The midland journal. (Rising Sun, Md.) 1885-1947, 1897-10-29
Low Prices.

common sense unless he has it. This
may account for the numerous poor labor
ing men-farmers, mechanics and soforth,
joining with the British goldbugs in cry
ing down silver. The United States is
the greatest silver producing country in
the world, and every country in Europe
and Asia has to buy silver to make the
money they use in retail trade and wages
Gold is not used in the retail trade and for
wage paying in this or any other country,
only silver and paper of small denomina-
tions. 1t is the advantage of all other
countries to buy American silver as low as
possible to make their business and trade
money of, and to the corresponding dis
advantage and injury of the United States
to supply the silver at these reduced
prices When the farmers wheat dropped
down to fifty cents, not only the farmers
but the business and people of the whole
country we're injured by the fall. And so
it has been by the foreign goldbug bear
operation OH silver.
Now the Republican party is in favor of
this policy Of low prices the rank
and file, the working, middle classes of
the party, they are opposed to it-but the
bankers, the spectators in property and
money, the syndcates, trusts and monop
olies. They stand at the head and have
the party machinery in their hands. And
when the party is i'll power, this class
rules the nation and is virtually the
government.
The people know as we'll as they know
anything providing they have common
sense to use as Greedy said-that they are
being made poorer every year by this
policy of low prices, and the policy of low
prices is the policy oft the Republicanparty.
How can they compromise with their
own interests and their common sense i'll
supporting party whose basic principle
is low prices for property and dear priced
money? Sound money" is the new
name invented by the goldbug class for
gold. There is something new and
catchy i'll the sound expected to tickle the
popular ear. Gold money is The dearest
money i'll the world, and is more than Ioo
per cent higher priced than it was twenty
years ago Gold will buy twice as much
property as it would then. The New
York bankers have been running short of
gold and have been buying American
gold eagles from the Bank of England
and the gold brokers of London, in the
last few weeks and paying four cents an
ounce premium for them, which is about
II per cent premium, and more than that
when transportation expenses are added.
In plain English they are buying back
the gold eagles of the United States which
Cleveland gave to the British goldbugs
through their New York agents, at par
from the subtreasury Of the United States.
The Jew bankers of New York, agents of
the English Rothschilds, collected green
backs and presented them at the sub
treasury, demanding gold in exchange,
and it was handed out to them. No other
nation in the world does such thing,
| anu luC CIlllSNl oldtSS NOultl HOl GO IL II
traitors were not at the head of the gov
eminent. There is no law compelling
such action on the part Of the Secretary
of the Treasury, and yet Harrison's Sec
rotary, Cleveland's Secretary and McKin-
ley's Secretary ofthe Treasury all practice
this policy.
But why are New York bankers buying
American gold of the English and paying
four cents an ounce premium for it /? Be
cause the foreigners are selling American
securities they hold to pay for the wheat
they buy. They are not paying for our
wheat with gold but by sending back our
debts They are cauceling, or rather
transferring the debts they hold against
this country in the shape ofvarious stocks
and bonds to pay for the wheat and cotton
they must buy. They sell the stocks at
the exchange and the banks are drawn
OH by depositors to pay for the stocks
The money is deposited in the banks and
drawn out again to pay for the grain that
comes from the West.
The New York banks are interested in
these stocks to the extent of millions OH
millions of dollars. They hold them as
collaterals for money borrowed by the
dealers i'll stocks, the bulls ard bears, and
for their own protection must do every
thing i'll their power to keep the bottom
from falling out of the stock market, and
to keep up basis on which to loan they
are compelled to buy or borrow American
gold from the English brokers and banks
at heavy rate of interest in order to save
themselves. The gold that is reported by
the goldbug papers which is being i'm
ported is not to pay for wheat but is
bought by the New York banks to save
themselves. If the banks can hold up
their end till the surplus wheat and cotton
are disposed of things will run along as
they are now moving. If they canuot
there will be a smash in the stock market
Our wheat surplus and so-called high
prices will not put any more money-or
but very little-in circulation, but will
simply cause the money that has con.
gested in the large banks to flow out
among the grain fields and return in pay
ment for merchandise that 20 million Of
people depending on agriculture need
and will exchange the wheat money for.
| Low prices will force the money again
into the banks and out of business, and
business and prices will be i'll their old
chronic condition year heuce.
| We who Studv these oueStiOnS and are