"In New York the National City, the National Bank of Commerce, the First National Bank, the National Park Bank, and the Hanover National Bank take the lead, their combined deposits making a total of $662,000,000. This is indeed immense, and yet there are 5 banks in Great Britain (not counting the Bank of England) whose total deposits and current accounts make the imposing total of $1,060,000,000.

Yet the

total deposits of all the joint-stock banks in Great Britain, this time including the Bank of England, is over $1,000,000,000 less than those of the national banks of the United States.

"In Chicago there is one bank, the First National, having deposits of $95,000,000, which ranks with the first five banks in the country.

"Not a few trust companies have also attained great size. In 1905 there were 29 trust companies, 14 of them outside of New York, having assets in excess of $23,000,000. There are 5 trust companies in New York having combined deposits of $280,000,000, comparing with $662,000,000 in the five largest banks. The London Economist recently observed that concentration there had been checked for the time being. Just now this is the case in New York, but the tendency is irresistible, and it will again begin to show its power."

The more radical criticism of the banks varies from criticism of the national system to attacks upon banking altogether. It is argued that a state-bank issue would be less free from danger at the hands of agitators, since, if they did get control of the legislation of one state, they would not be likely to of all state legislations at the same time; and so the whole national system would not be endangered as if all were under the control of one national body. There are those who would do away altogether with the chartering of private banks by either state or nation as banks of issue. These argue that the present system gives enormous advantages to the favored few who have

Radical Views

capital. They point out that under the present system any five rich men can loan the government $100,000, receive interest on the same without any serious risk to themselves, and yet, while receiving this interest on the whole $100,000, can get $90,000 of this to let out again at interest as a bank. They go on to argue that our whole banking and currency system since the war, if not before, has been controlled by the bankers of our great cities wholly in their own interests. They accuse them of first scheming to put limitations upon the government issue so as to lessen its value, thus causing depreciation; secondly, of buying up this depreciated currency, and with it purchasing United States bonds at par, and then getting Congress to vote, under the pretense that honesty demanded it, the redemption of these bonds in gold (having sold them for paper); and, thirdly, on top of all this, of scheming to reduce the volume of the currency, and so to raise the value of the notes in their possession. The People's Party, therefore, all Socialists, Nationalists, Greenbackers, Knights of Labor, and many even who do not indorse Greenbackism would have all banking carried on directly by the government, without the intervention of private banks chartered by either state or nation as banks of issue. Prof. Amasa Walker, Francis Bowen, and other economists oppose such private banks. CURRENCY: GREENBACKS; PAPER MONEY; PEOPLE'S PARTY.) Philosophical anarchists and ex

(See

Banking

The banking power of the U. S., including the island possessions, consisting of capital, surplus, other undivided profits, deposits and circulation, is shown to be $15,333,865,561. These figures include funds of the national banks, amounting to $5,711,271,024; reporting state banks and bankers, $9,062,923.037; and non-reporting banks, estimated, $559,671,500.

The world's banking power in 1890 was estimated by Mulhall at $15,985,000,000, the U. S. being credited with something less than one third of that amount. The present estimate, compared with that of 1890, shows that the banking power of the U. S. has increased since that date to the extent of $10,183,900,000, or 197.7 per cent; that of the foreign countries, $8,323,500,000, or 76.8 per cent; and the combined banking power, $18,507,400,000, or 115.8 per cent.

It will be noted from the table on page 97 that the Southern States show the largest percentage of increase in deposits during the period from June 30, 1896, to June 30, 1905, the percentage of increase in this section being 246.1, followed by the Western States, where the ratio of increase is 234.6; and. in the order named, the Middle Western States with 180.3, the Pacific States 171.6, the Eastern States 129.2, and the New England States 50.1. The average of increase for the United States is 129.2 per cent.

The average individual deposit in the U. S. per capita of population has steadily risen from $69 in 1896 to $95 in 1900, $122 in 1904, and $136 in 1905. The volume of exchanges of the 103 clearing-houses in the U. S. amounted to $140,501,841,957. as against $102,356.435,047 for the year ended Sept. 30, 1904, an increase of $38,145,406,910 and the largest gain in any year since these statistics have been published. The general prosperity of the country and confidence in the stability of business credits are evidenced in the volume of clearings effected during the current year.

