New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-11-09

W men we ltdIU tDe lHlH'HHf aHi"'h
Of these American shares and bonds
held in European hands, we need not
wonder that American bankers pale
Mt the thought Of their being dumped
upon the American market. Reliable
financial authorities declare that Flu
rope has about fye thousand millions
Of dollars invested in American securi-
ties. II but one-fifth Of these be sacrI-
feed to realize gold, il will mean an
avalanche financial deluge. American
banks, already overloaded with these
Securities" cannot purchase all; hence
prices will tumble and wrecks follow.
In view of these matters, is IL any
wonder that American bankers fear TO
see the stock Exchanges open for busi-
ness? Had the Exchanges not closed
promptly when they did, we would have
had the most terrible panic ever
known. BY the closing Of the Ex-
changes that awful panic was fcmpor-
Griiy Grcrfd. By their closing, the
owners OF the stocks and bonds have
been hindered from realizing upon
them; thus the face value has been
preserved. and thereby the banks and
bankers have been permitted 10 con-
tinue 10 count these shares and bonds
IT fictitious prices which nobody would
pay for them to-day.
Effect of Silver Decentralization.
Had silver not been demonetized
bankers would not have had as easy a
time as they have enjoyed in cornerng
the financial market, and getting large
rates of interest and premiums; but
neither would they be in the same dis
tress at the present time, for the world
would have had twice AS much money
with which to do its business. When we
consider that the gold coin Of the
world is not sufficient for even the
paying of the interest of the debts, we
perceive how the banking institutions
have had the people, iguratiyely, by
the throat, and now are being choked
themselves by their own device.
The interest upon the debts cannot
be paid in gold because there is not
enough of it 20 pay the interest. Hence
the only thing remaining to be done is
20 issue more bonds, payable in gold
also, and the interest payable in gold.
Now that nobody will buy the bonds,
what is 20 be done? Interest on for
eign holdings Of American Securities
estimated at only AZ per annum. means
q drainage Of 5000, 000, 900 every year in
gold, needed 20 pay that interest. Now
we seem 20 be coming 10 dead stop
through this war; and the wheels Of
finance, which worked so favorably for
the bankers in the past, are turning IN
TIE opposite direction, decorating them
financially.
Apparently our financial "house of
cards" is trembling, and about 10 fall
Various expediencies are being tried
by the governments and the ablest
tinanciers of the world. We might
hope that their skill would accom-
plish the end they desire, and save
the present institutional Il
from being shaken" TO pieces. But,
Il we are right in our understanding
of the Scriptures-if the great Day Of
Settlement has come, in which all the
shakable things are TO be shaken and
nothing remain except that which cam
not be shaken, then we may be sure
that all human effort will fail, and
that the greatest Of all financial
crashes will take place.
K will be noticed that ! am saying
nothing new--that what | have Just
said has been said in part at least, by
papers. | am merely bringing to-
gether these things. and showing
their relationship TO the testimony Of
the Bible, that we are now in the
great day of shaking" To some this
will be considered a fanatlcal pes
simism because the vast majority Of
people have absolutely no confidence in
the Bible Nevertheless when these
things shall come to pass in the very
near future some may be helped TO
an understanding of the true situa-
tion-to a recognition of the fact that
the shaking" upon the nations-iin-
ancial, social, political and religious -
is of the Lord, and not accidental.
Under normal conditions American
before, because her commercial COM
petitors are at war and unable TO
properly attend to their commercial
ties should be in demand, because all
deprecated by the war. But with the
gold standard and an insufficiency Of
gold, the business OF the entire world
is stagnated. The worlds needs and
wants are as great as ever, but IL has
not the gold wherewith to purchase.
The demonstration of silver seems TO
be referred to by the Prophet Ezekiel
G:19) saying. They shall cast their
silver into the street'-treat it as
commodity and not as money The
Prophet then tells how gold will be-
come scarce and eventually be com
pletely withdrawn, the people hiding it
as though it were an unclean thing as
the Hebrew text implies-"Their gold
shall be removed" Thus neither silver
nor gold will be available.
Railroad magnates, and the bankers
who hold their securities, perceive that
if it is difficult to raise money for the
meeting of the interest on the bonds,
it will be more difficult TO issue new
bonds TO replace maturing ones, no
matter how sound and well managed
the railway may be. Is il any wonder
that the trepidation Of the financial
and political princes of the earth is
great, as they look into the future!
Their well-grounded fears were proph-
esied by our Saviour as one Of the
signs of the present time: Mems
hearts failing them for fear and for
looking after those things coming upon
the earth"-the social order-and be-
cause of the shaking of the heavens
ecclesiastical systems.-Luke, 2l:26.
Fear Humaniiy's Bane.
The speaker then passed TO his text
outlined its meaning. and said:-
Sin made moral towards of our race.
From early infancy fear and apprehen-
sion, especially in respect to things
future, have been impressed upon US.
We realize that we are imperfect, that
our God is perfect, that perfection is
the only standard which lie could APP
prove, and that some kind of punish
ment for sin must be expected. The
Adversary, taking advantage OF our
forefathers. misrenresented the Al