The Caucasian. (Clinton, N.C.) 188?-1913, 1896-05-28
HOW THE ;olO
STANDARD WORKS
THE Wilks 6TOh STAR DEM PRE-
seNTS SOME CLEAN, CLEAR FACTS
WORTH STUDYING.

The Plans aud Schemes Of the Gold Com
bins-The Folly OF Trying to Pay Exist
Ing Debts with Goid-How the Money
Power Makes Its Po~rr Felt.
The public debts of the leading
European nations, that is Russia,
Germany, Frances England, Italy,
Austria-Hungary, Spain and Dem
mark, aggregate $24 200. 900 900, an
increase of 81 ,OO0, ,OOO, 900 in the past
ten years. These debts with the in
terest are all payable in gold. They
were not always payable in gold
only. for until the decentralization Of
silver they were payable in coin, as
our national debt was until the gold
manipulators got a ruling in their
favor and made it payable in gold.
Twenty-four thousand millions Of
dollars in goldis about eight times as
much as there is coined in the world.
These debts are payable sometime;
the interest must be paid annually
unless the nations default. If the
interest be paid annually at 3 per
cent, it would take 1920, 200, 900, or
nearly one-fourth of all the coined
gold In the world to pay it.
Is it a wonder that gold is in de-
mand and that the gold nations Of
the earth are constantly boarding it'll
Is 1t a wonder that there is little
or no gold in circulation when the
nations are thus boarding it,
Is it a wonder that the gold mani
pulators to whom this interest is paid
and to whom the principal must
some day be paid, if it is ever paid,
insist upon sticking to the gold
standard which thus enriches them
and puts the money of the world
practically in their control.
These debts are due to probably
less than a hundred people, and
these people have such a thorough
understanding with each other, and
such facilities for combination, that
they always move in concert and
when their mutual interests are in
volved work together and carry
their point. They have their repre-
sentatives in government circles and
in legislative bodies just as Govern
ment creditors in this country have.
They know how to make the power
of their money felt and do it.
Is there any sane man in the world
who believes that these 1924 ,O0O, ,0OO,-
600 will ever be paidq or that the
| Governments which owe them can
raise the gold to pay them7 Where
are they going to get it'll 1t must
come either from taxation or by bor-
rowing and that means taxation
later, and an increase of the indebt-
edness. Some people think "a ma
tional debt a national blessing" It
is one of these "blessings" that keeps
on growing without cultivating.
They are very hard things to get rid
of even when there is desire and an
effort to get rid of them. AS an H.
lustration this country, which now
has the reputation of being the
wealthiest country in the world, has
been more than generation in pay
ing half of its national debt, and the
remainder instead of decreasing is
increasing because of the folly of ad-
herring to the gold standard. By
adopting the gold standard this debt
was more than doubled, and the babe
Is not born that will live to see it
paid off if the gold standard be ad-
hered to.
These $4,000, 100000 represent
only the national debts of less than
a dozen nations. 1t makes no ac-
count of the municipal. corporate or
individual Indebtedness, all of which
must also be paid in gold, nearly all
of which is locked up in Government
and other vaults, where it is held to
meet emergencies, or for specula-
tive purposes, absolutely controlled
by q comparative handful of men,
who dictate substantially, the gold
standard to the world. They are the
worlds money lenders, for under
their selfish, grasping, cold-blooded
dictation gold is the only thing they
recognize as money, and they to
some extent force their gold stand
ard on the silver-using nations. If
Japan, for instance, or Mexico
wants to borrow money from them
they lend gold and insist on pay
ment of principal and interest in
gold, and when interest or principal
becomes due these sllver-using ma
tions must take their silver and buy
the gold to meet the obligation.
These money lenders control the
gold supplies of the world; the
Rothschild family and connections
can co1trol about thirds of it.
and the gold must be bought from
them to pay the debts due to them,
and having a monopoly of the gold
they can make their own terms and
put their own price on it, and thew
do it.
We had an illustration of that in
our own bond sales to raise gold to
meet the Government obligations
which in law are not payable in gold
but which from stupid OF criminal
construction of the law are paid in
gold. The Spectators who took the
last issue of bonds made clean $1O,.
900 900 by the operation. And thu,
it goes. The debt instead of dimin.
ishing is increasing, and yet We have
men bowling over the country fo1
the maintenance of the life-sapping
) plunderlng gold standard.
, And so are the debts of European
nations increasing. They have in
creased twenty per cent. in ter
wears, and still the nations promise
to pay in gold, which is sheer i'm
possibility, and they know it wher
they make the promises. They know
they can't get the gold, for 1t ISM
in the world to be gotten and ther,
is no probability that it ever will be
: 1t is an unmitigated fraud for thos,
nations to be promising to do wha
: they know they cannot do. To keel
up the gold standard is simply tn
voluntary perpetuation of this un
o mitigated fraud.
e Hon. Walter r. Henry at Statewide.
For The Caucasian.I
n Al M