Daily capital journal. (Salem, Oregon) 1903-1919, 1913-06-20
THE PEOPLES MONEY
A REMARKABLE BOOK
That Deals With Common Every Day
Problems - An Englishmsn's
View Of Our Affairs.
The Finaneier and BalliOnist.)


able brochure. The author Is well
known in England. America and Mexico
as captain Of industry, but il no
ments Of seant leisure he IS also a
polished writer, for whom the essen
tial problems OF life are more mOmen-
tous than the Glamour Of Vanity Fair.
As self-revesled in the book under no
tiee, his sentiment Is srdently humzni-
tartan, in opposition 70 that megzlo-
mania Of wealth and power which is
more manifest and infinitely more
harmful TO the community il America
than here. Even there the evils OF
Concentrated money Power-often IN
seruPously exercised, as the author
shows-are deemed intolerable nox
that America IS emerging from the
elemental stage Of evolution, with its
titanic struggles and its boundless
/ Aspirations. The great republic, as the
recent political upheaval shows. has be
I come aeutely self-eonseious, and IS de-
termined TO eliminate the rank e1cres-
( cenees that menace the well-being, the
liberties and the hsalthy progress Of
/ the community.
Il Is timely and appropriate, there
fore. that Mr.. De KAY should begin
his traetate with a sea,hing indict-
/ tment TO hitherto unbrdled money power I
in America. His disclosures are as
toHishing; they might seem incredible
were they not substsntiated by the
citation Of facts within his own kuowl- 1
edge and experience. Thus he shows
that q few manipulators are able by
the eo-ordination Of private and na-
tional banks they control 10 gamble
with the peoples savings for their own
enrichment and 70 crush all who ven
ture TO Withstand their indefensible
methods. Assuming that the indiet- /
meHt be held proved. il IS easy 70 see
that q few individuals. entrenehed in
privileged and unassailsble position, /
may hold the country TO ransom for
their own ends and pervert the great /
ideals with which the republic started.
Mr.. De Kay. however, Is not a mere de- .
structiye critic. nor does he DENY that
properly administered trusts may be
blessing rather than bane; indeed. he
considers them a necessary and inevi- Z
table development. He possesses the
constructive ability which is natural
TO one who is himself the founder Of a
great industrial undertaking and, while .
it would not be fair TO him or his pub 1
Usher TO disclose the remedies his book
suggests, it may be said that they are
within the scope Of sane and practical .
craftsmanship. He is evidently impress.
ed with the superiority Of the United
Kingdom 5 company laws over those Of
America, but, better as ours may be he
does not consider them perfect, and his
proposals are more drastic than our
legislation yet knows.
The monied classes will scarcely
have any fault to find, so far, with the
author 5 pleas, but his bold champion.
ship Of labor's emancipation and the
policy he advocates may ink the con-
servative sentiment of the ''haves, -
as distinguished from the have nots. -
1t is the fate Of writers endowed wl.h
the clear vision Of the seer TO diseon.
cent organized society, and Mr.. De Key
may not have reckoned with its repug-
nance TO fundamental changes in the
scheme Of things. Immune himself
from fleeting mirages that obsess, and
evidently very much in earnest, he is
little likely to be dissuaded from
speaking out when social well being,
as he considers, demands candor.
Throughout the world there are indi.
cations OF discomfort with existing con
ditions, insofar as these affect the
masses. One phase thereof has been
suddenly manifest in the United States
while in the Old World the increasing
dissatisfaction-vague though it be
of the toilers with their lot is tremen.
dously significant TO thoughtful OBJ.
servers. 1t is unwise to ignore or in
eonsidemtely TO condemn, aspirations
that the as natural to one class Of the
community as to another The better
policy is TO discover what is amiss, 10
grapple with the problem in a sympa-
thete spirit, and so avert threatening
evils. Whether Mr.. De Kay's rene
dies for labor's unrest throughout the
world are the NEST possible, or even
feasible. the readers Of his book must
decide for themselves. as their personal
predictions incline, bnt none can ven.
ture to impugn his courage or his high.
mindedness His book is one that dis.
pels cherished illusions. brings US face
TO face with first principles, and Is
bound to stimulate thought, if not to
command universal assent. It is grace
fully as well as cogently, written, so
that it is no task, but a pleasure, to
follow the exposition of the authors
great theme.