L.B. Woolfolk |
The Great Red Dragon |
That it is the London Money Power which is thus crushing our industry is proved by evidence that is a scientific demonstration . I make no assertion without proof . The demonstration has been necessarily delayed till the facts were all presented . But the proof is absolute, and overwhelming . It is, indeed, a scientific demonstration, based upon the application of the fixed laws of industry. The evidence is cumulative . Each point of evidence strengthens the others until the conclusion is demonstrated beyond the possibility of doubt. i . first proof : british testimony to the existence of the money power, in 1864 a.d. The year 1864 was an era in the growth of the Money Power . The English public then first realized its growing greatness, and the idea produced a powerful impression upon the English mind . The English are reticent on the subject of the growth of the Money Power . Not a word is ever said of it in Parliament . The papers never publish a line that would enable the foreign world to know of the centralization of all wealth and property in Britain . It is their national secret. But when they first learned of it in 1864, in the first flush of joy and pride they forgot reserve for a moment, and gave utterance to their self-gratulation . Some of these outbursts fell under the eye of the author of this work . The English writers speak in glowing terms of the rising Imperialism of commerce and wealth, then building up by the Money Kings ; but they couch their thoughts in enigmatical phrase, which would be understood by the initiated, but would not expose their national secret to the outside world. I quote two of these press statements published in 1864, in the beginning of this grandest era of the growth of the Money Power . They fully bear out all I have stated in describing the Imperialism of capital, industry and wealth established by these Jew Money Kings. 1st. First British StatementI will first quote some statements from a brilliant writer in one of the English reviews, who gives a graphicoutline sketch of the Imperialism attained, at that time, by the Money Kings . He says :
His calm style and intimate acquaintance with facts and commercial principles place this writer above the charge of exaggeration . Indeed, there is reticence throughout the article ; allusion instead of statement, suggestion rather than fact . And yet, what a picture does he draw of the imperialism over industry, trade and wealth attained by the Money Kings of London. 2nd . Second British StatementI next quote from an article in Blackwood, for 1864, in which the writer speaks of the Money Quarter of London as a Temple of Mammon, in which the Money Kings are storing up the wealth of the world . He says :—
3rd . Third British Statement : The PamphletI do not think that any one can still doubt the fact that the Money Kings of London have established a grand imperialism of industry, trade and wealth, extending all over the world . If a shadow of doubt remain in any mind, it will be dispelled by the utterances of a pamphlet given me, in London, in 1864 . The pamphlet was intended for private circulation only, and therefore speaks out frankly with regard to this grand English Imperialism of Capital . In a discussion with the author of this work, the writer of the pamphlet lost his temper and coolness of judgment, and gave him a copy of this remarkable publication. The author of the pamphlet speaks of the wealth of the Money Kings as national wealth, and of their capital as English capital . Where he speaks of England, therefore, he means the Money Power of London ; and when he speaks of the English, he means the Money Kings . The writer shows but little literary skill, either in his style, or in the grouping of his facts ; but his statements are true, and his facts authentic . The following extracts from the pamphlet present a picture of the monopoly of industry, commerce and wealth, attained by the Money Power, in 1864, that will startle mankind . The writer says :—
Filled with enthusiasm at the picture presented to his mind, the writer exclaims :—
The writer goes on :—
The foregoing statements make it evident that, in 1864, the Money Kings of London had already established a grand empire over industry, manufactures, commerce and wealth, which was then dominating all the countries of the globe . The Money Kings were the only great capitalists of the earth . No country had sufficient capital to build its own railroads, or make its own public improvements, or even raise and market its own products . All gold and silver was sent direct to London as soon as taken out of the mines, in part payment of debt, and then was redistributed by the Money Kings in loans to nations,—to states—to counties—to municipalities and to individuals . The Money Kings were then “the actual owners of the greater proportion of all the railways of the world .” They “owned or had mortgages on every vessel afloat .” The ocean commerce of the world was in their hands . Their "capital performed the internal traffic of every country .” The world was even dependent upon them for “money to supply the means of interior production .” Even at that date, this writer says, “More than half the world is mortgaged to [the Money Kings of] England .” No one can doubt that, in 1864, the great capitalists of London had established an Imperialism of Capital that was then dominating the earth, and monopolizing industry and commerce. If its capital was so great at that time, to what gigantic proportions must it have attained in the twenty-five years that have since elapsed . Its capital has at least quadrupled since then . No wonder they are everywhere seeking farm loans, and are buying up property all over the earth. The above declarations of English writers, if there were no other proof, would alone establish all that I have said about the operations of the Money Power in this country. ii . Second proof : scientific demonstration, deduced from the law's of political economy, applied to industrial condition of u.s. In a natural state of things, industry moves forward in accordance with the laws of Political Economy which regulate business and trade . When we perceive that the present condition of things in the business World is utterly contrary to what the natural laws of industry would bring about, we know that some mighty influence is at work, powerful enough to override all the laws of Political Economy, and bring about the abnormal condition of things, by the might of irresistible capital . Such is the state of fact at the present time. The Law of Scientific Demonstration has not been generally comprehended . Any Hypothesis respecting the facts of a case is scientifically demonstrated to be true, when it harmonizes and explains all the facts of the case . It is not necessary to have any outside evidence : the harmonizing and explaining all the facts of the case is, without any outside evidence, a Scientific Demonstration of the truth of the Hypothesis. It is by such evidence that the Copernican System is demonstrated to be true . In the era before Copernicus, while the Ptolemaic theory, that the Earth is the center of the universe, was held, Astronomy was not a science . When Copernicus promulgated the view that the Sun is the center of the Solar System, and that the Earth and all the Planets move around it, the theory was held to be scientifically demonstrated to be true, by the fact of its harmonizing and explaining all the phenomena of the Solar System. So, I now present the Theory that all these grand corporations that are overshadowing this country are run by Money King capital ; and I demonstrate its truth, by showing that it harmonizes and explains all the facts, which, on any other supposition, are a jumble of discordant incidents utterly contradictory of all the principles of Political Economy. 