Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1897-11-05
MONEY LENDING LONDON.
Alarm OF English Danker< at rsox
pect of Bfsaetafi.su,


pect of DisaetaIiism.
Money-lerding London is seriously
alarmed at the prospect of bimeiallsm.
OF this there is no question. The fears
Of those who profit from dear money.
who cling TO the gold standard because
IL enables them to rob their debtors.
fears that silver will be rcmouriiled
and this power 10 legally rob taken from
them. find an echo in the London press.
subservient, as is the metropolitan
press everywhere, to the mony power.
And as the alarm of the money lenders
of London grows so do the hopes of
bimetallists in England and on the
continent of Europe.
All money-lending London is not gold
monomctallic, but the greater part is.
1t was moncy-lending London that ca
Joied tho debtor nations of the world
into abandoning bimetallism aud
throwing themselves into hopeless
hnaucial bondage To the creditor classes
OF Great britain, aud having accom-
plished this. moncy-lenGing London
does not care to see severed those bonds
of financial dependence. Cupdity
draws on the money lenders OF London
tooppose the undoing of the dear money
system that they have yokcd TO the
debtor nations of the world. The clos
Ing of the mints of the western world
TO free silver coinage aud the tying
down of the western nations to the coin
age of gold for their supply of money
made greatly increased demand for
gold, made gold dear and prices low,
SO that when debtors come to pay their
debts they must give to their creditors
more produce than they coyenantcd
TO pay or, what is the same thing. pay
In gold that will buy more of the prod
ucts OF mems labor than the gold bor-
rowed- And since 1873 gold has been
doubled in value and prices cut in half.
so that the creditor can exact on loans
made prior to 1873 twice the value
loaned; that is, If nc can exact twice the
the value II such piling on of burdens
has not bankrupted the debtor
SO 1t il that money-lending London
has grown in wealth und power with the
closing of the minis of the western
world 10 silver and the appreciation of
gold. And ut the prospect of losing
this power TO exact tribute from the
rest OF the world, the money lenders of
London, clinging to this power. TO the
monetary system that has enabled them
TO rob their IC;:.ors, take alarm. Thus
IL Is that most of them arc gold mono-
lnetallsts, for they have profitcd from
dear money, and they cling TO that
which has enriched them by enabling
them TO suotly prey upon mankind, to
exact from their debtors more than il
due. But ii is not so with all OF them.
for many have learned that cupidity
carried too fur defeats It's own ends.
that when with misery greed gold is
driven ever upwards and property
down, the poirt mast inevitably DO
reached when the creditor will find
himself transformed into a property
owner. And as soon az he who started
as creditor nnds himself n property
owner his interest lies not in further
enhancing gold and dcpreciatiny prop
erty, butin cheapening gold and cnhanc-
ing the va!sc OF property. So all money
lending London is not monometallic:
part. that part v'hi n has come into
possession OF much property through
the bankruptcy OF debtors and that
part which f.azs further appreciation
of gold, knowing il means bankruptcy
Tor their debtoM' aud ownership OF
property for Themselves. is bimctallic.
Yet ii is unqucaiionah!c that money
lending London. revealing on the un
earned profits coming from n monetary
system that corS!raiEs debtors to pay
more than t%ey honestly owa. is pre-
pondcratingly ic.-Amer-
49,.