The morning call., 1891-04-16
SOUTH And WEST.
Causes Of the Agricultural De-
preston.
Opinions From Prominent Men Read at the
Commercial Congress.
Legislative Treatment OF the Money QueS-
tlOn-Free Coinage Of Silver Dis
euSSed-Cattle Diseases.
Special to THE MORNING CALI.

+. j. SkiH OF Denver read paper on
" Population and Raw Material" he said:
" Population and raw material in one section
must have trading treaty with the popula-
| tiOn and raw material of some other section
of the country. Hence arose the Significance
| of commercial reciprocity between the
States south and the States and Territories
west. Production and the accumulation of
surplus was the controlling power in COM
merce. So long as man lives in Isolated
communities, each laboring to supply only
its own necessities, there could be no COM
merce. All that portion of the United States
lying west of the Mississippi River gathers
half continent, not only in its area, but in
its resources of wealth and capabilities of
| maintaining large population Within this
area were contained two-thirds of the natu-
raj resources Of the Union. 1t was
also capable of maintaining popula-
tion propOrtionate to its area. No
one would question the ability of
the Western or Southern States to
support as large a number OF people TO the
square mile as now live in Pennsylvania, with
with 1145 persons 10 the square mile All In
all, the figures confirm the Truth OF the state
ment often made that tile United States. in its
area and material resources, is capable OF malu-
taInlng 900, ,o0o, 600 of people,"
& uests OF tie congress were then invited to
make addresses.
INsUFFICIENCY OF MARKETS.
Ex-Governor George w. Click OF Kansas said
the subject Of the greatest interest 10 the West
ern tanner The great agricultural denres-
sion. The greatest cause OF ihlS depression was
lie nSufficitDcy oil markets. The remedy was
aFffTn Tnr 4 a nklti af IA mn
surplus. Blaiues reciprocity schemes aud Sec
retary Rusk's efforts In extending the markets
for livestock were partial remedies for the pres
ent depression.
Speaker Elder OF the Kansas House of Repre-
sentatlves said those who had an imperfect
knowledge of the situation were accustomed 10
lay the blame upon the farmer, but there were
other conditions, and they were nearer the root
OF the evil. One was the imperfect opef alton of
The law Of supply and demand, which, in turn,
was caused by the mercenary consolidation OF
capital by INSCRIPTIONS persons. Such eombt-
nations were trusts, aud they were lie octopus
that had fasteped in It's grasp the farmer who,
while lie most numerous OF all the industrial
classes was, at the same lime, the most helpless
and of all men The most Diisettble--Ile tInsis
we're fanked by speculative boards OF trade aud
Slfops. which lorced false values upon the
people. Ane-lief cause OF the deiiession was
TOO contracted market. The far I.Ier wanted
wider field. They wanted reciprocity. Reel
prociIy was a good thing, and they wanted all
they could get Of ii. Another way of relieving
the situation was by increasing the volume OF
money. Still auotierway was by combination
farmers were now trying the latter method.
DISEASED CATTLE.
DIR. Parsons stated that he was directed by the
Secretary Of the Department OF Agriculture TO
represent that department at this congress- lie
srOke OF the causes OF depression IN agriculture.
One was the loss of foreign markets 10 farmers
because diseased cattle would not be bought.
Tie way 10 regain The market was 10 eradicate
the di, ease. DR.. Parsons explained what the
department is doing in lie way OF quarantine
aud Inspection 10 stamp out diseases among the
live stock.
U. 5. Hall, President OF the Missouri State
Farmers Alliance, was the next speaker. The
greatest cause OF the present depression. he
said, was partisan politics The last national
campaign was fought on the line OF the economic
question The other causes for depression were
high protective tariff, decreased volume Of
money, the raising Of freight and passenger
remedies were low tarifi, an increase in the
volume OF The currency, and the regulation of
railroads SO that they could pay dividends only
on the actual capital invested.
THE CIRCULATING MEDIUM.
