The independent. [volume] (Lincoln, Neb.) 1902-1907, 1903-12-31
AN IMPENDING REVOLUTION
Mr. Lakin Believes We Shall Witness an
Overproduction" Panic in 1906.

Editor independent. l propose 10
fix the time when the next panic will
break upon us. Some have said that
panics recur at regular intervals Of
either ten, twelve or fifteen years.
This is foolish. Time is not the inn
portant element and cuts but little
figure. All of the panics of the past
have come at irregular intervals. My
deductions have not been made after
this fashion, but there are two pre-
vailing factors that determine the adj
vent of the panic. | will point out
those two agents clearly.
The one is overproductiOn or under
consumption; when this condition
prevails a panic Is inevitable. The
other is the breaking of spectators;
banks are caught and money becomes
scarce and financial panic results. II
it is severe, business Is dull and list
less; nobody wishes to buy the prod
ncts on the market and overproduc-
ton is at hand which is shortly fol-
lowed by an industrial panic
But the question will be asked:
Who can predict when the markets
will be glutted, and when crashing
speculative values will precipitate
financial panic? In answer to this |
saw that both of these conditions are
about fulfilled now First, we Will
consider the financial market and
Wall street at present and the peo-
pie going laundering along and never
seeing a thing. Now the question
comes: How leng can the money
barons stave off a financial panic!
Not forever; because the imitation
Keeps right on, Stocks are watered
against enterprise more and more cy-
cry day. But the republicans Will
prevent financial panic before the
presidential election of 1904. II they
did not their party would be defeated.
tt Is necessary for them to keep down
the panic until then and they must
and will have their party placed IN
mower in 1904. After the election they
will not be able to stave Off the evil
day for more than one year, no mat
ter how hard they may try; and the
year 1905 will thus be bolstered up and
made artifcially prosperous.
The year 1906 will be one OF the
greatest financial panics this country
has witnessed. 1t will be worse than
that of 1893; for by this time there
will be overproduction.
The evils of overproduction have
been fully discussed, and the little
hope there is Of escaping it, it be-
comes plain for two reasons alone
that panic at this time will be IN
tensely severe. Great ovefproductlon
and highly inflated values which have
kent that way and bolstered artilic-
ially will be too much even for the
money barons and all Wall street
force will then be used to keep them
down. Bread riots have been common
in the past, but meat riots Will be
something new. The people will re-
sort to violence when goaded onto it.
1t also will afford forecast of what
will happen when the great panic and
revolution comes.
The granaries and storehouses will
be filled to bursting with grain, GER
calls and goods; the warehouses Will
be filled with dry goods, clothing and
all kinds of supplies, but millions will
be hungry. ragged and wretched. In
this condition in the midst OF plenty,
they will not quietly submit, but Will
riot at once. The absurdity OF the
situation will only goad them to
frenzy. They will see one thing. we
have raised and produced too much
food. for the trusts to build too many
houses: while the countless throng
are crowded into tenement houses
like cattle, and Others are homeless.
Overproduction of everything and
vet 20 without. Frenzy. madness and
rioting win be the answer. bloodshed
their only satisfaction. The hungry,
the wretched. the unemployed, the
strikers. paupers and fanatics will be
the most aggressive and will bear the
brunt of the battle. The other side,
The side of the trusts, Will have a
trained army and the latest devices
OF warfare and will clash with them;
anl once more this once free land OF
America will flow with precious blood.
Let none, then. be- deceived by two
or three years OF prosperity between
now and i10G pIntoeracy must BY
all means prevent money panic be.
tween now and the election nE 1901,
They may possibly extend II year
beyond that time; and while they