PRESENT HOME OF THE MAGAZINE OF HISTORY ITS MEMORIES AND ASSOCIATIONS [By a member of the Delta Chapter of the Psi Upsilon Fraternity, New York University.] The present home of the MAGAZINE OF AMERICAN HISTORY in Scribner's building in Broadway, was for several years occupied as the rooms of the Delta (New York University) Chapter of the Psi Upsilon Fraternity. The rooms were especially hallowed, for there formerly had been the sanctum of that loyal Psi U., Dr. J. G. Holland. It was sad for us to leave these old rooms with their many pleasant memories and associations indissolubly connected with them. Many graduates were present at our farewell meeting. One graduate brother in his eloquent reminiscence drifted into the speculation once announced by our late professor, John W. Draper. substance he spoke as follows: "Every sound uttered in a room and every ray of light thrown on the walls produces a permanent change in the molecular structure of the walls. The sounds are recorded as unerringly as the foil preserves the dots and dashes in the phonograph; and the walls are ever ready and sensitive plates, always taking pictures." Now, should anyone discover a process of unraveling from these walls the sounds recorded upon them, and of developing this wonderful negativewhat sounds! what scenes! Psi Upsilon would no longer be a secret society. The stirring eloquence of the Sophomore, the flashes of wit, bursts of humor, the pathos of the eulogies on our departed brethren, the melody of the songs we have sung, all would be revealed to the ears of the profane and uninitiated. And by the other process, unhallowed eyes would behold the walls adorned with scenes both terrible and sublime. The roaming of the goat (strange, none believe we have a goat), the ghastly grinning skulls, the bloody guillotine, the black coffin, the fires, the tortures, the terrible ordeals to test freshman fidelity, and all the unutterable mysteries would stand forth in fresco on the walls of our lodge room! And it would be converted into history for succeeding generations! This delicate process will be found when the Philosopher's stone works its magic. And then the " New Zealander" will sit upon the ruined towers of our great bridge, and then the walls of the Hall of the Delta will be a dust heap; thus will Psi Upsilon preserve her mysteries. Her words are graven on the tablets of our hearts, her deeds are painted in living colors on our memories-they are immortal. WALTER BOOTH ADAMS ORIGINAL DOCUMENTS An Interesting Private Letter of President James Buchanan. [Editor of Magazine of American History.-The following letter came into my hands through the favor of a gentleman of world-wide fame, who received it from Mr. Phelps some time before his death. I am left free to publish it, but the responsibility is my own. The letter bears date December 22, 1860, two days after the secession of South Carolina. At that time there was some hope that Congress might agree to the Crittenden Compromise. An act of Congress of 17th December had authorized the issue of treasury notes; the advertisement inviting bids for them was then out, and New York was looked to for the bulk of subscriptions to the loan. Thus we may behold the key to the letter. It is evident from Mr. Buchanan's appeal to his personal and political friend that he wished to convince him that it would be for the interest of New York to take the loan. Deeply regretting the attempted secession of the cotton States as Mr. Buchanan did, this and other documents show that he never had the slightest inclination to part with them.-HORATIO KING.] President Buchanan to Royal Phelps, Esqr. Private. Washington, 22nd December, 1860. My dear Sir, I have received your favor of the 20th inst. and rejoice to learn the change of public sentiment in your city. Still secession is far in advance of reaction and several of the Cotton States will be out of the Union before anything can be done to check their career. I think they are all wrong in their precipitation, but such I believe to be the fact. It is now no time for resolutions of kindness from the North to the South. There must be some tangible point presented and this has been done by Mr. Crittenden in his Missouri Compromise resolutions. Without pretending to speak from authority, I believe these would be accepted though not preferred by the South. have no reason to believe that this is at present acceptable to the Northern Senators and Representatives, though the tendency is in that direction. They may arrive at this point when it will be too late. I cannot imagine that any adequate cause exists for the extent and violence of the existing panic in New York. Suppose most unfortunately that the Cotton States should withdraw from the Union, New York would still be the great city of this continent. We shall still have within the borders of the remaining States all the elements of wealth and prosperity. New York would doubtless be somewhat retarded in her rapid march; but possessing the necessary capital, energy, and enterprise, she will always command a very large portion of the carrying trade of the very States which may secede. Trade cannot easily be drawn from its accustomed channels. I would sacrifice my own life at any moment to save the Union, if such were the will of God; but this great and enterprising and brave nation is not to be destroyed by losing the Cotton States; even if this loss were irreparable, which I do not believe unless from some unhappy accident. I have just received an abstract from the late census. In the appointment of Representatives the State of New York will have as many in the House (30) as Georgia, Florida, Alabama, Mississippi, Louisiana, Texas, and South Carolina united. The latter State contains 296,422 free people and 408,905 slaves, and will be entitled in the next Congress to 4 Representatives out of 233. Why will not the great merchants of New York examine the subject closely and ascertain what will be the extent of their injuries and accommodate themselves