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as much as 50 per cent in a year, and so the annual budget is trebled in ten years.
Thanks
to such methods, allowed by the carelessness of the goy States, their treasuries are empty.
The period of loans supervenes, and that has swallowed up remainders and brought all the
goy States to bankruptcy.
You understand perfectly that economic arrangements of this kind, which have been
suggested to the goyim by us, cannot be carried on by us.
Every kind of loan proves infirmity in the State and a want of understanding of the rights of
the State. Loans hang like a sword of Damocles over the heads of rulers, who, instead of
taking from their subjects by temporary tax, come begging with outstretched palm of our
bankers. Foreign loans are leeches which there is no possibility of removing from the body
of the State until they fall off of themselves or the State flings them off.
But the goy States
don not tear them off; they go on in persisting in putting more on to themselves so that they
must inevitably perish, drained by voluntary bloodletting.
What also indeed is, in substance, a loan, especially a foreign loan? A loan is – an issue of
government bills of exchange containing a percentage obligation commensurate to the sum
of the loan capital.
If the loan bears a charge of 5 per cent, then in twenty years the State
vainly pays away in interest a sum equal to the loan borrowed, in forty years it is paying a
double sum, in sixty – treble, and all the while the debt remains an unpaid debt.
From this calculation it is obvious that with any form of taxation per head the State is bailing
out the last coppers of the poor taxpayers in order to settle accounts with wealthy foreigners,
form whom it has borrowed money instead of collecting these coppers for its own needs
without the additional interest.
So long as loans were internal the goyim only shuffled their money from the pockets of the
poor to those of the rich, but when we bought up the necessary person in order to transfer
loans into the external sphere all the wealth of States flowed into our cash-boxes and all the
goyim began to pay us the tribute of subjects.
If the superficiality of goy kings on their thrones in regard to State affairs and the venality of
ministers or the want of understanding of financial matters on the part of other ruling
persons have made their countries debtors to our treasuries to amounts quite impossible to
pay, it has not been accomplished without on our part heavy expenditure of trouble and
money
Stagnation of money will not be allowed by us and therefore there will be no State interest-
bearing paper, except a one per cent series, so that there will be no payment of interest to
leeches that suck all the strength out of the State.
The right to issue interest-bearing paper
will be given exclusively to industrial companies who will find no difficulty in paying interest
out of profits, whereas the State does not make interest on borrowed money like these
companies, for the State borrows to spend and not to use in operations.
Industrial papers will be bought also by the government which from being as now a payer of
tribute by loan operations will be transformed into a lender of money at a profit.
This
measure will stop the stagnation of money, parasitic profits and idleness, all of which were
useful for us among the goyim so long as they were independent but are not desirable under
our rule.
How clear is the undeveloped power of thought of the purely brute brains of the goyim, as
expressed in the fact that they have been borrowing from us with payment of interest without
ever thinking that all the same these very moneys plus an addition for payment of interest
must be got by them from their own State pockets in order to settle up with us.
What could
have been simpler than to take the money they wanted from their own people?
But it is a proof of the genius of our chosen mind that we have contrived to present the
matter of loans to them in such a light that they have even seen in them an advantage for
themselves.
