_Auri Sacra Fames_
"_The accursed thirst for Gold_"
A week after our first meeting, we again met in Sun-Rank Banard's
library. Addressing Mr. Galoway, he said, "I am very sorry to hear
that you have failed to find the missing element for the proposed
radio transmitter. You certainly tried hard enough. But don't let this
discourage us. In a conference with several of our Supreme Council
members, we decided that it might be a good plan to take Lieutenant
Balmore back to Earth and let him parachute down right over his home.
He can disseminate the experiences he has had on our planet and, at
the same time, acquire an airplane with the best high frequency radio
transmitter. Then he can contact us on our airship at a prearranged
time and place.
"Before he leaves, it may be a good idea to take down in shorthand
notes and memorize a convincing lecture with illustrations which may
succeed in influencing and possibly converting terrestrial men to our
way. I am now going to show you television and moving pictures of some
of the gruesome happenings on Earth. I may find it necessary to offend
many of your people on Earth by exposing their grim way of living and
I will even have to exhort them; but I feel that my method may be the
best way to arouse serious attention. You will have to steel yourselves
against not only what I am going to tell you but what you will see
with your own eyes of the horrible ordeal on Earth in both past and at
present. These pictures were shown only to a few Martians. I certainly
would like to show them to your Earth peoples, or at least to your
ruling class. Your economic system is so strongly entrenched that I
doubt your living generations can or will even try to take advantage
of my findings or counsel. I will have made a start if the coming ones
will benefit. Our combined talks, and suggestions will be recorded and
translated into each of your different languages. When the occasion
arises, you may reach your people in your own language.
"It will be important for each one of you to be able to give the
history of your adventures, the details of your landing experience.
Vividly contrast our way of living on Mars with the way of living on
Earth; then you may in your own way tell them of the lecture I shall
give you now.
"We have found that human beings here and on your Earth have
potentially the same physical and mental caliber. Nature implanted in
all of us the primitive instincts of selfishness, acquisitiveness,
and brutality. By some good fortune our primordial ancestors on Mars
started to cast off and definitely curb these instincts and aversions
by good judgment, reason and repression, and have forcibly continued to
do so until evolution has eliminated our undesirable traits.
"Our early progenitors ingrafted in us high ideals, thus developing in
us a high mentality; fortunately we have not inherited your instinct
to desire wealth and power for individual self. We, like yourselves,
require good health, love, happiness, good nourishment, warm and
fashionable clothing, sanitary, and comfortable homes, safety against
want and old age, dependence, medical care, luxuries, and honors.
"On our globe we have intensified the production of natural resources
from our lands, seas, and air until now we can produce more than we
actually need. Every Martian gets his necessities free as a matter of
right and his expensive luxuries and honors according to the merit of
his achievements.
"Your forefathers, even though they were groping for the best way
of life, through ignorance, gradually drifted into the path of
least resistance. From time immemorial you have always desired the
acquisition of more wealth than you needed, to give you power over your
fellow man.
"We on Mars have been objective observers of your sick economic system.
We have carefully studied its functions. Although I do not pretend to
be an expert, I have consulted with our own experts, and feel myself
qualified to make suggestions. From the analysis we have made, we
call it moneyism which is the root of your economic evils. Your whole
existence centers around your desire for money, and you are handicapped
in that you must have money to live even a comparatively normal
existence.
"In nature, only living matter is productive. But contrary to natural
law, you have created money, interest and reproductivity into an
unnatural body, that has elements of the corrupt.
"I am not going into the detailed dogmas of your economists, nor will I
define them and their functions; but I will try to give you a summary
of the history of money, past and present.
"Money started in your ancient times, as a barter system.
"Beginning by gradual evolution in your stone age, you started with
living money like cattle, slaves, next came shells, colored fancy
stones, stone axes, and tools. Then your earth man discovered iron ore,
mining and smelting. At that time iron was scarce and became the most
valuable metal of the time. You forged it into lance points, arrow
points; then into axes, knives, swords, arm and leg bracelets, using
these articles as a medium of exchange.
