In the first place, it is obvious that not only is wealth concentrated in our times but an immense power and despotic economic dictatorship is consolidated in the hands of a few, who often are not owners but only the trustees and managing directors of invested funds which they administer according to their own arbitrary will and pleasure. This dictatorship is being most forcibly exercised by those who, since they hold the money and completely control it, control credit also and rule the lending of money.

"Religious Socialism," "Christian Socialism," are expressions implying a contradiction in terms.

Those wretches tainted with the error of Indifferentism and Modernism hold that dogmatic truth is not absolute, but relative: that is, that it must adapt itself to the varying necessities of the times and the varying dispositions of souls, since it is not contained in an unchangeable revelation, but is, by its very nature, meant to accommodate itself to the life of man.

These principles with due regard to time and place, must, in accordance with Christian prudence, be applied to all schools, particularly in the most delicate and decisive period of formation, that, namely, of adolescence; and in gymnastic exercises and deportment special care must be had of Christian modesty in young women and girls which is so gravely impaired by any kind of exhibition in public.

If our age in its pride laughs at and rejects Our Lady's Rosary, a countless legion of the most saintly men of every age and of every condition have not only held it most dear and have most piously recited it but have also used it at all times as a most powerful weapon to overcome the devil, to preserve the purity of their lives, to acquire virtue more zealously, in a word, to promote peace among men.

Always moved by religious motives, the Church has condemned the various forms of Marxist Socialism; and she condemns them today, because it is her permanent right and duty to safeguard men from currents of thought and influence that jeopardize their eternal salvation.

This power becomes particularly irresistible when exercised by those who, because they hold and control money, are able also to govern credit and determine its allotment, for that reason supplying, so to speak, the lifeblood to the entire economic body, and grasping, as it were, in their hands the very soul of production, so that no one dare breathe against their will.