The midland journal. (Rising Sun, Md.) 1885-1947, 1898-07-22
from Barker's American.

War coming and coming in spite of
them, (the money cliques) they lost no
time i'll making plans to get all possible
profit out OF the war and make the cost of
the war to them as light as possible. So
the money cliques demanded with one
voice that bonds should be issued to get
the major part or the money to carry on
the war, that such part of the expenses of
war that it should be decided to raise by
taxation should be raised by taxes so i'm
posed as to bear more largely on the
dollar of the poor man than OIL the dollar
of the rich. And these demands have
been acceeded to. And again they sought
the promise of the Secretary of the Treas
ury that when the bonds were issued and
sold the proceeds should be left on deposit
with the banks of the financial centers,
and hence at the disposal of the specula-
tive ciques until such time as needed to
meet the expenses ofthe government and
put by the government into circulation.
X
Thus we have an explanation of the
break i'll stock exchange prices before the
outbreak of the war and the very material
rise subsequent thereto. And so also
have the money cliques come to look
differently on the war. They now believe
they can gather all the profits of bond
issues without suffering any of the draw
backs i'll the way of contraction and COIL
sequent depreciation in value of stock
exchange securities. Moreover they have
succeeded in having the war taxes im-
posed i'll such way as to throw much
the greater part of the war taxes on the
poorer members of society and let the
weather. members escape with much less
than their share.
The war with Spain was undertaken
for man not for Mammon, not for the
satisfaction of the cravings of greed, but
for the liberation of our fellows from out
rage and oppression, from tyranny to
which we could not close our eyes, could
not tolerate without loss of selfrespect.
10 have an untrarnmelled hand in
working out our destiny we declared to be
our purpose, we declared and have held
with reason that if other peoples in Amer
lea had not free hand in working out
their destinies, our own progress would
1 he frat, 1aI H.,
OF giving untoward and distracting atten-
ton to the action of other peoples.
There is only one thing the matter
with the army and that is General Ayers
interference with those who know some.
thing of war and owe their position to
something else than wealth.
THE RAILROADS AND SPECULATIVE
cLIoUEs.
The result of fixing rates arbitrarily is
to cause one railroad to perhaps earn
handsome dividends, another to earn
none at all, which followed by price de-
preston gives the speculative cliques an
opportunity to buy up the securities for
very little money. Then just reversing
rates and discriminating against the sec
ton that was before favored. the railroad
that earned no dividends commences to
do so while the railroad that paid divi-
dends passes them. The result is that
| ho, 1T l. a..
lative cliques becoming the dividend
earning securities, gain greatly in selling
price, while the securities of the other
road fall. This is the chance of the spec
ulative cliques. They shift investments
and then shift rates, putting value into
the securities they have bought, decreas.
ing the value of the securities they have
sold.