The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1891-02-10

must nave gone III eAO POAShoSO :"
splendid set of jewels given to Nine.
Patti when she sang at their opera
house. Presented TO her, if | remem
Der right, by the President himself,
and said to be q more magnificent
gift than from any crowned head.
"Apart from corruption and specu,
lation the money obtained such pro
fusion from Europe during the past
Eve years has been put into useless
1. 6. ornamented rather than useful
buildings" Among these are enum.
Grated government Offices, monuments,
opera houses, theatres, etc. But the
finest of all was of course the Temple
of the God-money. Here Is a Gle
scription of it:
"The annual report of the Buenos
Ayres Stock Exchange committee for
the year 1888 is an extraordinary
document. The superficial area of the
buildings in which transactions have
been so and feverish for
years past is something beyond o
ception, even in London. The en-
larged and complete building is repre-,
sented as occupying 500 square yards
that is to say, if it be a square
leach side of it is u yards long, and
the whole area would cover a two acre
field and give sufficient room for a
game of cricket. The number of men,
oers appeared as 1866 in the year in
question. The figure is half as many
again as the members Of the london
Stock Exchange"
No need to ask where the money
went with such a flock of cormorsnts
around. How much is it likely the
farmers got of it2 l quote again:
"Of the immense culivable area in.
Guided in the Argentine Republic, not
l per cent. is under tillage, and the
money, which might have gone to
draining and fencing lands, TO improv
Ing farms and to developing useful or
reproductive works, has been 100 large
ly sunk in ornamental bricks and
mortar"
No wonder the enraged people of
Argentina broke into open revolt, and
that President CeIman barely escaped
with his life. No such result is likely
to follow the legitimate demands Of
the American farmers. The fund
they claim will under their own care,
full economical control be used in
"draining and fencing lands" in i'm
proving their farms and in the pro-
duction of real wealth.
It would occupy too much space to
show the purse of reckless specula
ton following the influx of all this
borrowed money, of the dishonesty
and stock jobbing and of the fast and
furious rush down hill to rack and
ru n, bring with it, l am delighted to
find, the downfall of the house of Bar.
ing Bros, the prime mover and chief
cause of the wreck of this fine r.
public and all this misery, this ruin of
families, with the weary prospect of
the up hill work of an industrious PEG
pie having to toll for years bearing
the heavy burden of debt and taxation
brought on them chiefly TO satisfy the
vulgar ambition Of one man. That
the head of the house of Barring might
be created a peer, with the title of
Lord Revelstock, that he might outvie
all his associates in luxury and mag
n~i6cence, and be distinguished as one
Of the chosen companions of a fat,
greedy, debaUched Prince.
Do the farmers of America propose
to sell themselves or their country to
any money kings for any amount of
gold? If they do they certainly will
meet, and will deserve to meet the fate
of the Argentines. But l know them
better. Their Sub Treasury bill is not
the Argentine system. The promoters
are honest workers and wealth pro
ducers and not financial sharks. Their
motives are different, the means pro
posed are different, and Ghay need
have no fear if they exercise due de
liberation and wisdom that they are at
all likely to meet with a similar fa.e.
| may also say that when both sides
OF the case ara fairly presented, no
one, having any regard for truth, can
all N or reafirm that the American
farmers SdOTreasury bill and the
Argentine scheme are alike either in
"essence" or in fact.
l before expressed my delight at
the fall of the house of Barring, but in
this | was a little "too previ ous. "
The house of Barring will not fall, the
Bank of England comes to it's aid and
is "nursing " its securities, and all the
other banks are helping to prop it up.
No matter how many poor Argentine
families are ruined, the great banking
interest must be upheld. The whole
subject of Argentine 6nAnciering, it's
speculasions, borro wing, lending and
squsnderings deserve our closest at
tention as it presents a most interest.