The Nezperce herald. (Nezperce, Idaho) 1900-1957, 1912-09-19

revenues have been used for var.
England went first in debt
France went further with about So.
10000 900; Russia With $4,000.
100000; Italy with IS. 900, 900 900
Spain. 81. 200. 900. 600; Japan viii
s.. SOC. 900. GOO; the United State.
with 81. O0O. 900. 900. The bonded
var debt Of the world. the endIes.
caravan Of ciphers. is now s37, Oo0,-
600, 900. The interest on 1t is about
s1.2so,ooo 900 per year. and both
debt and interest and interest rates
are growing. while the bonds them
selves stand at about 80 cents on 81 ,
a fact which is putting an end to the
business of giant pavnbroking.'
III is the business Of the banker,
as you know, among other things, to
deal with going concerns. to take
the tree money of the community
and set it at work. Il is a great
agency set in operation by the peo-
pie to meet the peoples needs. n
is a network of nerves sensitive to
every influence which affects values.
It's operations are disturbed by every
var and every threat of var. War
is sickness, and it spreads from the
nations concerned throughout the
blood Of all civilization.
''PavnbrOking properly deals only |
With waste. It's existence depends
IN the need of throwing good money |
utter bad Its period of greatness
Eas when nations existed for war,
Ehsn they prided themselves on be-
ng powers and when great armies
md the preparation for great armies
tucked the blood from commerce and
ndustry.
"The nations spent their borrowed
Money on armies and navies. The
municipalities followed the same
Ian Of charging the present against
be future. The municipal debts Of
he world may be roughly guessed !
t SIS. 900. 900. 900. The worlds
,tal debt is therefore about 500
90. o0o, 900 and increasing every
az. This sum. quite inconceivable
the highest flyers Of high finance,
half the total property of the
'nited States. six times as much as
] the coin and bullion IN the world. c
all the property of the United q
lates we're sold and invested at 4 4
T cent it would just keep the var il
'penses Of the world going-in time II
peace, =hsn every nation, already 4
und, hand and foot, has neither !. :
'mach nor money to make a real Il
ut. 3
"The debts Of cities are growing ar
~ fast. Those Of Germany have ne
ubIed every 10 years since 1870, %
nding now at nearly 50, O00, OOO,- =
.. But most violent Of all increase al
been that Of the army and navy. q
las risen to nearly 50 SOC, 900, 900 noi
year for the world. In England, es 81
rmany and the United States It is -,
' nearly 81, 900. 900 day. The =
item Of smokeless powder bought
he Dupont Company costs Us -
100 per day. The navy is no
ger made Of wooden tubs, from Y
Oh brave men rush forth in hand
and conflict. A varship is now
immense floating fortress, costing
nucn as Inc average American
earn in 10000 years.
It is built not to plumber com-
&c, or to range the coasts. 1t is "
! for a possible hours fighting.
Il an hour each dreadnsught will
ictorious, sunk, captured or run
y. Their value in real war has
II been tested. The naval battle
sushima never came off, as the
Iian ships we're all sunk at long
E before the battle began.
But the battle will never begin
o. The nations controlled by
'nseen empire may buster and
ten, but they win never 20 any !
er until those who control their
come forth from their strong
in London, Paris, Berlin. Vi
and New York, 'and tell the
-