Another Veteran Gone
A BAD CASE OF BANKERITIS The Bankers' Convention Prescribes Its Cures for the Ills oi the World —'Old Profiteers or New Prophets" Which Does The World Need? By ADAM COALDlGGEf? AFFLICTION...
...For instance, what would happen if the old world paid its debt in shoes...
...No use talking, we cannot afford to be paid in goods Now when it comes to being paid in gold, things are worse still...
...Now a reduction in wages is usually followed by a corresponding reduction in purchasing power, expressing itself in smaller sales and less work...
...The tariff will keep them out...
...What's that about gaining the world and losing his soul...
...Look out for number one...
...If you work for somebody, be satisfied with less then you earn...
...Another speaker before the banker conclave elucidated the fact that 80 per cent of crimes committed are committed by young men under 26 years of age and 96 per cent of these are mere boy...
...But for goodness sake," we hear, "how is Europe going to pay for our goods...
...Make 'em buy hut don't let 'em sell...
...Economic infantile Paralysis "Labor must understand our situation and help us to reduce coats...
...Bravely spoken...
...Why, every shoe factory would close down...
...In the second place, we have more gold than we know what to do with...
...Fiddle-sticks, nothing, for what would become of our home grown fiddle-sticks then...
...He started with nothing, now he ia worth millions...
...Do others before' they do you...
...Let 'em pay in securities...
...But not so, international trade as seen by bankers...
...The remedy is "men who will give personal service to lead th* boys to grow up right...
...And suppose they paid us in clothing or coal...
...In the first place Europe has no gold...
...Hurrah for the tariff...
...A* ordinarily understood, trade mean* trade, barter, exchange or swap...
...Why, then, the clothing factories and eoal mines would close down...
...And what .are our banker* teaching them if judged by the kind o f uplift handed out through bank windows...
...At the fair and reasonable rate of 6 per cent, we will have 1600,000,000 coming to us per annum until the tows come home to roost, Europe can pay that little live hundred million every year In goo—^ohj yes, I remember we can't take the eonfounded goods without—and to on— but they pay us in gol no, that won't do either—but wait now, I got It, they can pay th* interest in securities until we have all their securities and then they can start paying off th* .principal with more securities until the last blooming cent i* paid In securities...
...Start a bank account...
...Foolkiller, brother Dawes is out of town AILMENT Ii...
...Make them keep the cost of goods down to the European level...
...Don't take" in any wooden nickels...
...Tlje speaker does not say how Labor is to reduce costs but it ia safe to assume that the reduction is to be achieved through a voluntary reduc tion of wages on the part of Labor for that is about th* only way of reducing costs as seen by bankers...
...Then sell the goods to Europe but take care not to buy goods from Europe...
...that's the dope...
...Forget, it...
...Study hard, work hard, save hard, be hard, raise a sc-eere-Jaw, grow • stiff lip, learn to say no and you will be rich *ome day...
...AFFLICTION L Bankers- are undoubtedly una void able but why must they dabble in •very subject and then get off such infernal junk as was unloaded at recent bankers' convention in Chicago f "The United States," said one of their leading lights, "is a creditor nation...
...It will teal at home, no doubt...
...Well, here is the curriculum: Make money...
...W* are not anxious for goods because that would disrupt our domestic market...
...But don't worry...
...No, gold won't do.1 But securities...
...If you don't take it, someone els* will...
...Can all yon get...
...Moreover, what are our youngsters, anyhow, but little monkeys to whom we older monkeys teach our little bag of tricks in the name of education...
...A BAD CASE OF BANKERITIS The Bankers' Convention Prescribes Its Cures for the Ills oi the World —'Old Profiteers or New Prophets" Which Does The World Need...
...We do not want gold...
...Easy a* slipping off a bank, brother...
...Europe can give us ten billion dollars in the form of stocks, bonds and mortgages...
...So, why in the name of common sense take gold from the people who haven't got any and giye it to folks who are suffering from too much gold as it is...
...This will enable us to meet European prices and maintain our export trade," Translated in economics, thia mean*, pay less wages to our own workers...
...MALADY III...
...Therefore, the purchase of foreign securities is essential," Sure, Europe cannot pay us ten billion dollars and interest in goods without smashing eur whole industrial system...
...But why tell it to bankers...
...Then please compare the collection with the teaching and ideals of the great Master we profess to follow and realize what a hearted, brutish, money grabbing gross materialistic, soulless, stoneprogram we have lined out for our boys...
...Thus we will become the exclusive all-sailing, non-buying nation in the world...
...International trade, from their viewpoint, is 100 per cent export coupled with sero import, producing a balance o f Trade in our favor t o the equivalent of all we sell...
...Let the other fellow look out for himself...
...If you,work somebody, take mere ten you pay for...
...What our boys need, what we all need, what the whole world needs is a spiritual regeneration, a religion advanced from Golden Calf worship, a new set of social ideals, a new sense of service for the love of good, a scientific reorientation of the workings of the human mind, a clear understanding of the emotions and forces which move men individually as well as in the mass...
...Money doesn't stink Keep your eyes on the clock bef oj* going to work...
...Keep them off the clock while at work...
...Remember th* ace* and treat him holy...
...And pray, are money changers, note-shavers and coupon clippers . the kind of people from whom guidance may be sought in these fields...
...She ha* no gold and i f she had it, we wouldn't want it any more than we want her goods...
...But what they need to lead them on a higher path, to a loftier life, is not old ProfiteeM, but new Prophets...
...Make all you can...
...I* there anything in eur educatoinal trick bag wa failed to mention 1 If so pot it en the* pile with the rest...
...Somebody please page Mr...
...The world can pay us in three ways—with gold, with goods or by selling securities...
...Capital," the banker light proceeds, "must understand and help us to protect our market...
...But suppose they paid us in fiddle-sticks...
...Eureka...
Vol. 1 • November 1924 • No. 45
