The midland journal. (Rising Sun, Md.) 1885-1947, 1893-10-27
Friday. Oct. ~, 1898.
Where Missing Values are Hidden

Farmer A gave Banker B mortgage on
his farm for $4,000, when the farm was
worth at a cash sale $4,000. Wheat at that
time was selling for $1.25 bushel and all
farm products on the same plane OF prices.
Immediately after the NOR gage was
secured by Banker B he, with his associates
in the money specializing business, COM
menced locking up the money till they had
reduced the circu lation TO one-half what it
was when Farmer A gave Banker B the
mortgage on his farm for $4,000. On &C
count of this artificial scarcity of money,
caused by locking it up, the produce OF
cents bushel and all other farm products
in the same ratio. Farmer AS income from
his farm is now but half what it was when
he gave Banker B the mortgage for the loan
of $4,000, and the cash value of his farm
has fallen in the exact ratio TO the income
received from the farm andis now worth
only $4,000 at cash sale.
Banker BIS mortgage has not shared the
corresponding fall in value with that of the
farm and its products, but has held its
original nominal value of $4,000 with lis
annual interest of per cent, or $l2O year.
By putting S. to his interest Banker B
could buy 100 bushels of wheat the year the
mortgage was made. Now with the $40
interest he can buy an even .200 bushels OF
wheat.
The mortgage is now worth as much as the
farm. What has become of the missing
two thousand dollars which AS farm was
worth more than the mortgage of Banker
at the time the mortgage was made? 1t is
in that locked up money in the banker s
safe. By making the money in circulation
scarce by Withdrawing one half, has made
that half in use worth as much as the whole
by reducing the price Of all products grown
on Farmer AS farm, and as natural con-
sequence has reduced the cash value of the
farm also.
The $4,000 which the mortgage of Banker
B represents is called by all the national
bankers and their subsidized daily papers
"honest dollars" and the 81 900 which was
the cash price of AS farm when this mort
gage transaction was entered into is now
called by these national bankers, their big
daily papers and their attorneys in Congress
dishonest dollars"
We have only 10 substitute for this mort
gage of Farmer A all debts of every kind,
public and private, company, corporation
and individual, entered into twenty and
thirty years ago, aud the shrunken value of
AS farm for the present conditions existing
between debtor ard creditor, Throughout the
entire country; and burning up and destruc-
tion of the money in circulation by the
United State Treasurer which took place
from 1865 to 1870, for the locking up Of
money by Banker B, and we have discovered
the subtle alchemy by which the value of all
property has been transferred from the
debtor to the creditor class, by reducing its
cash price from what it was, when the debts
now resting upon it were contracted, TO one
half or less. The nominal or face of the
debts remain the same, while the reduction
of the volume of money in circulation has
decreased the cash value of all property and
the products of labor, in proportion to the
volume of money they have to be exchanged
for. By the subtle alchemy of diminishing
the quantity of money in circulation tht
missing value OF property has been trans
ferred TO the debt resting on it withou
apparently increasing the size of The debt
but that debt will require twice as mucl
property TO satisfy it as when it was created
And the non-producing class tell the pro
ducing class with the effrontery of Satan
that the dollars which debt calls for ar
"honest dollars" and that the origina
value of the same debt now represents eds
honest dollars" Does anybody with iv
grains of common sense believe this story G
the bebt holding class?
These stolen values can be restored t
their rightful owners by increasing tn
circulating medium 10 correspond with il
relation to debt when the debt was created
and the present dishonest gold dollar of th
creditor class, be replaced by the 'hones
dollar" which existed when the debts wer
made. There is no other solution 10 thi
''money problem" that is honest or tn
American people will accept.
Fifty Dollars Per Capita not