ons who had the log in charge decided that Mr. Bayard was the
proper person to carry the manuscript to Boston, as all arrangements had
been made with him, and so Mr. Hay's request was denied.

Before the manuscript was given to Mr. Bayard, a clerk read the
conditions of the transfer of the "log." These, among other things,
provided that certified copies should be furnished to any persons
wishing to have them.

When Mr. Bayard arrived in this country, he was asked how the English
had felt about the killing of the Arbitration Treaty.

He said that they were greatly disappointed, and that there was
universal regret in England that it had been rejected.

* * * * *

It would seem that we have too much money in New York.

Mr. Jordan, the Assistant Treasurer, has just been to Washington to see
Secretary Gage on various important matters, and among other things to
call attention to the condition of the vaults in the Sub-Treasury.

It has been known for some time that the walls of these vaults have been
forced out of plumb by the immense weight of the sacks of silver dollars
stacked against them.

When the time for counting the money came round, it was found that the
walls were so insecure that there was danger of their giving way and
crushing some of the clerks under the weight of the money-bags.

The count had to be stopped, and the bags, which contained millions of
dollars, piled up in the corridors, while a steel frame was put in, that
would be strong enough to keep all this money in safety.

The fact of there being millions of dollars in the Treasury does not
mean that such a tremendous sum of money is lying idle, while thousands
are in want of it.

Practically, every dollar of the money in the Treasury is in circulation
in the shape of the paper bills which we use as money.

These bills have no value in themselves; they are just so much printed
paper, and if we tried to sell them for the value of the paper they are
made of, we would get about ten cents for a pound of them.

The reason why they are of value to us, and we can exchange them for the
amount printed on their faces, is that for every one of these notes that
is issued, the Government deposits as many dollars in the Treasury as it
represents.

If you look on the face of the last issue of dollar bills, you will see
printed across it:

"This certifies that there has been deposited in the Treasury of the
United States o