The Washington times., 1914-11-25

IoliiS securities VIII not De SdldDle LOT
cash, and a general attempt will be
! made to sell American securities -
American stocks, bonds, etc. But who
VIII buy these? America will be prac-
ticaliy the only market for them, and
as We have already seen, American
! banks and bankers are loaded down
| heavily.
When we learn the immense amount
Of these American shares and bonds
! held in European hands. we need not
wonder that American bankers pale at
| the thought of their being dumped upon
the American market. Reliable financial
authorities declare that Europe has
about five thousand millions Of dollars
invested in American securities. If but
one fifth OF these be sacrificed to realize
gold. it will mean an avalanche-a finan-
, cial deluge. American banks. already
overloaded with these securities" can
not purchase all: hence prices will tum-
BILE and wrecks follow.
In view of these matters. is. - 1t 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 Exchanges that
awful panic was temporarily averted.
BY their closing, the owners Of the
stocks and bonds have been hindered
from realizing upon them; thus the face
value Of these stocks and bonds has
oeen preserved. and thereby the banks
and bankers have been permitted to
continue to count these shares and
bonds at fictitious prices which nobody
would pay for them today
Effect of Silver Decentralization.
HAD silver not been demonetized.
bankers would not have had as easy
time as they have enjoyed in cornerine
th> financial market ard 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 nave 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 paw
Ing or the interest Of the debts. we
perceive how the banking institutions
nave mad the people, f1guratively, 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 1t to pay the interest Hence the
only thing remaining to be done is to
issue more bonds. payable in gold also.
ana the interest payable in gold Now
that nobody will buy the bonds. what
is to be done? Interest on foreign hold
ings Of American Securities" esti-
mated at only four per cent. per an
mum, means a drainage Of two hundred
millions OF dollars ev year in gold.
needed to pay that interest Now we
seem 10 be coming to a dead stop
through this war: and the wheels Of
nnance which worked so fayorably for
the bankers in the past are turning In
the opposite direction Ind laceratinp
them financially.
Apparently our financial house OF
cards is trembling and about to fall.
various expediencies are being tried by
'ne governments and the ablest finan-
ciers OF the world. We might bona tba,
their skill would accomplish the end
they desire, and save the present instI-
Fuuone-fn nancial-from being shaken
10 pieces But, IL We are right in our
undeFst landing OF the Scriptures-If the
eteat Day Of Settlement has come IN
Which al the shakable thinks are TO be
sHaken and nothing remain except that
Whlch cannot be shaken, then we m.v
De sure that all human effort will fail
aho mat the greatest Of all crashes Of
d nnancial kind that have ever han
pened VIII take place
VIZ "e Holiced that / am saving
nothLAg heW-that what have Just said
oS S DIn saio IN part at least. by many.
ana published in the newspaners -,
merely bringing together the.a +bi,os
ana showing their Relationship m e..
testimony OF the Bible. that We sro ,oru
al Inc great day OF shaking" oso,,.
ttiis Will De considered fanatical nas
siHi'sih' because the vast majority ~
people have absolutely no confdar.c. "
the Bible. Nevertheless WHOM 81 |
'hIhgs snail come TO pass in the ver,,
near future. some may be helned % a.
understanding OF the true situation,+o !
recognition OF the fact that the shall
ing upon the nat.ons-f1nancial social
! po.,'.caI ana reIIsious-is Of the Lord
and not accidental
Under normal conditions An.r,oo,
business should be prosperinx as naTa-
before, because her commercial cono.
peutors are at war, and unable to r,ron- !
cry dtlehd 10 their commercial inter
ests. Likewise. American securities !
should be in demand, because all 60
curities of foreign countries have do
iIeciated by the war. But with tho uoi,
standard and an Insufficiency Of FoI1
the business Of the entire world 10 etag.
mated. The worlds needs and wants ar
as great as ever, but 1t has not the
h''H "ieie"4Ln 10 purchase. The de- /
monetization OF silver seems to he ra- .
ferred 10 by the Prophet Ezekiel (7.lW !
saying, They shall cast their silver
into the street"-treat II as comnod- |!
ity and not as money. The Propbet |!
then tells how gold Will become scarce
and eventually be completely withdraw,
by the people hiding it as though il
were an unclean thing. as the Hebrew
text implies TER gold shall be re-
moved. Thus neither silver nor gold
will be available
who hold their securities, perceive that
II II is difficult TO raise money for the !
meeting OF the interest on the bonds.
II will be more difficult to issue new
bonds to replace maturing ones no mat
ter how sound and well managed the
railway may be. Is II any Jonder that
TIE treDtdation OF the financial and po-
l'tcal princes Of the earth is great, as
they look into the future! Their we'll
grounded fears were prophesied by our
Saviour as one OF the signs OF the pres
ent time: Mems hearts falling them .
for fear and for looking after those
things coming upon the earth"-the
social order-and because Of the shak-
ing Of the heavens, the ecclesiastical
systens.-Luke 21:26. /
Fear numanity'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 appre-
Il. y1,.g