Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1896-09-25
way PROSPERITY HALrs.
What q, Costs the People TO MsIutaio
the GOld standard.

/
displacing hope. The wealth OF the
world Is drifting under the control Of
the few. Department stores are ruin
ing the small shop keepers. Syndi-
Gates manipulate our Industries. The
independent faruher has become hope
less toiler. The day laborcr sees noth-
ing ahead but hand-to-h0nd strug-
gle for eNistence.
Something is wrong.
The days are just ms long, the soil Is
just AS productive, the sun shines jus,
as brightly and the rains are just ns re-
frcshing. Our housewives are far more
economical and the opportunities for
beitering our condition should not be
fewer.
Stin. prices ore falling. Real estate
Is poor Investment. Business enter
priscs far nore of receiverships than
profits. Mortgages are being fore
closed md deficiency judgments en-
tered. The courts are busy running
bankrupt railroads at the Instance of
hondhDlders. Money NJ interest at
three per cent. is more profitable than
i'm employing labor i'm industrial en-
terprises. The nation Is a constant bor-
rover. and, although taxes are an cx-
cessive burden from the national gov.
crnmcnt down TO our Municipalities,
the public revenue IL insufficient.
This sort of thing has been going on
for more than 20 years.
Unless things change there Is no Ger.
tainty for the future but universal
bankruptcy.
The excuse given for the dcplornble
state OF affairs by those who advocate
the gold standard Is that there has been
overproduction. In other words, we
have been made poor 10y reason Of hav-
ing too much wealth People are starv-
ing because they have too much 10 ent.
Railroads are going into bankruptcy
because there are too large crops TO
move. Men are I'm rags because the
sheep hare produced too much wool
The conditions that exist are these:
All men would like to have on hand
plenty of four. From the gold mems
statistics the supply OF wheat seems TO
De adequate. The men who own the
wheat would like To exchange II for
money. but the people who need the
wheat have no money 10 give In eN-
change. Real estate hns fallen la ,ulue
until no one can readily tell what II IL
worth. There are numhcrlrss people
who would like Ia own homes, and
there are plenty OF people who would
like To sell land. Iiut the people who
want homes cannot raise the money Go
exchange for the land. and the result H.
very unsatisfactory 10 both parties.
There are hundreds Of thousands OF in
duStPiOuS men and women who would
like tO make an exchange OF their labor
for money, Ia order 10 exchange the
money thus received for things which
ihcy> really need. but the owncrs Of
money cannot find profihble invest
mcntS upon falling market and hence
hoard IL In banks ar lo0n II nt Interest
and the wording men and the working
women go without employment. Horses
are ridiculously cheap, aud many people
would prefer riding to walking. The
men who own the horses need money
and would like TO sell. but the mass OF
The people keep on tramping. for some
could not afford horse cvea 81 he
could bc purchased for two bits.
We have. then. plenty of labor which
is seeking market. We have manifold
opportunities awaiting the touch OF
money TO spring into benc6ccnt life.
We have an amply supply Of the necessi-
ties OF life, and yet. with bursting
granarics. there are needed more pau
ger houses. With ample wealth on every
hand there IL % demand for more police
men 10 club down crime born of squalor
and misery.
On the other hand. gigantic fortunes
have been accumulated in the hands of
a few people. While hundreds of thou
sands suffer. a. is possible for Whitney.
through the magic Of his wealth. to
transform 1000 acres Of wild land into
q pleasure garden for his children In
less than 20 days. Impecunious lords Of
the old world have no difficulty Ia e<-
changing their titles for the da ug
of our miilionaires. while many honest
worlSingmen cannot sell their labor n I
any price. The beneficiaries OF this
vicious condition insist that IL shall
continue Upon the false plea OF honest
money" The peculiar advantages which
they secure may be the real reason why
they dcnounce their suffering fellow
countrymen as anarchists" and vio-
lently rail because cry Of distress
sometimes rings above the chnk of
| shNBf Eblus AS OAntI ItOptc SuIltT lUNy
gain. The distress ofthe government is
their source OF profit. Take. Rs an Illus
tration. the story of the great bond syn
dicate. as told by gold paper Of New
York city on February 81. sos. The re-
suit Of The fgures produced Is astound-
ing. This Is how the account stands
between the government. the Feprescn-
fativcs Of the people and the syndicate:
Face OF loan. .SG2 SIS mo
syndicate premium at l04. s9........ 2.797. .9is
United States gets. 6J.11s SI3
Syndicate profit TO il25O.......,... Asa. .esf
| What inside jobbers pay.......... 69.icShS7
Inside iobbers' profit 10 l1s........ 2.5S3,Il3
The public pay and the United
States should have received. .... 1881 zoo
United States lost.................. S41S7 757
PROFIT AND LOSS.
Rsinsont & Morgan buy $G2sl5.o0o
at lol.49: $6s. IL. .94s
at II2 I22s........... ................ ea.s4S 5s7
Belmont & Morgan profit ....... 1856 6I4
INSIDE Jobbers buy s62,Si5,oO0 at
Inside tobbers sell see 900 at lis. Ss.5sf zoo
Inside johbers' proht............... 3-S2 I13
General public buy $62. .3l5. .0O0 at lis 1881 700
Loss by United States TO jobbers.. S.4lS 737
And ;his is but drop in the bucket of
what il is costing the people to maintain