38 THE ALUMNI JOURNAL 



assigned to him in the magnificent building, a post or pillar near 

 which he stands; Meier is at Post n, Muller at post 8, Schulz at 

 post 12; everybody knows where to find each one. From the 

 fact that they only meet at one o'clock, they have been able to 

 receive and digest their cables from foreign correspondents, to 

 post themselves as to market conditions and even to draw samples 

 of different lots which may have been offered to them. They come 

 to the Exchange prepared to do business, and it is pleasing to the 

 pride of an American when he sees the effect that follows the 

 news, "America is buying." It is a well known fact that the 

 people of the United States are the largest drug consumers on 

 earth. We use more drugs per caput than any other nation, 

 civilized or uncivilized, and when those who are not familiar 

 with this fact bring forth statistics that, for instance, the quan- 

 tity of Opium imported into the United States is so much per 

 caput than for Germany or Belgium, and then draw the con- 

 clusion that everything above the proportion consumed by Germany 

 and Belgium is used for illegitimate purposes, I say that these 

 men do not know that we have the happy faculty of consuming 

 drugs to a degree which no other nation does ; not only we, but 

 our animals. We dose our cattle and our horses to an extent that 

 is unknown in Europe. 



One of the things which has made Hamburg such an important 

 market is its free port ; there goods can be stored for an indefinite 

 period without the payment of duty. The warehouses there are 

 constructed in the most practical manner. On one side are road- 

 ways where trucks can load and unload, and on the other side are 

 canals where lighters can load and unload, which helps to make 

 the port charges of Hamburg very reasonable compared with 

 those of London and other ports, and these port charges form 

 a very important item in the expense connected with the. busi- 

 ness. I believe that Hamburg has an advantage there that no 

 other port possesses ; heavy merchandise, I believe, is handled at 

 less expense than at any other place. These warehouses are 

 let either to individual tenants, who hire them by the year, or 

 anyone can store in this free port any quantity of merchandise 

 at a low rate, so much per barrel per month, etc. All the larger 

 drug houses have their own warehouses, hired by the year, in this 

 free port. 



