RECOVERED VIGOUR 249 



Glad you are my successor, am certain you are to 

 fall under the charm of that oldest of Scottish seats of 

 learning. 



Have just read your cabled views upon National 

 Banks here. It could not be obtained, the people are 

 unwilling to create one, but we hope to get Congress 

 to allow Banks to increase circulation, say 20 or 25%, 

 upon their assets without pledging Government Bonds, 

 but paying a fine increasing as the amount swells, so 

 that only in emergencies will Banks keep the extra in 

 circulation. 



This meets the views of the Banking Association. 



We hope also to invite Governments to make treaties 

 for Arbitration with us, the President Secretary of State 

 and Senate being now nearly in accord. 



With renewed congratulations and best wishes. — 

 Very truly yours, Andrew Carnegie. 



The Emperor of Germany visited England in 

 the winter, and the Anglo - German Friendship 

 Committee took the opportunity to present him, 

 by Lord Avebury's hand, with an address express- 

 ing the hope that goodwill might prevail between 

 the two great branches of the Teutonic people. 

 Lord Avebury was very anxious to have a clause 

 in the address insisting on the mutual benefit of 

 diminishing, or at least arresting the growth of, 

 armaments, but from the German side, when 

 the draft of the proposed address was submitted 

 to them. Count Metternich requested the omission 

 of the clause. 



In answer to the request Lord Avebury writes : 



6 St. James's Square, 

 November \st, 1907. 



Dear Count Metternich — My colleagues would 

 very much regret to omit the clause about a reduction 

 of armaments. 



They consider that the gigantic armaments of 

 European Countries constitute a danger to the peace 