"You afterward discovered silver, gold, other metals, and precious
stones. With your innate craving for self decoration, you forged golden
crowns, medals, belts, arm and leg bracelets for your leaders or kings;
and then earrings, necklace, finger, and nose rings, and arm and ankle
bracelets for your sweethearts, wives, and daughters. Thus, the more
scarce and rare the metals, the more valuable they became, starting the
medium of barter and exchange in metal bullion and coins.
"You find an account in your Bible.
'In Genesis XX, 15, "And Abimelech said, Behold, my land is before
thee; dwell where it pleaseth thee." 16, And unto Sarah he said,
"Behold, I have given thy brother a thousand pieces of silver; behold
it is for thee a covering of the eyes to all that are with thee, and
to all others. Thus she was reproved."'
"The American Indians and white settlers used wampum as money. Tobacco
government warehouse deposit certificates were also used as money.
"In some of your Southern Pacific Islands your cannibal tribes used
compressed human heads and skulls to purchase their wives; in Africa
ivory elephant tusks were used and others of you have used a great many
other mediums of exchange.
"Mr. Norman Angell, one of your economists, in his book, _The Story of
Money_, gives a clear description of the uses of money. He says it is
used
"As a medium of exchange, a measure of value, a standard of deferred
payment, and as a store of value."[21]
"Mr. Victor L. Clark, one of your authors, in his book _What is Money_,
says that
"It is something with which we can buy goods and services."[22]
He further writes:
"In the 16th century, 'a new aspect of credit appeared.'[23]
"deposit banking developed out of an ancient custom of leaving money
in safe keeping with responsible merchants."[24]
"In the 16th century banking by check system was started in Amsterdam
by large Dutch Banking Companies, bringing into existence your present
system of moneyism. Later, London goldsmiths began to create bank money
by issuing receipts or other paper instruments originating out of money
in bullion of copper, silver and gold by weight deposited with them, or
loaned out by them, on which they paid out or received interest.
"This practice of saving and getting interest on money started your
moneyism system, gradually developing into your present stupendous one
which holds in its power every one of you on Earth.
"Where the profit angle is concerned, you seem to forget and not to
adhere to traditional and religious custom and laws.
"It may be unknown by many of you, that the receiving or charging
of interest, was, and still is condemned in most of your religious
scriptures, as immoral, illegal, and sinful.
"During your Roman era, and even for some time afterwards among your
world nations interest charging was severely punished as a crime.
"Interest charging, contrary to your religious precepts, is now not
only legal, but justified, and is the fundamental principle of your
moneyism.
"Every one of your nations and states legally permits a different
standard level of interest plus premiums, commissions, and other
charges. In some of them it has reached high usury proportions.
"Land and commercial moneyism, in existence for so long, brought on
your money and industrial financiering. Inasmuch as you gentlemen come
from the United States of America, the foremost financial country of
your world, we had better concentrate on it.
"Don't let us confuse your money system with your form of government,
or political economy with your political science. They are two
different, and distinct entities.
"Your founding fathers certainly originated a sound form of government.
You can be proud of your constitution, your three branches of
government, your bill of rights. We on Mars feel it is the best
government on your earth, outside of your economic system, in many
ways similar to ours. As your traditional and very ancient custom
for the benefit and protection of your citizens and for the purpose
of withholding its control from greedy, monopolistic or dishonest
individuals, as well as guarantee its uniform value, your government
was compelled then, as it is duty bound now, to assume the many
responsible and most important money functions, as well as create,
promulgate, and enforce its laws, developing the following bureaus and
departments. The bureaus of the mint, engraving, the office of the
treasurer, register of the treasury, controller of currency, the farm
loan bureau and the federal reserve system.