1st. The Laws of Political Economy Which Are Violated The laws of Political Economy are as fixed as the stars in their course . They are the Laws of the Business World, which are as immoveable and unalterable as the Laws of Nature . Let us note some of these Laws of the Business World :— Principle I . In a normal state of things, all prices are regulated by two things,1) The amount of currency ; and 2) The law of supply and demand. Principle II . A large capital in business operations is a great advantage, and gives to its possessors a marked superiority over competitors having small capital. Principle III . Persons established in business have an advantage over those just starting in the same business, other things equal. Principle IV . From above principles, it follows that a new Man who starts in business poor, is at a great disadvantage in competition with Rich Men who are already established. Principle V . A New Man who is Poor, if he starts in business in antagonism with rich Men who are already established, will be at such a disadvantage that he will be almost certain to fail. Principle VI . In Business Crises, men of large capital who are already established in business, have a great advantage over new Men just starting in the business with small capital. Principle VII . In Business Crises, men of small capital, who are overtrading, and have to borrow money, are at such disadvantage that they are usually the first to break. Principle VIII . It follows from the above principles, that New Men of small capital can not, as a rule, enter into competition with rich Men already established, and drive them out of business ; but in such cases of antagonistic competition, the New Men of small capital will be the first to fail. Principle IX . And especially in Business Crises, new Men of small capital can not, as a rule, successfully enter into competition with Rich Men already established, and take their business from them ; but, in such antagonistic competition, the Rich Men already established will be able to sustain themselves, and the new Men of small capital will fail. Principle X . The superiority of a large capital is equally apparent in all operations in stocks and produce, in Boards of Trade.For Principle XI . The Laws of Chance have their variations only within certain limits, and in the long run conform to regular law : so that, in gambling operations, the longest purse will win, in the long run. Principle XII . In operations in Boards of Trade, new Men with smaller capital can not, as a rule, break down richer men, and reduce them to bankruptcy;but the New Men will, in the long run, fail in such operations. Principle XIII . From the above principles it follows that, in the Business World, a man can only make a reasonable amount of money in a given time. Principle XIV . The wealth of a country, under the operation of the natural laws of Political Economy, will increase most rapidly in times of prosperity, and will increase more slowly in eras of industrial depression. The above Principles are Industrial Axioms . Their truth is recognized as soon as they are stated . They are Laws of the Business World, which are as fixed as the course of the Planets in their orbits . The Planets have their perturbations : and there may be occasional exceptions to the Laws of Industry laid down in these Principles . But the exception proves the rule . There can not be any general departure from these Principles. 2nd . These Fixed Principles of Political Economy Are Now Violated in Every Particular way by the facts of the business world, in our time . We call attention especially to four points : The Principles of Political Economy Are Violated : I . In the abnormal condition of prices ; which are no longer regulated by the amount of currency, and by the law of supply and demand ; 2 . In the abnormal condition of business ; in which new Men who started poor have taken possession of everything; 3 . In the unheard of aggregation of wealth in the hand of New Men, who have sprung up from poverty into unprecedented wealth ; and 4 . In the anomalous fact that the wealth of our country has increased most rapidly when the general prosperity was at the lowest ebb. 1 . The Principles of Political Economy Violated, by Prices Being No Longer Regulated by the Amount of Currency, And the Law of Supply and Demand The Amount of Currency and the Law of Supply and Demand would, at present, give us good prices . And the fact that prices are now broken down is evidence that there is an active and powerful agency at work subverting the laws of Political an adequate cause for the low scale of prices then prevailing. Scarcity of money is not now the cause of our low prices . Money is now abundant in the country . We have much more money than can be used in carrying on the business of the country, at the rate of prices now prevailing . The men who purchase our farming products have such abundance of means that they are able to pay cash for all our products, without needing bank accommodations . At our great money centers, money is abundant, and the rate of interest is low . Money is so abundant in the country, that any man can get a loan, for any amount, provided he has property to mortgage as security . Hundreds of millions are for loan, constantly, on farms and real estate . Money is so abundant, that its holders are seeking in every direction for opportunities of investment. The low prices of farming produce now prevailing can not be caused by a scarcity of money. Nor are the low prices caused by over-production . We have not an oversupply of wheat, or cotton, or pork, or beef, or any of the great staples of the country . The growth of population keeps pace with the growth of production, and the increased supply is merely sufficient to meet the increased demand . The crop of each year is always consumed by the time the next crop is ready for market . At no time has the market been oversupplied. The present low prices can not be attributed to a glut of the market . On the contrary, prices have gone down, especially, at times when the supply was inadequate to meet the demand . The present condition of prices is anomalous . So far as money and the law of supply and demand go, we have the conditions for fair prices. There is now as much money in the country, and we have as good a market for produce, as in 1870, and in 1881 and 1882, when prices were much higher than now.