Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1904-04-29
10 MCDILL'S MUSINGS.
BANDITS AND BUSH-CRAWLERS.

BANDITS AND BUSH-CRAWLERS.
d. H. Phillips has been showing, in Success,
how something is made out of nothing. To
make something out of nothing has heretofore
been considered only the attribute of Deity.
The "captains of industry" under the worlds
worship of Mammon, are able to give the world
new form OF creation that in ingenuity anc
dishonesty fat exceeds anything that has as yet
occurred in the history of the Human race
Always, the few have lived upon and devour
ei the substance OF the many, but force aud
violence were the methods in the olden times.
Now, it is low cunning.
But, to the theme. Phillips opens the paper
on the good and bad times of Harrison and
Cleveland. From Phillips standpoint, bad
times defeated Harrison and elected Cleveland.
Good times elected Mckinley and defeated
Bryan. shallow assumption, and not in the
least lattering to the intelligence of voters. If
elections are lost and won by the kind of times
prevailing when campaigns are on, why all the
uoomfoolery OF urging men and measures?
1t will be conceded that good or bad times
shond rest upon the production of real wealth,
such as manufactures and farm products
Phillips shows that good or bad times rest
upon the doings of the captains of industry
who make something out of nothing. Phillips
says, "It is an old, old discovery of high finance
that more can be made out of nothing than out
OF something and it is the nothing" part of
big hotation which praduces the most ''some-
thing"
"To the fact that out OF nothing can be
made something as big or bigger as was the
nothing must be added another indissoluble re-
lated fac, that the something which financial
genius has evolved from nothing returns to its
original nothingness soon after 'Aotation is oyer;
sometimes even before the 'fotation' is quite
complete" "In seven years, Wall
street has received over two billions for water
alone" "In arranging fotation,
the floate1s, if conservative men, are ca.efu to
have sold marketable value under the bonds.
The foaters also have some foundation for the
preferr.d stock. Much of the common stock
lis not worth the paper spoiled in its authorize
aiou." "Not a share of 1t has a
tangible value" Since 1896, more than one
billion dollars of bonds, face value, more than
billion and three-quarters OF preferred stock
and more than two and half billion dollars
common stock has been issued by about two
hundred industrial combines The total of
stock issued upon no tangible basis is more
than three billion, three hundred million dol
lars. The author, in enumerating intangible
values, finds corrupt legislatures, campaign
committees and the guardians OF the temples of
instice" "more than two thousand millions of
dollars by the investing public for mulberry
leaves," i. e., nothing.
Mr. Phillips, IN comment, says: "But the
bankers and lawyers (let us by no means over
look the iawyers) have been in control of the
industrial moI ement in Wall street these last
seven wears. Wall street, that does not raise
,ound of food-stuff or clothing stuf-Wal
street. that does not whirl wheel in any fac.
,,rv anywhere-Wall street, that does not move
ton of freight-Wall street, that has its sole
nrov,nce (and vast province it is); the deal
ing in things, not the dreams or imaeinlngs,
but the tangibilities, the things that others
hroduce elsewhere, in field and mine and fac
+orv. Wall street has gone into producing
wholesale Ignorant of business, it has aaken