The midland journal. (Rising Sun, Md.) 1885-1947, 1895-07-19
The Downfall of Usury.

article on the fourth page under the above
caption, from the Philadelphia Item. 1t
embodies the financial principle which
has long been contended for by the MID
LAND JOURNAL, and leads up as logically
as a mathematical demonstration to a
government banking system, in which
the principle of usury will be eliminated
in the distribution of money, and accum-
ulations of money lie dead, proftless
mass unless vitalized by investing it in
productive industry
The policy of greed combined with ig-
norance practiced by all overbearing class
of bankers is driving the world toward
this haven of relief. The advanced think
ers ON finance are beginning TO see more
clearly that usury has brought the indus
trial class of the world to their present
hard conditions. Notwithstanding the
immense productive capacity of industry,
which the invention of machinery, and
science applied to the arts have created,
the workers all along the line are be-
coming yearly more cramped, and find
their energies and producing force less
able to prevent them steadily nearing the
borderland ofpoverty. Let them strain
every energy of muscle and brain as they
| will, with the resistless suck of the mael-
strom they are drawn steadily to the
vortex. Thousands are going down in
the wreck of bankruptcy every year, by
no fault of their own. Forethought, care
| full business management and economy
do not suffice to save them from ruin.
Usury is the whirlpool which is irresist-
ably dragging them down. The scarcity
of money combined with the ever increas-
ing power of production and the speed of
exchange which steam and electricity
have wrought, is choking the wealth
creating class. They are running foul of
each other in the struggle. Money is the
distributing element of the worlds newly
created wealth, which flows in all ever
increasing volume from the hands of
industry, magnified in their powers by
Liz lllNSHllolio vi Liz
This all important medium for the free
exchange and rapid distribution among its
users, ofthis vast volume Of the utilities
of modern life, is held, cornered, in the
hands of comparatively small class of
bankers, who exact tribute in the form of
| interest from every producer and distrib-
utor of wealth who is compelled to use
money in his business.
To enable these professional cornerers
of money to the more efectually control
their business systematic, well organized
effort has been steadily pursued to de-
crease the volume of tangible money, and
force the industrial, money using class to
become more and more dependent upon
them. With this end in view the destruc-
ton of silver money was commenced in
England in 1876, by which the 1aborirg
class of Great Britain was robbed. Taking
advantage of the slavery rebellion in this
country the conspiracy was carried into
effect in the United States i'll 1873, and
completed under Cleveland in 1898.
| The next drive of this band of bank
money plotters is the destruction of the
government paper money, greenbacks
and 1890 legal tenders, about $500, GOO, 900,
by converting them from money into
national debt extending through loug
term of years, that debt drawing interest
night and day as steadily and increasingly
as mountain stream flows.
If this can be accomplished the next
move is to make all silver money and the
certificates which circulate in lieu of the
silver, "redeemable in gold" OH demand
of the holder. Except the mere change
for the conduct ofsmall retail transactions
and wage paying, no other real, tangible
money would then circulate. The con.
spiracy of the money trust would then be
complete. All applications for the use OF
money would be filled by credit ON the
bank ledger with orders to check against
that credit. The bank "credit" would be
based on the government bonds, which
would represent the banks capital, with
the government placed under this bonded
obligation to pay interest and redeem
these hundreds of millions i'll gold, while
the little moiety of gold was in the hands
of, or within call of these usury conspir.
ators. Outside of the retail business and
the laborers daily wages all money
would consist of bank credit, every imag-
mary dollar ofwhich drew interest. This
is largely the condition of the business
and money relations at present, and the
goldite gang are fighting for the complete
success of this last step with the inspira-
ton of avarice and sordid greed.
That their policy is selfdestructive is
nominal interest which the rent of idle
money has fallen to in London, less than
three-fourths of one per cent And why
| is this? Because usury or interest has
devoured industry, or absobed its products
till there is nothing left with which to
pay interest OIL further loans.
The entire policy of this gold ring
money trust is self-destructive, but lis
own destruction follows the destruction of
every useful industry, as the parasite must
die when it has killed what it feeds on,
perishing i'll its own barren desert,
victim of the ruin it has wrought. What
is the remedy? The simplest thing in
the world Let the government estab-
lish banks for the people to deposit their
money i'll and borrow from at barely the
cost of transacting the business. Such
banks could supply all legitimate de-
mands where ample security was offered
to guarantee the return, or payment of
the loan at maturity The money Ioarad