St. Landry clarion. (Opelousas, La.) 1890-1921, 1899-04-08
TEE MONEY RADE.
OrerGowing Golfers OF Capitalists
Do Not Indicate General
Prosperity.

> 4
York, and in other large cities also, that
the banas cannot get rid Of It 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
'sfnanciers" are predicting that we
will soon be q creditor natlon,' like
England. Their aspirations and ambi-
ton, it is noticeable always end IN the
hope that "we'' may be enabled to imi-
tate England, to do as England does,
to be like England.
If these New York afnanciers" were
fnanciers 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. 4
dition of the laboring, producing class,
and then they would comprehend, that
although an innemnse volume Of busl-
ness appears to be transacted. there is
little or no profit. They woIlld 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
erlt in the great centerGs, outside the
movement of wheat, speculative, q spe--e
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 apparentto 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 50
abundant in the s.eenters Of business
that they do not know how to dispose
of it in order to add to their plethoric
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
1 with the products of their skill.
During the civil war the government
/ issued money sufficient to set all the
1 = Tasf n fs34
| 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
/ ernraent to conduct 1t, and exchange
the steadily swelling volume of wealth.
The wealth creators, estimating their
ability to make a profit based on the.
prices received for the products OF their
industry, risked borrowing money and
| placing obligations on the property
thev 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 a
| supply of money to reward their eI1er-
/ gies bv liberal prices for the products
Of their toll. The war was hardly end
ed when the eonspirators 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 ersof a suf-
ficient volume Of money, and also to
supply the needs of Il, ,oo0, 900 Of people
in the southern states who came out OF
the war penniless.
AS the circulating medium COM
menced 10 contract while a demand for
more money commenced to rapidly in
crease, prices began to fall. The honest
toiiers, not aware of the conspiracy
carefully planned to. rob them, looked
upon the drop in prices as a temporary
occurrence incident to the natural
fluctuations of business. that would
soon pass and prices again assume
their normal condition, and didn't hest
tate to add more debt to that which al
y ready rested on their property, know
ing that if business continued as in the
past, they. could pay out. But prices
Z continued to fall, interest required
much larger amounts of produce to pay
than formerly, when fhs debt was ere.
atef. Being thus caught in the tolls OF
debts, the temptation born of neces-
sity. 1ured thousands on to go stilldeep-
er in, till finally crushing load rested
on their homes and property. This was
the condition of the entire western
country, and as prices tended steadily
to a lower level, the eastern portion o.
the country was soon as hope1essiy In
volved as the west. 81.
THE millions Of Industrial people
however. stfll continued their efforts
redoubling their energies to escape
from the taskmaster Of debt, If posi-.
Y bic. but in vaini The great volumes d
wealth they produced were drawn Al
surely and steadily into the hands o
the usurers as dew. And this process
has continued to the present day. and il
steadily going on. The capitalists, al
they delight to call themselves. havt
gathered all of this vast wealth intt
their possession through the alchemy
of debt. The money of the country j:
in their possession, and IS piling up il
the banks, where It lies waiting for Dor
rowers who do not come. The owners
are afraid to risk tin business, vel
knowing that the steady fall in prices
which is still going on. would speedil.
transfer it to the possession Of ths