The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1897-09-11
SOME STATEMENTS.
How the money is Corncred and how IL
Is Sought to Further Control II, told
by sd. W."-Some Facts about
Borrowing money In
MorgautOwu.

MOrgantOwn.
To the Editor of the New DOMINION:
Do your readers know that there is
the most damnable scheme connecting
to Cypress the farmers and the working
people OF this country that has ever been
attempted. The crime OF rs fades into
insignifcance beside this. This scheme
has been advocated by Cleveland and
Carlisle and is now advocated by Secre-
iary Gage. Some time ago there was a
convention at indianapolis by the So
called business men OF our country; they
claimed that the law governing our mon-
ey was in bad condition and that we
could not have real prosperity until
those laws were changed. They sent a
petition to President Mckinley to that
effect. The President sent message to
congress in accordance with the wishes Of
that convention. The lower house of
congress passed law Cutting off de-
BATE TO give the President. the power to
appoint monetary commission. | am
not advised as to the number composing
this commission but the law says they
are to consist OF republicans and demo-
Gratis. This looks fair enough until we
consider that nearly all the so-called
democrats belong TO the gold wing OF
the party and when Mckinley chooses
the commission he will choose gold
democrats and geld republicans. And
il is already mapped out what this COM
mission will report. Controller Eckols
gave the facts away in recent speech.
lie says " Let the government 60 ont OF
the banking business by Withdrawing ali
paper money. Greenbaeks, Treasury
Notes, Silver Certificates etc. and place
it in the hands OF monied Sndicate
to make al the paper money. Then we
would have an elastic currency: o,
YES Mr. Eckles we understand that
elastic currency. 1t il TO strike a large
amount of paper money loaned to farm
ers and the middle class of people, then
in a year or two call in this money and
AL those who are unable to pay, their
'arms and homes will be sold at about
me third value and the great money
nionopoists will buy their farms and
homes and in short time this country
like England, will be owned by few
individuals If this bill passes in the
U. S. Senate then good by to free Amcri-
ca, because the people will be sold out
t. the money power. startling TACT.
correspondent OF the Post said
some time ago in that paper: you can
borrow money in New York and else
where at and 2 per cent per annum."
A man came to me few days ago and
said he had been at Morgantown for the
purpose OF borrowing some money and
that he could not borrow a dollar at
either bank. / thought there might be
something wrong with the man or his
securities. A short time after l met a
director OF the Second National Bank
and told him what the man said He
replied, There is nothing wrong with
the man or his securities He said
Il can speak for the Second National,
and he supposed the same reasons hold
good for the other banks and that is,
1--WE haven't any money to loan." "Our
money is all loaned out and il we would
attempt to draw in our money under the
present condition and at the price farm
products are bringing, 1t would compel
hundreds OF farmers to sell their farms
at about one-third value and this may
ruin many of our best citizens" Then
let this debtor class thank God that
they have borrowed this money from
home banks owned and controlled by
our own fellow citizens. For il this
money was borrowed from the money
monopolists their farms would be sold
and hundreds of our best people w.,uld
be without homes. A Republican
farmer said to me, 81 believe every
word of that but you can't make the
large majority OF Republican farmers
believe it because they are SO prejudiced
that they will wait until they expert
ence it before they will be convinced. :"
| have believed for some time that our
officials have been deceiving the people
as to the amount Of money in our
country and also as to the amount in
circulation. The officials report as fol-
lows 1925 100000, silver dollars $780,
100000 in gold $4,000 900 subsidiary
coin $1,000, 900, 900, in paper money
Total nearly 81, 300, 900, 900 and'$l $780,
100000 in actual circulation. l have
been trying to get at facts and have par
tally succeeded Here is very inter-
esting table that every reader of the
New DOMINION should preserve. Silver
dollars coined in the United State.