The midland journal. (Rising Sun, Md.) 1885-1947, 1892-02-12
Friday. Feb. IL, 1892.
Usury--Its Curse and Cure.

more bold and conspicuous in history than
all others ii is the degradation and ruin
which nsury has wrought on the human
race. It has been the parent Of poverty,
moral degradation, ignorance and crime.
Trace it in it's many forms through history,
and its deyilish work is found in half civ
ilized and civilized nations. It's methods
are often almost unacceptable as the work
or the same monster, but close investigation
reveals the one heartless demon, always the
devouring beast.
Ia our modern civilization il has reached,
probably the pinnacle ola refined art. There
ii no man, woman or child engaged 10 pro
ductiye industry who escapes its sucking
tubes. How shall The monster be got rid OF
il the great question of the hour. The
masses have at last discovered their enemy
and have located him. But his sucking
tubes are 90 numerous, so far reaching, SO
we'll concealed. They lie beneath the sur
face OF society like the roots of tree hid
den under the soil, but SO thickly and fine as
10 form a network, a web with mouth at
every pore. There is but one mode OF es-
cape from the Unsuitable greed of this ever
devouring monster, and that is through the
cooperation Of government with labor. ln
short cooperative government. There IS
no such thing as money but through tie
edict Of government. Money is created by
law for the use and convenience of the
people, and not to become an instrument for
robbina people, The great delusion that
silver and gold are money has been brought
about because barter used these metals OK
account of the greater convenience they
afforded; and when money grew out OF bar
ter they naturally stepped into and occupied
the placed assigned to money. When men
talk Of intrinsic value in money they are
talking without knowledge. When they
talk Of measuring value by or with money
they are the victims Of delusion. When
they talk OF redeeming money they talk
foolishly. Interest on money is the abuse
Of ii. IT is selling the future for the use Of
the present.. Then what is money and its
true function? 1t is tool OF labor and
credit by its possessor or temporary owner
against The merchandise of the world. Money
cannot be redeemed. It is exchanged for
many things. 1t goes from hand to hand.
III a paper dollar is exchanged for metal
one the latter only takes the place of the
former, and from condition of inertia pro-
ceeds to perform the function Of money. II
its owner attempts TO use it for any other
purpose than that Of money it at once and
for eyer ceases to be money. Money Is
credit against the merchandise and labor OF
the world in favor of the person who
possesses ii. When he parts with it his
credit is cancelled, and its next owner has
the credit transferred to him.
We want this credit which money repre-
SCENTS to be free from usury. There is but
one method under heaven by which this can
be accomplished, which is by the co.opera-
ton Of labor through lis government. There
is no power great enough to accomplish this
result except the omnipotant power Of gov
eminent. Government is the only power
that can make money. II accomplishes it
by law. Let the power 10 make be supple
mented by the power to distribute, and lei
the work OF distribution be done for fixed
price. Two per cent has been named.
Then say two per cent. The demand for
money will regulate the supply. If the
government establish repositories the peo-
pie would gladly deposit their money with
1t in preference to any bank. Every pos,
Office could be made place of deposit with
one or more central banks in every county
to which The deposits should be sent daily.
A post office check ON the central bank
would be received anywhere, the same as =
money order. A money order is nothing
more than checking through the post office
where money has been deposited, on the
government at distant point.
1t is the great scarcity Of money thai
causes the power Of usury to be SO devour.
ing, so consuming. Sixty-eight billions Of
business was transacted last year with mol
more than six per cent Of money. That in
tlngibse thing called bank credit stood fol
all the rest and beside i. stood usury with
his shy lock kuiie cutting to the heart every
messenger Of industry who came to ask ait
from that credit to supply the place o
money. It is money. real money the people
want and for no more expense than counting
il ont and keeping the books entail. Th'
land and products Of industry stand a
security for full supply of that money
which alone government can afford. Their
can be no over supply while that securit,
stands as the collateral endorser.
There could not and would not be |
hnngy person or an intentionally clothet
person suffering from cold who was abb
and willing to earn living, in this who'll
country, If there was money to employ th'
now enforced idle labor. There is undevel
oped wealth enough in this great country
60 employ all the able people in il in pro-
ducing q comfortable living. Fifty pei
cent more would be produced If the willing
labor seeking employment was employed
and every ounce of those products would b,
consumed BY those who now sorely neeC
them in order to be comfortable. In III,
last twenty years this monster usnrJ
through lis banks alone-only one of III
channels--has devoured five thousand mil
lions of the peoples substance, and Kindred
The production of many times more. How
shall this monstrous wrong he righted, thi'
bliehting evil stopped By changing ths
wnvprnmenf from one Of class 10 govern