,A ,LECTURE ON ,9DU/RIAL & ,F9ANCIAL ,PROBLEMS 

#ahha 

,PEOPLE 3 

,AU?OR 3 ,JULIET ,H4 ,SEV]ANCE 

,TAGS 3 NET PROCE$S ( LABOR1 CR$IT ( ! C\NTRY1 GOLD & SILV]1 POLITICAL & 9DU/RIAL1 NONPRODUCTIVE CLASSES1 PUBLIC DEBT1 9DU/RIAL EVILS1 MILLION DOLL>S1 OP5 W>F>E1 COMMON 9T]E/S4 

,TEXT 3 

  

,PHOTO BY ,GREG ,WOLF1,C,C ,B,Y ,LIC5SE ,FELL[ ,LABOR]S1 ,BRO!RS1 ,SI/]S1 ( ! ,GREAT ,HUMAN ,FAMILY3 

',I ,A,P,P,E,> BE=E Y\ NOT AS A SILV] TONGU$ SPEAK] TO TICKLE Y\R FANCIES1 PLEASE Y\R CONCEITS1 OR TO CALL =? Y\R APPLAUSE BY L(TY FLI<TS ( ORATORY2 BUT AS A COOL & DELIB]ATE SYMPA?IZ] 9 Y\R LABORS1 SUFF]+S1 HOPES & FE>S2 AS ONE :O = YE>S HAS /UDI$ TO F9D \T :AT ! MATT] IS 9 ?IS FAVOR$ L&1 ?AT POSSESSES ALL ! ELEM5TS ( PROSP]ITY ( ALL O!R C\NTRIES 9 ! WORLD2 ?AT !RE CAN BE AT ! SAME TIME CREAK+ W>EH\SES1 BURD5$ BY ! SURPLUS PRODUCTS1 & ALSO MILLIONS />V+4 ,MO!RS AGONIZ+ = !IR *ILDR5 :O CRY = BREAD !Y HAVE NOT TO GIVE2 FA!RS DESP]ATE & READY = ALMO/ ANY?+ ?AT PROMISES R$RESS4 

,I COME TO REASON )1 P]*ANCE TEA* Y\ BY SPEAK+ PLA9 TRU? 9 PLA9] LANGUAGE1 TO %[ Y\ ! FUNDAM5TAL PR9CIPLES ( 9DU/RY2 H[ ?OSE :OM Y\ HAVE APPO9T$ TO GOV]NM5T1 HAVE PRO/ITUT$ IT2 H[ ONE AFT] ANO!R1 ! NONPRODUCTIVE CLASSES HAVE SPRUNG 9TO EXI/5CE TO LIVE UPON Y\R TOIL1 UND] ! PRET5SE ( CONDUCT+ BUS9ESS SY/EMS 9 Y\R 9T]E/S2 --- TO %[ :AT >E Y\R RI<TS 9 EXI/+ ?+S & ! V>I\S /EPS BY :I* Y\ MAY ASSUME !M )\T VIOL5CE4 

,! FIR/ /EP ?AT %\LD BE TAK51 ! FIR/ QUE/ION TO BE UND]/OOD BY ?OSE :O W\LD 9TELLIG5TLY RI<T A WRONG1 IS TO LE>N FROM :AT ! WRONG HAS COME2 9 :AT IT HAD ITS ORIG92 S9CE IF ! CAUSE BE KN[N A REM$Y MAY !N BE F\ND4 ,IF WE :O DEAL 9 9DU/RIAL REM$IES1 ?9K ONLY ( ! EFFECTS WE SEE2 IF WE SIMPLY TAKE ! PA9S & A*ES WE SUFF]1 & TRY TO ALLEVIATE !M BY PALLIATIVES )\T 9QUIRY :Y !Y COME1 WE MAY EV5 AGGRAVATE ! REAL MALADY1 AS !Y DO :O DEAL 9 PILLS & P[D]S4 ,IF1 H[EV]1 WE CAN GET BACK TO ! F\NTA9 HEAD & DRY ?AT UP1 !N ! /REAMS ( SUFF]+ ?AT FL[ FROM IT WILL CEASE4 

,!RE=E IF WE CAN F9D & CURE ! CAUSE ( ! D>K %AD[ ?AT HANGS LIKE A PALL ABOVE ! 9DU/RIES1 SUBSEQU5T EV5TS ?AT MI<T >ISE W\LD HAVE NO BASIS FROM :I* TO 9AUGURATE ANO!R FLOOD ( WRONGS4 ,9 O!R WORDS1 HAD !RE BE5 NO 9DU/RIAL EVILS1 AS A BEG9N+1 !RE C\LD HAVE BE5 NO 9DU/RIAL ILLS FOLL[+1 AS EFFECTS4 ,FUNDAM5TAL ]RORS1 !N1 >E :AT WE SEEK TO LE>N AB\T1 ?OSE ]RORS 9 :I* ! WRONGS FROM :I* WE SUFF] HAD !IR ORIG94 

,IT W]E IMPOSSIBLE ! EVILS :I* FALL HEAVILY ON T5 \T ( =TY MILLIONS ( ! PEOPLE ( A S+LE C\NTRY1 SIMULTANE\SLY1 C\LD HAVE ORIG9AT$ 9 ANY REC5T CAUSE2 ?IS MU/ BE S\<T 9 SOME DEEP SEAT$ ]RORS 9 ! 9DU/RIAL SY/EM4 

,! EVIL FROM :I* \R SUFF]+S COME1 IS NOT ?AT !RE IS NOT 5\< BY :I* ! NE$S ( ALL MI<T BE SUPPLI$ 2 BUT ?AT :ILE !RE IS MORE ?AN C\LD BE CONSUM$1 ! DAILY LABOR]S & !IR FAMILIES >E H\SELESS1 NAK$1 HUNGRY2-IS NOT UND]-PRODUCTION ( :AT IS REQUIR$1 BUT UNEQUAL DI/RIBUTION ( :AT WE HAVE4 ,& :Y IS ?IS8 ,BECAUSE ! /RONG1 HAVE ! UNQUE/ION$ P[]1 LEGALLY1 TO OPPRESS ! WEAK FROM :ATEV] CAUSE4 ,! FEW :O HAVE ! PECULI> TAL5T TO AGGREGATE ! RESULT ( LABOR1 SECURE POSSESSION ( ! NET PRODUCTS ( ! 9DU/RY ( ! MANY & RE/RA9 !M FROM !IR USE4 ,HAD COMPETITION 9 ,GOV]NM5T BE5 CONF9$ TO ! 9DIVIDUAL PLANE AS IT HAS BE5 9 9DU/RY1 !RE C\LD HAVE BE5 NO GOV]NM5T ( PEOPLE 9 ANY C\NTRY4 

,9DU/RIALLY EA* P]SON COMPETES ) EV]Y O!R = SUP]IORITY1 ! FREQU5T RESULT ( :I* IS ! COMPULSORY IDL5ESS ( />V+ MILLIONS4 

,!RE >E C]TA9 G5]AL PR9CIPLES ?AT LIE AT ! BASE ( ALL RELATIONS BETWE5 PEOPLES 9DIVIDUAL & COLLECTIVE1 :I* IF OBS]V$ WILL GIVE PEACE & H>MONY1 & 9 C\NTRIES MOD]ATELY PRODUCTIVE1 PL5TY & PROSP]ITY2 BUT1 IGNOR$1 9 H>MONY & OP5 W>F>E4 ,! CONDITIONS N[1 9DU/RIALLY1 BORD] ON OP5 W>F>E4 ,OR1 IF !SE PR9CIPLES BE REG>D$ 9 SOME ( ! DEP>TM5TS ( SOCIETY1 & IGNOR$ 9 O!RS1 !N ?OSE 9 :I* !Y >E OBS]V$ WILL EVOLVE TO HI<] PLANES1 :ILE ?OSE 9 :I* !Y >E IGNOR$ WILL REVOLVE 9 ! HOMOG5E\S /ATE1 AS 9DU/RY IS DO+ & EV] HAS DONE4 

,! CAUSES ( 9DU/RIAL EVILS1 !N1 >E AS OLD AS SOCIETY4 ,TO F9D !IR 9ITIATIVE SE>* MU/ BE MADE 9 ITS RUDIM5TAL /ATE1 :5 ALL RELATIONS W]E ON A COMMON PLANE4 

,9 PREHI/ORIC ]AS1 !RE >E EVID5CES ( A TIME :5 !RE W]E NO AGGREGATIONS ( 9DIVIDUALS L>G] ?AN ! FAMILY2 :5 ! FAMILY WAS A K+DOM---A GOV]NM5T )9 ITSELF1 ! FA!R BE+ ! >BITR>Y HEAD4 ,!N NO ONE C\LD QUE/ION HIM SAVE BY REBELLION4 ,9 ?IS CONDITION ! WEAK] FAMILIES W]E PREY = ! /RONG]1 & W]E R$UC$ TO SLAV]Y4 ,TO PROTECT !MSELVES1 SEV]AL FAMILIES W\LD COMB9E1 &1 9 TURN BECOM+ /RONG ALSO BECOME OPPRESSORS4 ,!SE FAMILIES =M+ TRIBES W]E ! FIR/ DEP>TURES FROM ! HOMOG5E\S /ATE POLITICALLY4 ,F>!R ON TRIBES COALESC$ & BUILT CITIES :I* EXT5D$ !IR RULE OV] ! 9T]V5+ C\NTRIES---! SECOND ORD] ( GOV]NM5TAL EVOLUTION4 ,NEXT1 CITIES UNIT$ & NATIONS W]E EVOLV$ AS ! ?IRD ORD]4 

,F9ALLY UND] ,CES>1 ,ROME UNIT$ ALL ! KN[N NATIONS ( ! WORLD1 & 9 ! >BITR>Y SWAY BY ONE MAN1 ( !IR DE/9IES1 CULM9AT$ ?AT CYCLE ( EVOLUTION4 

,!N ! R$I/RIBUTION ( ! AGGREGAT$ P[] BEGAN4 ,?R\< A NUMB] ( K+S & RUL]S ABSOLUTE1 D[NW>D ?R\< LIMIT$ & CON/ITUTIONAL ,MON>*IES1 ,DICTATOR%IPS & ,REPUBLICS IT DESC5D$ UNTIL 9 ?IS C\NTRY1 EA* P]SON IS SUPPOS$ TO RULE HIMSELF ?R\< A COMMON HEAD1 :O1 9 !ORY1 IS ! S]VANT ( ! :OLE4 ,%\LD ?IS CYCLE ( DEVELOPM5T CONT9UE ! WORLD WILL BECOME AN ,UNIV]SAL ,REPUBLIC ) A S+LE REPRES5TATIVE AT ITS HEAD4 ,!N ! OPPOSITE EXTREME TO ,CES> ( GOV]NM5TAL EVOLUTION W\LD CULM9ATE ! SECOND CYCLE4 ,BUT :AT HAS BE5 DONE = ! 9DU/RIES DUR+ ?OSE VA/ P]IODS 9 :I* ! POLITICAL RELATIONS ( ! PEOPLE HAVE EVOLV$ SO F> FROM ! HOMOG5E\S8 ,NO?+6 ,!Y >E /ILL 9 ! CONDITION 9 :I* ! PEOPLE W]E1 POLITICALLY1 9 PREHI/ORIC TIME4 ,POLITICALLY ! ISOLAT$ FAMILY IS M]G$ 9 ! GREAT] ONE--! NATION2 BUT 9DU/RIALLY IT IS /ILL LEFT TO TAKE C>E ( ITSELF1 & :5 FAIL+ FROM ANY WEAKNESS OR 9ABILITY TO DO SO WELL1 FALLS A PREY TO ! /RONG4 

,A PEOPLE LIV+1 9 SOME RESPECTS UPON A HI<LY DEVELOP$ PLANE & 9 O!RS ON ! RUDIM5TAL1 OSCILLATE BETWE5 ! CONDITIONS ( ! TWO4 ,H>MONY & PROSP]ITY EXI/ P]MAN5TLY ONLY AMONG A PEOPLE :OSE DEVELOPM5TS >E 9 ALL RESPECTS UPON A COMMON PLANE4 ,!Y CANNOT BE 5LI<T5$ POLITICALLY & SAVAGE 9DU/RIALLY1 & AVOID A CLA%+ ( ! 9T]E/S ( ! TWO4 ,AS A NATION WE >E POLITICALLY 5LI<T5$1 HAVE A HI< ORD] ( GOV]NM5TS1 BUT 9DU/RIALLY WE >E SAVAGE /ILL1--EA* FAMILY OR 9DIVIDUAL CONT5DS ) EV]Y O!R = SUP]IORITY AS !Y DID POLITICALLY 9 ! 9FANCY ( ! RACE2 & !SE OPPOS+ 9T]E/S CLA%1 & KEEP ! POLITICAL & 9DU/RIAL TIDES ALT]NATELY ON ! EBB & FLOOD4 

