The Emmett index. [volume] (Emmett, Idaho) 1893-1925, 1897-02-20
"And what does thirty billions of

dollars meanV he asked and then paus-
ed a moment and leaned on the desk.
You will understand me better" he
continued. when | tell you that by
the census of 1890 the total assessed
value OF all the personal and real prop
erty in the United States is only few
dollars over twenty-four billion. We
are In debt. as a people. about six bill
lion more than the total assessed value
OF all the personal and real property
In the United States. and one-half as
much as the estimated fair cash value
OF that property.
How are these debts going TO be
paidf' he now asked. and continued,
Il am dealing in facts-cold facts.
am doing as any successful business
man should dol am taking stock. II
l were examining a business | would
want to know what its debts were
and what its assets were. | would
want TO know how the debts were to be
paid. and II found that 1t would re-
quire all OF the profits of the business to
pay interest on the debts. with prices
falling. making the firm less able, year
by year, to buy the dollars with which
to pay the debt. | would say the bust
ness was prospectively insolvent. |
would say that the money lender would
soon own the property. And l now
say that the money lenders will soon
own this country What ! mean to say,
Henry is this" land he addressed his
partner direct: The country Is in
solvent; the people are honey-combed
with debt; taxation with most OF them
has become burden; a dollar increas-
ing in purchasing power has done 1t.
If we push our business among the peo-
pie we are going to lose enough debts
TO wipe out more than all our profits.
We will work for nothing and lose
heavily. The country is insolvent, and
the money lenders virtually own it.
They have done it by a trick-an i'm
moral trick They have leeched the
blood of civilization. Prompted by self
ishness. they have tempered with the
organic fluid of society"
John, | cannot answer you" said
Henry. in a thoughtful mood, prelim-
mary to asking question, when John
interrupted him. AS the latter spoke
he was walking TO and fro In front Of
them, looking down as he walked:
NO; no one can answer me except
by a sneer or by ridicule. And if such
an answer came 1t would come from
a money dealer, or would have been in
spired by him. Their usual and most
polished answer is, Anarchist Listen
TO these daily papers," he continued,
pacing the floor, with his hands behind
him, the agents of selfish wealth. in
their daily grist OF editoria ls-no rea-
CONFERENCE.-The crack of the slave driv-
ers' whip-that is all there is In their
insane mutterings And" he stopped,
and with right hand and forefnger
added emphasis to what he said, here
are the Stones, the Lawsons, the Me-
dills, the Palmers. and others, all APP
ing these money changers, because they
think 1t is the thing to do as they do,
and think they think"
"John," said Henry, here is what
was running through my mind. First,
suppose your figures as to the debts
are correct"
YES" said John. but too low; forty
billions is nearer the facts"
"And then here is what | was think
ing, John" said Henry. Suppose your
talk. seemingly unanswerable to me.
to reach the whole country. all the
people were to hear 1t. would 1T or not
injure businessf Isn't the patient in q
kind of nervous state where To know
the truth would alarm him?"
NO" said John, neither from n
moral nor a practical view of It," John
was now standing erect, facing them.
He continued:
First, morally: Here are a lot of
thieves who are robbing the people;
coniscating the property of the people
Ivy an ever enhancing dollar, and cry
ing honor sound money and ali
kinds of stop thief cries, with all the
pot house politician. and deceived we'll
TODD people in their wake. driving the
honest. toiling business men, farmers
and others into bankruptcy, tenaDtiy
aud distress.
And from practical view of f." be
continued, 81 say No. Suppose | an
a wholesale merchant, with account;
due me all over the country. and the
proposition was to send in printed forl'
what am saying here to them. Would
it hurt me? Would it cause me to LOST
any OF my debts that would not other
wise lose? No. The law gives me thu
right to Judgment and execution AND
my customers know that. To know
these facts am narrating woull maxi
them the more cautious in the conduc
of their business. They would buy les
and oftener-buying in smaller quaint
ties at a time-and the fact thar the.
understood the general situation nigh
save them from insolvency. KNOWING
these facts. would rather have thel
for a line OF customers, than 10 hav
them ignorant of the facts. woul'
not do so big business. but l woul
do a more profitable business. Thos
who do not understand the situatio
are the ones that will break first.
John" said Henry. rising from hi
chair and thrusting both his hands IL
TO his pants pockets. you have in
pressed me: impressed me only rs re;
son. pure and simple. can impress one
And with this he walked away sever.
feet and then returned. Continuing.
said: If you are right. and | see no e
cane from it. what will he the end
Where is it all going to endF We mu'
not only be cautious in business. but
seems to me something worse Is con
ing. The money lenders will enfor'
the obligations they hold; laws exist
give them judgments and execution
and they are intrenched in power Il
payment OF interest alone on the
| -. ,,.;tt ,v;xa tban, control of all II