The Progress., 1893-09-23

From n Man of Strong Convictions.
NEW YORK, Sept. 17.-The discussion
of "The Panic-Its Causes and Cure
was continued 10y the Rev. Thomas
Dixon, Jr., in his sermon in Association
hall this morning. The specific subject
of today's discourse was "The Cure OF
Panics" He denounced most vigorously
the demonetization of half the money of
the world and gave as remedies and
cures for financial panics the increase of
the currency, the radical reform of our
banking system, more Christianity in
business, less faith in the great capital
istic newspaper scares, the establish
ment of postal savings banks and the
cessation of special class legislation.
The texts were from the eighteenth
chapter of jeremiah and the twelfth and
seventh Of Ezekiel;
Thou hast taken usury and increase. and
thou hast greedily gained Of thy nelghbors by
extortion and hast forgotten me. saith the
Lord God.
As the partridge sitteth on eggs and hatch
eth them not, so he that getteth riches and not
by right shall leave them In the midst OF his
days and at his end shall be n fool.
They shall cast their silver into the streets
and their gold shall he removed: their silver
and their gold shall not be able to deliver them
In the day Of the wrath OF the Lord
CONSPIRACY AGAINST THE MASSES.
We have seen in our present study of
the financial panic that the immediate
cause was an insane popular fear-in
short, stampede of selfishness. But we
saw upon further study that the primal
cause of the panic was to be found be-
yond the dust and confusion Of the STAN
pede; we found the evidences unmstak-
able that it was produced by concerted
movement on the part of the great
money hucksters of the world; in fact,
that it was in reality conspiracy
against the masses of the people by the
great plutocrats of our age. Some of
the noblest men of our time have been
men of great wealth-all honor to their
names. They have administered their
fortunes as q sacred trust from God for
the benefit of their fellow men. While
this is true, it has not been the rule-it
has rather been the exception. The
money power has grown until few
men possess two-thirds the wealth of
the nation.
When few men practically possess
the whole commonwealth. there ceases
to be commonwealth, and society is
again simply divided into two classes
masters and slaves.
I Have we today democracy?
. Is it not in fact plutocracy?
/ In form we have government by the
people.
But as a matter Of fact have not our
representatives for the last generation
simply carried out the edicts and the
policies of our money kings?
1t is serious question, and the Amer
ican people are brought rudely face to
face with it today.
If this panic is to be cured and its re-
currence prevented, the power of the plu- .
tocracy must be in some way limited.
Bishop Potter of New York, at the re-
cent centennial celebration of the first
inauguration of George Washington, de-
,clared that in view of the increasing
power of the plutocrat it was doubtful
whether the republic would ever cele-
brate another centennial. In explaining
his remarks he afterward said:
When speak of this as the era of the pluto
Gratis. nobody can misunderstood me. Every
body has recognized the rise of the money
power. Its growth not merely stiles the inde-
pendence Of the people, but the blind believers
In this omnipotent power of money assert that
its liberal use condones every offense. The
pulpit does not speak out as it should. These
plutocrats are the enemies of religion, as they
are OF the state.
Just before the bishops address Gen.
eral l.. S. Bryce, in The North Ameri-
can Review, said
We are living in the shadow of an unbr-
died plutocracy, caused, created and cementcd
in no slight degree by legislative, aldermanic
and congressional action; plutocracy that is
far more wealthy than any sristocracy that
has ever crossed the horizon of the worlds
history and one that has been produced In a
shorter consecutive period; the names Of whose
members are emblazoned not on the pages of
their nations glory, but of its peculations; who
represent no struggle for their countrys libcr-
ties. but for its boodle no contests for Magma
Charta, but railroad charters, and whose oc-
topus grip is extending over every branch Of
industry; a plutocracy which controls the price
that sweetens our cup, the price of the oil that
lights us on our way, the price of the very cof-
fins In which we are finally buried.
This is fervid rhetoric, but it has more
truth than poetry in it.
NATIONAL BANKS DENOUNCED.
Periodical seasons Of general foreclo-
sure, bankruptcy and ruin are inevitable
in such a condition of society.
Who shall deliver us from the body of
this death?
How shall we lift the shadow of panic
from our fair nation?
There are some things the dark back
ground of the present distress brings out
with startling distinctness:
First-We must have less bank and
more nation.
Our national banks have been sup
posed TO be institutions of a national
character. It was supposed that they
existed for the benefit of the community
at large. Ii was also supposed that as