Omaha daily bee., 1902-04-06

the industrial life Of today Is the financial
system which furnishes what might be
called the life blood of When we
examine into the essence OF that, we find
that the usefulness of money In the devel-
opment Of and industry arises, to
a large extent, from the fact that some
people who have a surplus Of money are
induced to lend IL to others who can use 1t
to develop and carry or Industrial pursuits.
OF course the inducement to this is the in
terest paid to the owner of the money, and
this process is now recognized as an abso-
lutely necessary one in the carrying on OF
the worlds business. Yet when in the
crude beginning Of financial operations the
owner Of the money loaned 1t for interest
he encountered an overwhelming popular
prejudice against the transaction, so that II
was at one time doubted whether a man
could be a Christian and take interest on a
loan Of his money; and we remember that
In the Merchant Of Venice" the typical
villain Of the play is the man who loaned
his money and took interest for 1t, not an
extortionate rate OF interest, but any inter-
est whatever, and his character is set over
against the hero OF the play, who allowed
his friends to have his money free OF usage.
And so the early legislation Of som coun-
tries was directed against the taking of any
interest whatever upon money.
Introduction of Machinery,
Another familiar instance OF this growth
OF appliances as against prejudice and law
Is found in the Introduction OF machinery.
The evils which are now foretold to result
from the operation OF the trusts are mild
In comparison with the calamides that were
TO follow the use Of machinery. 1t was not
only going to eliminate the competition for
employment between workingmen, but It
was going to eliminate the workingman AL
together; and alarming pictures were drawn
OF the laboring classes dying in masses
upon the highways, while the worlds
production was carried on by a few man
ayers with the successful operation OF elab-
crate machinery. How idle were these
fears was found in the fact that the devel-
opment Of machinery has increased the
avenues for employment.
May 1t not be true that the trust will.
after all, be found a useful instrumentality
in the worlds progress, and that while sell
fish man may in this, as human selhshness
always has in the past, endeavor to grasp
the advantage derived from the new condl-
ton OF things, yet that corrective influences
will In time assert themselves and prevail
over the selnshness Of man?
l have endeavored to refrain from proph-
eey in discussing this question, although IL
Is dtfieult to do SO in dealing with a new
phase OF industrial growth, but l cannot
forbear making a suggestion as to the i'm
mediate effect Of the combinations OF cap
ital which unity the operations OF each line
OF business. / believe that we are now en-
tering upon a period when the leading ma
lions Of the world will engage in a gigantic
conflict Of the most dramatic earnestness
and intensity, one In which no human blood
will be shed, nor guns fired, and no fleets
will be sunk, but a strife will take place
for commercial supremacy IN which the
field OF battle will be the undeveloped and
backward portions Of the earth, and the
prize to be sought will be the control Of the
worlds For that contest our
nation is seemingly ~equipping itself with
powerful industrial armies, unified and dis
ciplined, well trained for the service and
destined to win for us the need Of victory.