The midland journal. (Rising Sun, Md.) 1885-1947, 1891-09-04
Friday, Sept. A, 1891.
Another English Syndicate.

AtS tttne pAaSHSatiy al ''S AeoihSs- oH'N
manufactures there and in the Eastern
States are purchased"
Similar news paragraphs have been Of
common and frequent occurrence for the last
half dozen years. The meaning is obvious
that the most profitable industries of this
country are steadily passing into the hands
of foreigners, and that Americans fiom being
the producers Of wealth for the enrichment
of the United States and It's citizens, are
drifting downward, and becoming a nation
of wealth producers for foreign aristocratic,
money class, who are protected in foreign
lands under monarchical power upheld by
large standing armies, which in turn are
supported by the wealth produced by the
unparalleled energy and productive industry
Of Americans. This condition Of affairs has
been deliberately planned and Systematically
carried out. The shareholders rebellion was
largely due 10 this same money class OF
Europe. They did all in their power TO
foment strife between the sections, and then
did their level best to aid the South by
supplying priyateers to destroy American
commerce and munitions Of war to aid the
rebellion: the purpose being to saddle
heavy bonded debt on both sections il they
could succeed in effecting a division. One
half the scheme failed and they lost their
bond venture they had staked on the Con-
fedelacy, but they succeeded in fastening 1t
on the United States as a whole. The
+" Hazard Circular" issued in 1862, re-
peals very plainly their far-reaching plan,
which circular was issued to their banking
friends in strict confidence. This famous
circular reads as follows:
Slavery is likely to be abolished by the
war power and cha,tel slavery destroyed.
This, / and my European friends are in
favor Of, for slavery is but the owning of
labor, and carries with it the care of the
laborei; while the European plan, led on by
England, is capital control of labor, by
controlling wages. This can be done by
controlling the money. The great debt that
capitalists will see to it is made out of the
war, must be used as measure TO control
the volume of money. To accomplish this
We are now waiting to get the secretary of
the treasury to make this recommendation
to congress. It will not do TO allow the
sgreenback,' as it is called, to circulate as
money any length Of time, for we cannot
control them. But we can control the bonds,
and through them the bank ISSUE"
How well this scheme was carried out we
all now see. The currency was to be con-
trolled through the National banks by con-
trolling the bonds. The bonds have been
controlled, until their cost of AZ to go cents
in gold is $1.25 in gold. The exactions Of
heavy premiums and minor details in the
banking law, act as constant pressure on
the banks to reduce their circulation, which
is at present less than it ever was although
there are greater number of National
banks in the country than at any former
period since the law was passed. When
the war ended in the collapse Of the Con-
federacy The whole attention of this foreign
money ring was turned TO the business Of
perfecting the scheme outlined in the 'sHaz-
card Circular Secretary of the treasury
Hugh McCulloch, commenced destroying
the currency in order, as he and his class Of
English bankers alleged, to establish the
credit of the government and get back TO
specie payments.
This was not to establish the credit Of the
government, for the government had bor-
rowed all it needed and was in no way con-
cerned about its credit, but only interested
in paying off the debt. To nay that debt in
the money twas contracted strikes every
impulse of common sense and honesty as a
legitimate transaction, which should have
dictated the policy of the government, and
TO keep that money sound and the circulat
ing medium Of the country as it had been,
was clearly all the government was called
on 10 do, as an honest arrangement between
the people and debt holders. The growing
business demanded all of this money TO tran.
sact it and the volume of steadily expanding
business would have brought gold down to
the leyel Of the greenbacks as soon as they
were declared legal tender for all dues,
public and private. But this honest course
was not in accordance with the plotters OF
the money ring. The destruction of the
ereenback money, which had done more to
develop the power and resources of the
nation in one decade than all the gold in
the world had accomplished in half CEN
fury, was not sufficient 10 satisfy The in
Unsuitable greed OF this ring of money con-
spirators. The debt must not only be put
to ar with gold but gold must be advanced
10 premium oyer all else, and 10 accom-
plisI this The scheme TO clandestinely work
the demonstration Of silver was carried to a
successful issue. This cut of half Of the
money metal of the principal nations OF
Europe and the United States, increasing
the demand for money metal beyond the
worlds supply of gold with the unvarying
result Of making gold dearer when measured
by all other products. Gold has increased
thirty per cent above its purchasing power
in 1860 and our government bonds have
been advanced tsoeaty;fire per cent dbOve goldi
The money or gold ring of Europe having
the debts of this and other countries in their
possession, steadily worked 10 make money
scarce, which resulted in reducing the value
of all property. They control the debt OBJ
legations and gold money, and are steady
gamers as the price of property falls. This