Willmar tribune., 1900-08-15

scendingly" accept payment that is
due in ';gold," and you can either
furnish the products at HIS price
or PAY THE "gold"-as named in
the "bond."
But how is the price fixed?
London, Rothschild, Europe, our
creditor, needs food and clothing, and
London says she is willing to pay US
the same price for wheat that she has
to pay in Russia, India and Argen-
tine. So yesterday she cabled for the
price of grain in the cheapest, poorest
paid pauper labor country in the
world, and today informs US she will
"accept" our grain at "that'' price
or we must pay her the ''gold"'-as
named in the bond-and she will buy
the grain over there.
That is how the "price" is fixed in
London for New Y ork, Chicago, Oma.
ha and Boggtown crossroads.
How is payment made? Don't Eu-
rope pay us gold for grain and meat
and cotton?
No, Europe does not pay us "gold. "
On the contrary, while we send abroad
thousand million of dollars worth
of products year, instead of getting
pay in gold, we send some gold and
silver along with the goods.
What! and get nothing in return?
Precisely. We get ''nothing" but
the interest coupons clipped from the
bonds held abroad, which clipping in
no degree reduces the principal or
pays the debt, but after we have an
nually poured our thousand million
dollars worth of products into the lap
or nav of London for one hundred
years, we find that this entire vast ex-
port has not paid the interest and the
debt has grown larger by the sum So
unpaid.
But, look here, the republican party
has been telling us that this vast ex-
cess of exports constitutes a "balance
of trade" in "our favor" Is not
this true? And if so, how do you re-
concile it with your statement above?
1t is not true.
1T" we took into account ONLY
the goods exported and the goods i'm
ported, and elf" we received cash for
the excess exported, we might proper
]y say the balance of trade was in our
favor, and this ha]f-told story is what
the republican editors, orators and
spellbiuders are peddling for the truth,
when in reality it presents an entirely
false conclusion, for we do NOT get
cash for the surplus Of exports, but
the account is balanced with interest
coupons which represent nothing,"
and is only diplomatic varnish for
the unpalatable truth that we have tied
our financial system to the wheels of
Roths schild's golden chariot and are
paying 'interest" for the use Of his
gold or credit, when we should have
established a system independent of
him, and then, when he became hungry
and wanted our foodstuffs, he would
have had to pay "our''z price. which
we could have fixed for ourselves if
we owed no foreign debts. ...--
But, the question is asked above
and not yet answered in detail, How
is the payment for products made?''
Let US suppose a case. The city OF
Omaha (and this is but one among
thousands Of similar cases has bor-
rowed money-sold bonds. Perhaps
Q local banker bought the bonds, but
when times got tight he negotiated or.
sold them to Chicago or New Y ork
bank, which in:turn borrowed money
from London and gave the bonds as
securitY, or, what amounts to the same
thing, sold the bonds to q :Lond on
banker r othschild, for instance. The
Omaha debt now becomes part Of
the the debt owing BY people Of the Uni-
ted States to the people OF Europe
The Nebraska farmer sends . carload