work from the pen of that
eminent critic, scholar and social ana
political economist, Charles A. Con-
ant. 1t is from the press of u. +. Put-
nam's Sons (New York;, and is large
octave of nearly 600 pages, with an
appendix giving the list of authorl-
ties consulted in the preparation OF
the book. The text, or central thought'
of Mr.. Conant may be OWNED from
single sentence, which he puts tren-
chant and direct in his preface, name
ly, '"The currency of commercial
country should be regulated by COM
mercial conditions, and not by the
whims of politicians" However, IN
writing a history, Mr.. Conant has not
permitted his personal views to give
color to any fact or to shade in the
slightest degree any historical essen
tial 1t is history in the truest sense,
for it is at once exhaustive and impair
tial; where the author has commented,
he leaves no one in doubt concerning
his views, but there is no mlngllng or
them with facts of history to the con-
fusion of either. AS Mr.. Conant him.
self says:
political economy is still in a large
measure an experimental and dis
puted field, but this is less true of finan-
ci2l administration than of the ques-
tions of taxation and the distribution
OF wealth, which still perpleX eco
nomic students. The modern banking
community have already learned, dur
ing the past hundred years of the his
tory of banking, the leading lessons
of the failures and experiments OF that
period. There is doubtless much yet TO
be learned, but the system of bank
ing currency and of the management
OF banking operations is now prac-
ticable and workable system. The re-
suits of the experiments of the century
can be summed up and their lessons in
dicated in a clear and certain manner,
subject to little dispute by those who
have given unprejudiced study to the
subject 1t is these experiments which
/ have endeavored to describe in the fol-
lowing chapters, leaving their lessons
for the most part to be derived from
comparison of their results with the
rules of sound banking policy.
THE purpose of this work is his
torical rather than controversial and 1
have even refrained from discussing
standard, because the rules which
govern banking currency apply with
equal force, whatever metal cOnsti-
tutes the standard money of redemp-
ton. 1 have thought it proper to state,
as simply and as clearly as possible,
the theory of a banking currency, but i
have endeavored to avoid all digres-
sions which were not essential to an
IL
of issue and of recent events in the
financial world. Systems of coinage,
the history of public loans and political
events, the many forms of mortgage,
deposit and popular banks and the new
problems relating to the uses of specu-
lation and the part played by nego-
table securities in modern economic
life, are such important subjects of
discussion that each is worthy of sep
arate treatment, and they are only re-
ferred to here where they seem to form
a necessary part of the history of one
of the great banks of the world. 1t
has been necessary to refer in several
cases to the history of Government
paper money, because it is related to
the origin and growth of banks of is
sue, but my plan excludes the syste-
matte treatment Of paper money, which
would of itself fill a volume. My chief
object beyond that of narrator, will
be accomplished if the study of the
dismal record of Government interfer-
ence with monetary laws shall convince
thinking Americans of the automatic
truth that the currency of q CONNER
cial country should be regulated by
commercial conditions and not by the
whims of politicians"
1.-THE Story of Cuba is a book from
the press of the Werner Company, Chi
cago. 1t is by the famous journalist,
Murat Halstead, and tells in graphic
and unmistakable language the story
of Cubas struggles for liberty, the
cause crisis and destiny of the Pearl
Of the Antilles. 1t is freely and graph
ically illustrated with wood engrav-
ings and with half-tone pictures, both
in portraiture, scenes of the war, land
scape and views in and about Havana.
etc. 1t is wholly unnecessary to speak
of Mr.. Halstead's style. He is too well
and widely known as a newspaper and
magazine writer, and his accomplish
mentS as a correspondent are too IA
miliar to the American reading public
to make it necessary to refer extended
1y to his pleasing methods. his vigor of
expression and his graphic descriptions
OF great activities. Mr.. Halstead passed
several months in Cuba recently as a
New York newspaper correspondent
and had exceptional opportunities to OBJ
serve, search records and communi-
cate with the people on both sides of
the great struggle now going on. The
book is a large octave of more than 800
pages, and is well printed and COM
pactly bound.
From Macmillan & Co, New York
We have in a neat case two handsome
volumes. octave, Rome" by Emile
Zoia. They are translated by Ernest
Alfred Vizeteliy, and this is the only
authorized edition of this most preten-
tious of the better efforts of Zola
Rome" is a story, a most attractive
enhancing story, a romance and &
drama, but it is a philosophical and 6
critical story so different and apart
from what we have had reason to ex.
pect from Zola, that one is scarce
ready TO believe the French sensational
novelist is its author IT is the second
volume of Zola's trilogy. 'Iourdes