Highland recorder. (Monterey, Highland County, Va.) 1877-1972, 1896-08-21
Our Financial System

ticle on the financial system, and
we advise all our readers to give it
careful considerations.
Forty years ago Macquley, Ill a
letter to an American friend, pre-
dictea chat republican governments
in the United States would in time
froYesa failure, and that that time
would be when hundreds OF thohs-
ands Of artisans would be out Of
work in our Manchesters and Biz
Notwithstanding in our large
manufacturing cities. The New
York Evening Post British }, il a
long editorial, reprOduces portions
Of tbs famous letter, and COM
ments upon It at great length. It
says that "the Republic has thus
far escaped the fate that Macauley
foresaw, and experience has shown
that the perils Of reckless voting
on financial questions are found in
a very different quarter from what
seemed to him a source of danger.
The Post writer finds that "our
present peril is not from the labor
ing population Of great manufac-
turing ct5ies in the Eaot. 1t is from
| tens and hundreds cf thousands Of
scattered farmers in the states West
and South. II is not from the ar
tisans who see the rich man riding
in his carriage before their eyes.
1t is from the agricultural popula-
tion who never get a glimpse Of a
millionaire" lie winds up with q
reference to "the danger that we
confront today Of having our hnan-
cial system overthrown, nos BY arti-
sans Of the cities, but by the wheat
growing and corn growing farmers
Of the prairie,and cotton planters
Of the South
Our financial system" Of rob-
berry is to be overthrown, not only
by the farmers, but by the great
masses Of Che people ia all condi-
tions Of life, except those who are
dependent upon the financial sys-
tenn aforesaid. This financial sys-
tenn aims at abolishing every .ksnd
OF money ia the world except gold
coin and the "shinplasters' Of bank
corporations. Treasury notes are
hateful to the engineers Of this f.
nancial system. Silver is equally
hateful. Nothing is lovely but d
bank note, which would not be q
legal tender, and gold coin, the on
" kind Of money with which debts
would be paid. 1t is great sys-
tenn. There is in the world a little
more than four thousand millions
Of gold. The system consists in
the control by about a hundred
men Of al the worlds supply Of
gold, except that which is in active
nd-to-hand circulation in some
countries. Of course, gold forms
no part of the circulation Of the
United States cast Of the Rocky
mountains. The system is a very
beneficial one to tho ope hundred
men. With it they acquire a large
share OF other peoples property
without any consideration. 1t
ought tobe plain to everyone that
the man whopromised the payment
Of money when he has none, but
only has other kinds OF property, is
at the mercy Of those who have
money inst6a9Aof other kinds Of
Q property. If he does
not pay his debt his property is il
able to be sold to the highest bid
der. TO prevent this he seeks the
money lender, and then, Of course,
those who control the money de-
cide how much property they will
demand in exchange for it, They
have meyer been known to be- mod
est about it. The advocates Of BIZ
metallism believe that il both gold
and silver were used as money, as
they were until little more than
20 years ago in most countries, it
would be impossible for a few men
to control it, and thereby prev up
on the necessities of the people
They believe that the proper use OF
money is to measure values and IA
cilitate the exchange Of commodi-
ties. They do not believe that il
IShould consist Of one single metal
which experience proves can, in the
process Of time, be collected into g
few hands, not for the purpose re-
ferred to, but for the prpose Of ex-
tortion and oppression, through the
creation Of a monopoly IN gold
The great gold syndicate is now il
full possession Of the worlds bust
ness. 1t controls the Governments
Of all the great commercial nations
It looks upon nations as spend
thrifts owning large estates. It is
always ready to deal out it's gold
rin exchange for gold-eating bonds
in whatever amount it believes The
labor Of the people can be made tc
pay the interest upon. 1t is equal
! lv ready TO loan It's oold To all cor