Daily Republican. [volume] ([Wilmington, Del.]) 1874-1890, 1890-04-18
OUR FINANCIAL ERROR.



Oas Of the leading qussteas Of he day
10, What 10 the eAuso Of The dspEeasioa
Of the agricultural Interests Of this couu.
w? This Qusattoa b one that = BOW
claiming the attention Of mot only tAs
several causse, bus one Of the principal
ones u our financial system. After The
close Of the war Of ths rebellion our asri !.
cultural interests were among the most
prosperous Of our industries. But q
soon - our Congress began TO tinker Of
our finances the agricultural interests
began To suffer. Many Of our farmers
had contracted debts In different forms,
under the then sxisting financial system,
and before thoee debts were cancelled our
financial system was changed. - some Of
our statesmen said, to increase the pur.
chasing power Of money, for tho bsneat
Of those who had fixed incomes. Now.
how can you increase the purchasing
power Of money except BY decreasing the
value Of the articles to be purchased
And that Wa accomplished BY contrsc-
ton Of the circulating medium (money }
over one-hall, and - consequence ali
kinds Of articles Of trade decreased cor
resp0ndingly; that ID, onc-half.
The debts that farmers had contracted
l WIN W1o8b ~ YkkVV Wi pubu6l u8Q W Ue
paid with wheat ct 100 or less. You
see where the farmer had given q mort.
gage on his farm for $1,000, he had
agreed to raise and deliver 500 bushels OF
wheat, but the government, BY altering
our system Of finance, compelled him to
raise aud deliver 1000 bushels OF wheat,
and other products 10 proportion. 1t ID
| plain to be seen that dear money makes
cheap labor aud labor products, and by
limiting the supply you increase the de-
nand, aud thereby increase the purchas-
ing power OF the dollar OF those with liked
incones. Ard why, may We ask, was
this done In Q Republican Government ?
For the answer, will say that we have
always elected the retained attorneys Of
corporations to conduct the affairs o.
government, until our Congress Is now
only . council Of lawyers. Is 1t abso
lutsly necessary to elect lawyers to do GU
legislating for us l think not, NJ com
mon law, that lawyers talk 80 mucl
about. 70 only common senss reduced :
statute law, and any farmer or inerchan
or mechanic could do It equally a. wei
and more In the interest Of the wsaltl
producers.
Another great crime against tn
wealth producers was, after making th
debts payable In gold and silver, an,
finding that our silver mines we're u
much more productive than they ex
pected, and that the volume of circulat
ing medium would largely increase, an,
thereby Lessen the purchasing power o
their dollar, the council of lawyers theI
demonetiEed the silver money, aud thor
they inflicted . lasting evil upon oul
farmerA By doing so we. with Ger
many, dumped our silver that had beer
chsApcned Into the lap of England
which her statesmen were not long II
taking the advantage OF. and coined /,
and sent II to her India and African
and Other posssssions, and put them e
raising bread stuffs until they now Cal
compete with Ne In the markets Of ths
world, and the consequence 10, that ;h .
ket Tor his products that he had before,
snd he never eau hope to retreive thai
loss. Now one way to help the wealth
producers 10 to give US free coinage OF
then add suficiency Of treasury
notes (GreenbAcks) to make the
per capita about sixty dollars, and for
the government to issue all the money
direct TO The people, at the same amount
OF interest that 1t now issues to the
banks, which 10 per cent, and then
comes In competition with the people 10
borrowing II back ct from TO IL per
cent, aud also keep It stable so that II
cannot DO contracted and expanded at the
diotatiou Of usurers, but increased with
the increase Of population; what is the
use OF having men out IN the mountains
mining out the silver, while at the Same
time we have men in Warrington build
ing vaults sixteen feet under ground to
hoard 1t Int 1t had a. we'll be still In
the mountain for all the use II 10 to the
people. Give u plenty Of the silver
aud slso plenty Of the greeubsck dollars
40 they are the Sighting dollars, for when
the war came on gold aud silver sneaked
away, but the greenhack went with thu
soldier aud stay ed until the last shot wa
fred. JAS B. WEIGH.