People's Pilot, Volume 4, Number 42, Rensselaer, Jasper County, 6 April 1895 — All for Creditors and Bondholders. [ARTICLE]

All for Creditors and Bondholders.

The money question is the great question under the present financial system of our government. The contraction of the currency brought with it, by a law as inflexible as gravitation, falling prices. Low prices is another name for dear mot •'V Debts contracted when wheat was $1.50 have to be paid when wheat brings only 50 cents —that is, the debtor, in addition to the interest, pays in labor and its products three times as much as he borrowed. Under such conditions the power to purchase grows less and less. The wheels of industry are stopped. Manufacturers have no market for their goods. And men raise the cry of overproduction, when there are millions of people in sore want of the very articlesthese manufacturers would like to sell, but which they (the producers of the country) have no money to buy. When the factories close then the wages of the workmen stop and their purchasing power comes to an end also. But the bondholders of the world collect their interest (8, 10, 20, 30 per cent), and when the interest is not paid they take the property for the debt- The Age.