M'arthur Democrat. (McArthur, Vinton County, Ohio) 1853-1865, 1863-09-03


eapitatlist sits quietly in his bank
Iparlor aud gathers in his tax, without
Itlie exertiOn OF a muscle, while in the
busy streets, the workshops, the fields,
llabor is creating it for him and thr.
tough the process Of this creation, the
laborer wears out his frame by toll
and anxiety, barely earning a living,
because his surplus has gono for too
high interest.
The result of banks, as they are
multiplied and managed, is to flcb
ltbe. rewards of labor from him who
has justly earned them, and put these
lfeHards into the pockets Of the mere
lmoneyei dtone who never carried bis
laalt in the whole course of his exist.
ence.. Lstthe laboripg men examine
R few practical facts; 500 put out at
six per cent interest, the latter collec.
ted every six months and added to
ltIe principal, will accumulate in a
period Of sixty years. $3S, ,671, SO. At
seven per cent the accumulation
would foot up, in the same time,
81, ,89S,92. But banks get, on the
average, IS per cent out Of labor Tor
the use Of their currency; and sixty
years loaniug of 81 600, &C this rate
| Of interest, would show earnings no
less than Ss2,23O,496,7 Let us
take the $1,000 and give it to one OF
the Shylocks who inteSt Wall and
William streets, seeking the poor
creditless victims who must have
money, even if he pays at the rate Of
I3O per cent per year. There ars thous.
ands such, and in any year the past
lsixty, they have been found in all large
cities. Sixty years. use Of 81, 900, at
80 per cent per year, interest payable
semi-annually and reloaned, will foot
up 1924, ,936, ,059,2O7 81. These trans,
actions take place between "capital"
and "labor" constantly; and at this
rate the producer pays over to the
money lender the entire results Of his
daily toll. Do you wonder, my hard.
working friend, that there are so many
industrious men IN the world who
"never seem to get ahead 7"
! Now, mark this: Every banking
scheme, every State or National debt,
fcyery huge credit enterprise. every
undertaking not upon the "pay as you
60" principle, is a mortgage upon the
bodies and souls OF the laboring clas.
ses. Workingmen, what is to become
of us all, in the face Of the war debt Of
three thousaad millions, which you
aud must dig out the interest of, at
five or six per cent per annum9 How
long can we stagger under it9 And if
in the past comparatively peaceful
history OF this people, we find that the
poor Of this country have become
poorer and the rich richer, under the
workings OF capital verSus labor, what
kind OF a picture shall we present to
the world in the year of our Lord
1900, with our mOnstrous paper
money scheme, and debt equal to
that OF England 2
Wall street this week is again few.
erish with excitment. Stocks are up,
gold up, money plenty, and "chances
splendid" Bank deposits have in.
creased for the past four weeks. The
country is sending funds here for ia
vestment, and borrowers in good credit
can got all the cash they want at 5
and even as low as 4 per cent. Colo
touched last week 1873. 1t has moved
up to 127@130 this week, with ex
change at 130@l40, and q small &c
mand. Mercantile paper is scarct
because merchandising is limited, save
in the lines fed by the war demand
If peace were declared to-day, the
railroads, manufactures, and certain
commission houses. agencies, &c., al
depending, to a great degree, upor
} this destructive war for support, ,wonlt
lose one-third Of their business ant
, when it is declared, such will be tn,
result. Not one laboring man in tel
) thousand truly understands the com
+ mercial condition ofthe country. W.
, are trading in human life.
As long as the "crusbing out" doc
trine is maintained, every fresh battle
3 with thousand hecatonbs Of slail
victims as its result, bat whets tn
appetite for more sacrifices, and th
shoddyites howl, louder and longer
"no peace, no compromise, no cessa
r tion of slaughter, more men, NOR
, material, more contracts, for al! thes
t put money into our pockets. VIVA
care we for the heart-broken widows
q the childless mothers the fatherles
{ orphans What care we for mWiIate'
: humanityl We do no figbtingl W
e buy of, stay at home, get rich, at th
Y expense of a ruined country, and it
8 slaughtered people 60 on with 'h
8 war" Let the laboring man bear i
mind all thia ia To have an end. and