Weekly Jeffersonian., 1907-01-24


this is one example of it, very spe-
cial privilege indeed.
Let us glance at his condition again,
say in 1890.
BY that time, we find that he has
increased the yearly profit by using a
government prerogative for the bene-
fit of his own private business until
Uncle Sam says he is making $7O,-
100000 per year clear profit. In 1900
the national banks are making $780,
100000 clear profit and in 1905 they
have increased it until it is $106,0o0,000
per year net profit. Now I see what
goes with a part of the losses of the
farmer.
Let us dig and delve a little fur
ther into Uncle Sans Statistical Alb
stract. We come upon the loan and
trust companies, the savings bank
companies, the private banks and the
state banks, and we find that each of
these gentlemen may be described as
Shakespeare describes the Thane Of
Cawdor, each one of them is "a pros
porous gentleman" They are all max
ing huge, clear profits In the aggre-
gate, we find this most astonishing,
and rightly considered, alarming fact
that in 1903 (and the condition is
practically the same today, these va
riouS banking companies, including, of
course, the national banks, had avail
able cash assets to the amount of
1888, 100000, whereas they had loaned
out and were drawing interest upon
ten times that amount, to-wit, $685.
100000, more than twice as much as
all the money of every sort on the
North American continent. No Won
der the Thane of Cawdor CD is "a
prosperous gentleman" when he can
hold in his hands one dollar and make
ten paper dollars, based upon that one
dollar, bring him in ten times as much
interest as that one dollar, by any pos.
sibiIity, could earn. 1t would be an
amusing thing, indeed, if the Thane
of Cawdor were not a prosperous gen.
tleman. | think we have found some
of the men with the goods on them.
Here is where some of the farmers
money has been going.
But, there are others. Let us hunt
a little further. In Uncle Sans Sta
tistical Abstract I come upon the re-
port of the railroad situation. In
brief, here are the facts. In 1880, the
railroads Of the United States were
earning, in net profits, the stupendous
sum of $255, 100000. In 1890 these
net earnings had increased until they
reached annually the sum of 1872, ,000,-
900. In 1900 the increase had gone
from year to year until in that year,
they had climbed to the pinnacle Of
$483, 100000 and in 1905 so rapid had
been the growth of this profit that
they had 639,000,0 900 to draw interest
upon. You don't need to be told that
the railroads have got part of what
the farmers have lost. In the reckless
endeavor to earn dividends upon fic-
titious values, watered stock, fraudu-
lent issues of bonds, the Railroad
Kings have stopped at nothing They
have paved the road of their conquest
with the wrecks of human fortune and
the blood of human sacrifice.
But let us dig and delve little fur
ther Let us examine into the condi-
tion of the manufacturing industries.
In 1880 we find that the amount Of
capital invested in manufactures was
$2,790,000,000; number of hands en-
played less than 100000. The prod
uct sold for more than five and a quar-
ter billion. After paying off every
man, woman and child an average
wage of about $34S, and after paying
for every dollar of material used in
the mills, there was a net profit re-
naming to the manufactures Of ST.
024,000 What! How much capital