The Mount Holly news. [volume] (Mount Holly, Burlington Co., N.J.) 1891-1942, 1914-11-17

answered befora
treating today's text. AS it is of peculiar
interest we give 1t in full. He had applied
Hebrews 12:N to our day, declaring now
In progress the removing of all things
shakable, that only things harmonious
with Divine standards, which cannot be
shaken. may remain. He held that the
shaking heavens represented Churchian-
ity Ecclesiasticism and the shaking
earth represented. social financial and po-
ntical AFFAIRS. His questioner wanted to
know what financial shakings are to be
expected. The response I, lows
Stocks and Bonds to Be Shaken.
Everything false, bogus, inequitable,
win be shaken. In financial parlance this
Is equivalent to saying that the water
win be squeezed out of all the stocks and
bonds. By methods once sanctioned, but
now everywhere reprehended, stocks and
bonds have been issued for sums far be-
yond the actual value of the properties.
These stocks and bonds have cost their
present owners varying sums from moth
ing up to 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 stu
alton and is 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 distrust
Now. in the opening of the New Dispen-
sation, when everything is being "shak-
en-" we are to expect that all such stocks
and bonds will be shaken in value until
everything like dishonesty and inequit,'
shall have been shaken out
Forty years ago the worlds great bank
ers and inanciers concluded that 1t would
be to their interest to demonetize silver
and have only gold standard. This
finally accomplished what they foresaw
and intended: 1t curtailed the world )
monetary supply and enabled the bank
ers the better to control the entire situa-
ton throughout the world. By an elabo-
rate banking system valuable in some
respects), it made each gold dollar chase
itself and do the work Of five dollars or
ten dollars. assisted by bank checks and
drafts. Thus the profits of the larger
banks increased amazingly by reason of
higher discount and interest charges
making them rich at the public expense.
. The public of course, acquiesced in the
law demonetizing silver and making gold
the single standard. But they did 1t I'M
der misrepresentation, because they be-
lieved the bankers tale-that this was
Atalty Tue DcSt tllilS IOE the peOpl6, ana
not merely 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-hah of the bankers under
stood the philosophy of the matter; 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 without
them, railroad stocks and bonds could
nf ha ha cd DO,
took over large issues of railroad stocks
and bonds. by what Is known as the I'M
derwriting 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 decla-
ration. He taketh the wise in their own
craftiness." dob 513) How so, do you
ask7 l reply that the great banks have
their vaults well filled with these bonds
and stocks on which they had hoped to
make large profits; but which, on the con-
trary, they are now unable to sell at any
price. These stocks and bonas reckoned
In as part of the banks assets. show
them to be wealthy, with immense sur
pluses; but now the water" is to be
taken out of these stocks and bonds II
will show an immense shrinkage in the re-
sources of these banks. They win become
suddenly 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 If the Day of Reckoning has
come. and their holdings-their securities
are to be reckoned at their actual value
II will mean that instead of large re-
sources and SURPRISES, some of the rich
est banks will become insovent and be
called upon by the government. either to
close their doors or to make good their
shortage. And right there will be their diff
ficulty; for the rich men Of the world have
their capital invested similarly. and the
reaction will be bound to unfayorably ar
feet all the great commercial enterprises
of the world. AS all went well. amazingly
well for the bankers and the wealthy by
reason of the decentralization of silver so
when the Day of Reckoning shall have
fully dawned things will go especially
hard with these same people. And. al
though the stoppage and the reconstruc-
ton Will involve the whole world, poor
and rich alike, nevertheless in many re-
spects the rich will feel the pressure most.
The liquidating process had already be-
gun before the present European war
started The Hartford and New Haven
Railroad The Chicago aud Rock Island.
and others, have been called to account.
With these the water squeezing proc
esses of the law have been threatening,
and will undoubtedly accomplish their
thorough shaking" But meantime. the
war, waiting not for the more gradual
processes of the law and the ordinary
business, has brought the financial world
to a crisis. The nations of Europe are
being shaken. The casualties of the war
already amount TO a million and a half
of human beings. and hundreds of mill
lions of collars. And it is only begun.
Financial values there are greatly i'm
paired, as are also national credits. The
thing wanted is gold, and as In every
war, this precious metal has practie ally
L.. tln1. N liz