9
1
9
download/literature/watchtower/1910-17.pdf
../literature/watchtower/1910/17/1910-17-1.html
VOL.
XXXI
BROOKLYN,
N.
Y.,
SEPTEMBER
1,
1910
VIEWS
FROM
THE
WATCH
TOWER
No.
17
RICH
MAN
PROPHESIES
PANIC
A
multi-millionaire
sugar
manufacturer
of
California,
Mr.
Rudolph
Spreckles,
recently
returned
from
a
European
trip.
In
New
York
City
he
was
interviewed
by
a
newspaper
reporter
and
is
quoted
as
having
made
the
statements
below.
Without
endorsing
his
conclusions,
we
state
them.
His
large
wealth
gives
him
opportunity
for
information
respecting
monetary
affairs,
which
would
not
be
open
to
ordinary
men
of
small
cap
i
tal
and
lesser
influence.
vVe
quote
the
interview
from
the
"Rpringfield
Union"
of
July
31st,
as
follows:-
TERRIBLE
TIMES
BEFORE
US
"The
financial
control
of
the
country
is
today
centered
in
the
hands
of
two
great
interest'!.
\Vhen
the
two
men
in
control
of
these
interests
engage
in
battle
with
each
other
for
the
supremacy
a
revolution,
the
most
destructive
the
world
has
ever
seen,
will
follow-a
revolution
that
will
not
only
paralyze
or
wreck
many
of
our
great
industries
and
overthrow
unnum
bered
financial
institutions.
but
will
imperil
the
safety
of
the
Government
itself.
The
only
force
that
can
prevent
such
a
disaster
is
the
people
themselves,
whose
good
scnse
and
patriot
ism
on
many
occasions
heretoforc
have
rescucd
the
country
from
threatened
destruction.
"I
have
been
engaged
in
business
since
I
was
17,
and
have
noticed
year
by
year
a
gradual
rcduction
in
the
number
of
firms
handling-
large
industries
or
engaged
in
banking
until
todav
the
reduction
must
excite
alarm.
It
is
a
significant
comlilCntary
on
business
conditions
that
two
men
have
it
in
their
power
to
embarrass
the
United
States
Government.
The
concentration
of
wealth
is
the
great
evil
of
modern
times,
for
it
places
in
a
few
hands
the
power
to
precipitate
panics
and
control
legislation.
"Each
time
one
of
these
panics
has
occurred
certain
inter
ests
have
como
forward
to
relieve
the
situation
by
the
releasing
of
large
amounts
of
money.
If
men
can
break
a
panic
by
bring
ing
forward
their
hoarded
millions,
it
is
evident
they
can
cause
a
panic
by
withdrawing
from
circulation
a
few
hundred
mil
lions
of
dollars.
"From
observations
made
in
the
last
few
months
I
am
convinced
that
certain
great
financial
interests
now
are
perfecting
plans
for
the
precipitation
of
one
of
these
Imsinpss
upheavals
this
fall.
"The
panic
of
1(107
was
'organized,'
if
I
may
use
the
ter~,
for
the
purpose
of
discre<liting
Theodore
Roosevelt
and
hIS
administration.
The
panic
of
1910
is
being
hatched
to
furnish
material
for
the
approaching
political
campaigns.
Those
who
are
engineering
it
do
not
care
how
many
enterprises
may
be
wrecked,
how
many
men
may
be
thrown
out
of
employment,
~r
how
many
suieidrR
may
follow,
so
long
as
they
succeed
in
theIr
purposrs.
If
stocks
are
hammered
down
to
the
bottem,
they
stand
ready
to
make
millions
out
of
the
necessities
of
those
who
are
driven
to
sacrifice
their
holdings."
Spreckles
announcrd
that
he
proposed
to
devote
the
rest
of
his
life
to
the
reform
of
"conditions
that
already
are
intol
erable,"
in
order
to
head
off,
if
possible,
the
impending
revo
lution.
