out ever
knowing how they are being robbed of four-fifths of their earnings.
Manufacturers can understand how financial swindlers have them by the throat and are forcing them to pay interest on the money borrowed to pay the working man’s wages, after it has been explained to them. So can the merchant and the farmer understand it, but the laborer is so utterly under the control of the touts of the financiers that, as a rule, they are not even allowed to consider such a thing nor to accuse the financiers of defrauding the people by the interest collecting swindle. The manufacturer stands between the devil and the deep sea. He must borrow the money from the financier to pay the working men their wages and he must take out of their wages the amount that the financier charges him in interest on the money he borrows from them. So the wages of working men are reduced by the financiers who charge interest on the money borrowed by the manufacturer. But the working men blame the manufacturer for their low wages and do not realize that it is the financier who is the cause of it and not the manufacturer. In fact there are many different deductions from the working man’s wages caused by many different interests that have to be paid other than that paid by the manufacturing employer. Different interests are paid to the financier on money borrowed by mine owners that furnish iron and coal to the manufacturer. Interest must also be paid by railroads for the use of money borrowed from the financiers to haul the iron and coal to the manufacturer. Then there are all sorts of parts that the manufacturer must buy from other concerns who have all paid an interest on the money they borrowed from the financiers with which they can carry on their business. So by the time the manufacturer is ready to pay his employees their wages there has been deducted from them the interest that the financiers have charged to the iron and coal mine owners, the transportation companies and several parts makers, as well as the manufacturer who employs them. So the wage earners have lost four-fifths of what they earn through the payment of all those different interest charges to the financier. But still they blame their employer who has to sweat blood sometimes in trying to meet the payroll. They blame the manufacturer who gives them their jobs to earn wages in order to live while he tives in mortal fear of the financial swindler on one side and his employees on the other side. Since the year of 1929, the finanicers have taken from the American manufacturers more than Two Hundred Thousand factories. They have taken away or closed up more than Three Million stores belonging to American merchants. They have taken possession of more than Three Million farms from American farmers and more than Six Million homes from American working people. |