A lengthy paper by Edward Atkinson OF Bos-
Ton was read. He said IN part: There is no
question pending on which the future welfare OF
the people OF the country may SO much depend
as upon the legislative treatment of the money
question. What we need in order TO assure sta
bty in our monetary system, to maintain a
unit of value Oh a gold basis and give elasticity
10 the circulating medium, aie three acts, as
follows:
"FIrst, providing for the free coinage Of dollars
OF gold or silver in just the measure that bullion
OF either kind shall lie brought 10 the mnts 10 be
converted into COIN, provided such act is accom-
panied by another; second, 10 repeal all acts OF
legal tender by force OF which farmers, me-
chanics, lab0rers or creditors may be compelled
to accept payments iu silver or gold the
option OF the debtor; third the repeal of acts
relating to banking which prevent the Issue OF
notes payable in coin on demand, at such times
and in such proportions as the business Of The
country may require"
DOUBT IMPAIRs CREDIT.
Mr.. Atkinson deals at length with the question
OF money and credit and referring TO The various
gold silver CONS, cerlltCat6S and Treasury
notes of the United States, says that so long as
these various instruments OF exchange are re-
deemable or convertible into one Kind of dollar,
and that tile best Kind, or so long as they
equal 10 each other in their purchasing power
aud are kept so by being convertible into the
one metal gold or It's equivalent, which Is The
standard of the worlds commerce, credit may be
good and business may be active. Any doubt OF
the quality OF money 1mpa.s credit. Tie free
coinage OF silver dollars, without 4 correspond
ing change in the acts of legal tender, would be
tanpenng with the unit of value and would be
the cause OF grave discredU. The proposal TO
open the mints oil the United States for the free
coinage of silver dollars OF full legal tender,
under our present statutes, Is but proposal TO
collect forced loan from properly, The product
OF wages aud the earnings OF The people OF this
country Tor the benefit and support of the petty
industries of mining and smelling silver ore-a
product of which The annual value Is less than
half that OF the hens eggs which we get every
year from our barn-yards.
COMMERCIAL SUICIDE.
The price In our market of our cotton, corn,
wheat, meat and dairy products are established
by the price that the excess or surplus will re-
celye for export. That price Will be fixed In
terms OF gold. We cannot alter 1t II we would.
and VIC would hot do it IL we could. Every man
engaged In large transactions is aware Of the
loss and dIscredit, or commercial suicide, which
would come from such parting from the ways OF
tue commerce and exchange as would follow an
attempt 10 establish any other standard than a
gold standard In the United States by way OF an
International agreement. Suppose seller OF
cotton pork, ETC., needs gold dollars and has The
right 10 expect them he claims tnem but the
buyer offers 10 pay him In silver dollars under
the legal tender act, which forces the seller to
take such dollars, even II BY free coinage with
out the amendments of the 9ct OF legal tender
they had become worth only 80 cents each, what
term shall we apply TO such transaction? Such
acts by legal tender can only be justified for the
purpose OF collecting forced loan. They are acts
OF war. There Is no danger in coming as many
dollars OF silver or gold as the people want who
may bring their bullion TO tie Mint TO be coined.
The true and only danger Is In the abuse OF
tiust under the act OF legal tender. Let the law
prescribe tne respective uses 10 which the gold
dollar aud silver dollar shall be put in the same
way. Then, and then only, will free coinage be
safe.
lions pl oviding that the mnts be opened to the
fIee coinage of dollars or the multiple Of dollars
Of silver or gold; that tue Legal Tender Act be
SO amended us TO provide that in all contracts or
arrangements In which the single word dollar"
Is expressed the dollar implied by that agree
ment shall be dollar made OF gold, or the
equivalent thereof; that the purchase OF silver
for coinage into dollars at the cost of the Gov
ernment should cease.
SENATOR STEWARDS LETTER.
Senator s ,ewart, In his letter, says he Is In full
sympathy with the Western States Commercial
Congress, and realized The necessity for the
united action OF the West and South TO resis. the
absorbing avarice of The gold cOntractions Of the
commercial centers of Europe and the United
States. II was admitted that enterprise must
languish, business be curtaed, and prog
ress and DEVELOPMENT stayed by adherence
TO gold monometallsm. But such was
the policy dictated TO our Government
BY the money changers. Silver had been