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sive sensitiveness may, however, be condoned IIe begins by a discourse on the fui for the present in the case of Southern mem of government; but, large and deep a bers, for the cloud of war still haugs over subject is, the reader is made to feel th them. In the case of the New England writer keeps well within his depth and Senators, on the other hand, such demonstra “ The State, everlastingly, the State, tions are strangely out of measure with the inexhaustible fountain of wisdom! 1 real importance of the men.
the State ? It is certain people I che Mr. Sterne has contributed an article on elect to serve me in certain capacitie what may be called " railroad finance,” under suit my convenience. I am not wise « conditions which, though they appear extraor to select the right woman for a wife, dinary, and no doubt should be so, are in am wise enough to choose another mai reality the normal state of a large part of the it for me!" This is the answer that i American railroad system. This paradoxi to those inexpressible persons wh cally normal state is tha' of insolvency and raised the incredible demand that th reorganization. The chief cause of the should supervise marrying and giving chronic state of reorganization in which riage. But the answer is equally e western railroads, especially, flounder is the against those who believe that th artificial stimulus which, in one way or should exercise any function in the another, was applied to hasten their construc thanof enforcing a civil contract. TI tion. A very clear case is made out here, view taken by Mr. Savage. He d and the details which accompany the reor offer to solve every question which ganization of insolvent railroads, as well as invented, or explain away every the conditions which produce the anomalous which arises out of the interlacing result of causing a bankrupt to turn up at the tal, parental, and social relations. ] end of a settlement with an increased instead merely with the question of legal divo! of a decreased capitalization, are skilfully dis sees that it is not the function of the cussed. It is impossible to give in this con ment to grant divorces : the functio tracted space an adequate description of the Government is to stand aside while i conditions themselves which Mr. Sterne als perform their earthly pilgrimage describes. Perhaps the most compendious ter or for worse. In the place of ur description of his article would be to say that and regulation, he puts conscience a it tells most all of those things about railroads taneity. If these shall not avail ti of which legislators are ignorant when they woman or man from destruction, w embark on their annual expedition of reckless Government accomplish? When u railroad legislation. The solution suggested has parted, will slender threads hold for the perpetual dilemma of American railroads is the issue, after the English plan, of Of course the Federal Elections Bill debenture bonds in place of ordinary mort tutional : does not the Constitution 1 gages. Under an ordinary mortgage, as held to each State a Republican form of gov by bondholders in this country, the corpus of the railroad must, in theory at least, be
-"WI sold to satisfy the creditors when default of suppose a Democrat asked me to-day? interest occurs. Under debenture bonds, no
SECOND CONGRESSMAN. " When foreclosure can occur, and the lien is only on
journment would come?"
REP. Con. -"He asked me what it the earnings. This plau works well in Eugland, and it is claimed that it would work
say that the ratio of gold to silver w
twenty." equally well here.
SECOND CON. -"What did you tell Out of the general mass of rubbish which
REP. Con. Why, that you ( is being published on the subject of divorce
twenty dollars of silver with one o. must be carefully selected and distinguished
It's shameful how little the this article by Mr. Savage. Anyone who
crats know about finance." wants to learn how simply, tersely, and forcibly the argument in favor of having the The voice was the voice of Kenned. State - mind its own business" can be put picious folks detect in its tones a cert should read Mr. Savage to that effect.
like quality. – Philadelphia Record.
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