The farmers' union. (Memphis, Mo.) 1891-1895, 1891-11-05

aSSinSs tAlfiFaSant lubllc expend1-
lures, against unequal taxation, against
the slollation OF the working classes,
against the eXploiter and speculator in
the products of the field, the mine and
the factory; against the whole class
who make monopoly Of money and
live 10y usrry. against the private own
ership of public instrumentalities
against the whole policy of inflated
capital and bonded debts.
The Alliance demands a sufficient
volume of money to enable industry to
exchange her prolucs on a cash basis
to the end that labor may escape the
burden of interest that now eats mp her
sustenance Ill maintaining the credit
system.
The Alliance recognizes that the
government monopoliZrs the creation
of money and insists that the fact ear
ries with it til" duty TO provide q suf
ticirnt volume Of money. The Alliance
holds that the volume of money is not
sufficient rs long az average interest is
above the average profits of industry.
The per cent. of increment to ma
tional wealth is the natural interest
rate. Interest could not rise above
this rate if industry was free to provide
her own medium Of exchange.
1t is upon this principle the Ali
anee bases TIE demand that the gov
crnmcnt shall exercise the power it
monopollzes i'll the creation of money
ana perform its duty to the Industries
by expanding the volume of money un-
Ill the interest rate falls to its proper
level. This per cent of increment to
national wealth has fallen below 3 per
cent. on an average for thirty wears.
The fact that current interest has
averaged at more than double the net
profits Of wealth production through
out this same period cannot be ac-
counted for on any other ground than
that the financial system, from top to
bottom, from side to side. is permeated
with the poison of monopoly aided, en-
couraged and defended by the govern
nent itself
The Alliance demands that industry
shall be emancipatei from the domina
ton and spoilation of the money CEN
tcrs by enabling her to provide her
own medium of exchange
There are many Indications in all
parts OF the civilized world that new
awakening, new day. new era. is
soon to dawn on the aft airs of mankind.
old customs and methods have fallen
far behind the march of progress. The
discoveries of science, the progress of
invention, the trained mind. the skilled
hand have increased the possibilities
Of human effort during the past cen
turv more than the preceding ! 900
wears. The distribution of the benefits
Of civilization equitally among the
children of men has been neglected.
This is the great question of the fu
ture, the great task immediately be-
fore us.
1t includes reaijustment of the
status OF all lahor-saving instrument
talities. of natural material,and natural
forces to the end that the plutocrat.
the monopolis:, the corporation may
not appropriate to themselves the
benefits of the things an all-wise Provi-
ience created for the common support
of his children. No person Or com
bination ought to be permitted to
monoliolize either the forces or mate
rlals Of nature or the benefits Of tlscov-
cry or invention.
Said kumbold as he Went to the
scatfold; Il have never believed that
one part of mankind were born with
saddles on their backs and another
booted and spurred to ride them
Customs and institutions inherited
from a semi barbarous ancestry. party
I ..,,lt Il
principles of government, may have
done good service III an age gone 10y and
be utterly unsuited to the civilization
and conditions of to-day. Many old
notions have long outlived their useful
ness. We are to-day as a nation hold
ing fast to a notion that has been an
ahstlrdity from the beginning. 1t is
this-the government although pos
sesslng the sole power of creating
| money cannot create any for itself but
must be :, borrower. This is scarcely
greater than the other. that an interest
bearing bond is better foundation for
| paper money than actual property.
Tie farmer and mechanic may we'll
ask each other why they should be put
to the expense Of maintaining third
class of people digging metal counters
from the earth to enable them to eT-
change their products, or why they
should huracned with an interest eat
ing bond as foundation for circulat-
ing medium, when they conld furnish
the security for the medium of eX-
change themselves at onefourth the
expense.
The past six months has lifted the
fog sufficiently that all NAV now see
where the center Of the great industrial
battle is to be. Politicians may beat
the bush Vet little longer over an in
signitican! difference in the adjust
| ment of the tariff. but the real contest
canno. long he delayed. We must fix
the status of the ruling force in
America.
Shall it be money or manhood? That
is the question. We must settle the
| question whether our medium of cX-
change shall be a great national labor
saving machine, as great as the ma
tons Industries, rs strong as the ma
tons arms, as sound as the nation S
heart, or whether it shall continue to
be Il tool of monopoly, nominally
under public control hut really con
trolling the people. and exactirg tribute
from industry by the robbers rule of
what the traffic will bear"
The principle involved in our sub
treasury demand is III perfect harmony
with republican government. 1t is
the bow of promise to the wealth pro-
! ducers everywhere, for it proposes to
emancipate industry from the domina-
| ton and spoliation of the money lender.
Depend upon it, it is our citadel and
house of refuge, we must not surrender
it. The best hope ofour children lies in
the promise of more equitable system
of distribution. 1t cannot be realized
without a revolution in The status of
this great distributing instrument.
Industry must be empowered to create
| the medium of exchange at the place
and time when needed. Each indus
trial center ought to be money center
to the extent of its own needs. There
is no mere reason for this whole nation