giant refreshed from slumber.

Mr. Clews's article on "Wall Street, Past, Present, and Future," is a
most gentle and dove-like performance. It is not a paper intended to
produce alarm, but to allay it. It is one of the finest examples of a
literary opiate that I have ever seen. The bottom theme of the paper
is that Wall Street is a natural growth, and is therefore inevitable.
Wall Street has come by a gentle evolution. Good men and true have
conspired with nature to bring it forth. Under natural and necessary
conditions Wall Street has appeared in our American system, and under
these conditions it flourishes. Whatever great fact in society has
thus appeared has been born of necessity and out of the nature of
things. If Wall Street have been born out of necessity and the nature
of things, then it has come of righteousness, and is the child of
truth. If of righteousness and truth, then Wall Street is good as well
as glorious. That which is good and glorious ought to be admired and
honored. Whatever is admired and honored, whatever is good and
glorious, should have influence and power in society and state. Such a
golden product of evolution is Wall Street; therefore the sceptre
which Wall Street stretches forth over the prostrate Western world
should be obeyed and upheld by the voice and hand of the American
people.

Not only so, but the sceptre should be extended. The empire of Wall
Street should become universal. It should be enlarged and confirmed
until all outlying kingdoms and all islands of the sea shall pass
under the beneficent sway of this monarchy of the world! Then with Mr.
Clews we may well consider his "reasonable forecast of the future."
With him we shall be able to see "that in due time the weighty import
of the names of Lombard and Threadneedle Streets will be transferred
to the name of Wall Street." With Mr. Clews we shall be able to see
that "the facts implied by such a transfer are of a dignity and power
which it is impossible to estimate." Then, finally, with Mr. Clews we
shall agree that "the road leading to this great destiny _can only be
blocked by legislation_." Mr. Clews says "injurious" legislation.
Certainly; that is true--most true. The consummation hoped for by Mr.
Clews can verily be blocked by legislation! But when it comes to the
definition of "injurious" how fearfully do we part company! The writer
of "Wall Street, Past, Present, and Future" flatters himself, in fine,
with the belief that