The advocate., 1894-01-17
MUST FHE MASSES srARYE2
What Is to Be the Outcome Of the Pres
ant Financial Condition.

that we have reached point where the
masses must stsrve because there is too
much to eat, to go clad in rags because
there ia too much clothing, cold because
there is too much fuel, and houseless be-
cause there are too many houSesP
ParRdoxical as this may seem, without
o wise solution Of the financial question
this would seem apparently true. I have
been acquainted with the condition Of
the masses and connected with organizs-
tions for forty five years, but never at
any time have / seem so many unem-
ployed and looking for work in vain.
Manufactures are closing down, mer-
chants cannot make collections, and
every day adds to the gloom OF the day
preceding. We hear the question asked
q hundred times day, what is the cause
Of the present condition? The answer
comes almost invariably the ssme-R lack
Of confidence. This is " often said that
a large proportion Of the people have
come to believe it. 1t is not confidence
that is needed; it is money. Confidence
will not pay debts. Confidence will not
feed the hungry, nor clothe the naked,
nor house the homeless. But money
will. The cause Of the deep depression
now around rs does not arise from pro-
duction or our ability to produce, but it
does arise from q wickedly conceived
conspiracy to rob the tOilers and turn
them over, bound hand and foot, to the
tender mercies Of the Shylocks Of the
world. The apparent struggle for the 30
called gold standard is not real, but is put
forward TO deceive and blind the people.
From the best authority in Europe and
America, 95 to SO per cent. Of all business
is and must be done with credit The
real fight Of the money-chsnger is to OBJ
tain permission to issue and control
the credits, and through such issue to
control the rates Of interest and volume
Of money that is used by mankind. The
amount collected at present in interest
from the producing classes in the United
States alone, according to the best OBJ
tsinRble authority, is over $1,000 O00 600
annually. Taking the figures gwen By
the silver commission, and deduCting
therefrom 81 1,O00,O00,OO0 on the national
debt, and adding the mortgage on farms
and homes, at the average rate per cont,
and it will require the labor Of 1000, 600
men, working every day in the year, at q
dollar a day, to pay the present amount
Of interest paid. Now, it is safe to say
that confidence will not pay this interest.
Labor, and the products OF labor, ex-
pressed in dollars alone can pay this
debt. The question is, who shall create
and issue these dollars, and to whom does
the profit Of their use belong. 1t is
well known fact that to create and issue
money is an attribute alone Of sovereign
power. It is also q fact that tte credit
Of the whole is equal to the combined
credit Of all its parts. 1t being then
fact that business must be done with
credit, for the precious metals combined
can do but small portion of it, neither
can they be- safe basis for such credit, it
is therefore safe and wise to use that
basis which is abundant and immovable.
Let the land be the basis of credit, and
we have basis that is indestructible, and
no longer pyramid standing on it's apex.