,A GOOD ILLU/RATION ( ! WORK+ ( !SE TWO CONFLICT+ SY/EMS WAS SE5 9 ! LATE W>1 :I* WAS ! IMM$IATE CAUSE ( ! LATE DEPRESS$ 9DU/RIAL CONDITION4 ,:5 ! GOV]NM5T CALL$ ON LABOR TO VOLUNTE] TO CREATE AN >MY1 IT %\LD ALSO HAVE CALL$ ON WEAL? TO VOLUNTE] = ITS SUPPORT4 ,:5 VOLUNTE]+ FAIL$ TO KEEP ! >MY TO ! PROP] /&>D & DRAFT+ WAS RE- SORT$ TO1 SO %\LD ITS SUPPORT ALSO HAVE BE5 DRAFT$1 PROVID$ CONTRIBUTIONS W]E 9SUFFICI5T4 ,! REASON ?IS WAS NOT DONE1 IS1 BECAUSE POLITICALLY1 WE W]E A NATIONAL UNIT1 HAD COMMON 9T]E/S2 :ILE 9DU/RIALLY WE W]E M]E SQUADS ( FAMILIES )\T ANY COMMON 9T]E/ OR BOND ( UNITY4 ,AS A CONSEQU5CE ! 9DU/RIES W]E SADDL$ ) A DEBT ( ?REE BILLIONS DOLL>S4 

,! EFFECT WAS ?IS2 IT ADD$ SO MU* TO ! PUBLIC DEBT ?AT ! BURD5 ON 9DU/RY REQUIR$ TO PAY ! 9T]E/1 BECAME UNBE>ABLE4 ,BE=E ! W> ! 9T]E/-BE>+ DEBT WAS NOT LESS ?AN N9E BILLIONS1 DOLL>S MADE UP ( AB\T F\R BILLIONS ( ,NATIONAL1 ,/ATE1 ,C\NTY1 ,MUNICIPAL & ,CORPORATE ,BONDS & ( AB\T FIVE BILLIONS 9DIVIDUAL NOTES1 9T]E/ BE>+ DEBTS1 & DIVID5D PAY+ /OCKS4 ,IT MAY SEEM AT FIR/ ?\<T ?AT ,I HAVE SET ! 9DIVIDUAL 9DEBT$NESS TOO HI<2 BUT WAIT TILL ,I CALL ATT5TION TO A FACT EXI/+ 9 A S+LE C\NTY 9 ,ILL9OIS & ! D\BT WILL VANI%4 ,! SUM IS RA!R BEL[ ?AN ABOVE ! REALITY4 ,! 9DU/RIES C\LD PAY ! 9T]E/ ON EV5 ?IS VA/ SUM1 ) GOLD AT P>1 )\T S]I\S 9CONV5I5CE1 BUT :5 ?REE BILLIONS MORE W]E ADD$1 ) ! PREMIUM ON GOLD AT AN 5ORM\S PRICE1 PRODUCTION BE+ GREATLY R$UC$ BY REASON ( ! W>1 ! BURD5 MADE !M TREMBLE4 ,?9K ( IT6 TWELVE BILLIONS DEBT6 ,SEV5 HUNDR$ & TW5TY MILLIONS DOLL>S ANNUAL 9T]E/4 ,& TO ?IS %\LD BE ADD$ ! PREMIUM PAID = GOLD1 DIVID5DS ON /OCKS1 DISC\NTS ON NOTES & BONDS1 & ! RATES ( 9T]E/ EXCE$+ SIX P]C5T1 SWELL+ ! AGGREGATE TO ! 5ORM\S SUM ( ONE BILLION1 ?REE HUNDR$ MILLIONS ANNUALLY DEM&$ AS TRIBUTE TO NON-PRODUC+ CLASSES2 OR NE>LY SIX HUNDR$ MILLIONS MORE ?AN ! ANNUAL 9CREASE ( ! AGGREGATE WEAL?1 9 SEASONS :5 LABOR IS L>GELY UNEMPLOY$1 AS = SEV]AL YE>S PA/4 ,:AT C\LD BE EXPECT$ SAVE BANKRUPTCY ( ! 9DU/RIES8 ,NO?+6 ,& IT HAS COME UPON US FE>FULLY2 BUT NOT HALF SO MU* AS IT WILL IF ! PA/ C\RSE BE /ILL P]SI/$ 9 BY ! MONEY K+S4 

,& IT HAS COME AB\T 9 ?IS WAY3 ,SO LONG AS ! ONE BILLION ?REE HUNDR$ MILLION 9T]E/ WAS PROMPTLY PAID1 ! USUR]S LOAN$ IT BACK AGA9 TO ! PRODUC]S1 & !RE WAS NO DE>? ( MONEY2 BUT :5 ! PRESSURE CAME1 :5 JAY ,COOKE'S SPECULATIVE ,NOR!RN ,PACIFIC BUBBLE BUR/1 CONFID5CE BEGAN TO WEAK51 & ! USUR]S1 9/EAD ( LOAN+ !IR RECEIPTS FROM 9T]E/1 HO>D$ UP ! ONE BILLION ?REE HUNDR$ MILLION ?AT WAS PAID !M4 ,! 9DU/RIES DEPRIV$ 9 ?IS WAY & BY ! CONTRACTION ( ! CURR5CY1 ( ! CIRCULAT+ M$IUM COLLAPS$2 & ! SAD SPECTACLE ( MILLIONS UNEMPLOY$ WAS BE=E ! WORLD--LABOR]S :O SEE ! PRODUCTS ( !IR TOIL FILL+ ! W>EH\SES ( ! RI*1 :O LIVE 9 LUXURI\S' IDL5ESS1 & SMIL+LY EXT5D !IR MORTGAGES OV] ! REMA9+ WEAL?1 AT ! RATE ( SIX HUNDR$ MILLION ANNUALLY1 :ILE ?OSE :O CREAT$ IT >E />V+4 

,IT MAY BE ASK$ 3 H[ CAN !SE OBLIGATIONS BE AVOID$1 & W\LD !IR AVOIDANCE BE LEGITIMATE8 ,!RE >E BUT TWO ALT]NATIVES2 TO RID ! 9DU/RIES ( !IR BURD5S1 OR ELSE EXT5D ! PRES5T SUFF]+4 ,! G5]AL BUS9ESS ( A C\NTRY IS GOV]N$ BY ! SAME PR9CIPLES AS ?AT ( ! 9DIVIDUAL4 ,IF A P]SON DOES BUS9ESS ON BORR[$ CAPITAL & PAYS 9T]E/ TO D\BLE ! AM\NT ( HIS NET PR(ITS1 GIV+ NOTES SECUR$ BY LI5S UPON HIS CAPITAL1 HE WILL EV5TUALLY CONSUME HIS CAPITAL4 

,N[ ?IS IS JU/ :AT WE AS A NATION >E DO+4 ,WE PAY SIX HUNDR$ MILLIONS 9 CA% OR BONDS---MORE ?AN ! NET PR(ITS ( ! C\NTRY'S 9DU/RY ANNUALLY1 AS 9T]E/ & DIVID5DS TO NON-PRODUC]S4 ,SO LONG AS ?IS GOES ON1 SO LONG ,WILL ! DI/RESS 9CREASE4 

,!RE MAY BE TEMPOR>Y ALLEVIATIONS1 AS AT ! PRES5T TIME1 BUT !Y WILL NOT LA/4 ,A RADICAL CURE IS DEM&$2 & ! DEM& IS BE+ MADE 9 PITE\S TONES FROM EV]Y HUT & HOVEL ( ! C\NTRY2 FROM EV]Y DOVE & G>RET ( ! CITY2 BUT !SE WILL SOON BE *ANG$ TO TONES ?AT WILL NOT BROOK DELAY4 ,LET ?OSE TO :OM ! APPEAL IS MADE BEW>E4 

,! CAUSE ( 9DU/RIAL EVILS1 !N1 LIES 9 ! CONFLICT 9AUGURAT$ BY 5GRAFT+ A HI<LY DEVELOP$ POLITICAL SY/EM UPON AN 9DU/RIAL SY/EM NOT YET ADVANC$ BEYOND ! RUDIM5TAL PLANE2 & ! CURE MU/ BE TO RAISE ! 9DU/RIES TO ! PLANE UPON :I* WE /& POLITICALLY2 ?AT !RE MAY BE H>MONY 9/EAD ( CON/ANT CONFLICT BETWE5 POLITICAL & 9DU/RIAL 9T]E/S1 -- 9DE$ POLITICS %\LD BE ABOLI%$ OR M]G$ 9 9DU/RY4 

,N[ HAV+ SE5 ! CAUSE ( ! EVILS ?AT REQUIRE A REM$Y1 LET US EXAM9E ! L9E ( DEVELOPM5T ?AT ?OSE EVILS HAVE OBS]V$4 

,!RE >E A FEW FUNDAM5TAL PROPOSITIONS AT ! BASE ( ANY PROP] UND]/&+ ( ! ISSUES BETWE5 CAPITAL & LABOR1 ?AT MU/ BE PROP]LY PRES5T$1 BE=E WE CAN PROCE$ 9TELLIG5TLY TO TREAT ( ! ME?ODS BY :I* ! ORGANIZATION ( ! 9DU/RIES IS TO BE EFFECT$4 ,FEW LABOR]S KN[ !IR 9H]5T RI<TS1 BECAUSE !Y HAVE NOT HAD ! TIME TO 9QUIRE AB\T OR /UDY 9TO !M2 :ILE ! RI* DO NOT ASK :5 !Y TAKE ! NET PROCE$S ( LABOR1 IF !Y OPPRESS ! LABOR]4 ,! =M] REALIZ+ :5 HUNGRY FROM COMPULSORY IDL5ESS1 ?AT !RE IS SOME?+ WRONG1 DO NOT KN[ :AT IT MAY BE2 & ! LATT] SEEM TO BE UNCONSCI\S ?AT ! SUFF]+S ( ! UNEMPLOY$ >E CAUS$ BY !M4 ,BUT LET US SEE4 

,! BASIS ( ALL WEAL? IS 9 ! ELEM5TS--! L&1 ! AIR1 ! WAT]4 ,EV]Y?+ ?AT CONTRIBUTES TO ! NECESSITIES1 ! COM=TS1 ! LUXURIES ( LIFE COMES FROM !M4 

,!Y >E :AT MAN F\ND :5 HE MADE HIS ADV5T ON ! E>?4 ,EV]Y P]SON HAS AN 9ALI5ABLE RI<T TO !M1 A RI<T TO USE !M TO SUPPORT HIMSELF4 ,! RI<T TO LIFE C>RIES ) IT ! RI<T TO ?AT BY :I* IT CAN BE MA9TA9$4 ,)\T ?IS ! O!R IS A %AM4 ,! 0PRIVILEG$ CLASSES0 MAKE IT A %AM1 S9CE :ILE !Y SAY TO ! TOIL]S1 9 ! ,DECL>ATION ( ,9DEP5D5CE1 0Y\ HAVE A RI<T TO LIFE10 !Y NULLIFY IT :5 !Y SAY BY PRACTICE 0 Y\ %ALL HAVE NO RI<T TO ?AT BY :I* Y\ MA9TA9 IT1 SAVE AS WE ELECT & AT SU* CO/ AS WE MAY SET UPON IT40 ,!SE CLASSES HAVE OBTA9$ POSSESSION ( ! FREE GIFTS ( NATURE1 & USURP$ ! P[] TO DO ) !M AS !IR 9T]E/S DECIDE1 )\T REF]5CE TO :AT IS RI<T4 ,IF ! ELEM5TS BELONG TO UNIV]SAL MAN1 9/EAD ( TO A CLASS1 NO P]SON CAN ACQUIRE AN [N]%IP TO AN 9* ( L&1 A DROP ( WAT] OR A BREA? ( AIR4 ,BUT ! FEW DEPRIVE ! MANY ( !IR USE BY ! RI<T ( MI<T2 /ILL ! RI<T TO !IR USE EXI/S1 9ALI5ABLE ?\< TRAMPL$ UND] FOOT1 & NO LESS TO ! L& ?AN TO ! AIR & WAT]4 ,:AT W\LD ! HOLD]S ( ! L& SAY TO HIM :O %\LD BOTTLE UP ! AIR & WAT] & ASSUME TO DEAL !M \T TO O!RS = CONSID]ATIONS8 ,W\LD !Y SUBMIT AS TAMELY AS DO ! MANY TO ! FEW 9 ! 9/ANCE ( ! L&8 ,NO6 ,!RE W\LD BE REBELLION AT ! FIR/ ATTEMPT AT SU* A ?+2 & YET ?IS MI<T BE DONE ) AIR & WAT] AS JU/LY AS :AT !Y DO ) L&4 

