The Camden journal. [volume] (Camden, S.C.) 1866-1891, 1890-07-10

i'i,t. ,r,,Irl.IllirIii Iurii"r, currency ~ ihc
banker at ,wr cent and EayS 'ic banker !
Der cent un his bonds dcpf'si:c't 20 S'cdr'
lie !,rln Of said currency. Int:s Tie bank
! - rrriiZcsa Il g.in "f ; per Gent. ihc lm'iA-
or .hcn loans thiS currency - l:ic ,W'c"':'-
,or ii = uer rcut. w'',ch ad'ir'' /" i;i' %%lh
Of , Der cent. . yes him an income from "is
; / prl cent uon.iS. OF II per ce'i I'll pr VIZ
uc. By lcpoSiling $l,O'h',m0 Il hnhu'
wi,hi.,r nurrrnmcut. ii VII u2r'S't "ltli
,u,h ,iep,s;iors 81, lUb.0'D IN !':"iHi man
ry, without requiring any inicf@:t what
ever. Large nnuumls Hre deposited III
rluhs tu the credit Of Gi;:ur>l'I- o."c@:H'
Gplu which 40 Interest l.; p"ij y. 'E'"'
IND similar methods The bana. on ie':Ha-
* HSta, 1899 !!cl! *;2u::, -! ,Si'i ol ine i"o
lirs money upon which hey r:i'i fl:;,t'
tp9 Interest ur taE. as fc,."wS: pa Tl:,'
IlJ2jl thrt Ie.id Oh" per trl'I. and on 9'n'
al. .25l they IaId no Interest FOR lEe
ns. 81 This vas; sum they received $id,?"H,
;I;; or Il profit Of sl4.H5l6i2. The man
uf,r,urcrs ire p.ntlcIcd by Il tar!t "tich
mrry.uls f.rcisn competition, and enables
thrm To add tan average cfy II per ccnt. 10
III. price OF their products. Rnl:tohdS re-
nlatc their ra,es by charging all 'he com
r,m;itirs will betr without reducing irodac
t;nu pulutops That sell Tor $50 per car
io.I .,t p;.2c of growth, are shipped fast
,t y frrirhI charge uf Sl0.;-t:ftc"i dollars
moro lh,,n the farmer receives ih"t prouil-
rus then. Capitalists secure "AGihi'In.i
from taxution hI unjns: laws. In 1856!
congress levied Il tax oil .it incomes III 'E
cpss Of $500. UnGc: this lHw lie sam IL
SKIS yDJ. T;3;S was collected. Ar;houSa 40
cIuSS favored The reIca ol tins il" rNr'''
the capilaliSts who paid the tax. yrs they
hsd iullaencc caO.iSn with Uu1 Ia" lilaHcrS
10 nave il repealed III lS'l.
so mrmbrr Gf Congress sMct ne relc9i
IF This in ONE lax has mad the tcncrily
r, ,nunSe fine enactment Of auo!hrr until
I'm. nr,,srn, wear wncu Mr. Rowland, OF y.
e. introduced a bill 10 levy lax Of PER
r,rt on nil incomes over 800. o and uAdcr
$40 too: + prr cent Oh incomes over S!o,-
,vu, and unddr so, 900; from $:3,WO 10
S5G, ,OLO, E per ceut; from so, otto Sl0o,
UGn \ uer cent: uvcl SiGJ.GOU. I'D per rren!.
This is The result oi Il change Ill rli!'li: sch
timcnt, caused by the teachings OF ne farm
srs organization, whose principles demand
that wealth he taxed rs we'll liz lie ponr IiI'
borcr that produces it. Twenty five thou
sand persons Eow possess mJrc than lhil
the wealth Of the United States. More man
one half Of these persons arc ml!iiohalreS'
The greater part OF their properly consists
of nuh.ntcrcsJ bearing securities, AND COLI
tribute but little 10 the support oi l!!e gov
ern!nent. Many Of t;icSr persons lholaina
non-.axable property are manufacturers,
aud reap the ncnct! Of tariff taxes that are
uaid by The farmers and other cnii$uMrrS:
The farmer is taxed upon the market va!ue
of his freehold. BonuholGers and capital
lists. worth untold millions, are taxed Oh
the figures they return for &Sscssm, ht..
| heir securities are invisiGie 10 The tax Oil
Ger. Senator Stanford, who IS Suli to bC
worth SlU0,OGJ,OL0., pays taxes on ohiy
S63.lTJ personal property. hlr. Crocker,
inS nartncr. worth ile:.r.y as much. is assess
rd for :;G4. COZ. of which Si5, 600 is for fur,
niture. ". II. Vanderbilt, worth S2o0,,,
uuV ,uuO. was assessed on lis houses anu
household goods only. Tie Farmers own
but one fourth Of the property, yet they
r,ay three iourths OF Tie taxes u tie United
states.
TIE government has given the tanks and
the bondholders control Of the currency hy
exchanging legal tender notrs for bonds
CONTRACTING and Limiting the volume OF ic.
ral tenders in Circulation; and by making
government bonds i basis Tor the iss ic ol
currency. AS the basis If issue IS reduced
by the payment and re''re%ent Of lSt
bonds, a contraction Of the currency viii
inevitably f How. 4 contraction oi 'hc
currency in circulation. imporcr!shes the
producers by reducing tho price Of then
,.roducl, without, reducing the amount o!
labor expended in the production thereof.
All class legislation is IL the interest o'
The capitalists, q, the expense OF farmers
ana other producers of wealth. 1t is our
duty TO work for the repeal OF such laws,
and IN no way can we dn so more ehec'-
lively tnan by requiring candidates "
pledge their assistance in the good WORK
unl by voting for those crly Who endorse
our demands.
AGRICULTURAL DEPRESSION.
In 1850 the farmers owned two thirds
of the wealth Of the United States, now
they own less than a OF said wealth.
Tie average yearly increase III the
value OF iarluS from 1880 to 1861 was
luI, per cent. From 1869 to 1880 the
increase in value was Only 2H per cent.
Der Mmum. This reduction LOok piace
IN a period Of mcXamplcd prosperity
in Tie financial, commercial and lEanu-
featuring enterprises OF the country.
The RAPID growth Of cities, towns and
Villages, and the expansion CT car rail-
way system. partial laws prevented an
equitable distribution OF wealth, and rs
tue favored classes prospered. the
classes Disseminated against became
depressed.
In recent address delivered by Hon.
L. f. Livingstone, of Georgia, he stated
that in The last ten years property OF
the towns and cities of that state had
increased in value S,;O,WjWU while
in the agricultural districts ii had de-
creased S50UWuD. In ;lll the States
farm mortgages are increasing while
farm values are decreasing. Yet The
farmers ratio of taxes increases us their
ability to pay dimrnisleS. The Presi-
dent of the National Alliance informs
us that the farmers iii 1850 pu!d 81 per
cent. of the taxes Of tiic country, yet
they owned but one third OF the proper
". This shows that the burden OF TAX
alton is hot equally distributed. y Sc
rious aspect OF orr condition is the de-
crease ia the Number of small farms, anu
tie increase i'll the number OF large ONES.
i majority Of the SUi's Of l:lldHn!dcrs
are becoming tenants, and the Gcprcs-
sion of agriculture is making tenants Of
former proprirtOrs. in iS,J we had
llj.013 more small farms iun,trr 30
acrcS) than we had III 1889 although our
population had increased ~ l"r cent.
Capitalists and merchants ar. rapidly
absorbing our farms III d m;ihing ten
ants OF their former OWn2rB. Twenty
AnnrS nrn iiNr-i.iHlltH ni 1hn nnnnn