The Washington times., 1914-11-25

Pastor had a re-
quest for further
&C 9,;cET1 light on a previous
llkaSISlk kOSolllU discourse which he
answered b ( o r e
treating to-day $
text. As it is of peculiar interest
I'VE give it in full. He had applied
Hebrews 1927 to our day. declaring
now in progress the removing of all
things shakable, that only things har-
monious with Divine standards. which
cannot be shaken, may remain. He
held that the shaking heavens repre-
sented NEUTRALITY-SUSPICIOUS.
and the shaking earth represented So
cial. financial and political affairs. His
Questioner wanted to know what finan-
cial shak!ngs are to be expected. The
response follows
Stocks and Bonds to Be Shaken.
Everything false, bogus, inequitable.
viii be shaken. In financial parlance
this Is equivalent to saying that the
water" will be squeezed out of all the
stocks and bonds. By methods once
sanctioned, but now everywhere repre-
hended, stocks and bonds have been is
sued for sums fa- beyond the actual
value OF the properties. These stocks
and bonds have cost their present own
par; but their actual value is what the
properties would cost. plus a reasonable
percentage of allowance for right Of way
and business good will" In ordinary
times these had a market value built
upon hope Of their future prosperity.
Now. however, the general public has
become aware Of the real situation, and
sis fearful to touch at any price these
shares and bonds OF over-capitalized
companies, and the most sound and SOL
vent Of them share the public dist-ust
Now. in the opening Of the New Dispen.
sation, where everything is being
shaken" We are to expect that all such
stocks and bonds will be shaken in value
until everything like dishonesty and in
equity shall have been shaken out
Forty yeaS ago the worlds great
bankers and financiers concluded that II
would be to their interest to demonetize
silver and have only a gold standard.
This finally accomplished what they
foresaw and intended: it curtailed the
worlds monetary supply and enabled
fthe bankers the better, to control the
entire situation throughout the world
BY an elaborate banking system (valu-
able in some respects) 1t made each gold
dollar chase itself and do the work Of
five dollars or ten dollars, assisted by
bank checks and drafts. Thus the profit
OF the larger banks increased amazing
" by reason OF higher discount and in
terest charges, making them rich at the
public expense.
The public, Of course, acquiesced in
she law demonetizing silver and making
gold the single standard. But hey did
II under misapprehension, because they
believed the bankers tale-that this was
really the best thing for the people, and
not merely a measure in the interest Of
the banker and at the expense OF the
people. 1t Is perhaps but fair to say
that less than one-half Of the bankers
understood the philosophy of the mat
ter; the others were guided by the
Weather and more astute, who did fully
understand.
The result has been great profits to
the bankers, and great power; for with
out them railroad stocks and bonds
could not be handled successfully. The
bankers took over large issues Of rail-
road stocks and bonds. by what Is
known as the underwriting process.
They were capable sales agents for the
bonds at a good round percentage OF
profit. advancing money on the bonds
and holding them for sale to the public.
The Day of Reckoning.
Now we see fulfilled the Scripture
declaration, He taketh the wise in
THAR own craftiness." Dob 5:13). How
40, do you ask? l reply that the great
banks have their vaults well flied with
these bonds and stocks on which they
had hoped to make large profits; but
which, on the contrary. they are now
unable TO sell at any price These
stocks and bonds reckoned in as part
OF the banks assets, show them TO De
wealthy, with immense surpluses; bat
now the water" Is to be taken out Of
these stocks and bonds. 1t will show
an immense shrinkage in the resources
Of these banks. They will become sud
denly poor without actually losing a
cent, by reason of the market value Of
their securities falling.
This fact Is realized by all banks
They realize that IL the Day Of Reckon
ing has come. and their holdings-their
securities-are to be reckoned at their
actual value, II will mean that instead
Of large resources and surpluses, some
OF the richest banks will become insol-
vent and be called upon By the govern
ment either TO close their doors o. 20
make good their shortage. And rignt
there will be their difficulty: for the
ylch men Of the world have their capital
invested similarly. and the reaction VIII
be bound to unfavorablv affect ali the
great commercial enterprises Or the
world. As all went well, Amazingly
well for the bankers and the wealthy
by reason Of the demonetization Of s!-
ver. so when the Day OF Reckoning shall
have fully dawned, things will go
r;ecially hard with these same people.
And, although the stoppage and the re
construction will involve the whole
world. poor and rich alike. nevertheless
IN many respects the rich will feel the
pressure most.
The nquidating process had already
begun before the present European
wa started. The Hartford & New
Haven Railroad, The Chicago & Rock
Island. and others. have been called ;
to account. With these the water
soueezing' processes OF the law have !
been threatening, and will undoubt-
edIy accomplish their thorough 'shak |
ing" But meantime, the war. wait |
ing not for the more gradual proc !
ssses OF the law and the ordinary |
business, has brought the financial |
world 90 a crisis. The nations OF Eu- |
aope are being shaken. The casualties
Of the war already amount TO a mill |
lion and a half OF human beings. and |
hundreds OF millions Of dollars. And !
II is only begun. Financial values |
there are greatly impaired. as are also |
national credits. The thing wanted is |
gold, and as In every war. this pre-
cious metal has practically disap- |