The midland journal. (Rising Sun, Md.) 1885-1947, 1894-12-28
LIVE ISSUES.
The Monopoly of Money.

the money question. He is one of
these unfortunates who hasn't got
past the old time delusion which
was accepted as maxim that 'free
competition is the life of trade"
and establishing this as his prem
ises, claimed that there was no
monopoly in the banking business,
for, said he, the brokers and bank
ers loan money and the borrowers
go among these dealers in money
who bid against each other for Gus
tom like retail dealers in merchan-
disc which prevents a monopoly in
money. Among this class of money
dealers is not the place to look for
the monopoly of money, although
they constitute the minor banches.
The monopoly of money is worked
by contracting the volume of cur
rency, which is the business of the
great gamblers and spectators in
stocks and property. By contract
ing the volume in circulation they
lower the price of property and
increase the purchasing power of
money. A debt is an obligation
entered into between the loaner and
borrower of money. If the loaner,
after securing line of debts or OBJ
legations payable at some specified
future time and before the day of
payment arrives succeeds in con-
tracing the volume of currency so
that the value of the security
mortgaged to guarantee payment of
the debt, diminishes, disabling the
debtor financially to such extent as
to make it impossible for him to
meet the obligation on account of
of the fall in price of property or
falling off in business, the mortgage
is foreclosed, or collateral is sold at
a forced sale, On account of the
fall in price the debt holder OF
creditor is enabled to secure prob
ably double the amount of property
for the amount Of money invested
that he could have at the time his
loan was negotiated. This is the
result of one phase of the monopoly
of money-possessing the power to
contract the volume of money. The
power to contract includes also the
power to expand, which operation
in the opposite direction increases
the selling or money value of prop
erty, and when prices begin to rise
people begin to buy and bid against
each other to secure property. The
money speeulator who has bought
long, in the language of the street,
by taking property by foreclosure
of mortgages and sale of collaterals
pledged as securities, now sells
short, to express in street slang the
SPECTATORS operation. That is, he
sells the property of whatever kind
on the rising market, at an advance,
which he has secured under a con-
ditiOn of contracted currency or
scarce money. To be enabled to do
this the manipulators of money
must gain the power to mOnopolize
money. This has been secured in a
large measure by the demonetiza
ton of silver and the substitution
of a single gold standard. Gold
constituting only one.half of the
STANDARD" which gold and silver
together constituted.
The trick OF standard, or final
payment money is the key to the
monopoly of money. If this stan
dard is confined to one metal the
quantity being small, can be cor
nered and its value raised. When
the money speculators or monopo-
lists of England, who are prin-
cipally Jews, had secured a large
line of debts in the shape of gov
ernment, railroad, municipal, etc.,
bonds on the principal nations of
the world they commenced opera
tions to demonetize silver and make
the money of final payment scarce.
All other money such as bank
paper and government issues of
paper We're held to be payable in
gold, and the class who hold these
obligations, who are designated
creditors, control the gold also, by
being able to command it in pay
ment of interest on, and in liquida-
tion of, the bonds, stocks and
mortgages they hold.
Tho pnactor cvic;fo =, 4Lo .u.o-.a.