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the ariji oj mongni ana events , and to 


ACT IVIS ELY. 


This Book will be a powerful factor in 
a mighty movement now steadily gathering 
force , which will arrest , with quiet but 
relentless grasp , the Arrogant Domination 
of Monopolistic Capital. 
























































Gpe&t* Red jVa^on, 


OR 


LONDON MONEY POWER. 


BY 


L,. B. WOOLFOLK. 



CINCINNATI : 


GEORGE E. STEVENS, 
39 \V. Fourth St. 

1S90. 



Copyrighted 

1889, 

By L,. B. WOOLFOLK. 


ALL EIGHTS RESERVED. 



TO THE RMERICRN PEOPLE t 

Trusting that its publication will promats the glory 
of God and the highest well-being of Man t 
In exposing, and leading to the overthrow of the 
mightiest Evil that has ever risen 
on the Earth; and 

In revealing JEHOURH on the side of humanity now, 
as of old, leading our Race in the prophetic 
PILLRR OF LIGHT out of the 
bondage of the present Era into 
the glorious Millennial 
Canaan promised 
to Man, 

-®txs Mlorh,- 

Rs an Offering on the Rltar of CDesecration—and a 
Tribute of Philanthropy from a heart yearning 
with unspeakable longing and hope 
for the UJell-being of Man¬ 
kind, is respectfully 
inscribed by 


■ Of 


ayy 


THE RUTHOR, 




PREFACE. 


This work is divided into three parts: — 

Part I gives a History of the Rise of the London 
Money Power. 

Part II proves that this Imperialism of Capital,— 
the London Money Power,—is foretold in prophecy, 
under the symbol of the Great Red Dragon. 

Part III gives the Remedy for the industrial evils 
that afflict our country. 

There are many persons, perhaps, who will be 
deeply interested in Part I, and Part III, who will 
feel but little interest in the prophetic portion of the 
work. The work is so arranged that all such per¬ 
sons can skip Part II, and pass from Part I to Part 
III, without any break in the connection of thought: 
though they will miss the most striking delineations 
of the character and the activities of the Money 
Power. 

On the other hand, those who are interested in 
the prophetic aspect of the work, will find its struct¬ 
ure in proper logical arrangement as a prophetic 
exposition; since it is necessary to present the his¬ 
tory of the Money Power, before the symbols of 
prophecy can be applied to it. 

This work is the outgrowth of a life of thought, 
largely directed to the study of Prophecy, History, 
and Political Economy. Indeed, the work is the 

product of original thought. Its historical portion 

M 




VI 


preface. 


is the history of an Imperialism whose existence has 
been hitherto unrecognized.—Its remedy is based 
upon principles of Political Economy that have never 
before been presented to the world.—Its Prophetic 
Exposition is part of a System of Prophetic Inter¬ 
pretation that is entirely new. The Author may 
therefore claim the indulgence due to a pioneer, 
whose movement is over a pathway unsmoothed by 
the progress of earlier thought. 

As no history of the London Money Power has 
ever been written, the Author has been under the 
necessity of gathering his facts from newspaper items, 
and from the statements of individuals whose reli¬ 
ability is above question. His store of facts has been 
constantly increasing down to the present time. Some 
important facts he has learned since the publication 
of this work began; other facts he learned too late 
for them to appear in the present edition.—No doubt, 
in every community facts are known which illustrate 
the course of Lhe Money Power in this country. These 
facts will doubtless soon be published ; and it is hoped 
that ere long a full and connected history of the Rise 
of the Money Power may be given to the world. 



PART 1. 


HISTORY OF THE RISE 

OF 

THE LONDON MONEY POWER. 


Chapter I. 

RISE OF THE MONEY POWER—FIRST ERA. 

I. INTRODUCTION. 

An Imperialism of Capital has grown up within the last 
two centuries from small beginnings, until it is now the 
mightiest power that has ever existed on the earth. It is 
an Imperialism mightier than the empire of the Ctesars, 
grander than the empire of Napoleon in the hour of his 
highest glory. In comparison with it all other empires 
sink into comparative insignificance. This titanic power 
is the Imperialism of Capital, which I call, by way of dis¬ 
tinction, the Money Power. 

1 st. The Money Power Defined. 

I do not mean by the Money Power to include any per¬ 
sons possessed of property, who are engaged in independ¬ 
ent business enterprise. I do not mean any American 
business men, or business Companies engaged in inde¬ 
pendent business enterprise, whether they be farmers, mer¬ 
chants, manufacturers, bankers, miners, builders, or per¬ 
sons engaged in any department of business enterprise. 
The Imperialism of Capital to which I allude is a knot of 



8 RISE OF THE MONEY POWER. 

capitalists—Jews almost to a man—who have their head¬ 
quarters in the Money Quarter of London, in Thread- 
needle street, Lombard, and other streets in that vicinity, 
where bankers have their habitat. These Jew capitalists 
have succeeded in centralizing in their own hands the 
industry and commerce of the earth.—They own almost 
all the debts of the world,—the debts of nations, states, 
counties, municipalities, corporations and individuals,— 
amounting in the aggregate, it is estimated, to seventy- 
five billion dollars, on which they are annually receiving 
about four billion dollars of interest.—They own the 
manufactories, the shipping, and the commerce of Great 
Britain, and most of the manufactures, shipping and com¬ 
merce of the whole world.—They have attained control 
of the industry and trade of the whole earth; and are 
rapidly centralizing all business in their own hands. They 
hold possession of all the great lines of trade and business 
of all kinds, and they regulate all prices by their own 
arbitrary methods.—These Jew Money Kings have estab¬ 
lished a grand Imperialism of industry, commerce' and 
wealth, which is thoroughly organized, and rules in the 
sphere of industry and trade with autocratic sway. 

In our age, Capitai, is King. This Money Power of 
the Money Quarter of London is the only grand preemi¬ 
nent Imperialism existing on the earth. Monarchs sev¬ 
erally rule their own dominions, and no one of them has 
preeminent power. The Imperialism of Capital, in our 
time, stretches the arms of its power over the whole earth: 
it alone sways the nations with preeminent rule. It buys 
all the products of the earth: it fixes all prices of all 
commodities without regard to the law of supply and de¬ 
mand, by its own arbitrary will. It is Imperial over in¬ 
dustry and trade, and none can resist it. It is rapidly 
progressing toward its ultimate aim, of possessing itself of 
all the world’s wealth and all the world’s property. If 



discovery ok its Existence. 


9 


things remain as they are, these Jew Money Kings will, at 
no distant day, have achieved their aim, and will own the 
earth in fee simple. 

2 nd. Discovery of Existence of Money Power. 

The world will be surprised at the statement that such 
a grand Imperialism of Capital exists. For it has grown 
up so silently, and has veiled its operations in such se¬ 
crecy, that its very existence is unsuspected. The Author 
was as ignorant of the Money Power as all the rest of 
the world outside of the ring, until, when visiting England 
many years ago, he, through a combination of circum¬ 
stances unnecessary to mention here, became acquainted 
with the existence of this grand centralization of Capital 
in England, and was given a pamphlet that was intended 
for private circulation. This pamphlet, and the boastful 
statements of the Englishman who gave it, imparted to 
the Author information which is carefully kept from the 
general public. Quotations will be made from this pam¬ 
phlet later on in this work. No confidence is thereby vi¬ 
olated, and its statements ought to be known to the world. 

Thus informed of the existence of the Money Power, the 
Author has watched its progress for over twenty years. As 
events occurred, his mind, strongly magnetized, as it were, 
by this subject, seized upon and gathered to itself all facts 
bearing upon the question. A newspaper item, meaning¬ 
less to others, was to him an important historical fact in 
the rise and growth of the Money Power. He has thus, 
point by point, gathered the materials for the sketch which 
here follows. 

Before quoting from the pamphlet just mentioned, it will 
be better, in order to give consecutiveness to the subject, 
to first trace the rise of the Money Power; and then to 
make quotations, to show that it was already a grand Im¬ 
perialism in the decade extending from i860 to 1S70. 



10 


RISE OF THE MONEY POWER. 


II. FIRST ERA IN THE RISE OF THE MONEY POWER. 

The Money Power of the World had origin in small be¬ 
ginnings, in the 18th century; but it has reached its grand 
development in our own age. It had its origin in the Brit¬ 
ish East India Company, and has grown up so quietly that 
its grand centralization has not attracted the attention of 
mankind. Indeed, it has only become powerful enough 
in our own age, to produce startling effects upon the in¬ 
dustry of the world. 

In the ages before the invention of the steam engine, 
the chief commerce of the world consisted in the inter¬ 
change between the Temperate zone and the Tropics. 
There was but little interchange between the different 
countries of the Temperate zone; for all having the same 
climate and agricultural productions, each country pro¬ 
duced sufficient for its own consumption; and, all manu¬ 
factures being wrought by hand, each country had enough 
manufactures for the supply of its own needs, except a few 
articles of luxurious consumption. The chief commerce of 
the -world consisted in the exchange of some of the prod¬ 
ucts of the Temperate zone, especially specie, for articles 
of luxurious consumption, sugar, tea, coffee, indigo, opi¬ 
um, and the spices, contributed by the Tropics to the com¬ 
merce of the world. 

This commerce has always enriched the nation which 
carried it on, and made its merchants the great commer¬ 
cial magnates of the earth. 

In Ancient Times, the Phoenicians possessed it for two 
thousand years, and it made them the great merchants of 
the earth. The share of Egypt in the traffic gave to that 
country its great wealth in the early eras of the monarchy. 
In the age of Solomon, the Jews possessed the Eastern end 
of the traffic for a generation, and it so enriched them that 
silver was in Jerusalem as stones. The development of 



THE EAST INDIA TRADE. 


II 


this commerce was the sphere in which was displayed the 
proverbial wisdom of Solomon, and it constituted the chief 
glory of his reign. 

The power of the Assyrian Empire was largely based 
upon the possession of the Eastern end of this commerce; 
the conquests of the Empire along the Mediterranean, hav¬ 
ing broken up the old line of the trade by way of the Red 
sea. 

To obtain possession of this commerce was the aim of 
the conquests of Nebuchadnezzar, the founder of the Bab¬ 
ylonian Empire. He carried the traffic through Babylon, 
and up the Euphrates, across Syria and Asia Minor, and 
gave the Western end of the traffic to the Lydians and the 
Ionian Greeks. This was the origin of the proverbial 
wealth of Crcesus, which the Greeks, in their ignorance 
of the commercial relations of the East, attributed to the 
gold washed from the placer mines of the river Pactolus. 
The possession of the Western end of the trade, at this 
time, awakened the Greeks from the lethargy of barbarism, 
and started the race upon its grand career of civilization. 

The hostility of the Greeks to Persia, which caused the 
burning of Sardis, and led to the Persian wars, no doubt 
originated in the fact that Persia gave the traffic back to 
the Phoenicians, who restored it to its old route by way of 
the Red sea. 

After the Christian Era, the Venetians took posses¬ 
sion of the traffic and it made them the great merchant 
princes of the Middle Ages. 

The discovery of the passage around Cape Good Hope 
gave the traffic into the hands of the Portuguese, who kept 
it for a century. Then the Dutch, the French and the 
English organized trading companies which competed with 
each other for the possession of this great East India 
trade, now, since the passage around Cape Good Hope, 
swelled into much larger proportions than in former times. 



12 


RISE OK THE MONEY POWER. 


Britain was slow to engage in it, and during the Seven¬ 
teenth Century made only feeble efforts, productive of lit¬ 
tle result. In the early part of the Eighteenth Century, 
the British East India Company was reorganized and put 
in successful operation. In return for a loan of fifteen 
million dollars to the British government, a large sum for 
those days, it received a charter, giving to it the exclusive 
right to trade with all countries of the Indian and Pacific 
Oceans, between Cape Horn and Cape Good Hope. 

From this time the East India Company made rapid 
growth in prosperity and power. 

In the various wars of the Eighteenth Century between 
Great Britain and her commercial rivals on the Continent, 
the bull-dog pluck of the British sailors, and their superior 
nautical skill gave to British vessels so great an advantage 
in naval combats as secured to Britain a maritime su¬ 
premacy. The British East India Company prospered, 
not only by the usual gains of traffic, but also by taking 
possession of the trading stations of its commercial rivals 
from which they were dispossessed by conquest. 

In the great Seven Years’ War, continuing from 1757 
to 1764, Great Britain dispossessed France of all her co¬ 
lonial possessions. In India, at the same time, through 
the genius and energy of Clive, the British East India 
Company laid the foundation of its imperial greatness. 
Historical authorities date the rise of the East India 
Company to imperial power at the victory of Plassy, 1757 
A. D. In 1764, it was an empire exercising imperial sway 
in Bengal over a territory containing a population of forty 
millions, and yielding larger revenues than those of the 
Austrian empire, at that time the greatest European power. 

In 1764, the British East India Company was the grand¬ 
est and richest corporation in the world. It was the only 
corporation which ruled a territorial empire. It was en¬ 
riched by traffic, by the extension of its trade through the 


RISE OF THE EAST INDIA COMPANY. 


'3 


conquest of the trading stations of its Continental rivals,' 
and by the wholesale plunder of India. 

It had been from the first the best investment of capital 
to be found in the British Islands. Its stock was eagerly 
taken by all who had the means. The mercantile class 
took as much stock as they could afford; but, as we know, 
merchants usually have little more capita] than they need 
for their regular business. The British Landed Aristoc¬ 
racy had large incomes from their estates; and being under 
a necessity of seeking the best investments, in order to 
portion their younger children, they made large invest¬ 
ments in the East India Company. But the great Capital¬ 
ists of that age were the Jews. They were the money 
holders. They subscribed largely to the stock; and as, in 
each generation, the stock of the Aristocracy was sold to 
portion younger children, the Jews, always economical, 
always full of money, and always in search of the best 
investments, bought the stock thrown upon the market. 
Thus it came to pass that the greater part of the stock of 
the East India Company, and of the other companies 
afterwards organized out of the dividends of that great 
company, fell into the hands of the Jews. The Jews be¬ 
came the great Money Kings of the world. 

Under the impulse of Jew exactions, the career of the 
East India Company in India was a continued series of 
trickery, wrong, exaction, theft, robbery and murder. In 
the Eighteenth Century, the Mogul empire was in the last 
stages of decay; and the East India Company, in its deal¬ 
ings with the native states and Princes of India, constantly 
shifted its ground as expediency required, sometimes treat¬ 
ing them as independent states, and sometimes, as depend¬ 
encies of the Mogul empire. It hired its soldiers to one 
native prince, to enable him to conquer another: it sold 
its favors on every side; and when the opportunity came, it 
devoured the treasures and the territory of friends and foes 


14 


RISE OF THE MONEY POWER. 


alike. History presents no career of conquest, in which 
fraud, deceit and rapine were so blended as in the con¬ 
quest of India by the East India Company. It was the 
first example in the history of the world of a trading cor¬ 
poration becoming an imperial power; and its imperial 
rule was marked by the rapacity, chicane and fraud that 
characterizes a great corporation in the soulless and con¬ 
scienceless pursuit of gain. 

From 1764, the East India Company had control of the 
grand trade between the Temperate zone and the Trop¬ 
ics. It continued its conquests in India until, in 1857, 
the date of the Sepoy mutiny, it ruled almost the whole 
peninsula. The Money Kings who controlled it, possessed 
an empire compared with which the possessions of the 
Phoenicians and Carthaginians, and all their predecessors 
were as nothing, and they attained a domination over in¬ 
dustry and trade without a parallel in the annals of the 
world. 


Chapter II. 

RISE OF THE MONEY POWER, Continued: 

SECOND ERA. 

The Money Power of the World entered upon a new 
and grander era of development when steam was applied 
to manufactures. In 1774, Watt perfected the steam en¬ 
gine ; and this new servant of man, mightier than the Ge¬ 
nii of oriental fable, was at once set at work propelling 
manufactures. The power loom, the spinning Jenny and 
the cotton gin were soon aftenvard invented, and gave a 
great impulse to steam manufacturing industry. 

The conditions of the time threw steam manufactures en¬ 
tirely into the hands of the London Money Power. Great 



STF.AM MANUFACTURES. 15 

Britain was the only country in Europe which had coal 
and iron for steam purposes. The capitalists of the East 
India Company were the only people in the world with 
capital to engage in the new industry; for the great trad¬ 
ing companies of other countries had been broken down 
by British conquests. Enriched by the trade of the Ori¬ 
ent and the Tropics, these London capitalists at once 
seized the opportunity events offered them, and embarked 
energetically in steam manufactures. 

The East India Company, as such, did not engage in 
these manufactures. All the stockholders would not wish 
to invest in them: so large a corporation would be un¬ 
wieldy; and the immensity of the monopoly might excite 
alarm and provoke opposition. It would be much better 
to operate through smaller corporations. A few capitalists 
might hold the stock of a great number of them without 
exciting jealousy; and their management would be quiet 
and easy. The different corporations were like the regi¬ 
ments of an army: it was easy to form them into brigades, 
and divisions, and army corps, so as to give them the 
compact solidity of a grand military organization. It had 
the flexibility of individual enterprise, and the solidity of 
a despotism. The Money Kings adopted the policy of 
single corporate companies for each special enterprise. 

They built manufactories of all kinds: they started iron 
mills, woolen mills, cotton mills. Manufactures of all 
kinds sprung up on every side. The Money Kings or¬ 
ganized new joint stock corporations which built mills and 
manufactories: new companies which operated mines of 
coal and iron: and, as commerce wonderfully expanded 
through manufactures wrought by steam power, they or¬ 
ganized new companies, which built vessels to plow the 
waters of every ocean, and built new warehouses, and 
established new' trading stations all over the earth. 

Commerce had languished in previous ages, because the 



l6 RISE OF THE MONEY POWER. 

Temperate zone had not sufficient cheap products suited 
to tropical demand, to offer in exchange for tropical pro¬ 
ductions. Steam manufactures opened up a new com¬ 
mercial era. They greatly stimulated tropical produc¬ 
tion, by offering manufactures in those markets. They 
also greatly stimulated industry in the Temperate zone. 
In all the countries of the Temperate zone, the demand 
for the manufactures of Britain was far beyond the ability 
to pay for them with exports. 

The first effect of this state of things was a wave of ex¬ 
citement that swept over Great Britain. An industrial boom 
was started. Everybody who had money invested in the 
stock of manufacturing companies, shipping companies, 
trading companies. In companies for steam manufactures, 
the Money Kings took care to have the majority of stock: 
outside companies they knew they could devour at their 
leisure. The grand Money Kings had such advantages in 
their immense capital and in their perfect organization, 
that in commercial crises, often originated, and always 
manipulated by them, they managed systematically to 
break down rival companies, and buy them out, and to 
rob and plunder the minority stockholders; until, in the 
end, these organized capitalists got into their own hands 
and very cheap, all, or the greater part of the stock of the 
various companies, manufacturing, mercantile and ship¬ 
ping, that originated in steam manufactures. They thus 
reduced to a system and a science the art of crushing 
rival companies, and freezing out minority stockholders. 
Their whole career was a systematic course of treachery, 
fraud and plunder, without a parallel in history. They 
advanced step by step, always causing a boom in every 
new enterprise that enlisted much outside capital, and 
always managing to operate seasons of business disaster, 
in which they lost a few hundred thousands by falling 
prices, a loss which they were abundantly able to stand, 



DEALING IN FUTURES THEIR DRAG NET, 1 7 

while making many millions by getting cheap the stock of 
broken corporations and the stock sold by minority stock¬ 
holders. 

Dealing in futures in Boards of Trade, was then 
started on a grand scale, a system originated for the pur¬ 
pose of enabling large capitalists to force stocks up or 
down as they choose, by dint of capital, without any 
regard to the actual value—the most satanic engine of 
trickery, fraud and oppression ever devised to enable the 
strong to plunder the weak. It is the drag net with 
which the Money Kings destroy multitudes of men of 
small means, as the fisherman takes fish in his seine. 
They are fishermen: the rest of mankind are their prey. 
They are always seeking after spoil. They are always 
dragging their net for the destruction of the unwary. 

But aside from this plunder of the weak and the trust¬ 
ing, the regular profits of the new age of industry were 
very large. In every country of the Temperate zone, the 
demand for British manufactures was much greater than 
could be paid for by exports. And the difference in the 
balance of trade was always systematically arranged by 
lending money on mortgage for that amount, or by spend¬ 
ing the amount of the deficit in starting some business 
enterprise in that country. In this way, the adverse 
balance of trade was not felt by the country falling 
behind. It bought all it wanted, and the adverse balance 
of trade actually made times better; for it caused the 
profits of the Money Kings to be invested in the country, 
stimulating business into activity. It only had the disad¬ 
vantage that the business investment did not belong to the 
nation, but to the Money Kings: and the prosperity it 
caused was not national prosperity, but was the bloated 
gains of the Money Kings. 

This has been the regular method of the Money Kings 
for the last hundred years. Starting new manufactures, 



18 RISE OF THF. MONEY POWER. 

new shipping companies, new trading companies: getting 
in all the outside capital possible, and then freezing out 
minority stockholders, and throttling outside corporations : 
getting all the nations in debt to them, and making para¬ 
site investments to the amount of the deficit of the balance 
of trade: putting in the profits derive'd from the East India 
Company, first : and then, not only putting in its profits, 
but continually reinvesting all the profits of all-their enter¬ 
prises in the country; until their investments, accumulating 
like a rolling ball of snow, at last become an avalanche to 
bury beneath its weight the prosperity of the world. 

The Rothschii.d Syndicate. 

Even in the beginning of this second era of the growth 
of the Money Power, it realized immense profits—profits 
so great as enabled the Money Kings to loan the money 
necessary on both sides to sustain the immense armaments 
of the wars of the French revolution. They let the Brit¬ 
ish government and the powers warring against France 
have all the money they required; and they supplied to 
Napoleon and his allies the loans necessary for his cam¬ 
paigns. 

At that time, for the convenience of the Money Kings, 
the great house of Rothschild was established. The rise 
of the house of Rothschild has always been shrouded in 
the mystery that veils all the operations of the Money 
Power. The house took immense contracts on both sides; 
and made to both sides immense loans. Where the money 
came from has always been a mystery. The common ex¬ 
planation given of it is wholly inadequate to account for 
the sudden rise of the house of Rothschild into such enor¬ 
mous wealth. The only way to account for it is to sup¬ 
pose that the Rothschild family was chosen by the Jew 
Money Kings as the head and fiscal agency of a grand 



THE ROTHSCHILD SYNDICATE. 19 

Jewish syndicate formed at that time, to concentrate un¬ 
der one management the money of the Jew capitalists. 

It was a great convenience, and a great source of power. 
The Rothschilds were chosen, perhaps, in part, on ac¬ 
count of their superior business qualifications; and per¬ 
haps, in part, because there were three brothers, who 
could be heads of separate banking houses in London, 
and Paris and Vienna. By such a syndicate the Jews 
could lend money and take army contracts on both sides. 
And if, in the end, one side should achieve a decided tri¬ 
umph, the Rothschild on the winning side could save the 
Rothschild on the losing side, and thus the money of the 
Jews would be safe in any event. It was a grand stroke 
of Jewish skill and policy, the organization of this grand 
’syndicate; but it was the first instance of the organization 
of a syndicate in the world; and it was never known as 
such; but, with the usual readiness of mankind to believe 
in the sudden growth of vast fortunes from nothing, the 
world accepted the rise of the house of Rothschild as an 
individual fortune, and not a syndicate. In our time, 
when combination of capital into syndicates is common, 
the house would be recognized at once as the head of a 
syndicate. The rise of the house of Rothschild is memo¬ 
rable as the first grand combination of the Jews in a syn¬ 
dicate, for the transaction of a vast business in which all 
their capital might be combined. The Rothschilds be¬ 
came the head of the Jew Money Kings, and have ever 
since been the head of the Jews, acting as a syndicate. 
That house is probably at the head of the Jew Money 
Power of the world. 

When Napoleon fell, there remained but one grand im¬ 
perialism in the world,—the Imperialism of Capital,—the 
Jew Money Power, centered in the Money Quarter of 
London. Since the fall of Napoleon, the nations of 
Europe have been maintaining war military establishments 



20 


RISE OF THE MONEY POWER. 


in time of peace, at an expense far beyond their revenues. 
The London Money Kings have loaned them the money 
to make up the annual deficit. They have invested in 
national debts alone about twenty-six billion dollars. Be¬ 
sides these national debts, are the loans they have made 
to states, and counties, and municipalities, and corpora¬ 
tions and individuals, amounting in the aggregate, as it is 
estimated, to over fifty billion dollars more. 

And then, there are the immense amounts of their own 
investments in all the countries of the globe. The wealth 
of the Money Power is simply beyond calculation. It can 
not amount to less than $160,000,000,000. It is probably 
nearer two hundred billions. 


Chapter III. 

RISE OF THE MONEY POWER, Continued: 

THIRD ERA. 

The Money Power entered upon the third era of its 
growth with the application of steam to transportation in 
railroads and steamships. 

The Railroad Era began about 1830; but for twenty 
years after steam was applied to railroads, industry lan¬ 
guished throughout all countries of the Temperate zone, 
for want of sufficient money to transact the business of 
the world. But little progress was made in applying steam 
to transportation, until the mines of California first, and 
then the mines of Australia, and the Rocky Mountains, 
and old and new mines opened in Mexico and South 
America gave hundreds of millions of dollars to the cir¬ 
culating medium of the world. In 1850, the age of rail¬ 
road and steamship building began on a large scale. Then 




EAST INDIA COMPANY SUPERSEDED. 2 1 

the Money Power was fully embarked in this third era of 
its development. 

The Supremacy of the Money Power over In¬ 
dustry, beginning with the application of steam to man¬ 
ufactures, was continued on a still higher plane of power, 
from 1850 and onward. 

The new companies organized out of the dividends of 
the East India Company soon threw the old parent com¬ 
pany into the shade by their gigantic enterprises. The 
experience of these new corporations seems to have con¬ 
vinced the Money Kings that the territorial sovereignty 
of the East India Company was a mistake. They found 
by experience that it was better for them to monopolize 
industry, commerce and wealth under the protection of 
a government controlled by them, than to exercise territo¬ 
rial sovereignty themselves. These new corporations be¬ 
gan to trade with India, as with the rest of the world. 

The East India Company, having no manufactures, was 
eclipsed as a trading corporation by these new rivals; 
and it soon came to restrict itself more and more to its 
territorial sovereignty. The Money Kings soon found 
that the new corporations were much better instruments 
for traffic, and they eventually made the East India Com¬ 
pany merely -their shield in India, behind whose pro¬ 
tection they carried on their traffic. That company gov¬ 
erned India entirely in their interest; for the same stock¬ 
holders operated the East India Company and the new 
corporations born of the new age of steam industry. 

They finally found the East India Company a burden, 
and an embarrassment. They derived the same advantage 
from the protection of the British government as from 
the Company, and without the cost and trouble. And 
moreover, bonuses and other advantages given them by 
the British government were safe and sure, while ad¬ 
vantages and franchises given them by the East India 



22 


RISE OF THE MONEY POWER. 


Company might be subsequently annulled as unauthorized 
and fraudulent. To get rid of the expense and danger 
of maintaining the sovereignty of India, they, at the time 
of the Sepoy mutiny, influenced the British government 
to assume the government of India:—and the East India 
Company, having served its end in giving birth to those 
new corporations born of its profits, passed away. The 
spider’s brood, true to their nature, devoured their dam. 

The Money Kings Greatly Enlarged Their 
Operations in the new age of steam transportation. 
They constantly invested their gains in more manu¬ 
factures, more ships, and more ware-houses, all over the 
earth. And when they made more profits than were 
needed for such investments—for their profits grew faster 
than the wants of commerce—they invested their surplus 
profits in various countries, in lands, in city houses, in 
building new railroads; and in buying vast bodies of lands 
in the Tropics, on which they opened up immense plan¬ 
tations, for the growth of coffee, tea, indigo, rice, opium, 
spices, and all tropical productions. 

They started new enterprises owned by themselves in 
all the countries of the globe :—tea plantations in China; 
coffee plantations in Java and Ceylon; sheep ranches in 
Australia and South Africa and South America; sugar 
plantations in the West Indies and the Sandwich Islands; 
gold and silver mines in California, the Rocky Mountains, 
Australia, Mexico, and South America; diamond mines 
in India, and South Africa and Brazil; ruby mines in 
Burmah; lumber mills in Canada, the United States, 
Norway, Sweden and Poland; city buildings in all 
countries; and railroads all over the world. These, and 
many other enterprises employed the boundless capital of 
the London Money Kings. 

City Buildings have been a favorite investment 
with them in countries of the Temperate zone. They derive 



CITY PROPERTY AND RAILROAD INVESTMENTS. 23 

two advantages from these investments: the buildings 
yield a high profit on the investment; and the Money 
Kings could thus put up rents in other countries, and in¬ 
crease the cost of living. This last point is an essential 
part of their industrial system. 

In order to maintain the manufacturing supremacy 
of Great Britain, it is necessary that the cost of living 
should be as cheap there as in other countries. The price 
of food is necessarily higher in England than in other 
countries; and this has to be counterbalanced by cheaper 
rents. Rents are very low in England. By owning 
many buildings in foreign countries, the Money Kings are 
able to start a prevailing high standard of rents; which 
increases their profit on their investment, and raises the 
cost of living, till it is as high or higher, in other countries, 
than in England. Furthermore, these high rents increase 
the value of property, and start foreign capita! into real 
estate speculation, leaving to the Money Kings the safe 
field of productive industry. — They are wonderfully 
shrewd, and understand perfectly all the points that 
benefit their interest, and injure the interest of the rest of 
the world. 

Railroads are Their Favorite Investment in 
countries of the Temperate zone. The ownership of them 
not only yields a large return upon the investment, but it 
gives to the Money Kings entire control of the internal 
traffic of the countries whose railroads they own. It also 
enables them to build up cities at points on the railroads 
known beforehand to themselves; so that, by getting 
possession of the land around the site, they make 
hundreds of millions of dollars in speculations in town lots. 

With incomes derived from all these various sources, 
and constantly reinvested—with the whole world tributary 
to them—it is not wonderful that they have grown so rich. 
Having taken possession of all the lines of business in 



24 


RISE OF THE MONEY POWER. 


which money is to be made, it is no wonder that, for forty 
years, they have been the only people in the world who 
had a monied capital. No wonder that, continually im¬ 
poverished by them, the nations of the earth have never 
had money to build railroads, or water works, or gas 
works, or any public buildings, but had always to issue 
bonds and sell them in London, to get money for all 
public improvements. 

In the age of railroads, these Jew capitalists grew exceed¬ 
ing rich. At the beginning of the Era of Railroad Build¬ 
ing, in 1850, no country had any capital, these London 
Money Kings excepted. The Money Kings alone of all 
the world had money; and they have taken special care, 
during the whole era, to make the world continually 
poorer by constantly increasing its debt to them. 


Chapter IV. 

FOURTH ERA.—DEVOURINGS OF MONEY 
POWER, SINCE 1864 : 

I. AGGRANDIZEMENT OF MONEY POWER: GENERAL 
VIEW. 

The Money Power has been continually widening its 
operations in each successive era of its rise. The first era 
was the era of the East India Company; and of commerce 
based upon tropical products, and the exchange of those 
products for the productions and the specie of the 
countries of the Temperate zone. In the second era, the 
Money Power added steam manufactures to the trade with 
the Tropics, which it previously held. In the third era of 
its rise, the Money Power added to its previous sources of 



COILING ABOUT ALL INDUSTRY. 25 

wealth the vast power derived from the possession of 
steam transportation, in railroads and steamships. 

The Fourth Era of the rise of this terrible Imperial¬ 
ism began in 1864. In this era, armed with the immense 
capital derived from all its sources of rvealth, the Money 
Power of the World entered upon its vast investments in 
mortgages in real estate; and began its career of monopoliz¬ 
ing, at a stroke, whole branches of industry and vast lines 
of trade. This era will end, if things go on as they are, in 
the Money Power taking possession of all business, and 
owning all the property of the earth. 

Since 1864, the London Jew Money Kings have been 
continuing their operations on the basis of boundless capi¬ 
tal. They have, in this era, vastly extended their opera¬ 
tions, and widened the range of their monopolies. Their 
command of capital is so vast, that they dominate the 
whole sphere of industry and trade with absolute sway. 
As against individual enterprises, their power is irre¬ 
sistible. 

Like a Great Serpent, the London Money Power is, in 
our time, enveloping the industry of the earth in the coils 
of its capital, and crushing all competitors in its folds and 
devouring them. And it has grown so great, and its 
monopoly of business is so enormous, that its annual 
income,—from interest on loans—from rents of houses and 
farms—from profits of business,—is so vast, that it is able 
to take possession of a whole line of business at once, 
destroying all competitors. Woe to the men who are 
operating in a line of business which these Money Kings 
desire to monopolize: they at once envelop the feeble 
rivals in the folds of their capital, and crush and devour 
them. They now have sufficient capital to seize upon 
and monopolize all the business of the earth. And they 
are rapidly doing it. 



26 


RISE OF THE MONEY POWER. 


Parasite Investments. 

Indeed, their capital is now so vast that business oper¬ 
ations will not afford it adequate employment. They can 
no longer find adequate investment for their constantly 
increasing income,—in extending their grand industrial 
enterprises—in loans to nations, states, and municipali¬ 
ties,—in building ships and warehouses and railroads. 
They can only find investment,—in building cities—in 
buying up city property—in purchasing and improving 
immense bodies of wild lands—in laying and foreclosing 
mortgages upon improved farms—and in buying up 
breweries, and flour mills, and lumber mills, and various 
business interests, all over the earth. They own almost 
all those business interests now: they will soon own 
the rest. 

These parasite investments of the Money Kings 
are like the fly eggs laid in the nose of the sheep: it is an 
addition to the amount of bioplasm in the sheep, but, 
instead of being sheep bioplasm, it is foreign. The eggs 
will hatch; and instead of the new life adding to the 
health and vigor of the sheep, it consumes its life. The 
worms that breed from the eggs burrow into the head, 
and if they can not be gotten rid of, the sure result is 
the death of the sheep.—In the same way, the ox fly lays 
eggs in the back of the ox, that breed worms; which, in 
their development, make the ox as lively as the invest¬ 
ments of the Money Power make the nation where its 
investments are made. But instead of helping the ox, 
they feed upon his life: they fever him: and if there are 
so many of these “wolves,” as farmers call them, that 
the ox cannot bear the frenzy caused by their develop¬ 
ment, the ox will die. 

But all these parasites, when full grown, do not continue 
to prey upon the animal whose life tissues have nursed 



DEVOURINGS IN INDIA. 


27 


them into growth. When full grown, they, fortunately for 
the animal, strive to leave the body on which they have 
preyed. But it is not so with the investments of the 
Money Kings. They keep planting more and more of 
their eggs in the body of all the nations; and, when the 
eggs hatch into parasite enterprises, the parasite enter¬ 
prises continue to prey upon the country, until at last they 
will sap its strength, and devour its life. 

These parasite enterprises of the London Money 
Kings are like the fly eggs deposited in the body of a cater¬ 
pillar. If no egg is deposited, the caterpillar spins its co¬ 
coon, and at the proper time emerges as a butterfly. But 
when the fatal egg is deposited, the caterpillar lives on and 
spins its cocoon, as if in perfect health; but the parasite de¬ 
velops, and continues its work of destruction, and the cater¬ 
pillar, instead of emerging from its chrysalis state, dies in 
its cocoon with its vitals utterly devoured.—This is what the 
Money Kings are now doing for all the nations. They 
are laying parasite eggs of capital in the body of every 
nation. Either the parasite must be gotten rid of, or the 
nations will perish. 

II. DEVOURINGS OF THE MONEY ROWER IN INDIA. 

The Money Power of the World was nursed into impe¬ 
rial grandeur by the trade and wealth of India. India 
was its primal seat of dominion. In India, its power has 
always been uncontrolled and absolute. There, it has 
been allowed to work its will more thoroughly than any¬ 
where else; and in India we can best perceive the ulti¬ 
mate outcome of its policy. 

1st. Plunder of Hindoo Potentates. 

Until the middle of the Eighteenth Century, the East 
India Company was only a mercantile corporation, hav- 



28 


RISE OF THE MONEY POWER. 


ing a few trading stations in India, and deriving its reve¬ 
nues from traffic. Rising into political power through 
the courage and genius of Clive, it began its career as 
devourer, in India, by extorting the hoarded wealth of 
one Hindoo potentate after another, as the price of its aid 
or its tolerance; and as the native rulers were successively 
reduced to bankruptcy and impotence in the crushing coil 
of the East India Company, that corporation gradually 
substituted its own administration for that of the native 
governments. In every advance, it showed the subtlety, 
the crawling insidious guile of the serpent. It enveloped 
state after state in its coil, and crushed the native govern¬ 
ments so relentlessly, and yet so quietly, that when it 
finally devoured the territory of a fallen potentate, the act 
attracted but little attention. The East India Company 
continued its course of quiet gradual appropriation of ter¬ 
ritory for a century, until the Sepoy revolt in 1857. 

2nd. Monopoly of Industry. 

In the earlier period of its power, the East India Com¬ 
pany took possession of all the trade and industry of the 
territories under its sway. But after the Age of Steam 
began, and the great British capitalists formed new joint 
stock corporations through which to carry on the grand 
industries arising out of steam manufactures, the East 
India Company lost its importance as a trading corpora¬ 
tion. As we have seen, it finally restricted itself to its 
territorial sovereignty, and gave up to the new corpora¬ 
tions the trade of India, giving them every advantage 
under its administration. 

Under this policy, the new corporations of the London 
Money Kings, advancing step by step, took possession of 
the business industries of India. 

They first took possession of the internal traffic and the 
foreign commerce of the country. They bought the native 



STARVATION OF HINDOO POPULATION. 29 

products at prices which yielded the wretched Hindoo 
producers a mere subsistence; and they sold in the India 
markets native products and foreign merchandise at the 
highest prices it was possible to.extort. They made all 
the profits; and the entire population of India, except the 
officers and the agents of the Money Kings, was reduced 
to utter penury. 

They continued their encroachments, and gradually got 
the industry of the country completely under their control. 
They superseded the old hand manufactures of the 
country by manufactures wrought by steam, of which these 
capitalists have entire possession and reap all the profits. 
And they broke down the old system of transportation, 
and substituted it by railroads owned by themselves. 

For a long time, the Money Kings raised opium, and 
indigo, and cotton, and rice and other India products, 
for their commerce, upon lands owned by Hindoos. 
They made their profit by putting down prices to the 
lowest point that would yield subsistence to the Hindoo 
laborer. They thus kept the Hindoo population on the 
verge of starvation; so that, during the last forty years, 
frequent famines have carried off millions of the popula¬ 
tion. 

We know from the Irish famines, that a modern famine 
is not a dearth of food, so much as the lack of means to 
buy bread. During one of the famines in Ireland, an 
American vessel entering the harbor of Cork with provisions 
sent by American charity to the starving Irish, met two 
vessels sailing out of the harbor laden with food sent from 
Ireland to a foreign market. The millions of Hindoos 
who have perished of hunger, during the last forty years, 
were the victims of the Money Power putting down prices 
of labor, and putting up the price of commodities. 



JO RISE OF THF, MONEV POWER. 

3rd. Jungle Plantations. 

But in the latter era of the growth of the Money Power, 
since the application of steam to transportation, the 
Money Kings have realized such vast profi.s from their 
world-wide manufactures and commerce, that they have 
made immense land investments in India. Vast areas of 
alluvial lands along the plains of the Ganges and the 
Bramapootra rivers have for ages been covered with the 
primitive jungle. Much of it is delta lands along the 
streams; much of it, broad alluvial plains and uplands, 
stretching from the sea to the foot of the Himalaya 
Mountains. 

The Money Kings induced the government to offer 
these jungle lands at a very low price, and those im- 
, perial capitalists bought them. They next wished to 
populate these jungle lands with a race of Hindoo serfs 
■who would till the soil for wages barely sufficient for 
subsistence. They offered the Hindoos the alternative 
of emigration to the jungles in their employment, or of 
starvation in their village homes. 

Some Five Million Hindoos Died of Famine 
before they submitted. But the Money Kings triumphed; 
transplanted the Hindoos; and opened up grand plan¬ 
tations in the jungle. They built railroads; founded 
cities; and now they own cities, railroads and planta¬ 
tions. They own in fee simple a vast empire in India,— 
an empire of alluvial lands, more extensive than the 
ancient empires of Nineveh and Babylon in the valleys 
of the Euphrates and the Tigris—far more extensive 
than the Egyptian empire in the valley of the Nile— 
larger than Greece and Macedon combined—wider in 
extent than Italy—a broader domain than the whole of 
Great Britain. They find it cheaper to own the land and 
hire peasants to cultivate it, than to buy the products of 



MARKETS CRUSHED BY HINDOO PRODUCTS. ’ll 

free Hindoo labor. And in that wide empire of alluvial 
lands owned by them in fee simple, extending from the 
sea to the Himalayas, and from the heart of India into 
Burmah, those capitalists are now producing opium, and 
rice, and indigo, and cotton and india rubber, and quinine, 
and spices, and tea, and cotton and wheat. 

4th. All Markets Crushed by India Products. 

And they throw all these products of a teeming soil and 
pauper labor upon the markets of the world, making im¬ 
mense profits, and forcing down the price of productions 
all over the earth to the pauper standard of Hindoo la¬ 
bor. They are now publishing in our papers that they can 
grow wheat so cheaply upon their jungle lands, that, in 
competition with them, our Western farmers can only be 
allowed, in future, fifty cents a bushel for their wheat! 
Will not Omnipotent Justice blast such wrong doing?! 

By the Competition of their Hindoo Planta¬ 
tions, tilled with Hindoo Ryot labor at five cents a day, 
they force down the price of Carolina rice and Southern 
cotton to the same level. Raising products upon their 
own lands with Hindoo pauper labor—shipping their 
products upon their own railroads into their own seaport 
cities—and transporting them in their own ships to their 
own warehouses in every country—these Money Kings 
are able to crush down the prices of productions in every 
country, and force the people of all countries to sell their 
products at any price they choose to offer !! 

An Important Fact is learned from the course of 
the Money Power in India. The Money Kings find it 
more profitable to own lands and till them with pauper 
labor, than to buy the products reared by the free natives 
of the soil. They regard the purchase of cheap lands a 
good investment. They will doubtless continue the pur¬ 
chase of India lands, until they own all the lands of India, 



32 


RISE OF THE MONEY POWER. 


and all property of every kind, and the Hindoos become 
serfs, cultivating their lands, and filling positions in vari¬ 
ous departments of their service. 

How can it be otherwise ? Every department of in¬ 
dustry in that country, except agriculture in part, is in 
their hands. They have in possession every source of 
profit. They and their agents realize all the profits that 
are made: nobody else makes more than a subsistence. 
The Money Power has India enveloped in its coils. It 
is only a question of time when the Serpent will complete 
the devouring of all its lands and all its property. 


And we shall perceive as we proceed, that the Boa 
Constrictor has our country in almost the same condition 
as India. If things go on, in a few years more the 
Money Kings will own a wider empire of farming lands 
in the United States than in India; and the American 
fanner will be reduced to the condition of the Hindoo 
peasant laborer working for a few cents a day, or he may 
look on and see the lands he has lost cultivated by Chinese 
and Hindoos. We shall be reduced to the condition of 
slaves. There is a bottomless pit before us. The Money 
Power is preparing to plunge us into it. 




CONSTRICTION OK CURRENCY. 


33 


Chapter V. 

FOURTH ERA, Continued DEVOUR 1 NGS OF 
THE MONEY POWER IN THE U. S. 

Space will not admit of a full narration of the manner 
in which the Money Power is devouring industry and 
trade and wealth, throughout the world. While the head 
and the den of the Serpent are in England, its coils ex¬ 
tend all over the earth. It is everywhere ruining business 
men, and taking possession of their business and property. 
In Europe, in Asia, in Africa, in South America, in Mex¬ 
ico, in Canada, in Australia, and in the Islands of the sea, 
it is constantly pursuing its deadly business of monopo¬ 
lizing the industry, trade and wealth of the world, by ruin¬ 
ing people engaged in independent enterprise. But space 
will only admit of a statement, in part, of its devouring 
the industries of the United States. 

This Knot of London Jew Capitalists is having 
its way in the United States more completely than any¬ 
where else in the world, except India. In England, the 
Landed Aristocracy holds its own against the Money 
Power, in part, by the law of primogeniture, which enables 
it to maintain possession of the land, and much city prop¬ 
erty; and by the marriages of the sons of the landed ar¬ 
istocracy with the daughters of rich Englishmen associated 
with the Jew Money Kings and sharing their profits. 

But, in America, the Money Power has had free course 
to ravage and devour. 

I. THE MONEY POWER HAS KEPT OUR CURRENCY 
CONSTRICTED. 

The Money Kings have always had to have American 
products, as the basis of their trade with the population of 
Britain, and with the whole earth. They needed our 



34 


RISE OF THE MONEY POWER. 


cotton for their English manufactures: our wheat and 
pork, and beef, to feed their British operatives: our hops, 
and barley, for the manufacture of malt liquors, for 
British and foreign consumption: our fats, for the manu¬ 
facture of soaps; and our tobacco, for the British and 
foreign markets. Great Britain afforded them only coal, 
and iron and labor. American productions have consti¬ 
tuted the grand basis of their world-wide manufactures 
and commerce. 

It was, therefore, their interest to buy our products 
cheap; and, to that end, it was their interest to have in 
this country as low a scale of prices as possible. An 
effectual means of securing a low rate of prices for cotton, 
tobacco, wheat, cotton, cheese, and all our products, was 
to keep money scarce in this country, and its purchasing 
value very high. 

And during almost our entire existence as a nation, the 
scarcity of money which the Money Kings have caused 
has enabled them to keep down prices to the lowest point, 
and cause our people to suffer from chronic hard times. 

1st. The Crash of 1837. 

Our people once carried the idea that industry should 
be left to take care of itself, to the extreme of holding 
that the general Government should not supply currency 
to the country, but should leave it to be supplied by the 
states, and by individuals. Our currency was on a specie 
basis; and it was held that the proper proportion between 
specie and currency was, specie to the amount of one- 
third of the paper circulating medium, to be kept in the 
vaults of banks. 

This Abominable Currency System placed our 
currency, and the price of our products, completely 
under the control of the London Money Kings. For the 
Money Kings always had the balance of trade against us; 



CRASH OF 1837 . 


35 


and they always purposely kept us drained of specie, so 
that, on a specie basis of one-third of the circulation, we 
could maintain only a sparse currency. 

But, in 1836, our system of paper money was expanded 
to a point in some measure adequate to meet the business 
wants of the country. For the first time, our produce 
went up to a fair price, sufficient to give us prosperity. 
We then had a paper circulation of $136,000,000; cer¬ 
tainly not an inflated currency for the amount of our 
population and trade, being less than half the amount of 
currency per capita we had in 1870. 

But, we did not have Specie enough to maintain 
the one-third specie basis. The Money Kings had no 
idea of paying a fair price for the American produce they 
were obliged to have. It was increasing the value of our 
exports; and would soon enable 11s to pay with our pro¬ 
ducts for the imports we bought of them; and we should 
soon have been able to secure specie enough for a safe 
basis for our circulating medium. They wished to keep 
money scarce, and prices low; so as to compel us to sell 
them our products so cheap as to keep the balance of 
trade against us. By thus keeping us in debt to them, 
they could keep us drained of specie, and keep money 
scarce and prices low, perpetually. 

To this end, money must be made scarce, and times 
hard. The state banks were banking on a specie basis, 
and had not nearly specie enough to redeem their issues. 
It was only necessary for one prominent bank to fail, in 
order to cause a run on all the banks, and a suspension 
of specie payments; with a consequent contraction of the 
currency, scarcity of money and low prices, again. 

The Money Kings made a heavy draft for specie 
on New York. A prominent bank in New York failed, 
and the state banks all over the country went down like 
a house of cards. Contraction of the currency followed 



36 RISE OF THE MONEY POWER, 

at once. In 1842, five years after the panic, we had in 
the whole country only $64,000,000 of currency, being 
only a little over three dollars per capita of the popula¬ 
tion! It was horrible. A tide of bankruptcy without 
a precedent overswept the country. For thirteen years, 
from 1837 to 1850, scarcity of money continued, keep¬ 
ing our prosperity depressed, and making our prices low 
enough to satisfy the avarice of the London Money Kings, 
who got our wheat, and cotton, and pork and beef at any 
price they chose to offer. 

The astonishing folly of our people in allowing 
the Money Kings to put down prices in this country by 
means of a scarcity of currency will excite the wonder of 
a later and wiser age. These Money Kings never buy 
anything of us they can do without. They have always 
had to have a certain amount of our cotton, pork and 
beef and wheat and barley and hops. They can not do 
without them. If we sustain the price at a fair rate they 
will have to pay it. And yet, from 1837 to 1850, we 
allowed them, by draining us of specie, to contract our 
currency to three dollars per capita, and put our prices 
down to starvation rates! What lamentable ignorance 
of the principles of political economy! By allowing the 
Money Kings to keep our currency contracted, we al¬ 
lowed them to cheat us out of about $100,000,000 a year 
in die value of our exports—to get us deeper into debt to 
them every year, and to keep our people oppressed with 
direful poverty. Our fathers showed great unwisdom. 
Are their children wiser? 

Our produce had an actual value, which the 
Money Kings would have had to pay. But by basing 
our currency on specie, of which they could drain us, 
we kept our produce at an artificially low price. We thus 
lost every year a hundred million dollars by putting 
our products at an artificial price below their real value. 



CRASH OF 1857 . 


37 


The Money Kings are wise: they no doubt laughed in 
their sleeve at our simplicity in thus allowing a price to 
be fixed upon our products below their real value. 

The London Money Kings organized the crash 
of 1837. They drew on New York heavily for specie, 
just before the panic. The balance of trade is always 
against us and in their favor, and they could draw for 
specie as long and as heavily as they pleased. And they 
continued to draw specie, till the end they aimed at was 
accomplished, and the panic began. There can be no 
doubt that they did it with full intent to bring about the 
panic that followed. 


2nd. The Crash of 1857. 

There was no expansion of the currency after 1S37, till 
after the discovery of the gold mines of California. In 
1830, the state banks again began to expand, and once 
more we had fair prices for produce, and prosperous 
times. The expansion continued till 1857. There was 
no undue inflation. The currency was not in excess of 
the legitimate needs of business, and prices were not too 
high. 

But the currency was in excess of our capabil¬ 
ity of redeeming it in specie. All the gold taken out 
of the mines in California was sent direct to London, to 
pay, in part, the balance of trade against us. The Lon¬ 
don Money Kings took care that we should not have spe¬ 
cie enough to constitute a one-third basis for a currency 
adequate to the business wants of the country. They, 
having the power to regulate the amount of specie we 
were allowed to_ keep, did not choose to leave in the 
United States specie enough to furnish a basis for an 
amount of currency adequate to give us fair prices. 

The fall of a Trust Company Bank in Ohio, started a 
panic, and brought on a general crash of the state banks, 




97 



38 


RISE OF THE MONEY POWER. 


with the natural result of hard times, and a cheap mar¬ 
ket, in which the Money Kings could buy our produce 
at their own price. 

The Panic of 1857 Was, Beyond Question, En¬ 
gineered by the London Money Kings. They took es¬ 
pecial pains to get possession of the circulation of the 
Ohio Trust Company Bank, whose fall caused the panic, 
and they made extraordinary drafts upon it for specie, 
amounting to $5,000,000, so as to insure its fall. 

Of two things one is certain: Either the Money Kings 
owned the Trust Company Bank, so that they could get 
possession of its circulation at any time, and start the 
panic; or else they took especial pains to gather up its 
circulation, so that they might drain it of specie. From 
the name of the institution,—“Trust Company,”—in the 
light of our own times, when these Money Kings are 
starting “Trusts” all over the world, it seems most prob¬ 
able that the Trust Company Bank was established by the 
London Money Power for the express purpose of using it 
as an instrument to start the panic. 

In either case, they are pilloried before the eyes of our 
people, as making secret war upon our prosperity. It is 
like the secret underhanded methods of the Money Kings 
to start a bank in this country, in order to have it ready, 
at any moment they chose, to start a panic by its fall; on 
purpose to break down our prosperity, and give them a 
cheap market in which to purchase our products, neces¬ 
sary to their commercial system. 

The Boa Constrictor thus Kept Itself Coiled 
about our currency system, and it has constricted our 
currency every time it expanded sufficiently to give us fair 
prices. They have thus been able to buy our products 
at little more than half their value, cheating us in this 
manner out of hundreds of millions of dollars every year, 
and keeping us in poverty. By the low prices thus main- 


DEVOURING OF COMMERCIAL MARINE. 


39 


tained, the Money Power has kept the balance of trade 
hundreds of millions against us every year; and this ad¬ 
verse balance of trade has been kept even, by lending us 
money to build railroads, and to use in every form of 
public improvement; thus by its loans coiling around our 
industry and our property, and constantly devouring it. 

The Money Kings are public enemies, all the more 
dangerous because they work by such sly, secret under¬ 
mining methods. 

For forty years, from 1820 to i860, prices were kept 
down and times hard. Twice we were about to become 
prosperous, in 1836, and in 1856; when both times, the 
Money Kings promptly crushed our rising prosperity. In 
the forty years, from 1820 to i860, they cheated us, by 
these low prices, out of at least four billions of dollars— 
enough to have made us the richest and most prosperous 
people on the globe. 

One great Benefit of the Late War was, that it caused 
the Federal Government to furnish a currency that was 
not subject to collapse by the Money Kings withdrawing 
specie from the country. The Money Kings brought on 
the crash of 1873. But they could not do it by with¬ 
drawing specie. They w r ere under the necessity of resort¬ 
ing to other means. Before presenting the means by 
which the crash of 1873 was brought about, it will be 
better to bring up the account of their working in the 
country to that date, so that their operations upon the 
currency in 1873 may be better understood. 

II. THE MONEY POWER DEVOURED OUR 
COMMERCIAL MARINE. 

The War afforded the Money Power the opportunity to 
strike us a deadly blow, in taking possession of our mer¬ 
chant shipping. The means by v’hich they accomplished 
this was in perfect accord with their watchful craft and 



40 


RISE OF TfTE MONEY POWER. 


cunning. One of their ship building establishments built 
the steam cruisers which swept the seas, capturing many 
American vessels. Their depredations so raised the cost 
of marine insurance, that American vessels could no 
longer compete with those of Great Britain. Under such 
circumstances, American ship owners became willing to 
sell their ships. The Money Kings had gained so much 
money by their world-wide operations that, as soon as the 
vessels were offered for sale, they were ready to purchase 
them. In a few months the American ships were all 
purchased by the Money Kings, and'transfcrred from the 
American to the British flag. At one grand gulp the Boa 
Constrictor swallowed down the American navy. 

While we had our commercial marine, we received for 
our produce the ruling price in the foreign port: and the 
profits were divided between the American producer, the 
American merchant who exported the produce, and the 
American ship owner who carried it. But thenceforth, 
we only received the New York price : the Money Kings 
realized all the profits beyond our own shores. 

But this was too much for them to be willing for us to 
receive. They wished to get closer to the producer, and 
leave to our people as small a part of the price of our 
products as possible. Having driven us off the ocean, 
they now invaded our frontiers, resolved upon conquering 
and taking possession of every branch of industry in the 
country. The history of the encroachments of the Money 
Power upon our industries is one long tragedy. 

HI. THE MONEY POWER DESTROYED OUR NEW YORK 
MERCHANTS. 

The first step in the encroachments of the Money Power 
upon our national industries, was their overthrow of the 
great New York wholesale merchants. It began its move¬ 
ment against them immediately after the War. But it 



NEW YORK MERCHANTS DESTROYED. 


41 


proceeded to the accomplishment of its aim with such 
subtlety and craft, that our people have not known of the 
destruction of the grandest merchants in the country. 

I Only Found It Out in 1880, when I spent some 
time in New York city. The man at whose house I 
boarded told me one day in conversation that he had been 
rich, but had failed in business: he then obtained a sup¬ 
port by taking boarders. 

“Misery loves company,” said he; “and the only 
consolation I have is that all the tall trees of the forest 
fell, when I went down. “Why sir,” he continued, “ not 
more than three or four business men in New York, who 
were prominent in business before the War, are in business 
now. They all failed. Nobody knew what hurt them; 
but, from some cause, nobody knows what, business took 
new channels; their business left them; and they broke. 
How business changed in New York since the War,” 
he continued meditatively, “is incomprehensible to 
everybody.” 

Here was a grand effect; and I began to search out 
the cause. I was then familiar with the methods of the 
Money Kings. I had been watching their course for 
years in this country, and it was not difficult to find and 
follow their trail, on the war path against the New York 
merchants. 

A Still Hunt was started against the New York whole¬ 
sale merchants. The London Money Kings owned the 
English manufactures and the mercantile shipping houses. 
They started branch houses in New York—filled them with 
splendid stocks of goods—and then they started the 
English Drummer System in this country. The Drummer 
System was originated in England, over half a century 
ago, to accomplish the same purpose there against the 
old merchants of Great Britain, that was now wrought out 
by it in the United States. The Money Kings, by means 



42 RISE OF THE MONEY POWER. 

of it, drew all the trade of the country to their own New 
York branch houses. 

The Western and Southern merchants had been in the 
habit of visiting New York City, once or twice a year, to 
buy new stocks of goods. But now, the drummers of the 
Money King branch houses offered the Southern and 
Western merchants goods, by sample, of better quality, 
and at lower prices, than they could get them in New 
York. The old New York merchants waited for their 
customers to come. When, supplied by drummers, they 
quit coming, the old merchants, suppressed by English 
branch houses, failed, and retired from business. 

It would be an interesting investigation to discover to 
what extent the Money Kings subsidized the old mer¬ 
cantile houses of New York City in their campaign. It is 
usually their custom to get some of the business interests 
already established on their side—reorganize them with a 
vast capital—take a controlling interest of the stock of the 
new companies to themselves—but leave them under the 
old name, and the old management. It seems that they 
adopted this policy toward only a few of the mercantile 
houses of New York City. The few old houses that 
remained standing doubtless became the allies of the Money 
Power. But they seem to have made almost a clean sweep, 
substituting new houses for the old. 

