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THE LATE J. P. MORGAN

Copyright by Pach Bros., N. Y.

THE MOST POWERFUL FINANCIAL LEADER OF OUR TIME, WHOSE GENIUS FOR ORGANIZATION AND WHOSE DOMINATING PERSONALITY CHIEFLY PRODUCED THE ERA OF CORPORATE CONSOLIDATION WHICH IS THE MOST SIGNIFICANT MODERN ECONOMIC PHENOMENON

MAY, 1913

NUMBER I

VOLUME XXVI

T

THE MARCH OF EVENTS

HE FATES have so far been very kind to Mr. Wilson's Administration, which is another way of saying that he is energetically and efficiently doing his tasks; for the Fates help them that help themselves. The President and his Cabinet have made a distinctly and uniformly good impression on the country.

Mr. Wilson's refusal to give his time to office-seekers; the decorous but rigid refusal of the Secretaries to become office-brokers; the evident aim to secure efficiency by their appointments; the clear-cut and quietly announced policies of the President, such as his repudiation of "dollar diplomacy"; the conduct of Secretary Garrison in visiting the flooded cities of the Middle West and his promptly announced policy regarding the army; Secretary Daniels's requiring sea-duty of naval officers, thus breaking up the long residence of many of them at Washington; Secretary Houston's far-reaching constructive plans for organizing and developing rural life; the vigorous grip that PostmasterGeneral Burleson has taken on his tangled department and his refusal to turn it into an office-brokerage shop; the President's own quiet, determined, diligent doing of his

business and his sal to go speech

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It is an interesting proof of the excellent working of our governmental machinery as well as of the character and common sense of the American people that a change not only of the high personnel of the Government but a change of party control brings no jar. In those important offices, where one set of men now work instead of another set of men who worked there a few months ago, the public business goes on as before in some of them better, perhaps in some less well; but it all goes on smoothly.

Reefs and storms will be encountered, of course. It would be as unwise to predict fair weather for four years as it would be wicked to predict bad weather: the wise man waits and hopes and helps. But it can be safely set down already that the new Administration has made an admirable beginning, and the public opinion of the country has cheerfully responded, by favorable comment and, still more, by its silent approval. It is a distinctly auspicious beginning.

pyright, 1913. by Doubleday. Page & Co. All rights reserved

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DR. JOHN BASSETT MOORE

PROFESSOR OF INTERNATIONAL LAW AND DIPLOMACY IN COLUMBIA UNIVERSITY, AND INTERNATIONAL JURISPRUDENCE, WHO WAS ONE OF THE FOREMOST AUTHORITIES ON

RECENTLY APPOINTED COUNSELOR TO THE STATE DEPARTMENT

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