Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1890-02-15
FARMING AND FINANCE.
AN ADDRESS FARMERS INSTITUTE BY
e. oIDsBoRoUGH.

tress not only among but among the gener
ally whose welfare closely associated with the farmers
prosperity that national decay must inevitably follow such
fragrant disregard Of the rights of important branch OF
our industrial economy. propose to say something
about of the other that to affect the farm
ers prosperity especially those imposed upon him by our
monetary institutions and laws and aude to possible
relief although his right NEEDLE in such matters
has been fully admitted He not supposed to be
fnancier any than he DOCTOR but expected
take his medicine without why or wherefore like little
man, - though it funeral a sheriffs sale.
When the Egyptian Monarch nearly 800 years
manded his taskmasters shall give the people
make brick heretofore let them and gather
for themselves and the tale of bricks which they did
make heretofore. shall lay upon them shall not dmin
sh aught thereof for they be idle" he only repeating
what had been custom before and what despo have ever
since pracced and will continue hereafter practice unless
the condition that wrongs possible be altered 1t
the standard of intelligence and manhood the
pie that is 10 decide this question So long they sub
the caolery and Establishments of political demagog
ism and carried by party captrap there no
good be hoped for expected do not question the
priety of belonging to political organization whose aim is
to promote the Vows and interests of s members and the
public good but have heard it said that the time will never
come when men, especially farmers will subordinate party
prejudice to self interest and according to their
victions.
Experience civilized uncvilzed in all his
propensities naturally cruel and selfish the bible puts
it deceitfu above all things and desperately wicked and
the Egyptian fallaheen of to-day better oil und
the of the English and French bondhoders
than the Hebrews under Pharoah. The torture may
be little refined suit 10Th century ideas hut it is
bricks they want without furnishing the Straw and
far greater than Thomes stands ready with bloody hand
enforce the decree shown the last Egyptian
beion This bondage after having ensaved Egypt
India Turkey and other less enlightened countries is
wagng the greatest CT all its battles effort slow and
nsidous like the sappng of fortress spread its pail of
death over the free institutions of bright land in
the subjugaon of the American Continents their unhoy
scheme of financial spoaon and thus complete the ensaye
of the world The Romans never suffered before as
they did after having been a republic. When has
given himself that political frame mind that
his party do wrong and his allegiance greater to it
than his duty toward his family all else then indeed he
has sold his birth right for of pottage and become
slave to the worst of task-masters.
Next to excessive valuation and taxation imposed
upon the farmer. those resulting from the injustice of
usury laws and monetary system greatest wrongs he
suffers with all values depressed destroyed by taxation
oftens amounts to the rates of interest
Indebtedness continue mmutably fixed by law at rate out
rageouy dSproportoned to all income from investments
and in such farm investments and in such farm
property that yields less than half of per cent it be-
merely question of time when the loans shall absorb
security for the deeper Indebtedness becomes heavier
will be the exactions according to very simple rule in
arithmetic in geometcal progression and the borrower be-
comes bankrupt.
Suppose two brothers. and B. equally well off invest
900 in farm which will of represent that
of accumulated labor exchanged for land takes the deed
for the whole while takes mortgage for onehaf of
amount, The farm yields but per net profits while
BIS mortgage calls by law of cent You will readily
that Mr. will get all the profits of the entire
while who assumed all risks and responsibility will receive
nothing by the transaction.
Suppose another A, poor frendless with
steals appropriaes loaf of bread to keep HIM
self and family from starving and apprehended The law
sends him to Jail penitentiary upon cumulative
dictmens the court proper often for long
and good people endorse because the decaogue thou
shalt not steal but if B. the papershavng Shylock
turned for skinnng poor farmer his family
out of house and home the only penalty enforced res
ton the defrauded party of the overcharge
only provided the complaint be laid within six months
after the ofense he committed while the petty thief
dictable for years after his transgresson
The bondhoders loaned the Government 1875 in
paper money the value in gold of which 66
cents making the total gold value of their loans about
1889. In the ten Immediately following the
opening of the they received in interest their
the of 1911 S7 S28 in gold addition
to the interest above stated 1923 1856 of the principal
making the total payment 81 39J 72 564 with
in value Of their bonds in gold than they had original
lent the and the bonds which they
still exceed in value that of their original loan and this
not include the profits derived from their
sve privileges under the National Banking Act.
Now you hear great deal of talk about the money
being paid soldiers in pensions but in
alone the profits the bondhoders reached double
that has been paid pensioners the IS
which have elapsed since the began.
When consider the extent of territorial domain ana
the sparsey settled sections where exchanges must
arily be SLOW you will understand what inconvenience
loss result from this scarcity money currency
and the substitution of individual obligations of Indebtedness
instead.
The remedy for this condition of affairs is in
laws controlling the currency and banking system now in
force The National Government alone should money
and regulate the value thereof" and would add supply
the necessary conduct business upon cash
This only be accomplished by free coinage silver
Without this there be relief from the depression
periodically wraps land in financial gloom panic at
the within and caprice of professional fortuna wreckers
sport with the business interests of people and mock
their calamity
The people of New Jersey and other have
endsavored induce their legislatures reduce
legal rates of interest but believe far without success
the of cities and other have baed
all such efforts An American statesman said upon
that Cities where the ulcers whence oozed all the foul
humors of the body polite" This in politics. least
Cities direct and control legislation. 1t in cities find
those that follow and disappointment
fe Supendous wealth side by side with grinding poverty
end abec wretchedness Luxury and Misery such those
in rural life scarcely realize represented in egsl
tive halls by delegates of shrewdness trained by po
cal experience in ward practices unknown the unsophs
Gated delegate from the country These entertain
sentiments draw hard lines and have nothing in
with the rural members discover his weakness and
win him from the pet hobbies of his constituency by lavish
generosity he is unaccusomed the occasion requires
it. lure him with temptations such he has before
encountered into the support of other than
that already exist anagonsc to the purpose and