Although the great ocean will always hold Europe at arm's length from us, yet the currents of belief and sympathy bring its various peoples near to us in various ways. I remember to have taken note of this long before the ocean steamships brought the eastern hemisphere within a few days' journey from our own seaboard, and very long before the time-annihilating cables were dreamed of. The French have always had with us the prestige of their social tact and sumptuary elegance. The English manners are affected by those among us who mistake the aristocracy of position for the aristocracy of character. The Italians rule us by their great artists in the past, and by their subtle policy in the present. The Germans have, as they deserve, the pre-eminence in music, in metaphysics, and in many departments of high culture. I have not long since been taken to task by a writer in a prominent New York paper for some strictures regarding the quasi-omnipotence of money in the society of to-day. The writer in question enlarged somewhat upon the greatly increased expenditure of money in our own country, as if this must be considered as a good in itself. He concludes his statement by remarking that Mrs. Howe has never studied the proper significance of the money question. I desire to say here only that I have not neglected the study of this question, which so regards the very life of society. One of its problems I have ventured to decide for myself, viz., whether the luxury of the rich really supports the industry of the poor. The æsthetic of luxury is a mean and superficial one. The critique of luxury is compliant and cowardly; and, despite its glittering promise to pay any price for what it desires, luxury orders poorly, pays poorly, and in the end undermines the credit of the State, the very citadel of its solvency. I regret and deplore its prevalence to-day, and consider it not as the safeguard, but as the most dangerous enemy of republican institutions. In our America, ay, even in our Puritan New England, the day has come in which economy is a discredit and poverty a disgrace. With the common school ever at work to lift the social level, unfolding to the child of the day-laborer the page which instructs the son of the peer, the cry is still that money is God, and that there is none other. One may ask, in the business streets, whether rich people have any faults, or poor people any virtues. A woman who sells her beauty for a rich dower is honored in church and in State. Both alike bow to the money in her hand. One proverb says that Time is money, as if it were "Only that, and nothing more."