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

the Mexican embroglio has starte,
war talk of more or less seriou
nature up and down the country. an'
much discussion of the topic is going
on in the press.
In this connection We take pleasur.
in giving the readers Of the Herald
an article recently prepared and
read before a convention Of bankers
at Salt Lake City BY David S. Jor-
dan, president of the Stanford. r..
University, which deals with the war
question in manner possibly unique
to many and is certainly well worth
careful study by every American
citizen. It follows:
II hope to show today = number
of things in regard to debt, banking.
pavn-broking and democracy and
their relation to war and peace. I
hope to show that banking as We
know it is opposed to var and waste
and debt, and that pawn-broking
came before banking and its purpose
vas to promote these very evils.
war. waste and debt. that the rise Of
the pawn-broker came in the transit
ton stage from absolute monarchy |
to government by the people.
81 wish to show that the wars of
the last century would have bank
rupted civilization if it had not been
for the pavn-broker Who took in
pawn the earnings Of the world for a
century to come.
II wish to show further that the
steady rise in the cost of living,
since 1897. the steady loss in the
corresponding rise in interest rates
Is worldwide matter, due to no
local cause.
II wish to show finally that it is
due primarily to the doubling Of the
taxes Of the civilized world since
1897. To pay his taxes. the middle ,
man must increase his profits, and ;
The final stress falls on the group :
which is weakest. shall show that
his increase of taxes has been solely 1
n the interest of war, var scares I
and war preparation; that the huge
armies and navies of the world in no !.
ray make for peace, but that inter- +.
laticnal wars can never occur again, :,
BECAUSE all the great nations, our !,
'wn excepted, are in debt to the :
init to the unseen empire Of finance,
Ihile, on the other hand, the network
( banking, of commerce, of ciyili- :,
alton, of common interest is already !,
close as 10 forbid all forms Of ~
ar between civilized nations. There :
Ill be civil wars, no doubt. until :.
'urts and congresses are everywhere !.
established, and there viii be the =.
rangling Of PeTsians and trumpery -
'tacks on wild tribes in Africa. -
Ut We may rest assured that the -
ranco-Pussian war is the last Of 60
kind. The credit of the world, -.
civilization, its commerce, its II
mixing, could not stand another.
1.-THE rule of the pavnbroker be- an
n with our revolutionary var. AZ
fore that time his business was "a,
ecanous, with huge profits and .
ushing losses. Kings we're bad me
y; their credit was poor and they I'm;
aid not borrow much at time. AZ,
t the credit Of the parliament vas h.
ter, and from pawnbroker in AZ.
ankfoFt-on-Ehe-Ma the parlia- nsv
Mt of England borrowed the money Al :
pay the Hessians. With the IN,
fits. some $500, 900, on this trans- r.,,
ion, Mayer, called RothschiId, q
pawnbroker of the Landgrave of ara
sse Cassel. was established in his -.
ger business. BE became ssuncle" ~.
The king Of Denmark. he took t,,,l
gland in pawn to furnish means Graf
her struggle against Napoleon. box.
saw Napoleon submerged by enn,
re Of British gOld'' and his sons 6ob,
her in debt to themselves and 4 :
4 associates Of the unseen empire srsc,
nance to the sum Of nearly ST. wa,s
'OOO'vOV. Yorl
On this sum the people Of Great ties,
ian have paid about $40, 0O0,- look
/ uTNU