Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1897-10-29
MONEY LENDING LONDON.
Alarm OF English BANKERS at Pros
pect of DinetaIIism-

pect of DimetaIIism.
Money-lending London is seriously
alarmed at the prospect of bimetalliSm.
Of this there ID no question. The fears
OF those who profit from dear money,
who cling TO the gold standard beca use
1t enables them TO rob their debtors,
fears that silver will 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 OF
bimetallists In England and on the
continent OF Europe.
All money-lending London is not gold
nonometallic, but the greater part IS.
II was money-lending London that ca
toled 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-
plshed this, money-lending London
does not care to see severed those bonds
OF financial dependence. Cupidity
draws on the money lenders of London
tooppose tho restoration of bimetallism,
tooppose the undOing OF the dear money
system that they have yolIcd 20 the
debtor nations Of the world. The clos
Ing Of the Inints 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 q 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
70 pay or, what Is the samo thing. paw
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,
so that the creditor can exact on loans
made prior to 1873 twice the value
loaned; that Is. nhe can exact twice the
the valuo IL such piling on of burdens
has not b0nkrupted the debtor.
So 1t Is that money-lendinR London
hos grown In wealth and power with the
closing Of the mlnts 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. Thus
IL is that most OF them are gold mono
metallists, for they have profited from
dear money, and they cling TO that
which has enriched them by enabling
them TO subuy prey upon mankind, to
exact from their debtors moro than is
due. But il is not so with all OF them.
for many have learned thnt cupidItv
carried too far defeats It's own ends.
that whom with misery greed gold is
driven ever upwards and property
down, the point must inevitably be
reached when the creditor will find
himself transformed into q property
owner. And rs soon "a he who started
as creditor finds himself n property
owner his interest lies not In further
enhancing gold AMI dcprcciatiug prop
erty, butin cheapening gold and enhanc-
ing the value OF property. SO all money
lending London Is not monometallic;
part, that part which has come into
possession OF much property through
the bankruptcy OF debtors and that
part which fearsa further appreciation
of gold, Knowing IL means bankrfuptcv
for their debtoR5 and ownership of
property for themselves, Is bimetallic.
Yet 1t Is unquestionable that money
lending London, revealing on the un
earned profits coming from n monetary
system that constrains debtors 10 nav
more than they honestly owe, is pre-
ponderatingly ACKNOWLEDGEMENTS
ipnp