Mortgaged indebtedness of business realty, street railways, manufactories and business enterprises (estimated from partial reports of 11th census) 5,000,000,000 Loans from 3,773 national banks (Statistical Abstract of the United States) 2,153,769,806 Loans from 5,579 State savings, stock and private banks and trust companies (Statistical Abstract of the United States) 2,201,764,292 These are figures on which something definite has been obtained; also the ratio of increase from 1880 to 1890, which was from $6,750,000,000 in 1880 to $19,000,000,000 in 1890. By computing the same ratio of increase we should now add 8,000,000,000 Mortgage debts on homes not occupied by owner (estimated) 1,000,000,000 Overdue accounts due merchants, wholesale and retail, drawing from 6 to 10 per cent. interest (estimated) 5,000,000,000 Debts due pawnbrokers, drawing from 60 to 120 per cent. per annum or 5 to 10 per cent. a month (estimated) 1,000,000,000 Private debts due from individuals to individuals and of which there is no public record or other data for census officers to obtain information (estimated) 1,000,000,000 Maritime debts (estimated) 1,000,000,000 Overdrafts, judgments, overdue taxes and miscellaneous items not included in the foregoing (estimated) 4,000,000,000 ———————- Horrible total $40,346,315,848 In commenting on his figures, Mr. Harvey says: "Debts, a non-producing industry, growing to such a magnitude that the profits derived from all the producing industries of the country will not more than pay the interest on these debts, make the producers thereafter work for the benefit of the money-lending or non-producing class. When such a condition as to debts arises as we now have, all money nearly gravitates into the hands of the money-lenders and piles up in the money centers. The effect of debts upon civilization has never been understood generally. A prosperous country can carry about a certain proportion of debt among its people without apparent injury, but when it reaches the present proportion—a proportion only reached three times before in the known history of the world—it produces commercial paralysis and the financial enslavement of the people. All the people make goes to pay the money-lenders their interest.