Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1897-11-05
MONEY LENDING LONDON.
Alarm, OF English bankers at pros-
pect of DiraetnIlism.


pect of Dfnetniiism.
Money lending London is seriously
| alarmed at the prospect of bimeiallism.
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 will be rcmonriiIed
and this power 10 legally rob taken from
them, find an echo in the London press,
subservient. US Is the metropolitan
press everywhere, to the inony 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-lcnding London is not gold
monomctallic, but the greater part is.
II was tnoncy-lending London that ca
joled the debtor nations of the world
into abandoning bimeta,lism aud
throwing themselves into hopeless
financial bondagc 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. Cupidity
draws on the money lenders of London
toopposc the undoing of the dear money
system that they have yokcd 10 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 greatly increased demand for
gold, made gold dear and prices low,
so that when debtors como to pay their
debts they must give to their creditors
more produce than they coycnantcd
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 he can exact twice the
the value II such pilng on of burdens
has not bankruptcd the debtor.
So it is thnt money-lcndng London
has grown in wealth und power with the
closing of the minis of the western
world TO silver and the upprecia ton 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
10 rob their debtors, take alarm. Thus
II Is that most of them arc gold mono-
metallists, for they have proiitcd 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 fur defeats its own ends.
that when with misery greed gold is
driven ever upwards and property
down, the potLt must inevitably DO
reached when the creditor will find
himself transformed into a property
owner. And as soon az he who started
as creditor finds himself n property
! owner his interest lies not in further
enhancing gold and dcpreciating prop
erty, butt cheapening gold and cnhanc-
ing the rnl'c OF property. SO all money
lending London is not monomctnllic:
part. that part whi.lI has come into
possession OF much property through
the bankruptcy OF debtors and that
| part which f.n=s further appreciation
/ OF gold, knowing i, n.g;Lns bankruptcy
Tor their debtom, ana ownership OF
| property for thom&vlvcs. is bimctallic.
Yet it is unQucational!c that money
lending I.ondcn, revealing on the un
earned profits coming from monetary
System that cons,rains debtors to pay
more than t@ey honestly owa, is pre-
pondcratingly monomctallic.--Ame
49,.