Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-10-27
FINANCIAL KAGNATES
AMI IRELAND.
To the EdItor Of the Register.
CHARLES TOWN. III. Va. Oct 25. Il

To the Editor of the Register.
/ CHARLES TOWN, w Va, Oct 25.f
sir:-In 1913 the population OF Ire
land was nine millions. English land
/ lords collected Tor rent twenty millions
ard forty millions were collected for
taxes. Some CT these taxes were spent
/ in ireland to pay soldiers holding the
masses quiet. Here was, say, fifty mil
! lions leaving Ireland annually and go
ing 10 England. In less than twenty
years the population was reSssiced from
nine millions to tear millions Let
{ ITishmeu tell how their fathers worked
on scant food. ana how few managed
| to get &ii1ead III Tie world lis a story
I'VE have not space 10 tell.
1t is not theory but certainty that.
Iunless the security aeldlng class is
checked the masses in this country
viii become impoverished to an extent
10 man Will credit till he thinks and
reflects Like causes Will pr1dIce ike
results. In ireland the per capita was
tonly $3.50 leaving Ireland anaually and
going to England. To-day. IN this
country, the per capita leaving the
masses ana going to the security hold
ing class is more than 50, and, I'M
less, The security holding class is check
ed. it viii be over $3.50. This is as
founding. but true. Hear the following
facts which no Republican header dare
contradict in the presence tofSany well
informed Democrat.
TSiitste 10 Trnsss.
We pay interest on stocks and bonds
representing the sugar trust, every
time we buy sugar. II you nave five
in your family YOU buy 200 pounds
year. At a half a cent Q pound, it
VIII be $3.50 year that you pay as
your share OF the interest on bonds and
stocks issued by the sugar trust, If
you pay a dollar for a railroad ticket,
it is over twenty-five cents that you
contribute to interest on railroad Sc
cdrities
sIctitious capitalization.
If a bridge costs only $4,000, should
the public be Jc,led 10 pay interest on
100000 of stocks and BONDS? De
Quoting subscriptions paid III county
and otner public bonds, and the rail-
roads did not cost i've billions but are
capitalized ior eleven billions This
is cnly one OF many Illustrations. We
published LIST showing twenty five
billions OF bonds and stGcns, repre-
I senting only twelve billions OF capital
actually furnished and thirteen billions
Of faetitious capitalization. These se-
1 curities, on their face, call for an ay-
er2ge OF five and ahalf per cent, which
would De $3.50 100000 year. But the
amount, now collected from the public
is, with the present scale of wages
barely sufficient to pay Si4U, 000.0u0
which is an average OF a little less than
three per cent. These securities are
owned by a very small class. 1t IS safe
to say that, out OF a population OF sew
enty millions there are siXty-nlne mill
lions nor one of whom own a single
stock or bond. The New YORK Herald
OF September 2Sth mentioned f1iAe men
who met on Wall street about the an-
thracite coal strike and stated that they
owned or controlled $1,000 coo 900, of
: the securities referred to. We have
heretofore SHOWN uaat Z5,300 men own
or control SIS 500 000,000 of the TWEEN
ty-fiye billions; viz, 25,300 men have
sixty per cent OF the stock and bonds.
These securities are ike mortgage.
The interest is so much money leaving
the masses. and going to the security
holding class. Ii Is like the rent, col
lected in ireland and goipg to Eng
land
These 25,300 men have enormous in
comes; they live in the financial cities,
they control the larger financial insti-
tutions; tney practically appoint the
Officials OF railroads and trusts, ana
| these officials are expected 70 increase
the amount applicable to interest
These Z5,300 men not only hold this
mortgage for $15,500 0G0000, but they
already own full ons-tentA Of all the
thirlv-six billions Of real and personal
property on the tax books.
We lack SPACE to figure it ont Let