Asked
as
to
the
remedy
for
the
evils
complained
of,
he
said:-
"The
elimination
of
dishonesty
in
corporate
matters,
the
quickening
of
bURiness
conscience,
the
banishment
of
graft,
the
readjustment
of
capitalization
by
the
squeezing
out
of
water
and
the
adoption
of
the
Golden
Rule
as
a
fundamental
prin
ciple
of
business.
How
these
reforms
can
be
effected
is
the
im
portant
question
of
the
times.
What
is
needed
today
is
a
quickening
of
the
conscience
of
the
great
wealth
holders.
One
trouble
with
the
trusts
is
that
the
men
whose
capital
is
invested
in
them
are
not
sufficiently
concerned
to
take
an
active
interest
in
their
management.
So
long
as
they
continue
to
receive
large
dividends
they
wink
at
practises
in
a
corporation
that
they
would
not
countenance
in
their
own
personal
bU'liness."
Without
endorsing
Mr.
Spreckles'
prophecy
we
can
say
that
it
is
well-known
amongst
financial
institutions
of
the
country
that
all
our
banking
interests
are
practically
in
the
hands
of
a
very
few
wealthy
men.
It
is
not,
however.
generally
believed
that
the
interests
of
these
men
would
be
better
served
by
panics.
On
the
contrary,
the
general
estimation
of
business
people
is
that
thc'le
capitalists
are
conservative
and
that
in
seeking
to
guard
their
own
interests
against
catastrophe
they
are
really
protecting
others
from
financial
disaster.
Some
of
these
very
people
have
boasted
of
late
that
their
hold
upon
the
financial
situation
is
so
strong
that
panics
will
henceforth
be
impoRsihle.
Nevertheless
selfishness
and
ambition
are
the
foundation
of
the
present
strur·ture
of
society.
And
Mr.
Spreckles
may
be
right
in
his
a
%umption
of
a
great
financial
duel
between
our
financial
potentates.
It
was
just
such
a
duel
that
produced
our
last
panic.
One
combination
of
capitalists
attempted
to
take
by
the
throat
another
combination,
but
failed
and
was
crushed.
The
public
was
not
made
to
suffer
more
than
was
necessary
in
the
matter;
but,
so
powerful
were
the
antagonists,
that
the
entire
financial
world
received
a
shock
which
brought
loss
to
many
far
removed
from
the
principals
and
the
scene
of
their
conflict.
But
aside
from
1\1r.
Spreckles'
prophecy
respecting
a
panic
this
year
our
readers
know
from
the
STUDIES
IN
THE
SCRIP
TURES
to
expect
ere
long
the
fulfillment
of
the
great
Redeemer's
words,
"There
shall
be
a
time
of
trouble
such
as
never
was
since
there
was
a
nation-no,
nor
ever
Rhall
be
after."
(Dan.
12:
1;
Matt.
24:21)
That
awful
trouble,
however,
we
do
not
expect
before
October,
1914.
\Vhatever
may
come
in
the
interim
will
be
but
the
rumblings
preceding
the
great
climacteric
shock,
before
which
will
fall
all
earthly
institutions;
as
St.
Paul
de
clares,
Everything
that
can
be
shaken
will
be
shakf'n.
And
the
only
thing
that
cannot
be
shaken
will
be
the
kingdom
which
God's
faithful
onrs
will
receive
about
that
time.-Heb.
12:
27,28.
Meantime
we
advise
that
no
attempt
be
made
by
any
of
our
readers
to
alarm
the
world.
Humanity
will
bl'
alarmed
enough
in
due
time.
Rather
it
should
be
our
aim
to
console.
to
com
fort,
to
bind
up
the
broken-hearte<l,
to
pour
in
the
oil
and
the
wine,
to
show
the
good
things
which
God
has
in
reservation
for
the
saints
and
the
restitution
blessings
which
then
will
begin
to
be
dispensrd
to
Israel
and
to
all
the
families
of
the
earth
through
Israel.
1I1r.
Sprel'kles
is
to
be
aumired
for
his
courage.
He
fully
demonstrated
it
some
years
ago
in
his
attack
upon
financial
corruption
and
graft
in
the
politics
of
San
"Francisco.
