Middlebury register. (Middlebury, Vt.) 1886-1937, 1896-02-14

alton. II we suppose the entire currency to
.be in the hands of one portion of the com
munity, and the property in the hands of
another portion, the former, by having the
currency in their possession, might control the
value Of all the property in their community
and possess themselves Of it at their pleasure
Take the case already selected, and suppose
that those who hold the currency, diminish it
one-half by abstracting it from circulation, the
effect Of which would be to reduce the circu-
lation to 100000; the value of property
would also be reduced one-half-that is,
SI5,oooooo. Let the process be reversed and
the money distracted be gradually restored
10 circulation, and the value of property
would again be increased to S3o,ooo,ooo 1t
mnst be obvious that by alternating these pro-
cessess and purchasing at the point of the
greatest depression when the circulation is the
least, and selling at the point of the greatest
elevation, when it is the fullest, the supposed
moneyed class, who could at pleasure increase
or diminish the circulation by abstracting or
restoring it, might also at pleasure control the
entire property of the country.
at results from this that there is danger
GUS antagou,stic relation between those who
hold or command the currency and the rest of
the community; but fortunately for the
country, the holders of property and of the
currency are SO blended as not to constitute
separate classes. Yet, it is worthy of remark
it deserves strongly to attract the attention
OF those who have charge of the public affairs
that under the operation Of the bank
ing system, and that particular distribution
OF property existing in the shape of credit
or stocks public or private, which SO striking
ly distinguishes modern society from all that
IL IA
create seperatc moneyed interest, accom-
panied with all the dangers which must neces-
sarily result from such separation, which de-
serves to be most carefully watched and resist
ed"
And Abraham Lincoln also said
"If government contracts debt with a
certain amount of money in circulation and
then contracts the money volume before the
debt is paid, it is the moa heNioAs crime a
government could commit against the people
But those that demonetilcd silver in 1873
disorganized the money standard in the gross
est possible way, running millions of their fell
low countrymen and helping to create a scar
city Of money, which is the cause OF the pres
ent great depression in prices.
A change must come and ought to
come this year If the Republican party
would offer it, that would be the happiest way
for it to come Failing OF this, if the Dem
ocratic convention should offer it the country
might rally to such offer. II neither does it,.
then it is certain that the new party will APP
pear ON the 22d of July at II. Louis, with a
straight ticket tur the nations freedom; and,
inthc mcantmc,the duty Of the hour is the form
alton OF financial or bimetallic clubs. All can
Join in these, whatever their present politics, who
are determined that the present low prices Of
property products and labor shall stop and
that the Infamous robbery Of the nation now
going on in the borrowing OF gold to pay
debts that were expressly made payable in
silver Of which the nation has or can have
plenty on hand without borrowing a cent
shall cease
The people should not forget that the
amount OF this unnecessary borrowing to
date Is S2o2. 100000, running about 90
years. and that it will amount with accruing
The people should remember, too. that while
this gold is being borrowed the government
has SI7o,oOo,ooo on hand, besides the silver;
all lawful money and mostly grecnbacks that
1t thus withdraws from circulation. badly as
the people need it; and that the only rea-
son for borrowing gold is that Mr. Cleveland
promised the money changers who furnished
the money to elect him, said to have been
100000, that he would do it. The people
must alsoremembcr that MIR. Harrison promised
the same thing and was preparing to borrow
gold when he went out OF office. Both old
parties are under the control OF the money
power, for both have depended upon this
power to run their campaigns The vast
s,ealings that this power get, from the people,
robbing every man, woman and child through
its manipulation OF the nations finances, is its
motive Tor furnishing the money.
TO b. Concia1cd