Our Financial Condition by Stephen Nelson Haskell

Seventh-day Adventist Missionary Society · Oakland, Cal. · Nov 8, 1883

Our Financial Condition.

By Stephen Nelson Haskell

WE have never reached a year when there was such marked evidence that the providence of God was opening the way before us, and giving success to the truth, as the present year. There are two features which show this. First, a class of humble men that God is raising up throughout the country, who are acting as missionary workers in the cause of present truth; and secondly, a willingness on the part of the friends of the cause to make great sacrifices to carry forward the work. This is shown by a disposition to free our institutions from embarrassment, and place them upon a substantial basis, which will be a guarantee against any financial crisis which may occur. Not only has this last feature been manifest in reference to our institutions at Battle Creek, Mich., but also upon the Pacific Coast. For this we thank God, and feel grateful to our brethren for their liberality.

A few years ago the Publishing Association at Oakland, Cal., was paying as high as twelve per cent. for money, and this to parties who had no interest in the truth. And, notwithstanding the educational work in California has cost the friends of the cause in that Conference over $30,000, yet, at the same time, the interest paid by our institutions has been reduced by money being loaned to them without interest, or at a low rate, by the friends of the cause and by donations to the various enterprises, so that the average rate of interest now paid is less than seven per cent. We know that this will be encouraging to all of our friends; and now we are prepared to make another advance move in this direction. Our institutions ought not to pay any interest, unless it be to those who have but little of this world's goods and are dependent upon the earnings of their money for their livelihood. Such individuals should ever be specially regarded.

We have decided to reduce the rate of interest between now and Jan. 1, 1884, to five per cent., unless it be in some special cases. It has ever been found that investments in any of our institutions are safe. During the entire history of the work not one dollar has been lost which has been loaned to, or deposited with, any of our institutions. The cause has passed through the various financial crises in the country, but its friends have ever stood ready at such times to give both their moral and financial support. This has been truly remarkable. Stocks have had their ups and downs. Banks which have been considered perfectly safe have failed.

Notwithstanding our work is a purely missionary work, and to carry it forward has called for an increased amount of means each year, we can understandingly say that God's special providence has been over every enterprise connected with the promulgation of the truth of the Third Angel's Message of Rev. 14:9-12. As the work has advanced, there have been men like Zaccheus, Luke 19:8, 9, and a few like Barnabas, who made a surrender of his possessions, see Acts 4:36, 37, and then like him gave themselves to the work. Such men have provided themselves with "bags which wax not old, a treasure in the heavens which faileth not, where no thief approacheth, nor moth corrupteth." God would not have his people distressed for want of the comforts of life, and this is unnecessary to sustain the cause of God.

We now invite all our brethren and others who have money loaned to our institutions on the Pacific Coast, and are drawing interest therefrom, to reduce that interest to five per cent. Those who do not feel free to do this, except it be some special cases as above referred to, we shall ask them to receive the principal. We appreciate the kindness of those who have thus far aided us in reducing the interest, but feel it a duty to take this step in view of the nature of the work. There are fields to be entered where as yet the living preacher has not gone. Publications should be sent out in larger quantities than we have yet been able to do. Australia, New Zealand, and the islands of the Pacific Ocean are sending forth the Macedonian cry, "Come over and help us," and we cannot feel that it is right, while these fields are calling for help and our brethren are liberally donating to carry the truth to them, that so much of the earnings of our Publishing Association should be paid for the use of money.

And the school, if it fills the design God would have it in educating men and women to act as missionaries, will never become a source of income. All can readily see that, should the school continue to pay large interest, it would consume the capital stock which our brethren

have freely subscribed. With the increasing demand for our publications, it is evident that the day is not far distant when the printing presses and the talent at our Publishing House will be more fully employed in printing present truth. As this is the case there will be less profit arising from the labor performed. In proportion as our brethren create a demand for our publications, those at the SIGNS Office will cheerfully turn their attention more exclusively to this work. And it will yet be seen that the obtaining of the various power presses and increasing the faculties to do job work has been all in the providence of God, to educate workers and to give an experience which it will soon be necessary to devote exclusively to the work of present truth. It is evident we are fast approaching the end. The coming of the Lord draweth nigh, and the Lord would have his people act, not from impulse but from principle, realizing that what we do to advance the truth of God must be done quickly. The judgments of God are already in the earth, and we believe that those who are interested in the promulgation of the solemn truths we profess, will cheerfully co-operate with us in this move.

S. N. HASKELL.