The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1891-12-22

1 &c - PC&A VI 80
| since the sale of land will always bring
| either or both gold and silver. The
| farmer is FESTIVE because the credit OF
| his government is based only upon
| gold and silver, while he furnishes the
primary and ultimate security lot ONLY
! for the owner Of these metals, bat tor
| the entire government credit.
The ~cuItivatOr Of the soil has been
| the bond slave Of the metal money shy
locks during all the past ages, but
A REVOLUTION IN FINANCE
is at hand which will deliver the farm
ers and OthcriaD0rer from the bondage
! Of the centuries.
The writer is aware that the views
herein presented look to revolution III
the tinancjalsystem of the country, ana
he believes that the farmers generally
are beginning to see that IL must come,
or else they are doomed to endure a
financial bondage more CALLING even
than the f-uial yasSalage OF thei Iiidtie
ages.
| It will be q long and fierce one, but a
glorious victory viii be achieved II
they can only be kept aligned upon the
single issue Of a money Of the people,
| by the people and for the people.
The great upheaval throughout the
country indicates q determination, on
the part Of the farmers, never before
| witnessed IN all our past history, and
this celn to be the opportunity to
combine their ballots and influence
with that political party which prom
| iSas the most speedy accomplishment
of their aims, tO-Wit: the abolition OF
financial slavery.
! HOW IT IS TO BE DONE.
/ Let the government pay its debts
like the individual citizen, and with
TINS object in view. as fast as it "a be
done, exchange its present Indebtedness
for 2 per cent. intercOnvertiole bonds,
with interest payable in gold and SILVER
coin.
The note or bond Of the individual
citizen is va liable because It can be eX
changed readily for money. The note
or b0Gd Of the government IS only the
obligation of the citizen in the aggre
pate and should beasreadliv exchange
able for money. The practice Of isSu
ing bonds payable It distant future
dute8-ten, twenty and thirty years
is only q device Of the money sharks to
keep the farmers and other lthOrers
constantly harassed up to the usury
wagon solely for Their benefit,
The ready exchange OF 2 per cent.
int2rcOnvertlblC government bOn1s, for
money, at all times, would forever put
an end to money panlcs, or crises, as
has already been proven by the inter
cOntrOvertlble scheme of Secretary
Chase during the civil war, and also by
the action of the Late Secretary Win
dom in the purchase Of millions of
bonds, thus flooding the money market,
which completely thrOttled the late
money crises.
And soft can be plainly eenthata amin
tercOnvertlble bond Indebtedness OF the
government would place the control Of
money entirely inthe hands of the PEG
pie. When money was needed
for the handling of products, such
bonds would be exchanged at the
treasury for money III the shape of
gold certificates, silver certificates Or
land certificates, and when less money
was needed, these money certificates
would again be exchanged at the treas
ury, or its repositories, for 2 per cent.
coin Understanding, bonds. The ebb
and flow of money would then be as
regular as the tides, for the people
themselves would control the volume
of money needful for their exchanges.
2. Let the government also issue
money certificates based upon the evi-
dence of land titles, at the rate of one !
half the tax value of land, upon the APP
plIcatlOn OF It's OWnerS, who shall exc
cute bonds to the treasurer, payable in
from three to five years, bearing 2 per
cent interest. Such bonds to be paid
in either land, gold OF silver certifi-
Gates, and if not paid when due such
lands to become the property of the
government and subject to sale or dis |
posed of as public lands.
These land certificates should be full
legal tender for the payment of all
debts, possessing equal power with the
gold or silver certificate, being the
equal and associate of both.
These changes III the financial sys-I
tenn would give the ~fexibility and diff
fusion of money SO much desired in a
circulating medium, and would, by
deprlving money Of its present unjust
and enormous power to accumulate |
value by interest, enforce en- equitable
division of the profits of labor.
Banking would then BE- free, as all
other trades, or occupations, and could
be engaged IN by any citizen who pos |
se8sed money, without letO or h~indrance, |
free from the aid or interference of |
government. The United States would
then secure it's financial independence,
as certainly and as surely, as it did it's
political independence more than q
hundred years ago We would then
realize a condition of finance, 50 aptly |
and so fOrcibly expressed by one of the
most eminent of southern statesmen,
that the currency Of a country is to
the community what the blood is to
the human system"
OBJECTIONS BY THE DIRECTORS.
1t will be said that these proposed
changes are unconstitutional, Wis |
iOnary, " prompted by demagOgues to |