The midland journal. (Rising Sun, Md.) 1885-1947, 1895-08-02
The Cause and Cure.

boats, and II half, more or less, Oh THESE
means of transportation was suddenly cut
off, all can imagine, better than it can be
expressed, the distress to the public and
ruin to large part of business that would
result. Money is just as essential i'll con-
Quoting this class of business as these
means OF transportation. Work OF no
kind can be carried on to any great ex-
tent without the use of money. Without
its use production would be limited to the
smallest amount necessary to maintain
existence of the producers. Without
money the transfer of values could not be
made from person to person except by the
slow and limited means of barter. To
produce and transfer the value of the
products of industry and distribute them
in the necessary small quantities among
the users, it becomes as essential to have
full supply of money for the purpose of
doing this work with facility as to have
ample means for transportation. 1t fol-
lows, therefore, these being self evident
facts, that the sudden or even gradual
diminishing of either the means of pro-
duction and transportation, or the medium
for transferring values, which is money
will cause shock and depression or de-
moralization of business. This we find
has taken place. Business is demoralized
and property has shrunken to half its
former value, estimated by the number of
dollars it can be sold for. The means of
transportation have not been curtailed,
therefore the present depressed condition
of business cannot be attaibuted to that
cause, and must be ascribed to the dimi-
mutton of the money supply, which all
know has taken place. The evidence is
conclusive that the scarcity, the diminish
ed quantity of money in circulation, is the
cause of the widespread distress which
has settled over the country and which
has been steadily increasing for thirty
years.
In that time population and business
have expanded; or the former has ex-
banded while the latter has been i'll a
constant struggle to expand, and has
resorted to every means by using credit in
place of money and mortgaging the future,
with results which all have seen, bank
ruptcy and ruin to thousands of enter
prises which would have prospered and
nourished their promoters had there been
sufficient money in circulation to have
nourished a healthy and growing industry.
The destruction of the national paper
currency at the close of the war by con-
verting it from money into interest draw
ing national debt was the first step i'll the
destruction of the essential medium for the
transfer of the value of property and the
promotion of productive industry. The
second step was closing the minis against
the coinage of silver at a time when the
country had commenced to produce large
quantities of this money metal, and thus
preventing further supply from this source
which was as old as the centuries.
BY these two destructive strokes no
source was left open by which the bus
mess of the country could obtain money,
which the necessity to increase it constant
ly demanded, except through the national
banks. The banks in place of increasing
their circulation steadily diminished it.
There being no money added to the vol
ume in cirulation it was steadily dimin-
ished by the losses that are incident to
everything which is in constant use,
money being no exception, as we'll as the
transportation of gold money to foreign
countries, and the locking up of that
metal and greenbacks in the banks and
treasury as reserves"
These are the plain, palpable causes of
the distressed condition of the people and
business at the present time. There can
be no other reasons assigned. To call it
'lack of confidence as the money
cornering and usury class through their
subsidized press, attempt to do, is an in
suit to intelligence and common sense.
THE CURE.
The only cure for the distress among
the masses of the people and the paralysis
of business which the country is suffering
is a reversal of the causes which create it
the reconciliation of silver-opening
of the minis to free coinage, and the sub
stitution of government banks for the So
called national banks, which are not
national at all, but private, corporation
banks; the calling in all of the present
issues of paper money and issuing of
national money which shall be full
legal tender, the same as gold and silver,
the greenback improved with the rascally
except" clause taken out. With such
financial system, system of money under
the control of the people, as the post
Office is, and taken from control of pro-
fessional bankers, hedged about with
exclusive franchise privileges granted by
the government, the distress and poverty
that are crushing the people would vanish
as the mists of the morning, and the snn-
shine of prosperity would again shed its
genial rays over the land. Not till these
reforms are established will the people of
this nation enjoy permanent prosperity,
a prosperity that cannot be wrecked by
scheming gang of Jew and gentle usurers
and bunco steerers.
The Harvey-HOrr debate on
"COins Financial SCHOOL, or free
silver ends i'm Harvey fairly WiDinp