In their conquest of the New York merchants, the 
Money Kings employed the tactics which they always use. 
As they availed themselves of their immense capital to put 
down prices on the New York merchants, so their method 
always is to put down prices on every business interest 
they assail. The unfailing sign of their assault on a business, 
is a putting down of prices in the business. 

The Money Kings Always Operate Through 
Joint Stock Corporations in order to conceal their 
operations. A company is started in mercantile or other 



MONEY POWER GETS POSSESSION OF RAILROADS. 43 

business by three or four persons associated in a joint stock, 
corporation. It can not be known but that those persons 
constitute the entire company. There is nothing to indi¬ 
cate that the stockholders are the London Money Kings, 
and that the company is operated on British capital. It 
seems to the public that it is an American firm. But if 
the Company books of one of these conquering Companies 
that break down old business interests could be inspected, 
it would be found that the stockholders who furnish its 
unlimited capital are in London. 

IV. THE MONEY POWER DEVOURED OUR RAILROADS. 

The secretive methods of the Money Power are no¬ 
where more fully displayed than in the manner in which 
it got possession of our railroads. 

The advantages of owning our railroads were so vast 
and so obvious, that the Money Power, having boundless 
wealth, could not fail to purchase them. 

1st. The Foundation of Their Ownership of Our 
Railroads 

was laid with consummate skill and craft. They took 
their first steps at the time of their construction. 

1. Many Lines, Like the Illinois Central, 

were avowedly built and run by London capitalists.- - 
Many lines of railroad were built by them in the West in 
consideration of land grants.—And many lines have been 
pushed by large railroad companies through new districts 
of country, for the sake of the trade to be obtained. 

2. The Money Kings Got the Other Roads 

by means of mortgages. The great Trunk Lines, and 
indeed, almost all the railroads east of the Mississippi, 



44 


RISE OF THE MONEY POWER. 


were built by the issue of bonds, and were ironed by the 
Money Kings for first mortgage bonds. The Money 
Kings always got possession of the roads under an arrange¬ 
ment of the mortgage. 

Some of us recollect, along in the 50’s, what hard work 
we had to build our railroads. We had no wealth: we 
had to build them with our poverty. We had no capital: 
we had to build them with debt. When two cities wished 
to link themselves with an iron girdle, they issued bonds 
to the extent of their credit: they induced all the counties 
along the line to issue bonds; and these bonds were always 
sold in London—the only place in the world where there 
■was any cash capital—in order to get money to build the 
road-bed. Sometimes it required several issues of bonds, 
with intervals of despondency, and even despair, before 
the road-bed was completed. When the road-bed, or a 
considerable part of it, was completed, it was well known 
that the London Money Kings would furnish the iron and 
rolling stock, at the rate of $10,000 a mile, secured on first 
mortgage bonds. 

I recollect that in 1855 to 1857, one of our cities was 
making tremendous efforts to build a railroad reaching 
toward a great business center. After two or three efforts 
made with intervals of deep despondency, over one 
hundred miles of the road-bed was at last completed; and 
one of the most distinguished citizens of the state was 
sent to London, to negotiate for the iron for the road. 
He succeeded in his object; but, being a man of enlarged 
views, he came back astounded. He said he found men 
from all over the world in London on the same business 
as himself: all wishing to get iron for railroads, at 
$10,000 a mile, secured on first mortgage bonds: and 
they all got the iron. He said, “These London capital¬ 
ists are sure to get the railroads for the first mortgage 
bonds; and no man can foresee the consequences. It 



MONEY POWER OWNS RAILROAPS. 45 

will certainly work a mighty change in the condition of 
the earth, when these capitalists get possession of all the 
land transportation of the world. No man can tell what 
the result will be. ” 

We are now seeing some of the evils which this states¬ 
man of a generation ago dimly foreshadowed. 

In this railroad financiering we have a fair specimen of 
the management of these Jew capitalists. When the rail¬ 
roads were first started, they made but little money. The 
system of operating them was as yet crude and imperfect; 
and the business that has since grown up along them, and 
made them profitable, was as yet in its infancy. As a 
rule, the Money Kings got possession of the railroads un¬ 
der some arrangement of the first mortgage bonds. 

The Money Kings are the owners of our rail¬ 
roads. It is known that the Erie railroad is owned by 
the great house of John Bidall Martin, in Lombard street, 
London. A mortgage was placed upon the Milwaukee 
and St. Paul, last July, for $150,000,000, which was taken 
in Lombard street, London. John Bidall Martin was the 
head of a syndicate w'hich foreclosed the mortgage on the 
Wabash railroad system, two years ago. 

A favorite method with these capitalists of holding rail¬ 
roads, is to have them bonded to them on mortgage secu¬ 
rity. They never pay for these bonds more than about 
forty-five per cent, of their face value. Whatever else 
goes unpaid, the interest on these bonds must be met, or 
the mortgage is foreclosed. The Roads are thus mort¬ 
gaged for their full value, and the owners of the bonds 
are really the owners of the railroads. The mortgage, 
together with some preferred stock on which interest is 
sometimes paid, absorbs the earnings of the road. The 
rest of the stock receives no dividends, and is of no actual 
value. The bond holders are practically the owners of 
the roads. It is only a question of time when the bond 



46 


RISE OF THE MONEY POWER. 


holders will take possession of their prey. They would 
do it at any time if the management of those who may 
hold the stock does not suit them. But the probability 
is that they keep in their hands a controlling interest of 
the stock, so as to secure the present control of the roads. 

In the second place, it is certain that 

2nd. If the Money Kings were ever in possession 

of the Railroads, they own them still. 

1. The Laws of Political Economy Prove 

that, if the London Money Kings ever got possession of 
the Railroads, they have them still. We could never have 
bought them back by any possibility, unless the Balance 
of Trade were in our favor. For, without such a favora¬ 
ble Balance of Trade, our people could never possibly 
have the means to buy the railroads back. But the Bal¬ 
ance of Trade has been steadily against us all the while. 
Hence, it is perfectly manifest that the railroads are still 
in the hands of the Money Power. This is as certain as 
any fact in the world of nature. For the laws of political 
economy are as fixed as the laws of nature. 

2. The History of the Money Power Proves 

that no Americans have ever bought back Railroads once 
in possession of the Money Kings. It is a fixed rule with 
the Money Kings never to take an interest in any busi¬ 
ness, without having a controlling interest in the stock; 
and having got a controlling interest in any enterprise, 
they work it, and never sell it. They are always buying 
property: They never sell;—except indeed, batches of 
stock, to gulls, in Wall street operations! If the Money 
Power ever got a controlling interest in American rail¬ 
roads, they never sold it out again, and no Americans 



“railroad kings” agents of money POWER. 47 

ever had in their own ownership the controlling interest 
in such American railroads. 

3. An Objection 

may be presented here, that many American railroads, 
and those the most valuable, are notoriously owned by 
Americans: that the Vanderbilts own the New York Cen¬ 
tral system—that Jay Gould owns a large system in his 
own right—that Tom Scott owned the Pennsylvania Cen¬ 
tral—that Garrett owns the Baltimore and Ohio—and that 
Huntingdon owns the Chesapeake and Ohio and its con¬ 
nections. 

This is a matter of such importance to the American 
people that it ought to be thoroughly sifted. These men 
have claimed to be the owners of these grand railroad 
systems;—but are they? Or are they merely the agents 
of the London Money Kings, holding the railroads in trust 
for them? 

3rd. Circumstantial Evidence that Amounts to 
Scientific Demonstration 

proves that these men are the agents of the London 
Money Kings. 

It is remarkable that very many peculiar facts have 
come to light about these railroad magnates, which prove 
that our American “railroad kings,” so-called, are only 
the agents of the London Money Kings. The proof is 
stronger than could be expected, when the Money Kings 
do everything in their power to conceal their ownership. 
They have always systematically concealed their track, so 
that no direct evidence of their ownership can be found. 
Their actions are always in the dark.—But a midnight 
murderer or a burglar can be convicted on circumstantial 
evidence. So, if the ownership of the railroads by the 



48 


RISE OF THF MONEY POWER. 


London Money Kings were a felony, there is sufficient 
proof to send them to state prison. 

1. Jay Gould an Agent for British Capitalists. 

A large number of facts prove this:— 

1) In 1873, Jay Gould and Jim Fisk were full partners 
in the ownership of the New York and Erie R. R.‘ 
Holding $23,000,000 of railroad stocks, they were thought 
to be worth over $11,000,000 each. They were full part¬ 
ners, and were supposed to be worth about the same 
amount. It is perfectly evident that Fisk and Gould were 
not the real owners of the Erie railroad. As the trail of a 
serpent can only be seen when the snake crosses a dusty 
road, so the track of the Money Kings can usually be seen 
only when it runs across the grave of an agent. The settle¬ 
ments made at death frequently show that the reputed 
millionaire was only an agent of the Money Kings. 

When F'isk was killed, in 1873, he, as has been stated, 
was thought to be w r orth $11,000,000, as he was holding 
that amount of railroad stock. But when his estate was 
wound up, his family received only a few thousand dol¬ 
lars. Thus the settlement of his estate after his death, 
showed conclusively that Fisk was only an agent, holding, 
in connection with Gould, the Erie railroad for the real 
stockholders in Great Britain. There can be no doubt 
that Jay Gould, his partner, was their agent also. 

Once finding Mr. Gould acting as the agent of the 
Money Kings, creates a strong presumption, that, in his 
subsequent operations, he is also the agent of European 
capitalists. But the case does not rest on mere presump¬ 
tion. It is perfectly certain that, in all his subsequent 
operations, Jay Gould has been only an agent of the 
London Money Kings, holding the railroads ostensively 
owned by him in trust for them. 



JAY GOULD AX AGENT OF MONEY POWER, 49 

2) Jay Gould’s Railroad System belongs to the 
Money Kings. In 1873, Jay Gould could hardly have 
been worth more than his partner, Jim Fisk. In the 
hard times that followed 1873, nobody in America could 
make much money. Yet, in 1878, Jay Gould came out 
West with forty million dollars, as it was given out through 
the newspapers, and bought ten thousand miles of rail¬ 
road ; and the American people were made to believe 
that it was his money, and that he himself owned, in his 
own right, the railroads of the Gould system. His wealth 
was regarded as enormous. He was reputed the richest 
man in America. His wealth has been estimated as high 
as two hundred million dollars. 

But of late years, facts have transpired, which show 
conclusively that Jay Gould is only the agent of the 
Money Power, to hold and operate their railroads:— 

The Wabash System is one-half of the ten thousand 
miles of railroad in the Gould System. Some years ago, 
the Wabash System became embarrassed, and was placed 
in the hands of a receiver. Mr. Gould no doubt sup¬ 
posed that it might affect his credit for the American 
people to suppose that he could not sustain the credit of 
his roads; so he had an interview with a New York re¬ 
porter, which fell under my eye, in which he said that 
much the greater number of the stockholders of the Wa¬ 
bash System were in Great Britain, and only a few in the 
United States:—and Jay Gould is one of the few!—It is 
evident that Jay Gould is not the owner of the Wabash 
System! 

The rest of the ten thousand miles of the Gould Sys¬ 
tem consists of the Missouri Pacific, the Missouri Kansas 
and Texas, the Texas Pacific, and the Iron Mountain 
Railroads.— The Texas Pacific did not belong to Jay 
Gould, for its stockholders have had it taken out of the 
Gould System by process of law.-—The Missouri Kansas 



5 ° 


RISE OF THE MONEY POWER. 


and Texas did not belong to him; for its stockholders 
also, have brought suit and withdrawn the Road out of 
the Gould System. 

Indeed, a short time since, Mr. Gould had an interview 
with a reporter, which I saw, in which he stated that he 
held more stock in the Missouri Pacific than all his other 
investments put together. The Missouri Pacific is a Road 
three hundred miles long, running from St. Louis to 
Kansas City. And Mr. Gould’s stock in that road 
amounts to more than all his other investments put to¬ 
gether! And he does not even own all of that three hun¬ 
dred miles of railroad.—And yet Mr. Gould was the os¬ 
tensible owner of ten thousand miles of railroad and 
worth two hundred million dollars!! 

When we find one of the ostensible great owners of a 
grand railroad system to be merely an agent of the Money 
Power, it gives rise to a strong presumption that the other 
reputed owners of great railroad systems are also agents 
of the Money Power. 

2. Vanderbilt an Agent of the Money Tower. 

There is a large amount of cumulative evidence to 
prove that Commodore Vanderbilt was an agent of the 
Money Kings:— 

i) Commodore Vanderbilt was originally a poor man. 
He first rose into prominence as the manager of a line 
of steamers, running in the Isthmus route from New York 
to San Francisco. But when he quit the ship line and 
went into Wall street speculation in railroad stocks, he 
was worth only one million dollars. Manifestly, there¬ 
fore, he was not the owner of the steamship line, but was 
holding and operating it as the agent for the stockholders, 
who were largely English. 

If Commodore Vanderbilt was the agent of the Money 
Kings in operating the steamship line, and was afterwards 



VANDERBILT AN AGENT OF MONEY POWER. 5 1 

transferred by them to Wall street, to operate for them 
there, it will explain many things otherwise unaccount¬ 
able. 

2) Vanderbilt always operated in Wall street as a bull. 
In other words, he was always buying railroad stocks. I 
recollect reading a work written when his operations were 
the wonder of the whole country, in which the author 
said that Vanderbilt had an unlimited purse back of him. 
Nobody knew where he got his money, but the money 
at his command was practically without limit. Frequently 
he had the whole street against him, but he was always 
able to put down any combination that was formed against 
him. He had more money at his command than could 
be brought against him in all America. 

It is idle to suppose that Vanderbilt was able to carry 
his vast operations through, with the one million dollars 
he was worth when he went into Wall street. Many of 
the operators there who combined against him were each 
far richer than he. We can only account for his immense 
operations, which required the command of unlimited 
capital to carry them to the successful issue he always at¬ 
tained, on the hypothesis that he was the agent of the 
London Money Kings to buy up railroad stocks for them. 

I recollect that when Vanderbilt bought out Harlem, a 
little railroad some twenty odd miles long, the whole 
world was astonished that one man was able to buy and 
own an entire railroad. He soon afterwards bought the 
Hudson River railroad, and the New York Central; and 
he continued to purchase railroads, until he owned a grand 
system extending far into the Northwest. It was impossi¬ 
ble for Commodore Vanderbilt to have conducted his im¬ 
mense operations with his own limited capital. If he was 
the agent of the Money Kings, all is explained. 

3) At his death, Commodore Vanderbilt was reputed to 
be worth one hundred million dollars. When, in his will. 


52 RISE OF THE MONEY ROWER. 

he divided out only three and one half millions among his 
children, that fact confirmed me in my belief that he was 
an agent of the Money Power, and that the three and one 
half million dollars was all he was really worth ; and that, 
in giving the rest of the property, including the railroads, 
to his son Wm. H. Vanderbilt, he simply transferred the 
agency to him. This view was confirmed by the fact that 
Wm. H. Vanderbilt, immediately after his father’s death, 
went to London, as I believed, to see his principals, and 
have his agency confirmed. 

4) A fact which occurred in 1880, was, to my mind, 
conclusive evidence that Wm. H. Vanderbilt was only an 
agent. He then transferred a controlling interest in the 
New York Central System to a syndicate of New York 
capitalists, avowedly representing English capitalists, for 
$50,000,000; which he at once invested in four per cent 
United States bonds. Now, I do not think that Mr. Van¬ 
derbilt would have done that, if the property had been 
his. The transaction is contrary to all the laws of human 
motive. 

1] The stock made him a Railroad King—one of the 
most influential men in America. And it was paying him 
far more than four per cent. 

2] A man owning a grand railroad system under his 
own absolute control would not jeopardize his interests, 
by selling a controlling interest to foreign capitalists. Nor 
would an astute financier like Vanderbilt have sold a con¬ 
trolling interest in a grand railroad system which must have 
been paying much more than four per cent., to invest the 
money in four per cent, bonds. It is not in human nature 
to make so bad a bargain. 

3] Nor does it accord with the pride of a railroad 
magnate thus to abdicate power, and step down and out. 
If Mr. Vanderbilt was a free agent, his action is inex¬ 
plicable by all the laws of human motive. 



VANDERBILT DEPOSITS BONDS IN LONDON. 53 

4] But if he was an agent of the London Money Kings, 
and an order came from headquarters to make the trans¬ 
fer, he would have to “obey orders.” 

5] And this was probably the fact. Mr. Vanderbilt 
was a haughty irritable man, and exceedingly indiscreet in 
his utterances. If an agent, he was not the best man to 
keep in such a responsible position. His utterances, 

“ d-the people,” and “ I do not run my roads for the 

benefit of the people”, exposed him to popular odium, and 
would not commend him to his principals. 

6] At the next election after his transfer of stock, Mr. 
Vanderbilt was elected a director in all the roads of the 
system; but he was made president of only a subordinate 
road. He was evidently very much humiliated, and made 
a meek speech in which he said he had no doubt the new 
arrangement would be more agreeable to the stock¬ 
holders. 

7] He did with the United States bonds bought by 
him just what he would have done if he were an agent 
acting under orders from his superiors in London. What 
did he do with them ? Did he keep them in New York, 
as he would naturally have done if they had been his 
own? No: he at once deposited them in London, in the 
banking house of John Bidall Martin, in Lombard street. 

5) The provisions of the will of Wm. H. Vanderbilt 
bear out the idea that he was an agent of the London 
Money Kings. He divided his property among his 
children more equally than his father had done; but he 
gave to one son $56,000,000, a controlling interest in the 
railroad system; and he provided that all the property 
should remain together. This arrangement would secure 
the control of the railroad system to the Money Kings, 
as effectually as the arrangement made by his father. 

I do not doubt, however, that Gould and the Vander¬ 
bilts are rich in their own right. The Money Kings pay 



54 


RISE OF THE MONEY POWER. 


their agents well. Their rule is to give them a large, 
though minority interest, in the property they manage. 
And then, the position of Commodore Vanderbilt, and 
later, of Jay Gould, and Wm. H. Vanderbilt, would give 
them vast opportunities of making a great deal of money 
for themselves in operations in Wall street. But all the 
cumulative facts prove that Commodore Vanderbilt was 
an agent of the Money Kings—facts which are wholly in¬ 
consistent with the idea that the Vanderbilt family really 
owns the railroads it holds in possession. 

If the grand so called “Railroad King” in America, is 
only an agent of the London Money Kings, what a com¬ 
mentary upon the grandeur of those imperial capitalists! 

3. Tom Scott was the reputed owner of the Pennsyl¬ 
vania Central;—but, since his death, we hear nothing of 
his heirs being the owners of that railroad system. 

4. C. P. Huntingdon has been the reputed owner 
of the Chesapeake and Ohio Railroad and connections. 
Where did he make the money to buy it ? 

(1) At the time the Central Pacific Railroad was pro¬ 
jected, Huntingdon was a grocer with limited means in 
San Francisco. He and his coadjutors built the Central 
Pacific Railroad. Many facts indicate that they were 
merely the agents of the Money Power in that enterprise. 
The United States government aid was only paid when 
a stipulated number of miles of railway had been com¬ 
pleted : the men in the construction company had not the 
means to do so much work before receiving the govern¬ 
ment subsidy. All Americans who have a grand enter¬ 
prise in hand go to London to get the money to accom¬ 
plish it. Now, the Money Kings would not have suffered 
Huntingdon and company to remain principals in the 
ownership of the road for the construction of which the 
Money Kings furnished the money. They would cer¬ 
tainly demand, as the only condition on which they would 


HUNTINGDON AND GARRETT. 55 

furnish the money for construction, that the franchise 
should be transferred to them, and that Huntingdon and 
his friends should become their agents to build and oper¬ 
ate the road. 

(2) When Huntingdon appeared before a Congressional 
Committee, he insisted that the Central Pacific road was 
in very straitened circumstances. When a member of the 
Committee asked him if he shared the depressed financial 
condition of the road, he paused for a considerable time 
before replying; and finally answered with extreme cau¬ 
tion,—“No: Iam said to be rich.”—He insisted that he 
had made no money out of the Centra! Pacific; but that 
everything he was worth had been realized from other en¬ 
terprises. 

I take all this to be a reserved statement of the actual 
truth. The Money Kings would get the lion's share of 
the profits of constructing and operating the Central Pa¬ 
cific; to Huntingdon and the others would be allowed the 
jackal’s portion. 

(3) But, if Huntingdon made no money out of the Cen¬ 
tral Pacific Railroad, where did he get the money to buy 
the Chesapeake and Ohio, and the other railroads of the 
system? We are forced to the conclusion that Hunting¬ 
don does not own those railroads at all—that he is the 
agent of the Money Kings, and holds his roads, as Gould 
does his system, in trust for the real owners. 

His answer to the Congressional Committee indicates 
such a state of facts. He said “/am said to be rich.” 
Such would be the cautious language of a man who was 
thought to be the owner of a great railroad system, when 
he knew himself to be the agent of the Money Power. 

5. In the case of Garrett, the facts fully .comport 
with the idea that he is the agent of the Money Kings; 
but not at all with the idea of a man owning a vast railroad 
system in his own right. But as it would be necessary to 



56 RISE OF THE MONEY POWE-R. 

comment on his personal misfortunes, in order to make 
out the case, it is passed without further notice. It is suf¬ 
ficient to say that the Baltimore and Ohio Railroad is fully 
mortgaged to London bond holders. 

The whole question of the ownership of the American 
railroads is veiled in mystery. But, however carefully it 
is hidden, the Money Kings have the property securely 
in their hands. 


Everything proves that the Money Kings are the own¬ 
ers of our railroads. The author of a pamphlet given me 
in London, in 1864, told the truth when he said of the 
Money Kings, as will be hereafter quoted,—“We are the 
railway builders of the world, and the actual owners of 
the greater part of the railways.” They have had plenty 
of time since then, to have purchased what they did not 
then own; and they have been very busy in Wall street, 
during the entire interval. 


Chatter VI. 

DEVOURINGS OF THE MONEY POWER IN THE 
UNITED STATES, Continued. 

V. THE MONEY POWER DEVOURS OUR OIL INDUSTRY. 

Upon the discovery of oil in Pennsylvania, many Amer¬ 
icans embarked in the new enterprise; spending millions 
in prospecting for oil, and millions more in operating 
successful wells, engaged in active and healthy competi¬ 
tion in the oil market. The aggregate profits of the busi¬ 
ness attracted the attention of the Money Power, which 
promptly took steps to crush the American well owners, 
and monopolize the business. 



THE OIL MONOPOLY. 


57 


The measures adopted were as quiet, as sudden, as ef¬ 
fectual, as the coil of the boa constrictor about its victim. 
A railroad was'built to the oil regions;—but it was not 
built to the oil wells, so that all the well owners might 
ship by it, but its terminus was fifteen miles away on one 
side. A few wells were purchased, to start the business; 
and a pipe line company was organized, and a pipe line 
was laid from the wells purchased, out to the railroad, 
with steam engines stationed at intervals, to force onward 
the sluggish flow of oil. 

At that time, six thousand wagons were hauling oil over 
corduroy roads out to the railroad. Of course, the well 
owners, hauling on wagons, could not compete with the 
pipe line, after it went into operation. The profits of oil 
were put down to a point that barely covered expenses, 
with the best facilities. The individual well owners had 
to plug up their wells, waiting for another railroad to be 
built into the oil regions, over which they might ship. 
But these Money Kings never jostle each other. No 
other railroad was built. The oil well owners, in despair, 
had to sell out to the Money Kings, at any price they 
chose to offer. 

The Great Standard Oil Company, operating with 
a capital of $90,000,000 in the United States, has now, 
by a long course of oppression crushing all competitors, 
taken possession of the entire oil industry of the country, 
and established a mighty monopoly. 

A number of striking facts point out the Standard Oil 
Company as one of the monopolies of the London Money 
Power:— 

1. The monopoly of the oil industry is part of a grand 
system. We find the Money Kings engaged in establish¬ 
ing monopolies all over the world, and especially in our 
country. We naturally conclude that the oil monopoly is 
also a part of their system. 



58 RISE or THE MONEY POWER. 

* 

2. A*detective can identify a burglar by his method. 
This oil monopoly was established in perfect accordance 
with the method of the Money Power. The combination 
of cunning, secretiveness and the deadly coil of omnip¬ 
otent capital is unmistakable. 

3. No American capitalists were powerful enough to 
break down the oil well owners by dint of unlimited cap¬ 
ital. 

4. No American capitalists would have engaged in such 
an enterprise, when the oil well owners might have foiled 
the attempt by obtaining English capital to counterwork 
them. Only the Money Kings would have engaged in 
an attempt that required such an immense outlay; for 
only they could be sure of being able to carry out the 
design without interference from other capitalists. They 
are thoroughly organized, and never interfere with each 
other. 

5. It is manifest that the Standard Oil Company is not 
an American corporation. The method and the extent 
of its operations show that it is an enterprise of the 
Money Kings. For the Standard Oil Company is oper¬ 
ating in Russia as largely as in the United States. It 
owns hundreds of millions of acres of Russian oil lands, 
and is supplying the neighboring markets from those oil 
wells, just as it is supplying the American markets from 
the oil wells of Pennsylvania. The Standard Oil Com¬ 
pany, like all the monopolies of the Money Kings, is 
world-wide in its operations. Unlimited capital behind 
it enables it to construct facilities for carrying on its busi¬ 
ness,—a grand pipe line front the oil wells to the sea¬ 
board—grand refineries—tank cars for transportation of 
refined oil,—these and other things gave it such advantages 
as enabled it to put down all competition and maintain a 
monopoly of the bnsincss. It evidently aims to secure a 
monopoly of the oil trade for centuries to come. 



THE CHICAGO FIRE. 


59 


Unlimited capital has enabled the Money Power to 
crush in its coil the original proprietors of the oil wells 
without the possibility of resistance. The same unlimited 
capital enables the Money Power to crush competition 
in every line of business, and thus to devour every busi¬ 
ness interest in the country. And it has been success¬ 
ively devouring one branch of business after another, until 
its grand imperialism now covers our land throughout its 
whole extent. 

VI. THE MONEY TOWER DEVOURS CHICAGO. 

The Money Power, owning the railroads, and seeking 
to get into its clutches all our industries, as we shall see it 
has done, needed to have a great city, upon which to cen¬ 
ter the railroads and the trade controlled by it. 

In 1870, Chicago was rapidly becoming a railroad and 
business center for the Northwest. It was the city hest 
adapted to become the trade center of the country, except 
perhaps, St- Louis. But St. Louis was out of the ques¬ 
tion, its business being operated by home capital well 
established. In order that the Money Kings might be 
able to centralize the trade of the country in their hands, 
it was necessary for them to get a secure clutch upon 
Chicago. 

The great fire of 1871 afforded them their opportunity. 
Nobody ever knew how it originated. A high wind pre¬ 
vailing at the time swept the flames through the heart of 
the city, leaving a path of desolation three-fourths of a 
mile wide. The business center of Chicago was reduced 
to ashes. 

The business community had been doing business in 
cheap two-story houses. In rebuilding, they would, no 
doubt, have preferred to erect cheap two-story buildings 
again ; for the lower stories furnished all the room needed 
for business purposes. 



6o 


RISE OF THE MONEY POWER. 


But there has never been any money to be obtained for 
building, in this country, public improvements on a large 
scale, except in London. Chicago could only be rebuilt 
with London capital. The Money lenders could dic¬ 
tate the style of buildings to be erected,—splendid struc¬ 
tures, from six to ten stories high, the upper stories of 
which could only be rented for offices or lodgings. Before 
the rebuilding was completed, the hard times of 1873 
came on; the crisis being engineered, as we shall see, by 
the London Money Power. The panic caught the Chi¬ 
cago business men in the trough of the sea. Business 
was prostrate : renters were lacking for the upper stories : 
payments could not be made: mortgages were foreclosed; 
and the most of the grand Chicago business blocks became 
the property of the Money King mortgagees. 

It was said that Chicago was rebuilt by loans of Eastern 
capital. We have learned, of late years, that Eastern 
capital means London capital. London is the point from 
which we have always had to get money for all improve¬ 
ments. At the time of the Chicago fire, the Money Kings 
had established many loan agencies in the Eastern states, 
as a part of their policy for concealing their money-loan¬ 
ing operations. And these loan agencies were the source 
whence the money was obtained to rebuild Chicago. 

The railroads of the West and South are now concen¬ 
trated upon Chicago in such a way as to center upon it in 
a wonderful manner the trade of those sections. Pushed 
forward with the might of the unlimited capital of the 
Money Kings, Chicago is growing at an unprecedented 
rate. It is now the second city in the country, and it is 
confidently declared that, in a few years, it will surpass 
New York. And it is very probable; for railroads now 
bring to it the trade of Canada and the Northwest, to 
Puget Sound; of the West, to San Francisco; of the 
Southwest, to the Gulf of Mexico and San Diego; of the 



CRASH OF 1873. 


6l 


South, to New Orleans and Mobile; of the Southeast, to 
Atlanta, Savannah and St. Augustine. Chicago is the 
great center of the traffic of the London Money Kings in 
this country. 

Kansas City was planted as the outpost of Chicago, to 
take away the trade of the Southwest from St. Louis and 
carry it to Chicago. And Kansas City is springing up 
like a giant, with its growth pushed with all the might of 
London capital. Like New York it has an elevated rail¬ 
road; in cable roads it is not surpassed by any city in 
the country. It is not suffered to lack anything for its 
growth that capital can give it. 

If anyone wishes to see how these grand capitalists build 
up cities by the might of capital, such curiosity will be 
gratified by observations in Chicago and Kansas City. 
Every suburb is planted, not by pioneers, as in other new 
towns, but by capitalists, who spend millions before they 
invite a settler. A railroad is first built to the prospective 
town; then the streets are graded: gas and water pipes 
are put down: the sidewalks are laid:—and then, settlers 
are invited to make their homes in the new suburb.— 
Nobody can lay out towns in such a style of princely ex¬ 
pense but the London Money Kings. 

VII. THE MONEY POWER CRUSHES ALL OUR INDUS¬ 
TRIES, BY INDUCING THE CRASH OF 1873. 

We have now come in the order of time to the crash of 
1873, which ruined many thousands of our business men 
throughout the country. 

The crash of 1873 was brought on by the failure of the 
House of Jay Cooke & Co. Jay Cooke was a London 
banker, and the agent of the Money Kings for building 
the Northern Pacific Railroad. The failure was arranged 
in such a manner that it did not involve the London house 
of Jay Cooke & Co. at all. But the failure of the Ameri- 



02 RISE OF THE MONEY POWER. 

can house accomplished its purpose. It started a crash 
whose influence lasted five years, prostrating all our in¬ 
dustries, and sweeping the country with a deluge of 
bankruptcy; enabling the Money Kings to hold carnival 
in the purchase of our produce at low prices, and in buy¬ 
ing up property cheap at bankrupt sales. 

All prices went down so low that, though we had $900,- 
000,000 of currency in the country, it only needed $300,- 
000,000 to carry on all the business of the country, and 
the "other $600,000,000 was locked up and retired from 
circulation. 

The London Money Kings certainly prepared and 
engineered the panic of 1873, j ust as tlle y the crash °f 
1837 and 1857. We find their motive in the fact that it 
gave them an excuse for locking up $600,000,000, and 
thus causing the ruin that followed, with the hard times 
and low prices, in which they reaped a rich harvest of 
profit to themselves. 

They Can Make Good Times or Hard Times 

whenever they please; so completely have they gotten our 
country in their hands. They hold our prosperity com¬ 
pletely in their grasp. We are become entirely dependent 
upon them. When they wish to make good times, they 
put out their money freely, in building railroads, in mak¬ 
ing city improvements, in establishing new enterprises all 
over the country, and in lending money to everybody who 
wishes to borrow and has property to mortgage as security. 
Then we have flush times for several years; and every¬ 
body, under their leading, rushes into speculation, and 
everybody gets into debt. 

Then, in Order to Make Hard Times, the Money 
Kings have only to lock up the money they make as 
profits out of their various enterprises in the country. 
They stop building railroads: they stop all outlays for 
city improvements: they stop all investments in new 



FAILURE OF JAY COOKE & CO. 


63 


enterprises; and they stop loans to borrowers. They 
simply lock up their profits, and let the money lie idle.— 
And at once business is at a stand still: the improvements 
which had given activity to business cease: established 
businesses, such as farming, manufacturing, railroading 
go on: everything else stops. There is universal stagna¬ 
tion : prices fall: a flood of bankruptcy sweeps over the 
land : thousands are ruined :—and the Money Kings revel 
in low prices of produce, and cheap purchases of bankrupt 
property. 

This was the way in which the Money Kings operated 
the hard times of 1873, and several years afterwards. But 
they had to have a visible cause that would account for 
the hard times to the public, on accepted business princi¬ 
ples. The failure of Jay Cooke did this. It destroyed 
confidence, and in the eyes of the public justified the 
locking up of the money, with all the subsequent ruin.' 
They thus made our people believe that the crash was an 
unavoidable disaster, due to regular business causes, and 
not to their own malignant intention. 

But it was done on purpose, with malicious intent to 
bring about the very result that followed. That it was the 
work of the London Money Kings is demonstrable.— 
They were building the Northern Pacific Railroad. Jay 
Cooke was their agent in doing that work. They had 
engaged to build the Northern Pacific Railroad, and had 
started the work. Jay Cooke failed, and his failure 
brought on the panic. The failure was a trick, a sham. 
Does anybody believe that the London Money Kings 
who had undertaken to build the Northern Pacific Rail¬ 
road were unable to carry out their contract?—that they 
had not money enough to complete the work, if they 
chose? The idea is too absurd to be entertained for a 
moment. They let the enterprise drop, because they 
chose to do so: they had their agent, Jay Cooke, to fail, 



64 


RISE OF THE MONEY POWER. 


because they knew that his failure would bring on a crash 
which they were resolved to produce, and in whose ruin 
they desired to glut their avarice. 

They stand convicted before the eyes of the world, of 
an atrocious crime against the country, and against hu¬ 
manity. They did not even have the grace to let the 
London house of Jay Cook share in the failure. They 
sent him to America as a dynamite bomb, to explode and 
destroy the prosperity of the United States. And they 
sent him carefully disconnected from his London house, 
so that the ruin he wrought would not effect the London 
house with which he was connected. Jay Cooke may 
have been an innocent victim of their purpose. They do 
not inform their agents of their designs. 

The time may come when all the particulars of this 
infamous plot will be revealed to the world. They may 
hide their tracks as carefully as they can; but the eye of 
history may, in the future, be able to gather many facts 
now hidden, and make the plot stand out, as St. Bartholo¬ 
mew stands, revealed to the loathing of mankind. 


It is a dreadful thought that the Money Kings have our 
industries so completely in their power that they can cause 
another panic such as that of 1873, whenever they choose. 
They could start one to-morrow far worse than that, as 
their control of our industries is far more complete now 
than then. Our prosperity is entirely at their mercy. 

VIII. THE MONEY KINGS DEVOUR OUR NEW ENGLAND 
MILLS. 

Having brought on the hard times of 1873, and caused a 
broad wave of bankruptcy to oversweep our country, the 
Money Kings prepared to reap their harvest. Everything 
was so arranged that ruin, however wide-spread, would 
attract no special attention, but would be regarded as the 



CRUSHING NEW ENGLAND MILLS. 65 

natural consequence of the hard times. The time was 
ripe, and Money Power began at once a grand campaign 
against the New England Mills. 

It was in its devouring the mills of New England that I 
first came upon the track of the Money Power, after 1873. 
I knew that the Money Kings had brought on the panic 
of 1873, by the failure of Jay Cooke, and I was sure that 
they were engineering it to suit their own interests. But 
such was their prudence and skill that for two years I 
looked in vain. I first came upon their track in 1S75. 
I then found that the New York merchants were putting 
down cotton goods to an extremely low price,—one-tenth 
of a cent a yard below the cost of production. Drummers 
were everywhere urging merchants through the country to 
buy, on account of the low price, which they said would 
not last very long. 

I at first wondered how, with the protection of a high 
tariff, the price of cotton goods could be so very low. I 
knew it was not accidental, for the fixed price,—one-tenth 
of a cent a yard below the cost of production in New En¬ 
gland,—showed that it was done by design. I began to 
think out the cause of the remarkable fact. In finding it, 
I found the trail of the Money Kings. Being familiar with 
the operations of our tariff system, I soon made the dis¬ 
covery of 

Their Method of Attach 

upon the New England mills. They had discovered a 
flaw in our tariff system, which enabled them, owning the 
English factories, and warehouses and shipping, to crush 
the mills of New England, despite the protection of the 
tariff. 

In the old days of Democratic rule, before the war, 
Congress, in order to accommodate the import merchants 
of New York City, so arranged the tariff that duties were 
payable, not when the goods were placed in the ware- 



66 


RISE OF THE MONEY POWER. 


house, but when they were taken out for sale. The Lon¬ 
don merchants, under our warehouse system, could store 
their goods in the New York warehouse, free of charge, 
and let them lie there for any length of time ■ and might then, 
if they chose, withdraw them without payment of duty, 
and ship them to any other market. It was cheaper for 
them to store their goods in the New York Custom House 
than in their own warehouses in London. For they had 
to build their own warehouses, at considerable cost; while 
the United States government was so accommodating as 
to build the warehouse and offer them free use of it for 
the storage of their goods. 

The Money Kings availed themselves of the privilege 
given them by our warehouse system. They stored mill¬ 
ions of dollars worth of goods, not really for sale, but to 
be offered at a nominal price, for the purpose of “bear¬ 
ing” down the price of goods in the New York market. 

The New England Mill owners would have to sell their 
goods as cheap as the English goods w T ere offered in the 
custom house,—at one-tenth of a cent a yard below the 
cost of production. They had to keep on running, even 
at a loss; for the delicate machinery, if suffered to lie idle 
for six months, would become lobsided and worthless. 
They continued to run on at a loss until they failed. 
Sprague, of Rhode Island, was the richest of the mill 
owners of New England. When he failed for ten million 
dollars, the tide of bankruptcy stvept over New England. 
The newspapers at the time were filled, not with busi¬ 
ness advertisements but, with bankrupt notices. Amid 
the thousands of bankruptcies throughout the country the 
ruin of the New England mills attracted but little atten¬ 
tion. 

But the mills did not cease operations. New compa¬ 
nies were organized, of which capitalists from abroad had 
control: the mills were set in operation again: prices were 



IRON INDUSTRY DEVOURED. 67 

stiffened up to a point that yielded a fair profit; and the 
manufactories resumed their prosperity. 

Nobody in this country wished to break down the 
New England mills. And nobody on ea^th was powerful 
enough to do it but these London Money Kings. When 
the mills had broke their former owners, no American cap¬ 
italists would have embarked in a losing business. But 
these Money Kings knew how they had broken them 
down, and how easy it would be to make them profitable. 

The system of the Money Kings is not known to 
the public. When they break a man, or a company, they 
do not always set the head of the business aside. They 
do not wish to make a commotion in business circles by 
many changes; and they need the experience of the old 
business managers. Their system is, not to destroy, but 
to subordinate. Their method is the method of the Ro¬ 
mans in extending their conquests: the Romans always 
left a subjugated state with a modicum of power, until the 
time came to reduce it to a province. The Money Kings 
can always kick out their allies whenever they wish, the 
companies being under their complete control; and they 
can afford to be seemingly generous for a while, till the 
time comes to take entire possession. In the present era 
of the growth of the Money Power, the Money Kings 
keep in partnership with their Gentile agents: in the next 
era, they will kick out the Gentile agencies, and put the 
business in the hands of their countrymen, the Jews. 

IX. THE MONEY POWER DEVOURED OUR IRON 
INDUSTRY. 

Our iron industry, like the other manufactures of the 
country, is protected by our tariff, so that whatever iron 
is sold usually brings a remunerative price. The Money 
Power could only crush our iron industry by so crushing 
the prosperity of the whole country that there would he 



68 


RISE OF THE MONEY POWER. 


no building, and no demand for iron. Even in hard 
times, people must have clothing and fuel; so that textile 
manufactures and the coal industry continue to maintain 
some degree of activity. But iron products are chiefly 
used in construction,—building houses and factories and 
railroads. Hard times which put a stop to improvements 
close up iron mines, and foundries and machine shops. 

The Money Power, by the crash of 1873, prostrated 
the whole country. For years, all improvements stopped. 
Mechanics were thrown out of employment by the hundred 
thousand, in cities, in mines, in shops, and roamed as 
tramps over the country. The repairing of railroads was 
almost the only use for iron; and, as the Money Kings 
owned the railroads, they could send iron from England 
at any price; for, selling to themselves, the price made 
no difference. For railroad iron, the protection of the 
tariff was ineffectual. 

For five years after 1873, all business was crushed and 
lifeless.—But it was the harvest of the Money Kings. 
They bought our products at extremely low prices, and 
made unusually large profits: as iron works failed, they 
bought their plants: as lumber companies broke from the 
long stagnation of business, they bought mills aud forests; 
and they had a grand harvest foreclosing mortgages, and 
taking possession of mortgaged property. 

When the harvest was reaped,—when the Money Power 
had devoured all the weak iron and lumber companies, 
and had gathered in all mortgaged property, the Boa 
loosed its coil. By beginning to build railroads and to 
make city improvements, and by loans to start new enter- 
prises, the Money Power, about 1879-80 started the 
country "upon a new cycle of prosperity. 

Possessed of boundless capital—possessed of our rail¬ 
roads—possessed of the great trade centers of the coun- 



COTTON TRADE DEVOURED. 


69 


try—the Money Power has imperial control over our 
industry, and has monopolized the traffic in all the great 
products of the country. 

X. THE MONEY POWER HAS DEVOURED THE COTTON 

TRADE. 

The agencies of the Money Power in the Cotton States 
have been reduced to a perfect System. Agents have 
been established in every district, who make full semi- 
weekly or weekly reports as to the condition of the cot¬ 
ton crop in each district. The reports begin with the 
plowing season, and go on through the entire year, giving 
every fact having any bearing upon the condition of the 
crop. They report the number of acres plowed—the 
weather—the number of acres planted—any blight; army 
worm, excessive rains, drought—the prospect of crops— 
boiling of the cotton—the quantity picked—the amount 
of yield. And every morning, the telegraph brings from 
Liverpool, to all the agents, the price to be paid for cotton 
that day. 

A general agent told a gentleman who was my inform¬ 
ant, that his business was so mean and arbitrary and 
despotic, he hated it. He said the planters frequently 
struggled against the low prices which were ruining them. 
"But,” said he, "they had just as well fight against the 
course of the seasons.” They have no alternative but 
submission to the prices offered by the Money Kings. 
And those prices mean poverty to the planter, and penury 
to the colored laborers who barely subsist upon their share 
of the crop. 

XI. THE MONEY POWER HAS DEVOURED THE WHEAT 

AND GRAIN TRADE. 

The construction of elevators has given to the railroads 
complete possession of the wheat and grain trade. At 



70 


RISE OF THE MONEY POWER. 


first, there was a pretense of individual purchase of grain. 
The Money Kings perhaps feared that the open monopoly 
by them of the wheat trade of the country might cause 
discontent and murmuring, and they at first tried to hide 
their monopoly of the trade. The former custom was for 
some man to build an elevator at a depot, and figure as 
its owner, buying up the wheal of the surrounding country 
on his own account. But those agents frequently illlus¬ 
trated the proverb of a beggar on horseback. Beginning 
to drink, they had to be removed; thus showing that they 
were only agents of the railroads. This plan failing, the 
railroads adopted the plan of granting to some wealthy 
individual the exclusive right to build elevators along the 
line, with of course the exclusive right to buy and ship 
grain over the railroads. This man, who is, of course, 
the agent of the railroad, appoints his agents at each 
depot, and has a monopoly of the wheat and grain trade 
along the line. 

In this way, a few men buy all the wheat of the country. 
There is no competition; the railroads fix the price of 
wheal and grains to suit themselves, and grind the farmers 
down into absolute poverty. And they not only plunder 
the farmer in the price, but they cheat in the measurement 
which fixes the quality of the wheat. For instance, several 
years ago, No. i wheat was 90 cents a bushel, No. 2, 75 
cents, and No. 3, 60 cents a bushel. The wheat was so 
graded by the buyers, that all wheat weighing 60 lbs. and 
over to the bushel was rated No. 1; all wheat weighing 
56 lbs. and over, No. 2; and all wheat weighing 52 lbs. 
and over, No. 3. Now, if the wheat were measured in 
the good old fashioned way in an honest half bushel 
measure, most of the wheat would weigh 60 lbs. to the 
bushel, and be rated as No. 1. But these monopolists 
cheat systematically in the measure. They use an Oval 
gallon measure, easily battered, by accident, to dimin- 



DEVOURING OF GRAIN AND LIVE STOCK TRADE. 71 

ish its capacity. Into such a small measure the wheat 
will not pack close, when poured very gently out of a 
pitcher into it. They then weigh the gallon and multiply 
by 8 to find the weight of a bushel. By this system of 
measurement little of the wheat rates as No. i; and very 
much of it is rated as No. 3. In this way, when No. 1 
wheat was selling at 90 cents a bushel, this system of 
measuring caused much of it to be rated as No. 3, which 
brought only 60 cents a bushel. 

But afterwards, when these monopolists sold the wheat 
out of the elevators, where it was under pressure, all of 
it would weigh 60 lbs. to the bushel, and was sold as 
No. 1! 

The monopolists have now progressed so far with their 
system of oppression, that they at present only pay the 
farmer for wheat about 60 cents a bushel. And the 
farmers have to endure this system of cheating and oppres¬ 
sion, because there is no competition, and the railroads 
arrange matters to suit themselves. 

XII. THE MONEY POWER HAS DEVOURED THE LIVE 
STOCK TRADE IN CATTLE. 

Ten years ago, there were in Chicago fifty buyers 
purchasing cattle for the Eastern markets on their own 
account. Two years ago, I was informed that four buyers 
were doing practically all the business. The live stock 
trade in cattle is in the hands of the Money Kings. No 
individuals can compete with them. They have broke 
down all the cattle buyers engaged in the business, 
and have either driven them out of the business, or 
forced them to become the agents of the Money Power. 
In the cattle trade, the Money Power reigns supreme, 
^ having crushed all competition and established a complete 
monopoly. 



72 RISE OF THE MONEY POWER. 

XIII. THE MONEY POWER HAS DEVOURED THE TRADE 
IN HOGS AND PORK AND BACON. 

Thirteen years ago, there were pork packing firms in 
all the great cities of the West, doing an independent and 
profitable business. But in the hard times following 1873, 
pork packing became a losing business. For several years, 
hogs were high at the time the packers in St. Louis, 
Louisville and Cincinnati were buying and killing; but 
when the bacon was put upon the market, immense capi¬ 
talists put down the market, and the packers lost money. 
This continued for several years, until the individual 
packing companies, buying hogs high and having to sell 
bacon in the market depressed by dominating capitalists, 
broke. 

The King of All the Pork Packers of America is 
Armour of Chicago. His has been an extraordinary 
career. A few years ago, he was a poor butcher, doing 
an ordinary business like many others of his fellows. But 
suddenly he became rich. In a year or two after his 
packing house was built in Chicago, he was killing six 
thousand hogs a day, and operating his business with a 
capital of $120,000,000. These sudden fortunes, as we 
have seen in the case of the Railroad Kings, are suspicious. 
Where did Armour get his money? He could not have 
made it in the ordinary way of business. It was im¬ 
possible. 

His sudden wealth is easily explained on the hypothesis 
that he is the chosen agent of the Money Kings to take 
possession of a grand line of American production for 
them. This explains his immense business, which sprung 
up like a creation of Aladdin’s lamp. This explains the 
hundred and twenty million dollars so suddenly embarked 
in his business! 

Besides the business in Chicago, Armour has packing 
house? in Kansas City and Omaha almost as extensive as 



DEVOURING OF HOG, PORK AND BACON TRADE. 73 

the Chicago establishment. And, in Kansas City, he has 
a bank with such immense resources that, in a time of 
stringency in the money market, other banks in the city 
were compelled to lean upon it for support. All this un¬ 
limited capital is fully explained, if Armour is an Agent of 
the London Money Kings. 

It also explains another singular fact: when the other 
packers, in St. Louis, Cincinnati and Louisville, lost money 
by their operations year after year till they broke, Armour 
made money all the time. As they grew poorer and poorer 
till they failed, Armour grew grander and grander, till he 
became a very colossus between whose legs pigmies creep. 
Indeed, Armour was the storm king who ruled the storm 
which swept down the other packing houses. 

The position of Armour in the Board of Trade, con¬ 
trolling prices, not only of pork and bacon and beef, but 
also of wheat and grain, is such as would be assumed 
by a chief and trusted agent of the Money Kings. 

When we know that it is in accordance with the method 
of the Money Kings to employ such agents, and when we 
see a colossal American house which sprung up from 
nothing, like a mush-room in a night—which grew when 
all others broke—which thrived amid the disasters which 
prostrated other houses in the same line of business—the 
mind which seeks a cause for every effect is driven to the 
conclusion that Armour is a grand agent of the London 
Money Kings. 

Another Fact shows that the London Money Kings 
are now controlling our pork and bacon trade through a 
system of agencies :—Some of the packing houses in Louis¬ 
ville, Cincinnati and St. Louis which broke, continued the 
business. Where did they get the Money? They had, 
after their failure, no money with which to continue the 
business. Friends would not furnish them money to con¬ 
tinue a business in which they had lost their own wealth. 



74 


RISK OF THE MONEY POWER. 


But they got the money somewhere, and kept on in 
business. Did they get their capital from the London 
Money Kings ? Did those imperial capitalists, when they 
had broken down the packing houses, subordinate them, 
and use their skill and energy, subsidizing them as agents? 
If such was the fact, it will explain the state of things in 
the business world,otherwise inexplicable. 

XIV. THE MONEY KINGS DEVOURED THE DRESSED 
BEEF TRAFFIC. 

There are many men in Chicago and other cities en¬ 
gaged in the fresh meat business who, ten years ago, 
ivere worth $10,000, and who are fortunate if they are 
now worth $50,000. But all the great dressed Beef com¬ 
panies have had phenomenal success—success so remark¬ 
able as to be truly phenomenal. 

1. Swift Brothers—one of the firms engaged in the 
dressed beef trade, when they started in the business were 
worth only $8,000. Three years after, they were running 
seven hundred refrigerator cars costing $700,000, and 
were operating their business with a capital of $5,000,000. 
Another house started on nothing, and, in ten years, was 
operating with a capital of $5,000,000. 

We can not account for this phenomenal accumulation 
of fortune by any natural business laws. But if such 
firms are agents of the London Money Kings for mo¬ 
nopolizing the dressed beef trade, it accounts for it all, 
and nothing else will. 

2. Their being agents also accounts for the fact that 
these gigantic firms do not jostle one another—have no 
feeling of rivalry—do not cut one another in prices—nor 
seek, as individual competitors do, to gain superior ad¬ 
vantages over each other for carrying on their business. 

3. It also accounts for the dressed beef trade gaining 
no greater advantages over the live stock trade in the 



DEVOURING OF DRESSED BEEF AND WHISKEY TRADE. 75 

Eastern markets. Within a few years after it was started, 
the dressed beef trade had taken entire possession of the 
New England markets, and entered the markets of the 
Middle states. But it has made but little progress since 
its first success. Private enterprise that had succeeded 
to such an extent and with such rapidity, would have 
pushed on to complete possession of all the Eastern mar¬ 
kets. But the various corporations of the Money Kings 
never destroy each other. They pool their interests, and 
compromise their differences. This looks as though there 
had been an understanding between the dressed beef com¬ 
panies and the railroad companies shipping live stock to 
the Eastern markets, that the dressed beef companies 
might proceed to a certain extent with their industry, but 
should not press their competition to the full control of 
the Eastern markets. 

XV. THE MONEY POWER HAS DEVOURED OUR 
WHISKEY TRADE. 

The whiskey ring is a grand monopoly, involving many 
millions of capital. Many Americans went into distilling 
after the War, and for a time made a great deal of money. 
But about the time that the Money Power was crushing 
out the other industries of the country, the distillers almost 
all broke. Of course the thing could be explained as the 
result of ordinary business causes: The Money Kings al¬ 
ways produce their results through the operation of natural 
causes: they have the capital to set any cause in operation 
they wish, for the accomplishment of any object. Soon 
after the distillers broke, the distilleries were set in op¬ 
eration on a greater scale than before. 

The Grand Whiskey Ring was formed, strong 
enough to influence national legislation, and by increasing 
the tax on the whiskey, to add several cents a gallon to 



76 


RISE OF THE MONEY POWER. 


the value of the whiskey in stock, amounting in the aggre¬ 
gate to many millions of dollars. 

In the breaking of the old distillers we see the method 
of the Money Power; we see its method in the organiza¬ 
tion of the vast whiskey ring: in the reorganization of the 
distilleries; and in the control of national legislation. 
There is no monopoly in the country that shows plainer 
marks of the methods of the Money Kings than the grand 
whiskey ring. 

XVI. THE MONEY POWER HAS DEVOURED OUR 
EXPORT TRADE. 

The Money Kings have possession of every branch of 
traffic in the products of the country : of the railroads: of 
the ocean transportation. They have the export trade so 
hemmed in on every side that they can not fail to have 
possession of it. It necessarily follows from their buying 
up our cotton, our wheat, our pork, our bacon, our beef, 
that they export all these articles that are sent to the for¬ 
eign markets. And, of course, they have established ex¬ 
port houses through which they export the products they 
have purchased. 

XVII. THE MONEY POWER DEVOURS OUR CURRENCY. 

It follows from the facts already stated that the Money 
Power has possession of the great bulk of our currency. 

i. It is a Money Power. Its magnates are Money 
Kings. One of the English writers calls the quarter in 
London where these operators have their places of busi¬ 
ness, “a city of money dealers.” It is by their possession 
of money that the Money Kings control trade. Most of 
these Money Kings are Jews: the Jews have been money 
dealers for centuries. They take possession of the money 
of a country, first: then by means of their monied capital 
they devour everything else. 


MONEY TOWER HAS POSSESSION OF OUR CURRENCY. 77 

2. All Banks, have Immense Deposits. There 
are two classes of depositors,'—individuals who have a 
moderate surplus of cash over the requirements of their 
business; and the Money Kings and their agents, who arc 
buying all our produce and doing almost all the business 
of the country. These Money Kings are too shrewd to 
allow other people to bank on their deposits. It is a vast 
gain to own the banks, and make the profit of banking on 
their deposits themselves. Thus Armour has his bank in 
Kansas City. No doubt the other great trading and 
manufacturing corporations which are paying out many 
millions of dollars every year, also own the banks where 
the capital is held with which they do their business. 

3. When the facts are known, it will be discovered that 
a large number of our National Banks, especially in the 
East, are owned by the Money Kings. 

It is certain that they have our currency in their grasp. 
The profits of the immense business they do are realized 
in money. And they are constantly loaning these cash 
profits to our people on mortgage. They man all our 
money. Our people only get it from them in exchange— 
the farmer for crops: the employee for labor; and the 
borrower for a mortgage on property. 

Owning our money, these capitalists can make hard 
times and low prices whenever they please, by withdraw¬ 
ing the money from circulation. They only need to hold 
their cash profits in their possession, and stop lending 
them back, and stop making improvements, and then stop 
the manufactures of iron and lumber for which the demand 
will have ceased:—and, at once, all business will be par- 
alized, and millions of people will be out of employment. 
The Boa has its folds around us, and can tighten them for 
our destruction whenever it may choose, just as it did 
in 1873. 



78 


RISE OF THE MONEY POWER. 


Thus the Money Power has advanced step by step in 
this country, until it has devoured almost every branch of 
our national industry:— 

1. For years it has kept our currency constricted; and 

it has devoured thousands of millions of dollars worth of . 
our produce at half price, by maintaining panic prices 
through scarcity of money. 

2. It has thus kept us constantly in debt through an 
adverse balance of trade, and has devoured our gold and 
silver as fast as produced from the mines. 

3. The Money Power has devoured all our mercantile 
shipping; 

4. Our import trade; 

5. Our railroads; 

6. Our oil production and trade; 

7. Our New England Mills; 

8. Our iron industry; 

9. Much property in Chicago and other cities; 

10. Our cotton trade; 

11. Our wheat and grain trade; 

12. Our live stock trade in cattle; 

13. Our trade in hogs, pork and bacon; 

14. Our dressed beef trade; 

15. Our currency; 

And it has, throughout all its operations, conducted its 
encroachments with such cunning, craft, stealth, and 
subtlety, that its amazing course of ravage has not been 
known or even suspected by the outside public. 


DEVOURING MINING INDUSTRIES. 


79 


Chapter VII. 

DEVOURINGS OF THE MONEY POWER IN THE 

U. S., Continued.— INDUSTRIES NOW BEING 

* DEVOURED BY THE MONEY POWER. 

The Money Power, as we have seen, has already de¬ 
voured many of our great lines of industry. It is now 
enveloping every industry it has not already devoured, 
and is crushing them in the folds of its capital, prepara¬ 
tory to devouring them. 

I. THE MONEY POWER IS CRUSHING OUR 
COAL MINES. 

By their monopoly of transportation, the railroads are 
securing a monopoly of the coal supply for mines owned by 
them. In some instances, before the passage of the Inter¬ 
state Commerce Law, they refused transportation to coal 
of other companies. They usually form a separate com¬ 
pany which owns the coal mines, and they have given 
special rates to such companies. 

Even under the “Interstate Law” regulating railroad 
traffic, their monopoly of coal mines is not hindered; for 
even if they made equal charges for their own coal and 
that of other companies, yet the charge for themselves is 
simply paid to themselves; so that they can still under¬ 
sell all competitors. This state of things must give to 
mines owned by railroads the monopoly of the coal trade, 
and all other mines must be sold to them, or closed. 

II. THE MONEY POWER IS DEVOURING OUR 
GOLD AND SILVER MINES. 

As a rule, persons having gold or silver mines to de¬ 
velop always go to the Money Kings or their agents for 



8o 


RISE OF THE MONEY POWER. 


the capital to develop them. And the Money Kings never 
put any money into a mine without having a majority of 
the stock given them, so as to secure to them its absolute 
control. They must have the lion’s share in any enter¬ 
prise before they will invest in it. They usually put in 
one of the original stockholders as their agent and man¬ 
ager ; and generally the mine is so managed as to freeze 
out the other stockholders. * 

A shaft is sunk down upon the “lead;” if it proves 
to be rich, only the poorer levels nearer the surface are 
worked, till the outside stockholders become discouraged 
and sell out their stock cheap: then the mine is worked 
efficiently. But if, on the other hand, the mine proves 
to be a pocket, like the Emma Mine in Utah, it is puffed 
in the papers until outsiders have bought the stock; then 
the true state of things is revealed. Having full control 
of the mine, they are able, with their agent, to manipulate 
it as they please; and finally they thus get control of all 
valuable mines. 

