made to work, as in that locomotive for great human purposes." The idea was certainly a most striking and original one; like a flash of light, it illuminated in an instant an entire field of science.

JEFFERSON ON PUBLIC DEBTS AS
PUBLIC BLESSINGS.

[THOMAS JEFFERSON (1743-1826), third President of the United States, was one of the most accomplished scholars and original minds in the early history of the United States. He wrote the Declaration of Independence of the United Colonies, adopted July 4, 1776. His Notes on Virginia (1783), reprinted in more than twelve editions, are full of acute observation, careful and scientific state

ment and copious suggestions for improvement. Jefferson's early studies into the sources of law and political institutions gave him great prominence as a leader in

the struggle for independence. He was the author of the Virginia statute of entire religious freedom, the founder of the University of Virginia, and a zealous ad

place between himself and Dr. Buckland on | one of his favorite theories as to the formation of coal. But the result was, that Dr. Buckland, a much greater master of tonguefence than Stephenson, completely silenced him. Next morning before breakfast, when he was walking in the grounds deeply pondering, Sir William Follett came up and asked what he was thinking about? Why, Sir William, I am thinking over that argument I had with Buckland last night. I know I am right, and that if I had only the command of words which he has, I'd have beaten him." "Let me know all about it," said Sir William, "and I'll see what I can do for you." The two sat down in an arbor, where the astute lawyer made himself thoroughly acquainted with the points of the case; entering into it with all the zeal of an advocate about to plead the dearest interests of his client. After he had mastered the subject, Sir William rose up, rubbing his hands with glee, and said: "Now I am ready for him." Sir Robert Peel was made acquainted with the plot, and adroitly intro-vocate of common schools and the abolition of slavery. duced the subject of the controversy after dinner. The result was, that in the argument which followed, the man of science was overcome by the man of law; and Sir William Follett had at all points the mastery over Dr. Buckland. "What do you say, Mr. Stephenson? asked Sir Robert, laughing. "Why," said he, "I will only say this, that of all the powers above and under the earth, there seems to me to be no power so great as the gift of the gab."... One Sunday, when the party had just returned from church, they were standing together on the terrace near the hall, and observed in the distance a railway train flashing along, throwing behind it a long line of white steam. "Now, Buckland," said Mr. Stephenson, "I have a poser for you. Can you tell me what is the power that is driving that train ?" "Well," said the other, "I suppose it is one of your big engines." "But what drives the engine?" Oh, very likely a canny Newcastle driver." "What do you say to the light of the sun?" "How can that be?" asked the doctor. "It is nothing else," said the engineer; "it is light bottled up in the earth for tens of thousands of years-light absorbed by plants and vegetables, being necessary for the condensation of carbon during the process of their growth, if it be not carbon in another form -and now, after being buried in the earth for long ages in fields of coal, that latent light is again brought forth and liberated,

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Governor of Virginia, Minister to France, the first Secretary of State in Washington's Cabinet, Vice-President of the United States, and President for eight years (1801-1809), he retired to his plantation, the most popular of American citizens next to Washington, spending a serene old age at Monticello in study, correspondence and agricultural pursuits, and in watching over the university which he founded.]

At the time we were funding our national debt, we heard much about "a public debt being a public blessing;" that the stock representing it was a creation of active capital for the aliment of commerce, manufactures and agriculture. This paradox was well adapted to the minds of believers in dreams, and the gulls of that size entered bona fide into it. But the art and mystery of banks is a wonderful improvement on that. It is established on the principle that "private debts are a public blessing." That the evidences of those private debts, called bank notes, become active capital, and aliment the whole commerce, manufactures and agriculture of the United States. Here are a set of people, for instance, who have bestowed on us the great blessing of running in our debt about two hundred millions of dollars, without our knowing who they are, where they are, or what property they have to pay this debt when called on; nay, who have made us so sensible of the blessings of letting them run in our debt, that we have