The great West. [volume] (St. Paul, Minn.) 1889-18??, 1891-05-22
How Prices Benefit the Money
Kings.

If man has a house and lot worth
$4,000 he can buy $4,000 in money
with that property. Buff money is
made scarce, either by law or acci-
dent, the price of money will rise and
after time the man will find that
he cannot buy as much money with
his property as he could before.
To illustrate: Suppose there is as
much money in circulation as there
was in this country at the close of
the ewar in 1865, say 81 ,651, ,2S2,375,
and a quantity of goods costs $1OO;
as soon as the amount OF the curren-
cy is reduced to $SOO,OOO,OOO the
same goods can be bought for $50,
or more properly speaking the same
amount of goods will buy but $50 in
money, because through it's having
become scarce it's value, or rather
price, has increased to double what it
was before it was contracted.
This is exactly what was done by
order of the money kings and at
their behest on the part Of congress
after the war. Under the fraudulent
pretense of resuming specie payments
the paper money in circulation was
called in, and paper bonds issued in
their place. This caused an increase
in the price OF money and apparently
made all things cheap, but in fact
made money so dear that it took
more property to buy money than it
did before.
To illustrate the workings OF this
subtle scheme, suppose the man with
a house and lot worth $4,000, or
which cost $4,000, borrowed 81 900
on his property when the larger sum of
money was in circulation. In doing
SO he practically conveys to the hold
er OF the mortgage one-third OF his
property. If after this has been done
the amount OF money in circulation
is reduced one third, it will make
money SO dear that he can buy but
$4,000 with his property. The mort
gage still calls for $1,OOO-and now
represents one-half OF the property.
What service has the money lender
rendered that he should now own
half OF that for which he paid but
one-third? What benefit has the
owner OF the property received that
he should have lost so much of that
which was his own?
If the contraction continues and
money is made still dearer, it will be-
come so valuable that the mans
property, once representing $4,000,
will buy only 81 1,OOO-nOw that the
money lender owns all the property
and the poor fellow who gave the
mortgage has lost everything.
This is the gigantic scheme of the
wholesale robbery that is practiced
on the people of the world by the
sharpers who are able to keep the
people in ignorance OF the true func-
tions OF money.
The manipulation works the thing in
a peculiar manner. After having
loaned out large quantities of money
SO that the whole country. possibly
the whole world, is plastered with
mortgages, they prevail on govern
ments to contract the currency, by
calling in greenbacks as was done in
this country after the war, or by de-
monetizing silver as they prevailed
upon Germany to do later on, or car
rying out such an infamous scheme
as that explained in a previous chap
ter when they demonetized silver in
the United States by an act that was
to all intents and purposes crime.
This will make money dear and the
fellows who hold the mortgages then
foreclose and buy the property for a
song, while the people who gave the
mortgages in many instances find
that their property will not buy
money enough to pay the mortgage.
Then after the ring has bought up
all the property they can absorb,
they proceed to let the money go out
again SO that it becomes cheaper or
rather SO that they can get more OF
it for their property, and after they
have disposed OF it then their little