The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1888-10-25
PremeditatedEvils.

lie debt of the United States into Il
coin debt and TO provide for resuinp-
ton by destroying the Treasury
notes and substituting for them non
taxable Understanding bonds. SEN
ator John Sherman warned the couu-
try Of the peril to every business in
dustry and enterprise. He declared:
1T Is not possible to take this voy
age without sore distress. To every
person except u capitalist out Of debt.
or to the salaried officer or annuitant.
it is period of loss danger. las>itude
Of trade. fall of wnges. suspension Of
enterprise, bankruptcy or disaster.
1T means the ruin of all dealers
whose debts are twice their capital.
though one-third less than their
property. 1t means the fall Of all az
ricnltural productions and wages
without any very great reduction OF
taxes"
| Thus was the Congress made ac-
,quainted with the peril to the coun-
try from the adoption Of this policy,
and yet, in 1869. John Sherman was
the author of the legislation which
was designed to and did infilct all
these predicted disasters upon the
country. His words quoted are the
condemnation Of John Sherman and
of the party that adopted the policy
he SO truly portrayed the evils of.
and SO strongly condemned.
The premeditated crime Of con-
traction and resumption in reducing
prices and pauperizing labor, thep eo-
pie of this country have experienced
in all its bitterness, woe and suffering
and to restore the Republicans
again to power is but to invite its
repetition.
After Ernest Seyd. the emissary of
the Rothchilds, had visited the Amer,
lean Congress with 100000 Of British
money. securing the decentralization
of silver through bribery and fraud,
a commission was appointed to look
the matter up and report to Congress.
The report of this commission has
been suppressed AZ fully as could be
done, yet here and there a copy Of it
may be found Here is an extract
from it,:
primarily, then, prices must have
been entirely controlled by the vol.
ume of money unaffected by credit
There can never occur universal
fall i'm prices. and general with.
drawal of credits with preceding
decrease in the volume Of money
As the volume Of money shrinks.
prices fall. When money is decreas-
ing in volume. prices have no bottom
except a receding one, and they are
inexorably ruled by the volume OF
money. In the whole history of the
world, every great and general fall in
prices have been preceded by a de-
crease in the volume Of money. At
the dawn of the Christian era the me-
tallic money of the Roman empire
amounted to 81. 800, 900. OO0 At the
end Of the fifteenth century it had
shrunk to 5000, 900, 900. During this
period most extraordinary and
baleful change took place in the con-
dition of the world. Population
dwindled. and commerce, arts. wealth
and freedom all disappeared. The
people were reduced by poverty to
the most degraded condition of serf-
dom and misery. The lisintegration
of society was almost complete. The
conditions of life were so hard that
individual seliishness was the only i'll
stinct consistent with self preserya-
ton. All public spirit. all generous
emotions, all noble aspirations of
men shriveled and disappeared as
the volume shrunk and prices fell
That the Dark Ages were caused by
decreasing money and falling prices,
and that the recovery therefrom and
the comparative prosperity which
followed the discovery Of America
was due to the increasing supply OF
the precious metals and rising prices
will not Seem surprising or unreason-
able, when the noble functions of
money are considered. Money is the
great instrument of association, the
very fibre of social organization, the
vitalizing force Of all industry, and
as essential to its existence AS oxygen
is to animal life. Without money
civilization could not have had be
ginning-with u diminishing supply
1t must languish and. unless relieved,
finally perish
i Values are regulated by the volume
of money in use in any country. 1t
fixes the market value Of the farm
and Of its productions of whatever
kind. To double the volume of
money in use in any country is to
double the prices of the farms, of the
labor and Of the productions of that
country.
The net profit of we'll conducted
farm establishes its value as an in
vestment. With beef at two cents a
pound and wheat mt fifty cents a
bnshel, the prudent purchaser would
know how to fix its price. But with
beef at 4 cents pound and wheat ut
81 Il bushel, the farm would be worth
twice as much AS at two cents for
beef and fifty cents for wheat.
A man owning II farm valued at
So, 900 OH the basis of net revenue af.
ter paying expenses of operating has
it mortgaged for 1000 The mort
gagor and mortsagee, then, are equal
owners in the value of the farm. Now
All increase in the value of the prod
ucts of the farm that would double
their price would increase the inter
est OF the nlortsagor to $4,000. while
the mortgaSee's would be but 81, 600
MT