The Globe-republican., 1901-06-13
7ALMAGE'S SERMON.
ARRAIGNS THE PRESENT ERA
OF PROFIT SEEkING-
Condemns tho Methods of Speculation
That Has q Tendency Make Man
kind Overlook the Real Purposes of
Our

Our
Copyright. 1901. by Louis Klopsch. N 70
Washington, June s--In this dis
course DR. TaImage arraigns the spirit
Of wild speculation and gives some ac-
count of the financial ruin of other
days: Proverbs XIII, 5, Riches GER
tain1y make themselves wings; they fly
away as an eagle toward heaven
Money is golden breasted bird with
silver beak- 1t alights on the office
desk or on the parlor center table Men
and women stand and admire it They
do not notice that it has wings larger
than a ravens, larger than a hamin-
COS, larger than an eagles. One wave
of the hand of misfortune and it
spreads its beautiful plumage and is
gone-..as an eagle toward heaven.
my text says. though sometimes think
IL goes in the other direction
Wall street Condemned.
What verihcation we have had of
the flying capacity of riches in Wall
street, And Wall street is one of the
longest streets in the world 1t does
not begin at the foot OF Trinity
church, New York. and end at the East
| river, as many suppose 1t reaches
| through all our American cities and
! across the sea- Encouraged by the
revival of trade and by the fact that
/! Wall street disasters of other years
| were far back to be forgotten.
| spectators run up the stocks from
/ point to point until innocent people on
! the outside suppose that the stocks
| would always continue to ascend They
/ gather in from all parts of the coun-
| try Large sums of money are taken
| into Wall street and small sums of
| money. The crash comes, thank God,
| in time to warn off a great many who
| who We're on their way thither, for the
sadness of the thing is that a great
many of the young men of our cities
| who save a little money for the pur-
| pose of starting themselves in business
| and who have $500 81 900 or $4,000
or $4,000 go into Wall street and
lose all. And if there ever was a time
for the pulpit to speak out in regard to
certain kinds of nefarious enterprises
now is the time.
Stocks rose and fell. and now they
| begin to rise again, and they will fall
| again until thousands Of young men
| will be ruined unless the printing press
| and the pulpit give emphatic utterance-
! My counsel is to countrymen, SO far
| as they may hear of this discourse,
| If theX have surplus to invest it in first
mortgages and in moneyed institutions
| which. though paying comparatively
| small interest, are sound and safe be-
| yond dispute, and to stand clear of the
| Wall street vortex, where SO many
| have been swamped and swallowed
| What a compliment it is to the healthy
| condition of our country that these re-
| cent disasters have in no way depress-
| ed trade. 1 thank God that Wall
| streets capacity to blast this country
! has gone forever.
| a Street with a History.
/ Across the island of New York in
| 1855 a wall made of stone and earth
| and cannon mounted was built to keep
| off the savages. Along by that wall
street was laid out. and as the street
| followed the line of the wall it was ap
| propriately called Wall street. It is
| narrow it is unarchitecturaI, and yet
| its history is unique. Excepting Lom-
bard street. London, it is the mightiest
| street on this planet. There the gov
| eminent of the United States was born.
| There Washington held his 1evees-
| There Mrs. Adams and Mrs Caldwell
and Mrs Knox and other brilliant wO-
| men of the Revolution displayed their
| charms. There Witherspoon and Jona-
| than Edwards and George Whitefield
sometimes preached. There DR. Mason
| chided Alexander Hamilton for writing
| the constitution of the United States
| without any God in it There negroes
| were sold in the slave mart. There
criminals were harnessed to wheelbar-
| rows and, like beasts of burden. com
| PEELED to draw or were dashed through
| the street behind carts to which they
| were fastened Their fortunes have
| come to coronation or burial since the
| day when reckless spectators in pow
| dered hair and silver shoe buckles
| lodged Dugan, the governor general Of
| his majesty, clear down to yesterday
at o'clock The history of Wall street
| is to certain extent the financial
| commercial, agricultural, mining. lit
| erary. artistic. moral and religious his
| tory of this country They are the best
| men in this country and there are the
| worst Everything from answering
| integrity to tip-top sccundre1ism-
| everything from heaven born charity
| to bloOd1eSs Shylockism- I want to put
| the plow in at the curbstone of Trinity
and drive it clear through to Wall
| street ferry And so it shall go if the
| horses are strong enough to draw the
.JustiHabIe Speculation.
1 Again 1 have to remark that Wall
| street is type throughout the country
! OF legitimate speculation the one
hand and of ruinOuS gambling the
| other Almost every merchant is to
| some extent a specuIator He denends