For several years, it is true, the Conference at Berlin had formulated a special plan for the guidance of such of the great powers as might wish to appropriate rights under the claim of colonization or the opening of commercial markets. This code was not acceptable to all, and the Polar region had remained without inhabitants. As that which belongs to none belongs to every one, the new Society did not wish merely to occupy it, but to purchase it outright, and so avoid further claims. There never is in the United States any project so bold as not to find people to regard it as practical and back it with large amounts of money. This was well shown a few years ago when the Gun Club of Baltimore tried to send a projectile to the moon, hoping to obtain a direct communication with our satellite. Was it not enterprising Americans who furnished funds for this undertaking? Large amounts were necessary for this interesting trial and were promptly found. And, had it been realized, would we not have to thank the members of that club who had dared to take the risk of this super-human experience? Should a Lesseps propose to dig a channel across Europe to Asia, from the banks of the Atlantic to the waters of China; should a well-sinker offer to bore from the curb-stones to reach the beds of molten silicates, to bring a supply to your fireplaces; should an enterprising electrician want to unite the scattered currents over the surface of the globe into one inexhaustible spring of heat and light; should a bold engineer conceive the idea of putting the excess of Summer temperature into large reservoirs for use during the Winter in our then frigid zones; should an anonymous society be founded to do any of a hundred different similar things, there would be found Americans ready to head the subscription lists and a regular stream of dollars would pour into the company safes as freely as the rivers of America flow into the ocean. It is natural to expect that opinions were very varied when the news spread that the Arctic region was going to be sold at auction for the benefit of the highest and final bidder, particularly when no public subscription list was started in view of this purchase, as the capital had all been secured beforehand. To use the Arctic region? Why, such an idea could "only be found in the brain of a fool," was the general verdict. Nothing, however, was more serious than this project. A prospectus was sent to the papers of the two continents, to the European publications, to the African, Oceanic, Asiatic, and at the same time to the American journals. The American newspaper announcement read as follows: To the Inhabitants of the Globe: