New Ulm review., 1913-12-31

WARS FOLLY AND FUTlLITY
Owing compelled Y
regular 'amsnt q shs articles Folly sod Fa
=. s
Ths uiAor ooparisoo bss.a s values
pursuit. mtans
have y shs saxson and rights
rsstaucs dtsnss then
really envs shod examples
Stanley With Prof he
desired
compel oppor
snoher and shows
refusing axht and hsreby putting the vast dis
and hardship and had merely
bloody battle fields Rebellion
also reviewed struggles could
avoided policy Of the injured
and all the troubles followed people
States would hare saved Al this point nalen
takes the discussion X the subjscs) *t
There had been two pacs prior to the those
of 1887 and 1857 Those panics if actually
caused by the fact that great of the banks of the
country organized and along lines laid
the pseudo Currency Principle But the lessons Of those
rb and Of other costly experiences had been sufficient
to teach and turn bankers from false method Of banking
and during the Immediately preceding the outbreak of the
Civil War the banks of the country had rapidly organ
reorganized with Banking Principle The
organized conducted with it been
mstaab proven during the panic OF 81 No bank of that
been forced suspend these only very short
The National Banking Act forced bankers again face about
Currency Principle basis for bank organization With
the result that today there is system Of banking the United
States merely arbitrary and in the whole
try there not bank note in circulation which represents
credit Every bank note in circulation has cost than its
face value to bring it into being. Ss
Against the counsels of the most eminent and efficient
position of all the banks Of the Country the national banking
rangemen violently thrust upon the people Existing
sought administrative agencies imposed the niqutous
and v 10 per cent @ tax al circulating attn notes OF
arbitrary arrangements thus up banking money
opoy could ever have into being!
pec SO eGe after Ty he Of 1885, the s trend Of
thought and Of had been in favor % and nd TO-
Civil War all this changed and as further effect the long
n was revived % nd
Protective Tariff The theory of the Mercantile System
that is in
goods exchanged for gold (and sver and the one VINO
Mercantile Theory constituted resource exactly suited
the ambitions and of rulers who sought Of
the world the subugaton and bringing Of all peoples under
personal dspo dominion and subectng them to perpetual
exactions Of tribute. :
practical application of the Mercantile Theory" Charles
Of Spain The present status Of Spain among Earths
lion adherng to policies based upon the Mercantile Theory
Of a p ss g to
whatever No nation of Earth today relatively strong
was at the zenith of her power during the reign of Char
es V. gt -" u. a
If the alleged principles Of the Mercantile System
the claims set in justification of policies of
and universal conquest had valid basis instead being the
weakest and of nations would be the most
u and richest Belief in the doctrine that nations wealth
depended aggression and conquest led the rulers of Spain
devote that coun and to to the
that gold might always be obtained for goods and flow
the Golfers of SPAIN That degades and mpovershes
we'll 'i soc ens a
recently by Norman Angel volume entitled The Great
llusion." ##l ..t ...
Mercanle SYSTEM is longer accepted valid