The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1886-09-23

mercial paper in the transaction { f |
buslness-all this, if ever paid,
must be paid out of the profits of
labor.
when dollar buys too much. |
as 1t does now, it cOmpels the pro.
Queer to furnish more of the pro-
duct of labor to meet the oblioa-
lions, and it cuts off his profits and
his ability to use and Consume and
enjoy the benefits of life created by
his brother producer. One of the
greatest calamities that can befal!
ouI people is the cheapenIng of the
necessities of life. The men who
consume the necessities of life, pro
duce them, and when you cheaper
those necessities their ability to
produce and consume is lessened as
the profits of labor are thus lessen
ed. When you lower the price of
cotton, of wool, of wheat, or meat,
of everything produced from the
soil; of iron, of coal, of everything
dug of the ground; of the loom and
the anvil; you increase the burdens
of the people who must pay every
evidence of debt out of the profits
of their labor.
"This nation is the great produc
er of the necessities of life, and can
supply the world. When we cheap
en- those necessities below a golden
mean that brings a fair reward to
our producers; when we ship out of
the nation what they produce and
sell TO the foreign consumers with
out a profit, we bring no prosperity
to the nation or to the producer;
the measure of prosperity to the
nation or TO the individual is gov
cred by. the profit received in return.
We can export a Thousand millions
year of cotton, of grain, and not
add dollar to the wealth or pros
perity of the nation or Individual,
or improve the condition of sin
gle family, unless it is done at
profit. The whole foundation of
political economy, and the whole
progress, prosperity and happiness
of our people rests on the one word
fit.
"What the people need to promote
their happiness and improve their
condition, and enable them first to
have the necessities, then the com
forts, then the luxuries of civilized
life, is home market for the pro-
duct OF the soil, the loom and the
anvil. This can only be brought
about by all industries being profit
able.
"The proposed application Of the
surplus in the treasury to the re-
duction OF the national debt will
give no relief. 1t will still further
increase the purchasing power of
money by making it scarce. The
calling in of hundred millions of
bonds will wipe out seventy-fve
millions of national bank circula-
ton without substituting anything
for 1t, and the gold paid out
of the treasury will not go into &C
tive use but will End it's way back
again or be taken out of the coun-
try.
"True craftsmanship would sus-
pend all further reduction of the
national debt, all of which can be
funded in 2 per cent. annuity and
made the basis of circulating cur
fency to meet every business want.
The surplus revenue drawn from
the foreigner as a license paid for
entering the home market our peo-
pie have built up. if divided among
the states, would relieve our people
from local taxation-the greatest Of
all burdeus-and enable them to
pay of the state debt, bearing high
er rates of interest, and help them
to command, use and enjoy more of
the necessities of life"