The representative. [volume] (St. Paul, Minn.) 1893-1901, 1899-03-08

are not abused. or held responsible, pref
udice can be held in check, while unself-
ish wisdom eradicates this error from
civilization
lell me. | said, what the philosophy
OF 1t is? Why is money lending a dan
ger to civilization?
here are two things to understand
SAID he, and when you understand those
you comprehend the whole question. A
money lender reduces his risk to a mini
mum. 1t IS the borrower who takes
chances against fire, drouths, failure OF
crops and other misfortunes: and in the
end the results are that the average
prohts from money lending are in excess
OF all other business. In time the money
; dung class becomes the wealthy and
HiO;.; IT class-without having produced
OF al s. hing to eat, drink or wear.
The seq oci, ~;tion to comprehend is
that when IL, y = .ccumulates in the
hands of the usure., as it inevitably will
when the people are debt-rdden it re-
mains there boarded. as they are not in
vestors. The effect is to paralyze civil
1zatlon-for money is the blood of civil
ization. Prices OF all useful things fall
those things in the sale OF which the peo-
pie depend wherewith to pay their debts
And why. | asked, does the money
boarded in the hands OF the money lend
ers make prices fall?
Price he replied, is made by the
relative quantity OF property in the mar
ket in search OF money, and the quantity
OF money in the market in search OF
property The money in the hands of
money lenders is not money in search OF
property, it is in search of a borrower,
and until a borrower gets it, is not in
search OF property. In the last hundred
years, since money lending has again be-
come universally sanctioned. it has grad
ually accumulated in rolling SNOWFALL
IN the hands of our modern uSurers till
they now practically own all OF it. In
stead OF its flowing in healthy circula-
ton, whereby people could get it in ex-
change Tor their property our people have
had to go to usurerS to get 1t In the way
OF loan. to be returned with an increase
greater than they can earn by using the
money in legitimate business. The re-
suit IS that all Our towns and cities and
most OF our people are mOrtgaged to the
money lenders, till those who would Dor
row have not the security wherewith to
get it. Hence, when you compute the
money in circulation, that goes to affect
prices, you must deduct the money in the
hands OF the usurers--I use the word in
its ancient sense There are thousands
OF persons in this city who want to sell
real estate: there is an abnormal quantity
OF real estate in the market in search of
money, but there is very little money in
the market in search OF real estate. Why?
Because most OF the money is to lend,
and not to invest in anything And I'M
der stagnant conditions usury has pro-
I11ra fInra
anyone to borrow money to invest in real
estate, or scarcely anything else. The
continual practice OF usury will cause the
SNOWFALL to get bigger till more and
more money is taken out of the channels
of trade-and prices will continue to
fall
Are you sure OF your position? |
asked.
1T is an AXIOM he said. 1t crucifed
the human race four thousand years ago
and the writers OF the old Bible pro-
claim against it, The money lenders OF
England and their agents in this coun-
try, and our own money lenders uncOn-
sCiously aiding them, are thus engaged in
enslaving the people of the United
States Again two thousand years ago
it destroyed civilization, leaving such an
impression on the minds Of the people
that for seventeen hundred years after
wards a money lender was looked upon
as criminal
But, | said, has not one as much right
to hire out his money, as his farm or his
horse?
1t looks so, he said. but the effect is
different. When all the farms are rented
there are no more farms to rent The
practice stops here. When all the horses
are hired out, there are no more horses
to hire But when all the money is hired
out and bringing in an income to its
owners. the practice does not stop there.
There is about $I,7oo,ooo 900 OF money,
all told, in the United States. But there
is thirty to forty billion drawing interest,
till the annual income from it is more
than the ST 700, DOC. 900 OF money in exist
ence. There is no such thing as farms
or horses being loaned out till the an
nual income is as great as the value OF
all farms and horses in existence
us it possible, remarked that the
people have walked into such deep trap
for the third time in the history OF the
world?
They have he replied.
And will it end in such devastation
and misery as it did each time before?
No, not if they are charitable and abb
stain from abusing each other 1t will be
eradicated from civilization before people
are again driven into hopeless poverty,
ignorance and another dark age -
Southern Mercury