Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-05-21
HOW TO CURE TT

financial affairs can be made. The
great Spectators of the country, the
men who are amassing millions, under
stand these causes and are thereby
enabled TO take advantage OF every
productive industry and reap that
which legitimately belongs to that
class Of capital invested in the mills,
factories, FORCES and farms, besides
robbing the labor necessary to operate
them.
We have before us a late weekly cir
cular OF Henry Clews, the Wall street
banker and financial writer, and it is
avery interesting document. He says:
"Such crises as happened last fall come
but once in ten years, and therefore
set-backs of that character are not TO
be reckoned as among the possibilities
of the next ten years" That confess
sion furnishes the basis for volumes OF
discussion that would prOtitably en-
gage the attention Of all the people Of
all the great governments or the
world. These crises come every
ten years. says Henry Clews, the great
est authority in America on our
Wall street financial system. The
HERALD has repeatedly made this
statement as the corner stone or It's
opposition to the financial system to
which all the great governments CT
the earth are now bound, and which
is the cause Of the fluctuations In
business, prices, labor, the depressions
in agriculture and the financial crashes
that periodically Overtake and ruin
this and every other country, and
here we have it in print from wall
street, which becomes a willing
though unguarded witness to our state
ment. Mr.. Clews is over anxious to
give assurance that the bottom OF
another great crash will not be found
till toward the close Of the
present century, because he wants to
find buyers for the accumulated Wall
street securities as early as possible.
Mr.. Clews evidently expects another
financial crash, as Indicated In the
quotation above, as we approach
the period from 1893 TO 1900, and
how could he make such a fore
cast without knowing the cause
of these depressions? VIII anyone
! dare TO say that a failure OF crops
occurs every ten years sufficient tt
bring these periodical collapses?
: Never. Win anyone deny that these
: depressions occur periodically every
eight or ten years? Then who car
{ dare to deny the cause of these de
pressions being just as has repeated.
been explained by the HERALD.
An impartial investigation will shoy
that when the depressions have bee
at their lowest, Wall street magnate
i have bought up all the bonds, mort
, cages, stocks and other securitie
they could reach, and when busines
> has been at its greatest imitation, an
IL as a consequence, bonds and othe
securities at their highest prices, thes
u Wall street millionaire Speculation
% have universally sold the bulk of the
4" securities. This policy on their pal
proves that they know when an infii
u ton or depression is coming, and Z
ie Henry Clews says, they expect the d.
u pressions to come about every te
y wears. OF course the imitation period
III come about half way between IL
i1 depressions, so that we have abol
~ five years from the bottom Of d
i0 preston to the top Of an imitation ar
about the same time from the top
ie the imitation to the bottom Of depre
- sion.
g In its prime the Hebrew nation a
i0 rived at a condition when usury b
came the curse of the times, and v
:" have certainly come up to the san
al condition. Instead OF the COVER
!" ments managing their financial ma
2" ters in their own interests they ha
becone the tools OF the money powe
% aiding in the robbery Of the peopl
=. No public man dare deny that the d
:" pressions in all kinds of business e
=" able the money power to financial
" wreck roads. manufactures, city al
" national governments, the country
=, western city banks, farmers and
" dividuals, and to buy up the bono
-, stocks and mortgages Of these at rui
:" ~ ously low figures, often at one-four
Vi Of their ordinary values, and by the
. means the moneybags of w
q" street rob not only labor and agricl
- ture, but capital invested in all kin
OF business to the amount or billie
~ Of dollars at every great periodic
=, depression.
The government of the Unit
la' States is responsible for permitti
'' this condition OF things to contin
"e for il can be prevented by placing {
treasury department in the hands