The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1889-10-03

ono mo- 'SdSe, une doubt and dlspair
everywhere gnawing and harassing
the people are traceable to a cause
asa stream is to it's source. and that
cause Is the Internal money policy of
our Government, captured bv shsrn-
ers and shylocks, and run in the in
terest of uSurers-the ssfund-bold-
erS'
Q-11 1t be true, as you say. that
our present monetary system is the
English system, will you not find #
difficult to explain the prosperity of
the masses i'll this country?
A-Ihat Prosperity exists ONLY on
paper. Let US look at the results in
England as disclosed in Integral
cooperation, a work recently pub
llshed in New York. 'sThe landed
property of England, saws the au
thor, covers 72,OOO,6OO acres. If
is worth 100000, 900 and Yields
an annual rent, independent of mines,
Oh $o3o,oOo, 1000. One half of this
property is held by 7,4OO. In fact
6oo persons own nearly one-ffth of
the Kingdom, or IA, 900. 900 acres.
worth S2,OOO,0OO,OOO, and with an
annual rental of 66,OOO,OOO. The
population of England is 35.OOO.-
900. AS bad as this is in Ireland and
in Scotland it is worse. Scotland is
the paradise OF the peers. Thecoun-
W OF sutherland contains .229. 253
acres, OF which the Duke of Suther-
land owns 1 ,175,343. InGreat Brit
ain there are 100000 tenant farm
ers, 1000 landlords who, for doing
nothing, receive from the soil more
than twice as much al, the total
wages paid to $4,000 Iaborers for
working twelve hours through the
seven days III every week. The man
ual laborers of England add billions
OF wealth every year to the nation,
and they are homeless, taX-burdened.
rent-embarassed ,interest-ridden half
starved, shiftless, and their bodies
are mort9aged for city, corporation
and national debts
The schemers and shylocks simply
control the laws governing the ma
ion, finances, &c, &c.
GLOW does the matter stand in
the United States?
A-Iwo and a half per cent of the
population, says the same author,
own one-half of all the wealth, and
these two and a half per cent. do
nothing but distort legislation, and
by law take for their own what the
producers make. There are mort
cages on farms of ten Western
States amounting to $3,425 ,OOO.-
600. Bonanza farms double every
three years. One hundred thousand
men in the United States have in
comes which enable them to save
about three-fifths of all the wealth
annually saved in this country. In
Michigan one o-hundredth of the
inhabitants own 81 per cent of all
the real estate. In New York city
the bulk of the real estate is owned
by 10000 persons There are H.
900 holders of United States bonds,
yet 60 per cent of the bonds are in
the hands of 1890 men. In the city
of Columbus, Ohio, $50 men own
more property than all the remain
ing population.
\ banker of Omaha, Nebraska,
says that more than one-half of the
wealth of the city was held by 100
men. In Cleveland, Ohio, there are
63 milliOhaires, whose aggregate
wealth approaches OO,OOO,OOO
Between TarrytOwn and DObbs' Fer
ry, a distance Of six miles, there are
63 milliOnaires whose aggregate
wealth is 100000,
The assessment lists for 1884 show
ed that there were in the United
States $500 men worth 81 10000
| and over. In the year 1850 labor
ing men owned 62H per cent. of all
the wealth of the United States. In
the year 1860 capitalists owned III.
per cent. more than labor. In 1876
capitalists owned 263s per cent. more
than labor, and in 1880 capitalists
| had absorbed 81 10 per cent more
| than labor, and the census of 1896
will show that three-fourths of the
wealth of this country is held anG
controlled by Il very few men.
| Q-Ihese statements are certainly
appalling, and | would be glad tc
know just how such terrible results
are worked out?
A-The producing cause is thu
same in this country as in England
"Money-lenders keep that close
watch over legislation which ena bles
them to control it unduly to thei
own advantage, bringing adversit,
to the people of a whole nation.
See Chambers Encyclopaedia.
Q-Have you any English testimo
ny as to the ruinous work of TIN
British money policy as embodied il
the operation of the banks of Eng
land?
A-Listen, will you, and then con
slider. During the panic in 1S47 tn
British Government appointed ;
committee to inquire into and dis
cover, if possible, the cause of sue
widespread ruin and distress.
The committee summoned before i
Mr. John NJ Palmer, one of the Iii
rectors and afterward governor q
the bank, who stated that ''whel
they (the officers of the bank want
ed gold to flow into the kingdom
they accomplished it by producing
fall in the value of commoditie
through contraction.
When asked this questiOn-1s it b.
interference with trade that you
contraction of the volume of tn
currency acts, and not merely by in
convenience of bill holders? the an
swer was: 1T causes the stoppage G
BOTH
When asked what would be the et
feet upon the manufacturers and la
bOrers of the country during such a
operation, he answered: cit destroy
the labor OF the country. AT tn
present time, in the neighborhood c
London, you can hardlymove in an
direction without hearing univers;
complaint of the want of employ
ment.''
To be continued by
ONE OF THE PEOPLE.