REFERENCES: Lombard Street, by Walter Bagehot, 1873; History of Modern Banks of Issue, by C. A. Conant, 1902; Chapters on the Theory and History of Banking, by C. F. Dunbar, 1001; Money and Banking, by W. A. Scott, 1903; Money and Banking Illustrated by American History, 1903; Growth of American Banks, by S. S. Pratt, in The Independent, 1906.

BANKS, LOUIS ALBERT: American clergyman; born at Cornwallis, Ore., 1855; educated in the public schools and at Philomath College of that state. In 1883 he was ordained an elder in the Oregon Conference of the M. E. Church, and has since served pastorates at Portland, Ore., Boise City, Ida., Vancouver and Seattle, Wash., and Cincinnati, O. Since 1886 he has been a pastor in the East where he has had prominent charges, and is now (1907) evangelist of the American Anti-Saloon League. In Vancouver he edited The Pacific Censor, state organ of the Washington Temperance Alliance, and so enraged the liquor dealers that in June of 1880 he was shot down on the streets by one of their agents. two months he preached, reclining across chairs, to eager crowds. At the State Convention of Massachusetts Prohibitionists, held Sept. 8, 1893, he was nominated governor. A voluminous writer on religious and other themes, his main sociological works are "The People's Christ" (1891), and "The White Slaves' (1892), a study of Boston sweat-shops. Address: Nyack, N. Y.

For

BAPTISTS IN RELATION TO SOCIAL REFORM: In reviewing the relation of Baptists to social reforms, it is to be borne in mind that they do not constitute an organic body capable of giving a united authoritative expression of opinion on either social or religious matters, or of taking formal and concerted action thereon. While exhibiting a remarkable unity of doctrine and polity, they are, nevertheless, simply local societies, self-governing, and independent of one another. Indeed, to the sociologist this initial statement is one of deep interest, as these local societies were, in the times of the reformatory movements of the sixteenth century, already existing as free socialistic communities, and as such are deserving of the investigation of the social reformer. Mr. Richard Heath, in an article in The Contemporary Review, has clearly shown this fact. These societies have never completely lost the early social leaven, and in all times there have been among them earnest and able advocates of social, political, and religious liberty, contending for the separation of Church and State, liberty of conscience, government by consent of the governed, the kingdom of God on earth, and the inner light and teaching of the Divine Spirit. Baptists have, therefore, naturally affiliated themselves with the radical party in social and religious affairs. And yet this same love of individual liberty and a jealousy of autocratic external control have prevented the manifestation of this progressive spirit in the erection of great institutions or the promulgation of authoritative creeds. Perhaps, aside from individual expressions of this liberty-loving spirit, the widest in

Missionary and Socialis tic Propaganda

Baptists

fluence which Baptists have exerted has been in a socialistic and missionary propaganda. Missionary zeal has ever been conspicuous among them both in home and foreign lands. In the modern missionary movement, William Carey and Adoniram Judson are conceded to rank among the foremost pioneers. In political revolutions they have been usually found on the liberal side, and many of the leaders have been drawn from among them. In the antislavery movement they took an early and decisive position, while in the Revolution they were, almost to a man, on the patriot side; and in a still earlier day Roger Williams was the first great apostle of religious liberty.

The recent social discussions have naturally awakened the interest of Baptists. In the Baptist Congress reports, almost from its commencement, in 1882, a prominent place has been accorded to social topics, and able contributions will be found in them to the solution of these questions. In the proceedings of the missionary annual meetings, which are the only general gatherings of Baptists of a national character, as well as in state conventions and local associations, social opinions of an advanced type on temperance, slavery, negro and Indian education, etc., have found expression in resolutions and memorials intended for transmission to Congress or state legislatures.

The Baptist Congress was instituted in Nov., 1882, by several clergymen and laymen "for the discussion of current questions," and has proved a very useful and efficient organization. Its inception is credited to Prof. E. H. Johnson, D.D., of Crozier Theological Seminary, Upland, Pa.

