The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1889-04-30

8 D0"3t"otang Money Eoa0eT, Oenaor1e-
tfS d S'lOer-1he Money Of the In
= df@st'qaL CloSses--Donaa'aates Legasla.
tlon, an COnhacttmy and Controlling
the Currency, IN the Interests Of the
Few against the Many, TO the ImNat;.
mSnt Danger Of our Civilization and
the S~buersion Of our E'sststutfomssot 8
se~. ..a r.--- g.18bHsF 1aE
d.. ..4 No. 6. s8.ssa kaa
[By Maj R. L. Ragland, of Hyco, Val Ii
naU. MONEY. sr 1G 1as @
While many things have been used
- money-the medium of exchange,
DOM estlc and national-silver and
gold, possessing intrinsic. value and
convenient forms, long ago became
the most universal. Under the Jewish
econ6lnY, silver is constantly referred
to as money. Abraham was rich Hin
silver and gold," and purchased a
tomb for Sarah, his wife, with "four
hund dred sheckels of silver, current
raoney with the merchant Joseph
was sold for twenty pieces of silver"
aad there was found in Benjamin's
sack three hundred pieces Of silver"
The Bible says nothing about gold
bsing used as money, though much
valued and extensively used as orna-
manents and for decoration of tenn
pies, altars and palaces.
The Lydians coined money nine
hundred years B. @. Greece, about
100 years later; and Rome, not till
28l years B. G. Silver and gold
passed as legal tender-the first for
over 5000 years and the latter for
1000 years. England ceased to coin
silver as legal tender in 1915, and the
United States demonetized silver in
1873, by fraud in legislation. The last
act was an outrage on popular rights,
and travesty upon justice, for the
United States to follow England's
example in demonetizing WHITE money,
So, long the satisfactory and popus.
lar circulating medium The COM
mencement of monometalism in the
United States was signalized by the
most disastrous financial crash and
stringency of modern times
Every mint in Europe was closed
against silver in 1876, and most dis
astrou5 results followed. Industrial
extremity makes capitals opportunity
to Grain It's insatiate maw with i'll got
ten treasure. Thus big fortunes are
made while the people groan.
MONEY AND CIVILIZATION. f#
The Israelites, at the height of their
glory and prosperity, were abundantly
supplied with money. The same may
be said subsequently of Greece and
Rome. The arts, Sciences learning
and industries fourished then, as
never before. ''The history of the
Roman Empire is a history of con-
quest and the accumulation of gold
and silver" A careful historian esti-
mates the money of the Empire during
the reign of Augustus at ST. 100000
600, besides hundreds of millions of
gold and silver in ornaments, decora
tions, etc. The same historian esti-
mates the gold and silver in the coun
tries once comprising the Roman En-
pire, after eight hundred years, as re-
duced to about $4,000, 900, show
ing decrease of 81, $50, 100000.
"The loss of money was followed
by extreme poverty, feudal slavery
and barbarism. There was no power
in the people to resist oppression, for
they had no money" The wear and
loss of the precious metals and the
of coinage, between the
reign of Augustus and discovery of
had nearly extinguished
and reduced the people of
Europe to feudal serfdom
Bukle says Ro.ne fell because the
rich contracted her currency for their
own benefit, and thus impoverished
the people and robbed them of their
One of the clearest think
ers of this age on this point asserts
that "the dry-rot began by allowing
the land to pass into the hands of the
few, thus impoverishing the people.
The political economy of any nation,
based upon laws which hinderpr produc-
ton and promote or connive at the |
unequal distribution Of the proceeds |
Of wealth accruing from labor, is as
false as it is dangerous.
So long as the production of gold
and silver kept.pace with the increase
If population, and afforded sufficient
supply Of money for the necessities of
;rade, commerce and industry, the
country prospered. But, from 1910
% 1850, population grew faster than
he coinage, and the consequence was,