,! AIR1 ! WAT]1 ! L&1 EXI/ -- MAN HAD NO H& 9 MAK+ !M4 ,!Y >E ! FIR/ FACTOR 9 ! PROBLEM ( MA9TA9+ LIFE2 BUT1 UNUS$1 >E VALUELESS4 ,LABOR IS ! SECOND FACTOR 9 ?IS PROBLEM1 & WEAL? -- BE+ :ATEV] CAN CONTRIBUTE TO ! MA9T5ANCE ( LIFE1 OR 9CREASE ITS COM=TS OR LUXURIES -- IS ! RESULT4 ,BE=E LABOR !RE WAS NO WEAL?4 ,ALL WEAL? COMES FROM LABOR1 H5CE BELONGS TO IT4 ,IF !RE W]E NONE BUT EQUITABLE EX*ANGES MADE1 ALL EVID5CE ( LABOR W\LD REMA9 ) ITS PRODUC]S4 ,BUT ! SURPLUS WEAL? IS HELD BY ?OSE :O HAD NO H& 9 ITS PRODUCTION1 :ILE ! PRODUC] SEES HIS FRUITS ADD$ TO !IR AGGREGATIONS YE> AFT] YE>1 & HIS [N ALL[ANCE1 9 ! BE/ ( TIMES1 R$UC$ CONT9UALLY NE>] ! />VATION PO9T2 &1 9 ! WOR/1 CUT (F ALTOGE!R4 

,IF EV]Y P]SON HAD AN UNRE/RICT$ RI<T TO USE ! ELEM5TS 7UND] EQUAL REGULATIONS7 & %\LD PUT ! RI<T 9 PRACTICE1 EV]YBODY W\LD BE SUPPLI$ )1 AT LEA/1 ! NECESSITIES ( LIFE4 

,EXP]I5CE1 H[EV]1 E>LY TAU<T ?AT IT IS AN ECONOMY = PEOPLE1 LABOR+ 9 DIFF]5T FIELDS & LOCALITIES1 ACCORD+ TO !IR SOIL & CLIMATE1 & !IR G5]AL CAPACITIES & ADAPTABILITIES1 TO EX*ANGE !IR PRODUCTS ) EA* O!R1 RA!R ?AN = EA* TO ATTEMPT TO PRODUCE EV]Y?+ ?AT HE DESIRES4 ,C\LD !Y LIV+ 9 DIFF]5T LOCALITIES & PRODUC+ DIFF]5T ?+S HAVE DONE !IR [N EX*ANG+1 ! NE$ = A NON-PRODUC+ CLASS W\LD NEV] HAVE >IS54 ,BUT IT WAS NOT ALWAYS CONV5I5T TO PAY = CLO!S 9 CORN NOR = ! TAILOR TO RECEIVE SU* PAY4 ,SO H]E A NE$ >OSE = SOME O!R ?AN ! DIRECT ME?OD ( EX*ANGE4 ,! +5UITY ( MAN1 EV] ON ! AL]T TO S]VE HIS SELFI%NESS1 9V5T$ A ?+ & CALL$ IT MONEY1 TO FILL ?IS NE$4 ,?IS1 :ILE US$ = NO?+ ELSE BUT ?IS EX*ANGE1 P]=M$ ITS FUNCTIONS NORMALLY 2 BUT :5 PUT TO O!R USES1 IT BECAME ! ,LORD ( LABOR4 

,ALL ! EX*ANGES MI<T BE EFFECT$ )\T ! USE ( MONEY1 BUT NOT SO WELL2 NOT SO CONV5I5TLY2 NOT SO ECONOMICALLY4 ,IT IS !RE=E 9 A /RICT S5SE1 AN ECONOMICAL CONV5I5CE = DO+ :AT MI<T BE DONE1 BUT NOT SO WELL )\T IT4 

,BUT N[ OBS]VE H[ ! NONPRODUCTIVE CLASSES ROSE ONE AFT] ANO!R1 TO DRAW ON ! PRODUC+1 & /ILL F>!R TAX ! CONSUM+ CLASS4 

,! USE ( MONEY MADE ! OPPORTUNITY = ! MOD]N M]*ANT4 ,HIS LEGITIMATE FUNCTIONS >E ! DI/RIBUTION ( ! FRUITS ( LABOR 9 ! 9T]E/S ( LABOR]S & CONSUM]S1 & AS !IR AG5T4 ,BUT FROM ?IS HE DEG5]ATES TO A SPECULATOR ON !IR NE$S4 ,PRO/ITUT+ HIS FUNCTIONS & ?OSE ( MONEY TO SELFI% PURPOSES1 HE BUYS FROM ONE AT ! L[E/ PRICE 7A PRICE LEAV+ HIM NO PR(IT17 & SELLS TO ! O!R AT ! HI<E/ PRICE1 7A PRICE ?AT EXHAU/S HIS E>N+S17 ! DIFF]5CE BETWE5 ! TWO REMA9+ 9 HIS PURSE -- A PR(IT-MAK+ SY/EM 9 :I* MANY 9DU/RIAL EVILS HAVE ORIG9AT$4 

,!SE MIDDLE-M5 W]E ! FIR/ ABNORMAL CLASS4 ,HAD !Y EX]CIS$ !IR NORMAL FUNCTIONS ONLY1 !Y W\LD HAVE BE5 ! ALLIES ( LABOR]S1 ACT+ AS !IR AG5TS 9 EX*ANG+ COMMODITIES1 & ) !M %>$ ! SURPLUSES4 ,BUT 9 ! GRE$ = GA91 ! DESIRE TO DOM9ATE1 ! PASSION TO POSSESS1 !Y WAIV$ !IR GREAT ADVANTAGE1 & BECAME OPPRESSORS2 BEGAN AN OP5 W>F>E UPON PRODUC]S1 :I* HAS RESULT$ 9 ! ABSORPTION BY ! MIDDLE-M5 ( ALL SURPLUS WEAL?1LEAV+ LABOR A B>E SUBSI/5CE4 ,AS ! NATURAL ALLIES ( LABOR !Y %\LD HAVE DIVID$ ! WORLD 9TO PRODUC]S & CONSUM]S1 & ?IS W\LD HAVE LIMIT$ ! NONPRODUCTIVE PEOPLE TO ?IS CLASS4 

,BUT ! %ORT-SI<T$ POLICY ( ! MIDDLE-M5 DID NOT /OP H]E EV52 SOME ( !M BE+ SUCCESSFUL 9 SPECULATION BE- GAN SPECULAT+ ON ! SPECULATORS2 BUY+ L>GE QUANTITIES FROM FIR/ H&S 75DEAVOR+ TO PUR*ASE ALL7 & HOLD+ TO CONTROL ! M>KET1 SMALL DEAL]S >E =C$ TO PAY L>GE PR(ITS4 ,H]E ANO!R CLASS WAS 9TRODUC$ TO LIVE & FATT5 ON PRODUC]S4 ,AGA91 SOME ( ?IS CLASS1 MORE %REWD ?AN !IR ASSOCIATES 9 PR(IT-MAK+1 GAVE UP ! TRAFFIC & MADE LOANS TO ! LESS =TUNATE TO 5ABLE !M TO 0BRIDGE OV]0 SOME F9ANCIAL *ASM2 OR ELSE TO GET POSSESSION ( VA/ QUANTITIES ( M]*&ISE2 & ?US ! MONEY L5D+ USUR] WAS BORN1 ! SUM' PAID HIM AS 9T]E/1 ALWAYS BE+ ADD$ TO ! PRICE PAID BY CONSUM]S1 OR ELSE D$UCT$ FROM :AT PRODUC]S %\LD RECEIVE4 ,& F9ALLY SOME ( ! MONEY L5D]S GREW RI* 5\< TO CAT] TO ! WANTS ( ,K+S4 ,) MONEY !Y CONTROLL$ ! DE/9IES ( NATIONS & BECAME MORE P[]FUL ?AN !IR ROYAL PATRONS4 ,ALL VA/ AGGREGATES ( WEAL? HAVE BE5 ACCUMULAT$ FROM AGRICULTURI/S & ME*ANICS ?R\< UNJU/ EX*ANGES1 & >E ! SURPLUSES ?AT %\LD HAVE REMA9$ 9 !IR POSSESSION1 & ?AT W\LD HAVE REMA9$1 HAD NONE SAVE NORMAL USE BE5 MADE ( MONEY1 :I* IS EX*ANGE1 & MEANS ( DI/RIBUTION4 

,BUT ?IS1 IT MAY BE URG$ -- & ) SOME REASON TOO -- IS ! RE/RICT$ VIEW ( ! GREAT SUBJECT1 9 :I* 9DIVIDUAL 9T]E/S ALONE >E CONSID]$ -- ! PESSIMI/IC >GUM5T ?AT EV]Y ?+ IS \T ( JO9T4 ,IT PRESUPPOSES ?AT HAD !SE ILLS BE5 O!RWISE !RE W\LD HAVE BE5 HAPP9ESS & PROSP]ITY1 PEACE & COM=T ONLY 9 ! WORLD2 ?AT ! 9DU/RIAL & MORAL 9/9CTS ( ! RACE W\LD HAVE HAD A BETT] FIELD = ACTIVE GR[?4 

,! BROAD] VIEW IS FROM AN OPPOSITE DIRECTION1 :I*1 TAK+ ?+S AS !Y >E1 ASSUMES ?AT ! MORAL & 9DU/RIAL 9/9CTS HAVE BE5 EVOLV$ AS RAPIDLY AS POSSIBLE1 & ?AT ! SEEM+ EVILS -- BY R$UC+ ! ELEM5TS ?R\< ME*ANICS TO ! CONTROL ( 9TELLECTUAL P[] -- WILL BE ! MEANS BY :I* EV5TUALLY ! RACE WILL SAVE ITSELF 9 ! /RUGGLE = ! ?+S ( LIFE FROM ! 0WE> & TE>0 ( BONE & MUSCLE4 ,IT IS ! OPTIMI/IC >GUM5T ?AT ALL ?+S WORK TOGE!R = ! GOOD ( ALL1 OR AS ! PR(\ND POEM SANG 3 

0,ALL DISCORD1 H>MONY NOT UND]/OOD ,ALL P>TIAL EVIL1 UNIV]SAL GOOD40 

,WE KN[ ( NO ME?OD BY :I* ?+S C\LD HAVE DEVELOP$ MORE RAPIDLY ?AN !Y HAVE4 ,WE MU/ !RE=E CONCLUDE ?AT HAD !RE BE5 NO AGGREGATIONS ( WEAL? BY :I* ! GREAT IMPROVEM5TS HAVE BE5 MADE & BY :I* 9TELLECTUAL & COMM]CIAL 9T]E/S HAVE BE5 SO WISELY & 9SEP>ABLY CONNECT$1 !RE C\LD HAVE BE5 NO CIVILIZATION4 ,VAULT+ AMBITION WAS NECESS>Y TO CONCEIVE & C>RY =W>D VA/ 5T]PRISES2 & EV5 ?IS NE$$ ! /IMULUS ( 0GA940 

,:ILE ! HUMANIT>IAN WAS DORMANT 9 ! RACE1 ! SELFI% PROP5SITIES FURNI%$ ! MOTOR P[] = ALL GREAT MOVEM5TS1 & IF GREAT AGGREGATES ( 9DIVIDUAL WEAL? >E MONUM5TS TO ! CUPIDITY ( ! PEOPLE1 !Y >E ALSO ! EVID5CE ( POSSIBILITIES 9 ! FUTURE1 :5 !SE MONUM5TS %ALL 5FRAN*ISE LABOR4 ,SO1 ?\< ! MOTIVES ( ?OSE :O HAVE OPPRESS$ LABOR1 HAVE BE5 = SELF1 ! \TCOME WILL BE = ! GOOD ( ALL4 

,BUT1 LOOK AT ! ILLS ( LABOR AS WE MAY1 !RE SEEMS TO BE A S+LE SY/EM ONLY1 BY :I* IMMUNITY FROM !SE MAY BE SECUR$1 & ?IS IS 9 ORGANIZ+ IT UPON ! PLANE ( MUTUAL 9T]E/S1 OR COOP]ATIVE PR9CIPLES4 ,9 ! COMPETITIVE SY/EM !RE WILL ALWAYS BE ILLU/RATIONS ( ! POSSIBILITY ( ONE GETT+ POSSESSION ( :AT ?\S&S HAVE PRODUC$4 ,:5 F9ANCIAL CRISES COME -- AS COME !Y WILL 9 SU* A SY/EM -- ! ?\S&S WILL SUFF]1 & ! ONE WILL MAKE NO SACRIFICE1 UNLESS COMPELL$ TO MITIGATE ! SUFF]+4 

