The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1891-10-20
THE GREAT MONEY POWER.

of the people was transferred to them
with the power to fix the volume of
money and rates of interest. They so
manage that their rates of interest is
twice as great as the earnings of the
wealth-prOducerS In all their in
vestments they run no risks,
while evey industry takes risks.
So situated they command the whole
field of industry. They have no in
terest in production, as they have a
better thing created by law. Their
| whole interest consists in increasing
the purchasing power Of their incomes
and piling up evidences of indebted,
ness against the Industrial class. 1t IS
their study now to secure additional
| legislation that will increase their ad
vantage over the wealth-prOducers
All their incomes are re loaned on first,
class real estate and each year sees the
wealth-prOducers deeper in debt to
them. This artificial money power,
outside of the channels of trade, has
| piled up evidences of Indebtedness
against the wealth producers seven
times greater than the money in circu
lation. Practically, they own all the
money in the United States, and have
a mortgage six dollars deep on every
dollar Reader. this debt has been all
paid up in the last twenty five years
and it all comes from loaning their
debts and making the industrial class
! pay eXtOrtiOnate rents.
This farce of a financial system is
rapidly transferring the wealth of the
country into their hands. Here is ali
octopus, created by your legislators.
that is spunging up the wealth Of the
country faster than labor can pro
| duce it.
A penSiOned aristOcracy cannot eX-
ist in this country, so the national bank
| system was created as a substitute.
The ruling class of England and the
money power of Europe, during the
civil war, decided that negro slavery
must die, and they would enslave
white and black by getting control of
the circulating medium. Hundreds
! of millions are drawn out Of this cOun-
try, and Europe dictates the price of
! the farmers produce.
| The exception clause in the green
back originated by this devilfsh,
| doubled the cost of the war by enact
ing a demand for their gold on which
| they had a corner. African slavery
was abolished, but white and black
were chained to the jugernaut of the
money power. How well they have
succeeded all that is necessary is to
! look ct the mountain of debt heapL.4I =
upon the wealth producers.
| This mOneyed devil has all the civ
| ilized world in its clutches. \ beauti-
| full system indeed that has the wealth
producers of this country in debt to
the nOn-wealth producers ten billion
dollars and the Industries Of the civil
lied world in their debt one hundred
and fifty billion dollars LincOln's
warning, in their infancy, went un-
needed twenty-five years, until now
this power is mighty giant with it's
| it's fingers on the throat of every indus
try. This money power owns or con-
trolls the leading papers Of both parties.
They are the power behind the throne,
and the politicians have not a soul they
can call their own. This power has
the farmers emasculated. They can
not fix price on anything they have
to sell, and they look on and see the
spectators fix price on their pro
duce. There is but one remedy-the
farmers must speedily occupy the want
age ground where they can fix a living
price on all they have to sell This is
the issue clean cut made by the farm
ers, and all parties ignoring this must
be treated as deadly enemies and be
wiped from the face of the country.
The Republican party is irevoca,
bly, committed to the financial
system that enslaves the indus
trial class and endorses the pro
tective tariff to drown the peoples
cries for relief. The Democratic lead
ers, at the instigatiOn of the money
power and solOns, are doing their best
to deceive the people with that huge
fraud tariff reform. The Democratic
| leaders know that the tariff is 40 per
cent higher than it was twenty five
years ago, and the people can buy all
mannfacturered articles so per cent.
cheaper than they could twenty five
years ago. With this fact standing
out in bold relief they have the hardi-
hood to go before the people and de
clare that it is q high protective tariff
that is at the bottom of their woes.
The leaders of both parties know they
are practicing fraud upon the people.
| Politician" Mr.. Farmer, the
price of your cotton, corn and wheat
is fixed in Liverpool, England, while
everything in the manufactured line
you consume is fixed in this country.
The remedy for your woe is to repeal
the rObber tariff and buy where you
sell on the cheapest market"
Farmer.-Mr. Politician, if we keep
on selling cheaper and buying cheaper
won't this be squeezing more of the
necessaries and luXuries into the cred
| itOr class fixed incOmeS?" IF we buy
two hundred millions of foreigners
that we have bought at home, won't
| that bring about contraction of the
volume of money and shrinkage of
values and make our second state
worse than the first? We have not in
actual circulation eight hundred mil
lions. Your advice would reduce the
circulation 20 per cent and bring
about a shrinkage of twelve billion