III. THE MONEY POWER IS DEVOURING 
OUR LUMBER TRADE. 

It is evident that the Money Power has not yet gotten 
possession of all our lumber forests and lumber mills; for, 
where it has gotten possession of an industry, it stiffens 
up prices to a uniform and profitable rate. The fluctua¬ 
tion in the price of lumber, and the cuts in prices between 
different dealers are evidence of the war of the Money 
Power upon all independent lumber men. The war can 
have but one issue. The ownership of the railroads gives 
such an advantage to the Money Kings in shipping their 
lumber to market, that, in the end, competitors must be 
crushed. The Money Power will get possession of the 
coal mines and the lumber trade, as it has gotten posses- 


DEVOURING LUMBER AND FLOUR MANUFACTURES. 81 

sion of the mercantile trade of New York City, of the oil 
wells of Pennsylvania, and of the great lines of traffic. 

IV. THE MONEY POWER IS DEVOURING OUR 
FLOUR MANUFACTURES. 

Having full control of the wheat market, it would be 
the policy of the Money Power to make all possible profit 
out of the wheat before it reaches the consumer. To this 
end, the Money Power must manufacture the wheat into 
flour. 

The high price of flour in comparison with wheat shows 
that the agents of the Money Power have a large number 
of flouring mills in their possession. The occasional sharp 
falls in the flour market, crushing mill owners of small 
capital, and the occasional purchase of mills by the Money 
Kings, as in a recent deal in Minneapolis, show that the 
Money Power has not yet gotten full possession of the 
flour mills. 

The possession of the railroad transportation gives such 
an advantage to the Money Kings in the flour market as 
must, ere long, with the further advantage of their im¬ 
mense capital, give them entire possession of the flour 
manufacture. Their recent purchase of flour mills in 
Minneapolis shows their desire to obtain such advan¬ 
tageous ground in the business as will enable them to 
crush all competitors and get possession of the entire 
business. 

V. THE MONEY POWER IS DEVOURING THE CATTLE 
RANCHES OF THE WESTERN PLAINS. 

The London Money Kings are resolved to possess not 
only the trade in beef, but also the production of cattle. 
They laid their plans years ago, for monopolizing the 
cattle production of the Plains. It was they who killed 



82 


RISE OF THE MONEY POWER. 


off the buffalo. The destruction of the buffalo was thus 
effected: A high price was offered for buffalo hides in 
whatever quantity they were offered. All men who wished 
to hunt buffalo could get an outfit on credit and pay for 
it in buffalo hides. On these terms, an army of buffalo 
hunters was organized. Hunters lined the banks of the 
streams where the buffaloes came to drink, and by shoot¬ 
ing them down, drove the herds away; and thus con¬ 
tinued to shoot them as, parched with thirst, they came 
to the streams to drink. Some shot the buffaloes: some 
skinned the carcasses: some hauled off hides. In two or 
three years, the buffaloes numbering many millions were 
exterminated. 

Nobody but the London Money Kings could have thus 
effected the extermination of the buffalo. None but they 
look so far ahead. Only they had money enough to equip 
such an army of slaughterers. Only they, in their immense 
world-wide commerce, had a market for such a vast num¬ 
ber of hides. They had been obtaining hides for their 
trade in leather, shoes, and other leather products, from 
Buenos Ayres, in South America. It was only necessary 
to substitute buffalo hides for South American, for two or 
three years, to secure the extermination of the Buffalo. 

The Money Kings saw a grand enterprise in devoting 
the Western Plains to the production of beef. As soon 
as the buffaloes were exterminated, they began to buy 
cattle in Texas, and cows and calves and young cattle in 
all the states, to start ranches on the Plains. This caused 
a boom in cattle all over the country; and multitudes of 
enterprising Americans organized cattle companies, and 
started cattle ranches all over the West, from Texas to 
Montana, mortgaging their property, and taking money 
out of their business, in order to take stock in the cattle 
companies. The boom in prices was kept up until the 
Plains were fully occupied with ranches; for the Money 



BUFFALO EXTERMINATED.-DEVOURING CATTLE RANCHES. 83 

Kings had entire control of the cattle market; and they 
offered high prices as long as it was their interest to induce 
Americans to invest in the beef production. In a few 
years, the Western Plains were fully stocked with cattle 
ranches. 

When the ranches were established, it was time for the 
Constrictor to tighten its folds. The agents of the Money 
Power were the only buyers in the cattle market. The 
Money Kings themselves owned many cattle ranches in 
the West. They could always have a supply of their own 
cattle in the Market to be offered to their agents, the 
cattle buyers, at a very low price, so as to force down the 
market on other cattle owners. It would make no differ¬ 
ence to them how low the price of their cattle—for they 
were selling to themselves : It was money out of one pocket 
into the other. They thus kept down the market for 
cattle, until almost all American cattle companies arc 
now broke. 

A gentleman largely interested in cattle companies told 
me, two years ago, that, at that time, fifty-seven per cent, 
of the cattle companies were broke. When we remember 
that many of the remaining forty-seven per cent, of the 
cattle companies are owned by the Money Kings, it is 
evident that almost all the American cattle companies 
have failed, and that the Money Power has now almost 
completed its devouring of the cattle companies. 

In order to destroy these American cattle companies, 
and also to crush the farmers raising cattle, the Money 
Kings have forced down the price of cattle, in defiance 
of the law of supply and demand. The market for beef 
is active, and growing with the growth of our population. 
The supply of beef has greatly diminished in the last few 
years; two winters ago, a million cattle perished upon the 
Plains, from Texas to the Canada line: four hundred 
thousand perished in Montana alone. The cattle market 



84 


RISE OF THE MONEY POWER. 


is never glutted. Beef is consumed as fast as it is offered. 
Prices ought to be good in the presence of an increasing 
demand and a decreasing supply. 

Furthermore, the consumer pays as high for beef as he 
formerly paid when beef cattle brought a fair price. 
There is no reason why beef cattle should not now com¬ 
mand a fair price. There is demand enough; and the 
retail price is high enough. In view of the circumstances 
of the case, the pressing down of beef cattle to less than 
half price is an outrage upon our people. Beef cattle 
down to half price, with an active demand for beef, and a 
high retail price in the meat store: It is a shame! 

It shows conclusively that the Money Power should no 
longer be allowed to control our prices. 

The Money Tower is now crushing and devouring the 
cattle companies, as it, a few years ago, crushed and de¬ 
voured the other business interests of our country. It put 
down the price of cotton goods until it broke the New 
England Mills, and then put up the price again when it 
had gotten possession of the mills: It put down the price 
of oil until it broke the oil men of Pennsylvania, and then, 
when it had gotten possession of the business,*it put up 
the price of oil: It put down the price of iron wares 
until it got possession of the iron mills, and then it put up 
the price of iron.—So now, the Money Kings are putting 
down the price of beef cattle, until they get possession of 
the cattle ranches, and the farms of our farmers, and then, 
when they themselves have entire possession of the cattle 
production, they will put up the price of cattle fast 
enough. 

VI. THE MONEY POWER IS DEVOURING ALL BRANCHES 
OE PRODUCTION AND TRADE IN OUR COUNTRY. 

A new era of the growth of the Money Power has re¬ 
cently arisen. 


ORGANIZATION OF TRUSTS. 


85 


It is originating vast Trusts which take posses¬ 
sion of an entire branch of production or trade, and crush 
out all competition by the might of capital. A trust is a 
device for concentrating the investments of several Money 
Kings in a single line of business under a single head. 
For instance: where many Money Kings have invested in 
a line of trade, by organizing a trust, they put all their 
business houses in that line and their stocks of goods into 
a single company, and place them under one management. 
The trust is thus able to control the amount of production, 
and all prices in that line of business; and it can destroy 
all outside companies that are not in the trust. Thus, 
two years ago, a coffee trust was originated, which at once 
set to work to destroy all the coffee merchants not in the 
ring. It put down the price of coffee so low as to break 
down the competitors of the trust; and no sooner was 
this accomplished, than the trust put up the price of coffee 
to more than double. 

These trusts are, in effect, corporations without a char¬ 
ter—without any authority from the state; and they are 
thus above governmental control. It is a new step the 
Imperialism of Capital is taking. Through these trusts, 
the Money Kings purpose to do as they choose, and crush 
out all competition with a high hand. They used to con¬ 
ceal their track, and hide their meanness as far as possible 
from the public eye. But now, emboldened by success, 
and intoxicated with the pride of imperial power, they un¬ 
mask their aims, confident of their ability to over-ride all 
opposition. 

1. The Standard Oil Company is a great trust operating 
with many millions of capital, and throttling all competi¬ 
tion in the petroleum market. 

z. Many Americans invested their means in the manu¬ 
facture of cotton seed oil. But the Money Kings wanted 
the oil for the manufacture of their bogus lard and butter. 



86 


RISE OF THE MONEY POWER. 


And they organized a “Cotton Seed Oil Trust” with mill¬ 
ions of capital, and are taking possession of the entire 
industry. 

3. A “Sugar Trust” has been organized, to take pos¬ 
session of the sugar production and traffic. 

4. A “Whiskey Trust” is monopolizing the manufact¬ 
ure and sale of distilled liquors. 

5. Recently, a “Cattle Trust” has been organized, to 
take entire possession of all cattle ranches, and the raising 
of cattle and production of beef. 

6. Grand Trusts, each with millions of capital, are m& 
nopolizing production and traffic in salt, lead, cordage, 
nails, coke, lumber, sheet zinc, copper, crucible steel, and 
other products. Well did the English writer of the pam¬ 
phlet soon to be quoted, say, “ Nothing is too large, and 
nothing too small for English capital, and English enter¬ 
prise.” 

All these Trusts, like the Coffee Trust, will put down 
prices till competition is destroyed, and then they will 
double the price of the article they monopolize. Individ¬ 
ual competition against these grand monopolies is hope¬ 
less. If an outside company goes into the Trust, they 
stop its business, and give to it a part of the profits; till 
other establishments have been started sufficient to supply 
the market without it, and then the idle establishment, 
with its trade and its business connection all gone, is 
kicked out in the cold to die. On the other hand, if 
individual enterprises do not go into the Trust, goods are 
put down in the markets which they supply, and their 
business is taken away. In the Trust, or out of it, out¬ 
side enterprises are bound to be destroyed. 

But Trusts do not merely war upon individual competi¬ 
tors. There is another aspect of their operations, in which 
they especially war upon our national prosperity. 

Trusts are of two kinds,—1) Those which operate in 


MARKET, FOR BRITISH MANUFACTURES. 87 

industrial products which arc protected by our tariff; and 
2) Those which operate in branches of production in which 
we fully supply our own market and export a portion of 
the product. To the latter class belong the Standard Oil 
Company, and the Cotton Seed Oil Trust, and the Whis¬ 
key Trust. To the former, belong Ihe Crucible Steel 
Trust, the Cordage Trust, and other various manufact¬ 
ures. 

In the manufactures which fully supply our own mar¬ 
kets, we ought very soon to take possession of the mar¬ 
kets of the world. And we would soon do so, if pro¬ 
duction went on unobstructed. But the Trusts come in 
and arrest production, and keep us limited to the supply 
of our own markets, in order to maintain high prices, for 
their own profit. The Trusts do not merely injure the 
public by putting up prices;—but in order to put up the 
price, they commit a crime against the nation, by arrest¬ 
ing our prosperity, and preventing us from supplying the 
markets of the world. 

The Money Kings who are at the head of the Trusts 
are the London Jews who want to keep possession of the 
markets of the world for their English manufactures; and 
the only way in which they can do this, is to arrest our 
growth by means of these Trusts. Such a crime against 
the national prosperity ought to be punished by the heavi¬ 
est penalty. 

Of a like tendency is the work of the Trusts which op¬ 
erate in those products, to which, not supplying our own 
markets, we afford protection by the tariff. The object 
of the Trusts is, to continue to obtain the high price de¬ 
rived from the tariff. And in order to effect this, they 
arrest production, so as to prevent our production from 
fully supplying our own markets and thus cheapening the 
price by home competition. They do this, in the first 
place, in order to get the high price of tariff protection. 



88 


RISE OF THE MONEY POWER. 


But they have another object which they desire especially 
to accomplish,—to prevent us from fully supplying our 
own market, and thus save it, in part, to their English 
manufactures. They know that, with unimpeded manu¬ 
factures, we would in a few years fully supply our own 
market, and then, with our great advantages, would soon 
drive English manufactures out of the markets of the 
world. They wish especially to prevent this; and, as the 
only means of doing it, they organize these trusts, to limit 
our production, and keep us continually dependent upon 
English manufactures. 

These trusts are really a conspiracy against the nation; 
and they ought to be treated as such. They are worse 
than murder; for they destroy many individuals by the 
slow torture of financial ruin. And they also strike at 
the national prosperity and the national life. They ought 
to be suppressed. 

VII. THE MONEY POWER IS DEVOURING THE RETAIL 
TRADE. 

The Money Power long since engrossed the great whole¬ 
sale trade of the Eastern cities, and much of the wholesale 
trade in the West. It is now making rapid strides toward 
the monopoly of the retail trade of our cities and country 
towns. 

1st. The First Strokf. of the Money Power at the 
Retail Trade 

of the country was the establishment of the great house 
of A. T. Stewart & Co., in New York City. A. T. Stew¬ 
art was a Scotchman who, for years, occupied a little 
narrow place on Broadway a few feet wide, where he 
peddled needles, and thread and tape. He suddenly 
bloomed out in a palatial building, with a thousand clerks 
behind his counters, and twenty million dollars worth of 



A. T. STEWART, AGENT OF MONEY KINGS. 89 

goods upon his shelves. At the same time, there was a 
branch house of A. T. Stewart & Co., in Glasgow, Scot¬ 
land, and another in Germany; besides establishments in 
Belfast, Ireland, and in Paris. The peculiarity of his 
style of business was, that he had in his House a number 
of departments; and, in the various departments, goods of 
every variety, of the best quality, and at the cheapest 
wholesale prices. 

1. Many stories have been told to deceive the public, 
as to the means by which Stewart could sell such excellent 
goods so cheap. One story was that he bought his goods 
at auction, and very cheap, because they were the tail end 
of stocks, and damaged; and that Mrs. Stewart renovated 
them, and thus enabled him to fool the ladies of New 
York, and make them believe them new goods. The 
story is absurd. A. T. Stewart could not have kept up 
his stock by auction purchases; nor could he have ob¬ 
tained such goods at auction. It is only a clumsy attempt 
to account for a fact inexplicable by all the laws of busi¬ 
ness. 

z. A. T. Stewart could not have accumulated in any 
regular business the immense fortune of one hundred mill¬ 
ion dollars which he was credited with possessing at the 
time of his death. His colossal business, so suddenly es¬ 
tablished, and the excellent quality and low price of his 
goods, can only be accounted for on the hypothesis that 
the London Money Kings appointed him head agent and 
Manager of a great retail house which they established in 
New York, and supplied with goods, in order to strike the 
first blow for the monopoly of the retail trade of New York 
City. This accounts for the immense establishment tvhich 
sprung up like Jonah’s gourd, in a night, and the colossal 
business: it also accounts for the superior quality of the 
goods; and it explains how, supplied from the manu- 



90 


RISE OK THE MONEY POWER. 


factory direct, he could retail his goods at wholesale 
prices. 

3. The events following his death show conclu¬ 
sively that A. T. Stewart was an agent of the Money Kings. 

1) He was closely watched by Judge Hilton, who dined 
with him every Sunday on pretext of friendship, but really, 
no doubt, to talk over business and compare notes. At 
his death, Stewart left his business in Hilton's hands. 
And the American people were soon afterward shocked 
by the intelligence that Judge Hilton had cheated poor 
Mrs. Stewart out of all her husband’s property, giving her 
only one million dollars for the entire estate of which 
Stewart died possessed. 

Now, this is absurd. Mrs. Stewart was a very sensible 
woman. She had a perfect knowledge of the value of her 
husband’s estate. Judge Hilton could not cheat her out 
of one hundred million dollars worth of property, giving 
her only one million dollars for it. But if he showed 
her papers that proved Stewart to be the agent of the 
London Money Kings, she would sign the transfer con¬ 
veying to Judge Hilton the property that belonged to the 
Money Kings, and say nothing about it. 

2) The heirs of A. T. Stewart afterwards brought suit 
against Hilton for the property, alleging that he had ob¬ 
tained it from Mrs. Stewart by fraud, and the whole matter 
was investigated in court. It was there proved under 
oath, by Hilton and the book-keeper of the House, that A. 
T. Stewart was only worth about $8,000,000—that he 
owned no interest in any real estate—that he had no 
interest in the palatial building in which the business was 
done—that he had no interest in the grand buildings 
erected by A. T. Stewart & Co. at Saratoga—no interest 
in the house of A. T. Stewart & Co. in Glasgow, Scotland, 
nor in the German house. It was sworn that he had no 
interest in the business, except a commission on sales. In 


BREAKING DOWN RETAIL MERCHANTS. 91 

other words, he was simply the agent of the London 
Money Kings, who were the “Co.” that owned the 
business. 

3) The arrangement Hilton made of the business showed 
that he was only an agent in the matter. If the business 
had been really Hilton’s, he would have continued to carry 
it on and make millions out of it every year, as Stewart 
had done. But instead, he closed out the business in a 
short" time, attempting to deceive the public as to the 
cause of failure, by the farce of giving offense to the Jews, 
by excluding them from the hotel built by Stewart, at 
Saratoga. 

2nd. These Mammoth Retail Stores Everywhere. 

1. Three immense establishments were started in New 
York City on the model of Stewart’s, keeping in the 
various departments everything, the goods excellent, and 
retailed at wholesale prices. And these stores were 
avowedly in the hands of agents. 

2. And now, in all large cities, are to be found these 
immense retail establishments on the plan of the house of 
A. T. Stewart, and each with an agent at its head, manag¬ 
ing the business for a per centage of the profits. There are 
several such stores in Kansas City. One of them does 
such an immense business that, as I was informed, the 
commissions of the manager amount to over sixty thousand 
dollars a year. The Money Kings pay their agents well. 

3rd. These Stores Are Breaking Down All Other 
Merchants. 

The House of A. T. Stewart broke down one thousand 
retail merchants in New York City, many of whom be¬ 
came his clerks. In all our cities, these grand agency 
retail stores are monopolizing the retail trade. I found 
such stores in many of our country towns. They always 



92 


RISE OF THE MONEY POWER. 


keep immense stocks of goods of ail kinds in their various 
departments, which they sell at retail at wholesale prices: 
—and their counters are swarming with customers. The 
old merchants are being driven from business. 

I have found these stores in different towns in Missouri, 
and Iowa and Kansas, where I have lectured. The Ameri¬ 
can merchants are driven from business, and have to leave 
town. All who live by the merchants are also thrown 
out of employment. The towns are slowly dying. I 
recollect, in a town in Iowa, where I delivered the lecture 
on the Money Power, on the next morning as I walked 
along the street, a man came out of his grocery store and 
invited me to enter. When I went in, he wrung my hand 
with tears in his eyes, and said : 

“Ah Sir, one of those Jew stores you told about last 
night is established here in town. They make a specialty 
of groceries, they say, and profess to sell them at cost. 
My business is ruined, and the business of the dry goods 
merchants also. The people are swarming into the Jew 
store to get things cheap. And I do not know what we 
are going to do.” 

What can they do but get out ? How can a man with 
only a moderate individual capital compete with people 
who have the capital of the world at their back ? They 
can afford to sell at a loss for a time, till they get posses¬ 
sion of the trade. The American merchants can only give 
up the struggle and retire from business. If things go on 
as they are, in a few years more, the Money Power will 
have monopolized the retail traffic, as it has monopolized 
and is now monopolizing all the other branches of business 
in the country. 

The Money Kings never carry any business by storm. 
Their approaches are always quiet and stealthy, their 
methods secret and tortuous. But they never yet have 
failed of accomplishing their end. A few years more will 



NEW ATTACK ON RETAIL STORES. 93 

put them in possession of all the mercantile business of 
the country. 

4th. A New Discovery: A New Method of Attack 
by the Money Kings. 

While this work has been passing through the press, I 
have heard of a new method of attack upon the stores of 
our country towns. It is like every thing else that the 
Money Power originates,—very effective, and sure of 
success if not arrested; and it has all the traits of secret¬ 
iveness, cunning, craft and slyness, that mark every thing 
that emanates from that source. 

The * * * * Store System, as stated by one who knows, 
is based upon the following plan :—If a person has a small 
capital to engage in the business,—$500 or more,—the 
promoters of the plan will furnish him goods at a very low 
price to that amount, and as much more without interest, to 
be paid out of the business. On the other hand, the party 
binds himself to purchase a certain amount of goods every 
month—not large; and to sell the goods for cash, and at 
a fixed' price, from thirty to fifty per cent, lower than any 
other merchant can afford to sell them. He will thus in¬ 
evitably bankrupt all competitors. 

This System has purchasing agents all over the country, 
to buy up bankrupt stocks as fast as the old merchants are 
broke. This system, of course, must be furnished with 
goods from New York, at first; but after the merchants 
begin to break rapidly, the bankrupt stocks, purchased 
very cheap, will keep up the supply of goods, until the 
new stores are in full possession of all the business. 

A list is made out of all the states and territories, with 
the available towns still unoccupied—one store to be 
started at a place. 

This System is already widely established over the coun¬ 
try, and, as my informant says, is making the merchants 



94 


RISE OF THE MONEY POWER. 


“open their eyes wide.” The Money Power is resolved 
to root out our country town merchants, and themselves 
take possession of the business. 

VIII. THE MONEY POWER IS DEVOURING OUR FARMS. 

So vast is the income of the Money Power from its 
various sources of wealth, that it can no longer find in¬ 
vestment for it in its immense loans to the nations of the 
old world—in its loans to states and counties and cities 
and municipalities and corporations—in building new ware¬ 
houses and ships for its ever extending commerce—in erect¬ 
ing new factories—in building new railroads—in opening 
new mines—in starting new mercantile establishments. All 
these vast branches of enterprise can not afford the Money 
Power sufficient investment for its enormous and constantly 
increasing income. 

It can only find investment in mortgages of city prop¬ 
erty and improved farms, and in the purchase of new and 
grand branches of business. 

1st. Farms Mortgaged. 

Until I began to lecture on the Money Power, I had no 
idea of the extent to which our farms have been mortgaged 
to the Money Kings. I thought that perhaps one-twenti¬ 
eth of the farms were mortgaged. I knew that Dakota 
was shingled over with mortgages; but I supposed that 
the condition of Dakota was exceptional. I was aston¬ 
ished upon reading an article in a New York paper, 
evidently intended to soothe the public mind, stating that 
the public need feel no uneasiness about Dakota—that 
statistics proved that there are more land mortgages in the 
state of New York in proportion to area and value, than 
in Dakota! I was astounded at the statement. The Lord 
have mercy on New York!! 

I thought that, in Missouri, the people surely are out 


LAND LOANS. 


95 


of debt. I knew that they are economical, and not over- 
venturesome and enterprising. What was my surprise 
when, in the first place where I delivered my lecture on 
the Money Power, a good citizen said to me:— 

“ I don’t know much about prophecy. But I do know 
that what you say about these foreign capitalists is true. 
To my certain knowledge, at least two-thirds of the farms 
in this community are mortgaged to foreign capital.” 

I traveled widely through Missouri, and everwhere I 
found statements that two-thirds to three-fourths of the 
farms are under mortgage!!—In Iowa, the same state of 
fact exists. In some counties of that state, where farms 
used to sell for twenty-five dollars per acre, the farms were 
mortgaged for one-third of their value; and after a num¬ 
ber of farms were bought in by the mortgagee for eight 
dollars an acre, the amount of the mortgage, all the lands 
receded to that price.—A gentlemen told me that, in one 
of the counties of Iowa where he had investigated the 
state of things, the property valuation of the county was 
$3,000,000, and there are $2,000,000 worth of prop¬ 
erty mortgaged. Perhaps this is an average of the con¬ 
dition of things in the state. 

In Kansas, a very large proportion of the farms are 
mortgaged—a much larger proportion than in Iowa or 
Missouri. 

In Nebraska, as I am informed, the agents of the 
Money lenders are to be found in every neighborhood. 
They go through the country like lightning-rod agents, 
urging the farmers to borrow money on five years time, 
secured by mortgage on their farms. 

2nd. Land Loan Agencies. 

In any of the large cities, if you go into the office of 
one of the Farm Loan Agencies which has agents all over 
the state, and ask for a loan on your farm, the agent will 



96 


RISE OF THE MONEY POWER. 


ask where it lies: tell him the county, and he will ask the 
township; and as soon as you tell him, he will step to the 
wall and, after a moment, will draw down the map of your 
township and will show you your farm. They are pre¬ 
pared to mortgage and buy every farm in the whole coun¬ 
try. 

A banker said to me:—“The money line of these 
Land Loan Companies always has three points,—the agent 
in the West, who loans the money; the intermediary in 
the East, from whom he gets it;—but the third point in 
the line is always London. There is where the money 
comes from.” 

How the Money for the loans is obtained was 
told me by an agent who loans large amounts every year, 
through a large number of subagents. He sent his mort¬ 
gages to a little bank in an Eastern state; from which the 
money was sent to him. That bank transferred the mort¬ 
gage to the third party from which the money came orig¬ 
inally. And this third party is the Money Power of Lon¬ 
don, or some of its immediate agents. 

The Money Kings hide their trail in these loan 
transactions without difficulty. They need only to buy 
up the stock of a bank or an insurance company, in some' 
Eastern state; and then, through such an agency, they 
can loan millions of dollars:—and the American people 
think it is simply Eastern American capital! Thus, a lit¬ 
tle bank in Connecticut can loan millions of dollars every 
year, when it is only making in its regular business some 
twenty thousand dollars a year. 

The Money is London Capital, as is evident from 
the vast amount of it loaned in this country. Billions of 
dollars have been loaned upon farm mortgages, to say 
nothing of the vast amounts loaned on city property. No 
American banks or insurance companies could loan such 
immense amounts of money.. 



FARMS BEING DEVOURED. 


97 


The London Money Kings have, in this country, an 
income of many hundred millions of dollars, every year, 
derived from interest on loans—from the profits of their 
various lines of investment—from the various industries 
they have monopolized—and from the various lines of 
traffic they have taken possession of. They invest in the 
United States all the income derived from their invest¬ 
ments in this country; and statistics prove that, besides 
this, they are sending to this country, annually, a large 
amount of specie for investment, being a portion of their 
profits derived from their vast trade with the outside 
world. It is manifest that the Money Power is loaning in 
the United States many hundred million dollars every 
year. 

We have about reached the end of our tether. About 
two-thirds of the farms of the country are now mortgaged 
for one-third of their value, on five years time. In the 
ten great states of the West and Northwest,—Ohio, Illi¬ 
nois, Indiana, Michigan, AVisconsin, Minnesota, Iowa, 
Nebraska, Missouri and Kansas, the valuation of farm 
property, according to the census of 1880, making a 
liberal allowance for the increase of value, amounts to 
$7,000,000,000. It is estimated that the farm mort¬ 
gages in those states amount to $3,400,000,000. The 
farms are usually mortgaged for one-third of their value 
on five years time. The amount of farm mortgages 
given above is probably excessive. One-half the esti¬ 
mate is most probably nearer to a correct statement. AVe 
may perhaps safely say that, in the above ten states, two- 
thirds of the farms are now under mortgage for one-third 
of their value on five years time. 

How much of the other one-third of the farms is now 
owned by the Money Power it is impossible to say. 
Thousands of agents have been loaning money all over 


9 S 


RISE OF THE MONEY POWER. 


the country for more than twenty years, on improved 
farms and plantations. Down South, in Mississippi or 
Alabama, ask in any neighborhood about the grand plan¬ 
tations of the past, and they will tell you those planta¬ 
tions are under mortgage or owned, as the phrase is, 
“by foreign capital.” The Southern plantations passed 
into the hands of the Money Power in the hard years 
following the war: the Western farms are passing to them 
now. Many of the plantations of the South and many 
of the improved farms of the West have had the mort¬ 
gages on them foreclosed, and now belong to the Money 
Power. If we include the farms on which mortgages 
have been foreclosed together with those now mortgaged, 
we can see what an immense area of our country the Money 
Power will own, when the mortgages they now hold shall 
have been foreclosed. 

3rd. The Money Power is Crushing the Farmers, 

so that they can not pay their mortgages and save their 
farms. Having two-thirds of the farms of the country 
mortgaged to them, the Money Kings are putting down 
the price of all farming products, so that it is impossible 
for the farmers to pay off their mortgages. The Money 
Kings are the only purchasers of produce, and by estab¬ 
lishing Boards of Trade which are absolutely subject to 
their control, they are able, through them, to fix prices 
to suit themselves. By the agency of the Boards of 
Trade, and by their monopoly of the traffic in all farm¬ 
ing products, they have put down the price of farming 
products, until it is impossible for the farmers to pay off 
the mortgages on their farms. 

i. The Money Power Has Put Down the Price of Beef. 

W T e have already seen how the Money Kings have put 
down the price of Beef, in defiance of the laws that 


MONEY POWER CRUSHING FARMERS. 


99 


regulate business prices, wholly setting aside and annull¬ 
ing the law of supply and demand. 

2. The Money Power Has Broken Down the Wheat 
Market. 

Two years ago, our wheat crop was fifty million bush¬ 
els short. It was naturally expected that the price of 
wheat would rise. I saw a quotation from a Liverpool 
paper, at the time, stating that it was expected that the 
price of wheat would be high, owing to the short Ameri¬ 
can crop and the active demand, and expressing surprise 
at the low price of wheat that prevailed in America. 
The price was put down by the imperial power of the 
Money Power over the American markets. 

When it was known that the wheat crop was fifty mill¬ 
ion bushels short, the price of wheat was seventy cents 
a bushel. It was naturally supposed that the price would 
go up. A syndicate of Cincinnati capitalists, acting on 
this business probability, organized with a capital of 
$12,000,000, to operate in the Chicago market; not to 
put up the price of wheat to ninety cents or a dollar a 
bushel, which the condition of things would have war¬ 
ranted, but merely to keep the price up to the existing rate 
of seventy cents a bushel. They had capital enough to 
make their operations a sure success under the rules of 
the Chicago Board of Trade, which only allowed wheat 
to be sold as it was delivered into the elevator. The reg¬ 
ular average amount of delivery was about three hundred 
car-loads a day, and they had money enough to purchase 
this amount of daily delivery, until they could make their 
operation a success. 

But the wheat operators of Chicago had the elevators all 
over the Northwest full of wheat: they ordered the Chicago 
Board of Trade to rescind the rule which prohibited the 
sale of wheat except as delivered into the elevators, and 



100 


RISE OF THE -MONEY POWER. 


allow it to be sold out of the cars; and when their order 
was obeyed, they rushed down to Chicago from all over 
the Northwest three thousand car loads of wheat a day! 
They sold the Cincinnati syndicate wheat at seventy cents 
a bushel, till their $12,000,000 was gone; and then, when 
they had broken the syndicate, they at once put down the 
price of wheat to sixty cents a bushel! 

It was a great outrage! When the wheat crop was fifty 
million bushels short, and the supply was inadequate to 
meet the demand, wheat, according to all the laws that 
regulate prices, ought to have gone up to at least one 
dollar a bushel. To put down the price, under such 
circumstances, lower than it had ever been before, was an 
outrage—a violation of all the laws of trade—a revolu¬ 
tionary overthrow of the law of supply and demand. 

In the same way, and at the same time, 

3. The Money Tower Broke Down the Cotton Markft. 

Two years ago, a Southern syndicate was formed, to 
sustain the cotton market at the low price at which cotton 
was then held. A capitalist at Houston, Texas, headed 
the movement, with $15,000,000 at his back.—But the 
Money Kings now own many of the cotton plantations of 
the South; and they delivered cotton to the syndicate at 
the price offered, till the $15,000,000 were gone; and then, 
when they had broken the syndicate, they immediately 
put down the price of cotton one and one-half cents a 
pound! 

The Money Kings have the cotton market completely 
in their grasp. As one of their agents said, “the planters 
had as well struggle against the course of the seasons as 
against the prices fixed by the Money Power.” They have 
put down the price of cotton, until it will not pay wages 
to the laborers who produce it. It could not be grown at 
all at the present price, if the negro laborers did not take 


BOARDS OF TRADE CONTROLLED BY MONEY POWER. IOI 


their pay in a part of the crop, so that they share the 
oppression and poverty of the planters. The negro 
laborers are barely able to subsist, by raising their own 
provisions; but they are brought down to the condition of 
the Hindoo peasant. 


4th. Two Years Ago was an Era 

in the history of American prices. That was the time 
when the Money Power boldly and openly went into the 
Boards of Trade and crushed all opposition, and put down 
prices to suit themselves, in open defiance of the law of 
supply and demand, and all the laws that regulate prices. 
Before that time, other persons dared to operate in Boards 
of Trade, on the indication of the markets under the Law 
of Supply and Demand. But the Cincinnati and South¬ 
ern syndicates were so completely crushed, that no man 
will ever again dare to interfere with the Money Kings 
in their manipulation of prices in Boards of Trade. The 
Money Kings then made so terrible an example of their 
opponents as to deter all others from repeating the offense. 

The Cincinnati syndicate was so sure that, with a short 
supply of wheat and an active demand, they could sustain 
their move in the Chicago Board of Trade, that some of 
them were tempted, when hard pressed, to use other 
people’s money in their possession. For this offense they 
were prosecuted, and sent to state prison.—After such 
terrible examples, no one will ever dare again to interfere 
with the Money Kings in their regulation of prices. 

Boards of Trade are instruments controlled at 
will by the London Money Kings, and may be made 
to register their will. Under the rule of the Chicago Board 
of Trade the Cincinnati syndicate was perfectly safe in its 
operation: they had enough money to pay for all the wheat 
that could be offered them under the rule of the Board of 
Trade. When Armour went into the Board of Trade, and 



102 


RISE OF THE MONEY POWER. 


demanded that the rule should be changed, so as to enable 
the agents of the Money Kings to break down the Cincin¬ 
nati syndicate, and the Board of Trade at once complied 
with the demand, the fact was thereby established that 
Boards of Trade are conquered by the London] Money 
Kings, and made agencies by which to regulate prices as 
they see best, and that all persons are to be broken down 
who attempt to sustain against them the law of supply 
and demand. That was a practical announcement of the 
fact that 

The old law of supply and demand is wholly 

abrogated, and the will of the Mo?iey Kings is put in its 
place, as the sole regulator of prices in our modern age. 

The law of supply and demand can only regu¬ 
late prices when there is a free market, and the free 
competition of buyers and sellers operates to regulate prices. 
But there is no such competition now: the agents of the 
Money Power are the only buyers of all produce. Boards 
of Trade are subdued by them, and answer to their ma¬ 
nipulations. By the might of Capital, they can regulate 
prices in any Board of Trade. They control absolutely 
the Chicago Board of Trade, and Chicago regulates the 
price of produce for the whole country. They can fix all 
prices to suit themselves by their imperial power over the 
markets, in utter disregard of the law of supply and de¬ 
mand, and in utter violation of all the laws that regulate 
prices. 

The time has come for the public to consider 
this question of prices, and find out some new way in 
which we may regulate prices, and keep them at a proper and 
uniform standard, li e can never suffer the Money Kings to 
regulate prices and ruin our fanners by their arbritary exer¬ 
cise of imperial power, thus subverting all the legitimate laws 
of trade. 

As long as it is left to them, they will do as they have 


PROPER METHOD NEEDED OF REGULATING PRICES. I03 

been doing: they will put down the prices of all produce 
while it is in the hands of the farmers, so as to buy it 
cheap; and then, when it is in their own hands, they will 
put up the price, so as to sell it high!! This has been 
their regular habit for years. How long are the Ameri¬ 
can people going to stand it ? How long will they suffer 
themselves to be plundered by these capitalists? When 
the old method of regulating prices by the law of supply 
and demand is no longer operative, 

We Must Find Some Other Wav 
by which to regulate prices. 

And it will not be difficult to find a much better way. 
One method will be presented in this work, later on. 
Either it, or some other method will have to be adopted, 
if we do not intend for the Money Kings to freeze out all 
our farmers, and get possession of their farms. 

5th. The Money Power Determined To Have 
the Farms. 

No farm product, except hogs, brings a fair price. And 
the price of hogs is owing to hog cholera. With the dan¬ 
ger of cholera, the farmers would not raise hogs at all, but 
for the inducement of a fair price. No Western farmer, at 
present prices of grain, and beef, and other produce, can 
pay wages, pay taxes, and support his family in comfort— 
much less pay off his mortgage. Some of the newspapers, 
setting forth the views of the Money Power, are already 
saying that the farm laborer of ihe Northwest must submit 
to a reduction of wages. And other newspapers declare 
that our farmers must lose their farms, and let us have the 
Tenant Farm System that prevails in Europe. 

The wages of the farm laborer may be reduced, but this 
will not save the farmers. At the present price of prod¬ 
uce, no mortgage can be paid off. 



104 RISE OK THE MONEY POWER. 

A distinguished gentleman of Iowa told me that he, not 
long since, traveled in the same seat with a general agent 
for farm loans who has many subagents in different coun¬ 
ties of the state; and, in the course of conversation, he 
asked him if the farmers could pay off their mortgages? 
The agent laughed at the idea. He said it was impossi¬ 
ble—that he had orders not to foreclose, except as a last 
resort.—The Money Power means to have the farms;— 
but it wishes to appear indulgent. 

Conversing with a banker in Kansas, a very clever 
gentleman, I spoke to him of the great evils that would 
follow the loss of the farms. He laughed pleasantly, and 
said, “ I think the farmers will have to lose their farms.” 
—From present appearances that must be the result. If 
things continue in their present grooves, in a few years 
more, the Money Power will have foreclosed its mort¬ 
gages, and will own in fee simple two-thirds or three- 
fourths, or even a larger proportion, of the farms of the 
country. 

And then, when the farms have been devoured, it will 
be an easy matter to finish the merchants and grocers of 
the country towns. When the Money Kings own the 
farms of the Northwest, as they do many of the cotton 
plantations of the South, they will pay off their peasant 
farm laborers, as they now pay off the negro laborers on 
their Southern cotton plantations, with orders to their own 
stores. Then all the outside merchants who are not 
already broke by the stores established by the Money 
Power, will have to give up business. The merchants will 
have the sad grace accorded to them which the Cyclops 
accorded to Ulysses, of being the last to be devoured. 

Then the Money Kings will have accomplished their 
aim. They will have everything in the country. America 
will be the Ireland of the New World—its people peasants, 
groaning under the yoke of foreign landlordism. 


THE YEAR 1864 AN ERA. 


Chapter VIII. 

DEMONSTRATION OF THE WORK OF THE 
MONEY POWER IN THIS COUNTRY. 

That it is the London Money Power which is thus crush¬ 
ing 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 over¬ 
whelming. 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 EXIST- 
EXCE 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 



RISE OF THE MONEY POWER. 


106 

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. 

1 st. First British Statement. 

I will first quote some statements from a brilliant writer 
in one of the English reviews, who gives a gvapic outline 
sketch of the Imperialism attained, at that time, by the 
Money Kings. He says: 

“London, as every one knows, contains a city within a 
city; and within this inner city there is yet another [the 
Money Quarter], the very heart of the metropolis. It is 
a small place. In a couple of minutes, you may walk 
across it, from side to side, from end to end. Yet it [the 
Money Quarter] is the center and citadel of our great¬ 
ness—the heart whose pulsations are felt to the farthest 
extremities of the empire. The occupants of the precinct 
[the Money Kings] have dealings with all the world. The 
railways which accompany the ceaseless advance of the 
white race into the prairies of the Far West, in America 
[our North-western States]—the [mining] companies which 
explore and develop the [mineral] resources of California 
and Australia—the iron roads and irrigating canals which 
are maturing the prosperity of India—the enterprise which 
covers with tea plantations the valleys and slopes of the 
Himalayas, and which carries our countrymen [the agents 
of the Money Kings] into new regions everywhere,—are 
created or sustained by the outgoings [of capital] of this 
little spot in London. 

“The wastes of Hudson Bay—trading companies for 
the Nile—the cotton planting which is invading Africa— 
ocean lines of steamships—submarine telegraphs connect¬ 
ing dissevered continents—water works for Berlin—gas for 
Bombay—these and a hundred other matters and projects 
engage the thoughts and employ the capital which is at 



BRITISH STATEMENTS. TEMPLE OF PLUTUS. 107 

the command of this busy hive of operators [the Money 
Kings]. Almost every coimtry is included in their operations. 

“ And ALMOST EVERY STATE IS INDEBTED 
TO THEM. - From gigantic Russia to petty Ecuador and 
Venezuela they hold the bonds of every government, those of 
Persia and Japan excepted. Prosaic as their operations 
are in detail, taken in the mass, they constitute a grand 
work. DAILY AND HOURLY, it is their business to 
scan in detail the condition of the world. They weigh the 
influence of the seasons—they know the condition of 
every mine—the prospects of every railway—the dividends 
of every Company. 

“It [the Money Quarter of London] is a city of Money 
Dealers—a Sanctuary of Plutus.—Blot out that inner heart 
of London, and the whole world would feel the shock.” 
(!!!) (Capitals and italics mine). 

His calm style and intimate acquaintance with facts and 
commercial principles place this writer above the charge 
of exaggeration. Indeed, there is reticence through¬ 
out 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. 

2 nd, Second British Statement. 

I next quote from an article in Blackwood, for 1864, 
in which the writer speaks of the Money Quarter of Lon¬ 
don as a Temple of Mammon, in which the Money Kings 
are storing up the wealth of the world. He says:— 

“There [in the Money Quarter of London] they are 
ceaselessly storing up the the wealth that flows to them 
from the rest of the world. Men in strange climes, and 
in strange dresses, and speaking all manner of tongues, 
are seen preparing produce and luxuries of all kinds for 
the Temple, which flow thither in long streams across 
land and sea. And still the work of storing goes on: 
gold, silver, and all precious things, [bonds, stocks, etc.], 
—the delights of life—the cream of the earth’s good 



Io8 RISE OF THE MONEY POWER. 

things—accumulate higher and higher in the chambers of 
the Temple [the Money Quarter].” 

3rd. Third British Statement: The Pamphlet. 

I do not think that any one can still doubt the fact that 
the Money Kings of London have established a grand im¬ 
perialism 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 publi¬ 
cation. 

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, there¬ 
fore, 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:— 

“It is a remarkable position England occupies in the 
world. A little point amid the Northern seas, almost in¬ 
visible to the school boy as he seeks for it on his globe, 
and which be may hide with his finger point as he turns 
the colored sphere, the British Isles are nevertheless the 
heart of the world—the center to which the thoughts and 
acts of men most generally tend—and to and from which 
the streams of material life are ever flowing. 



WONDERFUL STATEMENTS OF PAMPHLET. 109 

“If we draw on a map the great lines of commerce, 
we will see what a large proportion of them converge to 
our shores. It was once a proverb that “all roads lead 
to Rome;” and England, commercially, holds in the 
world [italics his] the same predominant position which the 
Eternal City held in the restricted era of the Roman 
empire. Our country is the chief goal of the highways 
of commerce. Caravans, with their long strings of laden 
camels and horses, are ceaselessly crossing the plains and 
deserts of Asia—railway trains drawn by the rapid fire 
car rush across Europe and America with their freights 
of goods—and ships in thousands bring to us, from all 
parts of the world, the staple supplies of our food and 
industry.” 

* * * * “China sends raw silk, and tea; India 
sends cotton, indigo and rice. We get our spices from 
the Phillipine Islands; almost all our coffee from Ceylon; 
a portion of our cotton from Egypt; hides, chiefly from 
the pampas of Buenos Ayres; wool, chiefly from Austra¬ 
lia and the Cape; wood, from the Northern countries of 
America and Europe; flax and tallow, from Russia; corn, 
chiefly from the United States and Russia; and the 
precious metals from Australia, California, Mexico and 
the Andes of Peru. * * * * England [i. e. the 
Money Power of London] furnishes employment to tens 
of millions of people in the uttermost parts of the earth, 
—the Chinaman in his tea plantations and mulberry 
gardens—the Hindoo in his rice and cotton fields—the 
poor Indian miner in the Andes—the Guacho, as he 
follows his herds in the Pampas—even the Negro of 
Africa, and the natives of the far and fair Islands of the 
Pacific.” 

“Of our exports, we send beer to India and Australia; 
coal, to many places, to supply coaling stations for steam 
vessels, but chiefly to France. We send cotton yarn for 
manufacture to India, Holland and Germany; cotton 
piece goods to the United States and Brazil. Our hard¬ 
wares and cutlery go chiefly to Australia, India and the 
United States; and our woolen and worsted goods to the 
United States, India, and China, Germany, British North 
America and Australia.” 



I 10 


RISE OF THE MONEY POWER. 


* * * * “ The trade of England is ubiquitous. It 
penetrates to every part of the earth. Fully three-fourths 
of the exportable produce of every country is sent direct 
to England, and of the remaining one-fourth, the greater 
part is carried by English enterprise, and at English risk 
to the port of consumption. In like manner, almost every 
spot on the earth receives its foreign supplies from this 
country, or by the hands of English traders [agents of the 
Money Kings]; and by means of English capital. * * 

* * We are the great general merchants of the world." 

* * * * 

“We [the Money Kings] are the manufacturers for the 
world. Every nation in the world except England may 
be called an agricultural country; each no doubt, has 
some few manufactures more or less rough; but the manu¬ 
factures of every one are trifling in the extreme in propor¬ 
tion to the raw products which it grows. Consequently, 
few countries export much except raw' produce; and the 
direct trade between the various countries of the world is 
very small. All trade through England; for what little 
goes direct from one country to another is generally on 
English [Money King] account, carried by English 
[Money King] enterprise, and with English [Money 
King] capital." 

“ We [the Money Kings] are the great carriers for the 
world. Thirty thousand ships sailing under the flag, or 
bearing the cargoes of [the Money Kings of] England, 
are ever on the seas going and coming from all parts of 
the globe. * * * * * From the Thames, the Mer¬ 

sey, the Tyne, and the Clyde argosies and commercial 
armadas are ever leaving, and jostle in our estuaries with 
similar squadrons making to port. 

“We [the Money Kings] are the ship-builders for the 
world; and own or have mortgages on every vessel afloat. 
The shipping in- every foreign port either belong to England 
[the Money Power,] or are employed by England [the 
Money Power,] with the exception of a few coasters." 

“The shores of our estuaries, lined with miles of docks 
and building yards, ring with the clang of hammers; and 
vast ribs of wood and iron, curving upward from still vas¬ 
ter keels, show where leviathan vessels are being got ready 
for their adventurous career. * * * * * Both 


BRITISH CENTRALIZATION OF TRADE. 


111 


classes of our ships, both steam and sailing, are regularly 
increasing in numbers. In both kind of vessels, too, there 
is a steady increase of size. Comparing the present 
amount of our shipping [in 1864,] with what it was in 
1850, we find that we have 11 per cent, more ships, 40 
per cent, more tonnage, and 15 per cent, more men.” 

Filled with enthusiasm at the picture presented to his 

mind, the writer exclaims :— 

"Our little islands no longer suffice for us. Our ener¬ 
gies have far overpassed their limits. There is room for 
us to live and work here—that is all. These islands are 
our house and garden, but our farm is detached. * * * 

IVe live upon the world." 

The writer goes on :— 

“ We [Money Kings] are the railway makers of the 
world: and the actual owners of the greater broportion of 
foreign railways. 

"We [.Money Kings] carry the mails for the whole 
w'orld. Strange as it may appear, even the letters from 
South America to North America have always passed 
through the London post-office. 

"No one can go from one part of the world to another 
without passing through England; so completely do we 
[Money Kings] monopolize the whole passenger traffic.” 

"We [Money Kings] are the bankers of the whole world. 
If the North sends money to the South, or the East to the 
West, the money must be sent through London—there is 
no other way. 

"We [Money Kings] are the bullion dealers of the 
world: all gold and silver is brought direct to England [to 
the Money Kings,] in payment of debts due to us [Money 
Kings,] and then is redistributed by us in the shape of public 
and private loans." 

"We [Money Kings] have the lion’s share in every 

mine. ” 

"We [Money Kings] are the great capitalists of the 
world. * * # * * it nia y be truly said that there 

is not at any time any corner of the world in which Eng¬ 
lishmen [the Money Kings] have not more or less pecuni¬ 
ary interest. Without English [Money King] capital, and 
English [Money King] enterprise, the tallow of Russia 



112 


RISE or THE MONEY POWER. 


could not be brought from the interior to St. Petersburg; 
nor the timber of Norway and Sweden and Poland be 
brought to the ports of embarkation; nor the cotton of 
Egypt to Alexandria. English [Money King] capital per¬ 
forms the internal trafjlc of every country, and largely supplies 
the means of interior production. ” 

“We [Money Kings] are the annuitants of the world. 
We have loaned money to every government , and almost to 
every municipality. Every country has to pay large sums 
to the English [Money Kings] as interest upon loans, 
amounting to many hundreds of millions [pounds].” 

“Nothing is too large and nothing is too small for 
English [Money King] capital, and English [Money King] 
enterprise. We [Money Kings] even pave, light, watch, 
and drain numerous foreign cities. The very water-works 
of Berlin were constructed by the English [Money Kings], 
and are owned in England [by them]. So endless are 
the ramifications of Brittish [Money King] trade and en¬ 
terprise, that the slightest misfortune to any country or 
people seriously affects [the Money Power of] England. 
A severe drought in the most remote spot on earth leaves 
England [the Money Power] a serious loseT. A deluge 
in any country fills our [Money King] ledgers with bad 
debts. An earthquake in any quarter of the globe largely 
reduces English [Money King] profits. Every flood 
washes away English [Money King] dividends, English 
[Money King] exports, English [Money King] imports, 
and sweeps away English [Money King] capital, and ruins 
English [Money King] future expectations.” 

“IN FACT MORE THAN HALF THE WORLD IS 
MORTGAGED TO ENGLAND [the Money Kings].’’* 
(Capitals and italics in the forgoing are mine.) 

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 cap¬ 
italists of the earth. No country had sufficient capital to 

*The author will have occasion to quote further from this re- 
markable publication, later on. 



SCIENTIFIC DEMONSTRATION. 


1: 3 


build its own railroads, or make its own public improve¬ 
ments, 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 individ¬ 
uals. 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 coun¬ 
try.” 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 indus¬ 
try 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 every¬ 
where 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, DE¬ 
DUCED FROM THE LAWS 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 


114 RISE OF THE MONEY POWER. 

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 respect¬ 
ing 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 cor¬ 
porations that are overshadowing this country are run by 
Money King capital; and I demonstrate its truth, by show¬ 
ing that it harmonizes and explains all the facts, which, 
on any other supposition, are a jumble of discordant inci¬ 
dents utterly contradictory of all the principles of Political 
Economy. 


VIOLATED LAWS Of POLITICAL ECONOMY. I15 

1st. The Laws of Political Economy Which Are 
V iolated. 

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, —i) 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 the above principles, it follows 
that a A r ew 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 estab¬ 
lished, 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 ad¬ 
vantage over New Men just starting in the business with small 
capital. 

Principle VII. In Business Crises, men of small 
capital, who arc overtrading, and have to borrow money, arc 
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 



Il6 RISE OF THE MONEY POWER. 

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 wick 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 Aden of small capital will fail. 

Principle X. The superiority of a large capital is equally 
apparent in all operations in stocks a?id produce, in Boards of 
Trade. — For 

Principle XI. The Laws of Chance have their varia¬ 
tions only within certain limits, and in the long run conform to 
regular law: so that, in gambling operations, the longest purse 
will win, iw 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 reason¬ 
able amount of money in a given time. 

Principle XIV. The wealth of a country, under the op¬ 
eration 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 Industryjaid down in these 
Principles. But the exception proves the rule. There 
can not be any general departure from these Principles. 


PRICES ABNORMAL. 


117 

2nd. These Fixed Principles of Political Economy 
are now Violated in Every Particular 

by the facts of the business world, in our time. We call 
attention especially to four points:— 

The Principles of Political Economy are Violated;— 

1. 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 hands 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 pros¬ 
perity 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 subvert¬ 
ing the laws of Political Economy that regulate prices. 

We live in an age of wonderful industrial movement. 
But it is one of the most striking facts of our time, that all 
prices are in an anomalous condition, not to be explained 
by the ordinary laws of industry and trade. All prices, 
especially those of farming produce, are extremely low. 



Il8 RISE OF THE MONEY POWER. 

The depression of the farming interest has 
depressed every other interest of the country. The 
farmers are compelled to economize closely, and buy as 
little as possible from the merchants and other tradesmen 
of our towns. Consequently, business in our towns is 
dull. The wave of enforced economy has spread from 
the farmers to the people of the towns. This general 
pressure, with its necessitated economy, affects our manu¬ 
factures, in diminishing the ability of our people to con¬ 
sume manufactured products. 

The question that stares us in the face and calls for an 
answer, is 

What is the Cause of the Low Price of Farming Products? 

Heretofore, two causes have regulated prices,—the vol¬ 
ume of currency, and the law of supply and demand. If, 
at any time, prices were very low, we could see the cause, 
either in a scarcity of money, or in production carried 
beyond consumption, and a consequent glut of the 
market. 

In the hard times, from 1837 to 1850, there was a great 
lack of currency; there being, in 1842, only $64,000,000 
of currency in the whole country. In such a state of 
fact, we see 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 accommo¬ 
dations. At our great money centers, money is abund¬ 
ant, and the rate of interest is low. Money is so abund¬ 
ant in the country, that any man can get a loan, for any 


MONEY KINGS REGULATE PRICES. II9 

amount, provided he has property to mortgage as se¬ 
curity. 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 overproduc¬ 
tion. We have not an oversupply of wheat, or cotton, 
or pork, or beef, or any of the great'’staples of the coun¬ 
try. 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 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 Impe¬ 
rialism of Capital. Facts already mentioned, and 
which it is unnecessary to repeat here, prove this demon¬ 
strably. The prices of farming produce are low, because 
the Imperialism of Capital is the only buyer of our pro¬ 
duce, 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 



120 


RISE OF THE MONEY POWER. 


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 Xfav Poor Men Have Taken Possession of 
Everything, in All Departments of Business, 

A multitude of New Men have grown up from pov¬ 
erty into sudden wealth, dispossessing richer men of busi¬ 
ness 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 pro¬ 
duce—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 abil¬ 
ity 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 unlim¬ 
ited 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 



NEW MEN BREAK DOWN COMPETITORS. 


t 2 I 


a grand monopoly of oil; manifest proof that they had be¬ 
hind 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 Aoents of the London Monf.y Power. 

It is impossible, under the regular laws of business, 
that these New Men could be independent operators, con¬ 
ducting 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 Rea¬ 
son 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 bus- 



122 


RISE OF THE MONEY POWER. 


iness before them, and drive them out of the business and 
take possession of it themselves, we may blow 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 sup¬ 
pose that they have, unaided, by their own narrenv means, 
supplanted and driven from business richer men, is the rank¬ 
est absurdity. 

The absurdity of the idea is manifest. It is im¬ 
possible 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 se¬ 
cretly 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 nat¬ 
ural 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 battal¬ 
ions, 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 



NEW MEN AGENTS OF MONEY KINCS. 123 

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 pci rich hare 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 
pertver to crush smaller operators; as surely as a thunder cloud 
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 com¬ 
merce over here for investment. 

Where is the Money that has been coming in a 
constant stream for investment? We can not find it, un¬ 
less 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 



124 


RISE OF THE MONEY POWER. 


the London Money Power in this country beyond the 
possibility of doubt. 


This evidence is enough. But it is not all: 

3. The Principles op Political Economy Violated, in the 
Sudden Acquisition of Inordinate Wealth by a Multi- 
tude or 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 imagina¬ 
tion of the Romancer, or the wild dreams of Oriental 
fable. 

When Eugene Sue needed a Collosal 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 


MIRACLES OF ACCUMULATION. 125 

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 Collossal 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 mushroon 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 Rockafeller 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 deal¬ 
ing in stocks,—that they were gamblers; and luck was in 
their favor! But the mutations of chance correct their va¬ 
riations 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. 



126 


RISE OF THE MONEY POWER. 


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 w'orth 
$15,000,000; and he frequently had the whole street 
against him. And yet he rvas 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 Vander¬ 
bilt, 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 suffi¬ 
cient capital to make their operations an assured success. 


The Facts of the Outside World, 

make it apparent how impossible it is that so many Amer¬ 
icans should have made such colossal fortunes in a few 
years. 

An article has recently appeared which shows the con¬ 
centration 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, 


SUCH WEALTH OF NEW MEN IMPOSSIBLE. 1 27 

merchants and railway magnates of England can not com¬ 
pare in wealth with many Americans.” 

The average annual income of the wealthiest one hun¬ 
dred Englishmen is about $400,000; while the average an¬ 
nual 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.*—Earl Dudley, the owner of the richest iron 
mines, was worth at his death but $20,000,000.—The 
Duke of Bucclcuch 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 West¬ 
minster 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 impos¬ 
sible 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 possibili¬ 
ties of business accumulation. 

The Absurdity of the Idea is too gross for belief. 
The men have not made these fortunes. It is impossible 


* 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. 




128 


RISE or THE MONEY POWER. 


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 1S80. 

A Remarkable Fact Fully Corroborates the con¬ 
clusions 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 coontry vastly in¬ 
creased,—increased beyond precedent,—during the in¬ 
terval. 


ENORMOUS GROWTH OF WEALTH. 129 

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 o«r cotton and wheat and 
pork and bacon and whiskey, and breaking those engaged 
in the business before: when the Money Kings were tak¬ 
ing 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 in¬ 
dustry 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 sheep—of 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, 



I 3 » RISE OF THE MONEY POWER. 

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 Demonstra¬ 
tion 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 oc¬ 
curring;—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. 

i. 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 rail¬ 
roads of the world; and that it is carrying on its oper¬ 
ations, 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 


SYNOPSIS OF ARGUMENT. 131 

joint stock corporations: it always systematically conceals 
its operations: thoroughly organized, it proceeds in die 
accomplishment of its aims of conquest in accordance with 
a regular method. 