,?\< ?IS RI<T TO ACQUIRE & HOLD POSSESSION 9 ! FACE ( SUFF]+1 IS LEGALLY UNQUE/ION$1 IF IT BE EXAM9$ 9 ! LI<T ( JU/ICE IT WILL NOT /& A MOM5T4 ,IT IS ! P[] BY :I* A ,CES> RUL$ ! WORLD2 BY :I* K+S HAVE KEPT !IR SWAY2 ! ,S\? ITS SLAVES4 ,NONE ( !SE SUBJECTIONS W]E MORE DESPOTICALLY MA9TA9$ ?AN IS ! DOM9ANCE ( WEAL? OV] ! LABOR+ MASSES4 

,! LIB]TY ?AT ! WORK+ MAN 5JOYS IS MORE 9 NAME ?AN FACT4 ,H[ CAN HE BE FREE1 :OSE RI<T TO LABOR = :AT HE NE$S TO EAT & WE>1 IS 9 ! UNRE/RICT$ H&S ( AN EMPLOY]8 ,OR H[ CAN HE BE FREE :OSE LABOR 9 PROSP]\S TIMES1 B>ELY FE$S & CLO!S HIMSELF & FAMILY1 LEAV+ HIM P5NILESS TO 5C\NT] ADV]SITY :5 TURN$ ADRIFT FROM WORK8 ,IT IS ?R\< ! IGNORANCE & SELFI%NESS ( ! RI* ?AT MILLIONS >E HUNGRY1 HOMELESS1 NAK$1 />V+1 9 ?IS L& ( PL5TY4 

,:5 ! HI/ORY ( ! T5ORS ( />VATION REC5TLY 5DUR$1 %ALL BE WRITT5 BY ! BRAVE HI/ORIAN -- & A BRAVE ONE HE MU/ BE :O WILL D>E TO TELL ! TRU? -- ! RI* WILL BE HELD RESPONSIBLE = ALL ?IS MIS]Y4 

,BUT WE %\LD NOT ]R ON ?IS SIDE ( SEV]ITY4 ,WE %\LD NOT BLAME 9DIVIDUALS TOO MU*1 LE/ WE LOSE SI<T ( ! SY/EMS 9 :I* ! REAL WRONG EXI/S4 ,WE MU/ REMEMB] ! WORLD HAS EVOLV$ \T ( *AOS ?R\< A LONG S]IES ( *ANGE1 & ?AT ! M5 & CU/OMS ( ANY GIV5 P]IOD >E LEGITIMATE = ?AT P]IOD1 BUT >E NOT LEGITIMATE = ! NEXT4 ,FROM ?IS TO ! NEXT G5]ATION SWEEP+ *ANGES WILL BE MADE1 SOME ( :I* >E N[ MOV+ RAPIDLY4 ,LABOR]S HAVE NO CAUSE TO *>GE ! T>DY MOVEM5T TO ! RI* S9CE !Y HAVE ! LAW MAK+ P[] 9 !IR [N H&S & HAVE REFUS$ TO USE IT4 ,UNTIL !Y %ALL S5D M5 TO ,CONGRESS TO NO LONG] MISREPRES5T !M & !IR 9T]E/S1 !Y %\LD RA!R ADMIT !IR [N RESPONSIBILITY1 & MAKE HA/E TO *ANGE !IR PREVI\S CONDUCT 9 POLITICAL AFFAIRS1 & WAGE !IR W> AGA9/ ! LAM & CU/OM3 ?AT HAVE BR\<T ON ! DI/RESS1 & NOT AGA9/ 9DIVIDUALS4 

,WE HAVE SE5 H[ ! 9DU/RIES W]E SADDL$ ) ! ?REE BILLIONS ( PUBLIC DEBT4 ,ONE BILLION ( ?IS HAS BE5 PAID1 SEV5 HUNDR$ MILLION HAV+ BE5 PUR*AS$ AS A S9K+ FUND4 ,! MEANS ) :I* ?IS HAS BE5 DONE1 HAS BE5 DRAWN BY ! GOV]NM5T FROM ! 9DU/RIES1 & ?IS HAS BE5 ANO!R BURD5 :I* IS SELDOM TAK5 9TO CONSID]ATION4 0,BUT10 SAY ! MONEY CLASSES1 0WE & NOT ! LABOR]S HAVE BORNE ALL ?IS40 ,BE=E GO+ ANY F>!R LET ME DISPOSE ( ?IS :OLLY FALSE ASSUMPTION4 ,TRUE1 IT WAS FROM !SE PEOPLE ! GOV]NM5T RECEIV$ ! MONEY2 BUT FROM :OM DID !Y OBTA9 IT8 ,A FEW RAYS ( LI<T %$ UPON ?IS HI!RTO VEIL$ SUBJECT WILL %[ DI/9CTLY ?AT ! SEEM+ H]E IS NOT REALITY4 ,BEYOND ! POSSIBILITY ( A D\BT1 ! RI* NOT ONLY DO NOT PAY A DOLL> ( TAXES1 BUT EQUALLY BEYOND A D\BT1 PRODUCTIVE LABOR PAYS !M TO ! LA/ F>?+1 NO MATT] 9 :AT =M LEVY MAY BE MADE2 & NOT ONLY ?IS1 BUT ALSO ALL ! BILLS ( EXP5SE ( ! VA/ E/ABLI%M5TS ( !SE SAME RI*1 !IR W9E BR&Y & CIG>S2 !IR CORRUPTION FUNDS1 ) :I* !Y BUY & SELL ! LEGISLAT+ P[] AGA9/ ! LABOR]1 & EV]Y O!R ?+ 9 :I* !Y N[ 9DULGE FROM :I* HE IS %UT \T4 ,HIS E>N+S -- HIS H>D WR\<T PRODUCTS -- >E SEIZ$ UPON BY !M & TURN$ AGA9/ HIM1 AS AN >MY SEIZES ! CANNON ( ITS CONQU]$ FOE & ) !IR %OT & %ELL1 ANNIHILATES :AT IS LEFT ?AT CAN RESI/ !M4 

,ADMIT1 = ! SAKE ( >GUM5T1 ?AT ! WEAL? :I* EA* ONE HOLDS TO--DAY1 IS HIS ( RI<T2 & ?AT TO-MORR[ IS ASSESSM5T DAY = ! :OLE C\NTRY4 ,?IS WEAL? IS VALU$ AT A C]TA9 SUM ON :I* A GIV5 TAX IS LAID4 ,DUR+ ! YE> EV]Y?+ GOES ON AS USUAL3 ! V>I\S GOV]NM5TS1 NATIONAL /ATE1 MUNICIPAL & LOCAL2 ! EXP5SES ( ! RI*1 & ! LABOR ( ! POOR4 ,AT ! 5D ( ! YE> ! NET PROCE$S ( LABOR WILL BE GA!R$ & REALIZ$ UPON1 & ADD$ TO ! TOTAL AGGREGATE ( WEAL?1 :I* WILL BE 9CREAS$ OV] :AT IT WAS AT ! BEG9N+ ( ! YE> BY ?REE P]C5T4 ,N[ FROM :5CE WILL ?IS 9CREASE COME8 ,:5CE ?AT FROM :I* ALL !SE EXP5SES WILL BE PAID8 ,FROM ! WEAL? ?AT WAS ON H&8 ,?AT W]E IMPOSSIBLE1 S9CE ?AT 9/EAD ( DIM9I%+ WILL BE 9CREAS$4 ,WILL IT COME FROM ! NON-LABOR]S- ! ,BANK]S1 ! ,BONDHOLD]S1 ! ,MONEY L5D]S1 ! ,USURY TAK]S1 ! ,RAILROAD ,MON>*S1 ! ,L& ,K+S1 ! ,M]*ANT ,PR9CES1 ! ,COTTON ,LORDS8 ,OR WILL IT BE FROM ! HI<-TON$ GAMBL]S -- ! ,/OCK-EX*ANG]S -- ?OSE :O 0CORN]0 :EAT1 CORN OR PORK 9 ,BO>DS ( ,TRADE1 OR ?OSE :O FATT5 BY ! LAW1 ,ATTORNEYS1 ,JUDGES1 ,%]IFFS1 ,M>%ALLS1 ,CON/ABLES1 & ! :OLE CREW :O MAN ! ,%IP ( ,/ATE2 ,DOCTORS1 ,M9I/]S1 ETC41 ETC41 ETC4 ,WILL ANY OR ALL ( !SE 0,G5TLEM50 CREATE1 PRODUCE ! WEAL? ?AT WILL PAY ALL ?IS EXP5SE & ADD ?REE P]C5T TO ! AGGREGATE8 ,NO4 ,ANY S*OOL-BOY CAN ANSW] ?AT4 ,NOT SO MU* AS ONE PALTRY DOLL> CAN COME FROM !M1 IT ALL MU/ COME FROM SOME PRODUC+ S\RCE4 ,& :]E1 PRAY1 IS ?IS S\RCE8 ,:]E ! P[]1 ! SKILL ?AT WILL CREATE ALL ?IS VA/ WEAL?8 ,ONE SIMPLE WORD CONTA9S IT ALL4 ,LABOR4 ,?OSE :O TOIL DAY AFT] DAY1 URG+ ! FRUITFUL1 WILL+ E>? TO YIELD H] B\NTIES4 ,?OSE :O FA%ION :AT %E FREELY YIELDS = USE2 ?OSE :O GO 9TO ! D5SE =E/S & HEW D[N TREES1 & RAFT & SAW2 ?OSE :O 9 MURKY M9ES DELVE 9 ! B[ELS ( ! E>?1 TO CAUSE H] TO YIELD H] HIDD5 TREASURES -- GOLD1 SILV]1 COPP]1 IRON4 LEAD1 COAL1 SALT1 OIL2 ?OSE :O LEVEL D[N ! M\NTA9S1 FILL UP ! VALLEYS1 BRIDGE ! MI<TY RIV]S & LAY ! IRON B&S ?AT B9D ?IS C\NTRY'S PEOPLE 9SEP>ABLY TOGE!R4 ,Y\1 & Y\1 & Y\1 FROM ! /RONGE/ MAN1 ! MO/ 9DU/RI\S WOMAN1 TO ! WEAKE/ *ILD :O FURNI%ES ! SLI<TE/ ?+1 OR FA%IONS IT = USE1 OV] & ABOVE :AT IT %ALL CO/ TO LIVE4 ,Y\1 !SE1 ?OSE1 ALL >E !Y FROM :OM WILL COME ! WEAL? TO DO ALL ?IS2 & ! TIME HAS COME = JU/ICE TO BE DONE TO ?IS LONG SUFF]+1 UNCOMPLA9+ TOIL1 & TO HAVE IT KN[N & ACKN[L$G$ :O IT IS ?AT SUPPLIES ! VITAL P[] BY :I* ! VA/ MA*9]Y ( ?IS GREAT GOV]NM5T & PEOPLE1 ) ALL ITS NONPRODUCTIVE CLASSES & ATTA*ES1 IS RUN6 

,TO BE SURE SOME1 P]HAPS MO/1 ( ! NONPRODUCTIVE CLASSES HAVE LABOR$ 9 SOME WAY4 ,!Y HAVE OV]SE5 Y\R WORK1 H&L$ Y\R WEAL? & MONEY1 :ILE Y\ HAVE BE5 PRODUC+ MORE4 ,!Y HAVE B\<T Y\R W>ES1 & SOLD Y\R M]*&ISE1 GRA91 MEAT1 COTTON & WOOL1 & FROM !IR PROCE$S HAVE PAID ! TAXES2 HAVE LODG$ !MSELVES 9 PALATIAL HOMES1 OR LUXURI\S HOTELS ?AT Y\ HAVE BUILT1 :ILE Y\ HAVE BE5 CONT5T TO LIVE 9 M]E HUTS & HOVELS2 HAVE CLO!D !MSELVES 9 0PURPLE & F9E L950 ?AT Y\ HAVE SPUN & WOVE2 :ILE Y\ HAVE BE5 B>ELY COV]$ ) CO>SE/ WOOLS OR COTTONS2 HAVE F$ & DRUNK !MSELVES ON ! *OICE/ FOODS & CO/LIE/ W9ES ?AT Y\ HAVE CULTIVAT$2 :ILE Y\ HAVE SOMETIMES BE5 SATISFI$ TO GET A CRU/ ( BREAD2 & EV5 ?IS SLIM F>E AT TIMES IS D5I$ TO ! />V+ MILLIONS :O LIVE -- IF :AT !Y DO1 CAN BE CALL$ LIV+ -- ON ! CRUMBS :I* FALL FROM :AT IS LEFT ( ?AT :I* Y\ PASS TO ! TABLES ( ! RI*4 ,!SE >E !Y :O PAY ! TAXES1 >E !Y8 ,:O WILL1 :O CAN PRET5D IT :5 !Y COME TO LOOK 9TO ! MATT] CLOSELY2 OR :O WILL D>E TO SAY !Y DES]VE ! CONSID]ATION ) :I* !Y HAVE BE5 TREAT$ ALL !SE YE>S8 ,OR :O1 ?AT ! LABOR !Y HAVE DONE1 5TITLES !M TO ! WEAL? !Y HOLD1 OR TO ?AT :I* Y\ EA* YE> >E ADD+ TO IT8 ,NO ONE4 ,& ! TIME HAS COME = ! TRU? TO BE SPOK5 TO !M 9 ?UND]-TONES1 IF NECESS>Y TO MAKE !M FEEL IT2 TO 9DUCE OR =CE !M TO LI/5 TO Y\R CLAIMS4 ,= !IR [N SAKES MU* MORE ?AN Y\RS1 !Y %\LD L5D A WILL+ E>4 ,& LET !M REMEMB] ?IS BE=E IT IS TOO LATE ?AT ! S\!RN SLAVE-HOLD]1 PLAY+ ! FOOLI% CONFIDANTE LO/ HIS ALL2 LET !M REMEMB] ?AT ?OSE :O MAKE ! WEAL? DO NOT OBJECT TO %>+ IT EQUALLY ) ?OSE :O AID !M 9 EX*ANG+ IT 9 ANY WAY -- :O BUY & SELL IT TO MEET ! DEM&S ( TRADE -- :O DO ANY?+ CONNECT$ ) ! GA!R+ OR DI/RIBUTION ( :AT Y\R LABOR YIELDS OR FA%IONS4 

