THE CALEDONIAN Illustrated Monthly Family Magazine A Standard Family Magazine of history, literature, religion, travel, fiction and current events (American, British and Canadian). The household publication of the people of Scottish, British and Canadian descent in America. Kept and cherished for matter not found in other periodicals. AN IMPORTANT NEW FEATURE The History of the Scottish Clans. THE CALEDONIAN, in November, 1915, began the publication of the HISTORY OF THE SCOTTISH CLANS, and each succeeding number for this year will contain the complete history of one of the Clans, with illustrations and portrait of its present Chief. Each issue is alone worth a yearly subscription. A rare opportunity to secure a complete and authentic history of the Scottish Clans, by an expert. Clans Macdougall, Scott, Murray, Fraser, Macdonald, MacLeod, Campbell, Graham and Grant have appeared; July-August, Clan Buchanan and MacMaster; September, Clan Kennedy. THE CALEDONIAN is a magazine, a review and a newspaper combined. It reports the doings of Scottish and other British people throughout the world. ARE YOU A SUBSCRIBER? If not, send in your name and $1.00 now, and receive THE CALEDONIAN for a year. HAVE YOU A FRIEND? Get him to subscribe, or make him a present of a year's subscription. Send us names of Scottish people in your vicinity who would be likely to subscribe. Fill in blank below and Write Us To-day. Subscription Blank The Caledonian, Bible House, New York City. Please send The Caledonian to the address below for one year, for which I send $1.00: Name Address. Date. "It bristles with interesting and meaty articles on topics of present day occurrences, historical incidents, reports of Scottish Societies, and personal references to worthy and notable Scots at home and abroad. Every page is a veritable storehouse of choice and interesting reading matter, and every Scot is the loser who does not avail himself of the opportunity to cull the literary treasures so offered them."-Western Scot. "Scots & Scots' Descendants In America" PATRIOTIC book of about 400 pages, elegantly bound in half-leather, gold stamp, containing biographies, with portraits, of representative living Scots, and historical introduction, showing the part taken by Scots in building up America. In order that we may know the approximate number of copies to bind for the first edition of "LIVING SCOTS AND SCOTS' DESCENDANTS IN AMERICA," will you kindly fill in one of the following and return it to us at your earliest convenience? This does not commit you to purchase the book if not approved. NO. 1-Cash Payment (Date). CALEDONIAN PUBLISHING COMPANY, Bible House, 4th Ave. & 8th St., New York. copy copies. Please send of "Living Scots and Scots' Descendants in America," Subscribers' Edition (half morocco, gilt top, price $10.00 net per copy), to be delivered to me on approval when the book is ready. I will remit payment in 10 days or return book within 2 days, at your expense. Name Address NO. II-Installment Plan (Date). CALEDONIAN PUBLISHING COMPANY, copy copies Please send of "Living Scots and Scots' Descendants in America," Subscribers' Edition (half morocco, gilt top, price $10.50 net per copy), to be delivered to me on approval, when the book is ready. I will remit payment of $2.50 in 10 days (the balance $1.00 monthly till book is paid for), or return book within two days at your expense. Name Address $250,000,000 United Kingdom of Great Britain & Ireland TWO-YEAR 5 PER CENT. SECURED LOAN GOLD NOTES DIRECT OBLIGATIONS OF THE GOVERNMENT Dated September 1, 1916 Due September 1, 1918 Interest payable March 1 and September 1 Principal and interest payable in United States gold coin, at the office of J. P. Morgan & Co., without deduction for any British taxes, present or future Coupon Notes of $1,000, $5,000 and $10,000 Redeemable at the option of the Government, in whole or in part, on thirty (30) days' notice, as follows: At 101 and accrued interest on any date prior to September 1, 1917. At 100% and accrued interest on September 1, 1917, and on any date thereafter prior to maturity. To be secured by pledge with The Farmers' Loan & Trust Company, of New York City, under a pledge agreement executed by the Government, of securities approved by J. P. Morgan & Co., of an aggregate value of at least $300,000,000, calculated on the basis of prevailing market prices, sterling securities being valued in dollars at the prevailing rate of exchange, viz.: Stocks, bonds and/ or other securities of corporations organized in the United States Bonds and/or other obligations of the Government of the Dominion of Canada, either as maker or guarantor, and stocks, bonds and / or other securities of the Canadian Pacific Railway Company.... Bonds and/or other obligations of the several