The San Francisco call., 1897-09-12

II
ton is ed ucatlon, but it is something
more. 1t is not Oily the bringing out
of human faculties and powers, but 1t Is
also a successful application OF the M TO
| problems OF life. Laws of animate ma
ture we can easily understand to be IN
| flexible. Ii we are once sure that we nave
taken observations enough we are equally
! sure that inanimate nature Will WORK Inc
same way under what Sem to US the
same circumstances OF course, we never
get perfect knowledge and are always
finding out exceptions. But In a general
| way We are always right about matter
and always feel satisfied that we can pre-
dict what it will do.
Il was not so in the beginning. We
used to be very much in the dark and ielt
our wav to all these things. But while
we have come to the simple truth that in
animate nature can be fathomed we are as
much in the dark as 10 the action OF great
bodies OF men. Nevertheless, thers Is
reason to believe that mankind, as mass,
acts by determinate laws, the courses and
directions of which we are every day lind
ing out more and more.
This nation mas had to have special edu-
cation in finance because its circum-
stances ard surroundings were, and are,
different from those of any other nation
in the history of the world. 1t is true
that before our day vast EN- pires have
heen peopled py immigration and have
fourished. But our empire has been
peopied, not long ago, but in our day, In
which thera has been invented every ap-
piance to enable men to exploit the
riches of the earth. Moreover, beyond
anv other period in the worlds history.
capital has been essential to the utilza-
ton of the riches of lands such as ours.
We in the East are very much prone to
blame the West for its attitude IN tlnan-
cial struggles, but Western people are
under strong temptations always. They
can see the wealth of their country, and
all Its great possibilities, and, becoming
i'm patient at the slow approach OF conf
dence and capital, are tempted beyond
measure TO use all those appliances of the
art OF financiering which seem so easy
and are in the long run so ruinous. We
had our eriods, we in the East, when we
ran to paper money as savior and found
it a satan. Our very. constitution, in its
taking away from States the right to issue
paper money, is the result of the suffer
ings undergone by our ancestors in tie
East, which sufferings are depicted in
Summers History OF American Cur
rency."
We have learned the lesson, but ought
not to be too impatient with those who
have not We have learned. and others
will have to learn, that in the end 1t is
capital which cos and that IL makes
wealth which lasts 1t is true that we
NAV make capital which does not cost,
! but it is dangerous demon, and harness
is expensive and breakups frequent.
With our new country we are undergolng
education which older nations have at
tanned for themselves in their own sur
roundings already. We have to learn for
ourselves, not because We are not bri ght
enough to learn as quickly as any body or
to learn from anyb~dy. but because our
circumstances are different and our
temptations greater. We think our coun-
try must be an exception and hurt ous-
selves much in finding that it is not.
What the Nation finds out for itself,
however, stays longer than what some
one else finds out for it. The last few
months have been full of education Tor
the whole American people. There has
been nothing really new about it, but
there has been one more repe ition to
make the lesson solid. In time no one
/ will dispute the sure succession of events,
and thereafter patent remedies for hard
times and patent elixirs for prosperity
will have had their day.
What a str r.king reese mblance there is