Returning to England, there are the Shakespeare folio editions of 1632 and 1685; the first of his printed “Poems” and the “Rape of Lucrece;” an early quarto of “Othello;” the first edition of Ben Jonson, 1616, in which Shakespeare’s name appears in the cast for a play; and letters from the Earl of Southampton, Shakespeare’s friend, and Sir Walter Raleigh, Francis Bacon, and Essex. There is also a letter written by Oliver Cromwell while he was engaged in the conquest of Ireland.

The relics, documents, and letters illustrating our civil war are constantly being added to. There are many old engravings, caricatures, and broadsides. Of oil-portraits there are three originals of Washington, one by Stuart, one by Peale, one by Polk, and I think I remember one or two miniatures. There is also a portrait in oil of Shakespeare which may become important. The original canvas has been remounted, and there are indubitable signs of its age, although the picture can be traced back only about one hundred and fifty years. The Owner hopes to be able to prove that it is a contemporary work. The interesting fact about it is that whilc it is not remarkable as a work of art, it is recognizable at once as a likeness of what we suppose from other portraits and the busts to be the face and head of Shakespeare, and yet it is different from all other pictures w know, so that it does not suggest itself as a copy.

The most important of Mr. Gunther’s collection is an autograph of Shakespeare; if it prove to be genuine, it will be one of the four in the world, and a great possession for America. This autograph is pasted on the fly-leaf of a folio of 1632, which was the property of one John Ward. In 1839 there was published in London, from manuscripts in possession of the Medical Society, extracts from the diary of John Ward (1648-1679), who was vicar and doctor at Stratford-on-Avon. It is to this diary that we owe certain facts theretofore unknown about Shakespeare. The editor, Mr. Stevens, had this volume in his hands while he was compiling his book, and refers to it in his preface. He supposed it to have belonged to the John Ward, vicar, who kept the diary. It turns out, however, to have been the property of John Ward the actor, who was in Stratford in 1740, was an enthusiast in the revival of Shakespeare, and played Hamlet there in order to raise money to repair the bust of the poet in the church. This folio has the appearance of being much used. On the fly-leaf is writing by Ward and his signature; there are marginal notes and directions in his hand, and several of the pages from which parts were torn off have been repaired by manuscript text neatly joined.

The Shakespeare signature is pasted on the leaf above Ward’s name. The paper on which it is written is unlike that of the book in texture. The slip was pasted on when the leaf was not as brown as it is now, as can be seen at one end where it is lifted. The signature is written out fairly and in full, William Shakspeare, like the one to the will, and differs from the two others, which are hasty scrawls, as if the writer were cramped for room, or finished off the last syllable with a flourish, indifferent to the formation of the letters. I had the opportunity to compare it with a careful tracing of the signature to the will sent over by Mr. Hallowell-Phillips. At first sight the two signatures appear to be identical; but on examination they are not; there is just that difference in the strokes, spaces, and formation of the letters that always appears in two signatures by the same hand. One is not a copy of the other, and the one in the folio had to me the unmistakable stamp of genuineness. The experts in handwriting and the micro-scopists in this country who have examined ink and paper as to antiquity, I understand, regard it as genuine.

There seems to be all along the line no reason to suspect forgery. What more natural than that John Ward, the owner of the book, and a Shakespeare enthusiast, should have enriched his beloved volume with an autograph which he found somewhere in Stratford? And in 1740 there was no craze or controversy about Shakespeare to make the forgery of his autograph an object. And there is no suspicion that the book has been doctored for a market. It never was sold for a price. It was found in Utah, whither it had drifted from England in the possession of an emigrant, and he readily gave it in exchange for a new and fresh edition of Shakespeare’s works.

I have dwelt upon this collection at some length, first because of its intrinsic value, second because of its importance to Chicago as a nucleus for what (I hope in connection with the Newberry Library) will become one of the most interesting museums in the country, and lastly as an illustration of what a Western business man may do with his money.

