The great West. [volume] (St. Paul, Minn.) 1889-18??, 1890-06-13
BETRAYAL OF the People.

gin to hang heavy with events IKE
fruit in the autumn. Every breeze
which stirs the branches is liable to
precipitate a crisis, and God alone
knows what may be the result Of one
unfortunate move. That disaster
waits upon the American people is a
prophecy drawn from every people
who have ever placed their monied
interests in the hands of a few selfish
aristocrats. Has the world ever
known this to be done with safety?
The poverty of a people who are
Industrious, with land in abundance,
with every facility for commercial
intercourse, with ten million more
mouths to feed than during the pros
porous times of the '70s, Is some
thing too wonderful to explain-until
we look upon the cause of it, and be-
hold
The money-loaner!
And yet, how legitimate a business
money loaning has been considered
Previous to the development of our
bonding system, building upon debt,
and interest, money loaning was
carried on in a manner comparative
ly legitimate. But to-day the very
currency we use is a lien secured loan.
Every great building is bond-se-
cured loan. Every railway is a mort
gage-security for every dollar it rep
resents and three times more. Every
thing is represented by interest
bearing paper.
During these times, when the cry
goes up from two million, five hun
dred thousand farms mortgaged to
the money sharks of this country, it
would be patriotism on the part OF
elected lawmakers to consider the
matter OF relieving the money mar
ket of the nation.
Look at the situation. 1t is as
founding No nation in Christendom
ever saw it's equal. We will challenge
the financial history of the world for
parallel. Look at this:
sW Nearly twenty billions OF mort
gagged debt in this country-and yet
over g billion of dollars locked up by
the U. s.. government, Isl 900, OOO,-
900 at close of last fiscal yearly Cur
rency reduced $114 100000 last
year and still $6OO,OOO,OOO of funds
which belong to the circulation by
natural course of events, absolutely
held in the grip OF the treasury by
force!
Two billions of dollars are Dor
rowed from the national banks
alone to-day-and 200 millions OF
this are loaned by the government
itself, with an arrangement by which
the interest e to so per cent Year,
goes-not to the government, but to
private individuals. Over 5000 pri-
waite parties are getting the interest
now on government money-given
to them to loan to the people, while
the government stores up one billion
dollars, and taxes us for the 500 mil
lions necessary for current expenses
Under these tremendous facts, let
us look at the proposition for relief
All loan security rests upon land.
It is the best in existence-no other
security is equal to it. The farmer
who has been borrowing his own
money government money! OF ma
tional banks at from ten to twenty
per cent. a year-has given his land
as security. IT. has been accepted
gladly. Now the farmer asks that
the government loan to the farmer
on the same land on the same terms
that it does to the banks on nothing
but rag-baby security.
The proposition IS laughed at. The
whole scheme is downed with sneers
The great body of men, plutocrats.
sent to Washington by farmers, will
betray every farmer in his district
and vote to give money to the stock.
broker and exchanger on "paper
bonds ito be loaned to the farmers
at cut-throat rates. For let it be
remembered that eight per cent. to-
day is Is per cent. of few years ago
Money is now worth twice as much
There is no reason >under HEAVIER
why the people should be robbed by
putting sharks and Shylocks be
tween their own money and tn,
loans.
1t is the farmers fault. They will
go to the polls by millions and sent