,ABRAHAM ,L9COLN1 :OSE NAME WE HOLD 9 REV]5CE = HIS /]L+ QUALITIES ( HEAD & HE>T1 :OSE EMANCIPATION PROCLAMATION RAIS$ F\R MILLION SLAVES TO ! POSITION ( M5 & WOM52 :O HAD A KE5 APPRECIATION ( ! HI<E/ VIRTUE ( :I* HUMAN NATURE IS CAPABLE1 JU/ICE1 LEFT US ?IS SIMPLE1 YET COMPREH5SIVE /ATEM5T ON ?IS SUBJECT 3 0,LABOR IS PRIOR TO & 9DEP5D5T ( CAPITAL4 ,CAPITAL IS ONLY ! FRUIT ( LABOR & C\LD NEV] HAVE EXI/$ IF LABOR HAD NOT FIR/ EXI/$4 ,LABOR IS ! SUP]IOR ( CAPITAL & DES]VES MU* ! HI<] CONSID]ATION40 ,DANIEL ,WEB/] ALSO LEFT US !SE IMMORTAL WORDS3 0,! GREAT 9T]E/ ( ?IS C\NTRY1 ! PRODUC+ CAUSE ( ALL ITS PROSP]ITY IS LABOR1 ,L,A,B,O,R1 ,L,A,B,O,R4 ,! ,GOV]NM5T WAS MADE TO 5C\RAGE & PROTECT ?IS 9DU/RY & GIVE IT SECURITY40 ,H[ IT HAS DEG5]AT$4 

,REMEMB]+ ! LESSON AS TO :O PAYS ! TAXES & EXP5SES ( ! NONPRODUCTIVE PUBLIC1 LET US RETURN TO ! BOND$ DEBT1 & SEE :AT >E ! RI<TS ( LABOR 9 RESPECT TO ?AT4 ,WE HAVE ALREADY SE5 ?AT ?IS WAS 9CURR$ BECAUSE ! POLITICAL & 9DU/RIAL SY/EMS ( ! C\NTRY >E ! =M] UPON A HI<1 & ! LATT] UPON A L[ PLANE ( DEVELOPM5T1 9 :I* ONE IS SUBJECT TO ! LAW ( COMMON 9T]E/S = ALL ! PEOPLE1 & ! O!R 9 :I* EA* FAMILY COMPETES1 IS AT 9DU/RIAL W> ) EV]Y O!R FAMILY4 ,BUT :AT >E ! EQUITIES BETWE5 LABOR & CAPITAL -- BETWE5 ! PRODUC+ & ! POSSESS+ CLASSES SO F> AS !Y W]E RELAT$ 9 ! W>2 & ! DEBT 9CURR$ 9 ITS PROSECUTION8 

,TO %[ ! POSITION TO :I* WEAL? ASPIRES1 ALL[ ME TO QUOTE FROM ! 0,*ICAGO ,TIMES10 A /RONG 0,CO9 BASIS0 0,BOND ,HOLD+0 0,MONEY ,L5D+0 ORGAN ( ! ADM9I/RATION1 ( DATE ,JANU>Y #b#a/1 #a#h#g#h4 0,?OSE :O10 SAYS ?IS PAP]1 0MA9TA9 !IR CLAIM TO PROP]TY 9 L&1 >E ?OSE :O WILL1 & :O BY EV]Y REASON = ! EXI/5CE ( SOCIETY1 \<T TO EXCLUDE FROM ! S\RCE ( ITS P[]1 ?OSE :O DO NOT PLANT !MSELVES 9 ! E>? ON :I* SOCIETY MU/ TAKE ROOT40 ,N[ LET ! 0,TIMES0 & ?OSE :OM ITS !ORIES REPRES5T1 :5 IT PROMULGATES DOCTR9ES SU* AS !SE1 BE HELD RIGIDLY TO !IR LOGIC & LEE TO :AT IT WILL BR+ !M4 ,ACCORD+ TO ?IS1 PROP]TY & NOT CITIZ5%IP1 IRRESPECTIVE ( IT1 %\LD BE ! BASIS ( GOV]NM5T2 & ALL :O DO NOT POSSESS IT1 MAY BE EXCLUD$2 ?AT IS DISFRAN*IZ$4 ,H[ DO Y\ LABOR]S1 :O FE$ !SE CLASSES YE> AFT] YE>1 LIKE !IR TEA*+S8 ,BUT1 HOLD !M TO !IR WORDS A MOM5T1 :ILE ! ,PUBLIC ,DEBT %ALL BE EXAM9$ FROM !IR [N /&PO9T ( RI<T4 ,IF ! GOV]NM5T %\LD HAVE ITS BASE 9 PROP]TY1 & BE ADM9I/]$ BY ?OSE ONLY :O HAVE IT1 !N PROP]TY & ITS HOLD]S %\LD MA9TA9 IT1 %\LD !Y NOT8 ,IF Y\ LABOR]S HAVE NO 9T]E/ 91 >E NOT TO BE RECOGNIZ$ BY ! RI* MAN'S GOV]NM5T1 !N ! RI* NEI!R HAD1 NOR HAVE ANY RI<T TO CALL Y\ \T TO FI<T !IR BATTLES4 ,:Y DID !Y CALL ON Y\ TO VOLUNTE]1 & :Y DRAFT Y\ 9TO ! S]VICE IF ! GOV]NM5T WAS !IRS & !IRS ALONE8 ,:Y DID !Y NOT FI<T !IR [N BATTLES & :Y HAV5'T !Y1 & :Y DO !Y NOT N[ PAY !IR [N EXP5SES8 ,PUT ?IS QUE/ION TO !M :5 !Y PRATE AB\T !IR RI<T TO EXCLUDE Y\ FROM ! SOV]EIGNTY4 ,BUT !Y NEI!R F\<T NOR PAID ! CO/S4 ,!Y FIR/ URG$ & AFT]W>DS DROVE Y\ LABOR]S 9TO ! RANKS = SLAU<T]1 SO ?AT !IR P]SONS MI<T BE SAFE & !IR PROP]TY 9VIOLATE1 & BORR[$ ! MONEY FROM !MSELVES ) :I* TO PAY ! CO/S1 GIV+ Y\R OBLIGATIONS AS SECURITY = ! PAYM5T4 

,!Y ISSU$ 9 R\ND NUMB]S1 ?REE BILLIONS ( BONDS1 & SOLD !M TO !MSELVES1 PAY+ = !M ON AN AV]AGE1 SIXTY C5TS ON ! CLO#aL> -- 7= SOME NO MORE !N ?IRTY-FIVE71 OR ONE BILLION EI<T HUNDR$ MILLIONS DOLL>S4 ,9 O!R WORDS !Y LOAN$ ! GOV]NM5T ?IS LATT] SUM & TOOK A BONUS ( ONE BILLION TWO HUNDR$ MILLION 9 ,BONDS TO PAY = DO+ IT4 

,& N[ :AT DO !Y ASK ?AT Y\ %ALL DO = !M ) EA* ( ?OSE ?REE HUNDR$ ?\S& ,BONDS8 ,ONLY ?IS6 ,!Y ASK ?AT = EA* ONE1 Y\ GIVE !M SIXTY DOLL>S A YE> = TW5TY YE>S1 OR 9 ALL1 ONE ?\S& TWO HUNDR$ DOLL>S & AT 5D ! ( ?AT TIME ! FULL FACE ( ! BOND ITSELF2 TOTAL TWO ?\S& TWO HUNDR$ = ! ORIG9AL SIX HUNDR$ FURNI%$1 OR = ! ONE BILLION EI<T HUNDR$ MILLIONS ?AT ! GOV]NM5T RECEIV$1 !Y DEM& ! MODE/ SUM ( SIX BILLION SIX HUNDR$ MILLION1 & ?IS TOO 9 ,GOLD1 -- NO?+ ELSE BE+ GOOD 5\< = ! IMM5SE S]VICE !Y R5D]$ ,GRE5BACKS W]E GOOD 5\< = Y\1 BUT !Y WANT ,GOLD1 & SAY IF Y\ DO NOT GIVE IT Y\ WILL BREAK Y\R FAI? ) !M & RU9 ! CR$IT ( ! C\NTRY4 ,?IS IS ADD+ 9SULT TO 9JURY4 ,BREAK Y\R FAI? ) !M1 =SOO?6 ,:AT FAI? HAVE !Y ?AT Y\ HAVE PL$G$ TO !M8 ,NONE6 ,!Y TRI$ TO PL$GE Y\R FAI? TO !MSELVES & BECAUSE !Y SEE Y\ DO NOT 9T5D TO BE IMPOS$ UPON TO KEEP IT1 !Y BEG9 TO TREMBLE LE/ !Y NOT ONLY LOSE ! 5ORM\S YE>LY 9T]E/ Y\ PAY1 BUT !IR ,BONDS AS WELL4 

,!Y SAY !RE WAS NO O!R WAY BY :I* ! W> C\LD HAVE BE5 C>RI$ ON SUCCESSFULLY 7& !Y \<T TO KN[7 BUT ?IS IS EQUAL TO SAY+ ?AT1 :ILE ! GOV]NM5T C\LD TAKE BY =CE1 ! UNWILL+ LABOR] FROM HIS FAMILY TO FI<T ! BATTLES ?AT W]E TO SAVE ! PROP]TY ( ! RI* M5 FROM DE/RUCTION1 IT HAD NO P[]1 OR RI<T TO COMPEL ?IS SAME PROP]TY TO PAY ! EXP5SES2 & ! RI* N[ 9T5D :5 !SE EXP5SES %ALL BE PAID TO HAVE 9 FACT1 ! PROP]TY ?AT Y\R DEVOTION SAV$ FROM RU91 & TO HAVE F\R DOLL>S RETURN$ TO !M TOR EV]Y ONE ADVANC$4 ,Y\ %$ Y\R BLOOD & !Y HAVE FATT5$ ON IT1 & /ILL PROPOSE TO DO SO4 ,H[ DO Y\ LIKE ! PICTURE8 ,WELL 5\< TO LET IT REMA9 = !IR SATISFACTION8 ,I DON'T BELIEVE IT6 ,I BELIEVE Y\ >E MAK+ UP Y\R M9DS TO S5D TO ,CONGRESS :5 NEXT Y\ VOTE1 SU* M51 & ONLY SU*1 AS %ALL BE PL$G$ TO ,9DU/RIAL ,JU/ICE4 ,BUT :AT %\LD1 -- :AT \<T ! LABOR] TO SAY TO ! DEM&S UPON HIM = ! PAYM5T ( ! SIX BILLION SIX HUNDR$ MILLIONS DOLL>S8 ,HE HAS A RI<T TO SAY ?IS AT LEA/2 ?AT IT WAS 5\< TO ASK ( 9DU/RY TO FI<T & W9 ! BATTLES ?AT PRES]V$ ! C\NTRY2 5\< ?AT ! WORK+ CLASSES LAID D[N !IR LIVES BY ?\S&S ON A HUNDR$ FIELDS ( BATTLE2 5\< ?AT WIVES & MO!RS GAVE UP !IR SONS & HUSB&S TO FILL ! SOLDI]'S GRAVE ?AT WEAL? MI<T BE SECURE2 5\< TO ASK ALL ?IS6 ,5\< TO HAVE DONE ALL ?IS1 )\T N[ BE+ CALL$ UPON1 TO TOIL YE> AFT] YE> = A :OLE G5]ATION TO PAY !SE RI* ONES BACK !IR LOANS4 ,!Y \<T TO URGE ?AT AS ! FLE% & BLOOD ?AT EXI/$ 9 ! RANKS ( LABOR AT ! TIME ! W> BROKE \T1 W]E FREELY US$ TO BR+ IT TO A T]M9ATION1 ! WEAL? ?AT !N EXI/$ %\LD BE COMPELL$ TO PAY ! CO/S1 TO NOT ONLY PAY :AT /ILL REMA9S \T/&+ ( ! ,PUBLIC ,DEBT1 BUT TO RETURN 9TO ! TREASURY ?AT :I* HAS BE5 PAID ) ALL ! 9T]E/ RECEIV$ UPON ! :OLE AM\NT -- !RE HAV+ BE5 ALREADY PAID MORE ?AN ! :OLE AM\NT RECEIV$ BY ! GOV]NM5T AT FIR/2 MORE ?AN ONE BILLION1 EI<T HUNDR$ MILLION DOLL>S4 ,?9K ( ?IS & DET]M9E H[ MU* LONG] Y\ WILL LET !SE ?+S GO ON4 ,I APPEAL TO ! RI* !MSELVES1 H>D AS IT MAY BE TO P>T ) MONEY1 IF ?IS W\LD BE ASK+ MORE ?AN :AT IS RI<T8 ,!Y >E W>N$ ?AT LABOR WILL USE !SE >GUM5TS ) :ATEV] =CE IS NECESS>Y TO MAKE !M FELT1 IF WANT %ALL DRIVE !M ON TO DESP]ATION4 ,IF ! RI* >E WISE !Y WILL =E/ALL ALL ?IS BY DO+ SIMPLE JU/ICE VOLUNT>ILY4 ,I HAVE NO D\BT1 H[EV]1 & ,I EXPRESS IT = ! RI* MAN'S SAKE1 ?AT1 IF !Y W\LD N[ COME =W>D & (F] TO TAKE GRE5BACKS1 ) :I* !Y PAID ! SOLDI]S1 = !IR BONDS1 LABOR WILL BE MAGNANIM\S 5\< TO P]MIT ! DEBT TO BE ?US PAID1 AL?\< IT IS BY F>1 TOO GREAT CONSID]ATION1 BY F> TOO MU* BEYOND :AT JU/ICE ITSELF \<T TO P]MIT4 

