The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1889-12-24
THE COMING SLAVERY BY THE
u DESPOT GOLD.

LII 1000 Inc export value OF wheat
was $l.9l, for 1888 the average value
was 1854. The production for all the
United States was 224, O36, 600
bushels in 1868, and 1868, 900
bushels in 1888. In 1868, 1890 500
bushels of wheat and 2,o76,423 bar
rels of -four were exported, $685.
26l bushels and ii, 963, STA barrels in
1888. The production increased 85
per cent, the export increased by 3l3
per cent. on wheat and 478 per cent.
on flour. The export has fallen off
from lOl, 81, 949 bushels in 1887,
and l53,252. 795 bushels in 1880. So
the comparison is just. Population
increa sed in that time about 60 per
cent, or within Is per cent. of the in
crease of production. The increased
foreign demand represents at least an
increased population equivalent to %
per cent. of u home population in
1868, and probably more. Now, in
view of this increased number of
bread dealers which has outstripped
production, the cry of "overproduc-
ton" is fraud. But the export aver
age value of wheat has fallen 55.3 per
cent. Of the value in 1868.
DO o KNOW WHY?
Take cotton, for wheat, cotton, corn
and land are, next to silver and gold,
the best known measures Of values.
The cotton crop of 1868 was
l,l73,43l,l ia pounds, for 1888,
3,439, l72, 391 pounds. The export
was 785,4l5,226 pounds in 1868 and
1884, 324, 1913 pounds in 1888. The
average export value was 1872 cents
in 1868 and 9.8 cents in 1888. The
export value has fallen 40 per cent.
By the census report of 1880 the an
nual co. sumption of cotton per capita
was, on an average, 1915 pounds in
1881, and 4O.8 pounds in 1880 for
England. In the United States it
had risen from 81 pounds in 1881 to
1896 pounds in 1880, factory system.
The export grew by 1873 per cent.
since 1868; the total export, on the
English average, representing an in
creased foreign population as consum-
ers of about 80 per cent. of our popu-
lation in 1868. Our population in
creased about SO per cent, total about
100 per cent. increase in the consum-
ers of cotton, and the annual average
consumption per capita increased over
100 per cent in so years. In the face
of the cry, "overproduction !" we
find these statistical facts in the United
States reports and yet the value of
cotton has deprecated about so per
cent.
DO YOU KNOW WHY?
The same depreciation may be
shown in other products of land and
labor.
DO o KNOW WHY?
Take land. A mortgage debt con.
tracted in 1868 Of, say, $1,O at 8
per cent. with all interest paid to
date, but principle still good, is vastly
increased by the loss in it's debt pay
ing power. The average yield per
acre of wheat is lowering, but if it
remained the same, the value per acre
fell from $l7.29 in 1868 to 5000 in
1888. That is, the debt paying power
of an acre Of wheat land has fallen
$500 per acre or nearly 40 per cent.
The same state of facts may be
shown on other products of land in
varying ratios. AS a result land has
deprecated an average as nearly as [
can figure it of about 33 l-3 per cent.
or, say, l Upper cent annually. Your
mortgage is growing at that rate, or
in effect, $500 increase in 20 years
and interest is now nearly IL per
cent.
DO YOU KNOW WHY!
At the time of enacting the first
United States coinage laws in 1892
the ratio of gold to silver vas l to
1917. The silver dollar was made
the unit of value and legal tender.
At the time of discovering gold in
| California in 1848 the ratio was l to
1885. The worlds supply had been
largely absorbed by, the arts, wear,
loss and the East Indies. Silver had
to be used. Development OF the silver
mines in the United States began
about 1868. Their phenomenal yield
has changed the ratio to 1878 in 1878
when, by a sharp trick of capitalists,
John Sherman got a coinage bill
through Congress dropping the silver
dollar from our coinage and making
the gold dollar the unat of VaIue. In
| 1888 the ratio was | to 81. 10 of silver.
In 1873 the value of the dollar of 81
grains pure silver, Az IL grams
gross weight, in the London market
was $1,000. In 1887 it was $.758, a
depreciation of 24.5 per cent. of our
"dollar of our daddies in IA years,
Or l ga per cent. annually.
Do you know what this means? 1t