The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1877-12-12
FARMERS ASSOCIATION.
RESOLUTIONS of "a Meeting mt Polk
Vile, smitH County.

/. We believe the time has come
when the farmers of this country ought
to give an expression of their opinion on
the subject of finance and the oppressive
system of transacting mercantile BUSH
ness.
2. We believe in the integrity of the
people if their intelligence shall prove
equal to the wants of the situation, we
have nothing to fear.
8. WHEREAS, The money-lending in
terest represented by the Bankers As
sociation, and the commercial interest
represented by the National Board of
Trade, have expressed their sentiments
upon the question of finance, the agri-
cultural interest can no longer remain
silent with self-respect.
4. WHEREAS, The elements of power
or influence in the social compact known
az apublic sentiment" must necessarily
remain badly out of balance, while so
large and important an interest as that
of husbandry, neglects or refuses to
speaks its honest convictions from its own
standpoint; to thus speak, it is not,
therefore, mere privilege, but duty,
that cannot be evaded or set aside by
the farmers of America.
s. In order to acquit ourselves OF this
duty in suitable manner, be it there
fore
Resolped, That we hold it to be against
reason to expect public confidence to
abide without distrust in a currency
not legal tender -professedly convert
bic, on demand, in gold or silver coin,
when it is known that the issue, as COM
pared with the basis, is as three to one
No person holding a claim of that ma
ture could feel certain that the thing
promised would be forthcoming when the
demand was made. Such system we
esteem false in principle, because it un-
dertakes an impossibility. But not only
is the theory of specie basis void of
sound principle, and wanting in ability
to maintain public confidence, but its
practicability In the present condition of
the national finances is entirely out OF
the question.
9th. That the Resumption Act should
therefore be repealed without delay
7th. That the demonstration of silver
seems to us an act, as void of sound pol
icy as it would be for the farmers, had
they the power, to deprive corn of its nu-
tritious properties as food for stock. In
view of the coin obligations of the gov
eminent, we would hardly regard citi-
zen as sound in mind who would oppose
its restoration.
9Th. That we regard what is known
as the National Bank Establishment, as
unnecessary, expensive and dangerous
to the peace of society; and therefore
recommend its adjustment.
9th. That we favor the issue by the |
government, of legal tender treasury |
notes, which shall be clothed in common |
with gold and silver coin, with all the |
elements and powers of money.
10th. That to regulate the value of
this money and to indicate the volume,
demanded by the needs of the people, we
recommend that under suitable and just
regulations, it should be loaned to the
States, cities, and citizens, at the annual
rate of three per centum.
18th. We believe that the present
condition of the farming communities
demand and reasonably expect radical
change in the mercantile plans of doing
business as now conducted.
18th. That we regard ten per cent.
net profit on an average on the sale of
mercantile (retaiD commodities as
fair and liberal profit; and that no more
than ten per cent. on this profit should
be added for goods sold on time, when
the payment is secured. 1t seems to us
that this basis is equitable, just, and rea-
sonable to all persons, and more than
this we will regard as extortion, unrea-
sonahle and oppressive, and should merit
the just indignation and scorn of every
good citizen.
18th. That to carry out these princi-
pies we organize ourselves in a body
known as the Farmers Association, at
Polkville, Mississippi; we therefore cor
daily invite all who are friendly to these
principles herein set forth to assist us in
maintaining the same.
VIM. EAsTERLING, Pres't.
A. S. BAUeH, Sec'y pro tenn.