The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1891-11-24

pay private debts. AS these certificates
would have entered into commerce
and contracted private debts in every
business avenue, 1t Is easy to see the
hold this artificial class has upon the
thrOats of our legislators. Ehis recon-
mendatiOn was brought by the infu
ence of a small minority insignificant
in numbers, but hSlding the ballance
of power between the two pOlitica
parties is invincible. If this minority
was organized into an independent
political party, it would not make a
ripple on the body polite. They are
too astute to commit this blunder. The
titan battle of civilization is to be fought
between this class and the people. The
creditor class has billions Of dollars of
their promises to pay loaned 10 the in
dustrial class. These promises TO pay
did not cost them more than one fourth
Of one per cent. to one per cent
Through this hellish system Of loan
ing their credit, they have wealth pro
ducers in debt 10 them one hundred
and fifty billion dollars throughout the
civilized world, and this debt Is dOubl-
ing every twenty to twenty five years
This is more than twice the value Of
all the assessed wealth of the United
State in 1890. This class did not pro
duce one dollar Of this immense debt
1t was all piled up KY loanirg out their
credit.
The industrial classes Of the United
States are thinking, thinking as they
never did before. They are rapidly
coming to the conclusion that if this
creditor class could become 50 I'M
mensely rich by loaning their credit to
the industrial classes, they too could
become rich by issuing their credit
making it a legal tender and put it into
circulation by paying Il portion of the
expenses of the government, bearing
no interest bearing notes to suck the
money out of the channels of trade
The industrial class are determined to
relieve themselves of this immense
burden. They know the ten billions,
with the immense interest, could have
been secured to the people.
This creditor class Is a dfOne III the
bee hive of industry. It is a huge
leach sucking the life blood out Of the
industrial class. 1t is the deadly foe
of every industry. The whole prOduc
ing class and middlemen must be
united against them. This creditor
class must be destroyed, root and
branch, ere our industries can flourish.
Every industry is vitally interested in
its destruction and the establishment
of financial system that will relieve
them from paying tribute. Remove
this shackle from the hand of industry
and this mighty giant will bound for
ward i'll the industrial race producing
double the amount in a decade to be
distributed among the wealth pro
duceTs or employed III the developing
our LATENT resources.
CONSTITUTIONALITY OF THE LEGAL TEN
DER CLAUSE.
Previous to the decision of the SD
preme Court settling the constitution
ality of the legal tender clause in the
United States notes, the self-cOnstitu
tuted constitutional lawyers declared
the clause to be unconstitutional
When they made this declaration
they looked wise as owls. Their decla-
ration was intended to be received as
final. We are the expOunders of the
Constitution. When Sir Oracle speaks
let the industrial class hold their
tongues. Did they give any reason?
NO, not one. 1t was expected that the
industrial class would accept their as
sertlOn as a fact. These eXpOunders
or the Constitution asserted that the
people had the constitutional power
to issue debt-contracting currency,
form corporation outside of the chan
nels of trade, loan it to this corpora
tIon for l per cent to he loaned to
the people, secured by first class real
es; ate, plastering the country all over
with mortgages, but they did not pos
sess the constitutional right to make
this money debt 0egal tender) pay
ing currency. tits self evident that the
constitutional right to issue debt