The midland journal. (Rising Sun, Md.) 1885-1947, 1891-07-17


trine is being crammed down the threats Of
the people by the gold ring daily press Of
the country, and the gold attorneys of The
Sherman class Suppose we admit that
adding silver to The currency would produce
contraction-a thing mpossible-what does
contraction mean? It means less money in
circulation and lower prices for produce and
all kinds of property. And what would
this condition bring about? 1t would bring
gold from European hords 10 buy our low
priced produce and property. Exactly what
has been steadily going on for years. And
when this condition has been brought about
what is the next step that must inevitably
follow? The valuable stocks, the valuable
mines. the valuable business, the valuable
lands having fallen into the hands of for
eign capitalists, on account Of their low
price, the profits and interest accruing from
the valuable properties, begin TO fow back
10 the capitalists of Europe. Our wheat,
our corn. cotton, pork, beef, etc., go to pay
that interest by transfer on the books Of
Europeon banks, as long as that credit holds
ont, then the balance is drawn in gold and
other coin money from this country, which
has been going on for the last several
months.
On account of the contraction of the cur
rency In this country by Sherman's demon
etization Of silver and other methods, the
price of every thing has been beaten down
to European level in this country, while
the interest on all the debt obligations hav-
ing been kept up from to 10 per cent, or
double the interest in European countries,
has brought oreign capital here to supply
the deficiency in our money volume. That
capital has been invested in our most val
liable property and the interest and earnings
are now sent to Europe, and we as a nation
are being robbed by steady stream Of
5000. 900, 900 annually. to pay interest and
profits, which would have all remained in
this country had our people had sufficient
money in circulation to have held onto and
operated these valuable properties.
There are two causes which produced the
present condition of affairs in this country
high rates of interest and scarcity of money.
which is an unnatural condition that cannot
be produced without artificial aid. That
artificial aid was supplied by such men as
Sherman. How shall we reverse these con-
ditions and recover this lost property and
STOP the robberyf All the gold and silver
we can command in the world will not do il
But by shifting our financial system from
this precarious and narrow base, and estab-
llshing it ON the cultivated land and its
annual products, and lowering the rates of
interest in this country TO 2 per cent, we can
recover our property and regain our former
prosperity. The agricultural class has pre-
sented this sytem which has been suggested
by the plainest, business com mon sense, and
they have thrown down the gauge of battle
TO the idle, non.producing classes who toll
not with their hands. They are asked to
present something better or as good, or point
out its insufficiency. They have done
neither and have ceased 10 try. It is the
business of the Alliance to teach the people
to understand these two systems and point
out the marked difference between them.
wild lunacy" will not satisfy the people
for an argument against their proposed
system. When they find this is the best
the plutocracy can give, they will very nat
urally suspect the colored indiyidual in the
wood pile and proceed 10 FIRE him out. The
ablest advocate the money bags have is John
Sherman, and the weakness oftheir cause is
shown in the specious pleading and sophis-
try Sherman uses in this letter.