—Prices are no longer regulated by the amount of currency and the law of supply and demand. Prices are now regulated by a Titanic Imperialism of Capital . Facts already mentioned, and which it is unnecessary to repeat here, prove this demonstrably . The prices of farming produce are low, because the Imperialism of Capital is the only buyer of our produce, and there is no competition : because prices are manipulated by an Imperialism of Capital, in Boards of Trade, and fixed according to the will of the Money Power : because the Money Power so dominates the markets of the world that it makes the Liverpool price the standard for all countries ; while it keeps down the Liverpool price, by keeping on hand shipments of India produce, raised on plantations owned by the Money Kings, with Hindoo Ryot labor, at five cents a day. 2 . The Principles of Political Economy Violated, in the Fact That New Poor Men Have Taken Possession of Everything, in All Departments of Business. A multitude of New Men have grown up from poverty into sudden wealth, dispossessing richer men of business in which they were well established, thus throwing all the business of the country into new channels. New Men are at the head of the import and export trade of the country—of the trade in all lines of produce—in the oil business—in manufactures—in the great wholesale trade—in the packing business—in all the great lines of business in the country. In New York City, New Men bankrupted the old merchants, and took away the business from them. These New York merchants—English branch houses—afterwards put down the price of goods, and broke down the New England Mills . They were evidently in collusion with their London principals ; and their ability to break down the New England Mills is another proof of the mighty capital behind them. New Men went into Wall Street, and broke the old operators, and acquired immense fortunes ; a positive proof that the New Operators were backed by the unlimited capital of London, which made their operations a certainty. New Men went into the oil regions, broke down the old operators, monopolized all the wells, and secured a grand monopoly of oil ; manifest proof that they had behind them the power of an immense capital. In pork packing, the old Louisville and Cincinnati packers were all broke, while a New Man sprung up in Chicago from poverty into sudden and immense wealth ; a demonstration that the New Man who rode the storm before which the others went down, and who put $120,000,000 into his business in a few years, is not a principal in his business, But is an agent of the Money Kings, who gave him unlimited capital for his operations. This is an age of New Men . In all the great branches of business, the old business men have gone down, and New Men have taken their place . New Men who started poor, have, all over the country, broken down and displaced the former operators who were rich, and well established in business. The fact is capable of Scientific Demonstration that those Americans who have thus suddenly grown up into wealth and power, are The Agents of the London Money Power It is impossible, under the regular laws of business, that these New Men could be independent operators, conducting business on their own account . To suppose them independent operators makes the business life of the age an anomaly,—full of facts utterly contradictory of all the laws of the business world.—Our age is moving onward, with the facts it presents in utter antagonism to all Law . Its facts are a jumble of irreconcilable contradictions to the past experience of the world, and to the fixed and immutable laws of Political Economy . Enlightened Reason revolts against the idea that these men are engaged in independent business, and rejects it as utterly absurd. When, in all lines of business, we see New Men who were poor break down the rich men who were in the business before them, and drive them out of the business and take possession of it themselves, we may know that the New Men have, from some source, not known to the public, supplies of capital greater than is at the command of the men whom they break down. All the facts are explained, if we suppose that the New Men, who started poor a few years ago, are the agents of the Money Power, and are using its capital . But to suppose that they have, unaided, by their own narrow means, supplanted and driven from business richer men, is the rankest absurdity. The absurdity of the idea is manifest . It is impossible for poor young men to go into business, and bankrupt the rich men already established, and take their business from them, unless the Poor Young Men were secretly the agents of the London Money Power, and were supplied with funds by the Money Kings, so as to enable them to break down all opposition. Napoleon said, Providence always favors the strongest battalions, in war . In business, as in war, God does not choose to work miracles by setting aside the regular laws of nature, but leaves natural laws to work out their natural results ; and men of smaller capital who launch out boldly into business in antagonistic competition with rich men already established, will, as a rule, come to ruin . In business, the longest purse wins, as the strongest battalions, in war. Whenever we see a multitude of poor men growing rich, and bankrupting rich men already established in business, we may be sure that, from some source, The Victors Have the Heaviest Capital. This is Law Law fixed as the course of the planets . As has been said, the planets have their perturbations ; and there may be occasional exceptions to these business laws, where a poor man may grow rich in such a manner . But when a multitude of such cases occur—when, indeed, it is the rule for Poor Young Men to get rich, and rapidly supplant their predecessors in trade—so that all business changes hands—in such cases, it is certain that the poor men who thus get rich have behind them the backing of a mighty capital . This is Law . By the operation of the Law of Cause and Effect, the heaviest Capital carries with it power to crush smaller operators ; as surely as a thundercloud carries rain, or the North Wind cold. Look Over to London, and all is plain . We have seen that in 1864, the London Money Kings were carrying on business all over the earth . In 1865, Mr. Gladstone stated in the House of Commons that the United States was the best place for investment, and advised British capitalists to make investments here . What is more natural than that they should concentrate their capital upon this country? The Drift of Gold to the United States, proves that London capitalists have not only been reinvesting here all their profits derived from their business in this country, but that they are sending profits of their world-wide commerce over here for investment. Where is the Money that has been coming in a constant stream for investment ? We can not find it, unless it is the money these New Men have been investing in their own name . If the capital these New Men have been investing is London capital, it makes all plain. There is More Evidence to prove that the London Money Power has been extending its Imperialism over our country by breaking down our business men, and thus conquering and taking possession of our business, than there is to prove the truth of the Copernican Theory of the Solar System . It establishes the fact of the work of the London Money Power in this country beyond the possibility of doubt. This evidence is enough . But it is not all : 3. The Principles of Political Economy Violated, in the Sudden Acquisition