In 1889 a few of the younger Baptist ministers in the vicinity of New York commenced a paper called For the Right, devoted to Christian Socialism. It was published for eighteen months, and then discontinued for lack of financial support. The first editors of this paper were Rev. J. E. Raymond, Rev. Walter Rauschenbusch, Miss Elizabeth Post, and Rev. Leighton Williams. In Dec., 1892, a conference of Baptist ministers interested in social topics met in Philadelphia and formed an undenominational society known as the Brotherhood of the Kingdom, to be devoted to the study and propaganda of the social teachings and gospel of Jesus Christ. In August, 1893, the Brotherhood held a three days' conference at Marlborough-on-the-Hudson, discussing various aspects of the doctrine of the Kingdom of God, with a view to the publication of a volume of essays on the subject. Smiliar conferences have been held yearly since. (See BROTHERHOOd of THE KINGDOM.)

"Institutional Churches"

Perhaps the considerations already stated may explain the small number of Baptist churches which have as yet sought to exemplify the social aspects of the Gospel in the various appliances and applications now becoming common. Yet the "institutional Church," as it is coming to be called, is by no means unknown among Baptists. Mention should be made also in this article of the advanced stand which many of the Baptist preachers and authors have taken on social topics. Dr. Francis Wayland and Dr. Martin B. Anderson, exerted as educators a profound influence during the antislavery agitation and the Civil War, as did also Dr. William R. Williams by his sermons. In conclusion, it may

Bastiat

be said that as yet the relation of Baptists to social reform is not so important for any distinct contribution that they have made to its literature or to its institutions as for the illustration which their own historical descent and present condition affords of the possibility, permanence, and prosperity of self-governing, self-perpetuating social communities. They early built upon principles in the religious sphere which have since been embodied in our political constitution, and are yet to be realized in a new social régime.

LEIGHTON WILLIAMS.

BARKER, WHARTON: Banker and reformer; born in Philadelphia, Pa., 1846; was graduated from the University of Pennsylvania in 1866. The firm of Barker Bros. & Co. in 1878 acted as the financial agent of the Russian Government for the building of four cruisers. In 1879 he advised regarding the development of certain mines in Russia; and in 1887 he obtained valuable concessions in China. Barker remained a Republican until 1896, tho (since 1880) opposing the moneyed aristocracy. In 1896 he became a Populist, and in 1900 was presidential candidate of the antifusion Populists. He has written on the money question from the Populist standpoint, and in 1869 founded The Penn Monthly which, in 1880, was merged with The American, discontinued in 1905.

For the last six years Mr. Barker has urged the organization of a new party, to be called the Commonweal Party, and has striven to impress his views upon leaders among the wage-earning and salaried classes and among the farmers. He believes that the conflict between the people and the plutocrats will be fought on a platform of human rights versus property rights, for national money against bank money, for national railroads against private railroads, for a protective system that will protect the body of the people and destroy the trusts, and for direct taxation which will tax property and not persons. He stands for a foreign policy that will confine American activity to the American continent, and for an economic policy which, under commercial union, will extend free trade in America and set up a barrier against European and Asiatic_complications. Address: 608 Chestnut Street, Philadelphia, Pa.

BARNARDO, THOMAS JOHN, AND THE BARNARDO HOMES: Founder of institutions in the United Kingdom and the colonies, by which over 60,000 orphans have been cared for, and over 17,000 emigrated to Canada or other British colonies. Dr. Barnardo was born in Ireland, 1845. Educated in parish schools and hospitals in London, Edinburgh, and Paris. Becoming interested in children he boarded out a group of children in 1866; established his first home, 1867, on Commercial Road; a village for girls with about fiftytwo cottages at Ilford, 1873; Her Majesty's Hospital for Sick Waifs, 1873. Over 100 homes or branches have developed from this beginning, including an immigration depot in Ontario, and an industrial farm in Manitoba. Author, among other writings, of "Something Attempted, Something Done," and "The Rescue of the Waif." Died, 1905.