to the changed state of things? If they will do this, they will probably discover they are more frightened than hurt. I hope the Treasury note Loan may be taken at a reasonable rate of interest. No security can be better, in any event, whether the Cotton States secede or not. Panic in New York, may however, prevent; because panic has even gone to the extent of recommending that the great city of New York shall withdraw herself from the support of at least 25 millions of people and become a free city. I had half an hour and have scribbled this off in haste for your private use. Royal Phelps, Esq. Your friend, very respectfully, James Buchanan. Unpublished Papers Relating to the First Steamboat on Lake George. From the Collection of Hon. T. Romeyn Beek, M.D., of Albany, now in possession of Mrs. Pierre Van Cortlandt. [The multitude of pleasure seekers who frequent Lake George and its picturesque surroundings every season will appreciate the following copies from the original documents, showing how recent was the first steamboat enterprise in connection with that charming inland sea.—EDITOR.] Clermont, 17 July, 1821 We have agreed with James Caldwell Esq. and his associates to grant them a license to build a boat or boats on Lake George and to give them our right to an exclusive Navigation thereon during the continuation of our State and United States patents upon the following terms. We will charge them nothing till they receive eighteen pr Cent clear of all expenses upon the Capital they expend in such boat or boats and if the boat or boats makes a greater dividend, we then are to divide equally with the said Company, one half of such excess going to the Company the other half to Rob R Livingston & Rob! Fulton; that is, if the boat clears twenty per Cent then one per Cent is to be paid to the Subscribers and so in proportion for every increased dividend. As soon as the Company is formed, a proper article of Agreement to be entered into by the said Rob. R Livingston Rob. Fulton and the said Company. I accept on the part of the Company the above agreement. Subscribers to the Steam Boat to ply from Caldwell on Lake George to Ticonderoga distance 3134 miles, The Boat to Contain about 50 Passengers and to be built and Navigated to the Best advantage as the Company may think proper; We the Subscribers agree to the above and do hereby sign our names and do promise to fulfil the Same. Memorandum, probably addressed to Livingston & Fulton, "We wish to have your opinion respecting the power of the engine necessary to propel a boat of the dimensions mentioned & on which plan you would advise the Machinery to be constructed our first idea purporting the dimensions was 80 feet keel & 18 feet beam, but we thought the length would not afford sufficient accomodations aft the works, as it will be necessary to have a Cabin for the Ladies Separate from dining Cabin which ought be 30 feet long. NOTES THE CHARACTER OF JOSEPH II-In his fifth volume Mr. Lecky writes: "The death of Maria Theresa, in 1780, and the accession of Joseph II. to his full power, gave a complete change to Eastern politics. The character of Joseph is a curious study. He was undoubtedly superior in intelligence to the average of European monarchs; he was as exemplary as his mother in the industry with which he devoted himself to the duties of his office, and he had a most real desire to leave the world better than he found it; but a deplorable want of sound judgment, of moral scruple, and of firmness and persistency of will, made him at once one of the most dangerous sovereigns of his time. Ambitious, fond of power, and at the same time feverishly restless and impatient, his mind was in the highest degree susceptible to the political ideas that were floating through the intellectual atmosphere of Europe, and he was an inveterate dreamer of dreams. Large, comprehensive, and startling schemes of policy-radical changes in institutions, manners, tendencies, habits, and traditions-had for him an irresistible fascination; and when he saw, or thought he saw, the bourne to which political forces were tending, it was his natural impulse to endeavor to attain it at once. His policy in foreign affairs consisted chiefly of daring and adventurous enterprises, rashly undertaken and fitfully and irresolutely conducted. In domestic affairs it consisted partly of great reforms in perfect accordance with the most enlightened political speculation of his time, but forced into a precipitate maturity, with no regard for the habits, wishes, and prejudices of his subjects, and partly of a series of unjustifiable attempts to destroy the restraints which, in some parts of his dominions, custom and law had imposed upon his authority." POLITICAL PARTIES-The surprising tenacity with which people cling to the party of their choice very naturally di rects attention to the historical character of these parties. They are like large trees which cannot be blown over, because of the years during which their roots have been striking deeply into the earth. To become acquainted with either of the great political parties of our land you must trace its roots all through each other ever since the birth of the those agitations which have followed conflict which almost accomplished its nation, and especially through that great disruption. These parties are what they are to-day because they are not a fabrication but a growth, and therefore they cannot be taken apart and built up at will.-Levi Parsons in the Princeton Review for June. SATIRE AND HUMOR-We were talking over the use and abuse of satire, and it so fell out that three of the party in succession gave each an illustration of the keenest thrust he had ever heard. Probably some of them have been put in print before; but they were new to the Spectator, and he ventures to assume that they will be new to some of his readers. "I think," said number one, "that the keenest sentence I ever remember to have heard, I once heard from Chauncey M. Depew in a private conversation at a |