following Governments, either as maker or guarantor, viz.: of Argentina, Chile, Norway, Sweden, Denmark, Switzerland and / or Holland... Value $100,000,000 100,000,000 100,000,000 Pending the arrival and deposit of securities as above, the Government is to deposit temporarily with the Trust Company at the time of issue of the notes, either approved New York Stock Exchange collateral of aggregate value equal to that of the then undelivered securities and / or cash equal to five-sixths of such value. All such temporary collateral is to be exchanged from time to time in the same relative proportions upon the deposit of the above mentioned securities. If the pledged securities depreciate in value because of change in market price or in rate of exchange, the Government is to deposit additional securities with the Trust Company, to the end that the aggregate value of the pledged securities shall equal at least 120% of the principal amount of the notes at the time unpaid and not secured by deposited cash. (Continued on page 195) (Continued from page 194) The Government is to reserve the right from time to time to sell for cash any of the pledged securities, in which event the proceeds of sale are to be received by the Trust Company and applied to the retirement of notes by purchase, if obtainable at prices not exceeding the then redemption price, and otherwise by redemption by lot at the redemption price. The Government is to reserve the right also to make substitutions of securities, but such substitutions are not to vary the relative amounts in value of the aboveindicated three several groups of securities at the time held by the Trust Company. Valuations of securities are to be approved by J. P. Morgan & Co. This offering is made subject to verification of the list of collateral, and to the approval of the necessary details by Counsel. WE OFFER THE ABOVE NOTES FOR SUBSCRIPTION AT 99 AND INTEREST, YIELDING SLIGHTLY OVER 51⁄2 PER CENT. Subscription books will be opened at the office of J. P. Morgan & Co., at 10 o'clock A. M., August 23, 1916, and will be closed at 10 o'clock A. M., August 28, 1916, or earlier, in their discretion THE RIGHT IS RESERVED TO REJECT ANY AND ALL APPLICATIONS, AND ALSO, IN ANY EVENT, TO AWARD A SMALLER AMOUNT AMOUNTS DUE ON ALLOTMENTS WILL BE PAYABLE AT THE OFFICE OF Temporary certificates will be delivered pending the engraving of the definitive notes. 196 THE CALEDONIAN AN ILLUSTRATED FAMILY MAGAZINE FOUNDED 1901. OBJECT.---To Disseminate the Truth, Raise the Literary Standard in the Home, and Inspire "Young America" with True Scottish Patriotism. PUBLISHED BY THE CALEDONIAN PUBLISHING COMPANY Published Monthly (except July). Editorial Office: 85 Bible House, 4th Avenue and 9th Street, New York Editor, DONALD MACDOUGALL, B. D. D. MacDongall, Pres. and Treas., 85 Bible House, N. Y. City. Thos. J. Blain. Sec., Port Chester, N. Y. VOL XVI. SEPTEMBER 1916 NO. V NOTICE Cash THE SUBSCRIPTION PRICE OF THE CALEDONIAN MAGAZINE IS ONE DOLLAR a year, with postage prepaid to all points in American territory; Canada, 12 cents. For all other counNo other receipt sent except tries in the Postal Union, add twenty-five cents for postage. Single copies, 10 cents; by mail, twelve cents. Receipt of subscription is indicated on the wrapper. by request. REMITTANCES should be sent by draft on New York Express Order, or Money Order. should be sent in Registered Letter. (Checks not payable at New York Banks require ten cents exchange.) Sold by Newsdealers in United States and Canada. In accordance with the wishes of our patrons, the paper is discontinued only upon the writArrearages must be settled in full at same time. ten request of the subscriber. Entered as second class matter at the Post Office at New York. CONTRIBUTORS, EDITORS AND CORRESPONDENTS FOR 1916 WALTER SCOTT, Vice-President Butler Bros., New York, Tanist and Past Royal JAMES KENNEDY, Editor, Author, Poet; D. G. C. SINCLAIR, Supt. Metropolitan Life Caledonian Hospital, New York. REV. DAVID G. WYLIE, D. D., LL. D., New JAMES MCCREDIE, St. Andrew's Society, THOMAS J. BLAIN, Editor and Publisher, W. C. MCINTOSH, Secretary Caledonian Philadelphia. REV. ANDREW BURROWS, D. D., Bermuda ALEXA MACAULAY, Chester, S. C. REV. PETER ROBERTSON, D. D., Chaplain JAMES J. BRYDEN, Secretary North Brit- REV. JAMES G. PATTERSON, D. D., New ROBERT E. MAY, Boston, Mass. WILLIAM LAURIE HILL, Author and Pub- MRS. W. E. THAYER, Sumter, S. C. tary International Scots' Home Rule JOHN WILSON, Hon. Sec'y. Scot, Nat'l. Song HON. R. ERSKINE, Editor THE SCOTTISH ALEXANDER RUSSELL, Poet, Musician "The Story of Glencoe and Other Poems" By George Taylor Beautifully got up with MacDonald Tartan Cover PRICE $1.00 Caledonian Publishing Co. 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