BARNES, G. MAHLON: National secretary of the Socialist party; born at Lancaster, Pa., 1866; attended Soldiers' Orphan School at

Mount Joy; learned the trade of cigarmaking; and in 1887 removed to Philadelphia. He has been five times elected secretary of the local Cigar Makers' Union, resigning the office at the end of each term and returning to the work of his trade. He has also been repeatedly elected to conventions of the Cigar Makers' International Union and of the American Federation of Labor. In 1905 he was elected national secretary of the American Socialist party. Address: 269 Dearborn Street, Chicago, Ill.

BARNES, GEORGE NICOLL: Labor member of Parliament; born at Lochee, near Dundee, Scotland, 1859. He was the son of a jute-mill employee, and was at an early age apprenticed to a Dundee engineer. Later he went to Barrow and to London, but subsequently secured work at Woolwich Arsenal, Millwall, Poplar, and Chelsea, having previously joined the union of his trade. A vacancy occurring in the council of the union by the retirement of John Burns, Barnes was elected in his place. From 1892 to 1895 he was assistant secretary of the Amalgamated Society of Engineers, and in 1896 was elected general secretary; he was prominent in the great lockout of 1897. In 1906 he was elected to Parliament from the election district of Blackfriars, Glasgow, and endorsed by the Labor Representative Committee. Address: 110 Peckham Road, S. E., London, England.

BARNETT, SAMUEL AUGUSTUS: Warden of Toynbee Hall, London; Canon of Bristol; born in Bristol, 1844; educated at Wadham College, Oxford. About 1872 he became vicar of St. Jude's Church, Whitechapel. In 1883 he presented to a small group of students, gathered in a room at Oxford, a plan for a settlement of university men to live and work among the poor. A small settlement of five men was made. Cambridge University joined with them, and in Jan., 1885. TOYNBEE HALL was founded with Mr. Barnett as warden. It was named for Arnold TOYNBEE. Mr. Barnett's central thought was that all true uplifting for the poor must come from life and from brother life. He and his wife, Henrietta O. Barnett, have been the authors of many essays and papers on various portions of the social problem, collected into a volume entitled "Practicable Socialism." Some of his more fundamental positions are as follows:

The social reformer must go alongside the Christian missionary, if he be not himself the Christian missionary.

The one satisfactory method of social reform is that which tends to make more common the good things which wealth has gained for the few. The nationalization of luxury must be the object of social reformers.

The first practical work is to rouse the town councils to the sense of their powers; to make them feel that their reason of being is not political, but social; that their duty is not to protect the pockets of the rich, but to save the people. The care of the people is the care of the community and not of any philanthropic section.

Societies which absorb much wealth and which relieve their subscribers of their responsibility are failing; it remains only to adopt the principle of the education act, of the poor law, and of other socialistic legislation, and call on society to do what societies fail to do.

He is also actively connected with the Metropolitan Association for Befriending Young Servants, with the Charity Organization Society, the School Board, the Teachers' University Association, and the London Society for the Extension of University Teaching. Address: Toynbee Hall, Whitechapel, E. London, England.

BARROWS, SAMUEL JUNE: Prison Commissioner and author; born in New York City, 1845; began work at the age of nine; received his elementary education in the night schools; studied stenography; was employed on the New York Sun, The World, and The Tribune; in 1868 became stenographic secretary to William H. Seward, Secretary of State; was graduated from the Harvard Divinity School in 1874 (B.D.). During the summers of 1873 and 1874 he was with General Custer on the Yellowstone, and in the Black Hills as correspondent to the New York Tribune. From 1874 to 1875 he studied at Leipsic, and in 1876 became pastor of the First Unitarian Church, Dorchester, Mass. From 1881 to 1897 he was editor of The Christian Register. In 1897 he was elected to Congress from the tenth district of Boston. He is one of the founders of the Massachusetts Prison Association, and helped to develop the probation system. In 1896 he was appointed by President Cleveland Commissioner for the U. Š. on the International Prison Commission, and represented the U. S. at prison congresses in Paris, Brussels, and Budapest. He is chosen to be president of the next International Congress. Barrows is corresponding secretary for the Prison Association of New York and a member of the Commission on Probation and of the Commission on New Prisons. He has been a Republican in national politics, and an Independent in municipal politics, and believes that social reform must be obtained not through paternalism but fraternalism, evolution rather than revolution. Logic of democracy means no discrimination to race, sex, and creed, and better distribution of privilege. Democracy's problem is to secure the greatest privilege for the many without restricting the privilege of the individual. Author: "Shaybacks in Camp"; "Crimes and Misdemeanors in the United States"; "A Baptist Meeting House"; "The Doom of the Majority of Mankind." Address: 135 East Fifteenth Street, New York City.

