8

8. Each bank must keep on deposit in the treasury of the United States
lawful money equal to five per cent. of its circulation as a fund
for redeeming the same. This five per cent. may be counted as
part of its lawful reserve. This does not relieve banks from the
duty of redeeming their notes at their own counters on demand.

The police regulations of Paris are very good, but not so good as those

of London, though New York might learn from her many useful lessons
The police regulations of Paris are very good, but not so good as those
of London, though New York might learn from her many useful lessons.
Rogues thrive better in Paris than in London. The Paris policeman wears
no distinctive dress, and there are streets in which if you are attacked
by night, your cries will call no officer to the rescue. The police have
been proved often to be in league with bad men and bad women, and these
cases are occurring from day to day. I should not like to walk alone on
a winter"s night, after midnight, anywhere for half a mile on the
southern side of the Seine. Some of the streets are exceedingly narrow,
and are tenanted by strange people. Still, one might have many curious
adventures in them, and escape safely--but _La Morgue_ tells a
mysterious tale every day of some dark deed--a suicide or a murder,
perhaps.

The best performance of the service of transportation by rail requires

the fullest possible co-ordination of the different parts of our
transportation system and the largest attainable measure of
co-operation among the agents who perform the service
The best performance of the service of transportation by rail requires
the fullest possible co-ordination of the different parts of our
transportation system and the largest attainable measure of
co-operation among the agents who perform the service. Section 4 of
the act of 1887 and the law of July, 1890, as far as the latter
relates to railways, are based on an unsound theory. Provision having
been made for that kind and measure of governmental regulation of
railway rates that will insure reasonable charges, the railways should
be permitted to co-operate in rate-making and be given power to pool
their competitive business.