of Inordinate Wealth by A Multitude of Poor Men, in A Very Short Time. It is needless to mention the names of the multitude of the newly and immensely rich . All know them . That they have the wealth is evident : they have the property to show for it. The Important Question is, Whose wealth is it ? Is it theirs ? and did they make it out of their own resources ? Or is it the wealth of the London Money Kings, which they are holding in trust, and managing on commission ? All is Plain if they are the agents of the Money Kings ;—but to suppose them to have made all the money themselves, in so short a time, and under such conditions, is a contradiction of all the fixed laws of Political Economy. Let Us Note Some of the Facts . We have a vast number of facts in the industry of our times which, if we leave out of view the London Money Power, are the strangest anomaly in the history of the world . There are a multitude of facts in the history of our age, which, as they are commonly regarded, transcend the vivid imagination of the Romancer, or the wild dreams of Oriental fable. When Eugene Sue needed a Colossal Fortune as the basis of that strange work of fiction, The Wandering Jew, he constructed a fortune of $42,000,000, as the result of the accumulation of several generations . But, in our times, we have the Vanderbilts credited with $200,000,000, acquired in a little over twenty years . And Armour was operating his business, in a year or two after starting it, with a capital of$120,000,000. If Eugene Sue had stated such a thing as this in his novel, it would have been scouted as perfectly ridiculous . If the author of the Arabian Nights, in narrating the adventures of Sinbad the Sailor, had made him acquire such a fortune, the credulity of his readers would have been too severely taxed . Such a Colossal Fortune would have overtaxed the powers of the Genii of Aladdin's Ring and Lamp;and yet, we believe all that is told us about the mushroom fortunes that are said to be made in our time . Without consulting probabilities at all, we take it for granted that the natural laws of industry are wholly suspended, and that MIRACLES of accumulation are being wrought around us. We believe that Com . Vanderbilt made $100,000,000, in twelve years !—that Jay Gould made $200,000,000, in ten years !—that Rockefeller has made $150,000,000, in fifteen years !—and that Armour made $120,000,000, in three years ! ! ! Is there anything the American people will not believe, if the newspapers tell them it is so ? ! ! Had those men possessed Aladdin's lamp, and diligently rubbed it all the while from Monday morning to Saturday night, they could not have made so much money, in the time ! The Gambling Argument Refuted It may be said that these men made their money dealing in stocks,that they were gamblers ; and luck was in their favor ! But the mutations of chance correct their variations in the long run, and return to some regular order, by a series of changes which may be calculated . The gambler at the roulette table may win for a time on the turn of the wheel ; but as surely as he continues to tempt Fortune, he will have a turn of luck, and will lose all, at last.—So these gamblers in stocks. They would long since have lost all they had gained, if it were mere luck ; as so many others have done, who trusted to fortune entirely, without any great unlimited capital at their back . But these men uniformly win. Their success is the result of Capital, which enabled them to insure success . Commodore Vanderbilt went into Wall street with only a million dollars . He was constantly opposed by Daniel Drew, who was worth $15,000,000 ; and he frequently had the whole street against him . And yet he was able to carry out all his plans successfully . It is known that he had command of unlimited capital—more than could be brought against him in all North America . The operations of Vanderbilt, and Gould and others in Wall street can only be accounted for by the fact that they were the agents of the London Money Kings, and were supplied with sufficient capital to make their operations an assured success. The Facts of the Outside World make it apparent how impossible it is that so many Americans should have made such colossal fortunes in a few years. An article has recently appeared which shows the concentration of wealth in a few hands in the United States, from which it appears that there is greater concentration of wealth here than in any other country . There are about seventy persons who average over $37,000,000 each, most of them having made it within the last thirty years . This makes these persons,—these Newly Rich,—wealthier than the richest capitalists of Europe, whose fortunes have been growing up for generations . It is said that “The richest dukes of England fall below the average wealth of a dozen American citizens ; while the greatest bankers, merchants and railway magnates of England can not compare in wealth with many Americans .” The average annual income of the wealthiest one hundred Englishmen is about $400,000 ; while the average annual income of the richest one hundred Americans largely exceeds $1,000,000 ! Even the richest of the Rothschilds left only about $17,000,000, the result of the accumulation of several generations(2).—Earl Dudley, the owner of the richest iron mines, was worth at his death but $20,000,000.—The Duke of Buccleuch left about $30,000,000.—The Marquis of Bute is now estimated to be worth $40,000,000 ; the Duke of Norfolk, about the same ; and the Duke of Westminster about $50,000,000. It is perfectly evident by comparison with these grand fortunes abroad, which have been actually made, and under the most favorable circumstances, how impossible it is that these Americans should have amassed these fabulous fortunes, in a day . It is impossible. The idea is contradicted by all the history of the past : it is contradicted by the actual facts known to exist in other countries, in our time : it is contradicted by the laws of Political Economy which govern the business world : it is contradicted by the certainties which limit the possibilities of business accumulation. The Absurdity of the Idea is too gross for belief . The men have not made these fortunes . It is impossible that they should have made them . They are the agents of the London Money Kings—have been using their capital—and are holding their property in trust for them. 4. The Principles of Political Economy Violated, in the Enormous Growth of Wealth in the United States, From 1870 to 1880 . A Remarkable Fact Fully Corroborates the conclusions drawn from the foregoing testimony, and proves positively the workings of the Money Power in this country . From 1870 to 1880, the wealth of this country increased from $30,068,000,000 to $43,642,000,000 ; an increase of $13,574,000,000 . That is, the wealth of the country increased in these ten years of disaster over two fifths of the whole amount ! This Immense Growth of Wealth would indicate that our country was then enjoying an unprecedented prosperity,—that our merchants, and manufacturers and farmers were growing rich with unprecedented rapidity . But the fact is, that those were ten years of overwhelming and universal financial ruin . Business was dull during the whole ten years : and five years out of