Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-08-05

WRITES xITH GREAT FORCE
We Are Lisiax n<soad Our Means and
Hast Observation-Disclosures LAnd
ysiaes and Muiioazlrcs-


finance. tie has carefully observed tho
eoarss q events In the financial world.
and r. therefore. thoroughly competsEt
o write snteftziningly on the situation.
and D. Suggest rsalsdy. all - which be
furnishes the New York Wofld. part of
which u a. folloss:
NxwPoRT. K l.. Aug LIN ny hum.
be opinloa the financial distress and
trouble cosering this shole country lie
IA the fact that a. a nation and a. indl-
viduais Ne have been spending too much
money. We have been oyerestimating
the salne u everything we have. We
are . young country. have vast re-
sources, q b0undiess territory. bat IA
oae sense. are land poor. For We are
nj rich Ia money. We are always Dor
rc0ers-a nation u borrowers aud. be
ing borro~ers. should certainly do
eseFything 10 Our power 10 sustain our
national and individual crcdlt
Who buys up our United States
bondss Not our farmers nor our south
srn AID western brethren. bnt kurop-
ears and other conservative eastern eie-
ments They lead 10 The government
III faruer walls 10 borrow money he
gets lt ifom oae q his ueighbors who he
y 1-4-4 80
nortgsging his farm. The wealthy
faEn leader knows where bis money has
gone and feels Il Is secure.
Reasons for Distru-t.
No western or southern man IL con
teat % lsnd his money for or per
ccot While the European IL only too
glad g. secure this interest. provided he
Irels biz principal Is safe and he gets bis
money hack IN gold. When he hears
thar our dollar u 10 be worth but to
cents. and that he IL 10 lose 81 cents on
every dollar u his principal. he at once
sends heck our securities. insisting upon
their being converted into gold. even at
los. tie becomes afraid ~ and will
not leave his money with u.
Eogland and France always have
surplus Il money 10 invest Their
wealth il evidenced by how easily the
former country sustained its enormous
losses IN the Argentine Republic invest
meats and bow France stood the shock
Il hrr loss ~ ths Panama canal Eng
land has Just placed 81 per cent loan
az q
our railroad stocks 80 down, down.
Ne expect Europeans 10 step in and
boy them; but Europeans do not touch
them. FOR England has her hands full in
IA king care Of Australia. Australia has
been tor . score 0f years living on Eng
g1ish credit. constant borrower. She
- like a famous artist no has for years
painted pictures Every year ia settle
u,ent ~ his account he has given a pic
ture. Finally one IL surfeited with his
pictures and wishes no more Of them.
but demands 90 he paid in hard cash
This u an article one sinds he does not
pos<ess-
England demands money in return for
money lent. and this il not forthcoming;
crash 20 the banks and universal failure
sets IN. Australia must be pulled
through her financial difficulties by
England and again set on her legs be
fore our English brethren can turn their
attention 10 Us and be tempted % buy
our stocks IN the event OF the repeal Of
the Sherman silver Law. From whom.
then. il relief to Gomez
Di-coantine the Future
All cur miliionaircs are loaded with
stocks al nauxeam. They seem going
down. down. until their fortunes. rated
az s230t0ooO or s50W0OO0. shrink 90
sl5Wooc0 and si0oO0Oo l know q
one man who had an estimated fortune
q tL50ooOo. IL he could today realize
from s20no0t0 20 slOo0Oo0 he would in
deed be fortunate.
Much % our trouble lies in our always
discounilng the future. RI piece OF
property - worth today sloo.O0O. we ex-
pect IN a few years IL sill double or
trctIe. and az once estimate ourselves at
this ratio.
Look az this little seaside village. Ten
ysass agp. before these fifty ADD hun
dred millionaire people came into exist.
snss. there vas not place here that
WOULD have brought over si5o.0c0 Now
$4,000 an acre - asked for lots on the
ocean. aud obtained Wherein lies the
intrinsic value - such lotss
Again. book at the price 70 lots in
Fifth avenue Prem East fifty seventh
street g. East Seventy fifth street sl25.
90 - aske,i and readily obtained. max
ing q impossible Tor snyisffy bat a mil.
hsnalrs 81 huy aud build in that local.
~ call tbs an exacgeration q values.
What better ar does q nan get who
bves 81 >eNpovts ellie AID pays ssjo(0C
a. srre for and than a man Whn lives a
tbck "a and from his upper story sin.
ao~s has the same (rean view and pays
bsf elocto an acre FOR a similar lot
Unfortunately. With az people estimate
things Ia this coauiry TO much by what
they pas for them.
fcoking for ltem~fy.
when there - disease the frsf thing
ons d0es i g. LOOK for remedy VIII
iam a.. Whitney feels that " hes in r..
rnsinz he annual tar ~ SaotOofo or
ttaHa0o0 laid upon the Industries Il
t1r ruuntry I agree with this sstufe
ptlifician that our first step - - de
81 aer BE- fost "a iiviag There - NJ
eoanirt 10 the world in which The cost
e ar'nE il - great - IN ours OpE
faiis sspenfhirre inr simpie necessities
- ao<eriiv exs-neagant since The
raa'rnaife era tn cost g llvicE wIth ue
hes ieta aaa irurlet The maIio8aire-
fe freeeusIti - great extent for thu
tufif1 sd rl.n people ipoeeessins
nee efeta ifernoee They haze infatuated
sfrsftFe1f eVrertifnrs 81 everything
- - tas.r rretfF Gsssree "a town aba
tuHntF1 1ishie~ nat must sessfs bold
ffftif sfr 81 feirfg harer=. rptinoe ~
eeffan.- reqaifes - a sinR . head cook
ee@ -siafT r equivalents ~ the salary
- The Ervernor - one 4 ossr states t1e
uia.afFnaore - a gs<ht for six mor ths
ai az etrebse fDnf ueuid have rad
,fsfersl Na-s'axian's salary a. presi
fIenf e - ta,sea stats
AZ tsse Nss inerea@irr 5sf BY 5av
ort. - az tgrsRtt s. : sfaas}~fin ~
fte 1aif ee~fs 81 trash sftex ~rash II
tle falifnE I1Ffu1es q aar esuntrss,sn.
~ - fheo 'rnt - esneb stoeptsss ne
eexff - ea- great reiiti-ian s,.rap@ts
- tllfiI 4 n fnrs1fffs srs4 s.,s.,e.a, -. ].