The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1877-08-30
lsreenbacks and the Farmer.
A Correspondent Of the Davenport

A Correspondent Of the Davenport
Guzette says:
If YOU will take the trouble to look |
over few of the different county re-
cords you will find three-fourths of
the farms are mortgaged, either direct
ly or indirectly, to these Eastern mon
ey lenders and the money they receiv-
ed was worth at that time according |
to your own words so and s. cents on |
the dollar Now, ii seems to me, that |
to force them to pay one dollar for s0Or
s. cents, or $50 i'm 81 900 more than
they received, is, to say the least, very
unjust.
To which the Gazettamakes answer: /
The greenback dollar-a promise to
pay dollars now with gold tat 81, |
o., worth s5l cents. Therefore, ac-
ooriing 10 our correspondent, the !
debtor who borrowed thousand dol
lar when lie .rseenhacks was worth
- eent- and ssho must pay that debt
TO-DAY. w0alI le suffering injustice 10
the extent Or sseent- on each dollar
the 20 pay or tn a total extent Of So.
~tric; justice. then, a. viewed by cur
friend, Heala require that A. who
lent Z the money il question. should
now receive ssst5 in full discharge Of
! hi. claim. Admitting. tor the sake
/ Of the Argument. thai Shis yieg Is
precisely correct and entirely una-sail-
able. in what gay can delay Of re-
| sumption secure the measure Of exact
| justice ther.upon deaired2 Progress
towards resumption has already been
made, since that debt was created. 80
that the value Of the greenback APP
preciated from 81 TO 81 cents. Shall
that ratio of progression be reversed
and the greenback be again depreciat-
ed until it, value is only - cents
If not, how shall exact justice between
A and b be secured, on the theory OF
our correspondent
But how does Farmer b procure the
money which he will pay to A in
discharge of that debt. Clearly, by
the sale of produce the proceeds OF
which are increased by just the dis
lance trayersed from the dollar of ~
cents 10 that of So cents. For, the
price at which he can sell his wheat,
corn, cattle, etc, has all the while
been based on the gold basis of Liver
ton at New York. In consequence
of that appreciation in the purchasing
power Of the dollar which he receives
fo- his produce, he can to-day buy the
more, for that dollar, OF sugar, coffee,
tea, dry goods, woolens, etc, then he
could when the value Of said dollar
was only s. cents; for every pound
and yard of such purchases has its
value, also, determined on the gold
basis OF the commercial world, and
not at all on the greenback basis OF
the United States.
Is it clear. then, that in the end, the
interests of the farmer even mere
than ofthe money lender, is to be
subserved only by q return TO a stable
standard of yaiue-a dollar worth one
hundred cents and no less? At any
rate, the Gazette does not hesitate to
affirm that its advocacy of an early
return TO such equable values is found
ed upon a desire to benefit the debtor
| claSse--the poor man-rather than
/ the rich. As Secretary Sherman well
said in his recent speech: "A depreci-
ated paper money cheats and rob-
every man who receives it, ofa por-
''tion ofihe reward Of his Labor or
production, and, in all times. il has
been treated by statesmen as one OF
''the greatest evils that can befail a
people