have the exclusive right to shoot at something. Call to mind the New
York City millionaire, who purchased an English estate, one to fit the
title he is lick-spittling after, and where he can rest, after airing
his mind in his great London Daily and Monthly; all three, estate and
periodicals, being a source of loss, that is made good by American
earned money. Call all these things to mind, and if we are poor in
capital have we not found the reason why?

Europe is the Broadway of these people, and they are there to squander
money, not to make it. And the European visitor to our shores does not
make up the loss. He comes, looks at some of our landscape, Niagara, the
Yosemite, etc., and is out of the country and home again. His is but a
drop to the ocean we lose.

Need we wonder at our gold disappearing? Our bonds and stocks,
Government and corporation, are scattered broadcast over the whole of
Europe, and those decrepit titles, that were dying out, have been put on
their feet again by American money, and are now living off the interest
of American bonds of one kind or another.

Nor should we have to borrow foreign capital. It is over a century since
this government was established, and it is time we had enough capital of
our own.

But the United States Treasury is, and has been for over thirty years,
the clearing house for the foreign holders of American securities. We
are a mortgaged nation, and the office of our National Treasury is the
place of all others where our foreign owners should get their interest.
We are still in possession of the office, however, and in this we are
ahead of Egypt, but it will take much hair-splitting to show any