Milford chronicle., 1896-03-27
$25 REWARD
The Present Financial Policy the Ruin
Of the Country.

Of the Country.
Mr.. EDITOR Your editorial. of
last week was clear and forcible
presentation of the financial situation
Of the country. and ! am glad you
have the ability to discern and the
temerity to oppose a monetary pol
icy dictated by the great commercial
centres in their own interest as
against the farmer and laboring man.
The cities want cheap food clothing.
building material, cheap products of
every kind, and high money because
they have it all. 1t is the rich banker
who wants mOno-metallism, seeking
to make money out of money; the
great trader, whose interest it is 10
buy cheap products that he may sell
them in the higher markets Of the
world. Neither of these produce
anything. They want their dollar
to buy as mach of the products of
labor as possible and to this end seek
to make it high at the expense of
every commodity. With this pur-
pose in view they have destroyed
half of the money of the world that
the other half, which they possess,
may be doubled in value, getting for
each dollar twice as much of labor,
represented in products,as ever be-
fore. 1t is the decentralization of sill
yer, the money of the masses, that
has caused the marked depreciation
in property and all values, and until
it is remOnetized there can be no es-
cape for the honest debtors and the
oppressed and struggling tOllers Of
the land.
THE END NOT YET.
Under our present laws gold is the
only money of the country and debts
cannot be paid in anything else if
the creditor so demands. There is
in circulation in this country about
four hundred million dollars Of this
metal, and we have actually in the
Treasury only about one hundred
millions, while the outstanding prom
ises to pay in gold amount to more
than two thousand millions. Ali the
nations of the world are precisely in
the same situation. The national
Indebtedness of the world outside of
State and municipal, is thirty-fve /.
Thousand millions, and the entire
gold coinage of the world is a little
over three thousand millions. This /
policy must ever create a tremen-
dous and increasing demand for |
gold, and as a consequence the metal |
must rise higher and higher, requir-
ing more and more products to OBJ
tain it. The end, then, in deprecia-
tion of land and property is not yet,
for as gold appreciates every com
modify must correspondingly de-
cline. Is this " hat the farmer, the
manufacturer, the artisan wants ?
does any class ofour citizens want
such q result, except the selfish
money class
REPUTATION THE INEVITABLE END.
The annual gold product of the
entire world is less than one hundred
and fifty million dollars, and of this
one hundred millions is used in the
arts. There remains, then, for the
entire coinage of the world only fifty
million dollars. Great Britain has
invested in the United States five
thousand millions of dollars Her
annual interest at 3 per cent is two
hundred millions. The United
States, then, must have four times
the entire annual coinage of the
world to pay England her interest
each year, and these debts were ere
ated payable in lawful money, iohen
paper and siLver and gold lOere legal
lender The only possible way to
keep up this interest is to sell bonds
TO England and then return the gold
so obtained to the purchasers of the
bonds, gong further and further in
1ebt and making our eAtricatiOn
more and more difficult. it is thus
hat England receives tribute from
Ill the world dominating the nations,
iOrcing upon them a monetary pol
cy favorable to herself but ruinou@
% her debtors. Under such a pol
Cv with all our products going lower
md lower, there is nothing to Rnlic- !
pate in our country's future but re-
ludiation and ruin. As we cannot
obtain gold to pay our interest with
,ur creating greater debt, how can
We hope TO liquidate the principal 7
This policy that is soruinOus for our I
country is the one that the rich OF '
he great cities everywhere advocate, G
BECAUSE they share in the tribute, I
themselves at the expense I
# the people, their dollars becom-
ng more and more valuable and il
more difficult for the poor to obtain. /
HE PREDoNINATING sELFIsHNEss OF y
THE GOLD MEN G
) no where more clearly manifest T.
han in the monetary Legislation sue a
eeding the war The National debt c
reated by the Rebellion amounted u
D nearly three Thousand million dol q
IRIS, and when the people were In dis e
ress as to its liquidation the patri- s
tic rich men as they call themselves, q
the country, taking advantage Of Z
ur necessities, bought the bonds at V
fly cents on the dollar. They we're r
I payable in currency, including ?
aper silver, and gold. But this did ?
OF profit the bondholders to as great II
D extent as they desired, and they u
bon began intriguing in Congress n
, make the bonds still more profit K
Die. The process eliminated in the al
emonetization Of silver which made y
lie bonds payable in gold. For if D.
en hundred million dollars invested o.
ley thus have, or are to receive three p