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Ten dollars down and $6 per month until you've paid us $510 will buy a choice lot within 35 minutes of New York's famous sky-scrapers, in the wondrously fast-growing Brooklyn section—the district of which RUSSELL SAGE said (these are his exact words as published in the New York World of September 28th last): “ BROOKLYN IS GROWING AT THE RATE OF 75,000 PEOPLE A YEAR.” Then he advised as follows: " Young man, buy Real Estate, especially in the outlying boroughs, and then work hard at your usual avocation. Your Real Estate purchases will make your old age comfortable.” Wise words, based on personal experience, for Russell Sage is without doubt one of the world's greatest investors and financiers, and his reputed wealth is $100,000,000.

Your money is absolutely safe with us, as twenty National Banks, Bradstreet's and Dun's Commercial Agencies, and over 30,000 customers who have dealt with us during the last fifteen years will tell you. Investments aggregating $3,461,000 during the past year represent the endorsement of our proposition by over 4,000 individual investors.

Remember, our offer also carries a free deed in case of death, a non-forfeiture agreement, a guar. anteed increase of 25 per cent. within one year from November 1, 1902, a Free Round Trip to New York (East of Chicago or like distance), the highest class of park-like improvements free, your money back with 6 per cent. interest if not found as represented. Let us at least tell you the whole grand story in detail—then COME TO NEW YORK AT OUR EXPENSE TO PERSONALLY VERIFY

EVERY WORD WE'VE SAID You simply cannot afford to ignore our offer. We know what we have, and the thousands who have invested with us know. You should know, and can know by filling out the subjoined coupon and mailing it to us. It costs 2 cents and a minute's time. Isn't it worth while ?

WOOD, HARMON & Co., Dept. D14, 257 Broadway, New York

WOOD, HARMON & CO., 257 Broadway, New York.

GENTLEMEN: Please send full particulars of your New York properties and proposition to

“There is no doubt the property offered by Wood, Harmon & Co., in the 29th and 31st Wards, represents one of the best investments a man of limited income can possibly make within the corporate limits of Greater New York, It can be said without hesitancy that Wood, Harmon & Co. are perfectly reliable, and are worthy the fullest confidence of the investor, whether he resides in Greater New York or any other section of the United States." -THE NASSAU NATIONAL

BANK OF BROOKLYN.

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Vol. 73

January 17, 1903

No. 3

CONTENTS

EDITORIALS:
The Trust Problem: Natural Laws 149
Southern Education ...

151 A Significant Novel..

152 Impressions of a Careless Traveler. L. A. 154

.

THE WEEK: The Anti-Trust Programme.

137 The President and Negro Office-Holders. 138 Reciprocity Legislation by the “Third House”...

139 The Duty on Coal ......

140 Crimes Against Non-Union Workers... 140 The Erie Canal..

141 The Franchise Tax Assailed.

141 " Catering to the Better Element”

142 Sagasta....

143 The Irish Land Question..

144 The Dardanelles..

145 The New German Tariff....

145 The New Archbishop of Canterbury. 146 A Beecher Memorial.....

147 The Methodist Twentieth-Century Offering 147 A Congregational Encyclical...

148

CONTRIBUTED ARTICLES :
A Fight for the City.-1. The Hunting of
John Doe..

159
By Alfred Hodder
Sir William Harcourt.

166 By Justin McCarthy The Possibilities of Peat....

172 By S. Power

BOOKS AND AUTHORS :
The New International Encyclopaedia.... 175
Books of the Week..

177 CORRESPONDENCE..

181

The Outlook is a Weekly Newspaper and an Illustrated Monthly Magazine in one. It is

published every Saturday-fifty-two issues a year. The first issue in each month is an Illustrated Magazine Number, containing about twice as many pages as the regular weekly

issue, and many pictures. Price.-The subscription price is Three Dollars a year, payable in advance. Ten cents a copy. Postage is Prepaid by the publishers for all subscriptions in the United States, Hawaiian

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all other countries in the Postal Union add $1.56 for postage. Change of Address.—When a change of address is ordered, both the new and the old

address must be given. The notice should be sent one week before the change is to take effect. Discontinuances.-If a subscriber wishes his copy of the paper discontinued at the

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that a continuance of the subscription is desired. How to Remit.-Remittances should be sent by Draft on New York, Express-Order,

or Money-Order, payable to order of The OUTLOOK COMPANY. Cash should be sent in

Registered Letter
Letters should be addressed:

THE OUTLOOK COMPANY

287 Fourth Avenue, New York Copyright, 1903, by The Outlook Company. Entered as second-class matter in the New York Post-Office.

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Published Weekly

January 17, 1903

Vol. 73

No. 3

Apart from the action of the be impossible in this country, where Programme

House in passing the Gen- abundant capital is within the reach of

eral Staff Bill, which we capable and enterprising men, if compehave so often warmly commended, by a tition were assured a fair and open field. vote of 153 to 52, and the debate in the The advantages of production on a colossal Senate on party responsibility for the scale, he points out, are often more than tariff on coal, the interest of both houses counterbalanced by “the close economies last week was practically absorbed in the possible through direct, personal, interested new legislation proposed for the regulation management." "If the law will guarantee of trusts. At the very beginning of the to the smaller producer protection against week, Senator Hoar, the Chairman of the piratical methods in competition, and keep Judiciary Committee of the upper house, the highways to the market open and introduced his well-considered and unex- available to him for the same tolls pectedly radical bill, and the day follow- charged to his powerful competitor, he ing Attorney-General Knox, acting upon will manage to live and thrive to an the requests he had received from the astonishing degree.” With this view of Senate and House Judiciary Committees, the situation, he would restrict anti-trust outlined the legislation he believed essen- legislation to the securing of equal freight tial to cope with the evil of industrial rates and the prevention of what he aptly monopoly. Were it not for the overshad- calls “predatory competition.” owing importance of Mr. Knox's letter setting forth the programme of the Administration, we should describe in detail

In order to secure equal Senator Hoar's bill and outline his elab

To Secure Equal freight rates the Attorney

Freight Rates orate speech in support of it. At present,

General recommends that however, we shall only note that the bill legislation be directed against those who applies to all corporations selling their receive as well as those who give the products in other States than those in advantages of discrimination, and that which they are chartered, establishes pub- the legislation against the recipients “take licity for all their operations, and forbids the form of penalizing the transportation attempts to break down competitors by of goods produced by the guilty parties, lowering prices in specific localities or and the Federal Courts be given power to by binding purchasers not to buy of restrain such transportation at the suit of competitors. The programme of Attorney- the Government." The Attorney-General General Knox is more limited in its scope, points out

at, “ whatever Congress may but proceeds strongly along the line of have designed” in the Inter-State Comdealing with the worst evils first and merce Act, that act “as construed by the establishing in the courts the right of courts” cannot easily be employed to Congress to go further as occasion de- punish shippers for participating in unjust mands. The Attorney-General starts out discriminations. “The courts have held,” with the declaration that the end sought he says, “that to constitute an unjust disis not the destruction of combinations, crimination it is necessary to prove that but their regulation and the correction of at the time the unlawful lower rate was " the tendency toward monopolization of being granted to the favored shipper the the industrial business of the country.” higher lawful rate was imposed against In his judgment, he says, monopoly would another shipper on like commodities be

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