The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-06-19

them Uomo0, ana 1t0m1ue4 O0oeoor0e
and BIenheim admfnistered - much to
the purse Of the Hebcsw e 8 Cd 70
the glory Of England The WoruR and
most dangerous feature Of . permanent
national debt , that during the earlier
stageS Of its existence IN appearance Of
fictitious prosperity b generated. n
the nation consequently blinded to its
results. 1t has been estimated upon
good authority thst from Is to - per
cent. OF every loan raised In England
has directly or indirectly found its way
into those uncomDctouable 8hylocta. %
that II II small wonder II we hear OF
colossal fortunes coexisting with ex-
treme national depreciation and distress. |
DR.. Charles Davenant. In his essay on
The Balance Of Trade written In h
earlier part Of the last century. re-
marked: While these immense debts re-
main the necessities Of the government
large premiums win be given. and what
encouragement 10 there for men to think
Of foreign trafnc (whose returns Tor
those commodities that enrich England
must bring no great pront 10 the pri-
vate adventurer) when they can sit at
home and without any care or hazard
get from the state b ~ dealing with rhe
exchequer, Is, and sometimes 20. 80. 40
and SO per cent? II there any COM
merce abroad 30 constantly advantage
GUST We apprehend not. Capital Is
defined by the economists as h accu-
mutation OF the savings of industry.
Such men as Rothschild have no doubt
been Industrious. but not according to
the ordinary acceptation OF the term.
Their industry - of . Wholesale kind. II
Il confined to a resolute n systematic
endeavor to avail themselves OF the saw
ings OF others and we need hardly state
thai In this pursuit they have shown
themselves most eminently successful
The remarkable change which o
place in the monetary system Of Eng
land under the auspices of William
could not, of course. have been effected
without the concurrence Of parliament.
That body had certainly no reason to
charge him with neglect of their inter-
SITS. The representatives of the people
l1r the first TIME began to understand
that there might be certain perQuisites
arising fppm their situation as men OF
trust, which could be mad available to
them. provided they were not too scrup-
ulous as to the requirements of the
crown, and for the first time the ECU
larity Of bribing parliaments was in
troduced by William of Orange. / quote
the following summary from the His
tory Of the Stock Exchange by John
Francis: The parliamentary records of
Williams reign are curious. The de-
mands which he made for money. the
hatred of France which he encouraged.
and the frequent supplies he received
are remarkable features in her history.
Every art was employed. at one time a
mild remonstrance. at another q
naughty menace, at a third he had ven
tured his life for the benefit Of the
country. The bribery during his reign
was the commencement OF a system
which has been very injurious to the
credit and character Of England. The
support Of the members was purchased
with places. with contracts. with titles,
with promises. with portions Of the loans
and with tickets in the lottery. The ia
nous axiom with Sir Robert Walpole
('Every man has his price") was a prac-
tice M q principle with William; he
found that custom could not stale the
infinite variety of its effect, and that
30 long as brides continued, SO long
would supplies be free. Exorbitant pre-
miums were given for money. and SO
low was public credit, that of five mill
o n granted to carry on the war only
two n a half millions reached the ex-
chequer. Long ~annuities and short an
nuities, lottery tickets and i~rredeemable
debts made their frequent appearance,
and the Duties which principally date
from this period were most pernicious.'
This is a most scathing ~arraignment.
Mr.. Francis. though an apologist for
King William, who. Us he thinks, was
compelled to act thus from imperious
necessity. Is not blind to. this stigma on
his memory. He also believes that the
settled animosity between England and
France, which has caused so many
wars n led to such ~extravagant ex-
penditure of blood and treasure, is
mainly to be attributed to the perse-
vering efforts of William of Orange.
With the national debt of England grew
a plutocracy known as the moneyed In
terest; with the moneyed interest grew
the m~onopolist; with the monopolist
grew the manipulation of parliamentary
votes. Great corporations grew and fat
tened. Corruption was everywhere
rampant, and with the multiplicity Of
taxes to support immense armies both
In England. and Ireland, n for the pay
ment Of foreign armed hireiings in other
lands, the national e left as q. leg
acy by William was e16, 900, 900 in round
numbers. In 17sS. just 100 years after
the Introduction OF the funding system
in Berlin, II amounted to G262, 600, 900,
with an Interest approaching to e1o.-
600, 900. When Nathan Rothschild began
operations, and through Ricardo and Sir
Robert Peel, demonetized silver, In 1913,
the national debt of England appreciat-
a ITO nearly $500. 600, 900. To-day, ac-
cording to the World Almanac. my
handfest authority, II amounts to three
billions and nearly three hundred and
fifty-one million dollars.
"Thi England, this greatest nation
on earth; great in what? She has no
longer the Independent yeomen Of two
centuries ago-instead she Is one i'm
mense workshop, her factories blazing
day and night, worked by q poverty
crushed people for . poverty grasping
pittancs. The sound Of the loom and
~ ~-> --Su-l. H. 49,
tinuous wall, taxes, taxes and poor
rates! Poor rates, poor rates and
taxes! A few years ago I met in Chi
cago an old travelling theatrical man.
ager. 1t was midsummer. I was In
formed his company was still on the
road playing, and to losing business. ]
asked him why. during the heated term,
he did not close his season.
"'Close.' said he. MY God, I dare
mot close. I've got to keen going some