The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1919-12-28

no longer pursue its tendency to isola-
ton. Nations no longer fight singuarly,
but wage war in families and in groups.
Another war will be far more deadly
than this: destruction OF human ife
and the imperiling OF civilization great
er. Had William Hohenzollern, then EN-.
peror, now private citizen, had the pre-
science and that we give him credit for
possessing, an atom of humanity, he
would have not flung the world in gen.
eral. and his own country and its al
lies in particular into such a vortex
OF misery that now encompasses it.
Nations have four, and only four,
methods by which to raise money.
The first is. the sale OF bonds. Fnan.
ciers in pre-war days placed the valua-
ton OF Germany at $50 600 600 600. Its
debt now is two hundred and twenty
billions of marks IA mark in normal con-
ditons is valued at twenty-three and
siX-tenths cents making its debt at this
time, therefore. in our money, forty
four billions Of dollars No one knows,
under the terms Of the treaty. what the
indemnity will be. but it is generally
placed at between twenty-five and thir.
ty-tlVe billions Of dollars. Assuming the
average Of thirty billions to be sum,
this would make q total Of seventy.iive
billions of dollars. This does not in.
clude the indebtedness Of smaller units
of government and what in this coun.
try would be equivalent to that Of states,
townships. counties and cities. which
we will assume is "a minimum Of ten
billions. making grand total of eighty.
five billions of dollars Truly and in
deed, in our finite minds. an incompre
hcnsible sum
\ bond, as we know, is a written obi.
CATION to pay certain sum in the
future at "a certain fixed rate Of in-
terest and it may be secured or not Sc
cured by the issuing power If it be a
bond in good standing throughout the
financial world, such as, for instance
that Of our own government, 40 assets
are pledged as security. But to the
most casual mind. no one would de.
sire to buy a bond of concern that
owed more than it is worth. Hence, rea-
son compels us to say that in no event
would the world choose to buy the
bonds Of Germany not secured and /
doubt very much if they would find a
ready market in the bourses of neutral
countries secured BY assets of the Ger
man people where such assets exist
within the limits Of Germany.
Seyond, NatbnS raise money by
taxation, but here as in the instance OF
the bonds, Germany seems to have been
reached the limit, for the political eco
nomists of Germany assert that the
power of taxation has been reached. One
Of the members Of the German Reich
stag in introducing the current budget,
the speaker used the expression 1T is
downright cruel to pass this measure
hut the eXigencies of the times make
it imperative" The rate Of taxation in
Germany at this time far surpasses that
OF any other country and is at the
breaking point There is no relief to
be found in this direction. This state
ment is patent TO every school boy.
Third Nations secure money by con
scription of labor or capital, or both.
That is to say, the government, in the
exercise of its inherent sovereignty, by
force, with or without compensation,
seizes the property Of the individual
citizen, sells it, pocketing the proceeds,
or forces the individual citizen to work
with brain and muscle and approprla'es
the results Of such efforts. III 'he IN
stant case of Germany, the diiilcnltles
Of such program are met at the thresh-
old Of the project for the re son First
Where such a process IS adopted, the
people would revolt. Second: There IS
little or no raw material with whlch
Germany may proiitably carry out such
an idea Third; They lack transporta'
ton facilities. Fourth: Want of food
and medicine and shelter and the prlm-
tive needs OF man absolutely preclude
the suggestion OF such course. Ihere-
fore, it would seem that 1t would he
quite impossible TO appeal to this source
for present or immediate ultimate re-
lief.
Fourth; Nations secure money by is
suing fiat money, that is to say, they
start their printing presses, ark the
signature OF certain government Off
cials thereto, and seek to breathe into
II the power of circulating medium.
Such course the confederacy adopted
during the Civil War; ana this ilat
money as we ull know dTODppd 50 that