Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1897-10-28
MoNEv LENDING LONDON.
Alar.. e Enell.l - . 80

Alarm OF EmG1fnh Bankers a9 Pre-
Dect ~ nimetnIHfam-
Money-lending London is seriously
alarmed at the prospect OF bimetalIisn-
OF this there is no question. The fears
of those who profit from dear money,
who cling to the gold standard because
It enables them to rob their debtors,
fears that silver win be remonetized
and this power to 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 or
bimetallists In England and on the
continent of Europe.
All money-lending London is not gold
monometallic, but the greater part is.
1t was money-lending London that ca
ioled the debtor nations of the world
into abandoning bimetallism and
throwing themselves into hopeless
financial bondage to the creditor classes
of Great Britain, and having accom-
plished this, money-lending London
does not care to see severed those bonds
of financial dependence. Cupidity
draws on the money lenders of London
to oppose the restoration of bimetallism.
to oppose the undoing of the dear money
system that they have yoked to the
debtor nations of the world. The clos
ing of the mints of the western world
to free silver coinage and 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 covenanted
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 Dor
rowed. And since 1873 gold has been
doubled In value and prices cut in half,
40 that the creditor can exact on loans
made prior to 1873 twice the value
loaned; that is, If he can exact twice the
the value If such piling on of burdens
has not bankrupted the debtor.
So it Is that money-lending London
has grown in wealth and power with the
closing of the minis of the western
world to silver and the appreciation OF
gold. And at 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 debtors, take alarm. Thua
It is that most of them are gold mono
metallists, for they have profted from
dear money, and they cling to that
which has enriched them by enabling
| them to subtly prey upon mankind, to
| exact from their debtors more than is
| due. But it is not so with all of them
for many have learned that cupidity
carried too far defeats its own ends
that when with misery greed gold 10
driven ever upwards and property
down, the point must inevitably be
reached when the creditor will find
| himself transformed into property
owner. And as soon as he who started
as creditor finds himself a property
owner his interest lies not in further
enhancing gold and depreciating prop
erty, but in cheapening gold and enhanc-
| ing the value of property. So all money.
lending London is not monometaliic;
a part, that part which has come into
possession Of much property through
| the bankruptcy of debtors and that
part which fears further appreciation
of gold, knowing it means bankruptcy
for their debtors and ownership OF
property for themselves, is bimetallic
Yet it is unquestionable that money
lending London, revealing on the un.
earned profits coming from monetary
system that constrains debtors to pay
more than they honestly owe, is pre-
ponderatingly monometallic.-Amer