The midland journal. (Rising Sun, Md.) 1885-1947, 1899-04-14
Gold Standard and Trusts.

The history of any decaying country Of
which history is written proves that a
contracting volume of currency in all
cases concentrated the wealth of the
country in the hands of the few, made
serfs of the masses and finally destroyed
the rich and the poor in universal decay.
This money contraction caused by the
gold standard is driving the people operat-
ing small businesses for self protection
into trusts, to escape impending ruin if
possible, that falling prices every day
threatens them with. But this move
ment of making one concern by uniting
several small establishments of the same
class will not save them 1t will only
postpone the evil day The larger con-
Germs which can command and concen-
trate a greater amount of capital will
destroy the smaller combines in the battle
of the trusts which is now commencing,
individual and copartnership business
having been destroyed by falling prices.
When the few great concentrations Of
capital have vanqushed all competition
+ and reign despots over trade, they will fix
prices and the output of products, fix
wages and reign and rule over the people,
business and government, usurpers of all
wealth and power. The United States is
now launched on this toboggar of nation
al decay, as surely as ever the ancient
empires were. Each of those nations
were many centuries in expiring and as
they neared final collapse the "pros-
perity' and lavish expenditure of the rich
blazed up with dazzling splendor while
the people rotted in poverty. Contrast
conditions in this country at present with
those of forty or fifty years ago and mark
the great change. The gorgeous SPLEEN
dor and extravaganza of the rich, the
increasing numbers of the poor shading
off into the very poor, sinking down in
the stagnant gulf of pauperism.
The cause of national decay in every
instance was what is now termed The
"gold standard" which is systematic con-
traction of the peoples money to one
scarce commodity, which commodity is
gold. When everything used as money
is fixed on gold and required to be re
deemed by an exchange with and for gold
the volume in circulation steadily shrinks
with the increase of population. More Of
the gold is used by the rich for ornaments
which tends to diminish the quantity i'll
use as money.
This is the philosophy of the gold
standard" Contraction of the volume of
money in circulation brings low prices
and debt, both national and personal. In
addition to the pressure OIL industry of
falling prices, debt is drawing interest
and the debt holders are the rich who
hold and control the gold basis of it all
That class not only draws from labor by
interest on the debts the producing and
industrial class are compelled to carry,
and from which they cannot escape OH
account of low prices.
SuldlleI portion Oh tuelf wealth. COIL
mands greater amount of the products
of the toilers, with steady increase i'll
that one direction, constantly widening
the gulf between the rich and the poor.
We have pointed out the cause of the
trusts and the inevitable result of the
trusts if present conditions are permitted
to continue, but our civilization moves
vastly more rapidly than that of the
ancients, and the people will in all human
probability discover the enemy that is
stealing upon them, and rising in theil
might overthrow him by one grand
charge at the ballot box. They surely
will not unresisting. continue TO drift
toward this gold standard maelstrom with
out heroic effort to save humanity ant
civilization from their ancient foe.