imposing city sprang up. The architectural designs of the new buildings were much more beautiful and dignified than those of the structures destroyed.

66

Speak softly, but carry a big stick." This aphorism, said to be a quotation from President Roosevelt, could well have come from him, for it aptly illustrates the character and policy of the man. Just how much of this spirit was responsible for the spectacular voyage of 16 battleships of the United States navy around the South American continent, to San Francisco, and thence home by the way of the Isthmus of Suez, it is impossible to say. There may have been diplomatic reasons for this remarkable display of America's power at sea, for there had been indications of restlessness in some of the South American republics regarding the policy of the United States, and an inclination on their part to reject the quasi-protectorate established over them by the operations of the Monroe Doctrine. This feeling had been in the process of incubation for a number of years in the larger republics of South America, such as Brazil, and Argentina, resulting in such purely Latin-American theories of international relations as the Drago Doctrine. Of course it is impossible to say whether this movement on the part of the republics rendered it necessary for the administration to give a signal evidence of the power of the United States, and at the same

time to pay them the international compliment of sending to their ports one of the most perfectly equipped and powerful fleets of battleships ever dispatched upon a peaceful errand.

In addition, too, there had been rumors that Japan was inclined to resent our new domination of the Pacific, and this, perhaps, had its influence in determining the extraordinary maneuver. Whatever may have been the diplomatic reasons, the fact remains that on December 16, 1907, in the presence of President Roosevelt and thousands of spectators this magnificent array of battleships broke anchorage and started on its long voyage. The ships were under command of Rear Admiral Robley D. Evans, or "Fighting Bob," as he was affectionately called. The fleet consisted of the Connecticut, Captain H. Osterhaus commanding; the Kansas, Captain C. E. Vreeland; the Vermont, Captain W. P. Potter; the Louisiana, Captain Richard Wainwright; the Georgia, Captain H. McCrea; the New Jersey, Captain W. H. H. Sutherland; the Rhode Island, Captain J. V. Murdock; the Virginia, Captain S. Schroeder; the Minnesota, Captain J. Hubbard; the Ohio, Captain C. W. Bartlett; the Missouri, Captain G. A. Merriam; the Maine, Captain G. B. Harber; the Alabama, Captain T. E. DeW. Veeder; the Illinois, Captain J. M. Bowyer, the Kearsarge, Captain H. Hutchins;

271

There were four divisions of the fleet: the first, under command of Rear-Admiral Evans; the second, under Rear-Admiral William H. Emory; the third under Rear-Admiral Charles M. Thomas; and the fourth under command of Rear-Admiral Charles S. Sperry. The fleet was manned by some 14,000 men, and the value of the ships and stores was estimated to be approximately $100,000,000. The first point touched in its itinerary was Port au Spain, Trinidad, December 29, 1907. Leaving there, the ships proceeded to Rio Janeiro, Brazil, arriving January 12, 1908. Here they were royally entertained by the citizens of the Brazilian capital, and left on the 22d for the Straits of Magellan, arriving at Punta Arenas, Chile, February 1. At this point the ships commenced their northward journey to the Pacific Coast of the United States, touching at Valparaiso, Chile, and Callao, Peru, finally arriving at Magdalena Bay, Mexico, where a month was spent in target practice. The first part of the voyage was ended by the arrival of the fleet at San Francisco, May 6, the ships having been at sea over two months. On July 7, pursuant to orders from Washington, the fleet began the long voyage by the way of Europe back to its starting point. On this journey it visited Hawaii, Australia, the Philippines,

After passing through the Canal, a month was spent visiting Mediterranean ports, during which time the fleet was honored by the crowned heads of Greece and Italy; the king and queen of Greece dining on board one of the battleships, and RearAdmiral Sperry being entertained at Rome by the king of Italy. On February 6 the ships left Gibraltar on their homeward voyage across the Atlantic, arriving at Hampton Roads, February 22, 1909.

In this voyage, perhaps the most remarkable ever made by a fleet of battleships, 45,000 miles were traveled, the time occupied being a year and two months, or 433 days. Of these 190 were spent in cruising, and 243 in various ports. The fleet visited every continent on the globe, and sailed across every important sea. During the journey around South America the health of Admiral Evans

became very precarious, and although he maintained command of his fleet, he did so during a period of great physical distress. On the arrival at Magdalena Bay, he relinquished the command, being succeeded by Rear Admiral Thomas, who, in turn, a few days later, was relieved by Rear Admiral Sperry, under whose command the fleet continued its circumnavigation of the globe.

The tremendous industrial expansion that set in soon after the close of the war with Spain, began as early

66

as 1904, to bear the logical fruits of such an era of prosperity. Many rumors gained circulation that there were men in the saddle at the financial center of the nation, New York City, who were apparently riding to a fall. These had failed to recognize the fact that deeds tending to throw discredit on the methods of business in vogue at that place would rapidly plunge the whole country into economic chaos. One of these accusations was to the effect that certain high financiers " were gaining control of banks and insurance companies in order to use their surplus in furthering speculative enterprises of a decidedly questionable nature. The proof of this fact was brought to the public attention in a sudden and almost accidental manner, through the exposures developed by a noisome family quarrel in the Equitable Life Insurance Company. This company had experienced a long and very successful career under its founder and president, H. H. Hyde, whose share in the property had passed upon his death to his son, James H. Hyde, the presidency falling to J. W. Alexander. Mr. Hyde, it seemed, had but the slightest conception of his responsibilities and had abused his power over the resources of the company in a manner that menaced its integrity and threatened the savings of thousands of people. As the result a feud was inaugurated between the president of the company and himself that soon

reached the columns of the public press. The revelations were so extraordinary that an investigation became imperative, which under the skillful direction of Charles E. Hughes, was extended to all companies doing life insurance business. The report of the Armstrong Committee of the New York legislature (February, 1906), which had undertaken this highly desirable piece of house-cleaning, revealed a condition of affairs almost beyond belief. It was shown that many of the great companies were in the hands of officials who were guilty of every abuse from negligence to actual embezzlement; that vast sums of money were spent in bribing legislators, and still more vast ones paid to officials who did nothing more than sign the receipts; that schemes of promotion were financed by the companies through the influence of insurance officials who hoped to profit by the same. These and many other irregularities were brought to light, and as a consequence criminal action was brought against five of the officials, which with suicides, deaths, exiles, and resignations, effected a more or less cleansing of the insurance household. Legislation for the purpose of preventing a recurrence of such conditions has been passed by New York (1906) and the majority of the other States, that of Texas being so drastic that 14 companies left the State immediately upon its passage. A bill for Federal regulation was proposed