а. Hence, when we see in this country grand corpora¬ 
tions monopolizing all business, thoroughly organized, pro¬ 
ceeding 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 point¬ 
ing 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 break¬ 
ing down Rich Men already established in business, and 
taking the business from them. 

4. We find New Men, starting poor, in a few years os¬ 
tensibly 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. 

б. We find business drifting into new channels—being 
monopolized by a few great capitalists—the multitude of 
small business operators being ruined, while grand com¬ 
panies with overwhelming capital are taking possession of 
all kinds of business. 

j. 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 con¬ 
stantly expanding industry of the country. 



132 


RISE OF THE MONEY POWER. 


8. We have more business than ever before; 
but it is gone out of the hands of the many small oper¬ 
ators, 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 busi¬ 
ness causes. The action of ordinary business causes 
would, in a normal state of things, give us general pros¬ 
perity. 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 prosperityand 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 oper- 



MONEY POWER, THE CAUSE FOR THESE ANOMALIES. 133 

ation 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 Copemican 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 corrobor¬ 
ation 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 



134 


RISE OF THE MONEY POWER. 


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 be 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 corpora¬ 
tion, 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 em¬ 
ployees of those corporations, when testifying in court, 
and before committees of Congress, can not be induced to 
to state who are the stockholders of the corporations they 
serve. That is their secret—a secret that is never di¬ 
vulged. 

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 stock¬ 
holders. 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 




THE JEWS IX EUROPE. 1JS 

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 stock¬ 
holders. 

They never will permit the public to see their books,— 
unless indeed, hereafter, they should divise 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, mu¬ 
nicipal, corporate, and individual, amounts to over 
$75,000,000,000. 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 


136 RISK OF THE MONEY POWER. 

on its railroads and ocean vessels—from the profits of its 
farms and plantations—from the profits of its merchan¬ 
dizing—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 ship-owner 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 trade—our railroads—our mines—our 
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 in¬ 
dustry, 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 
arc 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, 



JEWISH POWER IN EUROPE. 137 

in Europe, all I have shown that they are doing in the 
United States. 

1 st. 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 noticable 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 Plutoc¬ 
racy 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 1 'rankfort. During the ten years, 185410 1864, 
the Rothschilds furnished in loans, $200,000,000 to Eng¬ 
land, $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 capital¬ 
ists 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." 


138 RISE OF THE MONEY POWER. 

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.” 

2 nd. 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 1871, while, out of every hundred Protest¬ 
ants, thirty nine were returned as “employers, ” out of 
every hundred Jews, seventy-one were engaged in com¬ 
mercial life. It is evident that the Jew merchants make 
at least five times as much profit as the Protestant “em¬ 
ployers ” 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 mer¬ 
chants have the small stores.—When the Jews are half in 
number of the merchants of our towns, what will have be¬ 
come of our merchants? Where will they be? 

In Algiers, even a worse state of things exists. Ac¬ 
cording 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.” 


JEWS DEVOURING LANDS OF EUROPE. 


'39 


3 rd. 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 fam¬ 
ine 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 dis¬ 
tricts 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, in¬ 
creased at the rate of about eight million florins per an¬ 
num ; 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 hun¬ 
dred 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 there¬ 
by the property.” 

In the province of Berkowina, of the private mort¬ 
gages registered in 1877, eighty-two per cent.,—according 



140 RISE OF THE MONEY POWER. 

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 posession 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:— 

“Capital has fixed its eye on the magnificent region 
known as Asia Minor, and found it full to overflowing of 
material for handsome returns, which nothing prevents it 
from getting at, but insecurity and oppressive taxation. 
* * * * * '4 The Money markets of London and 

Paris, now that they will not lend the Sultan any more 
money, are beginning to insist, with a subtle, silent, but 
always in the end irresistible persistence, which unem¬ 
ployed capita] knows so well how to exert, that he must 
at least give them a chance at his mines, and his minerals, 
and his wheat fields, olive yards and vineyards, must let 


JEWISH DOMINATION OF EUROPE. 141 

them carry their own police with them, and fix their own 
taxation. * * * * From this,” the editor significantly 
remarks, “the Ottomans are probably in greater danger 
at this moment, than they have ever been from the armies 
of the Czar.” 

In this dreadful state of things, can we wonder that the 
Jews are about, in every way, to dominate Europe? 

4 th. The Jew Money Kings are Menacing Europe, 
as well as America, with Domination. 

M. De Lavileye, the eminent publicist of Bel¬ 
gium, 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 Israel¬ 
ites, a century hence, will he the masters of Europe.” 

The London Spectator says:—“The Jews display a 
talent for accumulation with which Christians can not 
compete, and which tends to make of them an ascendant 
caste.” 

The New York Tribune quotes one of the German 
papers as saying, “The rapid rise of the Jewish nation to 
leadership is a great problem of the future for East Ger¬ 
many.” And the writer states in justification of this opin¬ 
ion that “All the lower forms of labor, in the work shops, 
the fields, and ditches and swamps, fall to the lot of the 
German element, while the constantly increasing Jewish 
element obtains enormous possessions in capital and land, 
and raises itself to power and influence in every depart¬ 
ment of public life.” 

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:— 

“The nations feel insecure, as if they had no defense; 
the working population are distressed till their irritability 



142 


RISE OF THE MONEY POWER. 


shakes the governments; there is deep unrest everywhere, 
a sense as of over-fatigue; a popular looking forward, not 
• for a millennium, but for some colossal catastrophe in 
which all prosperity shall be submerged; a tension which 
half makes statesmen wish that the cataclysm would come 
and be over. And we see ahead no prospect of amelior¬ 
ation, no gleam of hope in the sky.” 

5 th. The Jew Money Kings have Lately Secured a 
Most Extensive Control of the Press. 

Dr. Kellogg says: “The increase of Jewish influence 
is further illustrated in the extensive control of the press 
[italics his] which the Jews have lately acquired. This is 
much insisted on, and with good reason greatly lamented, 
by many of the most eminent Christian men in Europe. 
The fact is to be observed in every country where the Jews ex¬ 
ist in any number." [Italics his.] 

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 
arc 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 Jew¬ 
ish 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 ot 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. 


JEWISH CONTROL OF PRESS. 1 43 

2.) The great advantage the Money Kings de¬ 
rive from the agitation of so-called Liberals and Pro¬ 
gressives, is this: they are afraid the nations will rise 
against their own outrageous monopolies. They are de¬ 
stroying 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 busi¬ 
ness men are utterly opposed. 

It is their policy to keep up a hot agitation for Com¬ 
munism and Socialism in the great cities ; so that the busi¬ 
ness 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. Peters¬ 
burg, 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 re¬ 
cruited 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 
businecs class, in their abhorrence of Communism, may keep 



144 


RISE OF THE MONEY POWER. 


in sympathy with the railroads, and the other corporations 
of the Money Pmver. It is a part of the consummate 
craft of these Money Kings. 


No one can any longer doubt that these grand corpor¬ 
ations are the agencies of the Money Power. The Scien¬ 
tific 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 English cuckoo has no nest of its own, but lays 
its eggs in the nest of the hedge-sparrow and the robin. 
When the young birds hatch, the intruder, by its larger 
growth, soon needs the whole nest; and it throws out the 
young sparrows, one by one, upon the ground to die, 
while the stranger consumes all the food brought by the 
parent birds.—-England is laying a cuckoo's egg in every 
nation’s nest. It will not be long before the foreign egg 



THE AUTHOR'S PREDICTION. 


■45 


will hatch, and, in its gigantic development, will need 
for its growth all the nation’s wealth. Then, one by 
one, it will cast out of their nest the nation’s young, 
to perish, while the intruder will devour all the nation’s 
wealth.” * * * * * * “It is the prosperity of 

England against the world: one or the other must go 
down.” 

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, whole¬ 
sale merchants, oil men, dealers in wheat, cotton, hogs, 
beef, and all the products of the country have been re¬ 
morselessly 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 arc the Great Red Dragon, the 
Seventh Head of the Beast, the mightiest Imperialism that 
has ever risen upon the earth; which is now controlling 



I4<5 


RISE OF THE MONEY POWER. 


all governments, devouring all property, and threatening 
to destroy all national life.* 

* Some may object that the Jews can not be the great Money 
Kings of London, because the great hanking 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 sub¬ 
ordinated 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 
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. 



PART II. 

THE GREAT RED DRAGON A SYMBOL OF THE 
LONDON MONEY POWER. 


Chapter I. 

THE SEVEN HEADS AND TEN HORNS. 

The Seven Heads and Ten Horns appear three times in 
the book of Revelation : i) In the 12th chapter, upon the 
body of the Great Red Dragon; 2) In the 13th chapter, 
upon the body of the Beast like a leopard, that rises up 
out of the Sea; and 3) In the 17th chapter, on the body 
of the Scarlet-colored Beast, that has a Woman upon its 
back, called the Beast from the Pit. 

In all cases, the seven heads have the same significa¬ 
tion. 

The following is the text of the passage where the 
Seven Heads and Ten Horns appear upon the body of 
the Dragon:— 

“And there appeared another wonder in heaven; and 
behold a great red dragon, having seven heads and ten 
horns, and seven crowns upon his heads.” Rev. xii: 3. 

The following is the text of the passage where these 
Seven Heads and Ten Horns appear upon the body of 
the Beast from the Sea:— 

“And I stood upon the sand of the sea, and saw a 
beast rise up out of the sea having seven heads and ten 
horns, and upon his horns ten crowns, and upon his 
heads the name of blasphemy.” Rev. xiii: 1. 

(■47) 




148 DRAGON, SYMBOL OF MONEY POWER. 

In the 17th chapter of Revelation, where the Seven 
Heads and Ten Horns appear upon- the body of the Beast 
from the Pit, they are elaborately described by the angel 
to John. The following is the text of the passage:— 

“So he carried me away in the spirit into the wilder¬ 
ness: and I saw a woman sit upon a scarlet-colored beast, 
full of names of blasphemy, having seven heads and ten 
horns. 

“And the woman was arrayed in purple and scarlet col¬ 
or, and decked with gold and precious stones and pearls, 
having a golden cup in her hand full of abomination and 
filthiness of her fornication : and upon her forehead was a 
name written, MYSTERY, BABYLON THE GREAT, 
THE MOTHER OF HARLOTS AND ABOMINA¬ 
TIONS OF THE EARTH. 

“And I saw the woman drunken with the blood of the 
saints, and with the blood of the martyrs of Jesus: and 
when I saw her, I wondered with great admiration. 

“And the angel said unto me, Wherefore didst thou 
marvel ? I will tell thee the mystery of the woman, and 
of the beast that carrieth her, which hath the seven heads 
and ten horns. 

“The beast that thou sawest was; 

“ And is not; 

“and shall ascend out of the bottomless pit; 

“and go into perdition : 

“and they that dwell on the earth shall wonder, (whose 
names are not written in the book of life from the founda¬ 
tion of the world) when they behold the beast that was, 
and is not, and yet is. 

“And here is the mind which hath wisdom. 

“The seven heads are seven mountains on which the 
woman sitteth. 

“And there are seven kings: 

“five are fallen; 

“and one is; 

“and the other is not yet come; and when he cometh, 
he must continue a short space. 

“And the beast that was, and is not, even he is the 
eighth, and is of the seven, and goeth into perdition. 

“And the ten horns which thou sawest are ten kings 



SEVEN HEADS AND TEN HORNS. 149 

which have received no kingdom as yet; blit receive pow¬ 
er as kings one hour with the beast. 

“These have one mind, and shall give their power and 
strength unto the beast. * * * * * 

* * * * * “And the woman which thou saw- 
est is that great city which reigneth over the kings of the 
earth.” Rro. xvii: 3-13, and 18. 

In each of the above instances, while they appear upon 
different bodies, the Seven Heads and Ten Horns are the 
same, and symbolize the same powers. In the 17th Chap¬ 
ter, the angel explains to John that the Seven Heads and 
Ten Horns symbolize “seven kings,” prophetic phrase 
for seven kingdoms or empires. The angel says “five 
are fallen; and one is; and the other is not yet come, and 
when he cometh he must continue a short space.” 

From this explanation, we are able to understand 

The Appearance of the Seven Heads and Ten Horns, 

as they appear on the body of the Dragon. As the Dragon 
stands uplifted before the woman, five heads hang down 
dead, underneath its neck, symbolizing the five empires 
which had fallen at the time the Revelation was given. 
The Sixth Head is on the end of the Serpent’s neck, and 
on it are ten horns. The Seventh Head is the Serpent’s 
head, jutting out through the top of the Sixth Head, and 
dominating all. Such is the appearance of the Dragon, 
with its Seven heads and Ten horns. 

What is the symbolic signification of the Seven Heads 
and Ten Horns? What powers do they symbolize? 

Before giving the true exposition, it will be best to notice 

I. THE ERRONEOUS INTERPRETATION FORMERLY 
GIVEN OF THE SEVEN HEADS. 

In former interpretations, the Seven Headed Beast was 
interpreted as symbolizing the Roman empire, exclusiv ely. 
This interpretation could be made, only by an entire mis- 



150 DRAGON, SYMBOL OF MONEY POWER. 

application of the facts of history. The Five Heads that 
had fallen at the time of the vision, have been interpreted 
as symbolizing the five forms of administration that existed 
under the Roman Republic,—Kings, Consuls, Decemvirs, 
Military Tribunes, and Dictators. 

1st. I Object To This, 

1. That there were only two forms of govern¬ 
ment in Rome that had fallen at the time the vision 
was given,—the Kings; and the Republic. 

The Republic was always a government of the Senate 
and the People, throughout its entire existence. And, 
during its entire existence, the Executive of the Republic 
was in the hands of the Consuls, except during brief in¬ 
tervals. 

2. Ac. ain, I Object to the Interpretation, that 

It is a violation of all the facts of history to call 
the Decemvirate, the Military Tribunes, and the Dicta¬ 
tors, such forms of the Roman government as would be 
symbolized by “heads.” 

1) The Decemvirate was a brief rule of ten persons 
who had been sent to Greece, to obtain new institutions, 
and who ruled about a year, while they put the institutions 
in operation. They were overthrown in a popular upris¬ 
ing against the crime of one of their number. 

2) The Military Tribunes were a temporary ar¬ 
rangement, that lasted only a few years. It was only 
another name for the Consuls; and it was adopted, in or¬ 
der that one of the officers might be a Plebeian. It was 
merely a temporary expedient for a special purpose, and 
was soon set aside. 

3) The Dictatorship only existed in times of great 
public danger, when a Dictator was appointed, whose au¬ 
thority only lasted six months. It is absurd to call the 


SEVEN HEADS AND TEN HORNS. 15 I 

Dictatorship a “ head ” of the Beast. What sort of a 
head is that, which comes on and falls off constantly ? 
Such a symbol is ridiculous. 

4) These forms of administration can not be 
called “heads.” The government of the Roman Re¬ 
public was continuous all the while; and these changes of 
administration did not affect its identity in the least. 

France, since the Revolution of 1789-93, has had nine 
different forms of executive administration,—the Mon¬ 
archy, the Convention, the Directory, the Consulate, the 
Empire, the Monarchy again, the Republic, the Empire, 
and the Republic. All these were much more funda¬ 
mental than those changes of the Roman executive. And 
yet, France has been the same power all the while.— 
Who would think of saying that any prophecy would rep¬ 
resent France, during the last hundred years, by a beast 
with nine heads? The idea is absurd. The French na¬ 
tion has been the same, all the while. 

3. I Object to this Application of the Symbol that, 

If the Different Forms of the Roman Admin¬ 
istration Are to be Continued as Heads, then the 
Triumvirate of Octavius, Antony and Lepidus must be 
counted also; and it will make six heads that had lived, 
instead of five ! ! 

4. I Object to this Interpretation, that 

A Head, in Prophecy, is Never the Symbol of a 
Mere Form of Administration. A head, in prophecy, 
always symbolizes a kingdom, or an empire. The four 
heads of the Macedonian Leopard, in the second vision of 
Daniel, symbolize the four kingdoms into which the 
Mecedonian empire was divided.—And these seven heads, 
in like manner, represent seven empires that have risen in 
the earth. 



152 DRAGON, SYMBOL OF MONF.Y POWER. 

2nd. But the Grf.atf.st Absurdity of This Ex¬ 
position 

remains to be stated.—By making the “Seven Heads” 
symbolize the seven forms of Roman administration, 
former expositors had to find fulfillment for the Seventh 
Head in some form of Roman power; and they found it 
in the Heathen Roman empire. 

I. But the Dragon is a Power of the Latter Days. 

This is certain. 

1) It is contemporary with the Beast from the Pit; and 
all expositors agree that the Beast from the Pit is a power 
that has not yet risen. 

2) In the Great Final War of the Earth, just before the 
Millennium, the Dragon is engaged in the war, in alliance 
with the Beast from the Pit and the False Prophet. 

3) And all the facts respecting the Dragon, in the 
Apocalypse, prove that it is a power of the Latter Days. 

The idea of making the Dragon symbolize the Heathen 
Roman empire is perfectly absurd. It is this kind of 
interpretation,—such a straining of all the facts of history 
—such a jumble of symbolism and imagery,—that has 
made of this grand symbol, the Beast with Seven Heads 
and Ten Horns, an epithet of contempt and derision, 
hurled by the scoffer against all prophecy. 

II. THE TRUE INTERPRETATION OF THE SEVEN 

HEADS AND TEN HORNS. 

The Beast with Seven Heads and Ten Horns 

is a most remarkable symbol. It is so peculiar, so com¬ 
plex, and yet so simple, that it will not fit any powers but 
those it was intended to set forth. 

As the four heads of the Macedonian Leopard, in the 
second vision of Daniel, symbolize the four kingdoms into 
which the Macedonian empire was divided, so here, the 


FIRST FIVE MEADS. 


>53 


Seven Heads symbolize seven empires. But, as we might 
suppose, from the analogy of the vision of Daniel, that 
the seven empires were contemporary like those of the 
Macedonian Beast, it is expressly stated that they are 
consecutive. 

The Seven Heads Symbolize Seven Empires 
having relations with the people of God, and existing from 
the earliest times down to a time yet future. Of these 
empires, five had fallen at the time of the vision. 

1st. Exposition of the First Five Heads. 

The first Five Dead Heads hanging down under the 
neck of the Dragon symbolize five empires that had fallen 
at the time the Revelation was given: “five are fallen.” 

1. The First Dead Head Hanging Down 

under the neck of the Serpent, symbolizes the Egyptian 
empire; which, under the Eighteenth Dynasty, as we learn 
from the records of the Egyptian monuments, recently 
deciphered, extended over Western Asia beyond the 
Euphrates and the Tigris. It was the Nineteenth Dynasty 
which persecuted Israel. The Pharaoh of the Persecu¬ 
tion, under whom Moses was born, was the second king 
of the Nineteenth Dynasty. The Pharaoh of the Exodus 
died at Memphis, some twenty years after that event, 
with his Asiatic empire all lost, and with Egypt divided 
between himself and two rival kings, who reigned in the 
Delta. The great Egyptian empire fell before the judg¬ 
ments of God, visited upon Egypt for the deliverance of 
His people. 

2 . The Second Dead Head Hancinc. Down 

beneath the neck of the Dragon is a I.ion’s head, and 
symbolizes the Assyrian empire, which carried away the 
Ten Tribes into captivity in Media. 



154 DRAGON, SYMBOL OF MONEY POWER. 

3. Thf Third Dead Head Hanging Down 

is also a Lion’s head, and symbolizes the Babylonian 
empire, which carried Judah away captive to Babylon. 

4. The Fourth Dead Head Hanging Down 

is a Bear’s head, and symbolizes the Persian empire, 
which restored the Jews to their own land, and always 
treated them kindly. 

5. The Fifth Dead Head Hanging Down 

beneath the neck of" the Dragon is a Leopard’s head, and 
symbolizes the Macedonian empire, which, under Alexan¬ 
der the Great, overthrew the Persian empire, and which, 
under Antiochus Epiphanes, afflicted the Jews with a 
grievous persecution. 

These five empires had fallen, when the vision of Revela¬ 
tion was given." 

2nd. Exposition of the Sixth Hf.ad, With its 
Ten Horns. 

The Sixth Head was the Roman Empire, which 
was then in existence, and of which the angel said “One 
now is.” The Sixth Head, the Roman empire, was slain 
by the “sword” of the Northern Barbarians, in the year 
476, A. D., at which time historians date the fall of the 
Western Roman empire. 

The Northern Barbarians Planted Their King¬ 
doms in the territories of the Roman empire. In the year 
476, A. D.,—the very year of the fall of the Western 
Roman empire,—we find, for the first time, Ten King¬ 
doms within its boundaries. 

In the eye of prophecy, the Babylonian, the Persian, 
and Macedonian empires continued to exist geographically, 
after their fall as political powers; just as Ireland and Poland 


SIXTH HEAD AND TEN HORNS. 1 55 

are still recognized as having a geographical existence, 
after they have ceased to be political powers. According 
to prophecy, the Roman territory was that part of the 
Roman empire which was not covered by the Babylonian, 
Persian and Macedonian empires,—the territory extend¬ 
ing from the head of the Adriatic to the Danube, and 
thence westward, within the Rhine and the Danube, to 
the Atlantic and the Mediterranean, and including Eng¬ 
land and a part of Scotland. 

Within This Territory, We Find Ten Barbarian 
Kingdoms in the year 476, A. D. And there have 
been Ten Kingdoms in the territories of the Roman empire 
ever since that time. 

Not always the same kingdoms: sometimes, some would 
fall, and others would rise in their place: sometimes, in 
eras of transition, there have been one or two more or 
less than ten kingdoms. But when these eras of transition 
were over, and Europe returned to its normal condition, 
there would be Ten Kingdoms again. There have been 
Ten Kingdoms in Southern and Western Europe, for 
thirteen hundred years: there are Ten Kingdoms in 
Europe now, within the limits of the Roman empire. 

These Ten Kingdoms are fully set forth in my work, 
“Key to Prophecy and it is not necessary to present 
them further here. 

These Ten Kingdoms within the territories of the 
Roman empire are symbolized by the Ten Horns, which 
grew out of the dead Sixth Head. This Sixth Head 
corresponds with the fourth beast of the second vision of 
Daniel. That beast symbolized the Roman empire: so 
here, the Sixth Head. That beast had ten horns; so, on 
the Sixth head here, are the same ten horns. 



DRAGON, SYMBOL OF MONEY POWER. 


I5<5 


3rd. The Seventh Head. 

The Seventh Head is the Serpent head,—the 
empire of the Dragon. It is the subject of this work to 
prove that the Seventh or Dragon Head symbolizes the 
London Money Power—the Imperialism of Capital centered 
in London. We will proceed in the next chapter to give 
the proof. At present we will proceed to the identifica¬ 
tion of 

4th. The Beast from the Pit. 

After explaining to John the Seven Heads and Ten 
Horns, the angel goes on to give an explanation of the 
Scarlet Beast,—the Beast from the Pit. The angel says 
of him: “The beast that thou sawest was, and is not; 
and shall ascend out of the bottomless pit, and go into 
perdition.” And he says again : “ The beast that was and 
is not, even he is the eighth, and is one of the seven.” 

1. This shows that the Beast from the Pit rises 
after all the other seven empires have risen,—after the 
rise of the Dragon Empire, the Seventh Head. “He is 
the Eighth.” 

After the rise of the Dragon empire, another em¬ 
pire rises, which is the Eighth in order of time, but which 
is actually not a new empire, but is one of the first Seven 
Empires: that is, it is a new imperial power, in whose 
dominion one of the dead six empires comes to life again, 
and is re-established. 

All expositors agree that the Roman empire,— 
the dead Sixth Head,—is to be re-established in the 
dominion of the Beast from the Pit. There are many 
other prophecies which foreshow this re-establishment of 
the Roman empire. The re-establishment of the Roman 
empire under the dominion of the Beast from the Pit is 
set forth with great clearness in the 13th chapter of Reve¬ 
lation, and also in the First and Second Visions of Daniel. 


BEAST FROM SF.A, MEDIEVAL EUROPE. 1 57 

In the 13th chapter of Revelation, this re-establishment 
of the Roman empire is set forth. The context reads as 
follows:— 

“And I stood upon the sand of the sea, 

“and saw a beast rise up out of the sea, having seven 
heads and ten horns, and upon his horns ten crowns, and 
upon his heads the names of blasphemy. 

“And the beast which I saw was like unto a leopard, 
and his feet were as the feet of a bear, and his mouth as 
the mouth of a lion. 

“And I saw one of his heads as it had been wounded 
to death [or slain;] and his deadly wound was healed. 

“ And the Dragon gave him his power and his seat and 
great authority.” 

“And all the world wondered after the beast. And 
they worshiped the Dragon which gave power to the beast: 
and they worshiped the beast, saying, Who like unto the 
beast? Who is able to make war with him.” Rev. xiii: 

1-4. 

I have, in one place, slightly transposed this passage, so 
as to give the proper order of sequence. 

The Seven Heads here, as has been already explained, 
are 1) Egypt; 2) Assyria; 3) Babylon; 4) Persia; 5) Mace- 
don; 6) Rome; 7) The Dragon head; which I expound as 
the symbol of the Money Power. This is the point now- 
being established. 

2 . It is Important to Fix the Time 
when the vision begins. 

The Beast, in its first rise from the Sea, repre¬ 
sents Medieval Europe, after the fall of the Roman 
empire, under the Ten Kingdoms. This is evident both 
from history, and from the symbolism of the Beast:— 

1) The Ten Horns represent the Kingdoms of 
the Northern Barbarians who overran the Roman em¬ 
pire. It is Europe under the Ten Kingdoms that is here 
represented. That the time is during the reign of the Ten 



158 DRAGON, SYMBOL OF MONEY POWER. 

Kingdoms is evident from the fact that the ten horns in 
the symbol are crowned; which show's that they are reign¬ 
ing in the era set forth in the vision. 

2) The Beast rises up out of “the Sea.” The 
“Sea” is a prophetic image frequently employed, to rep¬ 
resent a chaotic condition of society, in which all the ele¬ 
ments of social life are unsettled. Such was the condition 
of the territory of the Roman empire after the fall of the 
Western empire. All the institutions of Roman civilization 
were broken down: society was dissolved by the Barbari¬ 
ans who overswept the Roman empire, ravaging, destroy¬ 
ing, burning; until the remnant of the Roman population 
were reduced to the condition of serfs, hoveled in the for¬ 
ests which grew up in the cultivated provinces that were 
reduced to desolation. Out of this chaos modern Europe 
emerged. 

3) When the Beast rose it had the Sixth or Ro¬ 
man head “as it had been wounded unto death,” that 
is, freshly slain. This w r as true of the Roman empire, 
which was just recently slain by the “sw’ord” of the 
Northern Barbarians. 

All the symbolism shows that the Beast represents Eu¬ 
rope during the era of the reign of the Ten Kingdoms, 
after the fall of the Roman empire. 

4) The description of the Beast also agrees per¬ 
fectly with Europe under the Ten Kingdoms. 

i] “ The Beast was like a leopard .”—In the Macedonian 
Leopard (Daniel vii), the spots indicate the great num¬ 
ber of Grecian states that entered into the Macedonian 
empire. The Amphyctionic Council of the Grecian states 
made Phillip, King of Macedon, and afterwards Alex¬ 
ander, the head of Greece for the war with Persia, while 
each state continued to maintain its independence. 

So here, the spots of the Leopard indicate the Ten 
Kingdoms of Europe, which have maintained a sort of 



DEADLY WOUND HEALED. 


159 


loose combination through their community of religion 
and interest, but have always maintained their independ¬ 
ence as separate states.—They were combined during the 
Crusades by a common religious -enthusiasm; and all 
through the Middle Ages, they were united in their al¬ 
legiance to the Papacy.—In Modern Times, community 
of interest has caused them to combine against any pre¬ 
ponderant nation, to maintain the Balance of Power. The 
ten crowned horns have thus been united on the head of 
the Beast from the Sea. 

2] “The feet were as the feet of a hear ."—The Persian 
bear was slow in its conquests; and these bear feet show 
that the states of Europe were, like Persia, slow in their 
military operations. And indeed, the Ten Kingdoms of 
Europe have always been slow and sluggish in any military 
conquests, and generally close their slow wars with but 
little or no conquests on either side. 

3] “His mouth was as the mouth of a lion ."—This lion 
mouth tears and ravages, and shows the ferocity of the 
European states in their furious and bloody wars. 

There can be no doubt that the Beast from the Sea rep¬ 
resents Roman Europe after the fall of the Roman em¬ 
pire, under the dominion of the Ten Kingdoms. 

3. The Healing of the Deadly Wound. 

The Seer defers the mention of the deadly wound, un¬ 
til he speaks of the healing of the wound. The first act 
which John saw was the healing of the deadly wound. 
This symbolizes the Restoration of the slain Roman head 
to life,—the re-establishment of the Roman empire. 

After the healing of the dead Sixth Head, that 
head, when restored to life, is the Beast from the 
Pit. This fully explains the symbolism ot the Beast from 
the Pit:— 

1) It shows how the Beast from the Pit was the Eighth 


160 DRAGON, SYMBOL OF MONEY TOWER. 

empire in the order of time, but was not a new head, but 
one of the seven heads, being the Sixth Head restored to 
life. 

2) We also perceive how the Beast from the Pit might 
be called “The Beast that was, and is not, and yet is.” 
It is the Roman empire; it is not, in its new form, actu¬ 
ally the Roman empire but the German empire; and yet, 
it is the Roman empire, re-established under a new form. 

3) The Beast from the Pit is the Roman empire re¬ 
established, under the imperial supremacy of Prussia over 
the kingdoms of Southern and Western Europe. The 
symbolism plainly shows that the power under which the 
Roman empire is to be re-established is Prussia:— 

1] From the nature of the symbolism, none of the ten 
horns can be the Beast from the Pit. For a horn can 
not be a head, much less can a horn be a Beast. The 
horns arc all on the Sixth Head of the Beast: they are all 
accounted for; and none of them can be the Beast from 
the Pit. 

This shows that none of the Ten Kingdoms of Western 
and Southern Europe can be the Beast from the Pit. This 
excludes all the kingdoms in the territories of the Roman 
empire, within the Rhine and the Danube, from the head 
of the Adriatic westward to the Atlantic, including Eng¬ 
land and part of Scotland. Neither France, nor Austria, 
nor Italy, nor Spain, nor Britain, can be the Beast from 
the Pit; for they are horns on the head of the Beast .—A 
common sense analysis of the symbol would have pre¬ 
vented all the blunders that have been made in expound¬ 
ing the Beast from the Pit as the symbol of the French 
empire. 

2] The Beast from the Pit must, from the nature of the 
symbol, be some power in Europe outside of the Rhine 
and the Danube. It must be either Prussia or Russia. 

But it is not Russia; because, in prophecy, Russia is 


MODE OF IDENTIFYING SYMI.nl>. T 6 1 

called by name as at the head of Europe, at an era after 
the Beast from the Pit has fallen.* 

Hence, as the Beast from the Pit can not be any of the 
ten kingdoms of Europe within the Rhine and the Danube, 
on the one hand, and, on the other hand, can not be 
Russia, it must be Prussia. 

The very nature of the symbolism demonstrates the fact 
that Prussia is the Beast from the Pit. 

We will find that identifying Prussia as the Beast from 
the Pit is a strong point of the evidence in proving the 
Dragon to be the symbol of the London Money Power. 


Chapter II. 

MODE OF IDENTIFYING SYMBOLS WITH THE 
POWERS THEY SYMBOLIZE. 

As I wish to set forth the evidence that the Dragon is 
the symbol of the London Money Power in regular order, 
I desire, in the first place, to show the method by which 
expositors of prophecy prove that the symbols of prophecy 
symbolize the powers which they set forth. This can best 
be done by means of illustrations. 

To illustrate the laws of prophetic symbolism, I will 
take, as examples, the first two beasts of the second vis¬ 
ion of Daniel. 

In Prophecy, objects in the natural world, are employed 
to symbolize or represent objects which they resemble in 
the political world. —Thus, an earthquake, which breaks 
down and destroys objects in the world of nature, is made 
the symbol of a revolution which breaks down and de- 


*This will be fully explained in my work on "The United 
States in Prophecy." 



i6j dragon, symbol of money power. 

stroys political institutions.—A storm of lightning and 
thunder, the effect of conflicting winds and opposite 
electrical conditions, in the natural world, is made the 
symbol of a great war arising out of furious opposing 
elements in the political world.—Thus also, a wild beast, 
cruel, sanguinary, is a proper symbol of a political em¬ 
pire. 

Thus, in the second vision of Daniel, four beasts which 
rise one after another, are made the symbols of the suc¬ 
cessive empires of Babylon, Persia, Macedon, and Rome. 
Upon this expositors are agreed. 

1. In identifying these beasts with the powers they 
symbolize, the first thing to notice is the historical order 
of succession. The first Beast that rises, of course sym¬ 
bolizes the empire that rises first in the order of time. 
No one would make the first Beast symbolize Persia, the 
second empire, or make the second Beast symbolize 
Babylon, the first empire. 

Hence, any facts mentioned which enable us to deter¬ 
mine the historical order of events may be very important 
elements in identifying the symbol with the power it sym¬ 
bolizes.—These identifying facts, for want of a better 
name, I term Historical Marks. 

2. Furthermore, in prophetic symbolism, symbols are 
chosen which resemble, in character , the power symbol¬ 
ized. Thus, a lion is made the symbol of the Babylonian 
empire, and a bear, of the Persian empire; because those 
wild beasts resemble, in character, the empires they sym¬ 
bolize. These resemblances in character between the 
symbol and the power symbolized, I term Parallelisms 
of Character. 

But Historical Marks and Parallelisms of Character do 
not always sufficiently designate the power represented by 
the symbol.—And hence, in symbolic prophecy, another 
means of identity is also employed: certain facts are 


LION IDENTIFIED WITH BABYLON. 163 

stated respecting the symbol, which represent correspond¬ 
ing facts that are true of the power symbolized. These 
points of resemblance in respect of facts, I term Coin¬ 
cidences of Fact. 

Let us now observe the manner in which the Lion is 
identified with the Babylonian empire, —by Historical 
Marks—by Parallelisms of Character—and by Coincidences 
of Fact. 

I. THE LION WITH EAGLE’S WINGS. 

The following is the text: 

“ And four beasts came up from the Sea, diverse from 
one another. 

“The first was like a lion, and had eagle’s wings. 

“ I beheld till the wings thereof were plucked; 

“ and it was lifted up from the earth, and made to stand 
upon its feet like a man, and a man’s heart was given to it.” 

Daniel vii: 3, 4. 

All expositors are agreed that the Lion is the symbol 
of the Babylonian empire. We will, by way of illustra¬ 
tion, identify it by Marks, by Parallelisms of Character, 
and by Coincidences of Fact. 

1st. Historical Marks. 

First Mark:—There is only one important Mark 
which aids the expositor in identifying the Lion with 
Babylon. But it alone is sufficient. Babylon was the 
first of the four great empires which arose in succession; 
and we would naturally expect the first of the four beasts 
to be the symbol of Babylon. 

It is apparent that this Mark alone would not be 
sufficient to identify Babylon as the power symbolized by 
the Lion. The evidence is cumulative. The Marks, the 
Parallelisms and the Coincidences, all go to establish the 
identity. And when all four of the beasts are thus idenli- 


164 DRAGON, SYMBOL OF MONEY POWER. 

fied with the powers they symbolize, the force of the 
Historical Mark becomes intensified. For we know that, 
if the other beasts symbolize respectively Persia, Macedon 
and Rome, then, most certainly, the first beast symbolizes 
Babylon. 

In some of the symbols of prophecy, however, the Histor¬ 
ical Marks are quite numerous. 

2 nd. Parallelisms of Character. 

There are several Parallelisms of Character between the 
Lion with Eagle’s wings and the Babylonian empire: 

First Parallelism of Character:— The Lion is a 
ferocious carnivorous wild beast.—The. Babylonian empire, 
under its founder Nebuchadnezzar, was a sanguinary 
conquering empire, ravening and destroying among the 
nations, like a lion among flocks and herds. 

Second Parallelism of Character:— The Lion is a 
magnanimous wild beast. —Unlike the tiger and the leopard, 
which raven with the mere lust of slaughter, it only 
destroys to appease hunger.—The Babylonian empire only 
assailed and conquered the countries which resisted its 
possession of the great trade between the East and the 
West, leaving all other nations in peace. And Nebu¬ 
chadnezzar sought, first, to treat the subject nations of the 
West with leniency, and was only provoked to severity by 
repeated revolts. 

Third Parallelism of Character:— The Lion had 
Eagle's wings. —The lion lies in wait for its prey, and 
springs upon it from ambush. To indicate that this was 
not the case with this symbolic Lion, it was furnished 
with Eagle’s wings.—These Eagle’s wings show the rapid¬ 
ity of the conquests of Nebuchadnezzar. At the head of 
his Chaldean horsemen, the conqueror overran in a few 
campaigns Syria, Palestine, Egypt, and North Africa as 
far as the Straits of Gibraltar. 


LION IDENTIFIED WITH BABYLON. 


165 


3 rd. Coincidences of Fact. 

Besides the above Parallelisms of Character, there are 
mentioned two Coincidences of Fact respecting the Lion 
with Eagle’s Wings, which represent corresponding facts 
in the history of the Babylonian empire. 

First Coincidence of Fact :—“Ibeheld till the Eagle's 
wings were plucked." —The plucking of the Eagle’s wings, 
of course prevented the Lion from sweeping on any 
longer in its career of conquest. Deprived of the Eagle’s 
wings, the Lion henceforth would be like other lions, and 
lurk in its habitat, lying in wait for prey. The plucking 
of the Eagle’s wings indicates a sudden event which 
stopped, once for all, the Babylonian career of conquest. 
The conquering career of Babylon was terminated by the 
madness of Nebuchadnezzar. That event plucked the 
wings of the lion ; and henceforth, Babylon remained con¬ 
tent in the enjoyment of the wealth and grandeur derived 
from its possession of the grand commerce between the In¬ 
dian Ocean and the Mediterranean, which (lowed through 
the city. 

Second Coincidence of Fact:—“// was made to 
stand on its feet like a man, and a man’s heart was given to 
it." —In some of the has reliefs from Nineveh, we see the 
hunted lion rearing upon its hind feet, confronting the 
hunters, whose spears are transfixing it.—In its fall, 
Babylon was like the hunted lion. For years, it held the 
conqueror at bay behind its city walls, standing like a 
lion upreared against the hunters. During all the siege, 
Babylon had the man’s heart, afraid to meet the foe in the 
open field. But it fell fighting, and hopeful of victory to 
the end. 

Now, by this one Historical Mark, these three Parallel¬ 
isms of Character, and these two Coincidences of Fact, 
all expositors agree that the Lion with Eagle’s Wings is 


166 DRAGON, SYMBOL OF MONEY POWER. 

sufficiently proved to be the symbol of the Babylonian 
empire. 

II. THE PERSIAN BEAR. 

In the same way, the Bear is proved to be the symbol 
of the Persian empire. 

The following is the text: 

“And behold another beast, a second, like unto a bear. 

“And it raised up itself upon one side. 

“ And it had three ribs in its mouth between its teeth. 

“And they said thus unto it, ‘Arise, devour much 
flesh.’” Daniel v ii: 5. 

1st. Historical Marks. 

There is one Historical Mark which aids in identifying 
the Bear with the Persian empire : 

Historical Mark :—As the Persian empire was the sec¬ 
ond empire in the order of succession, we naturally are 
led to expect that the second beast is its symbol. 

2nd. Parallelisms of Character. 

There are two Parallelisms of Character between the 
Bear and the Persian empire;— 

First Parallelism of Character:— The Bear is not 
an exclusively carnivorous animal: it subsists largely on 
vegetables and fruits.—This shows the bear to be less fe¬ 
rocious than the lion and other carnivorous animals.—And 
the Persian empire was the mildest of all the empires of 
ancient times. It treated the conquered nations with 
greater leniency. It suffered the people carried into cap¬ 
tivity by Babylon, to return to their own countries. It 
allowed the Phoenicians to resume their trade by way of 
the Red Sea. The countries desolated by Babylon re¬ 
sumed their prosperity under Persian rule. 

Second Parallelism of Character:—• The Bear is a 
clumsy, slow moving animal. —So, the Persian empire was 


BEAR IDENTIFIED WITH PERSIA. 167 

slow and clumsy in its military movements. Great num¬ 
bers of women and children accompanied its armies; and 
the officers carried with them all the appliances of luxury. 
All military movements were impeded by the vast quanti¬ 
ties of baggage which were carried with the armies. 

3rd. Coincidences of Fact. 

The Bear is also identified with the Persian empire by 
three Coincidences of Fact. 

First Coincidence of Fact:—“ The bear raised up 
itself on one side.” —Persia was on the Eastern side of the 
empire, and all the conquests of the Persians, in founding 
the empire, were made toward the West. The Persian 
empire, like the bear, “raised up itself on one side.” 

Second Coincidence of Fact:— The Bear “had three 
ribs in its mouth between its teeth.” —These ribs indicate three 
victims fallen prey to the Bear.—The Persian empire, in 
its rise, overthrew three powers, —Lydia, Babylon and 
Egypt. 

Third Coincidence of Fact :—“It was said unto it, 
Arise, devour much flesh.” —The bear was thus indicated 
to be an animal very destructive of human life.—The Per¬ 
sian empire conquered many countries not under the Bab¬ 
ylonian yoke. It extended its conquests far to the North, 
and East and South; it subdued all Asia Minor; and its 
invading armies penetrated into Greece, and the plains of 
Southern Russia.—And, during its entire existence, the 
Persian empire was convulsed with frequent revolts. The 
conquests and the revolts occasioned very destructive wars. 

By this Historical Mark, these two Parallelisms of Char¬ 
acter, and these three Coincidences of Fact all expositors 
agree that the Bear is proved to be the symbol of the Per¬ 
sian empire. 


DRAGON, SYMBOL OK MONEY POWER. 


168 


Chapter III. 

PROOF THAT THE DRAGON IS THE SYMBOL 
OF THE LONDON MONEY POWER. 

By the illustrations given in the last chapter, the reader 
can perceive the method by which the symbols of proph¬ 
ecy are identified with the powers they symbolize. We 
are now ready to proceed to 1 identify the Dragon as the 
symbol of the London Money Power. 

And here, I wish to say that, if there were not more 
evidence to prove that the Dragon is the symbol of the 
London Money Power, than there is to prove the identity 
of the other symbols of prophecy with the powers they 
symbolize, I should not venture to advance the idea at 
all, in this age of general scoffing of prophecy. 

But there is about eight times as much evidence to prove 
that the Dragon is the symbol of the London Money Power> 
as there is to prove the identity of any other prophetic sym¬ 
bol with the power it symbolizes.—There is one Historical 
Mark, three Parallelisms of Character, and two Coinci¬ 
dences of Fact, to prove that the Lion with Eagle’s Wings 
is the symbol of the Babylonian empire; and one Histor¬ 
ical Mark, two Parallelisms of Character, and three Coin¬ 
cidences of Fact, to prove that the Bear is the symbol of 
the Persian empire.—But, on the other hand, there are no 
less than six Historical Marks, twenty Parallelisms of Char¬ 
acter, and twenty-two Coincidences of Fact, to prove that the 
Dragon is the symbol of the London Money Power. It 
seems as though divine inspiration had.purposed to give 
such an array of evidence to establish the fact that the 
Dragon is the symbol of the Money Power, as would force 
conviction upon the most incredulous. 

The Marks, the Parallelisms of Character, and the Coin- 


FIRST PROOF: HISTORICAL MARKS. 1 69 

cidences of Fact, which prove that the Lion with Eagle’s 
Wings is the symbol of the Babylonian empire, and the 
Bear, of the Persian, are not very striking;—but the His¬ 
torical Marks, the Parallelisms of Character, and the Co¬ 
incidences of Fact, which prove that the Dragon is the 
symbol of the London Money Power, are, all of them, 
striking, and some of them very remarkable—so remark¬ 
able, indeed, that no idea of a chance resemblance can 
be entertained for a moment. They prove that Divine 
inspiration intended thus to mark the Dragon unmistaka¬ 
bly as the symbol of the London Money Power. It is 
evident that Divine Providence wished to make the proof 
of the identity of the Dragon with the Money Power so 
certain that none can doubt; but that, as it is said in an¬ 
other prophecy of the Dragon in the Old Testament, “He 
who runs may read.” The proof dispels all doubt, and 
compels belief. 

As the world may be slow to accept the fact that the 
Dragon is the symbol of the Money Power, I shall array 
the evidence in regular order, even at the risk of seeming 
tedious. 

I. FIRST PROOF THAT THE DRAGON IS THE SYMBOL 
OF THE LONDON MONEY POWER: HISTORICAL 
MARKS. 


1st. Recapitulation. 

Let us now briefly review the facts respecting the Seven 
Heads and Ten Horns: 

1. The angel says of the seven heads, “ There 
are seven kings” that is, kingdoms or empires. Of these 
seven empires he says, “five are fallen.”—These are the 
Egyptian, the Assyrian, the Babylonian, the Persian, and 
the Macedonian empires, which had all fallen at the time 
the vision was given. 


I JO DRAGON, SYMBOL OF MONEY POWER. 

2. The angel continues, “ And one is." This was 
the Roman empire, which was in existence at the time 
when the Revelation was given. 

i) Immediately after the fall of the Roman empire, ten 
Barbarian kingdoms were planted in its territories, which 
have been in existence ever since. These Ten Kingdoms 
are symbolized by the Ten Horns which grew upon the 
dead Sixth Head of the Beast. 

3. The angel continues, '■'■And the other, [the Seventh 
Head] is not yet come; and when he someth he must continue 
a short space." —This is the Dragon head; and, as I shall 
prove, it symbolizes the London Money Power. 

4. The angel then proceeds to explain the 
Beast from the Pit as an Eighth empire, but 
not an eighth head, being the Sixth Head come to life 
again, or the Roman empire re-established.—This Eighth 
empire, as we have seen, is the empire of Prussia at the 
head of Germany, extended over Southern and Western 
Europe. 

5. The Dragon gives to Prussia its imperial 
dominion, as we learn from the 13th Chapter of Rev¬ 
elation : "The Dragon gave to the Beast his power, and his 
seat, and great authority." 

6. “And then the prophet saw that the Dragon 
and the Beast wielded a united imperial sway 
over the empire : ” they worshiped the Dragon which 
gave power unto the beast: and they worshiped the beast say¬ 
ing, who is like unto the beast? Who is able to make 
war with him?” 

2nd. Six Important Historical Marks 

are here found, which will go far toward enabling us to 
identify the Dragon empire:— 

First Mark:— The Dragon empire is the seventh empire 



SIX HISTORICAL MARKS OF DRAGON. 


171 


in order of time .—Hence it is an empire which rises after 
the fall of the Roman empire, 476 A. D. 

Second Mark :—The Dragon empire, “ When he cometh 
must continue a short space." 

1. Both of these marks prove that the Dragon empire 
is not the Papacy: for 1) The Papacy rose in the Pon¬ 
tificate of Leo the Great (440 A. D.—4C0 A. I).) before 
the fall of the Western Roman empire; and 2) The 
Papacy, instead of continuing “a short space,” has been 
in existence more than 1,400 years. 

Leaving the Papacy aside, what empire has risen since 
the fall of the Roman empire, 476 A. D.? 

2. It can not be the empire of Charlemagne; nor that 
of Charles V; nor that of Napoleon 1 . For those empires 
were only the temporary rising into power of one of the 
horns; and in each instance the access of power contin¬ 
ued only for a generation. The nature of the symbol 
precludes the idea that either of these empires could be 
the Seventh Head; for, as has been said, a horn can not 
become a head. The ten horns are all upon the Sixth 
Head : they are all accounted for : from the nature of the 
symbol, neither of them can be the Dragon. 

3. Aside from these empires and the Papacy, no em¬ 
pire has risen in Europe since the fall of the Roman 
empire, 476 A. D., except the Money Power of London. 
It is the seventh empire of the earth. It is the grandest 
Imperialism that has ever existed in the world.—This 
is especially an age of industry; and it has established an 
empire over industry, of which it is the head. It is at the 
head of the mighty movement of the age in which the 
whole world is marching. The kingdoms of Europe are 
all dependent upon it for loans. They all truckle to it, 
and do its will. They are kingdoms: it is an empire.— 
Being the one empire that has risen since the fall of the 


1 -J 2 DRAGON, SYMBOL Of MONEY BOWER. 

Roman empire, it is the seventh empire: and this Mark 
proves it to be the power symbolized by the Dragon. 

That the Dragon empire is the London Money Power 
is corroborated by the other Historical Marks mentioned 
of the Dragon :— 

Third Mark:— The Dragon empire is a power of modern 
times. —In the 13th Chapter of Revelation it is cotemporary 
with the h aled head, or Beast from the Pit,—the Prussian 
empire. And all expositors agree that the Beast from 
the Pit is a power that has not yet risen. In the 13th 
Chapter of Revelation, the Dragon isrepresented as aiding 
in the rise of the empire of the Beast from the Pit, and 
as wielding with it a partnership imperial sway.—The 
The Dragon empire is certainly a power of modern times, 
existing cotemporaneously with the Beast from the Pit, a 
power that has not yet risen. This agrees perfectly with 
the Money Power, which has also risen in modsrn times. 

Fourth Mark:— The Dragon is represented , in the 13 th 
Chapter of Revelation, as attaining its highest power at a 
time yet future. —This agrees with the Money Power, 
which is, in our time, rapidly rising in power, and will 
reach its highest point of dominion at some time yet 
future. 

Fifth Mark :— The Dragon empire is the Seventh head: 
the Beast from the Pit, or Prussian empire, is the eighth, in 
order of time.—Therefore itrises after the Dragon empire; 
the Dragon empire being in existence at the time of its 
rise, and aiding it to attain its imperial dominion. Hence, 
if the Prussian empire is about to be established in the 
near future, the Dragon empire is now in existence.— 
And as the Money Power is the only such imperial power 
now in existence, it must be the Dragon. 

Sixth Mark:— The Dragon empire was only to continue 
a short space. —And, as it is in existence at a time yet 
future, according to prophecy, its rise to imperial dominion 


DRAGON IS MONEY POWER. 


r 73 


can not be very far in the past.—This agrees with the 
Money Power, which, as we have seen, rose to imperial 
dominion in the year 1757, A. D., and has now been in 
existence one hundred and thirty years. 

The Dragon Agrees With the Money Power 
in all these particulars. There is no other power now in 
existence that agrees with these Marks in any particular. 
The Historical Marks of the prophecies point unmistakably 
to the Money Power as the imperialism symbolized by 
the Dragon. 

This Far, the Conclusions Reached Are Sure. 
It is impossible to dispute them. The clear statements 
of prophecy are irresistible.—1) It is certain that the 
Roman empire is not yet re-established.—2) It is certain 
that the Dragon empire is in existence before the re-estab¬ 
lishment of the Roman empire, and aids in its re-establish- 
ment. — 3) It is certain that, if the Roman empire is 
about to be re-established at an early day, the Dragon 
empire is now in existence.— 4) It is certain, as the 
Dragon empire is to “continue only a short space 1 ' that, 
as it is in existence at a time yet future, it has risen to 
imperial power in very recent times.—5) It is certain 
that the Dragon is a power of modern times. 

On the other hand, the Money Power is the only great 
Imperialism that is now in existence.—The Money Power 
is an Imperialism that has not been long risen.—The 
Money Power is an Imperialism that is still rising.—The 
Money Power is an Imperialism which has, by its loans, 
enabled Prussia to crush Austria and France, and to be¬ 
come the first power in Europe; and which, according 
to present indications, will soon, by its loans, enable 
Prussia and her allies, Britain, Austria and Italy, to crush 
Russia and France, and attain to imperial dominion over 
Southern and Western Europe, and thus re-establish the 
Roman empire. — And just as the Money Power has 
wielded the power of Britain in the past, it will wield the 



174 DRAGON, SYMBOL OF MONEY POWER. 

power of Prussia, the Beast from the Pit, in the future.— 
All these Marks point unmistakably to the Money Power 
as the Imperialism symbolized by the Dragon. 


Chapter IV. 

PROOF THAT THE GREAT RED DRAGON IS 
THE SYMBOL OF THE MONEY POWER, Con¬ 
tinued. 

II. SECOND PROOF:—PARALLELISMS OF CHARACTER. 

1st. What is a Dragon? 

A great error has obtained as to the personality of a 
Dragon. During the ignorance and superstition of the 
Middle Ages, the idea of a mythical Dragon arose, which 
resembled a winged crocodile. But the historical dragon 
of antiquity, which was the universal conception of a 
dragon prevailing at the time the Revelation was given, 
was a great serpent. 

A fact is mentioned in the early history of Rome which 
shows what was the classical and historical idea of a 
Dragon.—When the Roman army, under Regulus, in¬ 
vaded the Carthaginian territories in North Africa, a great 
dragon appeared in the neighborhood of the Roman camp, 
and devoured a number of the soldiers. The Romans 
were greatly terrified, but finally killed the monster by 
hurling stones upon it with their balistas. This dragon 
was undoubtedly a boa constrictor, which bad found its 
way across the desert from Central Africa. The Dragon 
of Revelation, then, was a great red serpent. 

2nd. Parallelisms of Character. 

We have seen that certain things in the natural world 
are chosen by Divine inspiration, to symbolize the powers 


PARALLELISMS OF CHARACTER. T 75 

they set forth, on account of a resemblance in character 
between the symbol and the power symbolized.—Thus, 
the Great Red Dragon is chosen by Divine inspiration to 
symbolize the London Money Power, because, in all the 
realm of nature, nothing but a great serpent resembles the 
Money Power, in its character, and its modes of action. 
In its character, and all its activities and methods, the 
Money Power is like a snake. 

The Great Red Dragon, like all great serpents, belongs 
to the constrictor species. We must, therefore, look to the 
Boa Constrictor for the points of character and action, 
in which the parallel is to be found. Prophecy represents 
the Money Power as a great Serpent, with its den in 
England, but its body extending in mighty coils all over 
the earth. 

First Parallelism of Character: —The dragon is a 
devourer. The Boa Constrictor, when it has devoured a 
sheep or a deer, remains torpid until its meal is digested : 
then it lives for nothing else but to lie in wait, watching 
for another victim. Its whole sluggish life is absorbed 
in devouring. 

So the Money Power is a devourer of industry, com¬ 
merce, wealth and property. It lives for nothing else but 
to accumulate. It differs from a Boa Constrictor only in 
its inordinate size. A Boa Constrictor, if it swallows a 
sheep, is torpid for a time, till its meal is digested;—but 
give it a mouse, and it is still hungry and wants more. 
This Great Dragon, the Money Power, is so vast, that it 
can never be gorged to repletion. It is devouring indus¬ 
try, trade and property, all over the earth, and it never 
has enough. The inspired prophet, speaking of this Money 
power, says, “He enlargeth his desire as hell, and he is 
as death, and can not be satisfied, but gathereth unto 
him all nations, and heapeth unto him all people.” 

We have seen how the Money Power is devouring all 



176 DRAGON, SYMBOL OF MONEY POWER. 

over the earth. It is devouring in Europe—in India, and 
all over Asia—in Egypt, South Africa, on the Congo, and 
wherever Africa is penetrated—in South America—in 
Mexico and Central America—in Canada—in the United 
States—in Australia, and the Isles of the ocean. Every¬ 
where it is devouring the industry and wealth of the 
earth. It aims to devour all industry,—all manufactures— 
all banks—all shipping—all railroads—all commerce—all 
traffic, import and export, internal and foreign, wholesale 
and retail—all transportation—all mines, of coal and iron 
and silver and gold—all oil wells—all city property—all 
farms—and all the wild lands of the world. 


Besides the fact of its being a devourer, there is a cer¬ 
tain method in its devourings that identifies the Dragon 
with the Money Power. These points of similarity I point 
out in the several Parallelisms of Character next follow¬ 
ing:— 

Second Parallelism of Character :—Unlike the lion 
or the tiger, which spring upon their prey with a roar, so that 
all the neighborhood knows when the victim is destroyed, 
the Serpent steals secretly upon its victim, and seizes it noise¬ 
lessly. 

So the Money Power is sly and secretive in its methods, 
and steals upon its victims secretly, and destroys them 
without noise or struggle. The secret sly methods of the 
Money Power are exemplified in every assault it has made 
upon our industries. Thus it stole upon the merchants of 
New York City—the oil well owners of Pennsylvania—the 
operators in beef, pork, cotton and all the various business 
enterprises it has devoured. So silently, so stilly is it now 
stealing on the cattle ranches—the coal mines—the retail 
merchants—the breweries—the flour mills—the farmers— 
and all the business interests it is now devouring. 


MONEV rOWER LURES, CRUSHES AND DEVOURS. 177 

Third Parallelism of Character:— The serpent charms 
its victims, and lures them to their doom. 

So the Money Power has charmed and is charming the 
world, with the lure of its money. It lures people from 
all over the world to its London den, to get money to 
build railroads, and water works, and gas works—and, in 
the end, all that was built with the money it devours.—It 
lures miners after money to develop mines: and it crushes 
the miner and devours the mine.—By starting a boom in 
cattle, it lures farmers, merchants, mechanics, to borrow 
money on mortgaged property and put it into cattle ranch¬ 
es : and then it devours the mortgaged property, and the 
ranches in which the borrowed money was invested.—By 
starting booms in cities and towns, it lures all classes who 
have property, to borrow money on mortgage and invest 
it in town lots: and then it devours both the mortgaged 
property, and the boom investment. 

Fourth Parallelism of Character ‘.— Unlike the lion 
and the tiger, and all other beasts of prey, which rend and 
tear their victims in furious assault, the Boa destroys its prey 
by enveloping it in its coils, and crushing it. 

So the Money Power always envelops the industry it as¬ 
sails in the coils of its capital, and crushes it by constric¬ 
tion.—Thus it enveloped the oil industry—the New En¬ 
gland Mills—the New York merchants—and all the in¬ 
dustries it has devoured. In every instance, it used its 
immense capital in such a manner as to crush the opera¬ 
tors instantly, as the boa constrictor crushes its victim in 
its coil.—The method of the Money Power is identical 
with that of the Boa. 

