The midland journal. (Rising Sun, Md.) 1885-1947, 1889-03-15
Friday. March 15, 1889
A Money Famine.

a DAOhNJ -
ssPeople are complaining of hard times.
Why should times be hard? The failures
in business are comparatively few. The
farmers have much more to sell than they
have had for few years. What is the
trouble? 1t is the old trouble of the scar
city Of money in part. The insanity which
DEGREES that the American people shall at
tempt to do business upon less per capita
circulation than exists in any other nation
on earth. is on top and rampant and insolent
The government limits the coinage ofsiIyer
to the lowest sum provided by law; it does
all it can TO discourage the circulation of
what silver it does coin it does not favor
the circulation Of the greenback, except SO
far as it absolutely must it keeps millions
of dollars locked up in Washington and the
banks are all the time curtaiiing their cir
culatiop. 1t is nice financial management.
Some allege that it is deliberate rascality
and others are content to call it sheer stu
pidity It does not make much difference
what it is called, it is death to our indus
tries and to prosperity. The passiveness of
the people under such business numbering
financial policy, and their willingness to
kneel at the feet of the Wall street conspir-
acy to rob this people poor and blind, is one
of the most astounding things that any man
will ever see, if he lives hundred years.
Men and brethren, it is possible for US 10
force change in the financial policy of this
government. If we will first really recog-
niZe the ultimate ruin that must follow a
continuance of this policy and then recog-
nize our own strength and seek 10 exert it
for reform we can get what we ought TO
have"
The editor of the Western Rural is evil
IDENTIFY road when he lets himself out in
this way. But hasn't he, in common
with every honest laboring man, good
cause to be mad with the financial policy
our government is pursuing, which is
beggaring the industrious class of farm
and shop alike? In 1873 when the single
gold standard was adopted by our govern
ment at the dictation of English, French
and German bond holders, the crash began,
and prices have been moving downward
ever since, and our money has been con-
tracing every year leaving less to do bust
ness with, less to pay debts with and less
per capita than any nation in Christendom.
Then, when this scheme of the money mo-
nofolisis began, we had SAG per capita in
circulation and now we have but SIT. The
bonds and debts remain at their old figures,
while the money to pay those figures with
is shriveling up, When Senator Sherman,
who was chairman of the Committee which
reported the bill that demonetized silver,
was charged with deceiving the Senate by
representing the bill as billto regulate the
coinage of silver dollars, which was bill
TO demonetize silver, he denied the charge,
alleging that the deed was done in broad
day light; that line upon line, and precept
upon precept was discussed for weeks, ex-
tracts from his speeches delivered al the
time were read to him disproving his at
tempted denial. The truth of the matter is
that Jno. Sherman's financial >policy is an
ont and out gold bug Wall street policy, as
any one who has read his speeches and kept
track of his financial acts will have to adj
nit. Producing more silver than all the
balance of the world together, the English
are allowed to clandestinely influence our
lawmakers, to place this metal entirely in
their control who name price to be paid for
our bullion in the London market which
act has been used to increase the purchas-
ing power Of our own bonds to quite double
their original value; but in addition. that
country is using. our silver to stimulate
wheat and cotton growing in India to bear
the agricultural products of our farmers
with in European markets.
Every ounce of The precious metals could
be taken by our treasury and paper cur
rency based upon the bullion, which would
equalize gold and silver at ratio of16 to !,
and compel European manipulators of
money TO pay that price for our silver in
gold, which would at once stop It's flow to
Asia, and stop the competition of India and
South American wheat with the produce of
our farmers, who are being made poorer
every day by the British and Wall street
financial policy that is maintained at
Washington.
On the gold and silver which are taken
from our mines our government could base
paper currency that would speedily abolish
tine ephemeral National Bank currency
which is being curtailed every year, and
must entirely disappear when the govern
ment debt is paid, il the bond holders will
ever allow it to bepaid-and if they can
prevent it they will not.-This country has
it In its power to become absolute master of
the money of the world and could make
New York the clearing house of the world
in place Of London, il we kept our precious
metals at home, using them as basis for
our national currency, in place Of tamely
handing over our silver to England to slim
nlate the agricultural industry Of her East
ern colonies, which cripples and handicap