The
above
interview
shows
the
man's
fearless
courage
as
he
looks
into
the
future.
He
hopeR
to
be
able
to
stem
the
tide
of
polit
ical
amI
financial
corruption.
He
hopes
for
the
l'stahlishment
of
the
Golden
Rule
in
business
and
in
politics.
\Ve
admire
his
courage
and
hopefulneRs,
even
while
we
know
that
his
expecta
tions
will
all
fail.
The
world
is
not
getting
nearer
to
the
Golden
Rule.
Our
great
institutions
of
learning
are
turning
out
infidels
by
the
thousands-turning
them
into
influential
and
predominant
strata
alJd
currents
of
life-financial,
po
litical
and
religious.
They
fear
neither
God
nor
the
devil.
They
scorn
the
Biblc
and
its
precepts
as
"old
wives'
fablcs."
They
have
a
standing
of
honor
and
a
business
intrgrity,
but
it
is
not
of
the
Golden
Rule
kind.
It
is
of
the
kind
that
merely
keeps
within
the
lines
of
lpgal
requirement,
and
not
always
that,
aR
was
evidenl'ed
hy
the
court
exposures
of
illegalities
in
connection
with
some
of
the
great
insuranl'p
l'ompanies
a
fpw
years
ago
and
railroad
mismanagemf'nt
and
land
frauds
and
bribery
hy
bankers,
etc.
Nor
should
we
he
harsh
in
our
judgml'nt
of
millionairrs
as
a
wholl',
nor
eVf'n
of
those
who
havl'
been
l'onvietl'd
of
finaneial
briberies.
Rather
our
modl'ration
should
be
known
to
all
men.
As
peacemakers
we
should
sympathetically
point
out
on
proper
occasions
that
much
of
the
difficulty
arises
from
the
fact
that
individual
rrspoll'3ibility
is
oVl'rwhelmed
by
corporation
asso
ciations-by
the
seeming
necessity
of
an
unlawful
act
to
accom
plish
an
end
believed
to
he
wise,
hl'nevoll'nt
or
just.
In
other
words,
we
are
living
in
the
day
controlled
by
systems.
of
which
individuals
are
merely
atoms,
evrn
when
thl'Y
occupy
influen
tial
positions
in
the
systems.
How
glad
we
are
that,
as
Bible
Students,
we
are
obtaining
from
the
divine
'Nord
"meat
in
due
season,"
which
not
only
nourishes
us,
but
makes
us
strong
in
thp
Lord
to
know
and
to
do
his
will
and
to
be
assistful
to
all
with
whom
we
are
in
con
tact.
Let
us
not
forget
that
if
we
belong
to
thl'
Lord
we
are
of
the
"royal
pripsthood"
and
that
now
is
the
time,
in
the
dawlJilJg
of
thf'
gn'at
antit,\llir-al
.TulJilp('.
wllt'n
:111
the
pri<·,.,ts
are
to
blow
upon
the
Rilver
trumpets.
making
known
to
the
world
the
riphes
of
God's
gral'e
about
to
be
rpvealp(l
in
Mes
siah's
.kingdom,
for
whi
...
h
'ltill
we
pray,
"Thy
kinguom
COIlll';
thy
WIll
be
donl'
on
earth
as
it
is
done
in
heaven."
SECRETARY
KNOX
SEES
MILLENNIUM
P.
C.
