their publishing plants because the owners cannot meet payment of back
interest on loans for their buildings and machinery, with the ultimate intention of doing away with
the freedom of the press entirely
and then educating the people that
servitude and excessive burdens
are their future lot.
Editors and writers everywhere recognize these facts but are helpless to prevent it and can only hope that the Direct Credits program will be won soon, that they may assert themselves as their thoughtful minds dictate, without censor from the financiers overlords who now infest every editorial department. There are also many right-thinking professors who would like to be released from the evil influences of the financiers who rule the colleges by reason of the fact that they contribute the largest amounts toward the operating expenses of those institutions of upside down learning. Institutions that teach uneconomics for economics, physics without a foundation, guesswork physiology, kindergarten mechanics, false pretense histories, and law that stands for injustice instead of justice, and then train the biggest and meanest cheats to be the heroes of the people. After the financial slickers have gotten their agents into all of the key positions of all organizations, then they start to lambast all of them by arraying one against the other. They first start a so-called depression by withdrawing most of the money from circulation so that those who are indebted to them for back loans of money and credit cannot pay, and then take their security, which is usually from five to ten times more than the loans. Then they say to the manufacturers that have not yet lost their factories, “Cut your workingmen’s wages down or we will lend you no more money to do business with.” That places the manufacturer between two fires—Finance and Labor. He must either cut down wages or get no money to do business with or cut wages and have the ill will of the laboring class. So the manufacturer is cut to pieces, no matter which course he takes. If the manufacturer takes the first course and refuses to cut wages the financier withdraws his credit and lets him go into bankruptcy for non-payment of interest and taxes, and if he takes the second course and cuts wages the agents of the financiers incite the workmen to strike and ruin his business, thus throwing him into bankruptcy. So the financier finally gets the manufacturer’s factory by the interest collection swindle, no matter which course he pursues. Another slick method the financier has of taking away the manufacturer’s business—as well as merchants’ and other businesses —is to get a statement of assets and liabilities of firms in need and send around a man with money to invest, with the understanding that he will be put in the position of treasurer or manager, with power to decide how all money shall be expended. He puts, |