Fifth Parallelism of Character:— The Boa Constric¬ 
tor crushes only to devour, and devours all it crushes. —In this 
it is unlike the tiger or the leopard. The tiger will de¬ 
stroy forty sheep, and cat only one; or will kill half a 
dozen bullocks, and devour only a part of a single car- 


178 DRAGON, SYMBOL OF MONEY POWER. 

cass. In this they resemble political despotisms, of which 
such wild beasts are made the symbols. For such polit¬ 
ical powers wage grand and destructive wars, and in the 
end, the conquering state gains only a petty acquisition. 
Thus, all the grand wars of the first Napoleon ended in 
hut small accessions of territory: Prussia, after crushing 
France, gained only Alsace-Lorraine. 

This is unlike the Money Power which, like the ser¬ 
pent, attacks only to devour, and devours all it attacks. 
It never attacks any business interest, unless it means to 
devour it. It did not attack the New England Mills, or 
the iron interests of Pennsylvania, till the time came for 
them to be devoured. A caged Boa will leave the rabbits 
in its cage unharmed for days, till it is ready to devour 
them. So the Money Power will work side by side with 
business interests for years, without showing any hostility, 
till the time comes when it is ready to take possession of 
them; and then, it makes its attack suddenly, and crushes 
them inexorably. We find illustrations of this, in all the 
operations of the Money Power in this country. It has 
never assailed an American business which it did not de¬ 
vour. It is now assailing the cattle men—the lumber 
men—the wholesale merchants—the retail merchants— 
the farmers, and other business interests; and is crushing 
them; and, unless its career be arrested, it will devour 
them all, as it did the New York merchants and the oil 
well owners. 

Sixth Parallelism of Character :—The Boa always 
has to beslime its victims, before it can devour them .—It 
pounces upon a deer and crushes it, bones, flesh and 
tissues, till all within its hide is perfectly soft. Then, 
before beginning to swallow the victim, it beslimes it 
from head to foot; when it begins to swallow gulp after 
gulp, until the entire victim is engorged in its maw. 


MONEY POWER PARALYZES VICTIMS. 179 

Thus the Money Power always beslimcs its victims with 
the slime of its capital before devouring them. Thus it 
beslimed our railroads with construction capital—our 
mines with capital, to develop and operate them—blocks 
of city property and broad areas of farming lands, with 
mortgages.—The Money Power always beslimes every¬ 
thing with its capital, before devouring it; and it surely 
devours all business, and all property, it is allowed to 
beslime. 

Seventh Parallelism of Character :—The Serpent's 
victims are paralyzed and powerless to resist. 

It is one of the most remarkable phenomena in the 
destructions of the Money Power, that none of its victims 
have ever been able to make the slightest rcsistence. 
There is always a conflict in ordinary trade contests, be¬ 
fore one of the parties is crushed. But the victims of the 
Money Power never resist: they are paralyzed in the coil 
of the python, and submit quietly to their fate. Thus the 
New York merchants, the oil well owners, the mill owners 
of New England, the cattle companies, and all whom the 
Money Kings have crushed have submitted to their fate 
as quietly as a rabbit in the coils of a boa. This paralysis 
of its victims is one of the reasons why the destroying 
career of the Money Power has attracted so little attention. 

Eighth Parallelism of Character :—The Serpent 
swallows its prey whole .—In this it is unlike all other beasts 
of prey. The lion, the tiger and all other beasts of prey 
devour their prey a mouthful at a time, and leave the 
bones and horns and hoofs. And they always leave a 
portion of the prey to the jackals and other beasts that 
follow their footsteps. 

The Money Power is like the serpent in this regard. 
It always takes entire possession of every industry it 
seizes upon. It did not content itself with dividing the 
business with the New York merchants, or the oil weil 


8o 


DRAGON, SYMBOL OF MONEY POWER. 


owners;—it devoured the entire business. So with every 
business: it never divides with previous competitors; it 
devours the whole business it takes possession of.—It 
never will engage in any business, unless it is put into a 
joint stock company; and it always demands the con¬ 
trolling interest in the stock, before it will invest. And 
then it is only a question of time when it will devour 
it all. 

Ninth Parallelism of Character:— The lion and the 
tiger gorge their prey at once: unlike them, the serpent is a long 
time swallowing its prey: it requires many gulps before it is 
finally engulfed in its maw. 

In this characteristic, the serpent strikingly resembles 
the Money Power. As has been said, these Money Kings 
always want a controlling interest in an enterprise before 
they will invest, and then they begin a systematic process 
of gulping down the remaining stock of the company. 
They never buy up all property in an enterprise at once. 
They begin with a mere start, as the serpent begins with 
the head of its victim; and then they keep on devouring 
till they have swallowed the whole.—Thus, they began 
with a few wells in the oil region, to start the business: 
afterward, they kept on devouring till they had swallowed, 
; t a u_—So in a gold or silver mine, they must always 
have a controlling interest in the stock; and then they 
begin systematically to freeze out the other stockholders. 
—This small beginning and persistent continuance in 
devouring, till all is engorged, is not the. least striking of 
the parallelisms between the Dragon and the Money 
Power.—Who can doubt that Divine inspiration meant 
by the Great Red Dragon to set forth the London Money 
Power ? 

The Serpent is chosen by Divine inspiration to be the 
symbol of the London Money Power, because, in all the 
realm of nature, the serpent alone perfectly resembles the 



CHARACTERISTICS OF MONEY POWER I-CRAET. I 8 f 

Money Power. In its character, as well as in its pro¬ 
cesses, and methods and modes of activity, the Money 
Power is like a snake. 


We have seen the striking parallelisms between the 
Money Power and the Serpent, exhibited in its methods 
of devouring: let us now mark some of the parallelisms, 
in disposition and intrinsic character. 

Tenth Parallelism of Character :—The serpent is 
the synonim of worldly wisdom, craft and cunning: “ wise 
as a serpent." 

The Money Power displays the wisdom of the serpent 
in all its policy—in its entire career. It never takes a step 
that is not thoroughly matured. It never alarms its victim 
by a premature attack. Its assaults are always made on a 
well considered plan, and have always been successful.— 
How skillful its attack on the oil wells! first building a 
railroad, and then constructing a pipe line to it. How 
thoroughly matured the plan! how skillful the execution! 
Like the combinations of a great military genius, the 
movement was irresistible!—What consummate skill in its 
mode of getting possession of the railroads, by first mort¬ 
gage bonds for the iron! first furnishing the money to 
build the road bed, on city and county bonds that had to 
be paid; then getting possession of the railroads upon 
first mortgage bonds for the iron!—How wise its attack on 
the New York merchants! by establishing branch houses, 
and then starting drummers to take away their trade!— 
How crafty their booms! building up a city by lavish ex¬ 
penditure of capital, and getting multitudes to invest and 
make partial payments, and then stopping all investment 
and letting the boom collapse; so that, when prices fall, 
they can take back the property for the remaining pay¬ 
ments, and have it all ready for the next boom!—Still 


182 


DRAGON, SYMBOL OF MONEY POWER. 


more crafty their booms in small towns, where they buy 
the land around a country village, build up the town to 
fifteen thousand in a couple of years, and so make the 
world believe it will be a city of one hundred thousand 
inhabitants; and when the gulls have bought prairie lots 
at high prices, let the boom drop, pocket the money 
made, and take back the lots, for final payments! 

But why particularize? They never make a blunder. 
All their acts are marked by wonderful skill and wonder¬ 
ful wisdom. But if there is any act showing most con¬ 
summate craft and skill, it is their wonderful attack on the 
New England Mills. We have a saying, “ Sharp as a 
Yankee.” But these Jew Money Kings far surpass all 
American shrewdness. American wisdom had exhausted 
itself in devising measures for the protection of the New 
England Mills from the competition of foreign merchants. 
But these Money Kings found a flaw in our system of pro¬ 
tection, through which they crept like a serpent, and 
enmeshed the New England Mills in the coils of their 
capital, and crushed and devoured them. And they did 
it all so skillfully, so quietly, so secretly, that, to this 
day, nobody knows it was done! 

The serpent is wiser than all the beasts of the field; 
and it only, is a fit symbol of this crafty secretive de- 
vourer. The Money Power is a veritable embodiment 
of the wisdom of the serpent. 

Eleventh Parallelism of Character :—The serpent 
hides in the grass. 

So the Money Power systematically hides its operations 
from the eyes of mankind, in such a manner that its path 
can hardly be traced. It always operates through joint 
stock corporations, in which its identity is concealed under 
the agencies it establishes. The stockholders of these 
corporations are the London Jew Money Kings. But 
they elect directors and officers in the country where the 



CHARACTERISTICS, CONTINUED : HIDES ACTIONS. 183 

corporations are established; and the people believe that 
the men who manage the corporations are their owners.— 
The Money Kings put a man at the head of a railroad 
system, as its ostensible owner, and the public does not 
suspect that the owners are in London.—They loan money 
by billions of dollars, on city property and improved 
farms, through their agencies, and make the public be¬ 
lieve that it is American capital.—They ruin business, and 
own property all over the country, and yet manage to 
conceal their identity. 

They have induced government to fix the laws of joint 
stock corporations, with the special purpose of conceal¬ 
ing their identity.—All other real estate is transferred on 
record books open to public inspection. These joint stock 
corporations own real estate in railroads and city prop¬ 
erty, in business houses in which they'transact their busi¬ 
ness, in improved farms, in wild lands;—and yet the 
stocks which represent all this real estate are treated by 
the law as personal property, and are transferred like a 
horse, or any other personal property. All transfers of 
stock are made on the books of the company, and the 
public is never allowed to know who the stockholders are. 
The whole system of laws regarding joint stock corpora¬ 
tions has been devised for the special purpose of conceal¬ 
ing the stockholders from the public.—As a snake hides 
in the grass, so the Money Power systematically hides its 
operations and its existence, behind the concealment of 
joint stock corporations. 

Indeed, when this hiding secretive Money Power, al¬ 
ways seeking concealment, is now presented as an Imperi¬ 
alism actually existent in the world, all are astonished, and 
wonder how such a terrible Imperialism could have risen 
in the earth, and mankind be kept in utter ignorance of 
its existence. It is now overshadowing the whole earth 
with its monopolies of trade and industry, and has almost 



184 DRAGON, SVMBOL of money power. 

ruined the world, and yet its existence is unknown. How 
strikingly like a serpent hiding in the grass! 

The trail of a snake can never be found, except where 
it crosses a dusty road. So, it is only at death where 
evidence can usually be found that a man is the agent of 
the Money Power. If A. T. Stewart were still living, he 
would be universally believed to be worth over $100,000,- 
000. His death revealed him as the agent of the Money 
Power, The track of the serpent could only be found as 
it ran across his grave. So, the death of Jim Fisk re¬ 
vealed the fact that he and his partner, Gould, instead of 
being the owners of the Erie railroad, were the agents 
of the Money Kings.—The Money Power hides all its 
operations under the guise of agencies. 

Who can doubt that it is the crafty, secretive hiding 
Money Power which is symbolized by the Dragon ? 

Twelfth Parallelism of Character :—The serpent 
crawls on his belly. The curse of baseness was fixed upon 
it at the beginning. 

The whole course of the Money Power is a tissue of 
fraud, falsehood, trickery and treachery, comparable to 
nothing but a serpent crawling on its belly. Its career is 
a living lie, as it systematically hides itself behind its 
agents, pretending that they are the owners of the business 
they control. Like the garroter, it throttles and plunders 
its victims in the dark. Like the gambler, it entices its 
victims to bet in its gambling hells, the Boards of Trade, 
upon the rise and fall of stocks, and the rise and fall of 
produce; while it holds the game in its hands, and stocks 
the cards for the robbery of its victims. It is a slugger, 
whose purse, filled with gold, is its sandbag, with which 
it strikes down in the dark its victims, in all the busy av¬ 
enues of trade. There is honor among thieves : the rob¬ 
ber is true to his “pal;”—but the Money Power syste¬ 
matically plunders its partners, freezing out minority 



CHARACTERISTICS, CONt’d : DESPICABLE, MALIGNANT. 1S5 

stockholders, and all men who take part in its enter¬ 
prises. 

It knows that if the world knew of its system of plunder, 
mankind would rise up against it: it therefore robs through 
agencies, and makes agencies the “cribs” where it hides 
its plundered goods. Its whole career, from the first, has 
been a tissue of lying, robbery, fraud and concealment. 
It has acted falsehood in the past, to hide its trail: And 
now that it is discovered, and exposed to the eyes of the 
world, it will no doubt attempt to escape, like the scuttle 
fish, by making the waters around it inky black with false¬ 
hood, causing its minions to swear in the columns of the 
press, that its existence is a myth, that the discovery of it 
is a ‘ 'mare’s nest, ” and that this exposure of i t is all imagina¬ 
tion.—The Money Power is always a snake crawling on its 
belly. Its whole life is a living lie. 

Thirteenth Parallelism of Character: — The serpent 
is a cold blooded malignant beast. 

In this it strikingly resembles the Money Power, which 
is without either heart or conscience; and which, in pursuit 
of its selfish aims, displays a cold blooded remorselessness, 
without a parallel in the history of the world. 

The Money Power operates entirely through vast im¬ 
perial joint stock corporations; and, in such corporations, 
there is no place for human sympathy, or a sense of in¬ 
dividual responsibility. Such a corporation has no con¬ 
science—no soul.—An individual is withheld from too 
flagrant wrong, by sympathy, by conscience, by a sense of 
moral responsibility; but no one connected with the 
management of these grand Money Power Corporations 
feels any sense of personal responsibility. The stock¬ 
holders feel none; for they are away off in London, and 
do nothing but elect the directors. The directors feel no 
sense of personal responsibility; for they are not prin¬ 
cipals, but only agents; and they simply appoint the 


1 86 DRAGON, SYMBOL OF MONEY POWER. 

officers and leave the management to them. The officers 
feel that they have no individual responsibility, because 
they are under orders, like the officers of an army, and 
are not acting for themselves, but for the directors and the 
stockholders. They come to feel that their only duty is 
to take care of the interests of the corporation.—The 
management of these imperial corporations is utterly 
selfish, without a tinge of sympathy or generosity. 

This does not apply to ordinary business corporations, 
where individuals incorporate themselves into a company 
for the transaction of business. There are many advantages 
in such an incorporation, and it is free from objection. 
In such corporations, conducted as individual enterprises, 
on a moderate scale, the sense of justice influences the 
minds of the stockholders, and pervades the management, 
as much as in the individual management of business. 

But an imperial system of corporations, bent upon attain¬ 
ing a universal control of industry, and a universal 
monopoly of wealth and property, like an ambitious 
conquerer, is utterly selfish and remorseless. The cold 
blooded heartlessness of these Money Kings is glaringly 
displayed in the entire course of the Money Power. Its 
whole course is a black night of oppression, injury and 
wrong. It is as useless to attempt to particularize, as it 
is to seek the darkest cell in a dungeon, or the foulest 
corner in a lazar house. The Money Kings are bent on 
getting all the business, all the wealth, and all the property 
of the earth into their own hands: they can only do it by 
bankrupting all the business men in the world, and reduc¬ 
ing the great mass of mankind to the condition of serfs, 
subject to their will, and dependent upon them for bread; 
and they are pursuing their aim of the subjugation of 
mankind with ruthless energy.—The Money Power is as 
cold blooded, pitiless and malignant as a snake. 



RESUME Or CHARACTERISTICS. 187 

I have now presented thirteen Parallelisms be¬ 
tween the Dragon and the Money Power:— 

1. ) I have showed that, like the Boa Constrictor, 
the Money Power is a devourer. 

2. ) I have showed eight points of Parallelism 
between the serpent and the Money Power, in respect of 
the manner in which they both devour their prey. 

Both steal secretly on their prey, and destroy them si¬ 
lently; and so secretly, that the world knows nothing of 
the destruction:—both charm their victims, and cause 
them to come to them, and place themselves in their 
power:—both crush their victims in their coils, the ser¬ 
pent, of its body, and the Money Power, of its capital 
which constitutes its body:—both crush only to devour, 
and devour all they crush:—both beslime their victims 
by their secretion before devouring them, the serpent 
with slime, the Money Power with money:—both para¬ 
lyze their victims by their attack, beyond the possibility 
of resistance:—both swallow their prey whole, leaving 
nothing behind:—both swallow their prey gradually.— 
The devouring of the Money Power is, in all points, like 
the method of the serpent, and is like that of no other 
beast of prey on the earth. 

3. ) I have showed four points of Parallelism in 
Character between the Money Power and the serpent. 

Both have certain personal characteristics peculiar to 
themselves, among all the beasts of the earth, and all the 
powers that have ever risen.—Both are wise, and skillful, 
and cunning and crafty, beyond all comparison with oth¬ 
ers of their kind:—both are secretive, and habitually hide 
themselves from the eyes of men, the one in the grass, the 
other behind its joint stock corporations:—both are des¬ 
picable, false and treacherous, habitually crawling on the 
belly:—both are cold-blooded, and malignant and remorse¬ 
less. 



t88 DRAGON, SYMBOL OF MONEY POWER. 

But these thirteen Parallelisms do not exhaust 
the likeness between the Serpent and the Money Power. 
There yet remain seven other parallelisms to be mentioned. 
The proof already offered is sufficient to convince the most 
incredulous that the Dragon is the symbol of the Money 
Power. But the evidence is abundant even to nausea. I 
proceed to mention four other parallelisms between the 
Dragon and the Money Power, in respect of the modes 
of activity. 

Fourteenth Parallelism of Character ;—It was a 
“Great” Dragon.— The great Boa, unlike other wild 
beasts which appear in one spot, may stretch its long body 
afar. 

Prophecy well chooses the python as the symbol of the 
Money Power; which, while its head is in England, 
stretches its body all over the earth, embracing in its folds 
India, China, Africa, Australia, Europe, South America, 
Mexico, Canada and the United States. Everywhere, the 
body of the Boa appears. It is as active in Europe, and 
Asia and America, as in England. England is its den; 
but the Dragon is, indeed, a great Dragon; its long body 
encircles the earth, and it has everywhere enveloped in¬ 
dustry in its folds. 

Fifteenh Parallelism of Character :—The Boa, as 

it lies along, may throw its folds around many objects. 

So, the Money Power has, in its huge length, many 
folds, which encoil about many objects. We call these 
folds of the python “Rings,” or Monopolies. Each mo¬ 
nopoly is a “Ring,” formed by a fold of the serpent, 
thrown around a branch of industry, or a branch of trade. 
“The whiskey ring,” “the railroad ring,” “the oil ring,” 
“the cotton ring,” “the wheat ring,” “the cattle ring,” 
“ the coffee ring,” “ the sugar ring,” “the packing ring,” 
and all the other grand monopolies are each only a fold of 
the serpent thrown around the industry. Woe to the man 



CHARACTERISTICS OF MONEV POWER, CONTINUED. I 89 

who attempts to operate inside of one of these “Rings.” 
Instantly the coils of the Boa will be around him, and he 
will be crushed in its folds, and devoured. 

Sixteenth Parallelism of Character :— The grand 
Boa Constrictor habitually twines upon a tree , while watch¬ 
ing for victims which pass beneath. 

So, the Money Power twines about the government, 
while plundering its people. The Money Power habitually 
twines about governments. The British government is 
its servile instrument: it sways India with autocratic rule: 
the European governments yield to its will.—In our own 
country, it too often controls Congress, and State Legis¬ 
latures, by lobby influence. The lobby,—“the third 
house, ”—controls all legislation that effects the interest of 
the Money Power; procuring legislation to suit its aims, 
and preventing legislation injurious to it. Not only does 
the government leave industry defenceless in the grasp of 
the Money Power: it also, by vast land grants,* by pay¬ 
ing interest on bonds in gold that were, bylaw, to be paid 
in paper, and in various other ways, gives to it immense 
bonuses. Our country is hardly in a less degree than Eng¬ 
land in the grasp of the Money Power. 

Seventeenth Parallelism of Character:— The Boa 
Constrictor , waiting for its prey, hides in a tree, behind the 
green foliage. 

So, the Money Power hides its own bloated wealth 
under the guise of national prosperity. Thus, our people 
are deceived by the statement that the United States is 
now the richest nation in the world. The wealth con¬ 
sists, not so much in the wealth of the American people 
as, in the growth of the Money Power and its invest- 


* Our land grants to railroads cover 159,621,000 acres, or 
326,000 square miles; an area more than twice as large as Great 
Britain and Ireland, and about three times as large as Italy. 




190 DRAGON, SYMBOL OF MONEY POWER. 

ments. The Money Power has built railroads, factories, 
and city improvements; is opening up bonanza farms; 
is pushing forward with its capital many branches of pro¬ 
duction and trade ; but it owns them all. The American 
people are getting poorer: the Money Power has mort¬ 
gages upon two-thirds of our farms: the Money Power 
alone is getting rich. 

It is investing in our country the revenues it derives 
from its^vorld-wide manufactures and commerce. These 
investments increase the amount of its wealth, located in 
this country. But it is not our wealth: it is not the green 
foliage of national prosperity. It is the body of the Boa; 
and, instead of helping our people, its wealth is an engine 
of oppression, destroying Americans engaged in indepen¬ 
dent business, crushing our farmers, and devouring our 
national wealth. 

Two oaks, standing in the forest, are alike vigorous 
and flourishing. A wild ivy vine twines around and 
around one of the oaks, and girdles it from bottom to top 
in its twining folds, and wraps trunk and limbs in a mass 
of most luxuriant foliage.—How gloriously the oak seems 
to flourish.—But soon it ceases to grow:—and finally, it 
begins to wither.—But the ivy vine flourishes more and 
more luxuriantly: its twining folds around the oak grow 
larger and larger; until the tree is strangled in its clasp, 
and dies!—Our country is the oak; the Money Power is 
the twining ivy vine. Already our oak is pining. Limb 
after limb has withered and fallen. The great farming 
branch, with many others, is slowly dying. But the 
twining ivy vine,—the Money Power, with its vast possess¬ 
ions,—is flourishing; and it crowns our dying country 
with a greener foliage than in the days of our greatest 
and most real prosperity. —The serpent folds of the 
Money Power are throttling us. 



MONEY POWEK, ENEMY OF HUMAN RACE. 191 

Besides these Parallelisms, there are three others which 
show, especially, that 

The Money Power is the Enemy of the Human Race. 

Eighteenth Parallelism of Character:— The serpent 
is the immemorial enemy of the human race. 

So also, a necessary antagonism exists between the 
Money Power and the human race. 

The People Can Only Prosper by Doing the 
Business which the Money Power is doing, and covets 
to monopolize entirely. If the individuals keep the busi¬ 
ness, they prosper, and their countries flourish;—but the 
Money Power, under such conditions, will languish. On 
the other hand, if the Money Power takes the business, 
those who had it before are reduced to poverty, just in the 
degree in which the Money Power flourishes. The pros¬ 
perity of the Money Power is the ruin of the human race. 

The Money Power is hostile to the well being 
of man beyond all despotisms that have ever existed. 
It is more oppressive than any national despotism. A 
despot rules by law, and makes specific exactions by tax¬ 
ation. No despot desires to break down people in busi¬ 
ness—to plunder them of their property—to reduce them 
to bankruptcy-—and to appropriate their property to him¬ 
self. No despot enters the home, to take it from the 
owner.—The Money Power does all this. It crushes in¬ 
dividuals : it oppresses people en masse. It cheats: it 
swindles: it extorts: it plunders: it destroys: it devours. 

The Minotaur, a monster which, every year, devoured 
a shipload of victims which Athens was compelled to fur¬ 
nish, is the most horrible monster of legendary antiquity. 
But the Money Power is worse than the Minotaur. That 
monster was kept in its den. and could only devour the 
victims brought to it. The Money Power is an immense 
Serpent, going at large, and devouring all the victims it 



192 DRAGON, SYMIiOL OF MONEY POWER. 

can find. More, it is a Crowned Imperialism, which 
controls governments, and is above all law. It bankrupts 
the merchant, the manufacturer, the miner, the farmer; 
and drives them and their families out from their homes 
into the world, beggared, and perchance to die heart¬ 
broken and despairing. 

The Money Power is worse than any despot that 
ever reigned. The despot is restrained from excessive 
wrong and oppression, lest the prosperity of his people be 
destroyed.—But it is the aim of the Money Power to de¬ 
stroy the prosperity or all persons engaged'in independent 
business; in order that, amid the ruin it works, it may 
ravage, and devour industry and wealth. 

The Money Power is worse than any monster 
that ever roamed the earth, or was conceived by human 
fancy. For the monster needs only to devour a few, to 
appease its hunger;—but this Serpent is so huge, that it 
encircles the earth with its folds, and the ruin of nations 
can not appease its insatiable appetite to devour. 

Were a wild beast abroad, destroying as the Money 
Power destroys, masses of men would gather to hunt it to 
death. 

Were a despot to oppress and ruin his people, 

as the Money Power is oppressing and ruining our coun¬ 
try, he would be blown up with dynamite, or his head 
would be brought to the block, in less than a year.—The 
Money Power, like the Serpent, is the Arch enemy of the 
human race. 

Nineteenth Parallelism of Character : — TAe color 
of the dragon is rf.d. —This is a lusus naturae. Nobody 
ever saw a red snake. There must have been a special 
appropriateness in the color here, for it to be applied to 
the serpent. 

This color always, in the book of Revelation, indicates 
that the power symbolized by a red color is a cruel, bloody 



MONEY POWER A DESTROYER. 


'93 


despotism. And indeed the red color was indispensable, 
in order to indicate the bloody character of the Money 
Power. For the Money Power is a great destroyer—per¬ 
haps the greatest destroyer of human life, of all the des¬ 
potisms that have arisen on the earth. 

But it does not destroy its victims on the battle-field. It 
is described in the third vision of Daniel, where it is said 
of it: "In peace, shall he destroy many.” Daniel vii: 25. 
It does not strike its venomed fangs into the body, but the 
soul. It reduces its victims to want and beggary; and 
multitudes of them, in utter despair, turn their faces to 
the wall and die. Its victims have died—are dying—all 
over the earth. 

Great Britain is the seat of its power; and there, by 
penury, and want and vain longing and despair, it is, 
every year, crushing thousands of the poor into untimely 
graves. I saw in London such poverty, and misery, such 
utter wretchedness, that the constant spectacle of suffer¬ 
ing I could not relieve broke down my health, and I was 
compelled to leave the country before I had intended, in 
order to save my life. Among the London poor, you 
hardly ever see a hoary head. Poverty and want and 
hopelessness and despair drive them to untimely graves, 
long before time can furrow the bro%v or blanch the hair. 
The whole generation dies in the prime of middle life, de¬ 
stroyed by the conditions with which the Money Power 
surrounds them. They are as actually murdered as though 
the dagger were driven to their hearts. It is true, no 
blood is shed;—but the Serpent never sheds the blood of 
its victims—they die a bloodless death, crushed in its 
coils. So the poor people of Britain die, every genera¬ 
tion, crushed to death by the constricting coils of the 
Money Power—crushed into direst poverty and want, till 
death comes to their relief. 

India is completely in the coils of the Money Power. 



194 DRAGON, SYMBOL OF MONEY POWER. 

The Monster killed five million Hindoos with famine, in 
order to compel them to become its serfs upon its planta¬ 
tions redeemed from the jungle. And now, under the 
control of industry in India by the Money Power, half a 
million Hindoos die of starvation, every year.—It is said 
that, in the wars of Napoleon, waged during twenty years, 
all over Europe, and in Egypt and Syria, two million men 
perished. In a time of profound peace, the Money Power, 
in a single country, destroys as many lives every four years, 
as Napoleon destroyed in twenty years!! 

In the United States, during the long oppression of low 
prices which it has maintained since 1820, with brief in¬ 
tervals, and in the terrible financial crises it has induced, 
thousands have died of heart-break, and multiplied thou¬ 
sands of penury. During its long continued course of 
conquest in this country, in which it has been engaged for 
the last twenty years, it has broken down one branch of 
industry after another, and devoured them; and it has 
driven to untimely graves myriads of our countrymen. 

There have been, for the last twenty years, about ten 
thousand failures, every year, of prominent business firms. 
The men in moderate circumstances who have broke are 
a great multitude who have not been reported. Only the 
big fish caught by the Money Power are counted: the 
multitude of little minnows that it has cast out of its net 
to die, are left to rot in the sunshine without notice. Not 
to speak of myriads of small failures, in this country, caused 
by the Money Power, in the last twenty years, there have 
been, in the United States, two hundred thousand great 
failures, for the most part victims of the Money Power, 

What became of those victims? Alas, we know not. 
Some died of heart-break: many drag on hopeless lives 
in some subordinate position : the sons of ruined families 
have, many of them, swelled the ranks of the reckless, 
hopeless multitudes of our cities: many of the cultured 


MONEY POWER CALLED THE DEVIL 195 

daughters are teachers, or seamstresses, or clerks; and 
many have sunk, through despair, into the great social 
deep lower than the grave!! 

All over the earth, the Money Power has its holocausts 
of victims. They fall in the midst of peace. They die, 
and make no sign.—Well is this bloody destructive Money 
Power represented by the Great RED Dragon. 

Twentieth Parallelism of Character :—Inspiration 
drops the symbol at last, and calls the Dragon the Dn'il .— 
The Devil was incarnate in the serpent, in Eden, to in¬ 
duce the fall of the human race. In the book of Revela¬ 
tion, Satan is represented as incarnate in the Dragon. 

The Money Power is an embodiment of Satanic selfish¬ 
ness, craft, cunning, skill, fraud, deceit, malignity and 
destructiveness. It constantly breaks down industry in 
its selfish greed: it destroys the prosperity of the whole 
earth, in the pursuit of gain : it crushes multiplied millions 
ol the human race: it overshadows the whole age with 
darkness. 

It would destroy the dawning era of liberty and advance¬ 
ment now rising upon the world, as the serpent destroyed 
Eden. It would break down our grand Republic, and es¬ 
tablish upon its ruins a mighty Despotism, to overshadow 
the hopes of man : it would, with Jewish hatred of Christi¬ 
anity, break down our churches: it would destroy our ris 
ing civilization, and reduce mankind to the condition of 
serfs, without the possibility of education or enlightenment: 
it would arrest the progress of the world toward the Mil¬ 
lennium, and grind mankind beneath the heel of a despot¬ 
ism worse than that of the Feudal Ages. 

The Money Power seeks to destroy our Republican 
liberties, and to bring the world under a subjection to its 
own grand Imperialism of wealth and monopoly; in which 
it, and its agents, will be the privileged Aristocracy, hav¬ 
ing all culture, and refinement and power;—while the 



196 DRAGON, SYMBOL OF MONEY POWER. 

mass of mankind are its serfs, tilling its lands, and doing 
its work in the various departments of business life, and 
sunk into abject poverty, with all its concomitants of igno¬ 
rance, vice and debasement. 

Instead of allowing the human race to share in the 
benefits derived from the power of steam, it seeks to 
monopolize all those benefits to itself, and use them as a 
weapon to crush all individual industry, and to subdue the 
world beneath the imperial sway of its capital. It con¬ 
verts the blessings conferred by Divine Providence upon 
mankind into a curse. It seeks to introduce a new Feudal 
Era, in which it, and its agents, will parcel out the world 
anew, and bring back the wrong and oppression of the 
Dark Ages. 

The iniquity of the Money Power surpasses human 
depravity. It is Demonic,—in its selfishness and greed— 
in its cold-blooded heartlessness—in its knavish trickery— 
in its bold robbery—in its cunning and craft and chicane 
—in its falsehood—in its lying concealments — in its 
malignity—in its murders of victims driven by ruin to 
despair and death,— in all this—and in all its other unspeak¬ 
able turpitude , and wrong and baseness , the Money Power is 
utterly Satanic and devilish. 


Who can Doubt That the Dragon is the symbol of 
the London Money Power? Let us briefly recapitulate the 
line of evidence:— 

There are but three Parallelisms of Character between the 
Lion with Eagle’s Wings and the Babylonian empire; and 
only two, between the Bear and the Persian empire; and 
none of them very remarkable.—But here are Twenty 
Parallelisms of Character between the Dragon and the 
Money Power;—ten times as many, and far more re¬ 
markable. 


RESUME OF PARALLELISMS. 


'97 


Review the Entire Career of the Money Power 
as it has been presented, and its every trait, its every act 
reveals it as a gigantic Serpent. 

1) It is Like a Serpent in being essentially a de- 
vourer. 

2) It is Like a Serpent in Its Method of De¬ 
vouring Its Victims: —it charms its prey, luring them 
to their doom—it seizes its prey secretly—it paralyzes its 
victims by its attack—it crushes its prey in its coil—it 
crushes only to devour, and devours all it crushes—it be- 
slimes its prey before devouring it—it swallows its prey 
whole, leaving nothing—it swallows it by repeated gulps, 
and only after repeated efforts engulfs it in its maw. 

3) The Money Power is Like a Serpent in Its 
Characteristics : —it is full of worldly wisdom and craft 
— it hides in its agencies, as the serpent hides in the grass 
—it continually grovels in debasement, lying, fraud and 
trickery, as the serpent crawls upon its belly—it is cold¬ 
blooded, remorseless, cruel. 

4) The Money Power is Like a Serpent in Its 
Habitudes: —like the serpent it stretches afar; its head 
in England, its long body enveloping the whole earth in 
its coil—it throws many coils of its huge length around 
many industries, in varous countries all over the earth, 
every coil a “ ring ”—it hangs on governments for support, 
as the Boa Constrictor hangs on a tree—it hides its own 
bloated gains under the guise of national prosperity, as the 
Boa hides in the leaves of a tree. 

5) The Money Power is a Veritable Serpent in 
Its Relations with Mankind: —it is the necessary 
enemy of mankind, because its interests are opposed to 
the well being of humanity, there being as natural an 
enmity between the Money Power and mankind, as be¬ 
tween the serpent and man.—The Money Power, like the 
Dragon, is red with the blood of multitudes of victims, 



198 DRAGON, SYMBOL OF MONEY POWER. 

slain by it in its continual wars upon industry—finally, 
the Money Power is, indeed, the very embodiment of 
Satanic malignity toward mankind. 

In Every Particular, the Symbol has Its Coun¬ 
terpart. Not one point of likeness fails. No other 
power can possibly be found that embodies all the char¬ 
acteristics of a serpent. In no other power that has ever 
existed can these characteristics be found. The Money 
Power is the only Imperialism that has ever risen on the 
earth, that is like a snake, in any particular. It is like a 
snake, in every point. And it is like nothing else.—These 
strange and startling resemblances cannot be fortuitous 
and accidental. They prove most indubitably that the 
Money Power is the Imperialism symbolized by the Great 
Red Dragon. 


Chapter V. 

PROOF THAT THE DRAGON IS THE SYMBOL 
OF THE LONDON MONEY POWER, 
Continued. 

III. THIRD PROOF:—COINCIDENCES OF FACT. 

We have now seen the twenty Parallelisms of Character 
by which the Great Red Dragon is proved to be the 
symbol of the London Money Power. But these Parallel¬ 
isms are only part of the evidence. We have seen that 
a symbol is also identified with the power symbolized, 
by Coincidences of Fact, where certain things are stated 
of the symbol, which represent similar things that are true 
of the power symbolized. There are twenty-two Coinci¬ 
dences of Fact, which prove that the Money Power is the 


MONEY POWER ESTABLISHING PRUSSIAN EMPIRE. 199 


Imperialism symbolized by the Great Red Dragon. These 
will now be presented:— 

1 st. The Dragon and Beast. 

First Coincidence of Fact :—In the i$th Chapter of 
Revelation, it is said ‘ '■the Dragon gave to the beast his power , 
and his seat and great authority.'” And again, “they wor¬ 
shipped the dragon which gave power to the beast.” 

It has already been explained how, according to the 
13th and 17th Chapters of Revelation, the Roman empire 
is to be re-established under the dominion of Prussia, 
extended over Southern and Western Europe. And it is 
here stated how the Roman empire is to be re-established 
under the headship of Prussia,—“the Dragon gave to the 
Beast [Prussia] his power, and his seat and great 
authority.” 

This Establishment of the Prussian Empire over 
Southern and Western Europe by the aid of the London 
Money Power is not yet accomplished ; but it is so near in 
the future that we may now see the means of fulfillment. 
We know that the loans of the London Money Power to 
the nations of Europe enable them to keep up their stand¬ 
ing armies, and to meet the expenses of war. No country 
in Europe can sustain a war without the loans of the 
Money Power. In the great war of 1870, between Prussia 
and France, all the world thought France would be the 
victor, because she had the greater financial resources. 
But the Money Power gave to Prussia unlimited loans, 
and enabled her to put two millions of men into the field, 
so that she crushed France like an eggshell, in a campaign 
of only a little more than four months. 

If we now observe the state of Europe, we shall perceive 
that its present condition indicates that the great nations 
are on the eve of a great war ; in which Prussia and 



200 


DRAGON, SYMBOL OF MONEY POWER. 


her allies will triumph through the aid of the Money- 
Power. 

Europe is now Divided into two Hostile Camps: 

Russia and France, on the one side; and Prussia and 
Britain, and Austria and Italy on the other. Of these two 
coalitions, Russia and France are, in respect of military 
force, much the more powerful. They are able to bring 
into the field, in round numbers, six million soldiers; while 
Prussia and her allies can only bring into the field, in 
round numbers, four million men. 

But the Money Power is a New Force in the 
Field. It alone has imperial power in our age, sustain¬ 
ing kings, and in war giving the victory by its loans, where 
it pleases. No nation in Europe can put forth all its 
strength in war, without the loans of the Money Power. 
And, in the great war now impending in Europe, the aid 
of the Money Power will be given to Prussia and her allies. 
Loans will be refused to France and Russia, and those 
powers will be unable, for want of money, to bring their 
vast forces into the field. Prussia and her allies will have 
unlimited loans, and will be able to equip and keep in the 
field all their forces: the sure result will be that Prussia 
and her allies will be the victors in the conflict; and 
Prussia will become imperial over Southern and Western 
Europe. 

In the New Era of the Imperialism of the Money 
Power, it needs a grand imperial government that 
can enforce its demands all over the earth. The British 
government is now its subservient instrument;—but Great 
Britain is not sufficiently powerful to enforce its demands 
against the great nations of the earth. It needs a more 
powerful nation to be its instrument. And Germany, un¬ 
der the headship of Prussia, is the nation it has chosen. 

The Pamphlet given me, in England, shows the 


MONEV POWER NEEDS A GRAND EMPIRE. 


201 


desire of the Money Power to have a great Im¬ 
perialism capable of ruling the world, to further and 
support its claims. The writer of the pamphlet said that, 
in order to support the claims of British capitalists, it was 
necessary for England to be the most powerful nation on 
the globe; and that it was the policy of England, in or¬ 
der to this end, that the nations should be divided up into 
small states, so that England could subdue and control 
them. 

In the Table of Contents of the pamphlet, appear the 
following headings England has a Money Inter¬ 
est in Every Nation.” “ Every War a War upon 
England.” “ England Should invariably Chas¬ 
tise.” " English Rule a Blessing to Foreign Na¬ 
tions.” —The writer proceeds:— 

"Having her property [the property of the Money 
Kings] dispersed all over the earth, England should, for 
her own protection, constitute herself the police of the 
world; as she is the carrier, the banker, the merchant, 
the Annuitant, the post-office of the world. When the 
outrage of war is committed on England’s commerce,— 
that is, whenever any war is undertaken,—it should be 
the standing order of the people of England to their pub¬ 
lic servants that, the instant any country marches an army 
across its own border, the English fleet in the district 
shall blockade every port of the offending power, and if 
necessary, bombard the maritime towns; that the British 
fleet throughout the world shall seize upon and make 
prize of everything afloat belonging to the offender; and 
further, that a British army shall, without a moment’s de¬ 
lay, be sent to assist the nation invaded, and protect our 
property.” 

The writer next proceeds to set forth the power of 
Great Britain to maintain this imperial position. He sets 
forth the resources of Britain under three heads,—" Na¬ 
val Supremacy;” "The Military Character of 



202 DRAGON, SYMBOL OF MONEY POWER. 

the People ” and “The Wealth of England.”— He 

says:— 

“England is the only nation which has at all times 
maintained its army without a conscription. * * * * * 
No one doubts our means of supplying the waste of war. 
The cost [of the Crimean tvar] that has crippled Russia 
for twenty years, has never for a moment been felt by us. 
The large outlay during the Crimean war did not curtail 
the smallest luxury of the poorest Englishman. The war 
w r as thoroughly popular, as all wars are in England. 
There is no'instancc of public meetings to protest against 
a war; for the people of England often urge a war, but 
never tire of one.” 

The writer of the pamphlet advocates the breaking up 
of all the great powers (this was in 1864), into small 
states, which could not resist the power of Great Britain. 
He says:— 

“ A combination of such states as Denmark, Holland, 
and Belgium would give us little more trouble than a 
Caffir war, or an attack by the Maories of New Zealand. 
* * * * * j s England’s interest, then, that there 
shall be no large territories; and, fortunately, nature has 
limited within comparatively narrow bounds the extent 
of country which can most beneficially embrace one com¬ 
munity. * * * * * England can avail herself of 
these natural limits without the slightest injury to mankind; 
and should never fail to assist every people who are strug¬ 
gling for a separate existence.” 

This writer represents the interests of the Money 
Power. His statements show that the Money Power feels 
the need of a great Imperialism able to dominate all na¬ 
tions, in order to further and guard its interests. This 
writer evidently hoped that Great Britain would become 
such an Imperialism, by breaking up the great nations of 
the earth, fomenting discontents, and supporting revolts.— 
But the tendency throughout Europe and America is to- 



DRAGON IS NOT A POLITICAL POWER. 203 

ward the growth of great nations. It is now evident that 
Great Britain is not powerful enough to dominate the earth. 

But the Money Power desires such an Imperi¬ 
alism as its agent, as is evident from the foregoing quo¬ 
tations. Such an Imperialism is indispensable to it. And 
as there is no hope of Great Britain becoming such an 
overmastering Imperialism, the Money Power has chosen 
Prussia to become its grand Imperial Agent in the future, 
and is raising Prussia to imperial power for that purpose. 
Hence it aided Prussia by its loans to crush France; and 
it is now preparing, by its policy and its loans, to exalt 
Prussia to an imperialism over Southern and Western Eu¬ 
rope. 

Thus will be fulfilled the statement of prophecy:— “The 
dragon [the Money Power] gave to the beast [the Prussian 
empire] his power, and his seat and great authority,” i. e. im¬ 
perial dominion. 

Second Coincidence of Fact: — We see from the 
Dragon giving ptrwer to the Beast, that the Dragon does not 
symbolize a political penver. 

For one political power never gives power to another, 
but exercises it itself. Thus, France will not give political 
power to Spain, nor Great Britain to Ireland, nor Russia 
to Poland. Political powers always exercise their own 
political power, and will not give it to another state. If 
the Dragon were a political power, it would not give power 
to the Beast [the Prussian empire], but would exercise it 
itself. 

This fact harmonizes perfectly with the Dragon being 
the symbol of the Money Power. The Money Power is 
not a political Imperialism. It needs some political gov¬ 
ernment as its political agent, to legislate in its interest, 
and fight its battles. 



2o.( DRAGON, SYMBOL OF MONEY POWER. 

The two foregoing Coincidences of Fact are already in 
part fulfilled. The Money Power has not yet raised Prus¬ 
sia to imperial rule over Southern and Western Europe. 
The work is not yet completed. But it is begun, and is far 
on the way toward accomplishment. The Money Power, 
by its loans, enabled Prussia to crush Austria and France. 
Its loans have enabled her to re-establish the German em¬ 
pire, and from being the weakest of the five great pow¬ 
ers, to become the mightiest power in Europe. It only 
needs one more step, which will be taken in the next war 
in Europe; and then, the Money Power will have com¬ 
pleted its work, and given to Prussia imperial power and 
dominion over Southern and Western Europe.—So much 
is already done, that we can readily see the way to the 
single remaining step. 

2nd. The Two Horned Beast. 

There is presented in the 13th chapter of Revelation, 
another beast, a Tw r o Horned Beast, which is seen “com¬ 
ing up out of the earth.” 

This Beast has been the vix cruris of expositors. No 
expositor has ever applied it to any power that has yet 
risen, to the satisfaction of himself, or others. This Beast 
is the Dragon. 

John says of it:—“I beheld another beast coming up 
out of the earth. * * * * * And he spake as a 
dragon. * * * * * and he causes the earth, and 
them which dwell therein to worship the first beast whose 
deadly wound was healed.” 

1. I prove that the Two Horned Beast is the 
Dragon by Three Marks, mentioned in the above 
passage:— 

1.) The first mark that proves that this Beast 
is the Dragon, is the manner in which John saw it 
'‘coming up out of the earth ."—This is the action of a ser- 


TWO HORNED BEAST IS THE DRAGON. 205 

pent, not of a quadruped. When John saw die Beast rise 
up out of the Sea, the action was instantaneous: “I saw 
a beast rise up out of the Sea.” The beast rose out of 
the Sea, and that was the end of its rising. But it was 
different with this Two Horned Beast: John “beheld” it 
for a long time; and all the time he “beheld” it, it was 
“ coming up out of the earth ,"—This slow crawl out of the 
ground is- the action of a serpent crawling up out of its 
den, and of nothing else. 

2. ) I identify this Two Horned Beast with the 
Dragon by its voice: “He sfake as a dragon .’’—Now, 
we know a horse by its neigh, and a chicken by its crow, 
as well as by sight; and we recognize a serpent by its hiss. 
In all nature, a serpent is the only beast whose voice is a 
hiss. If this beast spake as a dragon, it hissed; for a hiss 
is the only sound a serpent utters. The Two Horned 
Beast hissed: It was the Dragon. 

But we are not left to inference on this point. 

3. ) That this Two Horned Beast is the Dragon, 
is established beyond the possibility of a doubt by 
Divine inspiration representing it as doing the same thing the 
Dragon had just before, in the same Chapter, been represented 
as doing .—It has just before been stated that the Dragon 
gave to the Beast whose deadly wound was healed “his 
power, and his seat and great authority.” And here, it is 
said, this Two Horned Beast “ causeth the earth and them 
that dwell therein to worship the first beast whose deadly 
wound was healed.”—This is just the same thing the 
Dragon does : The dragon gave to the beast whose deadly 
wound was healed imperial power: this Two Horned 
Beast causeth all men to render to the imperial beast wor¬ 
ship or homage .—The act is the same in both instances : this 
Two Horned Beast is the Dragon. 

I have been careful to prove the identity of this Two 
Horned Beast with the Dragon, because, 


206 DRAGON', SYMBOL OF MONEY POWER. 

2. There are eight Coincidences of Fact between 
this Two Horned Beast and the Money Power; and all of 
them so remarkable as to make it absolutely certain that 
this Two Horned Beast is the symbol of the Money Power. 

i.) The following is the text respecting this Two Horned 
Beast:— 

“And I beheld another beast coming up out of the 
earth : 

“And he had two horns like a lamb: 

“And he spake as a dragon. 

“And he excrciseth all the power of the first beast be¬ 
fore him, [‘ i. in his presence ’] 

“ and causeth the earth and them which dwell therein 
to worship the first beast, whose deadly wound was healed. 

“And he doeth great wonders, so that he causeth fire 
to come down from heaven on the earth in the sight of 
men. 

“ And [he] deceived! them that dwell on the earth by 
those miracles [or wonders] which he had power to do in 
the sight of the beast; 

“ saying to them that dwell on the earth that they should 
make an image to the beast which had the wound by a 
sword and did live. 

“And he had power to give life unto the image of the 
beast, that the image of the beast should both speak and 
causeth that as many as would not worship the image of 
the beast should be killed. 

“And he causeth all, both small and great, rich and 
poor, free and bond, to receive a mark in their right hand, 
or in their foreheads : and that no man might buy or sell, 
save he that had the mark, or the name of the beast, or 
the number of his name. 

“Here is wisdom. Let him that hath understanding 
count the number of the beast: for it is the number of a 
man ; and his number is six hundred and three score and 
six.” Revelation xiii: 11-18. 

2) Let us note the Coincidences of Fact, presented be¬ 
tween this Two Horned Beast and the Money Power:— 

Third Coincidence of Fact:— "He had two horns 


TWO HORNS SYMBOLIZE ENGLAND AND SCOTLAND. 207 

like a lamb .”—In prophecy, a horn is a symbol of a king¬ 
dom or political power. Thus, the ten horns symbolize 
the Ten Kingdoms of Modern Europe, within the terri¬ 
tories of the Roman empire. The two horns on the head 
of the Persian Ram, (Dan. viii,) symbolize the two king¬ 
doms of Media and Persia, united in the Persian empire. 
So here, these Two Horns on the head of the Serpent, 
symbolize two kingdoms whose power the Dragon wields. 
The horns being lamb-like horns, indicates that the two 
kingdoms under the control of the Serpent are especially 
Christian kingdoms. 

These two horns symbolize the two kingdoms 
of England and Scotland, which were united, in the 
reign of Queen Anne, into the United Kingdoms of Great 
Britain. Great Britain is the name, then established by 
law, for the two united kingdoms of England and Scot¬ 
land. And these are the two most pre-eminently Christian 
kingdoms in the world. 

Prophecy only recognizes England and Scot¬ 
land as the two horns on the head of the Dragon. 
The Money Power rules Great Britain with absolute sw’ay. 
The British Parliament always registers its will. No mat¬ 
ter what party is in power, Great Britain always legislates 
for trade, and, when necessary, fights for trade. When 
the Landed Aristocracy ruled the country, they had Corn 
Laws, to keep up the price of grain for the benefit of the 
Land Owners. But when the Money Power wanted free 
trade in grain and provisions, for the benefit of manufact¬ 
urers and merchants, Parliament submitted to its will, and 
threw over the policy of the Tory Landed Aristocracy. 

The Tory party, representing the Landed Aris¬ 
tocracy, has had to advance to the ground of the 
Money Power, and plant itself on the platform of the 
Whigs, in order to live. The British Parliament is now 
the creature of the Money Power. The Money Power 



208 dragon, symbol or money power. 

rules Great Britain. Prophecy, with striking fidelity to 
fact, represents Great Britain,—England and Scotland,— 
as the two horns on the head of the Serpent. 

Fourth Coincidence of Fact: —John saw this Two 
Horned Serpent “coming up out of the earth ."—He looked 
at it for a long time,—“beheld” it,—and all the time he 
“beheld” it, it was still “coming up out of the earth.” 
It was always crawling up out of the ground, but never 
got entirely out. Though constantly crawling up out of 
the ground, a part of it always remained in the ground.— 
This is a strange and, seemingiy, impossible state of facts,— 
a snake always crawling up out of its den, and yet never 
getting entirely out. And yet this strange thing is true of 
the Money Power. 

The Money Power always acts through joint stock cor¬ 
porations. The stockholders and bondholders of the vari¬ 
ous corporations all over the world, are in London, There 
is the Serpent’s den. The stockholders are hidden from 
the world in their den. The world only sees the direct¬ 
ors and the officers of the corporations, and their hired 
operatives.'—But as the stockholders make more money, 
they organize more corporations, and elect more directors, 
and more officers, and employ more operatives. So that 
the Serpent is constantly growing greater in its den; and 
as it grows in the den, more of its body crawls up out of 
the den, and becomes visible to the public eye. 

What a strange astonishing similitude is this! and yet it 
fits the Money Power perfectly. And it will not suit any 
other power that has ever risen upon the earth. God fore¬ 
saw the action of the Money Power, and He chose a sym¬ 
bol that resembles it perfectly, and mentioned facts re¬ 
specting the symbol that exactly suit the Money Power.— 
It must be a terrible monster which Divine Omniscience 
took such pains to point out, by making its symbol unmis¬ 
takable. 


WIELDS POWER OK 13R1TAIN. 


209 


Fifth Coincidence of Fact :—The Two Horned Sir-. 
pent “exereisetk all the power of the first beast before him — 
or in his presence.—The first beast, as we have seen, is 
the Prussian empire; and the statement in the text means 
that the Money Power will exercise all the power of the 
Prussian empire in the presence of the empire. 

We can Understand how the Money Power 
will Wield the Power of the Prussian Empire, 
by observing the manner in which it is now exercising 
the power of the British empire. In Great Britain, the 
Money Power is the power behind the Throne, greater 
than the Throne. It wields the power of the British 
government by controlling the Parliament, and has been 
doing so for more than a century. It is avowed that the 
British government is administered in the interests of the 
manufacturing and commercial classes. No matter what 
party is in power, all parties alike do the will of the 
Money Power. 

We had, a few years ago, a remarkable instance of the 
subserviency of the British government to the Money 
Kings. When Disraeli was Prime Minister, the Tory 
Administration entered upon a new career of bold im¬ 
perialism, in its treatment of other countries. This im¬ 
perial policy of the Tories was stigmatized by the Liberal 
party as “Jingoism.” Gladstone appealed to the moral 
sentiment of the Liberals, who are the most religious por¬ 
tion of the British population, against the “Jingoism” of 
the Tories, and unseated them from power on that issue 
alone.—But immediately after the Gladstone administration 
came into power, it outjingoed Jingo. 

It happened that the Khedive of Egypt was unable to 
pay the interest on his debt to the Money Kings. Those 
capitalists appealed to the British government; and the 
Gladstone Administration at once proceeded to enforce 
their claims against Egypt. It did what had never been 



2 10 DRAGON, SYMBOL OF MONEY POWER. 

done before by the British government. It invaded Egypt, 
conquered the country, discrowned the Khedive, and 
administered the government in the interest of the Money 
Power. The British government debased itself to become 
“receiver” for the Money Kings. 

And this high handed outrage upon a weak state was 
justified before the world by the plea that it was necessary, 
in order that those imperial capitalists might receive the 
interests on their loans. And so thoroughly established is 
this grand Imperialism of Capital, that all the nations of 
Europe accepted this plea as perfect justification. 

A Principle is Established in this Transaction 
that is full of Menace to the Nations of the Earth. 
It is now recognized as an established principle that the 
monetary claims of the Money Power are higher than the 
right to national existence! 1 So long as a country which 
the Money Power has ruined can pay the interest on its 
debts—well.—But when it is reduced to bankruptcy, and 
can no longer pay the interest, it thereby forfeits its 
national existence; and the Money Power has a right to 
have it conquered, in order to secure its debt 11! 

This is the logic of the conquest of Egypt! It is well for 
the nations to ponder it!!! 

The British Government also Conquered Bur- 
mah, three years ago, in the interest of the Money Power. 
The cause of the conquest was kept quiet until, last year, 
a Mr. Robert Sutherland, in making a trip from India to 
England, passed through the United States, and in an 
interview with the reporter of a New York paper stated 
the facts. 

Mr. Sutherland stated to the reporter that he is “Resi¬ 
dent Manager of the Burmah and Bombay Trading 
Corporation, one of the largest Trading Companies [of 
the Money Power] in the East.” Mr. Sutherland further 
said: “Burmah possesses the only Ruby mines in the 


CONQUEST OF KURMAH. 


211 


world, and they are very valuable. The desire of the 
French in Tonquin to get control of these, and the Teat 
forests, led to the recent trouble with King Theebaw, 
and the overthrow of that monarch’s rule. He repudiated 
a very large claim against him by the Bombay and Burmah 
Corporation, claiming that the agents had made false 
returns. ” 

And no doubt they did; for they defraud and cheat 
everybody. But the corporation appealed to the British 
government. And, continues Mr. Sutherland:—“To pre¬ 
vent his trading with the French, the British government 
took up the claim of the Corporation, its members being 
British subjects, and the war over its enforcement led to 
Theebaw’s capture, and the extension of the British pro¬ 
tectorate over the whole of Burmah. ” 

In plain English, this statement means that this corpora¬ 
tion of the Money Power claimed exclusive commercial 
rights in Burmah. They cheated the Burman Emperor, 
making false returns, and when the Burman government 
exercised its right to abrogate its trade relations with the 
corporation, rhe British government, at the instance of the 
Trading Company, invaded Burmah, dethroned the em¬ 
peror and sent him prisoner to India, and annexed Burmah 
as a conquered province. 

Some years ago, the British government in¬ 
vaded China, because the Chinese government excluded 
the opium which the corporations of the Money Power 
were producing in India, and forced China, at the can¬ 
non’s mouth, to receive the opium and allow its people to 
be debauched, in order that the Money Power might con¬ 
tinue to reap its profits! 

If the British government had conquered China, and 
made its emperor a captive, and annexed the country to 
its dominions, the act would have been on a par with the 
conquest of Egypt and Burmah. The claims of the 



212 DRAGON, SYMBOL OF MONEY POWER. 

Money Power are advancing. Its imperial policy requires 
the conquest and complete subjugation of any nation that 
is ruined by it, or which attempts to resist its oppression! 

If any have doubted that this London Money Power is 
a great Imperialism, they can doubt no longer. It may 
have seemed doubtful to some, while I stated its course in 
the United States, whether the picture of its imperial 
power might not be overdrawn. But when we see it re¬ 
ducing Egypt to bankruptcy, and plundering Burmah by 
fraud, and then having those countries conquered in order 
to enforce its claims, none can doubt its proud and haughty 
claims to imperial supremacy. 

Great Britain can crush China, and conquer Egypt and 
Burmah, in the interest of the Money Power. 

But Great Britain is not powerful enough to en¬ 
force its claims against the United States, or any of 
the, great nations of Europe; and hence the necessity, as 
already mentioned, of the Money Power raising Prussia to 
imperial dominion, in order to use its power for the en¬ 
forcement of its claims. It will have need of the Prussian 
power to enforce its claims against every country on the 
globe; for it is bankrupting all nations, as it is the United 
States; and every country will have to take ground against 
it, as Burmah did, or be reduced to bankruptcy like Egypt. 
And the fate of resistance, and of bankruptcy, is the same, 
— the conquest and the annexation of the victim nation. 
In this way the Prussian empire would attain to universal 
dominion, by enforcing the claims of the Money Power. 

If the Money Power is not checked in its career, it will 
carry out its policy to the full extent. It will bankrupt all 
the nations of the earth, and have them conquered, and 
their resources administered by a political imperialism in 
partnership with the Money Power, which will act as 
“receiver” for bankrupt nations, as England has done 
with Egypt.—The people of that empire would, in the 


IMAGE IS REPRESENTATIVE GOVERNMENT. 213 

end, become its grand agents, and share with it the plunder 
of the world. 

Sixth Coincidence of Fact. — This Two Horned 
Serpent is represented as ‘ ‘ saying unto them that dwell on the 
earth that they should make an image to the beast that had the 
wound by a sword and did lire.” 

