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law was not without some good features, but it came into existence at a most unfortunate time, and the keenness and unscrupulousness of desperate men, taking advantage of its weak points and corruptly violating its salutary provisions, used it to the public injury.

Under this law about 40 banks went into operation, many of them in remote and obscure places, and before the commissioners could perfect their work of reform the crisis came and the catastrophe could not be averted. Failure rapidly succeeded failure, and legitimately chartered banks were drawn into the same vortex with the "wild-cat" institutions. Only seven banks escaped the whirlpool, and the worthless paper afloat represented more than a million dollars. As ex-Gov. Alpheus Felch well says:

"Thus ends the history of that memorable financial epoch. Forty years have passed since these events, and few remain who can remember the excitement and distrust, the fear and despondency, the hopes and disappointments which agitated the community, in those days of inflation and speculation, of bankruptcy and financial distress; and fewer still remain who bore part in the transactions connected with them. We look back upon them to read the lessons which their history teaches. The notion that banks without real capital, or a currency which can never be redeemed, can relieve from debts or insolvency, is tried and exploded. We are led to the true principle, that prosperity, both public and individual, awaits upon industry and economy, judicious enterprise and honest productive labor, free from wild speculation and unprofitable investments, and a wise and prudent use of our abundant resources."

In 1875 there were 77 national banks in this State, doing an annual business of about $26,000,000; 15 State banks, with a business of nearly $4,000,000, and 12 savings banks, with a business of $6,000,000.

GEOLOGY.

The lower peninsula occupies the central part of a great synclinal basin, toward which the strata dip from all directions, and which are bounded on all sides by anticlinal swells and ridges. The limits of this basin exceed those of the peninsula, extending to London, Ont., Madison, Wis., Marquette and Sault Ste. Marie. The whole series of strata may therefore be compared to a nest of dishes, the lower and exterior ones representing the older strata.

The upper peninsula is divided by the Marquette-Wisconsin anticlinal into two geological areas, the eastern belonging to the great basin above alluded to, and the western being lacustrine in its character, and largely covered by Lake Superior. The southern rim of the latter is seen uplifted along Keweenaw Point and the south shore of the lake, and these strata re-appear at Isle Royale.

Between the Michigan and lacustrine basins the metalliferous Marquette-Wisconsin axis interposes a separating belt of about 50

miles.

The paleozoic great system of this State measures about 2,680 feet in thickness, of which the Silurian division is 920 feet, the Devonian 1,040 feet, and the carboniferous 720 feet.

The coal-bearing group occupies the central portion of the peninsula, extending from Jackson to township 20 north, and from range 8 east to 10 west.

Of iron, hematite and magnetite, in immense lenticular masses of unsurpassed purity, abound in the Huronian rocks of the upper peninsula. The former of these, under the action of water, becomes soft, and is called Limonite, and is abundant throughout the State as an earthy ore or ochre, bog ore, shot ore, yellow ochre, etc. Sometimes it is deposited in stalactitic, mammillary, botryoidal and velvety forms of great beauty. Kidney ore abounds in the Huron clays, and “black-band" in the coal measures.

Of copper, native, in the "trap" of Lake Superior, abounds in the form of sheets, strings and masses. Gold, silver and lead are also found in unimportant quantities in the Lake Superior region.

Salt abounds in the Saginaw region, gypsum, or "land plaster in the vicinity of Grand Rapids, building stone throughout the State, manganese in many places, and many other valuable earths, ores and varieties of stone in many places.

NEWSPAPERS.

There are about 275 newspapers and periodical publications in Michigan, of all classes. Of these 224 are published weekly, 17 daily and weekly, two daily, seven semi-weekly, one tri-weekly, four semi-monthly, 19 monthly, one quarterly, and one yearly; 112 are Republican, 46 Democratic, 73 independent and neutral, 14 religious, and 15 miscellaneous. Among the latter are two Methodist, seven Adventist (two Dutch or Hollandisch), one Episcopal, one Catholic and one Baptist; four mining, five educational, one Masonic, one Odd-Fellow, one Grange, three medical and one agricultural. Five are printed in the German language, six in the Dutch, one in the Swedish and one in the Danish.

The present population of Michigan, according to the census of 1880, is as follows: Male, 862,278; females, 774,057; native born, 1,247,989; foreign, 388,346; white, 1,614,087; colored, 22,248; total, 1,636,335.

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The State printing is done by contract, the contractors for the last 13 years being W. S. George & Co. (Geo. Jerome), the former the active partner, who also publishes and edits the Lansing Republican, a paper noted for originality, condensation and careful "make-up."

TOPOGRAPHY.

Michigan is a little southeast of the center of the continent of North America, and with reference to all the resources of wealth and civilization is most favorably situated. It is embraced between the parallels of 41°.692 and 47°.478 north latitude, and the meridians of 82°.407 and 90°.536 west of Greenwich. The upper peninsula has its greatest extent east and west, and the lower, north and south. The extreme length of the upper peninsula is 318 miles, and its extreme breadth, 1641 miles; its area, 22,580 square miles. The length of the lower peninsula is 277 miles, its width, 259 miles, and its area, 33,871 square miles. The upper peninsula is rugged and rocky, affording scarcely anything but minerals as a source of wealth; the lower is level, covered with forests of valuable timber, and is excellent for all the products of Northern States.

The total length of the lake shore is 1,620 miles, and there are over 5,000 smaller lakes in the States, having a total area of 1,114 square miles.

A RETROSPECT.

And now, how natural to turn our eyes and thoughts back to the log-cabin days of less than 50 years ago, and contrast it with the elegant mansion of modern times. Before us stands the old log cabin. Let us enter. Instinctively the head is uncovered in token of reverence to this relic of ancestral beginnings and early struggles. To the left is the deep, wide fire-place, in whose commodious space a group of children may sit by the fire and up through the chimney may count the stars, while ghostly stories of witches and giants, and still more thrilling stories of Indians and wild beasts, are whisperingly told and shudderingly heard. On the great crane hang the old tea-kettle and the great iron pot. The huge shovel and tongs stand sentinel in either corner, while the great andirons

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