The state herald., 1890-04-25
OF INTEREST TO FARMERS.
Tho Views of Senator Teller on the
Present Depression Of Agri-

The Views of Senator Teller on the
Present Depression of Agri-
cultural Interests.
A short time ago the editor Of the
Colorado Tdrmcr wrote Senator Teller
requesting Ms views on tho matters nov
so deeply agitating tho farming communi-
ties. To his letter he received the follow
ing reply:
UNITED STATES SENATE, !
WAsHISGroS, ID. Z.
. A.. April $, 1850. J
ID. w, WORKING, ESQ,
EDITOR Colorado Farmer,
Denver, Colorado.
DEAR Sin:
nm ih receipt of yours Of the Goth ult
Tho ptcss of Official duties here must be
my excuse fbr my delay III answering youi
letter rs well us the hasty and somewhat
unsatisfactory manner In which am com
pollcd to consider the questions you sub
NIT.
1t is admitted that agriculture is much
depressed not only in the United States
and Great Britain aud many other conn
tries. Tho depression Is SO general that IL
must be admitted that tho cause must alsc
DO general. Such depression In very ser
iously affecting directly uil agriculturists
who In nli countries compose the great
body of tho people, md are the reul ere
ators OF wealth; aud Us agriculture is The
basis of nll commerce and trade it is II mat
ter OF serious concern to all the people tc
remove, II possible, the cause Of such de
preston, which although ut first is con
fined to agriculture, must in time become
universal.
You may have noticed that 1 have al
ready taken the position in the Senate tina,
the admitted agricultural depression, be
cause OF the low prices OF agricultural
products, is to be attributed in large
degree to u lack OF sufficient money tt
carry on tho business of the country. This
believe to bo true, not only of the United
States, but Of other countries. That tho
demonetizntion of silver has been tho di-
rect and immediate cause OF the shrinkage
Of the volume of the worlds money and
therefore IL may bo truthfully said that
this depression Is the result of that great
folly.
believe the first step towards securing
sufficient amount of money to this ant
other countries OF the world, Ia TO remonc
tie silver aud allow the business OF tn,
world TO be transacted with both the money
metals, instead Of with one rs has been
practically the case during tho last fifteen
years. II the mints of the United States
are open TO the unlimited coinage of silver
on the same terms gold Is now coined, we
shall nt least In this country secure an i'm
mediate irr Of money and All increase
or circulation until the real wants of the
people In that respect arc provided for
do not know as even the unlimited coin
age OF silver would give us ut once Il SUM-
cheney OF money to transact the business
of the country under conditions that shall
give to the producer of farm products q
proper price for tho same. and am moi
sure with n Eunlciency of money that
prices will advance TO the desired point
because there may be other agencies be
sides a lack of money that have assisted
to dcprcss the price Of farm products.
Ono of the causes of the low prices OF
wheat is undoubtedly the falling on of tho
demand Of other countries for our products
This may be attributed TO the dcmonetizg-
tion of silver, which has enabled the wheat
grower OF India to send his wheat tc
European markets sell the same at gold
priccs-then buy cheap silver, take II
back 10 India aud coin IL at II rate thai
gives him from forty-two to forty seven
cents profit on each ounce of silver so pur
chased by him, because the mints of India
are opened to the unlimited coinage of sill
YER and the silver so coined will buy rs
much OF the produce OF India as II would
thirty years ago.
am in favor of general control by the
government of the United States of al
railroad companies engaged In information
al commerce so as to secure lust and fair
rates 10 nll persons and all communitie,
engaged In such commerce without unjust
discrimination, and have on all occasion
given my vote ior such legislation.
an IN favor OF the States eontroliinl
the railroads within tho States Ia
such Il way rs TO secure 10 the pcopl,
OF the State II proper discharge Of the dut
les assumed by su ii railroad companicl
when allowed by the State to do business
within the State. think the States hav,
full authority TO do that, and such nuthori
ty should be exercised. My views on thii
question were fully expressed in u lcttc
that wrote 10 Senator Gardiner durin.
the session OF the last Legislature, whici
was published in the newspapers OF Colo
rado at that time. think IL Is to b.
greatly regretted that the Legislature di,
not deal with that question on the genera
plan suggested In my letter. have no
changed my Views on this subject; n rc
cent decision of the Snprcmc Court OF tn
United States, Is In accordance with iht
suggestion In that letter, that In hxini
rates the railroad company must be giyci
the right 10 appeal to the courts, to de
termine whether the rates fixed are +, a :
enable or not, but the court does not den,
tho right of the State TO fix rcasonabl
rates, and courts can not interfere II rate
are reasonable.
In answer TO your third inquiry concern
Ing the Pacific railroads. cannot fully an
swcr IN u letter OF this kind. IT. as yol
assert, the Pacific railroad companies hav,
been false TO their obligations To the Gov
ornmcnt (which do not dcny), that Is
question for the courts. Ms the Legislative
department Of the Government Is not uu
thoriZed 10 iuilict penalties. | do no
think IL desirable that the Govcrnmen
should become the owner of such rail
roads, and as the Government lien Is but
second mortgage, II II Is necessary 10 saw
the Government from loss would do witt
the railroads what u good business maj
would do with his creditors. II the com
pnnies arc able topay,l see no good rcasoi
Tor the extension OF time. II, on the con
trnry, tho Government cannot collect IL
debit without paying on the prior mort
gage and thus become the owner of tn
road, NJ loss. | would extend the time
provided, additional security for the deb
10 given by the railroad companies, Their
seems to be good deal OF opposition 4
such extension. This | think grows on
OF the misconduct Of the parties who con.
structcd the roads, as well as on nccouii
OF the course pursued by these companic
In their dealings with the people and tn
Government subsequent to It's constrGc
ton, which has not becn liberal and Il
many cases very unfair But In consider
Ing the question how can the Goyornmcn
best serve It's own interest aud that Of In
people who patroni1e these roads, thei
former misconduct ought not TO be nilowei
10 stand Ia the way OF n settlement that !
beneficial 10 the Government and pcopl
nlikc. II the Government takes posses
sion OF these roads NJ the maturity o
Their mortgages amounting to the sum o
about sjO,vpOOoO, nnd then the Govern
mont must either sell the roads or oper
ate them. II sold, Il ls said they will no
bring money enough to pay oil tho cntir
claim OF the Government. While In
Government snstains the relations II nny
does 10 those road-, " is within the powo
OF the Govcrnmont to sec that the ron1
are managed aud operated 10 serve III
purposes for which thcY We're built, thu
Is, Tor transcontincntnl commerce aud Il
The interest OF tho communities thruupl
which they pas,. Some advantage wou.t
be lost by allowing these roada 10 lnsa Int
the control of eNiNiing Lines, US the
Ipubtlrss wtll N sull thua dg.traVl,,