"Thus Congress, the Treasury, and the Federal Reserve, are the
fountain heads of your money and moneyism; your banks, its multiplex
reproduction incubators, and foster parents reproducing it with
lightning rapidity, through interest, compound interest, dividends,
bonuses, premiums, commissions, dues, rents, and profits. Your
commercial and investment banks and your trust companies receive,
pay out, finance foreign credits, underwrite and distribute new
securities, and buy government and state bonds. There are more than
14,855 establishments, with arteries in more than 20,000 large business
savings and investments. National and state banks and trust companies
are located in all your large and small cities. Many of them are
members of the Federal Reserve Banks. Your 300 large life insurance
companies and all other lesser ones, your great number of private
bankers, your financial investment, loan, and mortgage companies,
your pawn and stock brokers, and your many other financiers control
the loans of money. They loan it on stocks, bonds, notes, commercial
paper, collateral securities, on contracts of future deliveries of
all staple commodities, imports, exports, real estate mortgages; to
nearly all of your industrial, commercial houses and utility companies,
transportation, shipping, your farms, your business, your home, your
furniture, your food, your automobiles, trucks, your jewelry, your
clothes, your tools, your wages, and anything you possess of value.
Even on your false teeth. That money loaned to you is derived from your
savings, dues, and premiums.
"Bonus and other charges and loans to you are as high as the companies
can get. Some of them ask the highest usurious rates allowed by your
different legal state rates, and other charges are added--as much as
they can milk out of you. Note that:
"The civic agencies conducting the Dallas, Texas loan shark fight
found that interest as high as 1,131.4%, over 3% per day, was charged
gullible victims. The lowest interest rate was 120% per annum, and the
average 271.68%."[25]
"Money circulation and interest are the most expensive operations in
your moneyism. Mr. Norman Angell in his book _Story of Money_ calls it
'Velocity Circulation.'[26] Money travels rapidly from hand to hand,
from one pocketbook to another, from bank to bank, to borrower or
drawer, in constant circulation.
"Has any one of your economists calculated how many times an active
one-dollar multiplies itself in a year from the time it is first
issued from the Treasury? How much does it earn in interest, compound
interest, commissions, bonuses, dividends, and profit gain from
constantly being shifted from person to person, bank to bank, and loan
to loan? Or how many times does the actively circulated dollar change
hands per day, month, or year? Your World Almanac, 1950, page 716,
gives the deposits for the year 1949 as one hundred and fifty-five
billion dollars, and on page 715, money in circulation for 1948 of
$28,224,000,000. Every one of these dollars must have earned quite a
lot in interest and must have multiplied itself many times on its rapid
velocity circulation.
"How about your floating currency, in safe deposit vaults, pocketbooks,
pockets, or hidden away underneath mattresses and in hundreds of
nooks? How much of it is in the hands of foreign holders all over the
world? And in their banks going through the same interest-earning and
loaning-out processes?
"For your convenience in receiving, withdrawing, and checking out your
money and for other services that your bank performs for you, you are
being charged in many ways. The banks do not allow your money to lie
idle. It must work and earn interest and other charges over and over.
"Other powers in your moneyism are your Stock Exchanges and Boards
of Trade. Security trading has developed and perfected these Stock
Exchanges to the point where they are the main financial markets in
your United States as well as in all other financial centers of your
world. They are the mediums to help keep securities at all times in a
liquid and convertible state; they are the main avenues where buyers
and sellers can always transact a purchase, or sale of stocks and
bonds. The Boards of Trade are the mediums or markets for transacting
purchases and sales of your staple commodities like wheat, corn,
cotton, eggs, butter, coffee, and other staples.
"The New York Stock Exchange with its 1,375 broker members and members
of your other exchanges and Boards of Trade in New York and other
cities are the agencies of purchases and sales from client to client
for cash or on margin for your stocks, bonds, and future staple
agricultural commodities. These brokers also do a sort of banking
business with their money and profits, and with money they borrow on
call from banks at 1% and 2% interest and charge their customers 6%.
They trade not only for their clients, but also among themselves.
"The next power in your moneyism is rent: Payment for the use and
occupancy of property owned by another party as landlord. It is another
form of interest on invested money. Rent is nothing else but a gain or
interest on money. The rents paid for your homes, apartments, shops,
offices, business houses, farms, and equipment, must be an enormous
expense for you.
