New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-07

come from any other than dividends interest
paid upon the nations securities
By paying labor necessary additional wage investors
will be Reimbursed:
l. The vital element absent from American
securtes-condence- return with the right settle
ment of the labor problem.
2. The purchasing ability Of the vast majority OF
the American people, labor will be increased by billion
dollars received in increased wages. This will bring
unprecedented business prosperity which in turn will
increase the earnings of the industries upon which legit
mate securities based and will increase the price and
dividends Of these securities
Investors may well ponder the following:
certain great railroad short time ago charged the
public rates which enabled pay dividends OF SO, or
$ per share upon hundreds OF millions OF stock Its
stockholders were satisfied lis stock sold at 500 per
share Then. by Money Irust-Stock Exchange trick
lis controllers manipulated the stocks price $500 per
share and. using this abnormaly high price excuse
raised its rates and earnings sufficiently enable it to
paw go upon its market price. SO per share. This
while making" for the man who invented and executed
the trick fortune OF over 200 million dollars added to the
cost OF the peoples living the s. per share came
from them in the form Of mark-up IN the price OF the
necessities.
Thus wa, capitals return doubled while labors deposited
saving. in savings banks the foundation OF the Money Trust
Stool; Exchange trick. have remained per cent.
5omd be a libel on the intelligence Of nightly organ
sed labor to suppose thar il U fedccdby listen TO tins rail-
roads Plea a cannot cp d,idcpds back 10 SO on its real
capital TO enable 10 g,e TO labor ITS necessary increase
sage.
\ certain great industry lew years ago paid div
bends upon it, hundreds OF millions OF stock, all Of
which wa, water 4, its stockholders had right TO dH
bends they were satisfied in receiving To-day this in
.trv adds to the price product foundation necessity
ii the people S2;0ooOOo each year Tor the payment OF Pc
cent on is hundreds OF millions Of water capital NJ its sell
ing price TO-DAY th, stock gives annual return OF per
cent to purchasers while paving the time for the use
Of abors deposited banks capital indirectly Dor
rowed iron saving, banks or in It's business but per
cent
1t would be than libel the intelligence OF the
American people to suppose that they will peacefully
stand by and allow this while labor refused its neces
sary increase wage riots and dynamtes the
nation from its present decentralization something
1t is inevitable that this industry must stop its d'v
bends and must leave the people either in the form
of increased wage labor the form OF reduction in
the price of its product the rs million dollars takes
from them
Neither this railroad industry is exception TO
the general run of their class There similarly
inflated in capital and in dividend returns
Investors should ponder this, too:
The Congressional Money Trs-Stocl Exchange lnves-
gating Committee demanded that the Controller OF Cur
rcncv furnish Congress and through Congress the American
people with list OF all stocks held by banks and trust COM
panies as collateral Tor loans the officers and directors OF
such institutions The demand refused If it had been
granted there would have been exposed to the people an un
bccvablc condition billion, OF deposits supposed to be intact
in cash or good notes stocks bonds withdrawn By officers
and directors and replaced by billions OF inflated stocks and
bonds nmarketab at 20 cents the dollar Of what had been
loaned upon them.
The Investigating Committee introduced bill in Con
sress TO compel the giving OF the askedfo information and
although it passed the House it was killed in the Senate.
Investors should weigh the probability OF the present re
form administration insisting upon law which will expose
the gigantic corporation and crookedness existing
ire opportunity to make the exchange from bad to good
curitics.
Nv investigation into present conditions leads me 70
the opinion that investors will not have over three
months dating from to-day in which to make the
exchange from bad stocks and bonds into good ones 1t
they wait too long and all to make the exchange at
once inanciadom will surely be confronted with disas
condition
final word to labor capital and the Government:
Labor insist upon its necessary increase IN
wage and while insisting it must allow argument to
defect its vision from the Only from which its
Increased wage can coecut in present abnormay high
dividends and interest.
Capital concede to labor its necessary increase
bv cutting its present dividends and interest else pres
zation will until has