New York is the first and Chicago the second base of operations on this continent—the second in point of departure, I will not say for another civilization, but for a great civilizing and conquering movement, at once a reservoir and distributing point of energy, power, and money. And precisely here is to be fought out and settled some of the most important problems concerning labor, supply, and transportation. Striking as are the operations of merchants, manufacturers, and traders, nothing in the city makes a greater appeal to the imagination than the railways that centre there, whether we consider their fifty thousand miles of track, the enormous investment in them, or their competition for the carrying trade of the vast regions they pierce, and apparently compel to be tributary to the central city. The story of their building would read like a romance, and a simple statement of their organization, management, and business rivals the affairs of an empire. The present development of a belt road round the city, to serve as a track of freight exchange for all the lines, like the transfer grounds between St. Paul and Minneapolis, is found to be an affair of great magnitude, as must needs be to accommodate lines of traffic that represent an investment in stock and bonds of $1,305,000,000.

As it is not my purpose to describe the railway systems of the West, but only to speak of some of the problems involved in them, it will suffice to mention two of the leading corporations. Passing by the great eastern lines, and those like the Illinois Central, and the Chicago, Alton, and St. Louis, and the Atchison, Topeka, and Santa Fé, which are operating mainly to the south and south-west, and the Chicago, Milwaukee, and St. Paul, one of the greatest corporations, with a mileage which had reached 4921, December 1, 1885, and has increased since, we may name the Chicago and North-western, and the Chicago, Burlington, and Quincy. Each of these great systems, which has grown by accretion and extension and consolidations of small roads, operates over four thousand miles of road, leaving out from the North-western’s mileage that of the Omaha system, which it controls. Looked at on the map, each of these systems completely occupies a vast territory, the one mainly to the north of the other, but they interlace to some extent and parallel each other in very important competitions.

The North-western system, which includes, besides the lines that-have its name, the St. Paul, Minneapolis, and Omaha, the Fremont; Elkhorn, and Missouri Valley, and several minor roads, occupies northern Illinois and southern Wisconsin, sends a line along Lake Michigan to Lake Superior, with branches, a line to St. Paul, with branches tapping Lake Superior again at Bayfield and Duluth, sends another trunk line, with branches, into the far fields of Dakota, drops down a tangle of lines through Iowa and into Nebraska, sends another great line through northern Nebraska into Wyoming, with a divergence into the Black Hills, and runs all these feeders into Chicago by another trunk line from Omaha. By the report of 1887 the gross earnings of this system (in round numbers) were over twenty-six millions, expenses over twenty millions, leaving a net income of over six million dollars. In these items the receipts for freight were over nineteen millions, and from passengers less than six millions. Not to enter into confusing details, the magnitude of the system is shown in the general balance-sheet for May, 1887, when the cost of road (4101 miles), the sinking funds, the general assets, and the operating assets foot up $176,048,000. Over 3500 miles of this road are laid with steel rails; the equipment required 735 engines and over 23,000 cars of all sorts. It is worthy of note that a table makes the net earnings of 4000 miles of road, 1887, only a little more than those of 3000 miles of road in 1882—a greater gain evidently to the public than to the railroad.

In speaking of this system territorially, I have included the Chicago, St. Paul, Minneapolis, and Omaha, but not in the above figures. The two systems have the same president, but different general managers and other officials, and the reports are separate. To the over 4000 miles of the other North-western lines, therefore, are to be added the 1360 miles of the Omaha system (report of December, 1886, since considerably increased). The balance-sheet of the Omaha system (December, 1886) shows a cost of over fifty-seven millions. Its total net earnings over operating expenses and taxes were about $2,304,000. It then required an equipment of 194 locomotives and about 6000 cars. These figures are not, of course, given for specific railroad information, but merely to give a general idea of the magnitude of operations. This may be illustrated by another item. During the year for which the above figures have been given the entire North-western system ran on the average 415 passenger and 732 freight trains each day through the year. It may also be an interesting comparison to say that all the railways in Connecticut, including those that run into other States, have 416 locomotives, 668 passenger cars, and 11,502 other cars, and that their total mileage in the State is 1405 miles.