For a long time, I was perplexed as to the meaning of 
this “ image of the beast.” But the meaning is simple and 
plain. 

We have here a remarkable prophecy predict¬ 
ing the representative form of government. Tn 
the age when the Revelation was given, the representative 
form of government had never been thought of. The 
state always acted for itself, through the Monarch, or a 
Constituent Assembly in which govermental power was 
vested. The idea had never occurred to any one to have 
a representative body in which the governmental power 
should be vested. Such a Representative Bod)', whether 
called Congress, or Parliament, or by any other name, is 
the representation or the image of the State. Each member 
is the representative or “image” of his constituents, and 
the whole body is the representative, or “image” of the 
nation. A Cdhgress “representing” the nation would 
naturally, and with strict propriety, be called the image of 
the nation. 

It is astonishing how perfectly all parts of this prophecy 
hold together. It is truly wonderful that we should have 
here, in Revelation, a plain and distinct prediction of the 
representative form of government, long before it grew up 
in modern times. This “Image of the Beast” is the 
Reichstag, or German Parliament, which will be extended 
over the states of Southern and Western Europe. All the 
states that become a part of the German empire will rep¬ 
resent themselves in the Reichstag. This Reichstag will 
be the representative body, or “Image” of the empire; 



214 DRAGON, SYMBOL OF MONEY TOWER. 

and this “Image” will “speak,” and govern the em¬ 
pire. 

It is by means of this Parliament or “Image,” that 
“the Dragon shall exercise all the power of the ” Prussian 
empire in the presence of the empire. The Dragon will 
control the Parliament with its money, and will thus con¬ 
trol the Prussian empire, as it has the British empire, dur¬ 
ing the last century. 

Seventh Coincidence of Fact :—This Two Homed 
Serpent 1 ‘ had power to give life to the image of the beast [the 
imperial Parliament ,] that the image of the beast should both 
speak, and cause that as many as would not worship the image 
of the beast should be killed.” 

i. That is, the Prusso-German empire will aspire to 
universal dominion. Influenced by the Money Power, 
the Imperial Parliament will enact laws inflicting death 
upon all who refuse to submit to its sway. It will be the 
policy of the Money Power to have a grand universal em¬ 
pire, by means of which it will be able to plunder all na¬ 
tions, and get possession of all the property in the world. 

z. But there is another fact indicated in this state¬ 
ment:—When the German empire shall first be established 
over Southern and Western Europe, the several nations 
which enter the empire will retain their independence in 
respect of all internal affairs, merely entering into a union 
for trade purposes, and for the administration of foreign 
relations.—But with the universal tendency of imperial 
power to centralize itself, the German Parliament will as¬ 
sume ascendency over the subject states, and will compel 
all, under penalty of death, to submit to its sway.—And 
in this encroachment upon the rights of the subject king¬ 
doms, the Dragon will be the active agent, furthering the 
aims of despotism. 

Eighth Coincidence of Fact :—This Two Horned 


CAUSING FIRE TO COME DOWN FROM HEAVEN. 215 

Serpent “doeth great wonders, so that he causeth fire to come 
down from heaven on the earth , in the sight efi men'' 

This is a startling statement. I used to think that when 
the power symbolized by this Two Horned Beast should 
rise, and begin to “ cause fire to come down from heaven,” 
I would be sure to recognize it; for, when it should 
“ cause fire to come down from heaven,” its identity would 
be unmistakable. 

But the Money Power had been “causing fire 
to come down from heaven on the earth in the sight 
of men ” for over forty years, before I recognized its 
identity. “Fire from heaven” is lightning: lightning is 
electricity. For more than forty years the Money Power 
has been “causing fire to come down from heaven in the 
sight of men,” to run the telegraph. In all our Cities, 
it “causeth fire to come down from heaven,” to run the 
electric lights. In all the cities, and many of the towns, 
“fire from heaven” runs telephones. And in many of 
the cities, electric motors run street cars by “ fire from 
heaven." 

And the Money Power “ causeth ” all this “fire to 
come down from heaven.” As fast as any new electric 
invention is made, the Money Power buys the patent, 
organizes electrical companies all over the world, and sets 
the invention in operation.—Edison is evidently its paid 
agent. He has spent over a million dollars in electrical 
experiments. He has in his laboratory forty assistants, 
and is expending at least $40,000 a year in his experi¬ 
ments. He can not personally afford any such outlay. 
He must be the agent of the Money Power; and as fast 
as he makes a new invention, they buy it, and put it into 
operation. They only paid him $6,000 a year, for seven¬ 
teen years, for the telephone—nothing like the value of 
the invention; but enough, seeing that they paid him 
while experimenting, and supported his laboratory. 



21 6 DRAGON, SYMBOL OF MONEY POWER. 

The Money Power owns the telegraph lines, the electric 
light companies, the electric street car companies, and all 
the applications of electric force. All over the earth, it 
constantly “causeth fire to come down from heaven on the 
earth in the sight of men ” !! 

Who can doubt that the Two Horned Serpent is the 
Symbol of the Money Power ?! 

Ninth Coincidence of Fact: — The Two Horned 
Serpent ' ‘ had power to do great miracles ” or wonders. 

We live in an age of wonders. It is a common ex¬ 
pression to speak of the “wonders of steam,” the “won¬ 
ders of electricity,” the “wonders of mechanical in¬ 
vention.” 

And all these “wonders” the Money Power has set 
in operation by its capital. It has built the steam ships— 
the railroads—the telegraph lines—the telephones—the 
electric railway lines—the water works—the gas works:— 
and it has set in operation, by its capital, the thousand 
mechanical wonders in use in every kind of manufactures. 

Tenth Coincidence of Fact: — The Tivo denied 
Serpent “ deceived them that dwell on the earth as to those 
miracles [or wonders] which it hadporocr to do 

'Phis is perfectly fulfilled in the Money Power, which is 
now deceiving mankind as to the wonders it is working 
with its capital. It lauds itself as a great benefactor of 
mankind. The blessings of Capital are constantly held 
up before the public. We are constantly told that Capital 
is necessary to our civilization—that it is beneficent in its 
operations—that Capital is indeed men’s chief benefactor 
—that the world cannot do without Capital. It is triumph¬ 
antly asked, where would the world now be without the 
railroads, the telegraphs and the thousand inventions 
Capital has set in operation? We are continually re¬ 
minded that the human race ought to realize the benefits 
it derives from Capital, and ought to be profoundly grate- 


DECEPTIONS OF MONEY POWER. 217 

ful lor them. And the inference is suggested that, in 
recognition of these benefits, mankind ought, in all things, 
to do the bidding and consult the interests ofCapitall! 

By these self laudations put forth through the press 
controlled by it, the Money Power is deceiving mankind. 

It is admitted that the wonders Capital has wrought 
have been of the greatest benefit to mankind. No one 
would be willing to go back to the old days of stage 
coaches and tallow candles. We can not do without our 
railroads, and steamships, our telegraph lines, our water 
works, our gas works, our electric lights, our street rail¬ 
ways, and all the appliances of our modern civilization. 
—But there is a consequence of all this that the Money 
Power keeps out of view. 

By Means of these things, the Money Power 
is Rapidly Bankrupting Mankind, and getting all 
wealth into its own hands. There is more work now being 
done by steam than could be done, with old methods, by 
five such races as now people the earth. The Money 
Power has taken possession of steam, and mechanical in¬ 
ventions ; and it is making all the profit derived from 
those sources.—Pet a small knot of capitalists make ail 
the profit on the labor of five such races as now people 
the earth—let them make it, not for one year or one 
generation, but for ages; and let them constantly reinvest, 
and enlarge their operations; and let them invest their 
profits, age by age, in property of all kinds:—and it is 
only a question of time, when they will do all business, 
and own all property. 

We reach the same conclusion by another course of 
fact. When the Money Power began its career, 175 years 
ago, it is a moderate estimate to put its capital at $50,- 
000,000. The commerce of the world has always been 
needing capital; and business has always afforded the 
best opportunities of investment. The capital of the 



2l8 dragon, symbol of money power. 

Money Power would certainly double itself once in fifteen 
years. Then it has doubled nf times since 1715. If this 
is the case, the capital of the Money Power now amounts 
to $163,840,000,000. This is probably below the mark. 
The wealth of the Money Power can hardly be less than 
$200,000,000,000. 

This is a vast amount; but the facts bear it out. In 
the First Era of the growth of the Money Power, down to 
1775, it had use for all its capital in extending its opera¬ 
tions.—In the Second Era,— from 1775 to 1830, — it had 
sufficient capital to make immense loans to the monarchs 
of Europe.— In the Third Era, — from 1830 to 1864,— it 
had money enough to make loans for building railroads, 
water works, gas works, &c.; but it waited for the people 
to come for the money.—But since 1S64, in the Fourth 
Era of its growth, it has been going into all kinds of enter¬ 
prises; and nowit is seeking new investments, and begging 
people to sell it their property, all over the earth. The 
Money Power has so much money, now, that it can not 
find investment for it. In one more double it will about have 
all the property of the earth. In the beginning of its career, 
a double of its capital meant $100,coo,000. Now a 
double of its capital means $400,000,000,000. And all 
the property of the world is less that $600,000,000,000. 

The labor wrought by steam and invention is 
too vast, for a few capitalists to be suffered to monopo¬ 
lize these grand agencies of industry for their own exclu¬ 
sive benefit. The monopoly of those appliances in the 
hands of a few capitalists is ruining the world. 

The monopoly of steam industry must be 
stopped, and some way must be discovered by which the 
masses of mankind may be allowed a chance to share the 
profits derived from steam and invention. 

How well Divine Inspiration foreknew the 
craft of the Money Power, and how thoroughly it has 


THE BRAND OF SF.RVITUDE. 


219 


exposed it. In exposing the pretense of the Money Power 
as to the beneficent influence of capital, it has completely 
unmasked the deception of the claim that the operations 
of Capital, as now carried on, are beneficent to mankind. 
The exposure of its deception is the first step toward a 
new and better order of things, in which the operations of 
steam and invention, instead of inuring to the exclusive 
benefit of the Money Power, shall be used by the people 
of every country for their own national and individual 
prosperity. 


Mankind is slow to accept a new thought, and some 
persons may be unwilling to believe that the Money Power 
is thus taking possession of all the property of the world. 
Rut divine Inspiration declares that such is its purpose:— 

Eleventh Coincidence of Fact.— This Two Horned 
Serpent “causeth all, both small and gnat, rich and poor, 
free and bond, to receive a mark in their right hand or in 
their forehead; and that no man might buy or sell, save he 
that had the mark, or the name of the beast, or the number 
of his name." 

This “ mark ” is the brand in the hand or on the body, 
by which slaves were marked, in ancient times. It is the 
aim of the Money Power to get all industry and all busi¬ 
ness into its hands, and reduce all mankind to the condi¬ 
tion of its paid servants, branded in the hand, or on the 
forehead, with the badge of servitude. 

A very intelligent man, after hearing my lecture, sug¬ 
gested to me that the “mark in the hand” designates the 
multitude of operatives who render manual service to the 
Money Power; while the “mark in the forehead” desig¬ 
nates those who render to the Money Power brain service. 
This would include all great agents, having control of de¬ 
partments of industry or trade; all editors who wield their 
pens in the service of the Money Power; all lobbyists and 



220 DRAGON, SYMBOL OF MONEY POWER. 

legislators who sell themselves to promote the aims of the 
Money Power ; and all in any department of business,— 
lawyers and other professional men,—who render brain 
service to the Money Power. 

The mind shrinks from the idea that a grand Imperial¬ 
ism of Capital should get every department of industry 
and enterprise into its possession, so that none except its 
paid agents can do any business. But we have seen how 
entirely the Money Power has obtained control of all busi¬ 
ness, in India. We have seen how it is monopolizing al¬ 
most all business in the United States, except farming and 
retail traffic—and how it is rapidly getting possession of 
these. We have seen how one more double, which will 
only take fifteen years, will give it more than all the prop¬ 
erty of Christendom, and two more doubles will give it all 
the property in the world. 

A. T. Stewart broke down one thousand retail merchants 
in New York City, so that they could not buy nor sell, 
until they failed in business; then they took the “mark in 
the hand,” and went behind his counters; and they could 
sell all the goods the New York people wanted to buy. 

Some time ago, Armour began a campaign against the 
butchers of Davenport, Iowa. He wanted them to sell his 
meats. They refused: they wanted to buy and kill their 
own cattle; for there is a grand profit in buying and kill¬ 
ing cattle and selling beef, at present prices. But Armour 
determined to coerce them: he began to sell dressed beef 
in Davenport so low that the butchers could sell no beef. 
They surrendered, and agreed to sell Armour’s beef; they 
took the “mark in the hand”; and then they could sell all 
the beef the people of Davenport wanted to buy. 

Business men are now being driven out, not of 
the beef trade only, but of many lines of business. The 
Money Kings have already obtained possession largely of 
the wholesale trade, and of all the great lines of business in 


FARMERS TO LOSE THEIR FARMS. 


22 1 


the country. They have the import and the export trade: 
they buy all our products of every kind. They have al¬ 
most everything except merchandizing and the farms; and, 
as we have seen, they are rapidly getting possession of the 
retail trade, by the retail stores which they are establishing 
throughout the country; and will soon have possession of 
our farms, by their foreclosure of mortgages. 

The New York Times expects the Money Power 
to get possession of the farms by foreclosure of mort¬ 
gages, and in a leading editorial, published Aug. r 2th, 1877, 
it anticipates this result, and prepares the public mind for 
it. It says: 

“ There seems to be but one remedy, and it must 
come,—a change of ownership of the soil, and a creation 
of a class of land owners, on the one hand, and of tenant 
farmers on the other—something similar in both cases to 
that w'hich has long existed and now exists in the old 
countries of Europe. * * * * Everything seems 

ripe for the change. 

“Then will begin a new era in agriculture, and one 
that seems very desirable. * * * * * Those farm¬ 

ers who are land poor must sell, and become tenants, in¬ 
stead of owners of the soil.” 

The Times regards the farmers losing their farms 
as inevitable, and it looks forward with complacency to 
the time when all our farms will be devoured by the Money 
Pow r er. When that event occurs, the farmers will be serfs 
upon the soil redeemed by their fathers from the wilder¬ 
ness. 

In a few years more, if things go on in their present 
grooves, this prophecy will be fulfilled; and no man in 
America can buy or sell, unless he is the paid agent of 
the Money Power. And if it is not checked, it will, ere 
long, extend its ownership over the whole world, and 
make all mankind its employees and servants, with its 
brand in their hand, or on their forehead. 



222 


DRAGON, SYMBOL OK MONEY POWER. 


Twelfth Coincidence of Fact: —The number of the 
name of the Beast :—“Here is wisdom. Let him that hath 
understanding count the number of the Beast: for it is the 
number of a man ; for his number is six hundred and three 
score and six." 

The manner in which this number of the name of the 
Beast is mentioned makes it evident that the number of 
the name is a very important means of identifying this two 
horned beast with the power it symbolizes. 

From a very early period, the Christian fathers turned 
their minds to the exposition of this symbolic number. 
Irenjeus, Bishop of Lyons, in Gaul, who lived in the Sec¬ 
ond Century, gives three names that have this number 
666 .—The first name was Euanthes, which he merely 
mentions, and passes by, with the remark, “but we affirm 
nothing respecting this.”—The second name he gives is 
Lateinos. This name has been very generally adopted by 
expositors, who supposed this Serpent to be the Papacy. 

The third Name which Ireneus Gives as Con¬ 
taining the Number 666 , is Teitan ; and this name 
he'himself adopts. 

It may be that this is not the name intended by divine 
Inspiration; and that, when this Dragon Imperialism shall 
be fully developed and known to the world, and its 
history be complete, it shall have a ruler or king, in whose 
name the fated number will appear. But in the present 
state of our knowledge of the subject, I accept Teitan as 
the fated number; and it is my belief that this is the 
number that was intended in the text; and for the follow¬ 
ing reasons; — 

1. Titan was the Great Legendary Giant 

of the Olden Time. We still use the name to designate 
any colossal power. I believe that one reason why 
divine Inspiration called this Serpent Titan, was to indi- 


MONEY POWER, A TITAN WARRING AGAINST GOD. 223 

cate its immense power, its huge proportions, its Titanic 
strength. 

1) The Money Power is the most colossal empire that 
has ever risen upon the earth. It is a Titanic empire; the 
greatest that has ever existed. And the Serpent, its 
symbol, is a “great” Serpent, stretching its mighty folds 
all over the earth. It is a Titanic Serpent. 

2) In its relations with the Beast, the Dragon has all 
the power; for “The Dragon gave power to the beast;” 
and this Serpent “exerciseth all the power of the first beast 
in his presence.” 

3) So, in the third vision of Daniel, the Little Horn 
which was the symbol of the Roman empire, grows so 
great, at last, that its top stands up among the stars. It 
becomes a “Titan” Horn. And the vision of it was so 
terrible that it entirely unnerved the prophet, so that he 
was sick for three weeks. 

This horn became a Titan Horn only after the re-estab¬ 
lishment of the Roman empire, under the joint rule of 
the Money Power and Prussia. The power of this Joint 
empire shall be so collossal that nothing can represent it 
but a Titan Horn rising up above the earth, till its top 
is among the stars.—The fact that this “Little Horn” be¬ 
came a “Titan” Horn has never been observed by ex¬ 
positors. 

2. But the Special Reason why the Dragon is Designated 
by the Name “Titan,” is its Antagonism to God. 

1) The Titans, according to the Heathen legend, warred 
against Jupiter, and hurled their missiles against Olympus; 
and they were only beaten, at last, by Jupiter smiting 
them with his thunderbolts. Titan, according to the 
legend, was the king of the Titans, and rvas thus the 
Arch-rebel against the gods. 

2) It is believed that the legendary war of the Titans 



224 DRAGON, SYMBOL OF MONEY POWER. 

against the gods, was the heathen mythological form of 
the rebellion of Satan and his angels against God. So 
that, the Satan of the Bible is the mythological Titan. 

3) In the biblical idea, Satan is embodied in the serpent. 
And the Dragon, in the book of Revelation, is called the 
Devil and Satan. This indicates that the Dragon sym¬ 
bolizes that power which, in the political world, is the 
great antagonist of God, as Satan is in the spiritual world. 

4) The Dragon is the Great Antichristian Power 
of the Latter Days. In its full development, the head 
of the Dragon power is the Antichrist. 

1] We have seen how the Jews are even now hoping 
and expecting to overthrow Christianity. A very intelli¬ 
gent Jew once, in the heat of discussion, gave me the 
idea of the Christ which the modern “reformed” Jew 
holds. He said the prosperity of the Jews in the earth— 
he did not choose to say their dominion —is what is set 
forth in the writings of the Prophets under the figure of 
the Christ. 

In the Jewish idea, the Dominion of the Jew 
Money Power is the Christ. And, at the last, I 
think that the head or king of the Money Power will claim 
to be the Christ. 

Christ means “The Anointed One,” in allusion to his 
being the promised royal descendant of David, the prom¬ 
ised King of Israel. The Money Power, it seems, will at 
last choose a king, who is to be the acknowledged king 
of Israel,—the long expected, the long promised One,— 
the Christ. They will not claim that he is Divine, or the 
Son of God. For they deny that, in the Deity, there is 
the relation of Father and Son. They deny the Divine 
Trinity. They “deny the Father and the Son.” They 
recognize only the unity of God. 

The Jews have always expected a temporal 
sovereign as the Christ. They rejected the Lord Jesus, 


MONEY POWER WILL BE THE ANTICHRIST. 225 

because He said “My Kingdom is not of this world.” 
They expect a Christ whose kingdom is of this world— 
who is merely a temporal monarch. The time will prob¬ 
ably come when, in the plenitude of its power, the Jew 
Money Power will set up a king, and declare him the 
promised Messiah. They will declare him the founder of 
a new Dynasty that is to rule the earth forever. 

They will proclaim him the first of a line of 
kings,—Anointed Ones, —who, in their expectation, 
will all bear the title of “the Christs;” as the kings of 
Egypt were called “the Pharaohs,” and the emperors of 
Rome,“the Caesars.”—The present attitude of the Jew 
Money Power is a stern menace to Christianity. 

2] The Jew London Money Kings would break 
down our churches. In monopolizing the trade of our 
towns, and getting possession of our farms, the Money 
Power hopes to succeed in accomplishing the aims against 
Christianity which the Jews are known to entertain. If 
the Money Power should succeed in its aims, our churches 
will inevitably be broken down. Strike down our farming 
yeomanry and the tradesmen of our towns, and who would 
sustain our churches? our schools? Our churches in 
town and country would be pastorless for want of sup¬ 
port. Our school systems would fall into wreck in the 
universal poverty that would prevail. Our Christian civ¬ 
ilization would lie in ruins. 

It is well known that the Jews, in our day, entertain 
strong hopes of overthrowing Christianity.—Prof. Godet, 
of Lausanne, utters the following warning of the danger 
threatening Christendom from the hostility of the Jews. 
He says:— 

“On hearing this word ‘Jewish,’ many of you perhaps 
smile. That which bears that title does not seem to them 
very dangerous for the Church. They do not say, * Can 
there any good thing come out of Nazareth?’ but ‘Can 



226 DRAGON, SYMBOL OF MONEY POWER. 

anything dangerous to us come out from thence?’ To 
this contemptuous smile, I will oppose another, that of 
the Israelites themselves,—I mean the intelligent Israel¬ 
ites,—when they see 11s Christians bestirring ourselves for 
the propagation of the gospel, * * * * * and carry¬ 
ing the religion of the Bible to the ends of the earth. 
‘This religion,’ they say quietly, ‘is our religion. All 
these pains you are taking for us. * * * ' * * For 
the God of the Christian is the God of Abraham, Isaac 
and Jacob,—the God of the Jews. The doctrine of Jesus 
is none other than that of our prophets. One thing only 
separates 11s from these Christians,—the worship of the 
Christ. Let this absurd dogma of the divinity of a man,— 
one that is contrary to the most elementary principles of 
Monotheism,—let this last remnant of the ancient pagan¬ 
ism living on in Christianity fall to the ground, and the 
gospel, thus purified, is Judaism. Christians, we are wait¬ 
ing for you! It is not we who are coming over to you; 
it is you who are coming over to us.’ * * * * * 

So think, and so speak clear sighted Jews.”* 

Inspector Lictor Platt, in a recent course of lectures 
before the University of Berlin, said :— 

“Everywhere one thought rules the Jews—the thought 
that the Christian idea shall at last be vanquished by the 
Jewish; and their common effort is directed to this end,— 
to supplant Christianity in the collective life of the na¬ 
tions.” f 

The Christian Editor of one of the leading evangelical 
papers of North Germany writes in the same strain : 

“Among the Jews themselves, the conclusion is reached, 
not that the Jews will have to return to Christianity, but 
that the Christians will have to be turned to the Jewish 
faith.”— Nate Evang. Kirchen-Zeitung. , Feb. 4, 1882. 

A Jewish writer, quoted in the same paper, asserts with 
all assurance: “Reformed Judaism is the confession to 
which the dominating church must return, if she will com- 


* Lectures in Defense of the Christian Faith, pp. 316, 317. 
t Kent Evang. Kirehen-Zeitung. Berlin, Aug. 27, rS8i. 






2 28 DRAGON, SV.MBOI. OF MONF.Y POWER. 

3rd. The Dragon and the Man-child. 

We now turn to the symbol of the Dragon in the 12th 
Chapter of Revelation, where are presented ten other 
Coincidences of Fact. Until now, we were not prepared 
to take up the exposition of the Coincidences of Fact set 
forth in this symbol of the Dragon, inasmuch as it was 
necessary, first, to understand the relations of the Dragon 
to Great Britain and the Prussian empire. 

The following is the text in the 12th chapter of Reve¬ 
lation : 

“And there appeared a great wonder in heaven; a 
woman clothed with the sun, and the moon under her 
feet, and on her head a crown of twelve stars. 

“And she, being with child, cried travailing in birth, 
and pained to be delivered. 

“And there appeared another wonder in heaven; and 
behold a great red dragon having seven heads and ten 
horns, and ten crowns on his heads. 

“And his tail drew the third part of the stars of heaven, 
and did cast them to the earth. 

“And the dragon stood before the woman which was 
ready to be delivered, for to devour her child as soon as 
it was born. 

“And she brought forth a man-child who was to rule 
all nations with a rod of iron. 

“ And her child was caught up unto God and to His 
throne. 

“And the woman fled into the wilderness, where she 
hath a place prepared of God, that they should feed her 
there a thousand two hundred and three score days. 

“ And there was war in heaven : Michael and his angels 
fought against the dragon : and the dragon fought and his 
angels; and prevailed not: neither was their place found 
any more in heaven. 

“And the great dragon was cast out, that old serpent, 
called the Devil, and Satan, which deceiveth the whole 
world : he was cast out, and his angels were cast ouc 
with him. 

“ And I heard a loud voice saying in heaven, now is 



EXPOSITION OF THE LOWER AERIAL HEAVEN. 229 

come salvation and strength, and the kingdom of our God, 
and the power of his Christ: for the accuser of our 
brethren is cast down, which accused them before our God 
day and night. 

“And they overcame him by the blood of the Lamb, 
and by the word of their testimony; and they loved not 
their lives unto the death.” Rev. xii: 1 — 11 . 

In the remaining portion of the chapter there are other 
Coincidences of Fact, which prove that the Dragon is a 
symbol of the Money Power; but, as they require, in 
order to bring them to bear on the question, a comparison 
with other prophecies not yet explained, they aie omitted. 
But, without them, there are, in the part of the chapter 
already quoted, ten Coincidences of Fact, which prove 
beyond the possibility of doubt that the Dragon is the sym¬ 
bol of the Money Power. 

Before presenting these Coincidences, it is first neces¬ 
sary to give an 

1. Exposition of the Other Symbols. 

In the 12th Chapter of Revelation, the scene is laid in 

1) The Lower Aerial Heaven. 

The Lower Aerial Heaven, in the Book of 
Revelation, is Always the Symbol of America, con¬ 
sidered geographically as a country. The principle on 
which this symbolism is based is very simple and clear. 

John received his Revelation on the Isle of Patmos, in 
the Higean Sea. The Revelation, like all the other 
prophecies, was given by vision. The Isle of Patmos is 
in the Southeastern part of Europe.—As the Seer looked 
out toward the West, he beheld Europe spread out before 
his eye; and, beyond it, was another country, up in the 
air above Europe; and above this country was the highest 
Heaven, where the Throne of God was placed. Above 



230 DRAGON, SYMBOI. OF MONEY POWER. 

the earth of Roman Europe was a sky, in which sun and 
moon and stars were beheld. 

This was the Apocalyptic Landscape which John 
beheld in his vision. He was, no doubt, familiar with 
the geography of his time, and recognized the outlines of 
Roman Europe, which he called "the Earth.” He 
naturally, in accordance with the ideas of his age, sup¬ 
posed the Eastern Continent to be the whole of the world, 
and that there was nothing on this earth beyond. He 
therefore called the country which he saw in the air, 
above Europe, "Heaven.” But that country was America; 
and was placed in the Apocalyptic landscape above Eu¬ 
rope, in the air, in perfect accordance with the laws of 
perspective. 

In Accordance with the Laws of Perspective, 
the Foreground of a Landscape is always at the 
bottom of a picture, and the background, at the top. As 
John looked toward the West, therefore, he saw Roman 
Europe at the bottom of the landscape, as though on the 
ground, while America would appear above, at the top of 
the landscape.—But, with three thousand miles of per¬ 
spective, America would be diminished to a point, and be 
invisible. In this respect, the law of perspective would 
have to be set aside; and America would be brought into 
the foreground sufficiently to be clearly visible, and placed 
above Europe, as though in air. In accordance with 
the law of perspective, America, in the book of Revela¬ 
tion, is always presented in the landscape in the lower 
aerial heaven. 


2) A Glorious Woman 

appears in the Lower Aerial Heaven,—America,—"clothed 
with the sun, and the moon under her feet, and on her 
head a crown of twelve stars. ” Expositors generally 
agree that this Woman is the symbol of the Christian 



THE WOMAN, SYMBOL OF CHURCH. 23 1 

Church. The Two Witnesses, in the nth Chapter of 
Revelation, are also the symbol of the Church. As the 
Two Witnesses prophesy clothed with sackcloth “one 
thousand two hundred and three score days,” so the 
Woman is in the wilderness “one thousand two hundred 
and three score days.” 

The mistake into which expositors have fallen, 
in supposing that the woman is presented here before she 
fled into the wilderness, has been the cause of much error 
in the interpretation of this vision. Owing to this error, 
expositors have looked for the fulfillment of the vision in 
events that occurred in the Early History of the Church. 

But, in the sixth verse, where it is said, “The woman 
fled into the wilderness, where she hath a place prepared 
of God that they should feed her there a thousand two 
hundred and three score days,” it does not mean that the 
woman then fled into the wilderness for the first time. Sev¬ 
eral considerations make this evident:— 

1] The Greek verb rendered “fled” is not in the im¬ 
perfect tense, so as to indicate action beginning and con¬ 
tinuing; but it is in the aorist, indicating completed ac¬ 
tion, The woman was not then making her first flight into 
the wilderness: she had been there for a long time, and 
only emerged from obscurity for a brief space, at this time, 
and now returned to it again. 

2] The woman fled into the wilderness, “where,” says 
the Seer, “she hath a place.” She had been in her “ place” 
a long time; she now returned to her “place.” 

3] This return to her “place” is like her subsequent re¬ 
turn, in the 14th verse, where the woman again flies to her 
“place” in the wilderness. In both instances, the woman 
flies to her refuge; but it does not mean, in either case, 
that she flies thither for the first time. 

Hence, the woman flying to her “place” does not give 



232 DRAGON, SYMBOL OF MONEY POWER. 

us any clue to the era of the vision: that must be learned 
from other facts. 


3) A Man-Child 

was born of this woman,—the Christian Church, ^in the 
Lower Aerial Heaven, “who was to rule all nations with 
a rod of iron.” 

This Man-child is the symbol of the United 
States; as is evident from the concurrent teachings of 
prophecy:— 

1] The Man-child is born in the Lower Aerial Heaven, 
which is America as a country. 

2] The Man-child is represented as born, the child of 
the Church. And the United States is, in a remarkable 
manner, the child of the Christian Church, as I have shown 
in my lecture on The United States in Prophecy. All the 
American Colonies were founded and settled by Christians 
seeking a refuge in the New World, where they might 
worship God according to the dictates of their conscience. 
There were the Puritans in New England, the Baptists in 
Rhode Island, the Dutch Calvinists in New York, the 
Swedish Lutherans in New jersey, the Scotch Covenant¬ 
ers from New York to North Carolina, the English Quak¬ 
ers in Pennsylvania, the Episcopalians in Virginia, the 
French Huguenots in South Carolina, and the German 
Moravians in Georgia. The United States is emphatic¬ 
ally the Child of the Church. 

3] In the first vision of Daniel, the United States is 
represented under the symbol of the “Stone” which was 
“cut out of a mountain without hands”; which is inter¬ 
preted by the Prophet as a kingdom set up by the God 
of heaven. This is very similar to the representation of 
the origin of the United States,—the Man-child,—in the 
book of Revelation. In Daniel, God is represented as the 
founder of the country, without anything being said of 
any human instrumentality: Here in Revelation, the hu- 


MAN-CHILD, THE UNITED STATES. 


233 


man instrumentality, the Church, is especially mentioned. 
But the divine or Providential origin of the country is set 
forth in both instances. 

4] The Man-child was “ to rule all nations with a rod 
of iron.” And it is the accordant voice of prophecy that 
the United States is to be a world-wide Republic, ruling 
all the nations of the earth. 

5] “The Man-child was caught up unto God and to His 
Throne.” This indicates the providential deliverance of 
our country in the War of Independence, and the provi¬ 
dential protection that has kept us throughout our entire 
career as a nation. 

Having identified all the other symbols of this vision of 
the 12 th chapter of Revelation, we are now ready to 
identify the Dragon, beyond the possibility of doubt or 
question.—We have identified the Woman, the Man-child, 
and the place of his birth. This being done, we cannot 
mistake the interpretation of the Dragon. 

2. Coincidences of Fact. 

Thirteenth Coincidence of Fact: — In the birth 
hour of the Man-child, “the Dragon stood before the woman, 
which was ready to be delivered, for to devour her child as 
soon as it was born. ” 

The United States was born as a nation in the War of 
Independence. At that time, the Great Red Dragon at¬ 
tempted to devour the infant nation. Great Britain was 
the power which then attempted to destroy our national 
existence. We must, therefore, either identify the Dragon 
with the British government, or with some power in 
Britain, behind the throne, greater than the throne. 

As we have seen, the Dragon is not the symbol of Great 
Britain. The Dragon is the seventh grand form of.Im¬ 
perialism in the world : Great Britain is no such Imperial¬ 
ism. England and Scotland are Two of the Ten King- 



234 DRAGON, SYMBOL OK MONEY BOWER. 

doms of Europe. They arc represented in prophecy as 
the two horns on the head of the Dragon. Moreover, 
Prophecy represents Great Britain and the United States 
as united in the great future war against the Dragon and 
the Beast.—The Dragon is not the symbol of Great Britain 
as a nation. 

Hence, the Dragon must represent some power having 
its seat in Britain, and having the British government 
under its control ; and which influenced Great Britain to 
war against the United States, in our War of Independ¬ 
ence. — This is just the historical status of the Money 
Power. It controls the British government with autocratic 
sway. It has controlled it for over a hundred years. 

The Money Power was the prime mover in the 
oppression of the American Colonies, which drove 
them to revolt, '('he Landed Aristocracy, the Moneyed 
Capitalists, and the Mercantile Class of Great Britain were 
a!) united in holding stock in the British East India Com¬ 
pany, which was then the Money Power; and their com¬ 
bined influence had complete control of the British Parlia¬ 
ment. 

During the trial of Warren Hastings, there were, in the 
administration party, a large number of the stockholders 
of the East India Company who had seats in Parliament. 
But the Administration party was in a minority in the 
Company, which sustained Hastings against the govern¬ 
ment. Many of the Opposition in Parliament were, no 
doubt, also stockholders. The connection of the Company 
with the government was very close; so that it would 
carry in Parliament any policy on which the Company 
was united. 

In England, the Money Power is a Third Es¬ 
tate, greater than King and Parliament. In 1775, as 
now, the British Parliament was the pliant tool of the 
Money Power, and registered its will. It was not yet the 



THE MONEY POWER IN 1776. 235 

age of steam, and the Money Power looked to Colonial 
dependencies as the chief source of gain. With its experi¬ 
ence in India, it naturally desired to make another India 
of the American Colonies ; and it derived great profits from 
their commerce, and great revenues from their taxation. 

No sooner was the Seven Years War over, than the 
Money Power, impelled the British Parliament into a sys¬ 
tem of oppressive taxation and. commercial restrictions, 
which drove the Colonies into Revolution. The whole 
question in dispute between the Colonies and the Mother 
country was taxation, industry and trade ; matters in which 
the Money Power was specially interested, and in which 
it wished to enforce the policy that would promote its 
interest. The tax on tea, which drove the Colonies to re¬ 
volt, was enacted for the special benefit of a corporation 
connected with the East India Company, which had a 
great quantity of tea on hand. While the nominal tax 
was retained, the tea was made lower than before in the 
interest of the Company, so as to enable it to sell. The 
law of the British Parliament for the benefit of the East 
India Company was the special occasion of the Revolu¬ 
tion. 

The Money Power through its control of Par¬ 
liament drove the Colonies to revolution ; and then, 
instead of attempting to allay discontent by concession, it 
attempted to destroy our national existence, by war. 

There can be no doubt that the Dragon, which wished to 
devour our infant nation in the War of Independence, 
was the Money rower, which then ruled the British Parlia¬ 
ment. 

This Coincidence of Fact, alone, is sufficient to prove 
that the Dragon is the symbol of the London Money 
Power. 

Fourteenth Coincidence of Fact: —“On his heads” 



236 DRAGON, SYMBOL OF MONEY POWER. 

were “seven crowns." The Seventh or Dragon Head was, 
at that time, a crowned Imperialism. 

In 1775, the East India Company which was the head 
of the Money Power was a crowned Imperialism.. Ac¬ 
cording to history it became an imperial power in 1757, 
at the victory of Plassy. In 1764, it was ruling an em¬ 
pire in Bengal of forty million subjects, having greater 
revenues than the most powerful kingdom of Europe.—In 
1775, the Dragon head had just become a crowned Im¬ 
perialism. 

Fifteenth Coincidence of Fact :—The tail of the 
Dragon “drew the third part of the stars of heaven and 
did cast them to the earth,” 

In the Revolutionary War, the British forces overran 
about one-third of the United States. In the latter years 
of the Revolution, the British forces held their head¬ 
quarters in New York City, and broke down all organized 
resistance in North Carolina, South Carolina and Georgia, 
and overran part of Virginia. About ono-third of the 
country was thus “cast down” by the invading forces. 
The tail of the Dragon “cast down one-third of the stars” 
that glittered on our flag. 

Sixteenth Coincidence of Fact :—But the Dragon 
did not succeed: “ the Man-child was caught up unto God 
and to His Throne." 

This catching up of the Man-child to the Highest 
Heaven, as beheld by John, symbolized the providential 
deliverance of the United States in the Revolutionary 
War, and the Divine protection of our country ever since. 
Our Revolutionary fathers all recognized the hand of Di¬ 
vine Providence in the success of our country. Wash¬ 
ington, speaking of the events of the Revolution, said:— 

“ The hand of Providence has been so conspicuous in 
all this, that lie who lacked faith must have been worse 



FUTURE INVASION OF THE UNITED STATES. 237 

than an infidel; and he more than wicked who had not 
gratitude to acknowledge his obligations.” 

Seventeenth Coincidence of Fact: — “And there 
was war in heaven : Michael and his angels fought against the 
Dragon: and the Dragon fought and his angels .”—Here is 
a future war represented as occurring in America,—the 
Lower Aerial Heaven,—between the Dragon and Michael. 

The place where this war occurs is clearly set forth: It 
is the same Lower Aerial Heaven where the Man-child 
was born. The Man-child is now grown up to man’s es¬ 
tate, and is called Michael. In the fourth vision of Dan¬ 
iel, also, Michael is presented as the symbol of the United 
States. 

I could not for a long time see the basis of this sym¬ 
bolism. I could not see the point of similarity between 
Michael and the United States, which always lies at the 
foundation of all symbolism. 

But it is very plain. Michael is the Archangel—the 
Chief of the 'Hosts of God in heaven. Divine Inspira¬ 
tion always regards the United States from the standpoint 
of its future grandeur and glory, when it shall rule the 
whole earth in righteousness, for God. There is a strik¬ 
ing fitness in the Leader of the Hosts of God in heaven 
being made the symbol of the United States, the great 
future leader of the Hosts of God on earth, during the 
grand millennial age. 

Only the fact that there is to be a future war 
between the Dragon and Michael, between the Money 
Power and the United States, can be learned from this 
passage. 

In the fourth vision of Daniel, there is a synchronous 
prophecy, which represents the Prussian empire as in¬ 
vading the United States. Speaking of the King who 
‘‘shall do according to his will”—w'hich is the Prussian 
empire—the angel tells Daniel that he shall overthrow 



23 <S DRAGON, SYMBOL OF MONEY POWER. 

many countries, and says:—“ He shall enter also into the 
glorious land.” Daniel xi: 49. 

In Daniel VIII: 9, it is said of the Roman empire, 
there presented under the symbol of “a little horn,” that 
it “waxed exceeding great toward the South, and toward 
the East, and toward the glorious land.” As the Roman 
empire actually grew great toward the South, and East 
and West, it is manifest that its Westward growth is here 
set forth as a growth “toward the glorious land,” the 
growth toward the East and South being previously 
mentioned. This shows that “the glorious land” lies to¬ 
ward the West of Europe. That designation can only 
point out the United States. 

The Angel Called our Country “the Glorious 
Land,” in view of its future destiny, as an Universal 
Republic, giving religion, liberty and civilization to the 
world throughout all coming ages. The warlike entrance 
of the Wilful King, — the Prussian empire,—into the 
Glorious Land, foretells a Prussian invasion of the United 
States. 

Putting the two Prophecies Together, they 
Foretell an invasion of the United States, by the Prussian 
empire as the agent of the Money Power. In the future, 
the Money Power will exercise the power of the Prussian 
empire, as it now exercises the power of Great Britain. 
As it influenced the British government to invade China, 
and to conquer Egypt and Burmah, so it will influence 
the German empire, when extended over Southern and 
Western Europe, to invade the United States. 

Prophecy does not say what cause of quarrel the Money 
Power will have against our country. It does not say 
whether we shall be utterly bankrupted as Egypt was, 
and unable to pay the interest on our vast debt to the 
Money Power; or whether we shall attempt to resist its 
encroachments before we are finally ruined, as Burmah did. 


INVASION BV PRUSSIAN EMPIRE. 239 

Whatever its ground of umbrage, the Money Power will 
set the Prussian empire upon us. 

And Prussia will not be reluctant to undertake the con¬ 
quest. Our Republic is a standing menace to monarchy. 
We are the most powerful nation on the globe; and our 
influence in the world is even mightier from our moral 
power, than from our national greatness. If tilings could 
go on prosperously with us for thirty years more, Europe 
would become Republican by the progress of liberal ideas. 
The despotic Prussian empire over Southern and Western 
Europe will never be safe while the Great Republic of the 
West stands. The stability of monarchical institutions re¬ 
quires that the American Republic shall be overthrown and 
subjugated. 

The Invasion would not be Attempted with a 
small Army. Prussia, at the head of Southern and 
Western Europe, and backed by the unlimited loans of the 
Money Power, might easily put two million men in the 
field. It is probable that the army of invasion will reach 
that number. The British government, under the rule of 
the Tories, will give its support to the Prussian empire, 
and lend its fleets for the transportation of the invading 
army and its supplies. According to military probabili¬ 
ties, the line of invasion will be the St. Lawrence River 
and Lake Ontario, and thence down east of Lake Erie, in 
an attempt to take possession of the line of the Alleghanies, 
and cut off the Eastern and Middle States from the West 
and South. 

And together with this, having command of the ocean, 
the invaders will probably attempt to seize and capture 
New York City from Long Island, and renew the attempt 
of Burgoyne to cut off New England from the West, by 
taking possession of the line of the Hudson. 

The statements of Prophecy indicate a conflict of un- 



24° DRAGON, SYMBOL OF MONEY POWER. 

exampled magnitude. Prussia invaded France with one 
million men; the rest of her forces being kept at home to 
guard the frontiers. And the invading army crushed 
France almost without a struggle. But when Prussia shall 
invade America, it will be Greek meeting Greek, and 
the mightiest conflict will ensue on which the sun has ever 
shone. 

Eighteenth Coincidence of Fact :—“The Dragon 
prevailed not ;] neither was their place found any more in 
heaven. And the great Dragon was cast out, he was cast 
out into the earth, and his angels were cast out with him .’ 1 

When this great future conflict comes, we shall under¬ 
stand the design of Providence in permitting the outbreak 
of the late War. It will then be seen that our Civil War 
saved our country and the world. If, when this future 
invasion comes, we were distracted by a sectional issue, 
and unarmed, as we were in i860, our position in the face 
of a grand invasion would be hopeless. Before we could 
prepare for war, the heel of the despot would be upon our 
neck. But when the invasion comes, we shall be thor¬ 
oughly armed with the rveapon^of our Civil War; and, all 
distracting issues past, North and South will present a solid 
front to the foe. We shall be fighting for religion and 
liberty, for home and property rights. The country will 
be fired with unexampled enthusiasm. The fiery valor of 
the South will be united with the cool stubborn courage of 
the North; and together they will be irresistible. We 
learned in the late War the value of flanking movements, 
and developed a new arm of war in mounted infantry. 
When the invader shall march into the country, we will 
meet him in front, and envelope him with flanking move¬ 
ments. He must either fight or retreat. There will be 
quick, hard rapid fighting. Prophecy indicates that we 
press the fighting, and put the invaders on the defensive. 


DRAGON, A DECEIVER AND ACCUSER. 241 

We attack; we defeat them; We drive them out of the 
country. 

Thenceforth, the Money Tower has no place in the 
United States. 

Nineteenth Coincidence of Fact :—It is said that 
the Dragon “dcccivcth the whole world." 

The Money Power has deceived the whole world down 
to the present time. It has deceived the whole world 
as to its existence. It has hidden itself in its London 
den, and made the world believe that the agents it ap¬ 
pointed to manage the companies it organized in the vari¬ 
ous countries, were the owners of the companies they 
manage. It has deceived the whole world as to the right 
laws of industry, making the world believe that the system 
of industry which is reducing the world to bankruptcy is 
beneficial to mankind. It has deceived and betrayed 
everybody who has trusted it, systematically "freezing 
out ” those who have put money into enterprises controlled 
by it. It has deceived the whole world by booms in city 
property, and by booms in business enterprises, which 
it has started for the purpose of robbing the public of 
its money invested in them. It has deceived the whole 
world, and made it believe that prices should be left to 
regulate themselves by the law of supply and demand;— 
when it constantly regulates prices, by the might of 
capital, through the instrumentality of Boards of Trade, 
which are absolutely controlled by it. It deceives the 
whole world in nrakiug people believe that Capital is 
beneficent;—when it is using its capital to bankrupt the 
world, and reduce mankind to the condition of serfdom.— 
The Money Power is the Arch-deceiver. 

Twentieth Coincidence of Fact :—The Dragon is 
railed “the accuser of our brethren 

This will probably be fulfilled in the future. When the 
Money Tower shall be exposed, the people of God will 



242 DRAGON, SYMBOL OF MONEY POWER. 

denounce it from pulpit and platform. Then the Money 
Power, through the papers which it controls, will de¬ 
nounce all who take ground against it with all manner of 
false accusation. 

So fearful will be its accusations, that only they will dare 
assail it, who take their life in their hand, and “love not 
their lives unto the death.” In many papers, the Jews 
own a majority of the stock, and have them completely 
under their control. Others they will suborn with bribes. 
The Shimeis of the press will be manifest as the mouth¬ 
pieces of the Dragon, by their accusations of those who 
expose the Money Power. 

Twenty-first Coincidence of Fact :—But the ac¬ 
cused overcame the Dragon, ‘ ‘ by the blood of the Lamb, and 
by the word of their testimony. ” 

God reigns. The Money Power shall fall, though all 
wealth and influence and power be on its side. They 
who expose it, though they be “ the weak of this world 
shall confound the mighty.” 

But they will “overcome him,” not by human might, 
but “ by the blood of the Lamb, and by the word of their 
testimony.” The “blood of the Lamb” has redeemed 
the human race from the thralldom of evil; and He, 
unto whom “ all power in heaven and earth is given,” 
will not suffer the Money Power to deprive mankind of 
its promised Millennium of blessedness, and grind it down 
beneath oppression and wrong. He will guard His serv¬ 
ants,—will give “the word of their testimony” power to 
rouse the people.—Let them present “the word of their 
testimony,”—the testimony of prophecy against the Dragon, 
which will be the power of God to overthrow this titanic 
evil. 

Twenty-second Coincidence of Fact :—Divine in¬ 
spiration here calls the Dragon ‘ 1 that old serpent called the 
devil and Satan.” 


MONEY POWER, EMBODIMENT OF SATAN. 


243 


The Jew Money Power is the embodiment of evil in 
the Latter Days. It is the enemy of God and man. The 
Jew Money Kings are infidel to a man. They embody the 
very spirit of Antichrist: holding only to the unity of 
God, they “deny both the Father and the Son.” They 
wish to break down all industry, as it has heretofore ex¬ 
isted in the world: They wish to break down all business 
men, and reduce them to poverty, and dependence on 
themselves: They wish to break down, society as it now 
exists, and reorganize it on the basis of their own ascend¬ 
ency, and the subordination of mankind to them : They 
loathe Christianity, and wish to break it down and substi¬ 
tute for it an infidel Judaism. Hoping to establish a 
universal monarchy under the rule of a Jewish king, they 
are in principle opposed to Republicanism. Desiring, in 
this country, to take from the people all their property 
and reduce them to the condition of peasants, they know 
that they can not accomplish their aims while Republic¬ 
anism exists. They know that a free people will not sub¬ 
mit to such wrong, and that they can only establish their 
power by the overthrow of Republicanism. 

Already from some*of their agents we have ominous 
utterances of a purpose to subvert Republicanism. If 
the Money Power should get possession of our farms, and 
succeed in breaking down the business men of our towns, 
the days of the Republic will be numbered. Then we 
may fear that the state of things suggested in the follow¬ 
ing article in the Nevada Chronicle , will be inaugurated :— 

“We need a stronger government; the wealth of the 
country [the Money Power and its agents] demands it. 
* * * * * The Capital of the country demands 
protection. The wealth of the country has to bear the 
burden of the government, and it shall control it. The 
people are becoming educated up to this theory rapidly, 
and the sooner this theory is recognized in the constitu- 



244 DRAGON, SYMBOL OF .MONF.Y POWER. 

tion and the laws, the better it will be for the people. 
* * * * * To avert fearful bloodshed,—a strong 
central government should be established , as soon as possible. ” 

The Money Kings will establish an empire in 
this country, if they get possession of all industry and 
property. 

It will not be difficult for them to bring it about. 
With their absolute control of industry, they can make 
times so hard as to cause intolerable suffering. Stopping 
the construction of railroads, and city improvements, and 
manufactures and iron mills, they can fill the country with 
hundreds of thousands of starving tramps. They can then 
get their paid emissaries to pretend great sympathy for the 
people, as their emissaries lead the Nihilists of Russia, and 
the. Liberals of Central Europe and Italy. And when they 
become popular leaders, they can easily excite the starv¬ 
ing people to outbreaks and insurrections. Such outbreaks 
are always easily suppressed by military force; and in the 
victory over the outbreaks, an Imperial government might 
be established. Such outbreaks are always suppressed; 
and their suppression is the method by which Republics 
are converted into imperial despotisms. 

Let the Money Power succeed in carrying out its aims, 
and our country is ruined. The grand yeomanry of our 
country is our pride and safety. It is the backbone of the 
Republic—the strong column that upholds the temple of 
our liberties and our Christian civilization. Let our farm¬ 
ers lose their farms, and our yeomanry become peasants, 
and all is lost. 

This is the greatest crisis the world has ever 
known. Upon its issue depends the destiny of mankind 
forever. It will determine whether the world shall go on 
to a millennium of liberty, peace and blessedness, or be 
crushed by the triumph of the forces that are striving to 
arrest the progress of our age, and bring upon the world 


IMPORTANCE OF PRESENT CRISIS. 245 

a new Feudal Era, in which the mass of mankind will be 
reduced to the condition of serfdom beneath the yoke of 
an Aristocracy of Jew Money Kings, who will grind man 
down beneath the heel of oppression forever. 

For, that yoke, once fixed upon the world, can never 
be shaken off. The Money Kings, with a mighty govern¬ 
ment under their control, would keep the masses of man¬ 
kind reduced to the condition of peasants in hopeless 
bondage. In this age of warfare with cannon and gun¬ 
powder, an unarmed peasantry could never cast off the 
yoke of the Money Power, in control of the government, 
and having possession of all wealth.—There are two Mil¬ 
lenniums before the world: one, a millennium of peace 
and blessedness, under the reign of Liberty and Religion; 
the other, the reign of Oppression and Wrong, under the 
rule of the Money Power. The present crisis will deter¬ 
mine which shall dominate the earth, from now to the end 
of time. The destinies of the Future are now hanging in 
the balance. Either the Money Power must go down, or 
the hopes of humanity must set in darkness. 

Well is the Money Power called Satan, for it is the very 
incarnation of Satanic malignity and evil. 


Who can doubt that the Great Red Dragon is the sym¬ 
bol of the Jew London Money Power? Its identity with 
it is proved by six Historical Marks—by twenty wonderful 
Parallelisms of Character—and by twenty-two strange and 
startling Coincidences of Fact. There are thus forty-eight 
separate and distinct points of resemblance; in respect of 
historical facts, of resemblances of character, and of coin¬ 
cidences between facts mentioned of the symbol and facts 
true of the Money Power. The proofs that the Dragon is 
the symbol of the Money Power are just eight times as 
numerous as those which prove that the Lion with Eagle’s 


246 DRAGON, SYMBOL OF MONEY POWER. 

Wings is the symbol of the Babylonian empire, or the 
Bear, the symbol of the Persian empire; and, in their 
strange and wonderful similarities, these proofs are a hun¬ 
dredfold stronger than those which identify any of the 
other symbols of the prophetic scriptures with the powers 
they set forth. Divine Inspiration has heaped proof upon 
proof, evidence upon evidence, until the mind almost wea¬ 
ries of it; and until no dispassionate mind can resist the 
mass of evidence that forces conviction. 

The proof presented in this work is not one-sixth of the 
evidence presented in the prophetic scriptures, that the 
London Money Power is the grand Imperialism so bitterly 
denounced in the Bible as the great Archenemy of God 
and man; and which is foretold in prophecy, as destined 
to rise and be overthrown, in the Latter Days. When all 
the evidence is before the public, it will convince the most 
incredulous mind that God, in the inspired prophecies of 
scripture, has depicted the Dragon in this perfectly unmis¬ 
takable manner, in order to save mankind from its power. 


PART III. 


THE REMEDY. 

As I have lectured on the Money Power, I have fre¬ 
quently been asked what is the remedy for our present 
evils? And I have been compelled to promise that, when 
I published my work on the Money Power, I would pre¬ 
sent my views as to the proper remedy for the evils that 
now afflict our country. This must be my excuse for dis¬ 
cussing questions pertaining to political economy in a 
work having for its special aim to present the Money 
Power as set forth in prophecy. 

If further excuse be needed, it may be found in the fact, 
that when, thirty-four years ago, I discovered that the 
prophecies of the Latter Days set forth especially the 
events of our age, I perceived that, industry being the 
grandest factor in the march of advancement in our time, 
no one could understand the prophecies of the Latter Days 
without understanding the laws which govern industry. I 
was therefore led to study the principles of Political 
Economy, not from the standpoint of Adam Smith, who 
wrote in the days of household hand manufactures and 
wagon transportation, but from the standpoint of the Age 
of Steam. 

As I discovered the evils of the Money Power from its 
violations of the Laws of Political Economy, it seems 
proper, after tracing its rise and its ravages upon industry, 
to present the principles of Political Economy violated by 
it, and the proper means of remedying the evils it has 
caused. 

(«47) 



2-fS 


THE REMEDY. 


Chapter I. 

PREREQUISITES TO ANY REMEDY. 

A great and fundamental error exists, as to the 
proper means of remedying the industrial evils of our time. 
People think they are to be remedied by governmental legis¬ 
lation. Rut the industrial evils of our time arise out of a 
false industrial System. To remedy the evils, the False 
Industrial System must be overthrown. 

There are measures of governmental legislation that are 
essential, in order to the remedying of these evils. But 
the evils that now exist in the business world can not he 
remedied by legislation alone. Before we can even think 
of discussing the legislative remedies, there are two pre¬ 
liminary points necessary to be attained, 

I. FIRST PREREQUISITE TO A BETTER STATE OF 
THINGS: MORE LIGHT. 

The first essential to a better state of things is for our 
people to understand what is the cause of our present in¬ 
dustrial evils. The physician must diagnose a case before 
he can suggest a remedy. Everybody knows that the 
times are out of joint, but nobody seems to know what is 
the cause. The American people must know what the 
Money Power is doing. The whole country must know 
that the cause of all our troubles is a knot of Jew Capital¬ 
ists in London—that they have been breaking down our 
business men, for over twenty years—breaking ten thou¬ 
sand great business houses, every year, besides many 
thousands of small business men whose failure in not re¬ 
corded — that they are now breaking down the business 
men of our towns, and are putting prices of farming pro¬ 
duce so low as to ruin our farmers:—our people must 


MORE LIGHT NEEDED. 249 

know all this—and I do not believe they will suffer the 
Money Power to continue its work of ruin. 

Light must be diffused by the dissemination of the views 
presented in this work. 

The Christian Ministry, 

especially, needs to be awake on the subject.— 
The Christian ministry should set before the people the 
teachings of the Word of God with regard to the Money 
Power. They can do it without leaving their sphere of 
bible teachings. The moral sentiment of the age is 
shocked by the course of the Money Power; and the ex¬ 
ponents of the principles of truth and righteousness, as 
set forth in the precepts of the Christian religion, cannot 
afford to be silent. 

No great cause has ever triumphed in Modern Times, 
without the advocacy of the pulpit. Many wrongs have 
been stricken down in the past; but this, the mightiest 
of all wrongs, remains. It too must fall; and it would 
shame the church, were the Christian ministry to have no 
share in the honor of freeing the world from this Titanic 
evil. 

The Ministry has had, perforce, to remain silent in the 
past, because the people have been divided in sentiment: 
Labor has made the mistake of confounding all employers 
with the Money Power ; and the Ministry could not take 
part in a class feud, but had, of necessity, to remain 
neutral. In this work, the proper distinction is made; 
and it is shown that the Money Power is oppressing our 
merchants and farmers even more than Labor. 

We now have the right issue presented. There should, 
in future, be no division of sentiment among our people. 
In taking ground against the Money Power, the pulpit will 
be championing the rights of the people in the pews,— 
business men, farmers and wage earners. 


250 


THE REMEDY. 


The Christian Ministry have weightier obligations rest¬ 
ing upon them, in our age, for the promotion of the well¬ 
being of the human race, than in any past era. By tak¬ 
ing the lead in enlightening the people, and aiding in the 
suppression of the fearful wrongs that are now prevailing, 
they have an opportunity that rarely occurs in the history 
of the world, to gain the highest place for Christianity in 
the confidence and gratitude of mankind. By taking 
ground against the Money Power, and presenting it as it 
is foretold in the prophetic scriptures, they may render the 
highest service to the cause of God, and take their stand 
at the head of the united movement of our people for the 
preservation of the rights we hold most dear from the en¬ 
croachments of the Money Power. 

As, in the midst of primeval Chaos, God spoke the 
word of potver, “let there be light,” —and order 
began its reign, until Chaos disappeared; so now, from 
the inspired fountain of revealed truth let light beam forth 
upon the world from every pulpit, and the Chaos that 
pervades our business will disappear, and the harmonious 
laws which govern industry will-resume their sway, giving 
to mankind in the greater industrial advantages of our 
time, a grand era of prosperity and advancement such as 
the world has never known. 