BARTON, MISS CLARA: Founder of the Red Cross Society in the United States; born in Oxford, Mass., 1821; educated at home and in the public schools. At the age of fifteen she began teaching, continuing until her twenty-fifth year, when she took the graduating course at the Clinton Liberal Institute, N. Y. A pioneer in the public-school system, she opened the first public school at Bordentown, N. J., with six pupils; the school soon had 600 pupils. Afterward she became a clerk in the U. S. Patent Office, and was the first woman in any department to draw a salary over her own signature. During the Civil War she was active in the field, distributing provisions, clothing, and medicine sent for the relief of the soldiers. In 1865, by authority of President Lincoln, she instituteď a search for missing men of the army, and succeeded in tracing 20,000 of the soldiers. At the request of afflicted people, she went about the country giving war lectures. At the outbreak of the Franco-Prussian War Miss Barton was associated with the International

Bastiat

Red Cross Society of Geneva, and was present at most of the great battles, doing splendid service. She returned to America in 1873. After five years' effort she obtained recognition of the Red Cross Society from the U. S. Government, and became first president of the U. S. society. In 1904, when the society passed under government control, she resigned her presidency, whereupon she organized and was chosen first president of the National First Aid Association of America. Miss Barton is an earnest advocate of all useful reforms: Suffrage, temperance, social purity, equal pay for equal service, etc. Author: "History of the Red Cross" (1882); "History of the Red Cross in Peace and War" (1898); “Story of the Red Cross" (1904); besides many pamphlets, reports, etc. Address: Glen Echo, Md.

BASCOM, JOHN: American author and educator; born in Genoa, N. Y., 1827; was graduated from Williams College, 1849, and Andover Theological Seminary, 1855. From 1852 to 1853 he was tutor and from 1855 to 1874 professor of rhetoric at Williams College; from 1874 to 1887 president of Wisconsin University and professor of mental and moral philosophy; and from 1891 to 1901 professor of political science at Williams College. He has written extensively for the periodical press on prohibition, labor reform, etc. His main works are: "Political Economy," Esthetics," "Science of Mind," "Philosophy of Religions," "Philosophy of English Literature," "Ethics," "Natural Theology," "Comparative Psychology," "Sociology," "Words of Christ," "New Theology,' "Social Theory," and "Growth of Nationality in U.S." Address: Williamstown, Mass.

BASLY, EMILE JOSEPH: French deputy; born at Valenciennes in 1854. Left an orphan and cared for in an asylum, he became a miner. In 1880 he organized a union at Angin, and became its general secretary. In 1884 he was active in a long strike. In 1885 he was elected to the chamber of deputies on a Socialist platform, and has been repeatedly reelected. During the strike in Decazeville in 1885 he explained the murder of one of the subdirectors as an act of popular justice. In 1887 he joined the group of republican-socialistic deputies; and in 1889 was a delegate at the International Labor Congress in Paris. Since 1900 he has been mayor and town councilor of Lens.

BASTIAT, FRÉDÉRIC: Political economist; born at Mugron, near Bayonne, France, in 1801. His father was a merchant in the Spanish trade, and he was left an orphan at the age of nine. He commenced active life in the establishment of his uncle; then tried farming at Mugron; and after the Revolution of 1830 was made justice of the peace of his canton. His first pamphlets were memoirs on local subjects; but he became interested in English writing on political economy, and it seems to have awakened him to new powers. His "Sophismes Économiques" gained him popularity and recognition. He soon became a dreaded foe of protection, and a friend of Cobden. An Association pour la Liberté des Échanges was formed at Bordeaux and another at Paris, with Bastiat as secretary. After the Revolution of 1848, he turned his shafts of wit and epigram against the Socialists, and even more against Proudhon. Elected to the Assembly of 1848-49. he spoke little, being mainly engaged on his great