,& SU* A PAYM5T W\LD BE ADVANTAGE\S TO ?OSE :O HOLD ! BONDS EV5TUALLY4 ,! 9T]E/S ( A PEOPLE >E BY NATURE SO 9T]WOV5 ?AT IT IS IMPOSSIBLE = ONE TO MAKE ANO!R SUFF] )\T SOMETIMES FEEL+ ! REACTION2 IMPOSSIBLE = ONE P>T ( ! SOCIAL BODY TO BE DISEAS$ & SUFF]+1 )\T EV]Y O!R P>T NE>LY OR REMOTELY1 SYMPA?IZ+ ) IT4 ,N[ :AT W\LD BE ! FIR/ RESULT %\LD ! BOND$ DEBT BE PAID 9 GRE5BACKS8 ,IT W\LD R$UCE ! NATIONAL EXP5SES OV] A HUNDR$ & FIFTY MILLIONS ANNUALLY 9 9T]E/ & CO/S ( RAIS+ REV5UES4 

,! 9T]E/ BE>+ DEBT N[ 9 ! H&S ( ?OSE :O HO>D ! MONEY PAID TO !M AS 9T]E/ BE+ *ANG$ 9 !IR H&S TO A NON-9T]E/ BE>+ CURR5CY1 !Y W\LD 5GAGE AT ONCE 9 SOME BUS9ESS TO EMPLOY !IR MONEY4 ,?IS W\LD CREATE DEM&S = LABOR EV]Y :]E1 & SOON HUNG] & DI/RESS W\LD BE REPLAC$ BY ?RIFT & HAPP9ESS4 ,WELL PAID LABOR IS :AT IS WANT$ = ! UNEMPLOY$1 NOT MONEY = ! RI*4 ,:5 ALL ! LABOR ( ANY C\NTRY IS 5GAG$1 IT MU/ BE PROSP]\S1 LET ! F9ANCIAL CONDITION BE :AT IT MAY1 OR :E!R IT HAVE ANY F9ANCIAL SY/EM OR ANY MONEY EV5 AT ALL4 ,F9ANCE IS ONLY AN AID TO NOT ! CAUSE ( PRODUCTION1 & !RE W\LD BE JU/ AS MU* WEAL? 9 ANY C\NTRY1 IF !RE W]E NO MONEY4 ,IT IS ! RI<T ( ! LABOR] TO ! USE ( SO MU* ( HIS PREVI\S PRODUCTIONS1 AS WILL FE$ & CLO! HIM :ILE HE PRODUCES MORE4 ,?IS IS D5I$ HIM N[4 

,! CR$IT ( ! C\NTRY W\LD NOT BE 9JUR$ BUT IMPROV$ BY ! PAYM5T ( ! BONDS 9 CURR5CY4 

,! PR9CIPLES UPON :I* ! CR$IT ( A NATION RE/S2 >E ! SAME AS ?OSE UPON :I* 9DIVIDUAL CR$IT /&S4 ,AN 9DIVIDUAL :O HAS A MILLION DOLL>S WOR? ( PROP]TY 5GAG$ 9 BUS9ESS )\T 9T]E/1 HAS A BETT] CR$IT ?AN ANO!R 9DIVIDUAL HAV+ A LIKE AM\NT ( PROP]TY 5GAG$ 9 BUS9ESS1 BUT TO KEEP UP :I* HE HAS ANNUALLY TO PAY -- BY LI5S UPON ! PROP]TY -- FIFTY ?\S& DOLL>S MORE ?AN HIS 9COME4 ,! DI/9CTION BETWE5 ! TWO CASES IS PRECISELY ! SAME ?AT W\LD EXI/ BETWE5 \R NATIONAL CONDITION1 & ?AT :I* W\LD BE IF ! BOND$ DEBT W]E *ANG$ TO ONE NOT BE>+ 9T]E/4 

0,BUT ! =EIGN HOLD]S W\LD C]TA9LY BE L>GE LOS]S BY SU* A *ANGE & W\LD NEV] AGA9 GRANT CR$IT10 SAYS ! 0,SPECIEM540 ,NOT AT ALL6 ,!Y W\LD F9D 9 A %ORT TIME ?AT :AT !Y CONCEIV$ A DISADVANTAGE1 TURN$ \T A B5EFIT1 UNLESS !Y GRUMBLE BECAUSE COMPELL$ TO SEEK NEW 9VE/M5TS4 ,! =EIGN BONDS W\LD BE PAID = -- AS BALANCES DUE TO O!R C\NTRIES >E ALWAYS SETTL$ -- BY \R EXPORTS AT PRICES ?AT W\LD BE DET]M9$ BY ! /&>D ( !IR VALUES 9 ! C\NTRIES TO :I* !Y %\LD GO4 ,SO :ILE ! ,BONDHOLD]S W\LD NOM9ALLY BE PAID 9 ,GRE5BACKS !Y W\LD VIRTUALLY BE PAID 9 !IR [N C\NTRY'S MONEY TO ! AM\NT ?AT EA* ?\S& DOLL>S WOR? ( PRODUCE 9 ,GRE5BACKS W\LD !RE BE WOR?4 

,! /RESS LAID UPON ! CO9 PAYM5T ( ! PUBLIC DEBT IS !RE=E A FALLACY & MEAN+LESS1 & IS URG$ 9 WILLFULNESS OR ELSE 9 IGNORANCE1 TO BL9D ! EYES ( LABOR TO ! ISSUES COM+ ON1 UNTIL ! S*EME = MONEY$ 9T]E/S :I* >E 9 VIEW %ALL BE COMPLET$4 

,AGA9 TO *ANGE ! =M ( DEBT W\LD /OP ! FAILURES1 ?AT UND] ! EXI/+ /ATE ( ?+S WILL CONT9UE TO 9CREASE SPREAD+ DESOLATION1 WANT & HUNG]1 /ILL WID] AMONG ! LABOR+ POOR4 ,) CONDITIONS 9 \R C\NTRY SU* AS SELDOM1 OR NEV] BE=E EXI/$ -- = ! BALANCE ( TRADE WAS NE> TWO HUNDR$ MILLIONS 9 \R FAVOR 9 #ahgg -- YET NOT)/&+ ?IS1 #ahgg WAS A MO/ DISA/R\S ONE 9 BUS9ESS CIRCLES4 ,9 ,NEW ,YORK ALONE1 9 ,DECEMB]1 ! FAILURES W]E = NE>LY EI<T MILLIONS1 OR AT A RATE ( ONE HUNDR$ MILLIONS ANNUALLY1 & = ! :OLE C\NTRY ACCORD+ TO ITS POPULATION1 =TY TIMES A HUNDR$ MILLION OR F\R BILLIONS DOLL>S1 & ?IS 9 SPITE ( A MO/ UNUSUAL =EIGN TRADE4 ,:AT \R COMM]CIAL CONDITION MI<T HAVE BE51 HAD ?IS TRADE BE5 AS H]ET(ORE1 AB\T ?AT MU* AGA9/ US1 NO ONE CAN TELL2 BUT IT W\LD HAVE BE5 SOME?+ ?AT NO?+ LESS ?AN AWFUL C\LD DESCRIBE4 

,BUT !RE WILL BE TOO MU* MONEY -- /ILL CLAIMS ! ADVOCATES ( ,GOLD4 ,?AT IS IMPOSSIBLE UNLESS ! :OLE AM\NT 9 CIRCULATION EXCE$ ! ANNUAL NET PRODUCTIONS4 ,A C\NTRY ) ALL ITS LABOR UTILIZ$1 ?AT CAN ADD ONE BILLION FIVE HUNDR$ MILLION TO ITS AGGREGATE ( WEAL? EA* YE>1 CAN ISSUE1 & USE ?AT AM\NT ( CURR5CY )\T *OK+ ! AV5UES ( TRADE4 ,! DIFFICULTY 9 ! PA/ HAS BE5 ?AT PROSP]ITY HAS ONLY BE5 CONSID]$ SU* :5 IT HAS BE5 ON ! SIDE ( ! MONEYMAK]S4 ,( C\RSE1 TO HAVE A L>GE AM\NT ( CURR5CY AFLOAT1 IS TO MAKE !IR PR(ITS SMALL4 ,BUT 9 ! FUTURE1 PROSP]ITY WILL BE MEASUR$ BY A DIFF]5T /&>D4 ,! C\NTRY WILL BE CONSID]$ PROSP]\S :5 LABOR IS REW>D$ BY L>GE SURPLUS PRODUCTS4 ,! VITAL ISSUE IS NOT1 & NEV] WAS CONF9$ TO MONEY4 ,IT IS 9 LABOR4 ,KEEP ?AT EMPLOY$ & ! C\NTRY MAY BE FLOOD$ ) ! PEOPLES' OBLIGATIONS 9 ANY LEGITIMATE WAY )\T FE> ( !RE EV] BE+ TOO MU* AFLOAT1 = NO ONE CAN PROCURE IT )\T GIV+ AN EQUIVAL5T 9 ! PRODUCTS ( LABOR4 ,IT MAY BE ASK$ :AT WAYS >E LEGITIMATE8 ,ANY ME?OD BY :I* ! PEOPLE CAN OBTA9 IT EQUALLY4 

,HAD ! ,GOV]NM5T1 9/EAD ( PLAY+ 9TO ! H&S ( ! MONEY$ M51 9 ITS LEGISLATION & ADM9I/RATION PAID SOME ATT5TION TO ! NECESSITIES ( ! POOR1 SOME ATT5TION TO ! PR9CIPLES ?AT UND]LIE 9DU/RIAL PROSP]ITY2 9/EAD ( CAT]+ CONT9UALLY TO ! RI* & FAWN+ AT ! FEET ( MILLIONAIRES1 !RE NE$ NOT HAVE BE5 A S+LE ONE ( ! MILLIONS ( HUNGRY M\?S1 NAK$ & UN%ELT]$ =MS1 ?AT HAVE SUFF]$ 9 ?IS C\NTRY DUR+ ! LA/ FEW YE>S4 ,HAD ! IDLE LABOR ( ! LA/ T5 YE>S BE5 UTILIZ$ 9 ANY L9E ( /APLE >TICLES1 ITS NET RESULTS W\LD HAVE PAID ! :OLE PUBLIC DEBT2 ]ECT$ 9 EV]Y CITY MAGNIFIC5T PUBLIC BUILD+S2 BUILT ! ,NOR? & ,S\? ,PACIFIC ,R4 ,R41 & COMPLET$ EV]Y O!R IMPROVEM5T ?AT C\LD HAVE ADD$ TO \R PROSP]ITY4 