II. SECOND PREREQUISITE TO A BETTER STATE OF 
THINGS UNITY AMONG OUR PEOPLE. 

Our People Must Stand Together. Our greatest 
misfortune has been the divisions among our people. 
Every class of industry has, unfortunately, been forming class 
organisations, and the different classes are full of the spirit 
of rivalry.—The farmers have a separate organization, and 
seek their own interests, without' any thought of the 
interests of the other industrial classes; and often, in the 
pursuit of their own interests, they work an injury to the 


UNITY OF OUR PEOPLE NEEDED. 251 

mercantile class.—The Labor of the country organizes 
separately, and consults its separate interests, without con¬ 
sideration for the other classes of industry. 

This is the first great evil that needs to be remedied. 
Until this is effected nothing can be done; all measures of 
legislation will be hopeless, and even if enacted, will be 
fruitless of beneficial result. 

The Money Power finds Strength in our Di¬ 
visions ; and it can be Proved that it Foments 
them.—Every Imperialism that has ever risen on the 
earth has risen through the disunion of those whom it 
conquered.—Thus, Macedon rose through the disunion of 
Greece. The states of Greece were, if united, much 
more powerful than Macedon. But their disunion pre¬ 
vented all concerted action. At last, Athens and Thebes 
opposed Macedon at Chcronea, with almost equal forces, 
and their defeat prostrated Greece before the Macedonian 
power.—Rome also rose through the disunion of the states 
which she conquered.—And so, the Money Power is 
establishing its Imperialism over our industries, and 
breaking our business men, through the disunion of our 
people ! I 

The Working People have seen the evils of the times, 
and have known that something is wrong; but they did 
not know the cause of the evils which prevail. They 
rightly attributed the evils of the times to Capital. But, 
not knowing that the evils are all owing to a knot of for¬ 
eign capitalists, they have drawn the line at the wrong 
place between Labor and Capital,—just above Labor. 
They have confounded our business men with the Money 
Power. 

We need to draw the line at the right place,— 
just below the Money Power and its agencies. All below 
that line,—the business men and Labor class,—are in the 
same boat: their interests are identical. Men engaged in 



252 


THE REMEDY. 


individual business never injure Labor : Labor has noth¬ 
ing to fear from independent business men: independent 
business men have nothing to fear from Labor. They are 
allies. Both have everything to fear from the Money 
Power. 

The Money Power has not, as yet, greatly injured La¬ 
bor in this country: wages are generally as good now, as 
they were twenty years ago. The Money Power has been 
busy warring upon the business class. It has been break¬ 
ing the business men, rank after rank, year by year, for 
twenty years.—When it gets the business men all broke— 
when the merchants and grocers of our towns are all ru¬ 
ined, and our farmers are all reduced to serfdom—then 
the time of the laboring men will come. Then, when 
none can resist, the Money Power will oppress Labor in 
this country, as it oppresses the Labor of India, as it 
oppresses the Labor of Great Britain, as it now oppresses 
the coal miners of Illinois and Pennsylvania. Then, it 
will grind down our whole population into a writhing mass 
of poverty and wretchedness, earning barely wages suffi¬ 
cient for subsistence—barely sufficient to sustain a weary, 
wretched loathed life. 

The Money Power is the source of danger to all classes 
of our people; and, if we are to be saved from it, our 
people of all classes must unite together against it for 
self preservation. 

I repeat it, we must draw the line high up, just 
below the Money Kings, and their agencies. All those 
below that line—if they wish to escape the ruin the Money 
Power is purposing to inflict upon us all—must all unite, 
to check its encroachments, and to promote the common 
interests of all. All must unite,—all classes of business 
men engaged in independent business, and all classes of 
wage earners. Manufacturers, merchants, grocers, bank¬ 
ers, builders, miners, farmers—professional men of all 


THE GRANGE STARTED RY MONEY POWER, 253 

kinds—all employees, of railroads, farms, mines, mills, 
shops, stores,—men of all classes—and men of all polit¬ 
ical parties, republican, democratic, labor, Temperance— 
all must unite, and stand shoulder to shoulder in this 
common cause, to protect our property and our homes 
from the clutches of the Money Power. 

No effort of any one class, or any one party, will be of 
any avail. The experience of the past proves that. The 
farmers tried it in the Grange movement, and it accom¬ 
plished only partial results: the Labor party has tried it, 
and without success. 

The Money Power knows that these class movements 
must of necessity fail, and it encourages them, on purpose 
to have them fail. 

The American Grange movement originated in 
England. The very name proves it. “ Grange” is not 
an American word : it is in use in England, to designate 
an old farm manor. The Money Kings, when they 
favored the Grange, thinking to divide the American peo¬ 
ple, did not know that the name assumed would be¬ 
tray the English origin of the movement. They wanted 
the American farmers to go into a separate movement, in 
which, like Ishmaelites, their hand would be against 
every man, and every man’s hand against them, in order 
to deprive them of the sympathy of all the other business 
classes; so that when the time came for the Money Power 
to devour them, there would be none to sympathize with 
them, or interfere in their behalf. It was a shrewd move 
on the part of the Money Power, and it had, in some 
measure, its effect.—The Money Power is an Imperialism* 
and, as is the case with all rising empires, its policy is to 
divide and conquer. If it can keep the American people 
divided, it will surely devour us all, and complete the ruin 
of the country. 

The farmers can do nothing alone: the Labor people 



254 


THE REMEDY. 


can do nothing alone: the business men of the towns and 
cities can do nothing alone. But united all together in a 
grand defensive “Union,” they will be irresistible by the 
Money Power. Let such a “Union” be formed, and the 
country will be safe. The Money Power can do what it 
pleases against a divided people: against a united people 
it can do nothing. 

The Money Power is afraid of such a “Union” 
of the American people against it; and with its consum¬ 
mate shrewdness, it has taken measures to prevent, by 
law, any such Union. In the beef Convention which met 
in St. Louis last spring, the emissaries of the Money Power 
who were in large attendance on the Convention, and op¬ 
posed the adoption of some measures that were proposed, 
made no opposition to the law that was proposed against 
Trusts, but were pleased with it. For, that proposed law, 
not only prohibited combinations of Capitalists in Trusts 
to raise prices, but it prohibited all union of individuals 
for the purpose of raising prices. If that law should be 
passed, and the necessary combination of the people be 
prevented, the country will be ruined. 

Trusts,—combinations of Capital,—ought to be prohib¬ 
ited. But it is absolutely necessary that the right of the 
people to unite for self-protection should be distinctly rec¬ 
ognized. It is not necessary, in order to prevent capital¬ 
ists from combining to ruin the country, to prohibit the 
people from uniting in their own defense. It would be a 
foolish law, which, in order to suppress burglary, should 
prohibit honest men from having weapons in their houses. 

The effect of such a law' against Trusts, unless carefully 
guarded, would be evil. It w'ould only prevent the union 
of our people for self-defense. Capitalists would evade it. 

The proposed law’ shows the wish of the Money Power. 
It is like its cunning to avail itself of the inadvertence of 
the people to get a law passed in all the Western States, 



MONEY POWER AFRAID OF SUCH “UNION 11 . 255 

which prohibited the united effort of the people to resist 
its domination. Once placed upon the statute book, the 
Money Power would see that it was enforced, and would 
thus suppress all efforts of the people to unite against it. 
Let the proposed law against Trusts be passed every¬ 
where;—but let it simply prohibit Trusts, or combinations 
of Capital for the purpose of raising prices; and let it dis¬ 
tinctly state that the law does not prohibit a combination 
on the part of the people of the country to regulate prices 
in the interest of the people. 

For a “Union” of the American people is im¬ 
peratively necessary, to enable us to protect ourselves. 
An organized “Union” of the whole American people, 
of all classes, and all parties, is an indispensable condition 
of any successful effort at self-protection. Without it, no 
public legislation, by the state or the Federal government, 
will do any good. Without it, no separate combination 
of farmers, or of labor, or of the merchants of our towns, 
will be of any avail. We want a “Union” of the farm¬ 
ers, of the business men of our towns, of Labor in all its 
departments,—a general 

Uprising of the Whole American People. 

Such an organization alone, without any legislation, will 
be far more effective than all legislation without such organ¬ 
ization. Such an organization is indispensable. We can not 
do without it. It is mere driveling folly to talk about a rem¬ 
edy for the evils of our time without it. I wish to empha¬ 
size this point. For, to seek a remedy in an organization of 
any one class, farmers, or Labor, or merchants, is merely 
a waste of time. Nothing will save us but an organization 
of the whole American people against the Money Power. 

The work we have to do is the work of such an 
Organization. The remedy for the evils of our time will 
be found in certain remedial measures to be carried out 





THE AUTHOR’S POSITION. 257 

nor oust our farmers from their farms, by forcing down the 
price of farming produce so low that the farmers cannot 
support their families and pay their debts.” 

We need no radical measures to restore prosperity, if 
the Money Power will now do right. We only need fair 
prices for farming produce. Let the farmers have fair 
prices, and they will be able to pay wages and interest and 
taxes—and support their families so well that they can 
spend enough in town to give prosperity to the merchants 
and townsfolk, and still have something toward the pay¬ 
ment of the principal of their debt, every year. Four or 
five years of fair prices will enable the farmers to pay off 
their mortgages.—And we have a right to demand fair 
prices for our produce. The Money Power should not be 
suffered to crush our farmers and merchants in the folds 
of its capital, as it has crushed the New York merchants, 
the oil well owners of Pennsylvania, the pork packers of 
Louisville, Cincinnati and St. Louis, and other classes of 
our business men. 

But the Money Power will not consent to any com¬ 
promise. It will never agree to do right. It is bent upon 
crushing down prices and getting possession of all the 
farms, and crushing out all the merchants of our towns. 
Therefore, we must, despite the Money Power, raise the 
prices of farming produce; or we are ruined. This is the 
issue between the American people and the Jew London 
Money Power. And upon this issue, there will arise a 
stern conflict; and, in that conflict, the whole American 
people must be united. Our whole people must enter 
into an organized “Union, ” in a grand general purpose 
to control the Money Power. 

We must “ Bind the Dragon.” The Binding of 
the Dragon will be done effectually, by and by, just before 
the Millennium begins. We must do it now, at least so 
far as is necessary to save our country and the world from 



258 


THE REMEDV. 


its domination, and prevent the destruction of all our 
property and all our rights. 


We now come to the consideration of the practical 
Remedy for present industrial evils. 


Chapter II. 

RIGHT PRINCIPLES OF POLITICAL ECONOMY, 

IN ACCORDANCE WITH WHICH ALL BUSI¬ 
NESS SHOULD BE CONDUCTED. 

All the troubles of our age have arisen out of violations 
of fundamental principles of Political Economy, without 
which there can be no general or enduring prosperity. 
Before we can properly understand the remedy for our 
present evils, we must comprehend the principles of Polit¬ 
ical Economy, whose violation has caused them. 

It is time for us to re-establish the broken down prin¬ 
ciples of Political Economy, whose violation has brought 
our country to the verge of ruin. 

FIRST PRINCIPLE of Political Economy :— 
Every Country, and Every Section of Country 
Should Have Currency Enough to Raise and Ship 
its Own Products, and Ho its Own Business. 

The justice of this principle, in its application to nations, 
is apparent as soon as it is stated. We can see that it 
would be ruinous for France to be dependent upon Eng¬ 
land for currency to raise and market its products. 

But this is our own present condition. We are one of 
the countries of which the Englishman in his pamphlet 
said “ English capital ships the products of all countries, 




first principle: currency enough. 259 

and does almost all the interior production.” He says that 
the wheat of Russia and the cotton of Egypt and the lum¬ 
ber of Norway and Sweden and Poland are carried by 
English capital to the port of shipment. And it may now 
be added that the cotton, the wheat, the hogs, the beef and 
all the other products of the United States are shipped to 
market by English capital. 

It is necessary, not only that each country should have 
money enough to raise and ship its own products, but that 
every section of country should have enough money to 
raise and ship its own products. Our country is more ex¬ 
tensive than half of Europe ; and it would be as reasonable 
for all Central and Western Europe to be dependent upon 
Italy for currency, as for one section of the United States 
to have all the currency, and the other sections to be de¬ 
pendent upon it for money to carry on their business. 

And here is to be found one great trouble in our condi¬ 
tion, at present: our currency is not equally distributed 
throughout the country. The greenbacks and the gold 
and silver are not localized, and have almost all drifted 
into the East, and are owned there. And our National 
banks, are, most of them, owned in the East. Massachu¬ 
setts has more national banking currency than all the 
states North of the latitude of the Ohio river, extending 
from the Alleganies to the Pacific; and more than all the 
states south of the Ohio river, extending from the Atlantic 
to the Pacific. And Massachusetts has not nearly so much 
national banking capital as the Middle States.—Indeed, 
almost all our capital is in the East. The West and South 
have not nearly enough currency to raise and move their 
products. 

This state of things is utterly incompatible with any de¬ 
gree of prosperity to those moneyless sections. We need 
imperatively the equalization of our currency, in its distri¬ 
bution in the different sections of the country. 



i6o 


THE REMEDY. 


SECOND PRINCIPLE: — Every Section of 
Country Should Dave an Equable Currency, Not 
Liable to Sudden Contractions Causing Wide¬ 
spread Panic and Disaster. 

This was the trouble with our old State Bank System. 
The currency was then upon a specie basis; and the 
Money Kings could, at any time, withdraw' enough Specie 
from the country to cause a panic and compel a suspen¬ 
sion of specie payments, followed by a great contraction 
and wide-spread ruin. 

And the Money Power, now, has our currency in a con¬ 
dition in which the Money Kings can bring on a Money 
panic, whenever they wish, as bad as those of 1837 and 
1857 and 1873. Our currency is now in a wretched con¬ 
dition, placing our prosperity completely at the mercy of 
the Money Kings, enabling them to crush it at any time 
they choose.—This question will be treated at large fur¬ 
ther on. 

THIRD PRINCIPLE:— The People of Every 
Section of Country Should Always Do the Rusltiess 
of the Section ; Shipping its Produce, and Buying 
and Selling All Articles Imported for Coiisumjt- 
tion. 

Any section of country that fails to do this, will neces¬ 
sarily fall into poverty, while the people who buy its prod¬ 
ucts and sell to it its imports will be enriched at its ex¬ 
pense. 

This is what is the matter with our country now: the 
London Money Power is buying and shipping all our prod¬ 
ucts, and selling us all our imports. Until this condi¬ 
tion of things is stopped, and our own people in every 
section do all the trading for the section, buying and 
shipping its products, and buying and selling its imports, 
we cannot have any general and enlarged prosperity. 



RAW PRODUCTS, NOT MANUF’RES, TO nE IMPORTED. 261 

FOURTH PRINCIPLE .-—Every Country and 
Every Section of Country Should First Supply its 
Own Wants Out of Its Produce, Only Shipping 
Abroad the Surplus. And it is an Advantage to 
the Country for this Surplus to be Exported, as 
Far as Practicable, in a Manufactured Form. 

The whole system of British commerce is based upon a 
violation of this great cardinal principle of Political Econ¬ 
omy. The Money Kings buy produce from all over the 
world and transport it to England, and import food for 
their operatives, and then send their British manufactures 
all over the earth for a market. And the Money Kings 
have introduced the same system into the domestic con¬ 
sumption of this country. The wheat of the West is 
carried to the East to be manufactured into flour, and the 
flour is brought back to the West for consumption. The 
hogs and beef cattle of the West are taken to Chicago to 
be killed, and the bacon and lard and dressed beef are 
brought back to the West for market. The cotton of the 
South is carried to England for manufacture, and the 
manufactured goods are brought back to the South for sale. 

This system is good for the railroads and shipping of the 
Money Kings, who make the profit on the transportation. 
But it is ruinous to our country; and such a system ought 
to be broken up. 

FIFTH PRINCIPLE:—On the other hand, if 
any community does not produce enough of any 
article for its consumption , it is the interest of the 
community to import the article in a raw state, in 
order to diminish its cost, and secure the profit of 
its manufacture at home. 

It is obedience to this principle that has made England 
so rich, and its violation has impoverished the rest of the 
world. England imports raw products, and sells manu¬ 
factured articles. The United States sells raw products, 



262 


THE REMEDY. 


and buys manufactured articles. England buys cheap raw 
products, and sells high manufactured goods. We sell 
cheap and buy high. England gets rich; we grow poor. 

What is true of nations is true of sections Each sec¬ 
tion should, as far as possible, sell its produce in a manu¬ 
factured form; and each section should, as far as possible, 
buy its imports in a raw state, and manufacture them for 
the supply of its own wants. 

This single principle is so important that it would rev¬ 
olutionize the industrial life of our country and our age. 

SIXTH PRINCIPLE:— The Prices of Every 
Country For Agricultural Products, For Manu¬ 
factured products, And For Labor , Should All be 
Fixed at An Equable Standard, and Properly Ad¬ 
justed To Each Other. 

The evils of our country are largely owing to a violation 
of this principle. We have no equable standard of prices. 
Some industries are flourishing, while others are languish¬ 
ing. Our manufactures flourish; our farmers are on the 
verge of bankruptcy. Some of our wage earners, pro¬ 
tected by Trade Unions, are getting fair wages; while 
others, without any protection, as the coal miners of Illi¬ 
nois and Pennsylvania, are receiving starvation wages.— 
With us, prices are the result of conflict and war, rather 
than the subject of proper and equable adjustment. La¬ 
borers who can combine in Trade Unions, secure fair 
prices for labor as the result of the war of strikes; while 
laborers in industries where such combination is not prac¬ 
ticable are crushed down at the will of the employer. 
Lines of business which can regulate prices by combina¬ 
tion secure fair profits; while other lines of business in 
which such combination is impracticable, are being re¬ 
duced to bankruptcy. 

This state of things should not be suffered to endure 
any longer. The industries owned by the Money Power 



PRICES AT EQUABLE STANDARD. 


263 


can combine and secure protection for themselves; but, 
except certain classes of wage earners who can protect 
themselves by Trade Unions, all classes of American in¬ 
dependent industry are now helpless, and at the mercy of 
the Money Power. We want a grand “Union” of all 
classes of independent American industry, which will se¬ 
cure to all equally fair prices, mutually and equably ad¬ 
justed in relation to each other. This will be a great 
advance upon anything that the world has ever hitherto 
known, and will be a grand stride toward the great com¬ 
ing Age of blessedness to the world. 

Mankind never makes any advance, except under stress 
of imperative necessity. It is thus that a benign Provi¬ 
dence overrules evil for good. In the end, the outrageous 
wrongs of the Money Power will work a great advantage to 
humanity, by compelling the world to organize for self¬ 
protection against it, in a grand “Union,” where each 
will care for the interests of all, and bring into the 
relations of business life the principles of strict justice, and 
the brotherly love embodied in the Golden Rule. 

SEVENTH PRINCIPLE: — The Price of the 
Entire Products of a Country Ought Not to be 
Fixed By the Price of a Small Surplus Exported 
to a Foreign Country; — But, In Every Country, 
The Standard of Prices Should Be Fixed At 
Home, And Adjusted to the General Status of 
Prices Maintained By Tariff and The Amount of 
Currency, Without Regard to the Price of 'The 
Small Amount of Products Exported to the Foreign 
Market. 

The Money Power violates this principle constantly, in 
its dealings with this country. We have no standard of 
prices. The Money Kings are constantly crushing prices 
down. They are at continual war with the farmers, 
crushing down the price of agricultural produce; at con¬ 
stant war with our merchants, putting down the profits of 



264 


THE REMEDY. 


business by rival stores established by them; and at con¬ 
stant war with Labor, crushing down the rate of wages. 

And they put down the price of our entire production, 
to accord with the price of a small export to England. 
For instance, we export one-fourth of our crop of wheat; 
and they put down the price of the other three-fourths, 
which is consumed at home, to the price of the Liverpool 
market.—They ship a few cargoes of wheat from India, 
raised on their own jungle plantations, and store it in 
Liverpool at a nominal price, in order by that means to 
put down the price of the whole crop of American wheat. 

This is an outrage; for India cannot supply the Eng¬ 
lish market with wheat. Its small export should have no 
effect upon the market at all.—Suppose two butchers 
should combine, and buy an ox in the spring of the year, 
and put it in a farmer’s pasture and hold it at two cents 
a pound; and then should want to put down all the beef 
of the county to the same price, by means of the single 
ox. Suppose the butchers should say to the farmers, 
“There is an ox out in Blank’s pasture which is held at 
two cents a pound; and you must sell me your beef cattle 
at the same price 1 ” The farmers would laugh at them, 
and tell them to go and buy the cheap ox and kill it, and 
then come and pay them their price for their beef cattle. 
—And yet these Money Kings, with their few cargoes of 
India wheat, owned by themselves, and held in store for 
the purpose of “ bearing ” the market down, are putting 
down the price of the entire wheat production of the 
United States! We should tell them, as the farmers would 
tell the butchers about the ox, “ Buy the India wheat, and 
grind and sell it, and then pay us a fair price for our 
wheat. ” But instead, we allow them to put down the price 
of our entire crop by this shallow trick 1 

By this outrage, and by fixing prices arbitrarily in Boards 
of Trade, under their absolute control, they annually cheat 



railroads should be owned by people. 265 

our farmers out of hundreds of millions of dollars, and 
thus keep our country in poverty. 

This way of allowing the Money Kings to fix our prices 
at their own will, must be broken up. The prices of our 
country are fixed upon the basis of a high tariff: those 
of England, upon a free trade basis. Our prices are 
fixed upon the basis of a liberal paper currency, and a 
•basis of bimetalism, using both silver and gold : those of 
England are based upon a scarce paper currency, and a 
basis of monometalism, using gold only. Our high tariff, 
and our larger currency place the United States upon a 
basis of liberal prices: the free trade and sparse currency 
of England place her upon a basis of low prices.—How 
oppressive, then, to fix our prices at the English standard. 
We must have our prices equalized, in accordance with 
our basis of tariff and larger currency, and not have them 
regulated by the standard of English prices. We should 
take a firm stand here, and resolve that we will no longer 
submit to this trickery of the Money Kings, but that we 
will regulate the prices of our own country upon an equable 
standard for everything, fairly adjusted in relation to each 
other. 

J EIGHTII PRINCIPLE:—The Railroads Of 
Every Country Should Be Owned By the People 
of The Country. 

The Railroad Question has been a very perplexing prob¬ 
lem. Many persons, in order to solve the difficulty, have 
proposed that the Government should own all the railroads. 
Governmental ownership of railroads may do for a central¬ 
ized monarchy; but it will not answer for a free Republic. 
It centralizes too much power in the hands of the Govern¬ 
ment, and such large ownership of property by the Gov¬ 
ernment is inconsistent with the safety of Republican insti¬ 
tutions.—And besides, it is too much wealth to be taken 
out of the sphere of investment. When, after a while, the 



266 


THE REMEDY. 


world shall be fully developed, the corporate property of 
the earth will amount to many thousand billions of dol¬ 
lars. This vast corporate property will greatly add to the 
wealth of mankind. To lock it up in the hands of Govern¬ 
ment will always keep mankind poor, and make the Gov¬ 
ernment corrupt. 

The railroads of every section of country ought to be in 
the ownership of the people of that section. This is the 
only proper disposition to make of the Railroad Question. 

If the People of one country own all the transportation 
of another country, they are sure to reduce the people of 
that country to utter poverty, and get possession of all 
their property. It is absolutely essential to the prosperity 
of a country that its people shall own its railroads. 

This principle is-violated in the ownership of our rail¬ 
roads by the Money Kings. It will be a most important 
part of the work of the proposed “Union” to rectify this 
matter. 

NINTH PRINCIPLE:-Every Country Should 
Have Half Enough Shipping to I>o Its Import 
An<l Export Trade. 

The necessity for this is apparent, without argument. If 
a nation had shipping enough to carry all its imports and 
exports, it would thereby have such an advantage over the 
people of other countries, as would, in the end, result in 
its engrossing their wealth to itself. But, by every coun¬ 
try having half enough shipping to carry its imports and 
exports, all is equalized, and the wealth of the world re¬ 
mains in equilibrium. 

We feel deeply, as a nation, the loss of our commercial 
marine. It will be a most important work of the proposed 
“Union” to adopt measures that will bring about the re¬ 
building of our commercial navy, until we shall have at 
least half enough shipping to carry on our export and im¬ 
port commerce. 



FALSE INDUSTRIAL SYSTEM. 267 

TENTH PRINCIPLE:—A Foreign Imperial¬ 
ism of Capital Can not be Allowed to Own Vast 
Bodies of Land and City Property, In A Coun¬ 
try, Without Thereby Reducing the People of That 
Country, In The End, To Poverty. 

This principle has been violated in the wide ownership 
of real estate in this country by the Money Kings. They 
have planted parasite investments on every side, which are 
eating into the heart of our national life. The investments 
which they have made are theirs. If ever obtained from 
them, they should be honestly paid for at a fair price. But 
it is necessary to the well-being of our country that those 
investments should be in the ownership of our own people. 
In the end, the proposed “Union” would crown itself 
with honor in bringing about this desirable end. 

The above principles are undoubtedly correct. Their 
truth might easily be demonstrated; but the deplorable 
condition of things in our country which has been caused 
by their violation, is sufficient evidence of their correct¬ 
ness. The violation of them will surely lead to the 
centralization of all industry and wealth in the hands of 
some one nation, and the ruin of all other nations. On 
the other hand, the maintenance of them will secure the 
prosperity of all nations, and prevent the centralization of 
all wealth and industry in one country, or one section of 
a country. 

From the above principles it is evident that all our 
evils arise out of a Grand Industrial System established 
by the Money Kings. The evils do not rise out of 
measures of legislation; and consequently measures of 
legislation will not cure them. They rise out of a False 
Industrial System; and the only remedy is the overthrow 
of the False Industrial System. 

The False Industrial System cannot be overthrown by 



26S 


THE REMEDY. 


legislation. It can only be overthrown by an organized 

Union'’ of the whole American people. 

Certain legislation is necessary, in order to enable the 
proposed “Union” to properly perform its work. But 
it is only such an “Union” that can make the legisla¬ 
tion effective. 

I shall treat the subject in the following chapters under 
the following divisions:— 

1 st. Measures of legislation Necessary to be adopted 
in order to enable the -proposed “Union” to remedy 
the Industrial evils of our times; 

2nd. Proper Method of organizing the “Union;” 

3rd. Work of the organized “ Union.” 

The Remedy for the evils of our time is to be found in 
no one of the above, but in them all,—in the “Union” 
and its work; and in the measures necessary to enable the 
“ Union ” to do its work. 

Wc must put these principles into operation. Some of 
them may be furthered by legislation; but most of them 
must be carried into effect by the organized “Union” of 
the people. And the only use of legislation is to enable 
the “Union” to act with effect. 


Chapter III. 

MEASURES OF LEGISLATION NECESSARY, TO 
ENABLE THE PROPOSED “UNION” TO 
REMEDY THE INDUSTRIAL EVILS 
OF OUR TIME. 

As has been said, the special evils to be remedied are 
the low price of farming products, and the breaking down 
of the Tradesmen of our towns by the establishments of 
stores run by agents of the Money Power. It will be 
readily seen that these objects can not be accomplished by 



MEASURES OF LEGISLATION NEEDED. 269 

any public legislation alone, but can only be effected by 
an organized “Union” of all industrial classes. 

But, in order that the “Union” may do its work 
properly, certain acts of legislation arc necessary to enable 
it to act efficiently; and other legislation, also, is needed, 
that will so control the Money Power, as to prevent it 
from crushing the people with its capital, while they are 
putting things to rights. 

I. FIRST MEASURE: — Trusts Must Be Sup¬ 
pressed. 

But the legislature, as has already been stated, should be 
very careful, in framing the act, to avoid putting any hin¬ 
drance in the way of the organization of the people for self¬ 
protection.—This measure can be best effected by State 
legislation. 

II. SECOND MEASURE:— Dealing in Futures 
in Agricultural Products Should be Prohibited. 

•7 

Where agricultural products are purchased, there should 
be in all cases actual delivery. This, to prevent the arti¬ 
ficial fixing of prices by the Money Kings, by fictitious 
transactions in Boards of Trade.—This measure, also, can 
be accomplished by State Legislation. 

III. THIRD MEASURE:— All Joint Stock Cor¬ 
porations Should be Required to Enter The List 
of Their Stockholders Upon Public Record. 

The public, ought to know who are the stockholders of 
these grand corporations which are owning so much 
property in this country. The Money Kings should not 
be suffered to hide their personality, any longer, behind 
joint stock corporations. 

And there should be the strictest precautions against 
fraudulent entries. Any fraudulent entry of false stock¬ 
holders should be penal, and should forfeit the stock. 
And, to prevent agents from holding the stock in Trust, 



270 


THE REMEDY. 


and entering it in their own name as their own property, 
it should be the actual property of the person so entering 
it, as against any other claimant; and, if the entry were 
afterward found to be fraudulent, the stock should be for¬ 
feited by the original owner.—This legislation, also, can be 
established by State Legislation. 

IV. FOURTH MEASURE: — In All Cases of 
Strikes of Employees of Large Corporations, 
There Should be a Board of Arbitration to Ar¬ 
range the Difficulty on a Just Scale of Wages. 

The justice of this is apparent without discussion. 
Strikes are only a species of Industrial warfare. In the 
Dark Ages, when courts of judicature did not settle busi¬ 
ness disputes between individuals, such disputes were 
brought to the arbitrament of “ Private War.” With the 
advance of civilization, “ Private War ” has been banished 
from society, except that a temnant of it continues, in the 
industrial world, to distract business by great strikes. 
Public adjudication should adjust these disputes in respect 
of vvages, without leaving them to the arbitrament of 
“Private War.” For there is no greater justice in the 
arbitrament of “ Private War” in strikes, than when differ¬ 
ences were settled by jousts in the lists. It is only a ques¬ 
tion whether the poor can endure frightful suffering long 
enough to exhaust the purse of the Money Kings. It is a 
question of money against life. The Money Kings should 
not be suffered, by the might of capital, to crush down 
labor into starving wages; but the aegis of public protec¬ 
tion should be extended over the working people, to pro¬ 
tect them from the oppression of the Money Kings. 

If the proposed “ Union ” is to succeed, it can only 
do so by the hearty co-operation of all industrial classes in 
the “Union.” If the working people, who are the great 
mass of consumers, come into the “ Union” to help raise 



A NEW CURRENCY SYSTEM NEEDED. 27 I 

prices, and save the farmers and the merchants of our 
towns, then those classes, in turn, must be willing to accord 
their hearty protection to the Working People against the 
wrongs and the oppression of the Money Power.—This, 
also, can be accomplished by State Legislation. 

V. FIFTH MEASURE: — The Half Bushel 
Should be Made the Legal Measure for all Grain. 

This will prevent the cheating of the farmers, by making 
No. 1 wheat rate as No. 2, and No. 2 rate as No. 3. And 
it will also secure to the farmers fair weights and measures 
for their grain.—This measure also may be accomplished 
by State Legislation. 


But there are measures of very great importance, for 
which Congressional legislation will be necessary : 

VI. SIXTH MEASURE:— All Railroads owned 
by foreign Stockholders, or Bonded to Foreign 
Bondholders, Should be Operated by a Com¬ 
mission Appointed for the Purpose. 

This is essential, in connection with the operations of 
the proposed “Union,” in order to prevent the Money 
Kings from thwarting all efforts of the people for self help, 
by their manner of operating the roads. The railroads are 
their property, and they should have all the income de¬ 
rived from them. But they should not be suffered to 
operate them, while the proposed “Union” is carrying 
out its work, because they would use their power to thwart 
all efforts to control them. This is an essential measure of 
self-protection; and if it cannot be carried out by a con¬ 
certed State legislation, it should be enacted by Congress. 

VII. SEVENTH MEASURE:— We Need a New 
Currency System; Which Will Equalize Our Cur¬ 
rency, and Secure it From Being Contracted In 



272 


THE REMEDY. 


Periods of Financial Crisis Brought about By the 
Money Kings. 

This is the most important measure of all. 

1st. Present Dangerous Condition of Our 
Currency, 

1. The present state of our currency illustrates 
the evils of our present currency system. It is almost 
wholly in the hands of the Money Kings; so that, though 
we have $1,700,000,000 of money in the country, there 
are only about $400,000,000 in circulation. 

This may be denied ; but it is assuredly true. In i860, 
we had only $207,000,000 of currency. That amount 
was sufficient to do the business of the country at the 
scale of prices then prevailing. Our prices are lower now, 
than they were in i860; so that we only need an amount 
of currency to do the business' of the country now, at pres¬ 
ent prices, greater than that of i860 by the amount of 
increase of population and business. And if $207,000,000 
was sufficient to carry on the trade of the country in i860, 
$400,000,000 is sufficient to carry on the business of the 
country now, at our present scale of prices. It is certain 
that we have now not more than $400,000,000 in circu¬ 
lation in the channels of business. 

This fact shows the nature of our need. We need a 
proper amount of money; and we need it all in active circu¬ 
lation, in the channels of business. 

2. Furthermore, our currency is, at present, in 
a most precarious condition. We have now in the 
country, it is stated, about $1,700,000,000 of money. Of 
this, about $239,000,000 are national bank notes; and a 
little over $346,000,000 are greenbacks. The remainder 
of the money consists of gold and silver; much of it held 
in reserve, and as a basis for the National Bank circula- 



PRESENT DANGEROUS CONDITION OF CURRENCY. 273 

tion; but a part of it in circulation as coin, and a part, 
represented by gold and silver certificates. 

The gold and silver that are in circulation are perfectly 
good, while they remain in circulation. But' they are li¬ 
able to be withdrawn from the country at any time by the 
Money Power. They have an intrinsic value, and can be 
used by the Money Power in its traffic, in any other 
quarter of the globe. 

3. Let us notice the effect upon us of the Money 
Power withdrawing the $t, 100,000,000 of gold and silver 
from the country, and keeping the greenbacks retired from 
circulation. 

1. ) By presenting the gold and silver certificates at the 
Treasury, and drawing the gold and silver they call for, 
the gold and silver certificates would be withdrawn from 
circulation. 

2. ) Then, by withdrawing the rest of the gold and silver, 
we would be left with nothing but the greenbacks and the 
National Bank circulation. 

3. ) But the $346,000,000 of greenbacks have already 
been, in great measure, retired from circulation. They 
are all owned in the great money centers, chiefly by the 
Money Kings, or their agents. When the Money Kings 
shall be desirous of bringing on a crisis, they will, of 
course, keep the greenbacks retired. 

4. ) This would leave us only the National Banking cir¬ 
culation of $239,000,000. By presenting the National 
Bank circulation at the counters of the banks, and draw¬ 
ing out the gold in their vaults, the Money Kings could 
compel the National Banks to suspend specie payments, 
and contract their circulation at least one-half. Then we 
would be left with only about $120,000,000 of National 
Bank notes in circulation. 

But the greater part of the national banks are owned 
by the Money Kings, who could withdraw their circula- 



274 


THE REMEDY. 


tion, if they chose to do so.—It is evident that the Money 
Kings can, in three months, if they wish, reduce our cur¬ 
rency in circulation to less than $100,000,000. 

They have got the greenbacks locked up now: and a 
banker has recently proposed to retire all the greenbacks, 
and substitute for them silver coin. If this were done, 
the Money Kings could ship our silver and gold to India, 
and Africa, and China, and Japan, and South America, 
to stimulate the industry of those regions, and would leave 
us almost entirely without currency. 

They can easily do this. They only need the excuse 
of a panic to justify them in doing it. And they could 
start the panic at any moment by breaking a few National 
Banks; which can easily be done by drawing out their 
specie and forcing them to suspend specie payments. In 
1837, the Money Kings brought on the panic, by continu¬ 
ing to draw gold from the banks of New York City until 
they were compelled to suspend specie payments. They 
brought on the crisis of 1857, by drawing several million 
dollars of gold from the vaults of the Trust Company 
Bank in Ohio. That bank was evidently on a sound ba¬ 
sis. It was able to bear extraordinary drafts upon it. But 
they started the run, and they continued to draw until the 
bank failed. So now, they can break any or all of our 
National Banks in a week, and force them to suspend 
specie payments, or go into bankruptcy. 

Our currency is now a trap , with the triggers all set, 
ready to fall whenever the Money Kings choose to touch 
it off. The condition of the currency needs to be reme¬ 
died, or we shall have, some day, the most terrible crisis 
that ever ruined a country. It will not do to have our 
currency so completely at the mercy of the Money Kings. 

This is the state of things we need to remedy. 



CURRENCY SYSTEM ACCOMMODATED. 


275 


2nd. The Currency System to be Adopted must be 
Accommodated to Existing Conditions. 

We can not establish a perfect currency system. Any 
currency system we may adopt must be adjusted to exist¬ 
ing circumstances. 

1. All the Specie that is in circulation must be 
held at par. 

But we can not consider specie as fixed currency; since 
the Money Kings can withdraw it from the country when¬ 
ever they choose. We must expect the Money Kings to 
withdraw it, and base our currency system on that expec¬ 
tation. We must, therefore, recognize it at par value, 
when in circulation; but we must have currency enough 
to do without it, when it is withdrawn from the country, 
as it assuredly will be when we put the proposed measures 
into operation. 

We should, therefore, coin silver to the maximum amount 
authorized by law, and recognize its par value when in cir¬ 
culation, but provide an amount of currency sufficient for 
our needs, if the Money Kings ship all the specie out of 
the country. 

2 . The National and Individual Banks will need 
to remain as they are; except that they should be relieved 
from the obligation to maintain specie payments, and should 
be placed and kept under such supervision as would secure 
their safe and proper management, and the safety of their 
circulation.—The reason for relieving the banks from the 
obligation to maintain specie payments will be given fur¬ 
ther on. 

3. The greenbacks, which are all in the hands of the 
Money Kings and are retired, in great measure, from cir¬ 
culation, should be withdrawn by the government, for rea¬ 
sons soon to be given, and should be replaced by the cur¬ 
rency system herein presented. 



276 


THE REMEDY. 


4. We will only count $260,000,000 of specie, because 
it is liable to be taken out of the country at any time by 
the Money Kings. This, with the $239,000,000 of national 
banking currency, will give us $500,000,000 of currency. 
And we should make up the deficit of currency by the 
issues of the proposed currency system. 

The next question to be considered is 

3 rd. The Amount of Currency Necessary. 

I am not an advocate of unlimited inflation. But we 
need enough money to do the business of the country with 
a fair scale of prices. We had good prices in 1869 and 
1870, and all our currency was then in circulation. So 
that it required all the money we had in 1870 to do the 
business of the country at the scale of prices then prevail¬ 
ing. I think wheat should be about $1.25 per bushel; 
beef cattle should be about 4 to 8 cents, according to qual¬ 
ity; and hogs should average about 5 cents. Cotton also 
should bear a fair price,—10 to 12 cents. 

If we needed $900,000,000, in 1870, to sustain fair 
prices, we should now need, in the same ratio of currency 
to population, about $1,450,000,000.* 

Of this amount, the National Bank notes constitute 
$239,000,000. And we might estimate the specie cir¬ 
culation at $260,000,000. This would leave about $950,- 
000,000 of the new issue of currency under the proposed 
currency system. 

The next question to be determined is 

4 th. The Basis of the Distribution. . 

I think the Currency Should be Distributed in 
proportion to the population. It may be thought by some 

®This cannot be called inflation. For we have now in the 
country $1,700,000,000. But it is almost all locked up. We do 
not need an excessive amount of money. But we want enough 
to sustain fair prices; and to have it all in active circulation. 




BASIS OF CUBkENCY DISTkIBUTION. 


277 


that the amount of trade should also be considered. But 
the object to be kept in view is, to equalize industry and 
prosperity as far as possible. If the poorer parts of the 
country are deprived of currency on account of their 
poverty, the poverty will be perpetuated. The only way 
to promote the prosperity of the poorer sections of the 
country is, to give them the currency needed, and then 
their business will grow up to it. 

If we issue more money to the present trade centers, in 
proportion to their population, than to the less developed 
portions of the country, it will increase the preponderance 
of wealth in the trade centers, and keep the new sections 
of the country depleted of currency, and poor. Let the 
currency be issued to each portion of country in propor¬ 
tion to its population, and the money, will be invested in 
productive industry, and thus the poorer sections will 
grow up in wealth, and prosperity will be equalized. 

There is a natural tendency for currency to leave the 
remote portions of the country, and drift to the great 
trade centers. This tendency, together with their natural 
proportion on the basis of population, will give to the 
trade centers currency enough for all business purposes. 
If it were afterward found necessary to give to the trade 
centers an additional amount of currency, it could be 
done. 

In the construction of the currency system, one of the 
main points to be provided for is, to prevent the currency 
from drifting to the great trade centers and settling there, 
until the rest of the country would not have money enough 
to carry on its business. The currency ought not only 
to be distributed, but the system should be so constructed 
as to keep it distributed, and equalized in proportion to 
population. 

The next question to be considered is, 



278 


THE REMEDY. 


5 th. The Basis oy the Currency. 

This is a most important question. There are several 
points to be held in view, in order to avoid evils of which 
we are warned by past experience. 

1. The Currency Should Not be On a Greenback Basis. 

1) A grave objection to a greenback currency is, that 
it is not based upon anything in the way of value re¬ 
ceived. If the Government should introduce the green¬ 
back currency by paying out the greenbacks for work or 
property, the greenbacks, in such case, would not be 
equally distributed. On the other hand, if the Govern¬ 
ment did not pay out the greenbacks for work or property, 
then, in order to get the greenback currency into circula¬ 
tion, the Government would have to make the different 
parts of the country a present of so much money.—It is 
a grave objection to the greenback currency that there is 
no proper method of getting it into circulation. 

2) It is a decisive objection to a greenback currency 
that is not located anywhere, and would, at once, be 
drawn to the great centers of trade, and would be owned 
there. It would pass into the hands of the Money Kings 
as soon as it went into circulation. We want a currency 
that will be equally distributed throughout the country, 
and that will stay distributed, in proportion to population, 

2. Hence, the Currency must be based upon a Banking 
System. 

A Banking System is necessary in order to properly dis¬ 
tribute the currency, in the first instance; and it is also 
necessary in order to keep it distributed and equalized. A 
bank only lends money on a secured note, binding the 
borrower to pay it back Over the counter at a certain time. 



OBJECTIONABLE BASES FOR CURRENCY. 2 79 

Money placed in a bank is localized, and remains in the 
community where the bank is placed. It may go abroad 
into the channels of business, but the channels of business 
will bring it back again to the bank from which it started. 

3. The Currency must not be a Banking System Based upon 
National Bonds, as at present. 

1) One objection to such a system is that it will require 
a national debt to be maintained, in order to be a basis 
for the currency. 

2) But the greatest objection to a currency based upon 
national bonds is, that such a system places all the cur¬ 
rency of the country in the hands of capitalists, who are 
able to own national bonds. This makes a favored class; 
and it gives them so great an advantage as to make them a 
wealthy caste , perpetuating the wealth of the country in 
their hands. 

The very thing we wish to get rid of is having our 
currency in the hands of an Imperialism of Capital, which 
uses it to take possession of all the business of the country. 
We can never break up this domination over all business 
by the Money Power, while we have a system of currency 
which makes all our money the property of those capital¬ 
ists and their agents. There is no use of issuing more 
money, if we base it on government bonds, and thereby 
place it in the hands of the Money Kings who own the 
bonds. We want our currency to be owned by our people. 
And we must adopt a currency system that puts and keeps 
our currency in the hands of the great mass of our people. 

3) Moreover, this system of currency, based upon 
national bonds, is incompatible with the equal distribution 
of the currency. The capitalists who own the bonds, will 
start a bank where they please, or they will not start it at 
all. This will continue to keep the newer stales of the 
West and South in want of currency, perpetually, and will 



s8o 


THE REMEDY. 


keep them too poor to raise and market their own prod- 
ucts, and will keep those sections dependent upon the 
Money Kings for capital, which is the very thing we wish 
to avoid,—the evil that needs to be cured. 

4. The Currency Should Not Be on a Specie Basis. 

A specie basis for currency is liable to several objec¬ 
tions :— 

1) In the great expansion of industry in modern times, 
there is not nearly enough gold and silver in the world, to 
afford a basis for an amount of currency adequate to the 
needs of business. And as business shall continue to grow 
with the development of industry, the difficulty will in¬ 
crease until, before many years shall have passed, there 
will not be gold and silver enough in the world to consti¬ 
tute one ; dollar in twenty of the currency that will be neces¬ 
sary to transact the business of the world. Then no one 
will think of making currency rest upon a specie basis. 

The requirement of a specie basis would now limit our 
currency to an amount far short of the needs of our busi¬ 
ness. Just now, the Money Kings are buying up our 
property; and they have allowed us to keep our silver, 
and have flooded the country with gold. This is done, 
probably, in order, to lull us into security, and afford an 
argument against any change ; and also, no doubt, to have 
us in a condition in which they can utterly prostrate us, at 
any time, by withdrawing all the gold and silver from the 
country. They are now draining the rest of the world, to 
flood the United States with specie. They are only doing 
it temporarily, while they are buying up our property. 
When the property is bought up, they will certainly with¬ 
draw the specie; and then, if we are on a specie basis, we 
shall not have nearly currency enough to do the business 
of the country. 

2) In the early ages of the world, when there was no 



NOT ON A SPECIE BASIS. 


281 


public credit, it was necessary to use a metallic curren¬ 
cy as the standard of value. But the lime has passed 
away when a metallic currency is possible; or a specie 
basis in any country with which the Money Kings 
are trading. A paper currency on a specie basis was a 
mere expedient, when there was not specie enough to 
afford an exclusively specie currency; and the continual 
crises which it has caused, show what a poor makeshift it 
was. And now that the Money Power has risen, which 
has a special interest in bringing about financial crises, by 
breaking down banks which are on a specie basis of three 
for one, it is perfectly suicidal for any country to have its 
currency upon a specie basis. 

3) Even if we could obtain specie enough to be the 
basis of an adequate amount of currency at the ratio of 
three for one, yet it is an insuperable objection to a specie 
basis, in our time, that the Money Kings could break any 
bank that had a circulation three times the amount of the 
specie in its vaults. A bank might be perfectly sound, 
and yet the Money Kings could continue to draw upon its 
specie, until it would be compelled to stop specie pay¬ 
ments. They did so with the Trust Ban'k of Ohio, in 
1857, which was a perfectly sound institution. It is easy 
to start a “ run” on a bank. And they could do this to 
one bank after another, until a general panic was started. 
And they would do it. When they were determined to 
start a panic, they would continue to break banks until 
their object was accomplished.—A specie basis is no longer 
suited to the condition of our age. It puts the currency 
of every country completely at the mercy of the Money 
Power. 

We have now seen, 1) That our currency should not be 
a greenback currency; because greenbacks can not be 
equally distributed, nor can they be caused to remain 
equalized; 2) That the currency should be located ill 



282 


THE REMEDY. 


banks, as the only method of equally distributing it, and 
of keeping it distributed; we have seen, 3) That the cur¬ 
rency must not be based, like our present national bank¬ 
ing system, upon national bonds; becanse it puts all the 
currency into the hands of capitalists who are able to own 
the bonds; and because it prevents the equal distribution 
of the currency; and we have seen 4) That the currency 
should not be upon a specie basis; because the Money 
Kings would withdraw the specie from the country, and 
cause such a panic as swept the country in 1837 and 1857. 

Our present currency system is a conglomerate, com¬ 
posed of portions of all these objectionable systems. It is 
part specie, part gold and silver certificates, part green¬ 
backs, and part national bank notes, based both on gov¬ 
ernment bonds and on a specie basis. - 

5. Thf. Currency System must be a System of County 
National Banks. 

1) For the only way to distribute and equalize the cur¬ 
rency in such a manner as to keep it distributed and equal¬ 
ized, is to put it in banks. Money paid into a bank is 
located. The bank never lends it to any one except upon 
a secured note, binding the borrower to pay it back over 
the counter at a certain time. 

2) But it will not do for the Government to issue the 
currency to individuals ; for it would make of them a fa¬ 
vored class, which would soon become the Money Kings 
of the country. 

3) There is but one way in which the banks can be organ¬ 
ized. The currency must not be based on specie, like the 
old state banks: it must not be based on Government 
credit, like the greenbacks: it must not be based on national 
bonds, like the present national bank notes. The cur¬ 
rency we need must be based on the credit of the American 



COUNTY NATIONAL BANKS. 283 

people, not the Government , and be based on the bonds of the 
Anerican people, not the bonds of the Government. 

The United States Government should issue 
the national bank notes to the Counties of every 
state and territory, upon the county bonds, issued dollar 
for dollar, and deposited with the Government. These 
county bonds should bear one per cent, interest, which 
would be sufficient to meet the expense of issuing the cur¬ 
rency, and reissuing it as occasion required, and main¬ 
taining a proper supervision of it. 

4) The currency should be issued to each county in 
proportion to its population. And it should be provided 
by law that the currency should be loaned at a specified 
rate of interest. There is no objection to interest, pro¬ 
vided it is equal everywhere. And it would seem that 
money, which is the representative of the value of prop¬ 
erty, must itself have a value, represented by the rate of 
interest which it bears. 

Besides, it is necessary for the currency to bear interest 
when loaned, in order not to interfere with the existing 
national banks and individual banks. But by means of 
these new national banks the rate of interest would be 
equalized throughout the country. 

There is an advantage in issuing the currency to the 
counties, inasmuch as the county authorities would have 
no interest in evading the law respecting the rate of 
interest to be charged upon loans. And, as the prosperity 
of the county would be deeply involved in the successful 
management of the banks, their management would be 
carefully guarded. It would also be an advantage for 
the counties to realize the profits upon the loans of the 
banks, as it would save the people of the counties taxation 
to that extent, and would enable the counties to establish 
many educational and other advantages which they could 
not otherwise support. 



284 


THE REMEDY. 


5) In issuing this new currency, the present national 
banks and all individual banks would stand just as they 
are. The circulation of the national banks would count 
as a part of the $1,450,000,000 of needed currency, and 
would be credited to the place where they are established. 
Those places, consequently, would get none of the new 
issue until the rest of the country was brought up to an 
equality with them. Hence, the East would get less of 
the new issue than the other portions of the country. 

6) The new Bank Issues Should be Legal Tender 

for all taxes, and customs, and debts. It may be objected 
that, in this case, the Government would not be able to 
pay the gold interest on its bonds. I admit that this is a 
point of financial difficulty; but it is not a difficulty of very 
great importance. The country is now ruined, as things 
stand at present. If things go on as they are, the American 
people will lose at least $20,000,000,000 worth of property 
within the next ten years. The System I propose will 
save all that to them, and a great deal more. And if it 
costs the Government $100,000,000 a year, for five years, 
to buy gold with which to pay interest on the bonds, it 
will be a cheap price to pay for the immense advantages 
obtained through the system here proposed. 

6 th. The Financial System Must be Made Flexible. 

1 . The Money Power Would Lock up the Cur¬ 
rency, if we have a fixed amount, and thus maintain a 
scarcity of money. To lock up $1,000,000,000 will be a 
small matter to them. It would only cost them $40,000,- 
000 a year, at four per cent, interest on the amount. 
When, by keeping our currency scarce and prices low, 
they can make an annual profit of $1,000,000,000 in the 
purchase of our products, they can well afford to lock up 



CENTRAL BUREAU OK CURRENCY. 285 

our currency, in order to cause a scarce currency and low 
prices. It would be a paying speculation. 

All the currency in the country passes through their 
hands once in every three or four months. They receive 
our currency from every man who buys coal from them, 
or lumber, or dry goods, or groceries; and from every 
man who pays them for railroad tickets, or telegraph 
messages, or freights, or electric lights, or any of the 
numerous necessary things which they own and furnish to 
us. If they choose to keep the money they receive, 
and not pay it out again, they would, in a few months, 
have all the currency of the country in their possession, 
and business would be at a standstill for want of money 
to carry it on.—To prevent such a state of things, 

2 . It will be Necessary to have a Central Bureau of 
Currency, 

to which all the banks in the country should make weekly, 
or semi-weekly returns of the amount of currency on hand. 
Whenever the returns showed that there was less than 
$1,450,000,000 in circulation, the banks in counties show¬ 
ing a deficit should have more currency issued to them in 
exchange for county bonds. And these bonds should be 
redeemed, as soon as the returns showed an excess of cur¬ 
rency in circulation, by the return of the currency so is¬ 
sued to them to the Government, and the redemption of 
the bonds. 

Such a currency system as the above would secure to us 
an abundant supply of currency, uniform in quantity, and 
equally distributed throughout the country. 

VIII. EIGHTH MEASURE 'The Tariff. 

This is a delicate question in the present attitude of par¬ 
ties. But, fortunately, my views do not either fully agree, or 
absolutely conflict with the views of either of the two great 
political parties which now divide the country. My views 



286 


THE REMEDY. 


are a middle ground, on which both Republicans and Dem¬ 
ocrats can unite. For the Republicans and Democrats are 
both right, and both wrong, on the Tariff Question. Each 
has partial truth on its side. 

1 st. The Proper Scale of Tariff Duties 

depends upon the general scale of prices prevailing in the 
country. 

i. If we are to have a low scale of prices, as at 
present, then manufactures must, in common justice, be 
low also, and we want a low scale of tariff duties. But if 
we are to have a general scale of fair prices, then we want 
a general scale of tariff duties to correspond. 

When the farmers are being destroyed by ruinously low 
prices, and when the merchants are only able to continue 
business by the most pinching economy, it is unjust to keep 
up a high scale of prices on manufactures by a high scale 
of tariff duties. On the other hand, if we are to have fair 
prices for farming produce, and if all prices and earnings 
are to be at a fair rate, then it is fair and right to protect 
our manufactures from the competition of foreign goods, 
manufactured abroad under a scale of low prices. 

Our factories, manufacturing under a low scale of prices, 
can compete with foreign manufactures manufactured at a 
low scale of prices; but if we have a liberal scale of prices, 
then our factories, manufacturing under a high scale of 
prices, can not compete, without protection, with foreign 
manufactures manufactured under a low scale of prices. 
In such circumstances, they will need protection; not oth¬ 
erwise. 

2 . The Question is, Is it Better kor Us to Scale Up, 
or to Scale Down? 

Had we better reduce the tariff, and bring all prices 
down to the ruinous rate of farming produce? or, on the 



RISE OK PRICES NECESSARY. 


287 


other hand, is it better to raise farming produce, and all 
our prices, up to the generous scale of the tariff? This is 
the question for the American people to consider, at the 
present juncture. 

One thing is certain: everything ought to go 
up, or go down together. If the tariff is to stay up 
at a high rate of duties, then all prices must go up to the 
same level. If all prices are to stay down, then the tariff 
must, in common justice, come down also. The question 
is, Shall prices go up? or go down? Shall the tariff come 
down to the level of the prices of farming produce ? or 
shall the prices of farming produce, and other prices, go 
up to the level of the tariff? 

If we have a low tariff, and bring all prices down to the 
level of farming produce, in that case, a farmer may save 
about $30 a year in store bills. But will that enable him 
to pay for his farm machinery, and pay off his mortgage 
and save his farm ? It will not. A reduction of the tariff 
is no remedy for the present evils that afflict the country. 
The tariff may be reduced, and the farmer may save his 
$30 a year in store billsj and still, at the present low scale 
of prices, he will fail to pay his mortgage, and will lose his 
farm. 

3. Nothing Will Save the Farmers But a Rise of 
Prices. 

If the farmers have fair prices, they can afford to pay 
present prices for the goods they buy, and can still pay off 
their mortgages and save their farms. Any one can see 
that our true policy, at present, is, instead of reducing the 
tariff to the low scale of the prices of farming produce, to 
let the tariff stand, and raise the prices of farming produce 
to the level of tariff prices. 



m 


288 THE REMEDY. 

4. The Key to the Present Situation 

is the condition of the farming population. If the farmers 
can not pay off their mortgages and save their farms, the 
country is lost; and the Money Power will get everything, 
and have everything its own way. We must save the 
farms to the farmers from the clutch of the Money Power. 
If wc can do this with a low tariff, and a scale of low 
prices, I am in favor of a low tariff and a scale of low 
prices. But if the farmers can not pay off their mortgages 
and save their farms under a scale of low prices, then let 
us have fair prices for farming produce, and let the tariff 
stand. 

We cannot separate the two things: A low 
tariff and low prices for farming produce go together ; and, 
on the other hand, a high tariff and fair prices for farming 
produce go together. If we have a high tariff, we must 
have an equal rate of prices for farming produce: if we 
have low prices for farming produce, we must have a low 
tariff also. 

5. The Proposed Measures, Compromise Measures. 

It is well, perhaps, that the principal measures to be 
adopted in our proposed system are compromise measures, 
in which each party will have to yield some of its own 
views, and accept some of the views of the others. If the 
Democrat has to give up his ideas of low tariff, he obtains 
the concession of his idea that prices must be equalized. 
If the Republican has his idea of a high tariff conceded, 
he must, on the other hand, concede the equalization of 
all the prices in the country, and accept the measures 
necessary to give fair prices for farming produce and es¬ 
tablish a fair scale of prices in all departments of business. 
If the Greenbackcr has to give up the greenbacks and ex¬ 
cessive inflation, he ought to be content with an equalized 



NEW INDUSTRIES TO BE STARTED, 289 

currency, adequate to give us fair prices, and secure the 
prosperity of the country. 

1) If we are all to unite on a common platform, wc must 
have a compromise basis on which to unite. No party can 
expect all others to come to it. There must be a compro¬ 
mise ground on which all can unite. 

And, fortunately, truth lies in the middle. All extremes 
have only part of the truth. The real truth blends into 
itself the partial truths held by both extremes, and forms 
out of them a blended harmonious whole. 

2) The proposed “ Union” will need to start 
and foster many new industries, which will need 
the tariff to protect them against the importations of the 
Money Kings. It is not a question of protecting the 
manufactures already started, so much as of protecting new 
enterprises, to be started by the American people all over 
the country. The establishment of such new enterprises 
will be essential to start the country upon a career of grand 
prosperity. 

6. The protection of the tariff should be made more 
perfect than at present, by making the duties payable when ■ 
the goods enter the warehouse. This will prevent the 
Money Kings from storing goods in New York City, not 
for sale, but for the purpose of “bearing” down our 
markets. 