the ten were years of such general prostration of business, and such overwhelming ruin, as no country ever before suffered in time of peace . Prices were never so low—business was never so prostrate—bankruptcies, never so numerous. Our people were all growing poorer : farmers were getting in debt : there were from nine thousand to ten thousand great business failures every year ; besides the multitude of small bankruptcies of which no account was kept . The American people were poorer, in 1880, than in 1870;—and yet the wealth of the country vastly increased,increased beyond precedent,—during the interval. How do We Account for the Anomaly ? The people getting poorer, and the country two-fifths richer during the ten years ? It is easily accounted for . The accumulation of wealth was not the wealth of our people ; but the wealth of the corporations established in America by the Money Kings. Those Were the Ten Years when Armour was building up his gigantic business, while American packers were being broken down : when the Money Kings were getting possession of property in Chicago and other cities : when the Money Kings were taking possession of the great lines of trade, buying up our cotton and wheat and pork and bacon and whiskey, and breaking those engaged in the business before : when the Money Kings were taking possession of our manufacturing interests in the North, and planting the beginnings of a grand manufacturing system in the New South : when Jay Gould was buying up his grand railroad system : when other railroads were being purchased, and when lumber forests and lumber mills and hundreds of other branches of American industry were purchased cheap by the Money Kings at bankrupt prices. All These Purchases Required a Vast Outlay of Foreign Capital in the country ; and they account for the strange anomaly that the wealth of the country increased so vastly, while the American people, suffering from hard times and low prices, were getting poorer, and suffered one hundred thousand great bankruptcies. There was indeed the opening up of new farms ;—but the great increase of wealth in the country was the growth of the wealth of the Money Power in America . It was the growth of grubs in the head of the sheepof worms grown from the eggs of the ox-fly in the back of the ox . The wealth was not our wealth, but the wealth of the Money Power . It did not belong to our people, or our nation, but to the horde of predacious vermin—parasites—that are preying upon us. Synopsis of the Argument As has been said, the evidence here adduced proceeds on the same scientific basis as the Scientific Demonstration that proves the truth of the Copernican Theory . As that Scientific Theory is demonstrated to be true by its harmonizing all the phenomena of the Solar System, so the Theory that it is the Money Power which is devouring all our industries is proved to be true by its harmonizing and explaining all the facts of the Business World that have been so perplexing to all observers. Everybody knows that the times are out of joint . The most startling business developments are constantly occurring;but no one has been able to account for them . Our business system is like Astronomy under the old Ptolemaic System : it is a jumble of incongruous facts, wholly unaccountable by all the ordinary laws of industry, and indeed in antagonism with them. The Hypothesis, that all the facts are caused by the work of the Money Kings through a system of agencies in this country, makes all plain. 1 . We have the existence of the Money Power set forth by English writers, who declare that it is constantly piling up the wealth of the whole world higher and higher in its Temple, the Money Quarter of London : that its capital is carrying on the business of all countries, and generally supplying to them the means of interior home production : that, twenty-four years ago, it owned almost all the railroads of the world ; and that it is carrying on its operations, all over the earth . The existence of the grand world-wide Imperialism of Capital is a demonstrated fact. Furthermore, this Money Power always operates through joint stock corporations : it always systematically conceals its operations : thoroughly organized, it proceeds in the accomplishment of its aims of conquest in accordance with a regular method. 2. Hence, when we see in this country grand corporations monopolizing all business, thoroughly organized, proceeding in their breaking down of independent business men with regular uniform method—carefully concealing their wrecking operations from the public—working always by secret underhanded methods :—these facts create a strong presumption that these corporations are the agents of the London Money Power. And when we see a multitude of other facts, all pointing in the same direction, it becomes a certainty. 3. We find a multitude of New Men, who started poor, going into business without capital of their own, and breaking down Rich Men already established in business, and taking the business from them. 4. We find New Men, starting poor, in a few years ostensibly having possession of vast fortunes, greater than the wealth of the Rothschilds, or the richest Plutocrats of Europe. 5. We find our country vastly increasing in wealth in the decade when business was dullest, times hardest ; and when the whole country was swept by an overwhelming tide of ruin. 6. We find business drifting into new channels—being monopolized by a few great capitalists—the multitude of small business operators being ruined, while grand companies with overwhelming capital are taking possession of all kinds of business. 7. We see times hard, while money is plenty : we see business dull in the ordinary business channels, while the railroads are pressed beyond their capacity by the constantly expanding industry of the country. 8. We have more business than ever before ; but it is gone out of the hands of the many small operators, and has gone into the hands of a few great business companies. 9. We see money abundant, and demand for produce steady and active ; and yet prices of produce as low as in old days of the 40's, when money was so scarce that we had only $64,000,000, of currency in the country . * * * The people have seen these and other anomalies already mentioned, and have been asking the reason . The reason for this state of things is sought in vain in ordinary business causes . The action of ordinary business causes would, in a normal state of things, give us general prosperity . There is great business activity-plenty of money lying idle—an abundant market and an active demand :—there are all the elements of prosperous times, high prices and general prosperity ;—and yet, notwithstanding, we have low prices, hard times, everybody in debt, and great masses of our people on the verge of ruin . The state of things is unaccountable by all ordinary business principles. Some Great Cause for These Effects These uniform violations of the principles of Political Economy can not be fortuitous . In all these great lines of facts the principles of Political Economy are violated ; and the facts are too numerous, and too varied, to have occurred by chance . There is some great cause, of which all the facts are the effects. Without the presence in our Country of a grand