“MENTION MONEY AND THE WORLD IS SILENT.”
“NOTHING STINGS SO BITTERLY AS THE LOSS OF MONEY.”—Livy.
CHAP. V. Sydney. January, 21, 1894.
Anarchists are described by the Premier Bishop of Christendom as “lost men exhibiting remarkable audacity in ruining public authority.” In the heyday of Imperial Old Rome the corrupt priesthood of the Pagan Shrines denounced the early Christians in almost the same words. It is also a striking coincidence that Christ was himself arraigned, tried and executed upon a charge of endeavouring to undermine and ruin Authority, as represented by Tiberius the Ruler, Pilate the Judge, and Caiaphas the High Priest.
The Premier of N. S. W. solemnly informs us that a number of Democratic M-P’s (who are not already bargained for) have been approached in order to obtain their valuable support for hurrying through the Bank Notes Bill. What were they approached with? Promises of billets, shares, cheques or cash on delivery! If with hard cash where was it procured? By the way Italian members of parliament were very neatly approached by the bank of Rome with a £1,000 for each, and were thereupon usually energetic in pushing through a Legal Tender Bill under the operation of which the Nation had been bankrupted & impoverished. The French M-P’s were also curiously enough successfully approached by Baron Hirsch to pass the panama Canal Bill which cost France £60,000,000 sterling. Such swindles only happen in far away and benighted Europe—never in Australia—no never.
Land for the Landless and homes for the Homeless—in Matabeleland. Farms have been staked out representing 1,000,000 acres for the men who worked the maxim guns. The spoils for the Strongest is the only practical politics for men who mean business. Far too much sentimental economics spouted by Australian Democracy. Matabeleland was a vast cattle station last year—next it will probably be covered with smiling homesteads and fields of waving grain.
JOHN DAVIES & Co (Limited)
John Davies C M G seems to be the sole proprietor of the Pitt Street Temperance hall although the building was erected and afterword’s subsidised by government grants- “The N S W Alliance for the suppression of Intemperance” is the nominal owner but Davies & Co seems to be the Alliance as far as finance is concerned. It is probably five years since outsiders saw a balance sheet although large sums are annually collected as rent and subscription—to be spent God knows how. The property is worth probably £20,000 and it is a crying shame that a public institution established for a beneficent purposes should practically become the private property of one or two men and be used for purposes that would make its founders turn in their graves. We believe a set of Trustees are in existence somewhere, and that the outgoing set nominates the incoming set. If the business of any institution is carried on in this “happy family” style it must soon be bankrupted or transformed into a private enterprise concern. It seems that there is mortgage and an overdraft probably with the Commercial Banking Co- No such Institution is perfect in this land of Liberty and Light without those two essentials. Christian Churches, Mantrap Hotels, poison-concocting Breweries, Charitable Societies and Good Templar Lodges are all more or less profit gathering agencies for those murderous mills of Dagon, generally known as Joint Stock Banks. Men whisper that John Davies & Co are paying off the mortgage in a most peculiar way—by means of a Life Insurance Policy; the premium being financed by the aforesaid astute Trustees. It would do no harm if some official inquiry were made into the management of an institution that is enveloped in a cloud of such impenetrable mystery.
THE PULSE OF THE UNION BANK rises and falls in a very unusual, erratic, and alarming manner—with a general tendency towards feebleness. The Union has had a lot of very doubtful business, especially in Victoria. Its good business probably balanced its bad up to the middle of ‘91. It is impossible to keep losing transactions wholly sub roar and therefore when subsidiary companies default it always injuriously affects the stock quotations of the bank than financed them. After receipt of its new year balance sheet further attention will be paid to the Union. Its headquarters are in London, the monetary storm-centre of the year ‘94. Even if the threatening war clouds roll by, not ‘all the kings horses nor all the kings men’ can save the balloon-like Credit System of modern Carthage from world-shaking Breakdown.
Australian ‘Statesmen’ are general the mortgaged bond-slaves of the Great Financial Mills. They are under the whip of Shylock all the time they are lying and posturing to the easily satisfied mobs of hurrahing and hungry slaves. For instance John Donaldson, an M L A who lately went insolvent, was indebted to the Q Deposit Bank £1,000—to the Commercial of Australia—to the notorious Mathew Davies Gang £2,800—to the Queensland National £3,000. Now suppose those banks desired special legislation to facilitate Usury Swindles and Land Stealing, would not Mr. Donaldson be compelled to vote as the manager dictated; or risk foreclosure, bankruptcy & ruin? It is thus easily understood that Progress and Prosperity can never be other than intermittent as long as we choose out Legislators from the share registers of Land and Wool Pawnoffices or the hypothecated human spaniels of local and foreign Bankers. Another instance in proof of the above conception is the insolvent schedule of Henry Gore ex M L C Melbourne—£24,000 owing to the Bank of New South Wales—the merchantil £2,300. In New Zealand the plundering Continuous Ministry were almost all under harrows. Up Queensland way the Banks own Mellwraith & Company body and soul. As for Victoria and New South Wales Parliaments and Ministries are as so many monkeys on a chain gibbering on barrel organs while Rothchild or Mundella or Joshua, or Levi, calmly turns the handle and grinds out amid the plaudits of the base the vulgar and the wealthy lower orders, delectable tunes from the psaltry of King Shentpershent.
Upon “the unmeshed and defaulting bantam states of Australasia” one of the most clear visioned Journalists in Europe writes thus—“Let them have their parliaments, and their dissolutions and this puppet up and that puppet down, till they get weary of it and INVENT SOMETHING BETTER for themselves. If they cannot learn to govern themselves, well they must sink under control of some native autocracy, born of a demagogue ridden social pithlessness. Their loads now crush them down. In a year or two they will be in a state of despair. It will be totally impossible for them to meet the enormous charge for interest of all kinds which have been laid upon them, and not only will they have insuperable difficulty in meeting these charges so far as incurred by their ‘governments’, but the very life will be bled out of the People by the dead mortgages under which they stagger along. This land is not free. The would-be settler cannot get a homestead to make all his own by cultivation in any part of the country where his land is worth having. All has been grabbed and jobbed and mortgaged. ‘This must be put to an end to by some means or another’.
Many of the Insurance offices have lost heavily from general depreciation and mortgage default. The A M P for instance, is writing down values. Mr. Teeee its actuary is something of a financial Jesuit and he in a cloud of words informs us that the company is not booming. The Directors of the A M P are all more or less connected with the reconstructed banks—notably Sir Joseph Abbot speaker of the Legislative Assembly who so despotically used the Cloture to pass Bank Bills in which he was pecuniarily interested.
“It is therefore prudent to expect that within a years’ time or less some of these reconstructed banks will again topple over. Then the whole turmoil will begin again. Distrust now slumbering will break out anew, and probably cause several of the banks now standing to go over to the majority. The next state of these unhappy (AUS) settlements will therefore be a good deal worse than the present. It is an outlook inexpressibly dreary but where dishonesty & lying take the place of straight forwardness there is nothing else to be expected. Such an outcrop of unabashable blackguardism as these Austr Bank Suspensions have exhibited never took place before in the whole history of finance.” —Investors Review
"THE STANDARD BEARER" Edited By *HARD KASH - CHAP. V. Sydney. January, 21, 1894.