,BUT ! WISDOM ( \R /ATESM5 C\LD NOT RISE ABOVE ! RI* MAN'S BANK ACC\NTS1 & ! SIZE ( ! MIS]'S YELL[ PILE4 

,! PRODUC+ CLASSES >E DECID+ ?AT ,GRE5BACKS %ALL FURNI% ! MEANS ( EX*ANG+ !IR PRODUCTS2 BECAUSE1 BY SO DO+1 AN 5ORM\S SUM ( 9T]E/ W\LD BE /OPP$ AT ONCE4 ,!Y HAVE ALSO DECID$ ?AT BANK CURR5CY %ALL BE RETIR$ BY ,GRE5BACKS1 BECAUSE ! TIMES >E TOO H>D TO PAY TO ,BANKS TWO HUNDR$ MILLIONS ANNUALLY1 = FURNI%+ ONE PORTION ( ! CIRCULAT+ M$IUM1 :ILE ! O!R PORTION CO/S NO?+1 & :ILE ! :OLE CAN BE HAD AT ! SAME RATE4 ,( C\RSE ! BANK]S DO NOT WANT TO GIVE UP ! TWO HUNDR$ MILLIONS1 NOR DO !Y WANT MORE ,GRE5BACKS ISSU$1 BUT !Y WANT :AT >E \T TO BE RETIR$1 SO ?AT !Y CAN FURNI% ! :OLE ( ! MONEY REQUIR$ TO DO ! BUS9ESS ( ! C\NTRY1 & ?US RAISE !IR 9COME FROM ?IS S\RCE TO ONE BILLION DOLL>S ANNUALLY1 BESIDES RETA9+ ! PRIVILEGE ( RECEIV+ & KEEP+ ! GOOD PEOPLES MONEY SAFELY1 AS !Y ALWAYS DO1 Y\ KN[4 ,SOME BANKS ) FIVE HUNDR$ ?\S& CAPITAL1 SECURE FIVE MILLIONS DEPOSITS4 ,NICE ?+1 ISN'T IT8 ,LET'S SEE4 ,?IRTY ?\S& 9T]E/ ON !IR CIRCULATION1 & ?REE HUNDR$ ?\S& ON !IR DEPOSITS4 7,BANK]S >E ! ONLY P]SONS :O DRAW 9T]E/ ON :AT !Y [E47 ,:O W\LD NOT BE ! [N] ( A BANK :5 HE CAN REALIZE ?REE HUNDR$ & ?IRTY ?\S& ANNUALLY ON A CAPITAL ( FIVE HUNDR$ ?\S& & YET !SE BANKS CLAMOR AGA9/ TAXATION & AB\T R$UC+ !IR CAPITAL4 ,IT IS ALL GAMMON2 ELSE :Y >E !Y SO ANXI\S TO HAVE ! GRE5BACKS RETIR$ & BANK CURR5CY TO TAKE ITS PLACE8 

,GOLD & SILV] CO9 ! ONLY MONEY1 ) ! ANNUAL PRODUCT LESS ?AN A HUNDR$ MILLION8 ,WAS !RE EV] SU* SUPREME FOLLY8 ,:5 !Y TALK LIKE ?IS1 !Y DO IT TO BL9D Y\R EYES TO :AT !Y WANT TO DO BEH9D ! SC5ES4 ,!Y DO NOT MEAN A WORD ( IT2 !Y MEAN ! OPPORTUNITY TO ISSUE & COLLECT 9T]E/ ON FROM ?REE TO FIVE DOLL>S ( PAP] CURR5CY1 = EV]Y ONE ( GOLD !Y HAVE2 ?AT IS TO SAY1 ) A CAPITAL ( A HUNDR$ ?\S& !Y WANT TO ISSUE & LOAN FIVE HUNDR$ ?\S&1 AT L>GE RATES ( 9T]E/ TO ! PRODUCTIVE CLASSES4 ,9T]E/6 ,9T]E/6 ,9T]E/6 ,JU/ AS IF MONEY BRE$S1 IS ! EV]LA/+ CROAK ( CAPITAL4 

,BUT :Y LONG] PAY 9T]E/ TO ANYBODY8 ,IF ! RATES :I* \R MANUFACTUR]S & PRODUC]S PAY W]E NOT D\BLE ?OSE PAID BY !IR COMPETITORS ( O!R NATIONS1 !Y C\LD \T SELL !M 9 EV]Y M>KET ON ! GLOBE2 & ?AT TOO )\T A PROTECTIVE T>IFF4 ,FREE ,MONEY & ,FREE ,TRADE GO H& 9 H&4 ,! ,GOV]NM5T CAN ISSUE & LOAN ALL ! MONEY = :I* ! PEOPLE CAN GIVE ! REQUISITE SECURITY AT ! M]E CO/ ( KEEP+ UP ! SY/EM2 & ?US BY ONE FELL SWOOP /RIKE FROM EXI/5CE ,9T]E/1 ,BONDS1 & ! :OLE SPECULAT+ P[] ?AT N[ [NS & RUNS ! ,GOV]NM5T4 ,LET ! ,GOV]NM5T E/ABLI% SUB-TREASURIES ALL OV] ! C\NTRY :I* %ALL BE DEPOSITORIES = ! PEOPLE'S MONEY1 & 9 :I* ! LOANS !Y NE$ CAN BE NEGOTIAT$1 & !RE WILL BE NO MORE FIFTE5 ?\S& BROK5-HE>T$ WID[S1 ORPHANS & HELPLESS M51 WR++ !IR H&S 9 AGONY OV] ! COLLAPS+ ( ,/ATE SAV+ 9/ITUTIONS1 AS WAS REC5TLY WITNESS$ 9 ,*ICAGO4 

,TO %[ :AT A BLESS+ FREE MONEY W\LD BE TO MILLIONS ! FOLL[+ FACTS >E CIT$ :I* WILL /RIKE HOME TO AT LEA/ EV]Y WE/]N F>M]1 :O IS /RUGGL+ ON YE> AFT] YE> UND] A HEAVY WEI<T ( 9T]E/ :I* HE MU/ PAY TO KEEP A MORTGAGE FROM =ECLOSURE1 & TREMBL+ ALWAYS LE/ HE DIE & LEAVE HIS FAMILY AT ! M]CY ( HIM :O HOLDS IT4 ,! ITEM IS AN $ITORIAL FROM ! ,*ICAGO ,TIMES ( ,FEB41 #a#h#g#h1 & READS ?US3 0,A CURI\S /ATEM5T HAS BE5 PUBLI%$ 9 ,*AMPAIGN1 ,ILL4 ,! ASSESS$ VALUE ( ! REAL E/ATE ( ?AT C\NTY IS A FRACTION OV] ELEV5 MILLIONS1 & UPON ?IS !RE >E MORTGAGES RECORD$ = AB\T SIX MILLIONS4 ,! 9T]E/ ON !SE IS NE> SIX HUNDR$ ?\S& DOLL>S1 & ! TAXES RAISE ?IS BURD5 TO MORE ?AN A MILLION1 -- EQUIVAL5T TO N9E P]C5T ON ! :OLE TAXABLE VALUE ( REALTY 9 ! C\NTY4 ,! WEI<T ( ! BURD5 ?US 5TAIL$ FALLS UPON PRODUCTIVE 9DU/RY10 7H]E ! ,TIMES ADMITS :AT ,I HAVE CLAIM$ AB\T !SE EXP5SES FALL+ UPON LABOR17 0:I* IS %[N BY ! TACT ?AT ! 9T]E/ & TAXES REQUIRE AN AV]AGE ANNUAL PAYM5T ( EV]Y S\L ( ! C\NTY'S POPULATION ( TW5TY DOLL>S & FIFTY C5TS40 

0,IT WILL REQUIRE SOME?+ MORE10 SAYS ! ,TIMES1 0?AN ! FREE CO9AGE ( DADDY DOLL>S1 TO REMOVE ! LOAD :I* ?R\< RECKLESS BORR[+ IS BUCKL$ ON ! BACKS ( ! PEOPLE ( ,*AMPAIGN40 ,&1 LET ME TELL Y\1 ?IS 0SOME?+ MORE0 ?AT WILL LIFT ! LOAD LIES )9 ! P[] ( ! PEOPLE TO HAVE NOT ONLY 9 ,*AMPAIGN ,CO41 ,ILL41 BUT 9 EV]Y O!R C\NTY DI/RESS$ AS IS ?IS4 ,LET ! PEOPLE ( ! WE/1 AT ! NEXT ELECTION ( REPRES5TATIVES TO ,CONGRESS1 ELECT ONLY ?OSE PL$G$ TO VOTE = ! ISSUE ( ! PEOPLE'S MONEY1 ,GRE5BACKS1 & SO PROVIDE ?AT ! F>M]S :O >E OPPRESS$ BY ! PAYM5T ( L>GE 9T]E/ ON MORTGAGES1 CAN TAKE !M UP FROM ! ,MONEY-L5D+ ,USUR]1 BY ?IS FREE MONEY1 & TRANSF] !M TO ! GOV]NM5T AS SECURITY = ! LOAN4 

,?OMAS ,JEFF]SON DECL>$1 0,BANK PAP] MU/ BE SUPPRESS$ & ! CIRCULATION RE/OR$ TO ! GOV]NM5T TO :OM IT BELONGS40 ,CALH\N1 ,FRANKL91 ,H>RISON1 ,WEB/]1 ,HAMILTON1 & O!RS ( R5[N AS /ATESM51 HAVE CLAIM$ ?AT IT WAS ! DUTY ( ! ,GOV]NM5T ALONE1 TO ISSUE ! MONEY & CONTROL ITS VOLUME4 

,BUT IT IS CLAIM$ WE MU/ HAVE A MONEY /&>D LIKE O!R C\NTRIES1 SILV] & GOLD4 ,?IS1 LIKE MO/ ( ! O!R >GUM5TS = SPECIE BASIS1 IS A FALLACY4 ,IF A SPECIE BASIS BE NOT ! BE/ ONE = ! 9DU/RIES1 ?\< IT BE MA9TA9$ BY O!R C\NTRIES1 WE %\LD NOT FOLL[ ! BAD EXAMPLE SET BY !M4 ,WE %\LD ADOPT ! BE/ MONEY1 ?AT :I* WILL MAKE ! 9DU/RIES MO/ PROSP]\S1 & ADD MO/ TO ! G5]AL COM=T ( ! PEOPLE4 ,\R CO9 GOES TO O!R C\NTRIES AS BULLION1 & IS RECEIV$ BY WEI<T & NOT AS DOLL>S2 IS RECEIV$ AS ALL O!R COMMODITIES >E1 ACCORD+ TO :AT IT IS WOR? BY !IR SEV]AL /&>DS4 ,GOLD & SILV] B>S >E BETT] TO EXPORT ?AN CO91 & >E EQUALLY VALUABLE TO PAY :ATEV] O!R C\NTRIES CLAIM2 TO PAY BALANCES ( TRADE AGA9/ A =EIGN C\NTRY IS ALL = :I* GOLD & SILV] IS REQUIR$4 ,?AT IS TO SAY1 9 TRAD+ ) ! V>I\S C\NTRIES1 :AT WE RECEIVE AS M]*&ISE FROM !M IS PAID ) COTTON1 :EAT1 PORK1 OIL & O!R COMMODITIES ?AT WE PRODUCE 9 EXCESS ( USE2 BUT ! LACK ( !SE EXPORTS1 OR ! DEM& = !M CAN BE SUPPLI$ ) EXPORTS ( GOLD & SILV] AS PRODUCTS ! SAME AS :EAT & CORN4 

,WE RAISE TWO HUNDR$ & FIFTY MILLIONS DOLL>S WOR? ( COTTON2 FIVE HUNDR$ MILLIONS WOR? ( MEAT1 BUTT] & *EESE2 ONE BILLION DOLL>S WOR? ( CORN2 ?REE HUNDR$ MILLIONS DOLL>S WOR? ( :EAT & SO ON ?R\< A LONG LI/ ( /APLE PRODUCTS2 BUT WE PRODUCE ONLY EI<TY-FIVE MILLIONS ( ! PRECI\S METALS1 =TY-FIVE ( GOLD & =TY ( SILV]4 ,N[ IF !RE BE A BASIS NE$$ = \R CURR5CY1 :Y NOT MAKE IT ( ALL ( !SE4 

,ONE ( ! SPECIAL PA9S IS1 ?AT A MONEY ?AT IS NOT R$EEMABLE1 AT ! OPTION ( ! HOLD]1 9 GOLD OR SILV]1 HAS NO /ABLE VALUE4 ,! REASON ?AT ?IS IS URG$ HAS BE5 ALREADY %[N TO BE TO KEEP ! MEASURE ( VALUES TO ! N>R[ LIMIT ( ! PRECI\S METALS1 OR TWO ( !M1 ( :I* WE POSSES BUT LITTLE1 & ( :I* WE PRODUCE ! LEA/ ( ALL \R /APLES4 

,GOLD & SILV] :5 CONSID]$ 9 ! LI<T ( COMMON S5SE >E LIKE O!R COMMODITIES & HAVE ! SAME CAPACITY = PAY+ DEBTS1 HAVE ! SAME SORT ( VALUE AS ANY O!R COMMODITY4 ,! FICTITI\S VALUES GIV5 !M OV] O!R PRODUCTS ( \R SOIL IS = SOME O!R ?AN UTILIT>IAN PURPOSES1 TO FACILITATE OR MAKE EX*ANGES4 

