Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1878-07-04
The Farmers and Resumption.

Tue lolloNlus Hou tue oiAiabu j iSss
will be read with interest by our farmers,
as 1t clearly shows the class who would be
benefited by an Inflated currency;
All people In this country. save the mon-
opoli.ts and SPECTATORS, those who prey
upon the earnings Of others, are vitality in
terested in speedy return to specie pay
ments. No honest occupation can be in
jured by resumption while ell the Industrial
interests OF the nation will be essentially
benefited BY the restoration OF sound
standard OF value. Bot OF all the interests
OF this country the agricultural interest
has the most 10 gain by resumption. The
reason Is obvious. The entire surplus of
the great agricultural staples of the coun-
try finds its market abroad. and Is there
sold al a'gold valuation. In every year OF
great harvests vast quantities OF wheat and
corn and other products 90 TO Europe and
from this surplus our Western farmers
draw great profit. Here In the East, it's
true, the tilling OF the soil is not conducted
upon so extensive & scale, and We have lit
tie or nothing TO export. Bui the Euro
pean prices materially affect the hOIe
market. II cereals are low In Europe they
will be low here. II there is sharp de
mand and high prices abroad like condi-
tons will obtain here; for II the farmer can
get more for his products By sending them
over the water he will surely send them,
and the result will be q diminished supply
and rise in value ST home. II or the con
trary prices rule low abroad much less will
be exported, there will be an excess here,
and prices will fall until it becomes profit
able TO export. Thus the farmer in reality
Is always forced to sell his staple products
az At - all trzli tln %
as he can bay what he consumes at the
same prices. But II he Is forced to buy
what he consumes al currency prices, and
sell wASt ks DEoolass ~ god sssse~s, S,~
This condition OF affairs has obtained for
many years, aud the agricultural interest
has been steadily falling behind. That Is
why our farmers SO keenly feel the effects
of the Industrial, and commercial stagna-
ton brought above by All Inflated curren-
cy. They have been obliged TO sell al low
and buy al high prices.
New resumption means tbs and simply
this; the equalization In value OF tie gold
and paper dollar. That is. the farmer who
sells bis products at gold valuation (snd
he must sell at gold valuation. for his
market Is not provincial but the world. and
his goods must therefore be measured by
the standard OF value In use in the COM
meree OF the world, can buy his articles OF
consumption az the same valuation, and
whatever profit he makes is not swallowed
up by making good the differences between
coin and paper standard. What will be
the consequence If the CreenbacAers sue
coed in their aims, and further imitation
of the paper currency is brought about 2
The consequence will be this the prices Of
all the farmer consumes will advance - or
80 or IS per cent while the products he
has 70 sell must still be sold at gold val
nation. II will cost him much more TO live.
and he will get no more for the result Of
his labor. His case Is far worse than that
of many OF his fellows. The manufacturer
for example will make his goods under o
deprecated currency and they will cost
him 30 per cent more, but as he sells them
under the same currency he gets 80 per
cent. higher prices and so saves his Gus
tomsry profit. But the farmer who is oblig-
Ell to pay 80 per cent. more for labor and
material finds the market for his surplus
abroad and at gold prices and fails TO OBJ
tain the nifty per cent. advance which he
needs In order TO get his ordinary profit.
be emphatically ii is who suffers by an in
fiated and irredeemable currency.
The only men who gain wealth BY means
OF imitation are the middle-men, who do not
produce bnt live on the productions Of 9TH
ers. who take toll on everything that passes
through their hands, and the spectators
who had their opportunity In great and
sudden fluctuations in prices. These are
the men the producer supports, and every
thing that goes TO multiply and complicate
exchanges is TO their profit. Differing
standards of value increase their operations
and in consequence their gains. Each far
meE who sells At one valuation and huys at
another, contributes to the support of these
men, for they exact their percentage in one
form or another on every dollar that passes
through their hands, and from the ex-
change from one standard to another they
derive great additional profit. These are
the ''money-lenders" and "note-shavers,
and 'bloated capitalists" the farmer mas TO
fear, and anything that will aid in the
"shrinkage" OF their operations is to his
advantage. Resumption will dry up one
great source Of their gains and relieve the
farmer of one great burden upon his re-
sources Certainly he of all men should
be most DESTROYS of resumption.