"Profit, another form of interest, is an expensive process of your
money system. The Romans had a saying, _Caveat Emptor_, 'Let the buyer
beware.' History shows that your industrial, and commercial business,
and services have always been based on hard bargaining. The desire for
more money gain was and is so deeply impregnated in you that it has
blunted and broken down your ethical standards. You have always tried
to get the most gain for the least value. Some sellers take advantage
by overcharging, underweighing, substitutions. Others, through their
open and secret control of combinations, and cartels create price
fixing pools. Some manufacturers, retailers, contractors, and producers
monopolize and create a scarcity and a demand. The consumer through
necessity is compelled to purchase from them, or from cut-throat grey
and black markets.
"Your World Almanac of 1950, page 652, gives for 1945 as many as
250,881 manufacturing establishments, with wholesale value of
manufacturing at $74,425,825,000 on page 656 for 1948, and retail sales
at $130,000,000,000. Whatever you purchase has also an added cost by
billions of dollars for advertising, from your biggest article down to
your match or piece of chewing gum.
"Your credit sales and charge accounts have not only increased
the cost of your purchases, but have intensified the demand for
luxuries you do not need or can't afford. You buy these things on the
installment plan, even if you have to pay more, plus interest, to carry
your account.
"Commissions, and fee payments on your purchases, sales, and rental
collections to stock, bond, real estate, and commodity brokers plus
your attorneys' fees is another enormous and excessive drain on your
resources.
"The economic financial incubuses you have created now control your
lives, from the day of your conception, until long after your death.
With your money they directly control your most essential industries;
and indirectly hold ownership through their loans, and mortgages, of
your business, your homes, farms, stock, lands. They are on the Board
of Directors, guiding the policy and controlling all your financial
institutions and your most profitable enterprises taking most of the
profit for themselves by devious methods. To hide and not openly
show their large earnings, they often by subterfuge, declare and cut
'melons' to their stockholders by exchanging three, four or more shares
of the same company for every one of their shares. By this artifice,
they endeavor to show a smaller dividend as well as make the new issue
of shares of a lower value, for manipulative and trading purposes. They
also continuously increase their capitalizations or lower their par
value sometimes for the same purpose.
"They even control your new discoveries, and inventions, which they
get possession of, for mere pittances. They often suppress some of
them to suit their convenience. Through their financial power they
directly and indirectly control and influence the political status
of your land. They control operations of agriculture, commerce,
industry, transportation, utilities, shipping and all kinds of
intercommunication, your wineries, breweries, distilleries, and
your tobacco industries, from the smallest business to your largest
enterprise. Ultimately restricting your opportunities for economic
advancement.
"All these are interrelated: your Banks, Trust Companies, Business
Banks, Savings Banks, Financial Companies, Loan Companies, Life and
other Insurance Companies, Stock Companies and Exchanges, Boards of
Trade, and other exchanges. Stock brokers, real estate brokers, pawn
brokers, with numerous branches covering the best locations in the
United States, occupy many buildings and establishments, and send their
private wires over every section of your nation and foreign countries.
All of them are maintained at your expense through your large deposit
reservoir and your earnings.
"Your moneyism has weakened you mentally, physically, and morally and
has created in you an unquenchable desire for their acquisition; from
your poorest to purchase his bare necessities to your richest to get
richer, bringing on deficit spending, mounting debts, increasing taxes,
incessant relief and unemployment payments. All these with no end in
sight.
"Everywhere, everyone among you always has a demand, and you create the
demand for more and more money. You always have need for more of it,
for more financing, and there never seems to be enough of it. But it is
only your few who seem to get it and hold it."
FOOTNOTES:
[Footnote 21: _Story of Money_, Norman Angell, Garden City, Publ. Co.,
1929. p. 72.]
[Footnote 22: _What is Money_, Victor L. Clark, Houghton Mifflin Co.,
p. 2.]
[Footnote 23: Ibid., p. 23.]
[Footnote 24: Ibid., p. 24.]
[Footnote 25: _The Family Circle Inc._, June 28, 1946, V. 28, No. 26,
pp. 10-11, by W.W. Wheatley.]
[Footnote 26: _The Story of Money_, Norman Angell, Garden City Publ.,
1929, p. 381.]