Knox,
Secretary
of
State
in
Prl'sident
Taft's
Cabinrt,
in
l'oncluding
a
stirring
addresR
before
the
graduating
studentR
of
the
University
of
Pennsylvania,
speaks
aR
follows:
"\Ve
have
reached
a
point
where
it
is
evident
that
the
future
holds
in
store
a
time
whpn
wars
shall
cl'ase;
when
tl!('
nations
of
the
world
shall
realize
a
federation
as
rpal
and
vital
as
that
now
subsisting
between
thl'
component
parts
of
a
single
state;
wllf'n
by
delilH'ratf'
intNnati"lwl
conjllTwtion
tlIp
strung
shall
universally
help
the
weak,
and
when
the
corporate
righteous
ness
of
the
world
shall
compel
unrighteousness
to
disappear
and
shall
destroy
the
habitations
of
cruelty
still
lingering
in
[
4671]
(275
276)
Vou, XXXI BROOKLYN, N. Y., SEPTEMBER 1, 1910 No. 17 VIEWS FROM THE WATCH TOWER RICH MAN PROPHESIES PANIC A multi-millionaire sugar manufacturer of California, Mr. Rudolph Spreckles, recently returned from a European trip. In New York City he was interviewed by a newspaper reporter and is quoted as having made the statements below. Without endorsing his conclusions, we state them. His large wealth gives him opportunity for information respecting monetary affairs, which would not be open to ordinary men of small capital and lesser influence. We quote the interview from the “Springfield Union” of July 31st, as follows:— TERRIBLE TIMES BEFORE US “The financial control of the country is today centered in the hands of two great interests. When the two men in control of these interests engage in battle with each other for the supremacy a revolution, the most destructive the world has ever seen, will follow—a revolution that will not only paralyze or wreck many of our great industries and overthrow unnumbered financial institutions, but will imperil the safety of the Government itself. The only force that can prevent such a disaster is the people themselves, whose good sense and patriotism on many occasions heretofore have reseued the country from threatened destruction. “I have been engaged in business since I was 17, and have noticed year by year a gradual reduction in the number of firms handling large industries or engaged in banking until today the reduction must excite alarm. It is a significant commentary on business conditions that two men have it in their power to embarrass the United States Government. The concentration of wealth is the great evil of modern times, for it places in a few hands the power to precipitate panics and control legislation. “Hach time one of these panics has occurred certain interests have come forward to relieve the situation by the releasing of large amounts of money. If men can break a panic by bringing forward their hoarded millions, it is evident they can cause a panic by withdrawing from circulation a few hundred millions of dollars. From observations made in the last few months I am convineed that certain great financia] interests now are perfecting plans for the precipitation of one of these business upheavals this fall. “The panic of 1907 was ‘organized,’ if I may use the term, for the purpose of discrediting Theodore Roosevelt and his administration, The panic of 1910 is being hatched to furnish material for the approaching political campaigns. Those who are engincering it do not care how many enterprises may be wrecked, how many men may be thrown out of employment, or how many suicides may follow, so long as they succeed in their purposes, If stocks are hammered down to the bottem, they stand ready to make millions out of the necessities of those who are driven to sacrifice their holdings.” Spreckles announced that he proposed to devote the rest of his life to the reform of “conditions that already are intolerable,” in order to head off, if possible, the impending revolution, Asked as to the remedy for the evils complained of, he said:— “The elimination of dishonesty in corporate matters, the quickening of business conscience, the banishment of graft, the readjustment of capitalization by the squeezing out of water and the adoption of the Golden Rule as a fundamental principle of business. How these reforms can be effected is the important question of the times. What is needed today is 4 quickening of the conscience of the great wealth holders. One trouble with the trusts is that the men whose capital is invested in them are not sufficiently concerned to take an active interest in their management. So long ag they continue to receive large dividends they wink at practises in a corporation that they would not countenance in their own personal business.” Without endorsing Mr. Spreckles’ prophecy we can say that it is well-known amongst financial institutions of the country that all our banking interests are practically in the hands of a very few wealthy men. It is not, however, generally believed that the interests of these men would be better served by panics. On the contrary, the general estimation of business people is that these capitalists are conservative and that in seeking to guard their own interests against catastrophe they are really protecting others from financial disaster. Some of these very people have boasted of late that their hold upon the financial situation is so strong that panics will henceforth be impossible. Nevertheless selfishness and ambition are the foundation of the present structure of society. And Mr. Spreckles may be right in his assumption of a great