,WE DEM& ?AT ! ,NATIONAL ,CURR5CY %ALL NOT BE MADE R$EEMABLE1 BY ANY?+1 SAVE ?OSE ?+S ?AT ! H>DY H& ( LABOR CO9S \T ( ! E>?1 OR FROM ! RAW MAT]IAL4 ,?IS IS ! R$EEMABILITY1 ! ONLY R$EEMABILITY ?AT ! 9T]E/S ( ! PEOPLE DEM& = MONEY1 & ?IS IS ! R$EEMABILITY !Y >E GO+ TO ISSUE !IR CURR5CY UPON1 ! OBJECTIONS ( ! GOLDITES TO ! CONTR>Y1 NOT)/&+4 

,IF A CURR5CY WILL AT ALL TIMES PUR*ASE EV]Y ?+ A P]SON WANTS1 :AT O!R P[] DOES IT NE$ TO MAKE IT GOOD8 

,! VITAL NECESSITIES >E1 FIR/3 ?AT LABOR %ALL PRODUCE 5\< TO SATISFY ALL ! POSSIBLE WANTS ( \R PEOPLE2 SECOND ?AT EA* P]SON %ALL HAVE 5\< ( SOME?+ ) :I* TO OBTA9 HIS PORTION4 ,!RE >E NO O!R NECESSITIES4 ,!N H[ %ALL ?OSE CONDITIONS BE SECUR$2 & SO SECUR$ ?AT !Y CAN NEV] BE SUSP5D$8 ,H[ %ALL A CURR5CY BE 9/ITUT$ ?AT ! PEOPLE CAN ALWAYS GET & PUR*ASE )4 ,SOLVE !SE & ! QUE/ION ( ! NECESSITIES ( LIFE IS SETTL$2 AFT]W>DS SOME LESS IMPORTANT ISSUES CAN BE PROP]LY ATT5D$ TO4 ,! REPLY IS 0EASILY40 ,BUT LET ! ILLU/RATION BE FIR/ MADE ON A SMALL SCALE SO ?AT ! PR9CIPLE ON :I* IT /&S MAY BE PLA9LY DEMON/RAT$1 !N IT CAN BE APPLI$ TO ! :OLE PEOPLE4 ,?REE L>GE 9DU/RIALLY ORGANIZ$ FAMILIES -- ONE AGRICULTURAL CONSI/+ ( ?IRTY ?\S& P]SONS1 ONE ME*ANICAL CONSI/+ ( FIFTE5 ?\S& P]SONS1 & ONE M]CANTILE CONSI/+ ( FIVE ?\S& P]SONS -- SETTLE A NEW C\NTRY2 SAY1 AN ISL& NEV] BE=E 9HABIT$4 ,EA* FAMILY C>RIES ACTUAL WEAL? 7NOT MONEY7 9 COMMODITIES1 PRODUC$ & MANUFACTUR$1 MA*9]Y & /OCK1 TO MAKE IT POSSIBLE = !M TO LIVE :OLLY )9 !MSELVES1 TO ! VALUE ( FIVE MILLIONS DOLL>S4 ,BE+ ?OR\<LY ORGANIZ$ AS FAMILIES !Y W\LD NE$ NO POLICE GOV]NM5T4 ,ALL ! PUBLIC BUS9ESS !Y W\LD HAVE1 W\LD BE ( AN 9DU/RIAL & COMM]CIAL *>ACT]4 

,!IR COMMON 9T]E/S W\LD BE COMM]CIAL1 & ! 9DIVIDUALS *>G$ ) !IR KEEP+1 W\LD BE ?OSE DEEM$ ! BE/ JUDGES ( :AT W\LD CONTRIBUTE TO !IR PROSP]ITY4 ,:5 !SE REPRES5TATIVES %\LD MEET1 !Y W\LD SAY1 ONE ( ! FIR/ ?+S WE NE$ TO 5ABLE \R FAMILIES TO TRANSACT BUS9ESS ) EA* O!R1 IS A CURR5CY4 ,:5 A ME*ANIC NE$S A SACK ( FL\R1 IT MAY NOT BE POSSIBLE = HIM TO DELIV] AN >TICLE ( HIS [N MANUFACTURE AS ! PAYM5T2 & :5 ! F>M] WANTS A PAIR ( PANTS1 HE MAY NOT HAVE H>VE/$ HIS CROPS1 H5CE LET US AGREE AMONG \RSELVES TO ISSUE A MILLION DOLL>S CURR5CY ( V>I\S D5OM9ATIONS :I* %ALL BE A LI5 =EV] UPON ALL ! PROP]TY WE BR\<T ) US1 & ALL WE %ALL ADD TO IT 9 ! FUTURE2 & A LEGAL T5D] = ALL PURPOSES = :I* MONEY IS REQUIR$ BO? PUBLIC & PRIVATE4 

,CAN !RE BE A BETT] MONEY = ?IS PEOPLE ?AN ?IS W\LD BE8 ,9DE$ ISN'T IT ! ONLY POSSIBLE MONEY !Y4 C\LD HAVE ?AT W\LD BE SECURE8 ,I KN[ BANK M5 WILL SAY SOME \<T TO TURN BANK]S & ISSUE CURR5CY SO ?AT IT C\LD BE R$EEM$4 ,!Y %\LD RA!R SAY PUT \T !IR CURR5CY & FAIL TO TAKE IT 91 AS BANKS USUALLY DO1 :5 ! PEOPLE CALL UPON !M 9 A BODY TO FULFILL !IR PL$GES4 ,SUPPOSE !SE FAMILIES HAD GOLD & SILV]2 W\LD ?AT MAKE !M A BETT] MONEY8 ,NO6 ,S9CE LET !M BE AS VALUABLE AS !Y MAY BE AS METALS1 !Y CAN NEV] BE SCI5TIFIC MONEY4 ,!Y >E WEAL?1 :I* MONEY CAN NEV] BE4 ,MONEY IS ONLY A REPRES5TATIVE ( WEAL?2 A PROMISE ( WEAL?4 ,IT IS AN IMPOSSIBILITY = A MAN OR ?+ TO BE BO? ! REPRES5TATIVE ( O!R M5 & ?+S1 & ! M5 & ?+S !MSELVES4 ,ONE CAN NOT BE PR9CIPAL & SECOND ALSO4 ,SO IF WEAL? BE PR9CIPAL1 MONEY MU/ BE REPRES5TATIVE4 ,MONEY IS REPRES5TATIVE & ALWAYS HAS BE51 & WEAL? IS PR9CIPAL & WILL BE4 ,:5 ,I SAY WEAL?1 ,I MEAN ! PRODUCT ( LABOR1 NOT ! M]E AGGREGATIONS ( PROP]TY 9 ! H&S ( ! N[ RI*4 ,GOLD NEV] WAS & NEV] CAN BE SCI5TIFIC MONEY4 ,GOLD EV] WAS & EV] WILL BE WEAL?1 & AS SU* CAN BE REPRES5T$ BY MONEY2 BUT ! MONEY ?AT W\LD REPRES5T ! GOLD & SILV] ( ! C\NTRY1 W\LD NOT REPRES5T ! FIFTY BILLIONS ( O!R WEAL? ?AT IT POSSESSES & C\LD NEV] BE MADE TO DO SO UNLESS ! VALUE ( ?AT FIFTY BILLIONS BE %RUNK BY F9ANCIAL *ICAN]Y TO LESS ?AN TWO HUNDR$ MILLION DOLL>S4 

,! GOLD M5 HAVE BE5 TRY+ TO DO ?IS = ! LA/ T5 YE>S1 & SO F> HAVE HAD PRETTY GOOD SUCCESS4 ,%ALL !Y SUCCE$ COMPLETELY OR NOT1 IS A QUE/ION = LABOR TO ANSW]4 ,N[ ! ,GRE5BACK CURR5CY IS JU/ SU* MONEY AS ?AT W\LD BE :I* SU* COMMUNITIES W\LD NATURALLY ADOPT2 & IF IT W]E ISSU$ JU/ AS !Y W\LD ISSUE !IRS IT W\LD GIVE ! GREATE/ POSSIBLE PROSP]ITY TO PRODUCTION1 & ! MO/ COM=T & EASE AMONG ! PEOPLE--EXCLUD+ ! NONPRODUCTIVE CLASSES = :OM WE HAVE NO USE4 ,WE >E VIRTUALLY ?REE GREAT 9DU/RIAL FAMILIES3 AGRICULTURAL1 M]CANTILE & ME*ANICAL4 ,WE CAN & \<T TO LIVE )9 \RSELVES1 SAVE 9 SU* RESPECTS AS IT IS ADVANTAGE\S TO EX*ANGE ) O!R NATIONS2 WE HAVE BUT LITTLE GOLD & SILV]1 & W\LD BE BETT] (F IF WE HAD NONE AS 9DU/RIAL CLASSES4 ,AS ! PRODUC]S ( ! FIFTY BILLIONS WEAL? !RE IS1 & ! ONE BILLION FIVE HUNDR$ MILLIONS YE>LY ADD$ TO ?AT AGGREGATE1 WE CAN AGREE TO ISSUE A DOLL> ,GRE5BACK = EV]Y FIFTE5 DOLL>S ( ?AT WEAL? & CAN MAKE IT LEGAL PAYM5T = ALL DUES1 PUBLIC & PRIVATE1 & A LI5 =EV] UPON ALL WEAL? EXI/+ & ALL ?AT %ALL BE ADD$ TO IT1 OR1 ! BETT] WAY TO SAY IT1 A LI5 =EV] UPON ! ?REE GREAT 9DU/RIES1 :I* AGREE TO RECEIVE IT = EV]Y?+ ?AT !Y PRODUCE4 ,:AT BETT] MONEY C\LD BE MADE ?AN ?IS1 R$EEM$ EV]Y TIME ?AT ANY ( ! 9DU/RIAL BODIES %\LD RECEIVE ONE ( !SE NOTES = ANY?+ ?AT !Y %\LD HAVE TO SELL4 

,LET ! MASK ) :I* CAPITAL HAS HOOD-W9K$ LABOR1 FALL =EV]1 & LET A MONEY BE ADOPT$ BAS$ ON ! PRODUCTS ( ! TOIL]'S H&S1 ! R$EEMABILITY ( :I* RE/S ON !IR WILL+NESS & CAPACITY TO ADD TO ?AT BASIS YE> AFT] YE> =EV]4 ,IS IT /RANGE ?AT LABOR]S HAVE NOT LONG S9CE HAD ?IS ALL >RANG$8 ,NO2 IT IS NOT4 ,!Y HAVE EMPLOY$ ! NONPRODUCTIVE CLASSES TO ?9K = !M POLITICALLY & 9DU/RIALLY1 JU/ AS SOME HAVE EMPLOY$ M9I/]S TO ?9K = !M RELIGI\SLY4 ,UNTIL QUITE REC5TLY MO/ PEOPLE HAVE SWALL[$ :ATEV] EI!R ( !SE CLASSES HAVE (F]$ )\T QUE/ION+2 BUT ! QUE/ION+ HAS BEGUN 9 E>NE/ ! CURTA9 WILL SOON RISE UPON A NEW SC5E 9 ! DRAMA ( ! 9DU/RIES AS WELL AS ?AT ( RELIGION1 & REVEAL ! GR& SPECTACLE ( A :OLE NATION -- FIFTY MILLIONS ( PEOPLE -- DO+ ITS [N ?9K+1 & GUID+ ITS ACTION BY ITS ?\<T 9 ALL DEP>TM5TS ( LIFE4 ,:5 ?IS %ALL COME1 :5 ! CURTA9 %ALL BE RUNG UP TO %[ ?IS SC5E1 ! /> ( HOPE = D[N-TRODD5 LABOR WILL RISE EV5 TO ! Z5I?1 %$D+ ITS B5IGNANT RAYS UPON AN EMANCIPAT$1 PROSP]\S1 HAPPY PEOPLE4 

,FROM 3 ,REVOLT,LIB4COM4 

,*RONOLOGY 3 
,NOVEMB] #c1 #ahh 3 ,A ,LECTURE ON ,9DU/RIAL & ,F9ANCIAL ,PROBLEMS -- ,PUBLICATION4 
,SEPTEMB] #b#b1 #bag 3 ,A ,LECTURE ON ,9DU/RIAL & ,F9ANCIAL ,PROBLEMS -- ,ADD$4 
,DECEMB] #c1 #bba 3 ,A ,LECTURE ON ,9DU/RIAL & ,F9ANCIAL ,PROBLEMS -- ,UPDAT$4 

 FILE G5]AT$ FROM 3  
HTTP3_/_/REVOLTLIB4COM_/