The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1890-07-15

Oub UAOS ivy
s st us in preparing a plan through
which we might be able to perpetuate
our great republic. We agreed, so
all hands (nearly every one old sol
diers) set to work on that plan, the
Sub Tr-asury system was the outcome.
which is the only plan proposed by
any one since the war looking to a re-
turn to pure democratic government.
Tais is " Why uader the provisions
of this Sub Treasury bill every citizen
in any part of the United States en-
gagged in any laudable a%vocation Will
receive as many and as rich benefits
as the farmers, for every intelligent
person knows that prosperity or beg
gary must and will be filtered through
productive labor to all our people,
consequently the Sub-Treasury bill
cannot be c~ontorted to mean class
legislation, or the inauguration of pa
ternal government, but on the con-
trary it will simply inaugurate demo
cratic government. Col. Mills says
" the tariff is the cause or all the woes
OF which the farmer complains"
AS for myself l believe any tariff
collected over and above the actual
expenses of an economic ally admins
tered government is "robbery" and
have and will do all in my power to
put ours in that shape. Yet | cannot
wholly agree with Col. Mills in this
matter and will prove it by his own
statements.
In 1881 we exported seven hundred
and thirty million dollars worth of
farm products, while in 1889 we ex.
ported only five hundred and thirty
two million dollars worth. Wheat in
1881 was worth one dollar and nine
teen cents per bushel, while in 1889
it was worth 70 cents. Hence in
1881 it took about six hundred and
thirteen million bushels to bring the
seven hundred and thirty million dol,
lars, while it took six hundred and
seventy million bushels in 1889 to
bring five hundred and thirty-two
million dollars. Thus we see we ex.
ported ffty-seven million bushels more
wheat in 1889 than we did in 1881
and that it brought one hundred and
ninety eight million dollars less money.
The cause of this great falling off in
exports was in the price of the pro-
duct. The interesting question just
here S, what caused the decline in
price ? Spectators and their allies
say it is overproduction. Let US see
if this is So In 1881 we produced
bushels of wheat per capita; in
1889 we produced y bushels per
This completely upsets the
overproduction theory.
Now N 1881 we had ten dollars
and twenty three cents per capita in
circulation, while in 1889 we had six
dollars and ten cents per capita in cir
culation. Here and here only can the
keen observer find the prime cause of
this great depression in prices. Il
usei wheat only in this calculation so
as to simplify because all other farm
products can safely be reckoned at
relative prices All economists agree
that the price of all farm produce is
governed by the relative amount of
money in circulation. The above
statement fully confirms it. Hence
the decrease in the circulation had
more to do in depressing prices than
the tariff did, yet [ do not deny that
our tariff had something to do with
it, yet | do deny it is now the prime
cause as a clincher on this point. [
state that at this time agriculture is
depressed in all thickly-populated ag-
ricultural countries, In all those
hat have a high tariff or a low tariff,
in monarchies, empires or republics.
In those having a gold standard, a
silver standard or a double standard.
This completely upsets Col. Mills
proposition, Now the question of
questions is, what is the cause of this
universal depression of agriculture in
densely populated agricultural
districts? The answer is that in all
countries the circulating medium is
bottomed on metallic money,
the production OF which for a long
series of years has been nearly uni
form, hence the volume Of money in
circulation is practically infexible.
This feature is disastrous to agricuI.
ture because the farmer secures the
product of a whole years productive
effort practically at one time and con
.sequently demands money for all his
at one time to meet matured
obligations. This creates a demand
for money greatly in excess of the
hence the demand for money
being more pressing than the demand
for products, hence the price of the
product that must be sold submits to
the dictation of the money holder.
This compels the farmer to turn loose
at less than cost OF production, and
is called fuctuation which is the
creature of the Spectator and the de-
ctrOUnr Of the npOCporitv Of +bo forro