PERILOUS BECAUSE OF GREED
Piling Up Fabulous Hoards — War Profits and the Sufferings of Others ANY one who is following the reports given out from Wall Street in regard to the manufacturing activities of the nation, must be impressed with the thought that the kings and princes of finance are crazed and maddened by their insane greed to grasp wealth. Mercantile Marine’s earnings for March are at “a rate of about 65% for preferred.” It was officially published, following the recent directors’ meeting of United States Steel, that their earnings for the first quarter of this year were $60,713,624. The next day after the announcement of these tremendous gains of United States Steel for the first quarter of this year, Wall Street gave out that this big corporation would add about $42 a share to its surplus, a sum that would equal $212,000,000, this surplus to be in addition to the dividends that are declared from quarter to quarter for the stockholders. Wall Street also informs us that American Locomotive’s earnings for March will be at an annual rate of about 60%. The Midvale Steel Company is working on a $60,000,000 order for rifles, and Wall Street estimates that the gain of this corporation will be $30,000,000 for this year. The profits for the General Chemical Company, according to the estimates of Wall Street, will be 75% for this year, after all deductions are made for depreciation, and what is set aside for surplus, etc. The Submarine Boat Company is to show a profit of $15,000,000 on its war contract. Of this amount, $12,000,000 will come from the construction of submarines and launches, and $3,000,000 in the shape of royalties from foreign governments that are using the plans of the company for the construction of boats. We are informed that this company will this year have earnings that will be equivalent to nearly three and a half years’ dividends at the present rate of $6.00 a share. Concerning the Reading Company, Wall Street says, “Estimates of upward of 25% earnings on Reading common this year appear conservative.” The same high financial authority, referring to the Midwest Refining Company, says, “If the present rate of earnings should be maintained throughout the year,” it “will show better than 30% on its outstanding eighteen million capital stock.” The foregoing are only a few of the facts and statements that might be gathered at length from the Wall Street reports. The Barrier to World Peace
IT will be observed that the corporations that are making these tremendous gains are in the manufacturing or shipping industries that permit them to reap these large profits from war orders. The war furnishes an excuse for the leaders in finance to advance prices on everything. The orders for war supplies from the contending nations are taken at a tremendous profit. The shipping of these supplies to Europe is of course at a big risk, and the shippers take advantage of this to charge high prices for their services. And while millions of suffering men and women are praying for peace, there are a few thousand financial lords who are taking advantage of this situation, regardless of suffering and sorrow, to pile up their fabulous hoards. How striking are the words of the apostle Paul, that the last days would be made perilous by the love of self and the love of money! How tremendous, how overwhelming, are the conditions of this time which show the fulfillment of the inspired apostle’s prediction! It is generally conceded that the real cause of the Old World war, and the reason why it is prolonged through such rivers of blood, is desire for commercial supremacy. As never before in the world’s history, men to-day are selling their souls that they may gratify their greed for gain. The greatest and most insuperable barrier to the peace of the world is the selfishness of men, and their love for money. At all hazards, they will seize and hold the trade of the world; and they will promote and extend this trade regardless of gore, suffering, sorrow, and distress. “But know this, that in the last days grievous times shall come. For men shall be lovers of self, lovers of money.” 2 Tim. 3: 1, 2.