The Grenada sentinel., 1899-03-11
THE MONEY TRADE.
OveRAOwlng Coolers OF Capitalists
De Not Indicate 0fneraI
Prosperity.

ovsrAowing Ceaers Of Capitalists
Do Not Indicate 0fAeral
Prosperity.
What puzzles the so-called experts OF
finance is how to account for the pie
thora" of money. Money is so abundant
In the great metropolitan centers. New
York, and in other large cities also, that
the banks cannot get rid of 1t. AL
though their loans never were greater
if so large, still the rates of interest
are lower than ever known, lower even
than in London, and London has bor-
rowed several millions in New York
and Chicago to prevent their losing
their dear and most beloved gold.
American capitalists are even consider
ing the policy of initiating the English
and seeking investments abroad. These
''inanciers" are predicting that I'VE"
will soon be creditor nation like
England. Their aspirations and ambi-
tion, it is noticeable always end in the
hope that 1--WE" may be enabled to imi-
tate England, to do - England does.
to be like England. -r.5 .,
If these New York "fnanciers" were
financiers in fact, and understood the
true science Of money, they would get
their eyes off Of Wall street, and Lon
don, and their chambers of commerce,
boards of trade. bourses, ETC., where
gambling is termed business" look
abroad over the land, consider the con-
dition Of the laboring, producing class,
and then they would comprehend, that
although an imemnse volume Of busi-
ness appears to be transacted. there is
little or no profit. They would compre-
hend the reason productive enterprises
are not being extended, new railroads
being built and the kind Of business
that calls for the investment of money.
which looks for its return in increased
wealth and profitable prices.
The business that is moving at pres
ent in the great center is, outside the
movement Of wheat, speculative, spe-
cies of gambling which adds nothing to
the wealth of the country. All wealth
creating enterprises are stagnant.
Prices remain below the cost of produc-
ton, hence the plethora" of money
which isapparentto the eyes Of the class
of financiers and business men of the
Wall street brand.
This class is engaged entirely in the
money trade. They add no wealth to
the country. and have made money so
abundant in tha "centers of business"
that they do not know how to dispose
Of it in order to add to their piethoric
stores, by making it scarce to every
body engaged in industrial pursuits.
Their harvests have all been money har-
vests and their graneries are bursting
with the products of their skill.
During the civil war the government
issued money sufficient to set all the
idle hands to work. Railroads and cities
were built. farms opened in the mighty
west, factories were established on
every hand. mines opened, and vol
ume OF industry created, which en-
ployed all the money issued by the gov
ernment to conduct it, and exchange
the steadily swelling volume of wealth.
The wealth creators, estimating their
ability to make profit based on the
prices received for the products of their
industry. risked borrowing money and
placing obligations on the property
they had acquired, never dreaming of
the conspiracy which had been import
ed from Europe to plunder industry of
all the accumulated wealth of the years
when government had furnished
supply of money to reward their ener-
gies by liberal prices for the products
of their toll. The war was hardly end
ed when the conspirators commenced
preparations to destroy the money and
reduce the quantity. in circulation,
when more money was demanded to
supply the vast volume of new business
that had grown under the era Of suf-
ficient volume of money, and also to
supply the needs of 12,OO0,00o of people
in the southern states who came out of
the war penniless.
As the circulating medium COM
menced to contract, while demand for
more money commenced to rapidly in
crease, prices began to fall. The honest
toilers, not aware of the conspiracy
carefully planned to rob them, looked
upon the drop in prices as q temporary
occurrence incident to the natural
fluctuations OF business, that would
soon pass, and prices again assume
their normal condition, and didn't hesi-
tate to add more debt to that which al
ready rested on their property, know
ing that if business continued as IN the
past, they could Pay out. But prices
continued to fail, interest required
muca larger amounts ofproluce to pay
than formerly, when The debt was Gre
ated. Being thus caught in the tolls of
debts, the temptation born of neces-
sity, lured thousands on to 60 still deep
er in, till finally a crushing load rested
on their homes and property. This was
the condition of the entire western
country, and as prices tended steadily
to lower level, the eastern portion of