The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1891-10-20
HOW INTELLIGENT FINANCIERS
SEE 1T.

A gentleman connected with one of
the important financial institutions of
Boston writes The NeIU Nation as fol-
lows:
The foreign financial situation ap
pears to emphasize to a great degree
the demand for a change in economic
conditions. Civilized nations are now
sc closely linked together that a touch
of financial grippe in one is felt TO a
large extent by all, and while in
own country we are apt to be influenced
by Our much-vaunted glorious posi-
bilities and allow the national cOnceit
of spread eagleiSm to paint a rosy pic
ture of Jul present and our future, the
careful thinker can hardly be blind to
the general rOttennesS of the system
under which the mercantile affairs of
the world are carried on.
We are endeavOring to do an increas-
ing business on a decreasing metal, and
whether the demonstration of silver
would smooth out the problem or add
to its cOmpleXity, it would be but a
patch on a decaying fabric and would
not eradicate the main evil-the sys
tenn itself. France may be cited as a
case in proof, for, with the double
standard, the condition of her people,
either from a financial or social point
of view, can scarcely be held up as a
model for the world. The real trouble
lies in the system which permits the
accumulation of vast amounts of CAPT
tai in the hands of a few, to the abSO-
lutte slavery of the many. 1t has been
claimed that this country is owned and
practically ruled by few milliOnaires.
Granted; but is not the situation of
Europe strikingly similar? NOminally,
kings, queens and emperOrS WELD their
SCeptreS over the countries of the old
world, but really they are but puppets
in the hands of the money changers,
the great bankers. Within afOrtnight
that absolute monarch, the Gar of all
the Russias, was told by the Roths-
childS to sit down and behave himself
and he Obeyed.
Nations n but aggregatiOns Of midi
viduals, and the same causes which
operate, commercially speaking, to
destroy the n are equally effective
with the other. In the last decade,
the debt of foreign nations have in
creased 81, 200, 00O, 900. Armies, navies.
ROYALTY and the bankers have absorbed
it, resulting in widespread and grow
ing discomfort among the masses, and
q general loss of confidence in govern
mentand Individual credits, and sooner
or later will end in a collapse compared
with which the Barring incident was
like a pop gun to a oar Of thunder.
In America, the speculative machin-
cry of Wall street is responsible for a
large share of the burdens borne by
the people. 1t has been said that one
class of spectators get their gains from
another set, and hat no II loses eX-
cept those who deal there; but if one
will take the pains to follow to their
logical and actual conclusions the
operations Of the great men of the
street, they will find that every man.
woman and child in the country pays
an indirect tax in one form or another
that a few men may virtually gObble
up the earth. The real rulers of Wall
street may almost be counted on the
fingers Of the hand. These men are in
daily and nightly conference as to the
moves to be made on the speculative
chess board. They are assisted by
eminent financial counsel, a man who
is at the head Of one of the laI gest
banks in New York, and who is so
thoroughly posted in all the details Of
finance that the situation is mapped
out with the nicely of an architects
drawings. Plans are laid accordingly,
prices follow the course indicated for
them, and the outcome is constant ad-
ditions to colossal fortunes and a power
and means to continue the operations
which many other men, equally gifted
in brain force, are debarred from.
The disease, however, is working out
its own cure to a certain extent, for the
consultations of raiIr ads and the in
corporation of the various mercantile
interests are steps in a direct line to
wards the goal of a full and a complete
naturalization Of all the industries of
the country and government ownership
of all property.