Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1894-05-30
For the SPECTATOR
The Money ENHANCEMENT.

The wellestablished succession to the Crown
of England, her conservative form of govern
ment, her shrewd and persistent line of
diplomacy combined and exerted for near one
hundred years in establishing financial
policy, has accomplished her purposes to
make London the financial center of the
world. By means of her dominant and
Ubiquitous marine, on which the sun never
SETS she feeds and strengthens her power and
influence, which none dare dispute on the
water. London is now to the world what
Rome was in her palmyest days-Rome on
the land and England on the seas. The
nations of the earth have walked up and dis
covered that they are all debtors to England
and are cfamoring for more money and en-
deayoring to propitiate her favor. The United
States of America declared and achieved their
political independence of England but are
their debtors and appear now chiefly con-
cerned to clear the way to get deeper in debt
to her, rather than to pay present indebted
ness and secure their financial independence.
1.-The borrower is servant to the lender" Is it
not remarkable that so great people as that
of America possessed of such immense and
varied resources. of SO much learning, in
ventive genius, skill, enterprise, personal
manhood and national pride, should volun-
tarily seek to continue to be dependent on
English capital, when it is alleged that the
American banks are crowded with money,
and that the money metals are so abundantly
produced in our mines as to impair their
value? Much may be said here by way of
apology and explanation, but the main en- :
quiry strikes the mind with great force. If
we are the people we sometimes boast to be,
the American family should be able to live on
its own capital The English family do not
think of borrowing capital of America. They
exchange products with us but little per cent
do they pay to our capitalists. But probably,
the whole answer to our embarrassments lies
in the want of an intelligent, uniform and
persistent national financial policy. Under
the pernicious systems of party politics, which
override and Illustrate any intelligent national
policy, our politicians are continually on
strain to discover the trend of an unintormed
public sentiment on some of the most diff
cult problems of political science, one of
which is the matter of money and general
finance. The masses have not the time, or
means of information, necessary to fully de-
termine many questions hence, we need in
dependent statesmen, who "roWld rather be
right than be PRESIDENT" or would resign the
highest offices than to mislead and do the
country wrong. The United States should
never consent to be a financial Province of
any great money center abroad. The I'M
settled condition of Europe and now America
bodies no good to capitalists who have been
instrumental in producing it. Present in
debtedness, public and private, was predicated
on the volume of money and profits and
prices then existing. The shrinkage of
values, which is now in progress, will render
debtors unable to pay their debts. and the
heavy government expenses. The popular
voice chooses the law makers, and under our
present system the majority has the way for
disintegration and readjustment. We have
had experience in Virginia which ought to be
sufficient caution against over-reaching greed
on the part of the capitalists of the present
generation at least. Bankrupt laws, read
justment and reputation advocates may be-
come fearfully numerous if the people are
driven to desperation. "a government of the
people, for the people and by the people, -
will have It's way under universal suffrage
The love of money is the root of all evils
and often the prompter of imprudent counsels
beware before the storm is set in motion