Imperialism of Capital, these facts, numerous, and on varied business lines, and all in utter violation of the principles of Political Economy, and wholly contrary to the results that would have followed the regular operation of natural business laws, could not have occurred . They are the natural effects which the capital of the Money Power, invested in vast amounts, would produce . And they could not have originated from any other cause. The facts of our Industrial System are wholly inexplicable, unless we adopt the Hypothesis that the London Money Kings own all these great enterprises, ostensibly owned by Americans ; and that their capital is producing all the anomalies apparent in our Industry. This Hypothesis harmonizes and explains all the facts of our Industrial System ; and this harmonizing and explaining the facts demonstrates the truth of the Hypothesis on the strictest Scientific principles . It is a scientific demonstration. The reasoning is without a flaw . It is the same kind of evidence as that by which the Copernican System is proved to be true . And it is even more conclusive. And yet this is not all the proof . There are other facts, which strongly corroborate the proofs already offered, and which make the conclusion doubly sure. III. Third Proof : Corroborating Facts, Proving That the Capital of These New Men is the Capital of the Money Power . If there were no other evidence, that which has been adduced is amply sufficient to prove the work of the Money Power in this country . But the last shadow of doubt is dispelled when we see so many facts in corroboration of it. Jim Fisk dies, and at his death it becomes evident that the firm of Fisk & Gould were not the owners of the Erie Railroad, but were only agents.—Jay Gould's railroad system breaks down, and proves that he did not own the railroads he was believed to possess, but was only an agent of the Money Kings.— Commodore Vanderbilt dies, and only divides up three and one-half millions among his children . — Wm. H. Vanderbilt sells out a controlling interest in the Vanderbilt system for $50,000,000, and places the money in a London bank.—And, at his death, he leaves his property, so that it can he easily controlled by a single will.—A.T. Stewart dies, and it is proved that he was only an agent of the London Money Kings :—These and many other similar facts make it certain that these grand corporations in our country are the agencies of the London Money Power. 2 . If any agent wants to deny that the Money Kings are his principals, it is very easy to prove the denial to be true. Let him show the stock books of his corporation, and show who the stockholders are ; and let him show that his corporation is not mortgaged to the London Money Kings . No man who is afraid to show his stock books, can deny that he is the agent of the London Money Kings. 3 . The necessity for concealment shows why employees of those corporations, when testifying in court, and before committees of Congress, can not be induced to state who are the stockholders of the corporations they serve . That is their secreta secret that is never divulged. One of them, after answering frankly the questions that were asked him about the management of his company, begged to be permitted not to tell who were the stockholders . He said he had come prepared to answer truly all the questions that might be asked him concerning the management of the business, but he had no right to tell who were the stockholders of the corporation . He was excused by the Committee ; and the American people do not know who are the stockholders of the Standard Oil Company. They do not wish Americans to know that all these grand corporations are owned by the London Money Kings ! They guard this precious secret with the greatest care.—The books of a corporation were once taken out of a New York court by force, and carried off to Canada, to prevent it from being discovered who were the stockholders. They never will permit the public to see their books,—unless indeed, hereafter, they should devise a new system in which the agents might be allowed to hold the stock under trust bonds, and carry it upon the books in their own name, in order to deceive the American people . They will do it, if necessary . Anything to keep their secret ! iv. Fourth Proof : the Jews Taking Possession of Property, in Europe, As in this Country. What the Money Power has been doing in this country, it has been doing all over the world . All over the earth it is extending its empire over industry, commerce and wealth . The national debts of the world now amount to about $26,000,000,000 . It is estimated that the entire indebtedness of the world, national, state, county, municipal, corporate, and individual, amounts to over $70,000,000,000 . If three-fourths of this indebtedness is owed to the Money Power—and this is a moderate estimate—then at four per cent., the income from interest alone, amounts to $2,150,000,000 a year . Beside this, it has the profits derived from its manufactures—from its ocean commerce—from its city rents—from its mines of coal and lead and silver and gold and copper and tin—from its petroleum—from its freights and passenger traffic on its railroads and ocean vesselsfrom the profits of its farms and plantationsfrom the profits of its merchandizing—from its trade in all the productions of our country, and of the whole world . From all these sources, the Money Power have an annual revenue vast beyond computation. In the United States, the Money Power is Making Almost All the Money that is made . Our people used to get the Liverpool price for our produce ; the profits being divided between the producer, the merchant who shipped, and the shipowner who carried it . But after the Money Power bought our ships, we only made the profits received at the sea board . And now, the Money Power has devoured our import and export sea board tradeour railroadsour minesour manufactures, and the traffic in all our products ; and all that our people now get is, what the Money Power pays our farmers for produce, at the railroad depots . All the profits, from that point, are realized by the Money Power and its agents . And it is the same in all other countries . From these facts, we can form an idea of the immense profits the Money Power is realizing from its imperialism over industry, commerce and wealth, all over the earth. Though the fact that the Jew Capitalists are the London Money Power, a grand Imperialism of Capital, has never been thought of before, yet thoughtful observers have noticed the rapid rise of the Jews into astonishing wealth . Since this work was written, a thoughtful book, entitled The Jews, by Samuel H. Kellogg, D.D., has fallen under my eye, from which I take some very startling facts that are new to the public . The statements are more striking in their bearing upon the Imperialism of Capital attained by the London Jews, from the fact that the author of the work has no idea of the Jewish London Money Power. It shows that the Jews have done, and are doing, in Europe, all I have shown that they are doing in the United States. 