CES ANDREWS 840
Plaza of the Poets:
Glad Tidings MARION MILLS MILLER 849
The Yule Log CLINTON SCOLLARD 852
How to Get an Article in a Magazine THE EDITOR 853
The Editor's Evening: Sir Thomas Kho on Education; Journey
and Sleep (a Sonnet) 855

BOOK REVIEWS.

The Emperor 137
President Jordan's Saga of the Seal 284
Some Prehistoric History 426
A Bard of the Ohio 572
Critic, Bard, and Moralist 717
Guthrie's "Modern Poet Prophets" 860

ILLUSTRATIONS.

Opposite Page
HON. CHARLES A. TOWNE 1
DR. DAVID STARR JORDAN 145
MULTIPLE-STANDARD TREASURY NOTE OF MASSACHUSETTS BAY 289
DR. E. BENJAMIN ANDREWS 433
GOVERNOR JOHN R. ROGERS 577
CAMILLE FLAMMARION 721
PSYCHIC SEANCE WITH EUSAPIA PALADINO 737

THE ARENA.

Vol. XVIII. JULY, 1897. No. 92.

THE CITADEL OF THE MONEY POWER.

I. WALL STREET, PAST, PRESENT, AND FUTURE.

BY HENRY CLEWS.

I.

The twenty-seven respectable citizens of New York who, in 1792, met
under a buttonwood tree in front of the premises now known as Number
60 Wall Street, and formed an association for the purchase and sale of
public stocks at a fixed and unvarying commission, with a proviso of
mutual help and preference, committed themselves to an enterprise of
whose moment and influence in the future they could have formed no
adequate conception. At that date Wall Street was a banking district,
small indeed when compared with its present condition, but important
in its relations to the commerce of the nation. This transaction of
the twenty-seven--among whom we find the honored names of Barclay,
Bleecker, Winthrop, Lawrence, which in themselves and their
descendants were, and are, creditably identified with the growth of
the community--ad