The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1892-02-12
PEOPLES BANKS.

erty-striCksu labOrer and the business
man who IS trembling on the verge of
bankruptcy, all suffer from the same
causes and would be benefited by the
same measures Of relief Neither the
producers OF wealth nor the legitimate
business classes Who render useful
service by its exchange have any con
trolling power over the machiuery by
which all exchanges are Effected by
law and custom, money is the medium
By which all debts must be paid on the
demand of the creditor The price of
products is expressed 10 the language
OF money and when products change
hands money Is the consideration
Hence money is the chief factor in the
mechanism Of exchange, and money is
controlled by the favored few, who by
law are enabled to dictate the manner
OF its distri button
This legalized monopoly Of money
is equivalent 30 a monopoly of all that
money will purchase. The people
create wealth by labor, but money can
only be created by law, and the few
who have secured . monopoly of
money also control the law makers
elected bv the vote OF the people This
imperial power Of money controls the
press, the politician and even the pull
pit. and at its command false ideas are
disseminated among the people The
press and the politicians raise false is
sues and seek to keep the people
divided into warning factions concern
ing matters which have but little or no
bearing upon their social or financial
condition, while from the pulpit they
are taught to owe no man any Ythings TO
pay all their obligations to the utmost
faFthing according to the strict letter
of the contract
All agreements to pay are agree
ments to pay money while the masses
of the people have nothing to pay with
but the products of their labor Or
gsnized wealth is the creditor, aud or
ganized wealth controls the legal me
dium by which debts must be paid. To
pay the debt would stop the interest
and cut of the income of the creditor,
and such a creditor as this imperial
money power, which is the product of
usury in it's varied forms, viii not per
init this Hence the people are com
PEELED to compromise, turn over the
products of their labor at price fixed
by the creditor, pay the interest, eN-
| tend the mortgage, and in case of a de-
hciency, negotiate "a new loan, and
| thus increase the burden OF debt
This imperial power of money stands
/ between the producer and consumer,
and exacts n tribute from each With
| its control over the medium by which
debts must be paid Hld exchanges effect
| ed, It is practically both le buyer
| and the seller of the products of labor,
| and hence has but little use for money.
l The large operators who constitute the
/ imperialism of wealth, effect all settle
ments through banks and clearing
houses, where one account cancels
! another, requiring only a very small
| percentage Of money to pay balances,
and this may take the form Of a check,
! secured, perhaps, by a Kansas mort
! gage. The money thus saved by
~ l.. . e
/ to producers and to those who pur-
| chase their products and furnish their
supplies In every exchange effected
/ by this borrowed money the in crest
| is added to the product that is sold aud
| deducted from the product that is pur-
| chased, thus heaping usury upon usurys
| to be paid by the consumers Under
/ this system it is only the farmers,
! wage workers and retail dealers who
4 have any pressing need for money, aud
1 the large operators who control the
| supply see to it that they are not able
! to get the use OF it without high rates
! of interest secured by cut-thrOat mort
! cages on property
/ 1t is thus that the producers OF all
| wealth, who are also the great mass of
! the consumers, have become the great
/ debtor class of the country while the
| few who control the medium by |hich
! debts are paid constitute the creditor
| class. The debtor class, as a producer
| -3f wealth, pays interest to the creditor,
and as a consumer, it pays profits TO
| the same class Thus this imperial
power of money robs the people accord
ing to law. and has established a despot-
ism, in the name OF liberty, more power
ful than any political desp5tism that
has ever been established on earth il
absorbs all the wealth created b7 the
| people, as interest profits, ETC. and is
| tions in iuterest-bearing securities, up
{ on which the people must pay interest
The more wealth that is created by the
people, the more this Unsuitable credi
/ tor is enabled to absorb and the more
| emectualIy is it enabled to Opprsss the
debtor without violating a single Law
of the state or nation, and In strict ac
cordRnce with the popular code of bust
/ ness morals which has been established
among men by the false teachings OF q
money dssPotism-
According to law and custom, all
property possessing q money value :.
I regarded as entitled 20 q peEcan taEe oil
increase equal to the legal interest thaf
would be allowed for the use of the
money that it would sell for in IN,
market Even many reformers recog
nize this as a correct principle and il
counting the cost OF any interprizer add
/ interest on the Investment as some
. y
or outside of q full compensation fo
all the services rendered 70 society, to
B gether with cost of repairs and iusur
aucs against loss such calculations ar,
PRESENTED with simplicity that wouti
b lra amusing TO an acute reasousr, wer
2 II not for the serious nature of the erro
/ to which they give countsuaucs- b.
/ this rule, a railroad. for instance, tha
cot 500, OOG. 600 to construct, would b
juFtIy entitled TO legal interest on sIO3,
COO 600 in addition 20 fRlI and squita bI
CON mpsussttoH for all the service rem
I dsresl to the people 1t thus become
I IN effect a permanent iutsrsst-bearin
/ debt The same principle applies &
/ any nsnu ufacturiug establishment fac
tory, mine, electric light plant oF othe
/ enterprise This principle regarded a
2 Legitimate and just by so many IL
I could be universally applied, vvouI
I make all created wealth in effect al
: interest-bearing debt against society
This false principle Is she keystone &
/ our false economic system which
!. [ responsible for nearly all there is c
' f T,r,vargv- with all its attendant couse