The Republican journal. [volume] (Belfast, Me.) 1829-current, 1909-02-11
Literary News and Notes.


Harper & Bros. have published ney
edition of ''King Spruce" by Holma
Day.
The February number of Recreation
which contains many notable articles o
interest to all outdoor enthusiasts, i
now for sale by all newsdealers. On
need not be specialist in any branch O.
sport to enjoy and profit by the season
able articles and stories in this issue, bu
| February Recreation takes care of al
classes of sportsmen. Every one of it
many photographs is unusual, different
and all of them were made by people
who have "been there.
Representative Rounds of Portland has
received from Asher C. Kinds, clerk tt
the speakers table in the national House
of Representatives, an autographed
copy of Mr.. Kinds famous parliament
tary work, the Digest and Manual OF
the Rules and Practice of the House OF
Representatives of the United States. -
The book is bound in full levant with
flexible covers, marginal induces and
ing on the cover.
Enoch johnson, the author of "A Cap
tain of Industry spent part of his
boyhood in Springfield, Illinois the home
city of Abraham Lincoln. Some of Mr..
Johnson's own people and many of his
neighbors and acquaintance in SPRING
field knew Mr.. Lincoln personally Ma
turally he heard great deal about him
from people who had their information
at first hand In one of the principle
characters in /" A Captain of Industry. ="
Elisha Gangdon, the attorney for the
for the steel mill employees John,
son has sought to portray Lincoln accord
ing to his conception of him as young
lawyer at the Springfield bar. The C. Nj.
Clark Publishing Co., Boston, Mass.
In review of the ::"Birds of Maine"
by Ora Willis Knight, the BOSTON Tran
script says: Excellent reproductions from
photographs enhance the merit of the
volume, rare nests and eggs among them,
notably those of the hermit and Bck-
nell IS thrush. In Typography and make
up the book is excellent, being on light
paper that makes its seven hundred pages
no burden to the hand In his dedica-
ton Mr.. Knight refers to his wife, with
out whose help and encouragement this
task would never have been completed. -
1t is interesting in this connection tonote
that these Maine women are true help
meets, for in the next most recent CON
tributiOn on the subject of birds, of the
general district, the author, Walter H.
Rich of Portland, writes: ''To my wife,
most patient of readers and gentlest of
critics"
Victor Morawetz, the distinguished
lawyer and authority on corporation law,
has written book which the Messrs
Harper, acting for The North American
Review Publishing Company, have pub
lished, on The Banking and.. Currency Prob
lem in the United States. Mr. Morawetz
is clearly of the opinion that extraordi-
nary financial disturbances could be pre-
vented by permanent safeguards against
money stringencles and panics. His own
plan is for cooperation between the
banks and the Treasury--the establish
ment OF noteredemption fund, to be
elastic with reference to the uncovered
notes outstanding. This the author be-
lieves would give stability to financial in
stitutions generally. Mr.. Morawetz until
last autumn was chairman of the board
of directors of the Atchison. Topeka,
and Santa Fe Railroad.
In the February number of The North
American Review, Mayo w. Hazeltine
reviews the work recently published by
Victor MoraWetz upon ''The Banking and
Currency in the United States" Mr..
HaZeltine expresses the confident opinion
that nothing on this subject has yet been
forthcoming which can be compared with
this work as regards breadth of knowledge
and depth of insight. A special danger
in our situation is touched upon:
How is an increased reserve of legal
tender money to be secured when it is
needed? That is the crux of the whole
question. Mr. Morawetz recalls the
portentous fact that, according to the
report of the Comptroller of the Curren-
cy, the collective individual deposits of
all the twenty thousand odd) banks and
trust companies in the United States
amounted on or about June Both, 1907, to
$13, 099, 900, 900, which their aggregate re-
serves of cash of all kinds (including
bank notes. amounted to only 81, 1l3, 742,-
900. In other words, the collective cash
reserves of all Of the banks and trust
companies amounted at the date named
to only about 8.5 per cent. of their collec-
tive deposit liabilities to individuals. How
dangerous this situation was will be OBJ
vious when we point out that the Bank of
England generally holds a reserve of
about fifty per cent. of its deposit liabil-
tiles, and larger separate reserve for
it's notes; the Bank of France, reserve
Of about eighty per cent of its deposit
liabilities and notes; and the Imperial
Bank of Germany, a reserve of about
forty per cent. of its deposit liabilities
and notes"
GA TozIA.
:, a Tho Kind Vnu unvn Ai,uov, O,urhs