Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1891-07-17

Value of product sold $40 COO, COO
i int on Oh e uu Co. per Ct s sooo
| Total expense. SO, 0O $4,000
Gain or Pre- fit. ..... ................ 500, 900
Thus it is seen that the money capital
at 1O-per-cent profit has drawn as its
share SO, 10000 The first division, by
means of the monopoly granted by Gov
The second division gets 500, 900, and
the Government as interest 100000.
Ten per cent is considered fair profit
for the risk of business, and per cent.
fair rate of interest for money. Such
is the inevitable result of issuing money
to the people through the banks. Less
than one-tenth Of our business men now
enjoy the benefits of banking. 1t is
evident that the business men and bank
ers of the first division can unite in a
common interest and by means Of their
monopoly of money bankrupt the bust
ness of the second division.
That banks. either directly or indi-
rectly through some of their directors.
are silent partners in speculative or
productive enterprises, no one ac-
quainted with business methods will
doubt
| ask you what are the chances of sue
cess for the business man in the second
division? The business men Of the Sec
ond division must hire their money of
the first division, giving real estate
security for the return Of the principal
1T some specified time. In tho mean
time pay an annual interest of per
cent. in money. Reader, want you to
follow me closely in my statement Of
facts. You will perceive that the con-
tract is to pay the sum OF $3OO,OOO as in
terest annually in money. What want
to determine is where they will get the
money to pay the interest with unless
they take it from the sum borrowed.
While they can create material capital
by means of labor they cannot make
money with which to pay their interest.
1t must be drawn IRON the borrowed
money. 1t is evident that in few years
their working capital must become re-
duced to the extent that interest
in money has been paid; at 'he
paid 100000 of the borrowed
extent. The security pledged for the
return of the principal must be sold TO
complete the contract. Sixty per cent.
of your business has become bankrupt
Now, while you have created 81 1000, OOC
of material wealth by your Industries,
you must fail for $3,OOO.OOO borrowed
money. Your goods and plants must be
sold as bankrupt stock to complete the
contract with the bankers You per
ceive that the amount of failures must
equal the amount of interest paid il
money. Such is the inevitable result
} under the present method of issue. Ii
the present condition of society. nine
tenths of the merchants, manufacturers
and farmers are in the second division
Reliable statistics prove the fact thai
ninety-eight per cent. of them becom.
bankrupt in the course of a generation
Should the one tenth. who now con
troll the currency deem it for their in
, terest to withdraw their loans from PEG
pie for the purpose of investing in pro
ductive enterprises they are free to do it
The people have no power to prevent i
under the existing laws of the country
\ They must submit to their dictation
] That they are disposed to take the ad
vantage of the people is evident by th,
International trusts that have beef
' formed within the last five years Gf w
/ can believe tine daily press) for the con
troll of the staple industries OF the worli
in their own interest, Ii you permi
: them to do it you must become thei
servants, with no choice but to do thei
r bidding, BY the control of the currenc
: Of the nations they can and do contro
a the industries.-D. Burbank, IN North
, West Reform journal.