The midland journal. (Rising Sun, Md.) 1885-1947, 1894-04-20

gains. The destruction and contraction
of money by whatever means, is the
prime cause of low prices, and while this
compels the borrowing of money it also
enhances the purchasing power ofinterest,
and every credit transaction is an add
tional tentic1e laid on the veins of labor
to extract more blood. The ''credit" and
Confidence which is the theme most
dwelt upon by the banking and speculat-
ing class, as being vital to business is on
the contrary the cancer on the breast of
industry which is eating towards its heart.
The money of country widely differs
from the wealth or commodities of
country, which are the result of labor
Money is not created for consumption,
while all the products of labor are in
tended for, and applied to, personal use
or enjoyment. The State creates money
not for any one or company of persons
but for the use of all In order to facili-
tate its Use by all and its rapid distribu-
ton to supply the demands of trade,
banks were invented. A certain shrewd
class of persons have adopted the business
of banking and have become money
cornerers. They have established depos-
itories for the reception and distribution
of the peoples money. What one de-
positor doesn't want for immediate use
they loan to another. Money being COM
paratively limited in amount to the
demand for its use, the demand is very
great This demand is taken advantage
Of and the interest demanded for the use
of money amounts to more than the
products created through its use supple
mented by labor, will sell for after the
portion necessary for the 1aborer's sub
sistance is set aside, and thus by the
expedient of diminished circulation, or
quantity of money, prices are pulled
down, borrowing is made necessary and
interest and debt increase in purchasing
power at geometrica1 ratio.
This subject is fruitful theme for
research and offers wide field, branch
ing out and causing the unbalanced con-
dition of the social and business world
which we have not space to pursue. The
main question is how shall it be corrected !?
There is but one way open to our present
econom C system, which is sufficient
volume of money to supply the legitimate
demands of the country, furnished by the
government and banks or distributing
agencies established by the government
for the use of the people, through which
the money would be distributed at the
cost of the business and insure the depos-
itors against loss. This financial reform
is the great need of our time. This would
destroy the private or corporation bank,
the great money cornerer, and insure
both branches of labor, the producing
and the distributing branch, their mutual
and just division of wealth. The great
wrong imposed upon the wealth produc-
ing and distributing class, by the gov
eminent, is the privilege it permits a
shrewd class to usurp this banking priv
ilege or the distribution of the money
The privilege to coin legal tender money
might as well be placed in their hands,
for every dollar of credit they loan,
amounting to many times the amount of
money in circulation, is the power to
collect tax from labor on every dollar
of this imaginary money, and to manu-
facture and loan the comparative trifing
amount of real money in circulation
would add but moiety more to their
great franchise.