financial duel between our financial potentates. It was just such a duel that produced our last panic. One combination of capitalists attempted to [4671] take by the throat another combination, but failed and was crushed. The public was not made to suffer more than was necessary in the matter; but, so powerful were the antagonists, that the entire financial world received a shock which brought loss to many far removed from the principals and the scene of their conflict. But aside from Mr. Spreckles’ prophecy respecting a panic this year our readers know from the STupIES IN THE SCRIPTURES to expect ere long the fulfillment of the great Redeemer’s words, ‘There shall be a time of trouble such as never was since there was a nation—no, nor ever shall be after.” (Dan, 12:1; Matt. 24:21) That awful trouble, however, we do not expect before October, 1914. Whatever may come in the interim will be but the rumblings preceding the great climacteric shock, before which will fall all earthly institutions; as St. Paul declares, Everything that can be shaken will be shaken. And the only thing that cannot be shaken will be the kingdom which God’s faithful ones will receive about that time.—Heb. 12: 27, 28. Meantime we advise that no attempt be made by any of our readers to alarm the world. Humanity will be alarmed enough in due time. Rather it should be our aim to console, to comfort, to bind up the broken-hearted, to pour in the oil and the wine, to show the good things which God has in reservation for the saints and the restitution blessings which then will begin to be dispensed to Israel and to all the families of the earth through Israel. Mr. Spreckles is to be admired for his courage. He fully demonstrated it some years ago in his attack upon financial corruption and graft in the polities of San Francisco. The above interview shows the man’s fearless courage as he looks into the future. He hopes to be able to stem the tide of political and financial] corruption. He hopes for the establishment of the Golden Rule in business and in politics. We admire his courage and hopefulness, even while we know that his expectations will all fail. The world is not getting nearer to the Golden Rule. Our great institutions of learning are turning out infidels by the thousands—turning them into influential and predominant strata aud currents of life—financvial, political and religious. They fear neither God nor the devil. They scorn the Bible and its precepts as ‘old wives’ fables.” They have a standing of honor and a business integrity, but it is not of the Golden Rule kind. It is of the kind that merely keeps within the lines of legal requirement, and not always that, as was evidenced by the court exposures of illegalities in connection with some of the great insurance companies a few years ago and railroad mismanagement and land frauds and bribery by bankers, etc. Nor should we be harsh in our judgment of millionaires as a whole, nor even of those who have been convicted of financial briberies. Rather our moderation should be known to all men. As peacemakers we should sympathetically point out on proper occasions that much of the difficulty arises from the fact that individual responsibility is overwhelmed by corporation associations—by the seeming necessity of an unlawful act to aceomplish an end believed to he wise, benevolent or just. In other words, we are living in the day controlled by systems, of which individuals are merely atoms, even when they occupy influential positions in the systems. How glad we are that, as Bible Students, we are obtaining from the divine Word “meat in due season,” which not only nourishes us, but makes us strong in the Lord to know and to do his will and to be assistful to all with whom we are in contact. Let us not forget that if we belong to the Lord we are of the “royal priesthood” and that now is the time. in the dawning of the great antitypical Jubilee, when all the priests are to blow upon the silver trumpets, making known to the world the riches of God’s grace about to be revealed in Messiah’s kingdom, for which still we pray, “Thy kingdom come; thy will be done on earth as it is done in heaven.” SECRETARY KNOX SEES MILLENNIUM P. C. Knox, Secretary of State in President Taft’s Cabinet, in concluding a stirring address before the graduating students of the University of Pennsylvania, speaks as follows: “We have reached a point where it is evident that the future holds in store a time when wars shall cease; when the nations of the world shall realize a federation as real and vital as that now subsisting between the component parts of a single state; when by deliberate international conjunction the strong shall universally help the weak, and when the corporate righteousness of the world shall compel unrighteousness to disappear and shall destroy the habitations of cruelty still lingering in (275 276)
To enhance your experience on our website, we use cookies and similar technologies. Some cookies are essential for the core functionality of our site and cannot be declined. You can choose to accept or decline additional cookies. We want to assure you that none of this data will be sold or used for marketing purposes. You can adjust your preferences at any time by accessing the Privacy Settings from the footer of the page. For more information, please refer to our
Privacy Policy
Terms of Use
.
