The midland journal. (Rising Sun, Md.) 1885-1947, 1892-12-16
The International" Monetary
Conference.

This political fiasco is played out. 1t
deceived no body except perhaps President
Harrison. He said the fixing an immovable
standard between silver and gold by such a
conference had been the dream of his life, or
something to this effect. How any Amer
lean could entertain such dream is past
comprehension, much less President of the
United States. The gold ring of the United
States, which is the bankers, is against sill
yer money and in favor of gold for one
reason. That reason ought to be plain to
every one who will consider the subject.
There is very little gold in the world in
comparison to the amount of money required
10 do business and the banking fraternity
discovered that the credit of the government
vitalized by law of congress could create
any amount of money demanded by the
necessities of trade and commerce. This
was proven by the greenback trial during
and since the war. Before that era the
bankers and people believed that nothing
but gold and silver could possibly constr.
tute money. After the greenback and
national bank note experience this fallacy
was xploded-among bankers, but the
rank and file of the people are still in bliss
full ignorance of this truth, and still indulge
in golden dreams. intrinsic value, and credit
based on coin. The leading bankers and
money manipul ators know this is stuff, but
they must keep up the delusion among the
people. This money conference was side
show, trick to draw the attention of the
people from the main point of the game
like the tricks of the juggler. The milk liz
this cocoanut is easily understood. The
bankers of this country as of the whole
world have managed to have the credit and
money functions of government transferred
to them. They use little money for bait,
as it were, to fool the public, and loan the
industrial classes the credit which the
government has turned over to them. This
government credit, together with the token
money, the silver. the greenbacks and silver
certificates to make change is..all the bankers
want. I'he government credit constitutes
the great volume of the money of commerce
and business. That they loan and draw
interest on in fabulous amounts. Gold il
not used as money at all in the sense tina
the public understand money, but as count
ers by the banks to balance their accounts
1t answers best for this purpose because it
commercial value is equal to its coin yalu'
on account of its comparative scarcity
Wheat, cotton, pig iron, etc., would answer
Just the same if they were as convenient II
handle. These cunning bankers found ever
gold too inconvenlent to handle. and the.
persuaded Uncle Sam-these gentlemen cal
always persuade him by tipping his servant
TO issue in place of the gold coin, gol'
notes of ten thousand dollars each, $6S, 600,
900. Notes of five thousand dollars each
$35, 100000, and a large number of on
onl b,nJnoJ ALL ~
These big gold notes are kept principally il
New York as counters at the clearing hous
where the bank clerks meet daily to seuar
their books ana balance accounts by thes
gold counters. 1t will be seen by followin,
up and analysing this transaction that gol'
is not being used as money at all, in ii
proper sense, but it is the credit of tn
government which the banks loan to tn
people. who are engaged in productive EN-
ployment, that is performing the function
of money. This loaned credit pays heav,
interest to the bankers, who keep up tn
bamboozling game ofplaying gold off OIL
the people as money and the only money.
The people who borrow this government
credit, which they think is money, from tn,
banks, check against it to pay their bill
and balance their accounts, together will
about four or five hundred million dollar
ofsilver, greenback, national bank notes anc
silver certificates, which they use as counters
in their daily transactions of trade.
To perpetuate this gold juggle and pro.
long their reign of usury, is the sole objec
of this monetary conference" While
these practical fnanciers can delude the
public with the gold juggle trick and draw
hundreds of millions of interestssevery yeal
from the wealth producers of the country
they will fight to keep up the delutson.
If silver was remonetzed this gold decep.
ton would be broken, and the addition to
the volume of money put in circulation
would curtail the purchasing power of gold
and diminish also the power of the banks to
collect interest on their credit invisible
money. When the public come to under.
stand the game of finance, and it is so plain
wayfarer ought to see through it, there
will be new leaf turned in financial mat.
tiers in this country. If the credit of the
government is being loaned TO the wealth
producers by class of corporations at high
rates of interest, the people will ask why
should not the government coin this credit
into paper money and allow us to use i,
without interest, in place of turning it over
10 bankers to loan us at high rates of in
terest? This question will prove corker