1st . Jewish Power and Influence Dr. Kellogg says :—"Everywhere in Europe is noted the extraordinary tendency of capital to concentrate in Jewish hands .” A writer in the Nineteenth Century makes the following statements :— “ The Influence of the Jews at the present time is more noticeable than ever . That they are at the head of European Capitalists, we are all well aware . * * * * The Jews are, beyond dispute, the leaders of the Plutocracy of Europe . * * * * In all the vast financial schemes of recent years, the hand of the Jews has been felt, both for good and evil . The Rothschilds are but the leading name among the whole series of capitalists, which include the great monetary chiefs of Berlin, Amsterdam, Paris and Frankfort . During the ten years, 1854 to 1864, the Rothschilds furnished in loans, $200,000,000 to England, $50,000,000 to Austria, $40,000,000 to Prussia, $130,000,000 to France, $50,000,000 to Russia, $12,000,000 to Brazil, in all $482,000,000.This, besides many millions loaned to small states .” And this was twenty-four years ago, when these capitalists were comparatively feeble ! How many millions have they loaned in the last twenty-four years ? ! ! In Prussia, where the Jews are only two per cent . of the population, in 1871, out of six hundred and forty two bankers, five hundred and fifty were Jews ; i.e. about six-sevenths of the whole number—And this was seventeen years ago . How great has been the growth of Jewish capital in the interval ! ! In Austria, a similar state of things exists . One of the religious papers of Berlin makes the statement that “The Bourse of Vienna actually lies 'wholly in Jewish hands .” The petition of the Anti-Semites, circulated in Germany, in 1880, complains:—"The fruits of Christian labor are harvested by the Jews . Capital is concentrated in Jewish hands .” 2nd . These Jew Capitalists Are Taking Possession of the Business of Europe So long ago as 1861, according to the Prussian official returns, out of seventy-one thousand Jews in Prussia, capable of work, thirty eight thousand, or more than half, were engaged in commerce ; while, at the same time, only one Jew in five hundred and eighty six was a day laborer. In Berlin,—where the Jews were five per cent . of the population,—in I87I, while, out of every hundred Protestants, thirty nine were returned as “employers," out of every hundred Jews, seventy-one were engaged in commercial life : It is evident that the Jew merchants make at least five times as much profit as the Protestant “employers" engaged in various lines of business. In Lower Austria, out of 59,122 merchants, 30,012 are returned in the last census as Jews.Over half the merchants Jews, while the Jews are less than five per cent . of the population ! And we know that the Jew stores are always extensive establishments ; while the native merchants have the small stores.—When the Jews are half in number of the merchants of our towns, what will have become of our merchants ? Where will they be? In Algiers, even a worse state of things exists . According to Le Telegraphe, "Constantina, Algiers and Oran belong almost completely to the Jews . The whole trade of Algiers is in their hands ; and, in consequence of high and usurious rates of interest, a large proportion of the natives are fallen into the power of the Jews .” The writer adds, “Here is a dark point, full of danger for the future .” 3rd . These Jew Capitalists Are Devouring the Lands of Europe The Jews have become to a vast extent the owners of the soil of Europe, and are rapidly becoming the owners of Europe in fee simple, as they are of the United States. In a debate in the German Reichstag, on the famine of 1880, in Upper Silesia and Posen, it was said that one of the causes of the starvation of the people was the fact, that the lands of those countries had passed, by mortgage foreclosure, to a vast extent, out of the hands of the German Proprietors into the hands of the Jews . So far had this foreclosure of mortgages gone that, as it was stated, the German population were so stripped and impoverished that they were “almost incapable of raising themselves again .”—So will it be in this country, in a few years more . Thank God that it is not so yet. A Berlin paper asserts, "It is a fact which can no longer be denied, that the population of the remote districts of Russia, Austria, Hungary and Roumania, are only the nominal possessors of the soil, and for the most part cultivate the land for the Jews, to whom they have mortgaged all the estates .”—One would almost suppose this writer to be speaking of farmers of Iowa and Kansas! In Galicia, mortgages have, for several years past, increased at the rate of about eight million florins per annum ; and it is stated that one-third of the total amount has already passed, by foreclosure, into the hands of the Jews . The sheriff's sales of peasant land were one hundred and sixty-four in 1867 ; but, in 1879, these sales had risen to 3,164 ; “and it was almost exclusively the Jews who brought about these foreclosures, and acquired thereby the property .” In the province of Berkowina, of the private mortgages registered in 1877, eighty-two per cent.,—according to the official returns,—were owned by the Jews.—In 1881, it was stated that already one-half of the real estate of that province, in town and country, had been taken possession of by the Jews, under foreclosure of mortgages . And Dr. Thaddeus Pilat, the Director of the Bureau of Statistics, expressed the opinion that “the remainder would, very shortly, go the same way .” From Hungary, similar facts are reported In that country, in 1878, there were sixteen thousand sheriff's sales of property, far the greater part of which passed over to the Jews . The London Spectator stated, a few years ago, that the Jews had obtained possession of so many of the old estates of Hungary, “as to make a change in the constitution a necessity .” In Roumania, the same authority says the gravest apprehensions were entertained that the Jews "would gradually oust the peasantry, till they possessed the whole land .” In Russia it is said that, as early as 1869, seventy-three per cent. of the real estate of certain provinces in the West, where the Jews are the most numerous, had passed from the Russians into the hands of the Jews. The Money Power is in a fair way to devour all the property of Asia Minor . Several years ago the New York Nation made the following statements :—
In this dreadful state of things, can we wonder that the Jews are about, in every way, to dominate Europe ? 4th. The Jew Money Kings Are Menacing Europe, as Well As America, with Domination. M. De Lavileye, the eminent publicist of Belgium, has expressed the general uneasiness that prevails on this subject, in these words : — “ The rapid rise of the Jewish element is a fact which may be observed all over Europe . If this upward movement continues, the Israelites, a century hence, will be the masters of Europe .” The London Spectator says : —
The New York Tribune quotes one of the German papers as saying,
In view of all these things, the London Spectator gives utterance to the prevailing feeling of anxiety in the following editorial, which appeared some years ago :—
5th. The Jew Money Kings Have Lately Secured a Most Extensive Control of the Press Dr. Kellogg says :
