The herald., 1898-12-19
MONDAY, DECEMBER 10, 1S9S.

Just when most people getting ready for holiday enjoy
wall is heard that should excite sympathy 1t comes
from the bankers and fnanciers, who rep
THAT DELUGE resent the great aggregatons of wealth in
OF MONEY the United States. A phenomenal gut
of money is reported. We are told that,
"whle the statement may sarte the general public it
fact that for nearly months money has been the cheap
thing in America sartle, indeed! 1t will be strange
if the general public does take the woods frenzy
of fright.
Specifically stated that the bond markets
lutey bare of fst-class ecu If they in the
don of good many cupboards Everything worth buying
in the bond market has been geey picked up hee
diminution in the funds seeking placement 1t that
the has heard of this cash deuge America and being
little short OF holiday funds he is said TO be negotiating for
American oan The not particularly afeconate
TOWARD the United States during the late unpeaannes with
Span but for the sake of reducing the alarming plethora
money shall be glad to accommodate his august majesty
with hundred million
But that will be only momentary relief, because con the
first of the year, corporations will distribute about Sl00O0O
900 in interest and dividends That will offset the relief hoped
for in loan to the Our nanciers struggling
fully however, and agents skirmishng in Europe
told with offers to buy the American stocks and bonds
which held abroad There hope that this means
coupled with the powerful aid of The shoveng
out money the immediate danger of getting in head
will be averted.
We observe that the general public aforesaid gives
dence of worry this distressing plight of the fnancer
and their clients The who wants to borrow little money
into the Office of moneynder without risk being
quilted in gold con There three per of
est for him. If he is favored with Accommodation he
may think he is fortunate to get at ten per cent mort
gage supplemented by casiron note in which he pledges
everything except his hope of heaven.
II is true that the channels of finance gorged with
money and the indications point to increased plethora Why?
Because the accuuatons of wealth growing faster than
they be invested in such gtedged securities the money
kings demand None of this money offered for the develop
of fho Not of kh
panon of our agricultural for the development OF
mines. The who control this vast wealth inter
esed in the country only far their investments
in securities of the highest grade Just in proportion the
national wealth is absorbed by the who accumulate great
fortunes by of monopoes the general public will be
In less and less danger of being engued in deug of money
Three elements favorable the Philip
pnes One account of the grandeur of the idea expa
sion, another for commercial reasons and
PHILIPPINES the third from desire to have them placed
AND in position accessible to influences
CIVILIZATION that will elevate the1 inhabitants in the
scale of being.
Much has been said about the civizng influence of COM
mece but it by certain that per Sc trade pro-
notes civilization in high Through traffic people be-
come acquainted and it be conducted in honorable way
and is mutually beneficial friendly feeling will be developed
II enlargement OF knowledge of the supplying human
wants and of the of natures benecence human
ity is eevang then to that extent is civizng
But trouble lies in the eshnss of mankind man
ltest 1t IN their commercial policies individuals
private dealings 1t cannot be said that nations their poll
cies acuaed by the desire men better so much
as to make them richer
Eevang cvilzng the Fipnos does not enter into the
minds OF the class which vor expansion the grandeur of
the thing the other class whose motive enlargement of
trade and its profits The class inspired by the desire to civ
llze them will have but minimum influence giving char
acer to the of the islands, Whatever it shall be
will be dictated by politicians and traders.
Trade with the aboriginal people in the American hemi
sphere has appeciaby promoted their elevation The
nations of Africa and Asia which have forced to omen
their doors to with the enlightened Euopean
have not been percepby elevated by intercourse The re
suit has been wenh universal that races have grad
uay disappeared from contact with superior on the prn
cple of the survival of the ttest The pno NAV be taught
obedience to law but not without difficulty Industry and the
art OF developing the of their come but
all that will not make them civilized
What is civilization? According the learned Francois
Guzot does not lie in knowledge sciences and arts
nor in scholastcsm or but while all are help
full the chief feature knowledge the true relations of man
TO
The apt student of ethnooey discerned that there
is wide difference in the susceptibility the various races
to clving influences When left themselves there has beo
very little advancement the part ongoian or Malay
for thousands of years The Aryan who removed eastward
have remained at sandsti while branch that emiara
westward has continually progressed showing the of the
former that the natural tendency race to advance has
been arrested by environment.
The die to be and the Philippines destined to
be ours 1t is the duty of the whole people the of
the situation and take up the problem of their