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

US, forcing additional stringency by
the exploration of gold and silver, to
liquidate that balance, and thus added
to the stringency and distress Of our
home industries, 80 3.-.-
arr MONEY AND PROSPERITY. fG
II hen came the discovery of gold
and silver ON the Pacific slope, and
soon afterward gold in Australia 8 and
at a time when civilization was at a
standstill and the wheels of progress
.clogged for want of money" The
average annual product of the mines
of the world, in 1850, was $40, ,OOO,-
zO00-now $200,OOO,OOO, five times
greater now than forty years ago |!
Enough to yitalize and revive all of
our industries If turned into legiti-
mate channels IL ,eEn01 asaw sae
But for the delnonetizing of silver
in Europe and the United States, the
zcurrencyiof the world would be- far
more adequate ito the wants Of the
people than it is under onometalism
The financial legislation Of the United
States and of Europe, lin favor of the
creditor class-the aholders of and
strivers after accumulated wealth--in
the treatment of silver, has checked
industrial progress and lowered the
price and income from labor; causing
industry and enterprise to languish
by enhancing the value of money and
securities in contracting the circulating
medium.
The volume of currency now in the
United States is entirely inadequate
to the necessities of the people-less
than 35 per cent. of what it was in
1865. It was then $46.37. Now
only $l7.29 per capita. Any wonder,
then, this money structure has throt-
tied industry to swell the profits of
capitalists? !? A little more contract
ing and tightening of the financial
rope, and the goose which has laid
golden eggs will have all the life
squeezed out of her(?) ga IL
HISTORY IS AGAIN REPEATING ITSELF.
AS the money and wealth Of the
nations centre into the hands Of the
few. The first act in the progress back
.sUard was by England s ceasing to coin
silver in 1875. But what else could
we expect of an aristocratic Parlia-
ment, unrestrained by popular repre-.
sentation, but to obey the behests of
the money power ? The purchasing
power of gold is increased, as money
becomes scarce and the products of
labor cheap, in the ratio of constric-
tion in the circulation, England is
largely a creditor country, of debts
payable in gold, and any change which
entails rise in the price of commodi
ties generally; that is to say, dimi-
mutton of the purchasing power of
gold, would be TO her disadvantage"
Money scarce makes money dear
DEAR MONEY MAKES LABOR AND PRO-
DUCTS CHEAP.
A financial policy which enriches
few favored drones, at the expense of
the great hive of humanity, is as
criminal as it is suicidal. In this-age
of advanced civilization, the people
will not long tolerate Legislative favor
itism to preferred classes. The leaven
of universal freedom and the spirit of
equal justice, national, State and mu-
nicipal. to all classes, creeds and call
ings, are working all over the world,
permeating and elevating all ranks
and conditions of mankind; and they
will ere long cease to tolerate the sem
blance of favoritism and nepotism,
high or low.
The people of the United States, as
nowhere else, see the situation and are
setting about to rectify some very
unequal, unjust and impolitic past
They see clearly, that
the medium of circulation should be
made to keep pace with the increase
of population, and the necessities of
the people; that silver should be re.
stored to its former standing as
and as nation we should be
as politically, independent
of Europe, to promote our CONNER
cial and industrial interests and stand
ing.
SUMMARIZING THE MONEY QUESTION.
AS the home interests of the people
override all other considerations, and
to emancipate themselves and pos
berity from financial servitude is vital
and indispensable to permanent relief,
the farmer and the mass of bread |
winners should unite, as one man, to
abor increasingly for its accomplish |
nent.
TO DESTROY CATERPILLARS.