The Caucasian. (Clinton, N.C.) 188?-1913, 1893-07-06

than AFrszf BTs121TA. "a " IT,
sru never sets. whose flag hosfs IN every
s~a and whose si1iTss ride pronaiy 81
,l,eir anchors in every harbor o. 'Ae
world We had IN lsso wealth enough
To- bay ons-saIf the known vrcrld--lsi''as'
bou~eS. kingdoms. scer;crs. eanI'ases
B,rt after We had bought a he'nispaeIe
and paid for Is we would have na"oss
.-,,,,...,, IN carve, n new ration out CT the
ur4evelosssl west
One of the first things that stree 1as
student Of economics and of me Telaai0n
of RELIGION 20 the great social rroulfth
ia ,hs, fact that moncy - the mignsss-s'
mower that moves today ur'n The sur
face of modern civilization We observe
this fact:
r.srgIyerpx NOT THE SATiO.s's CAPITAL
Fi-st-In the power manitesttd III the
making and unmaking Of the history OF
Governments. The center of govern
rneur Of this century is not the poilLlcai /
ca7gif.l. 1t is the commercial. the mon
ev oapit4i. Il we imagine that the cap
i.al Of America is at Washington, We
,,el-., a sad mistake Washington Is a
very beautiful town. 1t is handsomely
laid off. II has some grand houievards.
some lsantlful streets. Ii has acres OF
beautiful homes. 1t is pleasing to the
eve. We have located there some
elegant buildings. We have a very
handsome capitol building. Of which
some very excellent photographs have
been made by various photographers.
It has a handsome dome, with the inquire
of Liberty on its summit. We have some
other exceedingly handsome buildings
that cost millions of dollars We have
an executive mansion in which the presl-
dent of the United States lives. 1t is
commonly supposed that the seat of gov
eminent is at Washington or Whereabouts.
This is a popular superstition. As mat
ter of fact the center of government is
not at Washington. If you wish to find
the centet of government In America,
YOU should walk down Broadway until
YOU reach Trinity church and turn into
a narrow lane to the left. Walk down
this narrow lane, between those noun
famous buildings that rise toward the
sky, and as you walk the length of Wall
street you have traversed the main cor
ridor of this nations capital. Wall street
is the center of the government of Amer
lea. 1t has been so for generation,
and there never was a time that it was
more SO than today.
You may say that we elected Mr..
Cleveland president of the United States
by majority commonly termed a po
litical cyclone. True enough. All that
happened, and Mr.. Cleveland is in the
presidential chair, with his cabinet, and
the government is running along its usu-
al course. That does not alter the stu
alton. If Mr.. Cleveland had dared to
stand up before the world before the
election and say in SO many words that
he was opposed to the money policy of
the governing kings of Wall street, he
would now be practicing law in the
Mills building, in the city of New York,
as private citizen. and the onerous bur
dens Of the executive Office would now
be on other shoulders. No president has
been elected in this nation within gen
Grafton who has not been in perfect &C
cord with the kings of Wall street on the
money question. ANY man who knows
anything about the history of this ma
ton knows enough not to discuss that
proposition.
PANIC IN WALL STREET.
A short time ago there was an APP
proach to a serious panic in Wall street.
Money rose to 1876 per cent You felt it
here. 1t was felt throughout the nation
and felt instartaneously. What was the
| natter There was nothing the matter
with the government at Washington
The secretary Of the treasury was there
The money was all there in the treasury
Nobody had broken open the stronghold
The geld reserve was untouched The
secretary of the treasury came over to
Wall street, spluttered around for few
days like bee in tar bucket and went
back to Washington. The government
| was all right. 1t was running with its
usual regularity. The fact is, it could
not do otherwise. We have all astro-
nomical government. 1t is wound I'D to
run four years. Itcannot stop. It runs
by the moon, and the sun, and the stars.
| When the four seasons have passed, the
four years are complete, there is change
Of administration, not before
Our government was in perfect run
ming order, but the government had
nothing in creation to do with the real
life of the people at that time. Finan.
cial ruin stared the nation in the face,
and for "a hours we held our breath to
know If the crash would come. What
was the trouble2 Simply that firm OF
private bankers in London were about
to fail. 1t was whispered in Wall street
on the day of this panic that Barring
Bros. in London. firm of private
bankers, were about to collapse The
money market at once was in state
OF wild delirium. That night in
the lobby of the Windsor hotel a
group Of excited money brokers
gathered and were discussing the situa-
ton. A man rushed up and had news
direct from London that the failure of
Barring Bros. would be announced next
day. A man leaped from the group. the
perspiration standing in great beads ON
his forehead, his face livid with excite
ment, while he fairly shrieked in reply:
MY Cod, man, it is impossible Barring
Bros. fail? If they fail, the Bank of Eng
land goes down, and the financial world
must collapse" He could not believeit.
1t meant with him life and death. And
get the runnor was confirmed the next
day. How were we saved from fnan-
cial ruin! 1t was announced with the
announcement Of their failure that the
Bank of England-that is, the govern
ment OF Great Rritain-with all its
matohless resources, had come to the
rescue OF Barring Bros. and saved them
from collapse. Thus was the greatest
financial disaster of this century averted
by the interpretation Of all the resources
III the next greatest money empire to
ours in thGworld.
we were threatened with ruin II, our
nnanclai center by whom. by wnats
england was threatened by whorlp A
urn OF private bankers had been specu.
iating in Argentine securities in Sout h
America. The money specrlations Of q