The Wichita city eagle. [volume] (Wichita, Kan.) 1872-1883, 1879-02-06
Finance and Over-Production.

s. p. Hollingsworth, of jackson coun.
ty, Texas, writes to an agricultural pa.
paper on the above subject, as follows
81 have read with much satisfaction
many articles upon the subject Of finance
and money, most Of which 1 most hear
tily endorse, though not greenbacker,
but a lifelong Democrat. The greatest
objection that have to your plan or
policy is, the plan of relief that you pro-
pose to have the Government adopt, in
order to afford that relief which the
country SO much needs, to wit: THAT
the Government shall turn banker and
loan money to the people" to this plan
allow me TO enter my most solemn pro-
test. For this reason, that experience
has demonstrated that it viii not do to
allow politicians to create money, and
then loan it out to their constituents.
am old enough to have seen this plan
tried and tested fully under the State
Bank system of Alabama i'm 1867. The
Legislature created the banks, appoint
ed the Directors, or approved the ap-
pointments made by the Governor,
which amounted to about the same, and
then when man wanted money all he
had to do was to go to his Senator and
get his recommendation and go to the
bank and get his monct. And soon the
bank had no money to lend. But il is
true, as you assert, and rc-assert, that
Congress has been legislating ever since
1865 for the benefit of the capitalists, to
the rum Of the farmer, the merchant,
the lawyer, the doctor, the day laborer,
and in fact every body else. 1t is now
time that they should legislate little
for the masses.
But says the capitalists Of the East,we
have now resumed specie payments and
all will be well. Will some one Of them
rise and tell US how the farmers-thc
producers of the West and South-are
to be benefited In the near future b,
this reduction of 81 200, O00, 900 Of cur
rency from the circulating medium of
the country-is to be supplanted, or how
the producers of the South and West
are to get any more for their corn and
wheat, oats and barley, and their cotton
than they are getting now, and if not
how are they to live and make sup
port for their families, for it is an adj
mitted fact in our State, and can be pro-
ven by more than 500 men in this, John
son county, that no farmer, at the pres
ent price Of produce, corn, wheat and
cotton, can make one single cent by
hired labor, because we have had one of
the best crop years in 1873 that has ever
been in this State, and yet there is not a
man who could at any time the past fall
have sold all the produce raised by any
one or two or three laborcrs for the
money that it cost to pay their wages,
including their board then as is well
said by your Louisiana correspondent,
how are the farmers to live with corn
nj twenty cents, and no market for il at
that, for there is at least 800, 900 bushels
now in johnson county that cannot be
sold at any price, not even Is cents per
bushel; wheat at Is cents, cotton at six
TO eight cents, when it costs one-half OF
cotton crop to get il picked ont. These
being facts, again ask, as did ''Ureka"
what are we to do? How are we to
make any money to pay our taxes and
purchase the absolute necessaries of life
sugar and coffee, salt and clothing for
the family-with corn at 20 cents and no
buyers, pork at to ? l-2 cents, net, and
no buyers at thrt; cotton at 6 TO s cents
- the average-no man can afford TO
hire labor. and.. make produce at these
prices in this country. Then what are
we. to do? Will you or some of your
specie resumption friends please inform
us? 1t seems TO Inc that have produced
more than there is any demand for: and
yet, "What are we to do about it!'
Arc we TO ST. down and do nothingE
journal Of Agriculture.