The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1894-09-28
THE MONEY POWER.

4
political economist of note. The article
is marked by scholarly research and is
especially interesting in that it fixes
the origin of the concerted movement
to permanently give to money and in
ordinate value, result that is equiva
lent to the permanent under valuation
of commodities produced by labor.
The power back of this movement, to
/ the rapacity of which the world mainly
owes its present crushing burden of
private and public debt. is located in
the money center of London and is the
same to which the Republican party
betrayed the finances of the United
States as part of a monstrous conspir
acy to place the productive forces of
the world under lasting tribute to
| Insurers.
Could the incontestable historical
facts tabulated by Mr.. Adams be
brought to the knowledge of the masses
Of the people of this country they
would compel convictions of the exist
ence of an organized money power
WHICH HAS duidSSOSl anu 10 uILlEtoolLlSS
ormous wealth by plundering those
who produce it--a power that is strik-
ing at the root of our social system.
that is a menace to civilization, since
by cacsing incalculable human suffer
ing it is breeding dangerous discon-
tent, as witness the agrarian insurrec
tions in Italy, the anarchism of France
and Spain, the socialism of Germany
and England and the most sanguinar!
labor strikes in Europe and Americ'
ever before known.
Mr.. Adams states momentous truth.
a practical comprehension of which by
the voting millions of our republic vii
give the key to industrial emancipa
ton When he says that no single
force has wrought so ceaselessly an
yet so subtly on mans destinies as the
mysterious influence which causes va
riations in the value of the money will
which he buys his daily bread.
1t is the instinct Of the money lend
ing class to endeavor to augment the
value, l. e., the purchasing power OF
money. This end has been attained by
demonetizing silver and thus reducing
the volume of the circulating medium,
for, as Mr.. Adams says, the proposition
of Mills is seif-evident, that san ii
crease in the quantity of money raise
prices and a diminutiOn lowers them
Therefore, continues Mr.. Adams, ''as
the purchasing power of the standard
coin slowly augments under his mani
pulation, the creditor is able by a sub
tie and almost imperceptible process.
to absorb the profits of the produces
and to appropriate the property of tn
debtor
The Interpretation of this, applied Il
the industrial status of our country, j.
that farmers and planters are not sell
ing wheat and cotton at third of theiI
normal value, not because of overpro-
duction, but because of the manipula-
ton of the money system of the civil
zed world by money sharks, thereby
causing an outrageous increase in the
purchasing power of money and de
plorable diminution in the PURCHASING
power of the toiling millions. Armies
of skilled labor are idle and privatiol
abounds among shop and factory hand:
| because the ability of the farming
population to buy manufactured good,
has been ruinously reduced. Farmins
as prosperous industry, returning
| fair profits on investment and labor
has been blighted by the greeu OF
money lenders among the nations OF
continental Europe and in England as
well as in the United States. The agri-
cultural class is everywhere the basis
of society and with its ruin there cal.
be no general prosperity.
Mr.. Adams quotes history to prove
the unfailing uniformity with which Al
influx of the precious metals and col
sequent increase in the quantity of tb'
medium of exchange has stimulate
prosperity and intellectual growth
while the present policy of plumber b.
/ contraction has never failed to paralyze
progressive impulse and spread human
misery.
Mr.. Adams traces the origin of the
creditor class, in its modern and pc
/ tential sense, to the beginning of the
present century, or to the vast increas'
of national Indebtedness ano conse-
quent accumulation of capital in inter
est bearing bonds The Napoleonie
wars increased the debt of Englane
from ETA, 100000 odd to 9861. OOo.OOo
with an annual interest charge of e32.-
$4,000. The creation of this bonded
Indebtedness, together with the accu-
mutations of the products of labor due
to the expansion of production under
the impetus of discovery and invention,
inspired the organization of capital for
the purpose of shaping legislation IN
its own interest. This is the origin OF
subsequent legislation having in view
an artificial rise OF the standard By
which property is measured, including
the discardment of silver as primary
by Republican congress in 1873, fol
lowed the same year in Europe by ad-
verse silver legislation melted by the
same graspiBg and aggressive power
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