7. And it will be necessary to cover with tariff protection 
all agricultural products; in order to prevent the Money 
Kings from interfering with the system of prices we shall 
establish, by throwing the products of India and Australia 
upon our markets. We propose to establish fair prices for 
the benefit of our own producers, not for the benefit of 
Australians, or the India plantations of the Money Kings. 
And, in order to keep the benefit of our scale of prices 
to ourselves, it will be necessary to shut out the products 
of foreign industry by tariff protection. 



THE REMEDY. 


290 


2nd. To Bring About Commercial Treaties 

should be one great aim of a tariff policy. By this means 
our foreign commerce might be greatly extended. 

But the subject is too extensive to be further discussed 
here. 


The above are the measures which are necessary to rem¬ 
edy the evils that are afflicting our country. They are so 
reasonable, and their necessity is so apparent, that it is 
hoped they will be readily accepted by the great body of 
the American people. 


Imperative Necessity of an Organized Union. 

But if it be asked, Will this legislation stop the encroach¬ 
ments of the Money Power ? the answer must be in the 
negative. 

The Money Power can not be controlled by 
legislation alone. But this legislation will enable the 
American people to control the Money Power, by having 
a proper Organization. The Money Power can be con¬ 
trolled, only by a grand organized “ Union ” of the great 
body of the American people. Such a “Union” is 
mightier than the Money Power: nothing else is. 

With the legislation above mentioned, our people, by a 
proper Organization, can carry on the industry of the 
country in accordance with correct principles of Political 
Economy, and can soon restore the country to such a con¬ 
dition of prosperity as will enable the farmers to pay their 
debts, and our entire people to grow rich. 

No legislation will be needed other than that already 
mentioned. Most of the legislation needed is state legisla¬ 
tion; and it can be enacted as soon as the will of the 
people is made known. The Congressional legislation 
may be slower. 



A PATRIOTIC UPRISING NEEDED. 291 

But a good currency system is the only point of national 
legislation that is of essential importance, and it is not 
necessary to wait for that. The people can organize the 
“Union,” and with the necessary state legislation, the 
“ Union” can put things in good condition with our pres¬ 
ent currency system, unless the Money Kings cut us short 
by keeping the money of the country locked up. We 
Have money enough in the country—$i,700,000,000—to 
give us good times. If the Money Kings prevent us from 
making good times, the eyes of the American people will 
be upon them, and Congress will obey the wish of a United 
People, and pass such proper legislation as will soon enable 
us to put things to rights. 

The organization of the American people for self-pro¬ 
tection is more important than any Congressional legis¬ 
lation. With such an “Union,” we can do without na¬ 
tional legislation until the public sentiment of the people 
shall induce Congress to pass needed laws. 


Chapter IV. 

PROPER METHOD OF ORGANIZING THE 
PROPOSED “UNION.” 

I. STYLE OF ORGANIZATION. 

The proposed movement should be A PATRIOTIC 
UPRISING of the whole American people, to save our 
country, our property, and our homes from the Money 
Power. As has been said, the organized “ Union "should 
include people of all political parties, and all industrial 
classes. It should include all except the Money Kings, 
and their agents engaged in managing their business. The 
Labor employees of the Money Kings need protection 



292 


THE REMEDY. 


against them as much as any other class of our people, 
and should be included in the “ Union.” 

1st. The Name of the “Union.” 

The proposed “ Union” will be a patriotic movement, 
having for its motto, America for Americans. 

It will be a patriotic uprising of the people, to 
protect every thing that is most dear to us from foreign 
domination. Its aims will be wholly patriotic. It will be 
an uprising against the establishment of a grand Imperial¬ 
ism over us—an uprising, to throw off the yoke of the 
Money Power, and to protect our country from the power 
of this foreign Despotism. 

This Uprising Against the Oppression of the 
Money Power, now, will be as patriotic a movement 
as the uprising of our Revolutionary Fathers against the 
oppression of the Money Power, in 1776. The name of 
the “Union” should indicate its patriotic character. 
The best name for the organization, therefore, will be 

“THE PATRIOT UNION. ” 

The Patriot Union should be above all sectional 
feeling, and all party prejudices; and it should include in 
its membership persons of all sections, and all political 
parties; the only requirement for membership being a 
resolution to enter into a union of energies and resources, 
for the purpose of protecting and delivering American in¬ 
dustry from the domination of the Imperialism of Capital 
centered in Great Britain. 

And its name should indicate the fact that, as the 
Patriot Union includes people of all sections, and all 
political parties, and all business classes; so, under its 
auspices, all past differences are blotted out and forgotten 
in the grand united movement to save our country from 



ORGANIZED BY LODGES. 293 

the domination of the Money Power. The name should 
indicate that it is a Patriot Union of the North and South, 
of the East and West, in which all sectional feeling and 
prejudices are buried. It should indicate that, as the 
Patriot Union includes men of all classes of industry 
and all political parties, so, in it, all class interests are 
blended in the promotion of the common interests of all. 

2 nd. Organized by Lodges: 

The organization of the Patriot Union should be by 
Lodges; in order to the proper consideration of all meas¬ 
ures, and efficient action in promotion of the interests of 
the Union. 


3 rd. Three Orders of Lodges. 

In order that every industrial class may be properly 
represented, and in order to avoid conflict of interest or 
opinion, it will be better to have three Orders in the 
Patriot Union,—the Farmers’ Patriot Union, the Towns¬ 
men’s Patriot Union, and the Labor Patriot Union. By 
this means, each great branch of American industry will 
be kept distinct, and its interests will be distinctly repres¬ 
ented, and effectually fostered and protected. 

1 . The Farmers’ Patriot Union should include all 
branches of production from the soil: viz : 

1.) All American farmers owning their own farms, or 
renting farms owned by Americans in actual legal right. 
But no renter or manager of a farm owned by corpora¬ 
tions whose stockholders are not known to be Americans 
exclusively, should be eligible to membership. 2.) Stock- 
raisers, including all graziers and owners of cattle ranches 
owned and managed by individuals, or by companies 
whose stockholders are exclusively Americans. 3.) Cotton 
growers, and owners of sugar plantations. 4.) Market 



294 


THE REMEDY. 


gardeners and horticulturists; and all who are engaged in 
any department of agricultural production. 

2 . The Townsmen’s Patriot Union should include 
all the business men of our towns and cities, and men in 
the various professions: viz : 

i.) All American merchants, and grocers, and owners 
of shops and stores, who are engaged in independent 
business; including all companies, as well as individuals, 
whose stockholders are Americans not connected with the 
London Money Power. 2.) Boss carpenters, and masons, 
and architects, and builders, who are not connected with 
the Money Power. 3.) All American manufacturers of 
every class whose owners or stockholders are Americans, 
and not connected with the Money Power. 4.) All pro¬ 
fessional men having no business connection with the 
Money Power or its agents. 5.) All capitalists and banks 
whose stockholders are all Americans having no connec¬ 
tion with the Money Power. 6.) Mine owners, of coal, 
and iron, and gold, and silver and other metals, whose 
mines are owned by American stockholders. 7.) And 
all other classes of business men, whose business is run on 
the individual basis, or by companies whose stockholders 
are exclusively Americans, and which are not bonded to 
the Money Power. 

3 . The Labor Patriot Union should include all 

classes of Labor: viz: 

1) Farm operatives; 2) Clerks; 3) Employees of all 
the trades; 4) Employees of railroads and other corpora¬ 
tions ; 5) Factory, mill and shop operatives; 6) Working 
miners; and, generally, all Wage Earners engaged in any 
department of industry. 

4 . A grand branch of industry in any of the 
three foregoing Orders might organize a special order 
of the Patriot Union, so that its interests might be 
specially represented and considered. 





BASIS OF ORGANIZATION. 


295 


1) Thus, in the Farmers’ Patriot Union, there 
might be special branches; as The Stock Growers' Patriot 
Union, and the Cotton-Growers’ Patriot Union. 

2) In the Townsmen’s Patriot Union, there 
might be, in large cities, a need for Lodges composed of 
men in various branches of industry; as, the Merchants’ 
Patriot Union, the Builders’ Patriot Union, the Manu¬ 
facturers’ Patriot Union, the Miners’ Patriot Union. 

3) In the Labor Patriot Union, there might be 
also various Branch Lodges: In the country, there might 
be the Farm-Labor Patriot Union, and the Mine-Labor 
Patriot Union, In the towns and cities, there might be 
the Railroaders’ Labor Patriot Union, and Labor Patriot 
Union Lodges of craftsmen in the various branches of in¬ 
dustry, who might prefer to be associated together. 

All the foregoing classes of American industry have 
identical interests, and should unite in the Patriot Union, 
in order to conserve the general interests of all. The three 
great Orders of Lodges of the Patriot Union should in¬ 
clude all branches of American industry, and all persons 
who are not associated with the management of joint stock 
corporations owned by the Money Kings, or mortgaged to 
foreign capitalists. 

II. BASIS OF ORGANIZATION. 

The basis of organization should be: 1) By counties; 
2) By states; and 3) National. 

1st. County Patriot Organization. 

The Various Patriot Union Lodges in each county 
should annually elect a County Conference Board; which 
should meet at the county seat once a month, or at such 
time as should be appointed, to consider and carry out 
measures for conserving and promoting the industrial inter¬ 
ests of the people of the county. 



296 


THE REMEDY. 


In counties where the towns are not large, the Towns¬ 
men’s Patriot Union, the Farmers’ Patriot Union, and the 
Labor Patriot Union, might have equal representation in 
the County Conference Board. 

In the counties where the towns are important, the 
County Conference Board might consist of an equal repre¬ 
sentation of Townsmen’s Patriot Union Lodges, Farmers’ 
Patriot Union Lodges, Town Labor Patriot Union Lodges, 
and Country Labor Patriot Union Lodges. 

2d. State Patriot Organization. 

In each state, there should be a State Conference Board, 
consisting of eight men, which should meet once a month, 
or at such times as might be appointed, to consider the 
best means of promoting the industrial prosperity of the 
state, and of protecting the industrial interests of its people 
from the aggressive oppression of the Money Power. 

The State Conference Board might be elected in 
the following manner. The County Conference Boards 
might each nominate eight men, two representing the 
Townsmen’s Patriot Union, two, the Farmers’ Patriot 
Union, two, the Town-Labor Patriot Union, and two, the 
Country-Labor Patriot Union. Then, in an election in 
which all the Patriot Union Lodges of the State should 
vote, the State Board, consisting of two Townsmen Patri¬ 
ots, two Farmer Patriots, two Town-Labor Patriots, and 
two County-Labor Patriots, might be elected out of the 
whole number of nominees. 

3rd. National Patriot Organization. 

An Annual Convention of the Patriot Union 
should be held, which should consider questions pertain¬ 
ing to the general policy of the Patriot Union, and elect 
the President, and the National Conference Board of the 
Patriot Union. 



ORGANIZATION WILL BE PERPETUAL. 297 

The National Conference Board might consist of a 
President, and of four Vice-Presidents, and sixteen Mem¬ 
bers. One Vice-President and four Members might be ap¬ 
pointed from each of the four great sections of the country, 
divided as might be deemed best.—The Farmers’ Patriot 
Union, the Townsmen’s ^Patriot Union, the Town-Labor 
Patriot Union, and the Country-Labor Patriot Union might 
be equally represented in the National Conference Board. 

The National Conference Board should meet annually, 
or semi-annually, at such suitable place as might be ap¬ 
pointed, to consider measures pertaining to the industrial 
prosperity of the whole country. But it might be called 
together at any time, by the President. 


The above mode of organization is merely sug- ' 
gested as a basis from which the organization might start. 
On some such basis as the foregoing, the Patriot Union 
would be able to pursue its work effectively; and it would 
soon remedy existing evils, and bring our country into a 
state of such general and exalted prosperity as would in¬ 
troduce by our example a New Era in the history of the 
world. 

For, this new Organization, once inaugurated, 
would be maintained perpetually. It would put an 
end to the jarring conflicts of warring class interests: it 
would harmonize the interests of all industrial classes: it 
would adjust the price of labor, and of all industrial prod¬ 
ucts, upon a basis equally fair and just to all; and it would 
promote, in a manner unexampled in the past history of 
the world, new enterprises in every direction of industrial 
development. 

Its advantages will prove so great as to make it indis¬ 
pensable. The time will come when every country on the 
globe will have a Patriot Union, to develop its industry, 



298 


THE REMEDY. 


and to harmonize and promote the interests of all indus¬ 
trial classes. In its full development, it wtll diffuse among 
every class in each nation the principles of justice; and, 
in the end, it will unite all nations in industrial harmony, 
under the principle of fraternity embodied in the Golden 
Rule. 


Chapter V. 

WORK OF THE PATRIOT UNION. 

The power and efficiency of the Patriot Union will 
arise, especially, out of its 

I. MODE OF ACTIVITY. 

The Patriot Union will not be a political party. It 
will be a sort of General Trade Union. Its fundamental 
principle, from which it will derive all its power,-is the 

1st. Agreement or the Members to Trade with 
Each Other. 

The members of the Patriot Union should agree that 
they will buy from each other, in preference to purchasing 
from the Money Power, in all cases of competition. They 
should agree that they will buy from a Patriot merchant or 
grocer, rather than from a Jew Store, or any branch store 
established by the Money Power: that they will buy all 
manufactured articles,—building materials, articles of food 
and clothing, and all other manufactures,—from a Patriot 
manufacturer, rather than from factories of the Money 
Kings, when such articles can be so obtained: that they 
will buy their flour from a Patriot mill owner, rather than 
from mills owned by the Money Power: that they will 
buy meat from a Patriot butcher, rather than from a store 



KEY TO THE SITUATION. 


2 99 


selling Armour’s beef; and that they will buy bacon ffom 
a Patriot packing house, rather than from a packing house 
of the Money Power. 

Such an agreement is very simple, and yet it is 
The Key to the Situation. 

All parties would abide by this trade regulation; their 
own prosperity being so deeply involved in the move¬ 
ment—The grocer would buy flour and bacon and lard 
and dried beef from Patriot packing houses, rather than 
those of the Money Power—and the merchant would buy 
articles of household consumption, and goods sold in his 
business, from Patriot houses; for both merchant and gro¬ 
cer would find in the Patriot movement their only salva¬ 
tion from the competition of Stores established by the 
Money Kings.—The farmer would quit dealing with Jew 
Stores, and buy his goods altogether from Patriot mer¬ 
chants and grocers; for the success of the movement 
would be his only hope of paying off his mortgage, and 
saving his farm.—The workingman would buy his articles 
of household consumption from Patriot grocers and mer« 
chants; for by means of the Patriot Union, the Work¬ 
ing People will be backed in their conflict with Money 
King employers by the sympathy and the might of the 
whole American people.—There can be no doubt that this 
agreement would be universally and faithfully observed. 

, This agreement of the members of the Patriot Union 
to buy from each other, in preference to the agents of the 
Money Kings, is the one grand central point of power 
which would make the Patriot Union master of the sit¬ 
uation. For this agreement will afford a secure basis for 
established trade. It will prove an adequate and secure 
basis for the investment of money to supply the immense 
demand that will be everywhere afforded to new enter¬ 
prises by the Patriot Union. 



joo 


THE REMEDY. 


I^i every County, flour mills should be built, to supply 
the people of the county with flour. Such mills would 
afford an adequate market for the wheat grown in the 
county; for, in the greater part of the country, each 
county does not raise more wheat than enough to supply 
the home demand.—Where a county does not raise wheat 
enough to supply the home demand, a flour mill should be 
erected, notwithstanding; and wheat should be purchased 
from the wheat-growing sections and manufactured into 
flour for the supply of the County demand. 

For, as already stated, it is a most important law of 
Political Economy that, where a community needs to im¬ 
port any article for its consumption, it should buy, not 
the manufactured article, but the raw material: it should 
buy the article in its cheapest form, and let the com¬ 
munity make the profit of manufacturing it. This is a 
principle of prime importance, and its observance in all 
cases will greatly promote the prosperity of the com¬ 
munity. 

Packing houses should be built in every county, to kill 
at least enough pork and beef to supply the people of the 
town and county with beef and bacon and lard. And, 
if the county did not raise hogs and cattle enough for its 
home consumption, packing houses should be built, not¬ 
withstanding, and beef cattle and hogs should be imported 
for slaughter, to an extent sufficient to supply the county 
demand. In this way, the people of the county would 
save hundreds of thousands of dollars of profit realized* 
by its own people, which now go to swell the hoard of 
the Money Kings. 

Tanneries and shoe and harness manufactories should 
be established in every county, to tan leather and make 
shoes and harness enough for the county consumption. 
Even if the county had not tan bark, it would be better 
to import it than to buy leather, or leather manufactures. 



NEW INDUSTRIES ESTABLISHED. JO I 

It would probably not pay to establish manufactures for 
boots and shoes of fine quality; but heavy articles of or¬ 
dinary domestic wear, and all harness, should be made at 
home. 

A foundery should be established in every district of 
country, to supply the common grades of ironware to the 
people of the district. 

In every county, there should be a Factory for manu¬ 
facturing the coarser grades of cotton and -woolen goods 
for ordinary domestic wear. Finer goods it would not 
pay to manufacture; but much the greater quantity of 
goods consumed in every county are the substantial grades 
for every day wear. And it would greatly promote the 
prosperity of the county to establish such a Factory, im¬ 
port raw wool and cotton, and manufacture a sufficient 
quantity to supply the county demand. 

In hemp and flax growing districts, manufactures should 
be established that would supply the demand for those 
articles, of which we now import $33,000,000 worth an¬ 
nually. 

We now import $83,000,000 worth of sugar and mo¬ 
lasses annually. The culture of sorghum and the sugar 
beet, would supply this demand, and give great prosperity 
to the fertile farming regions of the West. 


The above system of industry, in which each com¬ 
munity supplies, as far as possible, its own wants, is the 
only system that accords with sound principles of Political 
Economy. Such a system will tend to equalize wealth, 
and give to every county the advantages which wealth 
confers. 

It will also greatly add to the national prosperity. At 
present w r e annually import, in a raw r or manufactured 
condition, sugar, flax, hemp, cotton, leather, wool, to the 



302 


THE REMEDY. 


value of $216,000,000, which it requires almost all our 
exports of breadstuffs and provisions to pay for. Sup¬ 
plying our own demand in those articles will greatly en¬ 
rich our people, and promote our national prosperity. 

And it would be entirely practicable to put this system 
in operation, at once, by means of the Patriot Union. 
For that organization would give a sure and steady market 
everywhere, at fair prices, to the extent of the county 
demand for consumption; and enterprising people in every 
county would be glad to avail themselves of the oppor¬ 
tunity to engage in the new enterprises which the Patriot 
Union would call into existence. 

And what a rush of industry would at once be started, 
all over the country. In every county seat would be 
erected flour mills, cotton and woolen and shoe factories, 
harness shops, iron founderies, packing houses and tanner¬ 
ies. In all the county towns stagnation would cease at 
once, and the towns would ring with the hum of industry. 

2nd. The Patriot Union Must Regulate Prices. 

1. In the nature of things the right to regulate prices 
would belong to the Patriot Union. This would be the 
only way to prevent a great evil. 

The dealers who belong to the Patriot Union might 
want to take advantage of the people being bound to 
trade with them to charge excessive prices for their goods. 
This could only be avoided by the Patriot Union hav¬ 
ing the right to regulate prices. 

The Right to Regulate the Standard of Prices 
would belong to the Patriot Union in the very nature of 
the relation of its members to each other. If the members 
agree to patronize Patriot business houses, the Patriot 
business houses, on the other hand, must agree that they 
will not make excessive charges, nor demand excessive 



REGULATION OF PRICES. 303 

profits. The Patriot Union must have the right to say 
that the farmer shall not charge excessive prices for his 
produce: that the butcher shall not charge excessive 
prices for his meat: that the merchant and grocer shall 
not charge excessive prices for their goods.—In the very 
nature of things, the Patriot Union would have the right 
to regulate the standard of all prices, so far as the home 
demand goes. 

This Regulation of all Prices by a Regular 
System in which all prices are fairly and equally adjusted 
in relation to the general scale of prices will be a grand 
advance in the industrial condition of the world. 

2 . No Method of Regulating the Standard of 
Prices has ever yet been discovered. 

1) The price of imports has been regulated by the 
tariff. The price of those products of a country in which 
the home demand is not fully supplied have also been 
regulated by a tariff. 

2) But the price of the great mass of production, in which 
the country fully supplies its own wants and has a surplus 
for exportation, is left unregulated as to its price. This has 
always been the greatest evil in the industrial condition of 
past times. 

3) It has, indeed, been held that the price of such prod¬ 
ucts is sufficiently regulated by the amount of money in 
a country, and by the law of supply and demand. But 
it is found, in our time, that the price of such products is 
not regulated by the amount of currency, nor by the law 
of supply and demand. 

1] In the hard times from 1873 to 1878, we had in 
the country $900,000,000 of currency; while prices were 
so low that it only required $300,000,000 in circulation 
to do the business of the country, $600,000,000 being 
locked up. At the present time, we have $1,700,000,- 
000 of money in the country, paper and specie; while 



304 THE REMEDY. 

prices are lower than they were in i860, when we had 
only $207,000,000 of currency in the country—lower 
than in 1850, before prices were affected by the gold of 
California.* 

It only requires, at present, about $400,000,000 to carry 
on the business of the country with the present low scale 
of prices. The rest of the money,—$1,300,000,000,—is 
locked up.—It is evident that, in our time, a sufficient 
amount of currency has no influence whatever in raising 
the prices of a country. 

2] On the other hand, the law of supply and demand 
no longer regulates prices. Our experience two years ago 
proves this. When our wheat crop was fifty million 
bushels short, and there was an active demand for wheat 
in Europe, and wheat ought to have gone up to over $1 
a bushel, we have seen how the Chicago buyers put 
wheat down to 60 cents a bushel, in defiance of the law 
of supply and demand. 

The events of our time prove that the old methods of 
regulating prices do not answer the purpose any longer, 
but that the Money Kings regulate prices to suit them¬ 
selves, by the power of Capital. 

This State of Fact must be Recognized. And 
it brings a most important question before us for de¬ 
termination. 

3 . The old Method of Regulating Prices has 
been Overthrown by the Money Power. We must 
either let the Money Power continue to regulate all prices, 
and thereby ruin us all, or we must find some method of 
regulating prices at a fair standard, that will be effectual. 

This is the great question now* before us. 
What new tnethed of regulating prices ? 

4 . Prices cannot be regulated by Law. A legis- 


* This is ascertained by an actual comparison of the prices. 




PRESENT FALSE INDUSTRIAL SYSTEM. 305 

lative body is not usually the best agent to properly regulate 
prices. Such bodies have not the necessary experience; 
and, th'ey are too liable to be influenced by other than in¬ 
dustrial considerations, and would be too apt to frame 
Laws with a view to the furtherance of local interests. 
And besides, it would too greatly increase the power of 
the Government. 

5 . The only proper method of fixing prices is by 
a special Organization of the people, formed for that pur¬ 
pose, and for the promotion of the general prosperity of 
the country. The world has reached a point at which 
prices must be fixed by the proposed Patriot Union, or 
else they will be fixed by a combination of Capital. 

The old way of leaving prices to b^ regulated by the 
amount of currency and the law of supply and demand 
will not do any longer. 

We cannot regulate prices by law; and if the People will 
not do it by means of the Patriot Union, Capitalists will 
continue to do it, and will thereby ruin the world. The 
organization of the people in the Patriot Union, to regu¬ 
late prices, and to otherwise promote the general pros¬ 
perity, is, in our age, an imperative necessity. Nothing 
else will save our country and the world from absolute 
ruin. 

3rd. Our Present False Industrial System. 

It is necessary to remind the reader that the evils that 
are afflicting our country have their immediate cause in the 
low prices which the Money Power is putting upon all 
farming produce. In order to save the country from the 
grasp of the Money Power, the price of farming produce 
must be raised, and all prices properly adjusted by the 
Patriot Union. 



306 the remedy. 

1. Present False Industrial System Crushes Farmers 
and Retail Merchants. 

At present, the Money Kings are making all the profits 
of handling farming produce; and, to increase those profits, 
they have cut down the prices of the farmer, and the 
profits of the retail merchant. 

The wholesale merchant used to be content with fifteen 
per cent, profit, the amount of his sales making up his in¬ 
come; while the retail merchant, had to have from 25 to 
50 per cent, profit, in order to be fairly prosperous. But 
now, after leaving the farm, produce pays from'35 to 50 
per cent, profits before it reaches the retail dealer; and 
the retailer is cut down in his price accordingly, until his 
profit hardly reaches 15 per cent. < 

The farmer and the retail dealer are cut down in their 
profits, and the consumer pays a high price for his food, in 
order that the Money Kings may realize all the profits of 
the Industrial System. 

The manner in which this System works may be readily 
illustrated:—The farmer’s wheat, raised ten miles out in 
the country from a Western town, instead of being ground 
into flour at the county town, and eaten at home, must be 
sent to New Jersey to be ground into flour, and then 
hauled back, and sold in the town where the wheat was 
raised. 

Before reaching the retail dealer who sells to the con¬ 
sumer, the flour has paid profits to the buyer of the wheat, 
to the railroad that hauled it East, to the wholesale dealer, 
to the miller who ground it, to the wholesale dealer who 
sent it West, and to the railroad for hauling it back. In 
order to pay all these charges, the farmer must take a low 
price for his wheat, and the retail dealer must make a low 
profit on his sales, while the consumer pays a high price 
for his flour. 

This is good for the Money Kings, whose agents buy 



FARMERS AND MERCHANTS CRUSHED. 307 

the wheat, whose railroads haul it East, whose wholesale 
dealer delivers it to the miller, whose mills grind it—who, 
in a word, make all the profits between the farmer and the 
retail merchant who sells the flour to the consumer. It is a 
good thing for the Money Kings who make all the profit; 
—but it is very bad for the farmer and the retail merchant, 
who are both cut down in their prices, in order to en¬ 
large the profits of the Money Kings on the much-handled 
produce. 

2. This System Being Made Universal. 

The Money Kings now want to make this system of 
business universal. They are enforcing it to a great ex¬ 
tent; greatly to their own profit, and to the injury of the 
general public.—The beef of Iowa, grown ten miles from 
Davenport, cannot be sold in Davenport; but it must be 
shipped to Chicago, and there killed by Armour, and then 
shipped back to Davenport for the people to eat.—The 
beef of Colorado must be shipped to Kansas City, to be 
killed by Armour, and be shipped back, to be eaten by the 
people of Colorado. 

The butchers do not want to do this business; they pre¬ 
fer to kill their own meat; — but Armour is forcing them 
into it, by selling beef at a loss, till they are compelled to 
submit.—The beef of the West is all to be carried to the 
East for slaughter, and the meat brought back to the West 
for consumption; and the hides must be tanned in the 
East, and made into shoes for Western wear. Western 
hogs are hauled on railroads to Chicago, to be killed, and 
the bacon and lard brought back to the West for con¬ 
sumption. 

3. This System an Arsurd Violation of all Principles of 
Political Economy. 

In this system, the Money Kings make all the money. 
They make the profit on the double transportation, on the 
killing, and on the handling. 



3°8 


THE REMEDY. 


This system of sending all our produce away 

in a raw state, to be put into shape for use, and then 
bringing it back for consumption, is a gross absurdity. To 
illustrate :—A farmer has a barn in which he stores his 
provender and keeps his stock. Will he not be a fool to 
have another barn at the other end of his farm, a mile 
away, where he keeps his cutting box and his steaming 
apparatus, so that he has to haul all his provender away 
from barn No. i to barn No. 2, to be prepared for use, and 
then haul it back to be fed to his stock ? It is equally 
ruinous to the people of this country to send all agricultural 
produce to a distant market to be prepared for use, and 
then buy it back in a manufactured form for home con¬ 
sumption. 

If the fanner who sends his provender to the distant 
barn, to be prepared for use, should sell it to a speculator 
out of barn No. r, and allow him to haul it away and pre¬ 
pare it for use, and then haul it back again and charge 
him an additional price for it, sufficient to pay a fair price 
for hauling and handling, it would not be long before the 
speculator would own the farmer’s farm and stock.—The 
Money Power is the speculator who is doing this by us. 
It is buying our raw produce, and doing the hauling both 
ways, and preparing our raw products for use by manu¬ 
facturing them; and it is making all the money, and is 
now in a fair way to get possession of all the property of 
our people. 

The only way for the farmer to save himself, in 

such a case, will be to put up a cutting box and steaming 
apparatus in the barn where his provender and his stock 
are kept, and prepare his provender for use himself, and 
thus save all the hauling, and the cost of all the handling. 
Then he will make money. The speculator will lose his 
profits, because the farmer has no longer any use for him. 
But the farmer, saving all that the speculator made, will 



TRUE INDUSTRIAL SYSTEM. 


3°9 


soon grow rich.— So we must quit our absurd System of 
sending our raw products away from home for manufacture, 
and buying them back again in a manufactured form. 

4th. The True Industrial System. 

1 Each County Should Manufacture at Home, 
at least so much of its own Products as are Need¬ 
ed for Home Consumption, and only send away the 
surplus. The consistency of this with sound reason is 
apparent at a glance. 

1.) If Every County Ground its own Wheat, 
and killed its own hogs and cattle, and tanned and 
manufactured its own leather, the farmers could get a 
fair price for the hogs and beef and wheat; while the 
consumer in the county would get his food supplies as 
cheap as now. And moreover, the business men in the 
County, who are now making nothing, would get rich on 
the profits of grinding the wheat, and killing the hogs 
and cattle. Every County in the West might, in this 
way, make hundreds of thousands of dollars that are now 
made by the Money Kings. 

We Want a System of Industry in which all the 
Counties shall prepare the produce of the Counties for 
home consumption, without sending it abroad and bring¬ 
ing it back again for consumption; and in which the pro¬ 
duce of the County should, as far as practicable, be placed 
in the manufactured condition before being sent to other 
markets for consumption. By this system the farmers 
would pay their debts, and get rich: the towns would 
flourish with new business they are now not doing at all; 
and the consumer would pay no more for food than he 
is paying now. 

2. County Buyers Should Shir all Produce. 

The better price obtained by the farmer for his produce 
sold to supply home demand would be a great benefit to 



3 io 


THE REMEDY. 


him. It would enable him the better to stand the lower 
price he would have to take for the portion of his pro¬ 
duce that was sent away to market. And, in the end, 
the home demand would regulate the price of the pro¬ 
duce shipped, as well as that sold to supply the home 
demand. 

For, if the Money Kings would not give fair prices for 
the produce that was shipped, the home buyers would soon 
be able to buy all the produce and ship it to the great 
markets of the country. For the home shippers could do 
the work much cheaper than it can be done under the 
present system. 

For example : Flour mills owned in Kansas could sell 
flour cheaper in Chicago than New Jersey mills, which 
bought their wheat in Kansas, and had to ship their 
flour back to Chicago. For the Kansas miller, buying 
his wheat at home, can get it cheaper than its cost to the 
New Jersey miller; and the shipment to Chicago from 
Kansas is cheaper than the shipment to Chicago from New 
Jersey.—And so of the other products of the country. 

Besides, the county manufacturer of home products, 
—flour, bacon, lard, prepared beef, etc.—having a good 
price at home, could afford to ship abroad on a close 
margin of profit. In the end, the county buyers would 
be able to ship all the products of the county that were 
sent abroad, so that the profits made on the shipments 
would be kept at home and add to the county w'ealth. 

5th. The Patriot Union Must Break Down the 
False Business System 

which has been established by the Money Kings in this 
country for their own profit, to the ruin of our people, 
and establish the proper system of industry, and thus 
promote the public prosperity and the betterment of every 
class of industry. 



UNIVERSAL PROSPERITY. 


3 ” 

1 . Only a Grand Industrial Organization can 
effect this result. Only such an organization can break 
down the false system of industry that now prevails, and 
establish a right system of industry. No man could now- 
enter into business in competition with the Money Kings. 
But the Patriot Union, existing all over the country, 
would give sure and profitable markets to the home buyer, 
both for the products which he sold to the home markets, 
and for those shipped away to other points. 

The System Would Soon be in Universal Opera¬ 
tion, and the whole country in the full tide of prosperity. 
The farmers would be getting good prices, and would 
soon be out of debt: the merchants and grocers of the 
towns, freed from the danger of Jew Stores, and doing 
business at a fair scale of profits, would grow rich; and 
Labor, sharing the general prosperity, out of good wages 
would begin to accumulate savings. The West and the 
South would have a prosperity such as they have never 
known. 

The East also would hum with industry,—building 
ships, and establishing Patriot mercantile houses, to carry 
on the grand import and export trade of the country.— 
For, the prosperity of the East, at present, is not so much 
the prosperity of our own people, as the prosperity of the 
Money Kings and their agents. 

The Patriot Union would not only take the whole 
business of our counties out of the hands of the Money 
Kings, and give it to our home people, but in its full exten¬ 
sion, it would take the wholesale trade of the country and 
the import and export trade away from the Money Kings, 
and place them in the hands of members of the Patriot 
Union. —When Western and Southern merchants would 
furnish a market all over the country for imports sold by 
Patriot houses, it would not be long before an abundance 



312 


the remedy. 


of Eastern Capital would go into the business and supply 
the demand. 

In the last twenty years, the Money Kings have broken 
down in this country two hundred thousand great busi¬ 
ness establishments, whose failure has been reported; be¬ 
sides many thousands more of small establishments that, 
have gone down unnoticed. The change of the business 
of the country from the hands of our own people into the 
hands of the Money Kings has wrought wide-spread ruin. 
So, on the other hand, the taking of the business of the 
country out of the hands of the Money Kings and putting 
it into the hands of our people again, will be like life 
from the dead. 

It will call into operation again two hundred thousand 
great business establishments in the place of those de¬ 
stroyed by the Money Kings; and it will summon into 
life ten times as many moderate establishments all over 
the country as have gone down in the last twenty years. 
The industry of the country will have a Grand Resurrec¬ 
tion, and will move forward with the freshness of a new' 
life into the era of unprecedented industrial prosperity to 
which the Patriot Union will give birth. 

II. OBJECTIONS ANSWERED. 

i. It may be objected that the establishment of a 
higher scale of prices by the Patriot Union might lose 
us the foreign market for our wheat. To this I answer 

1) This is a mistake. England only buys from us what 
she has to buy; and she would buy the same amount, if 
she had to pay a fair price for it. 

2) As it is, the English market for our wheat is a great 
disadvantage for our farmers. We now sell one-fourth of 
our wheat crop to England; and the Money Kings make 
our farmers take the Liverpool price, not only for the 
wheat that is sent abroad, but for the three-fourths which 



Objections answered. 


3i3 


is sold and consumed at home. The farmers would be 
better off if the wheat sold to England were burned up, 
if they might so get a fair price for the three-fourths sold 
in the home market. 

3) Furthermore, the Money Kings raise wheat enough 
on their bonanza wheat farms to supply the English mar¬ 
kets. When the Patriot Union is established, we will 
have no need of their bonanza wheat to supply the home 
market, and they can send it abroad to England; while 
the American Patriot farmers having the home market 
will get a fair price for their wheat consumed at home. 

4) At present, we are raising too much wheat. We had 
better raise less wheat, and more sugar, and flax and 
hemp and wool, in the West. The Western people can 
not now go into the raising of sorghum and the sugar 
beet, and the production of sugar on a grand scale; be¬ 
cause the Money Kings hold our market for their Sugar 
Trusts, and they would destroy any American who went 
into the sugar production. Rut with the assured demand 
at a fair price which the Patriot Union would afford, 
the West would go into sugar production on a large scale, 
at once, and we would very soon fully supply our own 
market with sugar. We would also soon cease to import 
hemp and flax and wool and leather.—By doing this, we 
would save more than we now get as the price of all our 
exported wheat and beef and bacon put together. 

2. It may be objected that, while the rise of prices 
effected by the Patriot Union rvould be good for the 
Western farmers, it would be an injury to the Southern 
planter, raising cotton for the foreign market. It may be 
said that, if we raise the standard of prices in the coun¬ 
try, the cotton grower would have to raise his cotton at a 
greater cost, while he got for it the same price he now 
receives in the foreign market.—I reply that this is founded 
on error. 



314 


THE REMEDY. 


1) The Southern planter would get a better price, in 
the new scale of prices, for his cotton sold in the home 
market. In fact, the American Patriot cotton grower, 
under the new system, would be better off than now. 
There are an immense number of our cotton plantations 
now in possession of the London Money Kings. These 
would be shut out of the home market, and they would 
have to send their cotton abroad; and this would leave 
the good price of the home market to the American Pa¬ 
triot cotton grower. 

2) Furthermore, during the Late War, the Money Kings 
tried the experiment of raising cotton in India, and Egypt, 
and elsewhere. It was found that they could not raise it 
for less than 12 cents a pound. And if American cotton 
were now held at 12 cents a pound, the English manufact¬ 
urers would have to pay that price for it. And we ought 
to fix our prices at such a point as to get the highest price 
for our products in the foreign market that they will bring. 
The Money Kings ought to be compelled to pay a fair price 
for all the cotton they buy from us. 

3. It may be objected that it would disorder the busi¬ 
ness of the country, if we supplied our home consumption 
in our counties in the West and South by home manufact¬ 
ures; as this would shut out the products of Eastern fac¬ 
tories, owned by the Money Kings, from the Western and 
Southern markets, to that extent.—This objection also is 
founded on error. 

1) The Money Kings have the markets of the tvorld; 
and if they were shut out from the home market of the 
West and South by their being supplied with the County 
manufactures of the Patriot Union, it would only cause 
them to seek a foreign market for their manufactures in 
the East, greatly to the prosperity of the country. 

2) We ought to supply our home market with woolen 
and cotton goods, with leather products, with iron, and all 



PROSPERITY GREATLY PROMOTED. 315 

other things consumed in our market; and, more than this, 
we ought to export a large surplus to the markets of the 
world. The Trusts of the Money Kings are now attempt¬ 
ing to prevent this; limiting our production to a point short 
of the full supply of our home market; thus leaving a part 
of our demand to be supplied by English manufactures. 
The Money Kings never will supply our home market, if 
it is left to them. The only way to have our home mar¬ 
ket fully supplied and have a surplus to ship abroad, is to 
take the home market out of the hands of the Money 
Kings, and supply it in great measure by county manu¬ 
factures; thus leaving the manufactures already established 
by the Money Kings in the country to seek, in part, a for¬ 
eign market. 

The Patriot Union would effect this, and thereby 
greatly promote the national prosperity. It would dimin¬ 
ish our imports of sugar, cotton and woolen goods, iron, 
leather, wool, and hemp and flax, to the amount of over 
$200,000,000 annually; and it would add perhaps an equal 
amount to the value of our exports. At present, our peo¬ 
ple are doing a losing trade with the rest of the world, our 
imports exceeding what our people get for our exports by 
many millions. Under the new industrial system furthered 
by the Patriot Union, this state of things would be re¬ 
versed, and the price obtained by our people for our ex¬ 
ports would exceed our imports annually, by several hun¬ 
dred million dollars. Not only would individuals in our 
country grow rich under the system, but the country itself 
would rapidly grow’ in wealth, until our prosperity would 
surpass anything even dreamed of hitherto, in the history 
of the world. 



3 l6 


the remedy. 


Chapter VI. 

INVESTMENTS FOR THE PEOPLE, SECURED 
BY THE PATRIOT UNION. 

The grand industrial system inaugurated by the Pa¬ 
triot Union would not injure any American interest, or 
any American industry. It would greatly benefit them 
all.—The Money Kings might suffer in the transition, it 
is true. But the English Cuckoo hatched in our national 
nest has thrown most of our business people out of the 
nest, to make room for itself. When we put our expelled 
fledgelings back into the nest, if they crowd the Cuckoo in 
its quarters, any inconvenience it may endure will be only 
the fate due to such intruders. 

Better that the Money Kings should lose some of their 
bloated gains, than that the rest of our people should be 
deprived of all their property, for the enrichment of these 
foreign intruders upon our industry. 

I. THE PATRIOT UNION WILL SECURE 
INVESTMENTS. 

A liberal scale of prices is better for the people of any 
country. And, in establishing a scale of fair prices, the 
Patriot Union will merely break down the present abom¬ 
inable industrial system in which the Money Kings are 
making all the money; and will substitute for it the most 
perfect system of industry the world has ever known. One 
great advantage of the proposed system is that 

1 st. The Profits Now Made by the Money Kings 
Will be Made by the American People, 

to the enrichment of them all.—The farmers will be en¬ 
riched by fair prices. The laboring men will get better 



PATRIOT UNION SECURES INVESTMENTS. 3 1 7 

wages, and have but little more expense. The merchants 
and grocers will get rich by the more liberal expenditure 
of the farmers, and working people, and people of all 
classes of industry. The towns will flourish with industries 
established by the Patriot Union. Everybody will be 
making money; and everybody will soon be seeking in¬ 
vestments. A very little time would elapse after the 
Patriot Union was in full operation before, in the general 
prosperity, all classes of industry would have money for 
investment. 

Then the Patriot Union would enter upon a 
new era in its existence. It would find investments for 
the people,—solid investments, that would yield regular, 
safe dividends. 

Heretofore, in every era of prosperity, our people have 
gone wild with excitement, and embarked in wild-cat 
speculations in real estate. The investments which they 
made added nothing to the wealth of the country; and the 
excitement was always followed by financial collapse. But 
this evil would be guarded against by the Patriot Union. 

Our country is full of property owned by the London 
Money Kings, which ought to be the property of our own 
people. It will be remembered that it is a fixed principle 
of Political Economy that the people of every country 
ought to own its own railroads. It would be the office of 
the Patriot Union to secure the purchase of this, and 
other property hereafter to be mentioned, for our people, 
and thus divert them from unprofitable speculations in un¬ 
developed real estate. 

But it will be asked 

2 nd. How Can We Get the Railroads ? 

We should not deal unjustly with the Money Kings. We 
should not retaliate upon them the wrongs they have in¬ 
flicted upon our people. We should treat them with per- 



318 the remedy. 

feet justice. I would take no property they are not willing 
to sell; and we should pay a fair value for all we buy from 
them.—Many persons would shrink from compelling the 
Money Kings to sell their property by public law. But it 
is perfectly right for the American people to compel the 
Money Kings to sell their property, if it can be done by 
fair business competition. 

The Money Kings have acted on this principle, availing 
themselves of their superior might of Capital to compel 
weaker parties engaged in business to give place to them. 
The Money Kings are stronger than any individual busi¬ 
ness man, or any single business company. But the 
American people, banded together in the Patriot Union, 
are mightier than the Money Power. When the American 
people unite their resources and energies in the Patriot 
Union, to engage in any line of business, they will take 
that line of business away from the Money Kings. 

For instance; if, acting through the Patriot Union, 
the American people should combine their means, and 
parallel the Great Trunk Line railroads of the Money 
Kings with other roads owned by companies organized 
under the auspices of the Patriot Union— these new 
Patriot roads would do all the business, and make the 
railroads of the Money Kings worthless. The Patriot 
Union would have a perfect right to avail itself of its 
superior might, and compel the Money Kings to sell us 
property we ought to own—the profits of which, indeed, 
if long continued in their possession, would enable them to 
bankrupt and ruin us. 

Hence, when money for investment was offered to the 
Patriot Union on every side, — when farmers, and 
merchants, and all business men, and all employees in 
every kind of business had money they were anxious to in¬ 
vest, the Patriot Union could easily find investment for 
it. A great Trunk Line Railroad from the Mississippi to 



RAILROADS PURCHASED. 


319 


New York would be a grand investment. Such a road 
would only cost some thirty millions of dollars. In less 
than a year after the Patriot Union was in full operation, 
offers of money for investment coming from all over the 
country would far exceed that amount. The railroad 
would be built. It, with its branch lines, would do all 
the business between the East and the West; for, of course, 
all Patriots would travel upon the Patriot road, and all 
Patriot business men would ship their freights over it. 

But if the Money Kings were wise, before matters 
reached this pass, they would offer all their railroad 
property to the Patriot Union, to be purchased at a 
fair price. 

• The Patriot Union can make its own terms with the 
railroad owners. And it might make some such arrange¬ 
ment as this:—The Money Kings to restock the railroads 
at the price which it would cost to build them and furnish 
the rolling stock; and to hold them at that specified price, 
subject to purchase by the American people, in shares of 
one hundred dollars ($100). But until the entire stock 
should be purchased from them, the Money Kings to re¬ 
ceive the dividends on so much of the stock as remained 
in their possession. 

3rd. The American People Could Easily Purchase 
the Railroads. 

Under such conditions, how long would it be before the 
American people would own the railroads? Before five 
years had elapsed we would own them all. 

Even now, hard as times are, our people spend in 
spirituous liquors $900,000,000 per annum, and $600,- 
000,000 for tobacco; and in other things they would be 
better off w-ithout, at least $2,000,000,000 more. It is 
safe to estimate that the American people spend every 



320 


THE REMEDY. 


year $3,500,000,000 for tilings that do not benefit them at 
all, but are really harmful. 

The greater part of this astonishing amount of waste is 
spent by the working people. For though the waste of 
each individual among wage earners may be less, their 
vastly greater number brings up the aggregate of expendit¬ 
ures to a much larger amount then that spent for those 
things by wealthier people. 

In the fact of this vast expenditure, and in the oppor¬ 
tunity for economy and profitable investment made possible 
by the possession of so large an amount of money, above 
the actual cost of living, lies the best hope for the uplift¬ 
ing of the great mass of the American people. If the 
American people are to be uplifted, the work must be 
done by themselves. They must exercise the self-denial 
which lies at the foundation of all improvement in the 
financial circumstances, the mental development, or the 
spiritual ennoblement of man. 

This waste of money in drink, tobacco and sensual self 
indulgence is largely caused by want of inducement to 
economize. The man working for wages who saves fifty 
dollars cannot find investment for it. He cannot invest in 
land; for he cannot attend to it. He cannot find safe 
stocks that will yield a good dividend; for such stocks are 
not put upon the market except at such a premium as he 
would not care to pay, the stocks in the market being only 
baits for the unwary.—Having no opportunity for invest¬ 
ment, the wage earner spends his money in self indulgence, 
or wastes it in vice. 

Start the American people in a race of accumulation, 
by affording them safe investments that will yield fair 
dividends, and they will all begin to economize. 

This will do more for the promotion of temperance 
and habits of morality, than any fact in human history. 
It will, indeed, inaugurate a New Era in the social and 



UPLIFTING OF HUMANITY. 32 I 

moral, as well as in the business world. A boom for in¬ 
vestment would soon arise: everybody would be eager to 
economize, and invest savings in stocks that would yield 
good and sure returns. Every man would have a longing 
to belong to the property class. No one would any longer 
be content to be moneyless and poor. The distinction of 
men of property and the non-property class would soon 
no longer exist. All men would be men of property; 
the only distinction being that some would own more 
property than others.—Such a state of fact would do more 
to lift up the great mass of mankind into the region of self- 
respect and aspiration, than any event that has ever 
occured in the business world. 

The condition of the country would soon be trans¬ 
formed. In five years, the American people might own 
all the railroads: in ten years, they might own all the 
manufactures in the country now owned by the Money 
Kings; and, in twenty years, the American people might 
own all the possessions of the Money Kings in the United 
States. 

II. THE MONEY POWER RENDERED A BLESSING. : 

One of the greatest advantages of the proposed indus¬ 
trial system remains to be stated. In the new state of 
things, the Money Kings would become a blessing to the 
country, instead of a curse. 

1 st. Pioneers of Industry. 

The Money Kings would be paid for their possessions 
in currency, which would be of value in this country, and 
nowhere else. They could use it in the United States, for 
all business purposes,—to hire labor, to buy products of 
industry, and to start new enterprises. 

We yould stipulate with them that they might start any 
new enterprises in the country, and have them in full pos- 



322 


THE REMEDY. 


session and be admitted to all business advantages, for 
twenty years; but, at the end of that time, they should be 
open to purchase by the American people at a fair price, 
not exceeding the cost of the original investment. 

This would keep the Money Kings constantly on the 
lookout for new investments. They would build irrigating 
canals, to redeem the Rocky Mountain deserts and restore 
them to fertility: they would drain and redeem the swamp 
lands of the Mississippi Valley and Florida: they would 
build new canals and new railroads: they would build 
ships with which to transport our commerce on the ocean: 
they would push forward new inventions: they would 
build up new cities. For we would stipulate that they 
might build new houses and hold them for twenty years, 
before setting them at purchase; but that they should not 
buy houses, or factories, or other property, already built 
or improved. They would thus become the pioneers of 
industry in every department of industrial progress. They 
would be getting richer all the time; but their wealth 
would be a blessing to the world, and not a curse. 

An incidental advantage will arise out of this that has 
already been briefly touched upon,—the suppression of 
all speculation in real estate. The Money Kings could 
not profit, as now, by the labor of other people enhancing 
the value of their investments; for it would be held that 
their possession and use of the property for twenty years 
would be a sufficient advantage, so that when the property 
was purchased from them, they would receive for it only 
the cost of their original investment. 

And the property of the Jew Money Kings, being offered 
at cost twenty years after the investment, would be a con¬ 
stant stream of new property corning on the market. It 
would be the cheapest property that could be bought; and 
all persons would seek those investments. And such in¬ 
vestments constantly coming into market at the same rate 



NEW RULE MAKES MONEY KINGS PERPETUAL BLESSING. 323 

of value, would prevent any undue inflation of property, 
and all speculative excitement. Such a state of facts would 
tend to keep all property at an equable value, and put a 
stop to all wild speculation. 

2nd. The New Rule, Perpetual. 

The rule of making the property of the Money Kings 
purchasable by the people of the country in which their in¬ 
vestments lie, is destined to revolutionize the world. This 
principle, started in America, will be perpetuated, and will 
be extended all over the earth. 

Palestine is the natural trade center of the world; and 
the Jews, when restored to their own country, will be, 
throughout all ages, the Merchant Princes of the earth. It 
will then be necessary to establish the principle that they 
shall not hold property in any country, outside of Pales¬ 
tine, longer than twenty years; as the only method of pre¬ 
venting them from bankrupting mankind, and getting pos¬ 
session of all the property of the earth. 

It should be a principle of universal application, in all 
countries, and throughout all time, that the Jew Money 
Kings, either now while they are in London as their cen¬ 
ter, or after a while when they will center their operations 
in Palestine, shall, after holding property for twenty years 
in any country, place it on purchase by the people of the 
country, at the price of the original cost of the investment. 

This will make the Jews a blessing to all nations. It 
will fulfill the prophecy that their influence upon all nations 
shall be like the bounteous dew, which relieves drought 
and makes vegetation flourish in luxuriant growth. 

The Jews, holding property perpetually, are a curse to 
mankind- Holding property for twenty years, they be¬ 
come the pioneers of industrial advancement. They will 
be constantly adding to the property of the earth, which 
the rest of mankind will purchase from them as soon as 


3 2 4 


THE REMEDY. 


it is fully developed. They will be constantly conquering 
acquisitions from the realm of undeveloped nature; and 
mankind will, after twenty years, take their conquests at 
a fair price, as the heritage of the race. This system of 
purchasing the property of the Jews will cause the People , 
who make the purchase, to become in the course of ages 
immensely rich. The earth will be full of wealth; for the 
Jews will be always getting new property; and, as fast as 
they develop it, they will be paid for it, and it will be¬ 
come the wealth of the people of the country in which 
it lies. 

Here is the destined 

III. SOLUTION OF THE QUESTIONS BETWEEN 
LABOR AND CAPITAL. 

In the present Age, Capital is concentrated in the hands 
of the Jews. It will be so in all future time. In all 
future time, the Jews are the destined great Capitalists of 
the earth. The great question between productive in¬ 
dustry and Capital will always be a question between the 
Jew's and the Gentile world. It will not be a question of 
how to keep the Jews on an equality with the Gentiles. 
For that is impossible: the supremacy of the Jews in 
wealth is a foregone conclusion—from their being prac¬ 
tically a great National Syndicate, and from the superior 
advantages of the location of Palestine for making and 
keeping it, in the future, the commercial center of the 
Earth. 

The question between Productive Industry and Capital 
will be,—How to make the supremacj' of the Jervs a 
blessing to the world and not a curse—How to keep them 
in a recognized position of beneficial leadership of in¬ 
dustry, and prevent them from getting possession of all 
business and all wealth.—This question can find no other 
solution than the one given in this work. 



SOLUTION Of QUESTIONS BF.TW. LABOR AND CAPITAL. 325 

How much better thus to utilize Capital and make it the 
ally of Productive Industry, than to antagonize it and treat 
it as an enemy. In a proper adjustment of industrial ques¬ 
tions, there is no antagonism between Capital and Labor. 
They are allies. 

While Capital holds all it gets, and bands itself into an 
Imperialism for greater accumulation, it is a crushing des¬ 
potism. But when Capital is bridled by law, and com¬ 
pelled, after twenty years possession of the property it 
acquires in foreign countries, to sell the property to the peo¬ 
ple of those countries at a fair price, then Capital becomes 
the helper of Labor. It does the hard pioneer work of 
development, which it ought to do, on account of its su¬ 
perior might, and as the price it pays to the world for its 
superior advantages. But Industry becomes its heir; and 
the accumulations of Capital become the heritage of man¬ 
kind. 

How much better such an adjustment of the questions 
between the Money Kings and the people of the country 
where they operate, than putting all property into the 
hands of the Government, as Socialists have proposed. 
Socialism would impoverish mankind, in order to increase 
the wealth of the Government, and the patronage of office 
holders: this adjustment will increase the wealth of man¬ 
kind in a degree inconceivable in the present age. So¬ 
cialism depresses the whole human race into the common 
level of a hopeless poverty: this adjustment lifts the whole 
race into the self-respect of constantly increasing wealth. 
Socialism destroys energy by the hopelessness of all aspi¬ 
ration : this adjustment starts mankind onward in a career 
of boundless enterprise and activity, inspired by the emu¬ 
lation of example and the consciousness of increasing at¬ 
tainment.—This adjustment will open to mankind the 
door of hope that leads into the Higher Era for which the 
World is almost hopelessly longing. 



THE REMEDY. 


326 

In this adjustment the antagonism between Capital and 
Labor will be finally allayed. Capital is ‘ ‘ the Lion ” that 
has been devouring “the Lamb,”—the People engaged in 
industrial occupations. Capital is “the Bear” that has 
been destroying “the Cow” of industry. By this adjust¬ 
ment, “the Lion and the Lamb shall lie down together; 
and the Cow and the Bear shall feed” together in the 
pastures of industry. 

In the end, it will probably be held that the property 
thus bought from the Money Kings should be held by the 
purchaser for only twenty years, and that then it shall be 
purchasable by some one else, and the owner of the stock 
made to seek some other investment. In this way, young 
people just starting in life would always have a place to 
put their-savings, and an encouragement to economize.— 
But this feature is a refinement for which we are not yet 
prepared, though future times may adopt it. 


Chapter VII. 

CONCLUSION. 

I wish to disclaim all prejudice against the Jews. They 
are the destined Merchant Princes of the earth, in the 
great Coming Age. 

I am glad that Palestine is the natural center of the 
world’s commerce; and that the Jews, at a future time, 
when they shall be restored to their own land, will be the 
great commercial agents of the earth. According to 
Prophecy, they are the destined leaders of the world in its 
onward career of industry. 

I am willing, now, to recognize the rights of the Jew 
Money Kings, and to treat them justly. But they have no 




CONCLUSION. 


327 


right to ruin the world, as they are now doing. Their 
present course of fraud and injustice should be stopped. 

They have no right to break down industry by com¬ 
mercial crises, in which they seek their own advantage in 
the ruin of multitudes of people.—They have no right to 
force down the price of all produce, to the ruin of farmers 
and merchants, for their own profit.—They have no right 
to start booms in towns, by forcing a temporary rapid 
growth; thereby making people believe the boomed towns 
destined to become large cities, and inducing removals 
and investments which ruin the lives of thousands.—They 
have no right to get, and hold permanently, property in 
all countries, when such holding of property will surely 
reduce to utter poverty the countries in which such pos¬ 
sessions lie, and make their people peasants. 

I protest against these evils, and propose a remedy for 
them. The proposed System of Industry is an effectual 
remedy. It is the only remedy. There is no other. If 
it shall be adopted now, it will save our country and the 
world from the most gigantic evil that has ever threatened 
the well-being of man. If not adopted now, it will be 
adopted in the future, when the Dragon shall be bound. 

There is no remedy for the evils now afflicting our 
country, except the Union of our people under the princi¬ 
ple of the Golden Rule. 

Our only hope is for us all to unite in a Patriot Union, 
whose members all agree to act toward each other in the 
spirit of mutual fairness and brotherly kindness—all agree 
to promote, each the interests of the others, equally with 
his own: the employer agreeing to give fair wages to his 
employees: all agreeing to eat the produce of the Patriot 
Farmer, and buy the goods of the Patriot manufacturer, 
and merchant, and grocer; and all agreeing that they will 
charge only fair prices, and that they will leave it for dis¬ 
interested parties to say what prices are fair and right. 


328 the remedy. 

This certainly is a noble principle of action. It stops all 
trickery and chicanery in trade. It makes business a bond 
of union and mutual benefit, as it ought to be. It enables 
each person to prosper through the common prosperity of 
all. It makes all mankind a band of brethren, united for 
their common protection and common benefit. 

It will have to conquer the selfish Jew Money Power, 
it is true, and stop its ravages upon industry, by the might 
of a great united people. But, this accomplished, it will 
give fair and equal terms of adjustment to the vanquished; 
and will establish a system of mutual fairness, that will 
continue down to the end of time and bless the world 
forever. 

The Patriot Union will be needed to endure all 
through the Millennium. Its establishment will inaugurate 
the principle of the Golden Rule in business, and will in¬ 
troduce a New Era in the progress of the human race. 

The Money Power ought to accept an arrangement that 
is so fair and just. If it will not, upon its head be the 
consequences!— 

But even though the Money Kings should antagonize 
all our measures of relief—still, the Patriot Union will 
do them no wrong: it will go steadfastly forward, mar¬ 
shaling our Patriot movement; and, with God’s help, it 
will save our country despite all opposition. 


May the LORD save our country and the world 

FROM THE RUIN THAT IS NOW IMPENDING—AND MAKE THE 
EVILS THAT ARE HANGING OVER OUR AGE THE OCCASION 
AND THE CAUSE OF A GRAND MOVEMENT THAT SHALL 
INTRODUCE A HIGHER Era IN THE HISTORY OF OUR 
RACE, AND MARSHAL MANKIND ONWARD INTO THE GLORY 

of that Better Age of universal Liberty, Equality 
and Fraternal Love.