The midland journal. (Rising Sun, Md.) 1885-1947, 1891-01-23

products is making asteady increasing de-
mand for money.
In the light Of facts and reason the fallacy
and deception Of such assertions as those
above quoted from the Press are most ap-
parent. Silver as money is not in the cur
rent commercial price Of pig iron, copper,
wheat, wool &c.
ut would be-" says the Press, ssa wind
| fall to the blast furnaces if pig iron could
be legally traded off in payment Of any
current debt IN the prices of1S70 instead Of
at its prices now, but it would be pretty
tough on ths rest of u.s." There is DO force
in such argument
Let us apply this reasoning. however, TO
the u. S. boEds and other debts, and see
where the wind-fall would strike. But
before reading further in this article turn to
the fourth page Of the MIDLAND JOURNAL
and peruse the history of August Belmont
as agent of the Rothschilds, with the gov
eminent of the United States. Wouldn't it
have been grand wind fall 10 the farmers
and other producing classes Of the United
States if those bonds had been paid off after
the war with 60 cents in gold to the dollar,
just what they cost? While this would have
been an Unreasonable blessing to all the
people who earn their bread by the sweat of
their brow, it would not have defranded the
great Jew bankers out Of single cent.
They got twelve per cent, in gold, interest
for every dollar 10 gold they paid for the
bonds, until they were refunded in 1859 at
lower rate of interest.
Now these so cen; bonds are being bought
back by the treasurer at one hundred and
twenty-five and twenty-six cents, which is
an advance on cost of $50 per cent. And
these money trust papers like the Press are
keeping the people in the dark by publish
ing such misleading sophistry as the above
quotation.
Let us briefly examine the quotation on
tin plate and the fall in prices. Suppose
we admit that our tin plate factories will be
enabled to export tin plate in few years,
"a fact not YET realized in any other article
manufacturedl, how long would it be till
the works we're bought up by an English
! syndicate, fate that has befallen so many
Of our best manufacturing industries, and
trust formed combining the WEIGH and
American tin plate companies. il our pres
ent monetary conditions are not changed.
In the mckinley prices above quoted
it is obvious that the tariff has had no effect
one way or the other, except as a bull and
bear measure temporarily to influence the
market. From the same article we quote:
"The 100 hands employed by Lister g.
Co., In Bradford. Eng, in the manufacture
of yelvets and pushes are on strike
against reduction of 20 per ceut in their
wages. The managing director of the firm
Explained that the reduction was necessary
because Of the new American tariff
If that tariff put wages down in England
it ought 10 put them up in America.
Carnegie & Co., steel rail manufacturers,
have cut the wages of their men down and
many other large manufacturing establish.
ments in this country have cut the wages
down. 1t is plain that steady fall in
prices and wages is not owing to the tariff
Such laws may serve to check free inter-
change Of products between nations, but it
is the supply and demand of both goods and
labor which influence the price in its
auctuation, but the quantity of money in
circulation governs the price in its upward
or downward tendency. Prices will always
fuctuate. But they have always settled at
lower point for 20 years, or ever since the
contraction of the currency began 10 be felt.
When silver was demonetized by the
United States, France and Germany, the
money metal was cut in two, and one half
of the former quantity has had to serve ss a
basis for the credit that resulted from the
great expansion reproduction. All checks,
drafts, bills of exchange, bank notes, bonds,
mortgages and evidences of debt refer back
TO gold, when the law of the nations declares
that it alone shall satisfy debt, the un-
avoidable consequences are that the smaller
the quantity of that which the law desig-
mates money, the more readily it is handled
by those who control it. Who control
money? The men who hold the debts in
their hands. The National, State, munic-
| ipsl, railroad and other corporation debt of
this country is computed to amount to
$2S, 900, 00G,0 600. The few men who hold il
have contrived TO get everything demone-
tized but gold, and all other representatives.
of money are merely evidences Of loan, or
debt which is owned by the mighty few
who control the little gold there is in the
world, which is growing less by the demand
the arts are making on it, and Of course is
growing dearer, measured by the products
Of industry and fxe,l property. With this
immense volume of debt whose interest
annually increases in its power to purchase
as the volume of money decreases in proper
ton 10 population and production, it will
not be long before all the property of the
country will belong to the few who now own
the debt If they can manage to keep money
confined TO gold alone. That debt now
controls all the gold in the world, ($4, 000,-
900, O00), and that is the money which alone
can liquidate debt-at present. All tokens
of money refer to this gold as the ne plus
ultra. The small intermediate debts con-
| fracfed and tlair hafwaon inA;u;d,,als .v;,l,