In Dresden, in a gathering of the representatives of the press, twenty-nine out of forty-three were Jews. Out of twenty-three Liberal and Progressive papers of the Berlin daily press, there are only two which are not, in one way or another, under Jewish control. In Italy, the Jews have control of the Liberal Press. The most influential paper in Spain is under Jewish control. It is well known that the Jews have control of a great portion of the Metropolitan Press of the United States . They are always open to give the gloss to events, inspired by the Money Power. It is a part of the astute policy of the Money Power, to have Jews in control of the Liberal Press in Europe . There are two advantages they derive from this :— I.) They keep up the agitation keep it boiling all the while—but keep it within limits fixed by themselves. 2.) The great advantage the Money Kings derive from the agitation of so-called Liberals and Progressives, is this : they are afraid the nations will rise against their own outrageous monopolies . They are destroying the business men of all countries ; and they are afraid the business class may rise up against them, and check their atrocious outrages in the business world . To prevent this, it is their policy to keep up an agitation of the working class, aiming at projects to which the business men are utterly opposed. It is their policy to keep up a hot agitation for Communism and Socialism in the great cities ; so that the business men, in their antagonism to those ideas, will keep on the side of the Money Power . It is a significant fact that most of the agitators for Socialism are Jews, who are most probably the agents of the Money Power to keep up this agitation for their own purposes. Thus, most of the Nihilists in Russia are Jews . Prof. Wassiljew of the Imperial University of St. Petersburg, in his testimony, given in the London Times, says, “It is an open secret that the Jews are among the leaders of the Nihilistic agitation .” The London Spectator, in a review of Victor Tissot's Russians and Germans, says : "M. Tissot calls attention to the notable fact that the Nihilist ranks are largely recruited by Jews . * * * * * There are ten times as many Jews as there are Russians, Poles, or Germans .” This shows that the Nihilist movement is largely an agitation against the Russian Government, started up by the Money Power through its Jewish agents . The Russian property class, in their horror of the Nihilists, keep in sympathy with the Money Power. So, in this country, it is the interest of the Money Power to keep up the agitation of Socialism ; so that the business class, in their abhorrence of Communism, may keep in sympathy with the railroads, and the other corporations of the Money Power . It is a part of the consummate craft of these Money Kings. No one can any longer doubt that these grand corporations are the agencies of the Money Power . The Scientific Proof is positive : and the Money Kings are doing in Europe what they are doing in the United States . Their movement in Europe, for the possession of all business and all lands, is even more advanced than it is in our own country. V. Fifth Proof : Anticipation of the Evils the Money Power Has Caused in this Country. There is no stronger evidence of the existence of a cause, than the fact that it has been traced to its effects before the effects were wrought out. The Author of this work, twenty-three years ago, traced out in a published work the evils British capital has since wrought out in this country, and predicted its monopoly of our industry, and its devouring of our property . In that work, he gave two chapters to the subject : one headed “British Centralization of Commerce,” the other “ British Centralization of Wealth .” Want of space forbids any extended quotations from the work . One passage must suffice, quoted from memory, as the work is not beside me :—
The Author, in that work, represents the American people as a prodigal heir, mortgaging his possessions to Moneybags . And he says that all would be pleasant, while Moneybags was accommodating ; but ruin would come when he insisted on having his own . Then the bankrupt prodigal would bewail his folly, too late. All this has come upon us ; and worse than the Author anticipated . The Cuckoo's egg has hatched ; and the foreign intruder has already thrown most of the nation's young out of the nest, to perish . Manufacturers, wholesale merchants, oil men, dealers in wheat, cotton, hogs, beef, and all the products of the country have been remorselessly pitched out of the nest, to perish, while the intruder takes their place. But the Author did not dream of the impudence of the Money Power, in daring to commit the ravages it has perpetrated in devouring the business of our country, step by step . He did not dream of its entering the country, and making Americans its agents to aid it in devouring their countrymen . He expected oppression, but he did not anticipate such mastery as it has achieved . He was expecting the money lender's harassments ; he did not realize the grasp of the mighty Imperialism, now throttling our country, and the world . He supposed they were merely English capitalists . He did not know that this Knot of Capitalists are the Great Red Dragon, the Seventh Head of the Beast, the mightiest Imperialism that has ever risen upon the earth ; which is now controlling all governments, devouring all property, and threatening to destroy all national life.(3) 1. The author will have occasion to quote further from this remarkable publication, later on. 2. This proves that the Rothschilds are the head of a syndicate . For that House loaned over $500,000,000 to national governments in the ten years from 1854 to 1864 ; besides all its other immense operations in the same time ; and all its previous loans . The House of Rothschild has loaned several billions of dollars . And yet the richest of the Rothschilds was worth only $17,000,000 . The House is evidently a syndicate loaning much money not owned by the Rothschild family . 3. Some may object that the Jews can not be the great Money Kings of London, because the great banking houses of Lombard street are not Jewish, but English banking houses—that the Jews are not on Lombard street, but on Threadneedle street, and others in the vicinity. But this fact is merely a specimen of the habitual craft of the Jews . They habitually hide their operations behind other parties . Nothing is more in keeping with their policy than to hide their operations behind English banking houses. Wherever the Money Kings break down a bank, or a business, it is their habit-to reorganize the establishment, take into their own hands a majority of the stock, give the original bankers, or business managers, the minority of the stock, and continue the business under the name of the old firm . They have done this repeatedly in this country. In some of the many business crises of the past, the Jews may have driven these English banking houses to the wall, and subordinated them to themselves . Or, they may have entered into some business arrangement with them, and made them their agents . The fact is known that the Jews are at the head of the head of capitalists of England, and of the world . There is nothing that militates against their imperial position in the fact that a large part of the foreign business of London capital is done through English banking houses.
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