The midland journal. (Rising Sun, Md.) 1885-1947, 1900-09-21
Bank credit-How the People Are
Robbed by Tits Deadly rienace.

IueoS dCpootAS aNCtaSC OhtJ aOout TN PSI,
tent of this large sun, or one dollar of
cash to meet nine dollars OF credit.
This credit system congests money in
the great centers of population and robs
The outlying country remote from such
ceuters of population, commerce and
speculation, gambling. Boston, Chicago,
New York, etc. Reliable data taking the
amount of money in circulation which
the Comptroller Of the Treasury estimates
to be in circulation (which doubtless is
many millions too high the per capita in
the State of New York is SS7, while the
amount in Mississippi is placed as low as
f., Arkansas s., South Dakota IS and
other Southern and Western States are
similarly supplied. This unequal distri-
button of money must always exist so
long as the people submit to the present,
or similar financial laws. which the bank
ers and money exploiters call the gold
standard.
How many have stopped from their
daily round Of toll, struggling to keep the
wolf from the door, to consider what nine
dollars of credit with one dollar of money
in business means to them? 1t means
that those nine credit dollars are every
one drawing interest from the producers
of wealth. Ifthey draw 6 per cent sinter-
est, the producers of wealth who have to
use this borrowed money, pay to the
leisure class, the lenders, the bankers,
debt holders, the money class, 81 cents
annually in interest on every dollar of
actual money in existence. That amount
is transferred from the wealth producers,
the industrial class, to the non-producers,
the leisure Glass;
Why does the great labor class who are
in vast majority TO the non producing
Leisure Glass; submit to the injustice
which they could SO easily remedy :
Simply because they have not given any
thought to the subject, but have suffered
on, considering their condition one of
circumstances, sort of decree of fate, not
remedial. They have been deceived and
misled largely by the subsidized or
monopoly owned press, which has cried
sound money" in the ears of the masses
until the masses have become bewildered.
There is no financial condition more
unsound than that which now exists in
this country, where one dollar in tangible
money has to carry nine dollars of credit,
or debt money, drawing interest every
day in the year. The cry of "sound
money! is but variation of the cry of
" stop thief" by the rogue who has stolen
the purse.
Consider for moment how this credit
system centers and congests the money in
the great commercial cities and localities
of the country. They are the loaning
points and the interest on those credit
loans flows to those centers. The con-
tracted currency and expanded credit.
while the latter tends to promote for q
season activity in business, the former
tends to lower prices, which eventually
checks business in remoter parts Of the
country first. That throws the money
into the local banks, and the local banks
send the cash to the money loaning
centers, where it is largely employed in
specializing in stocks, grain and other
products.
This sound money" and gold standard
6nancialDsystem which has ripened up SO
rapidly under the fostering care of the
present administrations, has enabled Car
magic and Rockerfeller TO put forty mil
lions each into his pocket in the last year,
and the great moneyed men end banks of
New York to subscribe for $2S, ooo, 900 Of
the English government loan to aid that
pluuderer of weaker peoples to rob and
reduce the Beers TO slavery.
Why should the industrial class of this
country, who create all of this wealth and
enjoy but little 1T, submit to such an
unequal, unfair distribution? They GER
tainly would mot if they fairly under
stood it.
The country is now approaching a
death struggle with its new enemy of I'm
perialisni, which threatens, after the
policy of England. TO convert the Repnb-
lie into an Empire. This condition Is
only the ripening fruit of the so-called
sound money and gold standard system
explained above. This revolutionized
republican system to an Empire requires
large standing army TO protect the ex-
ploiters. who fasten themselves like YAM
'pires on foreign people to suck away their
substance. An aristocracy Of wealth is
built up with its yokefellow, military
aristocraey, to protect it at home and
abroad.
This nation is rapidly approaching that
period in the history of Rome when
Caesar crossed the Ruhicon.
The election Of Bryan will give the
monarchical system TO which we are
Fastening a rude check, but only check,
The great work Of Graduating it must
follow. The motto of Cato must be
adopted. The old Senator closed his
speeches with ominous warning Deien-
da est Carthage. We should apply the
old Roman patriots sentiment to our
time and our impending danger and
greatest enemy. The gold standard bank
trust system must he destroyed. 1t is the
fat, poisoned soil out of which the un-
healthy s1stenis snrincr aud aon=lsa.