The Ocala banner. (Ocala, Marion County, Fla.) 1883-194?, 1891-08-07

IN their several lines of industry. No
luggelry with figures or financial prob.
lens can possibly secure to the producer
any greater benefit than fair exchange
| OF his products for the products of
others
The trouble is, no. such exchange
takes place. Having passed the age of
barter his surplus for the surplus of
Others in different lines, and arrived at
stage where symbol or representa-
i've OF value called money is used to eff.
iect exchanges it is patent that if this
commodity or thing called money does
not exist in sufficient quantities to prop
erly elect exchanges at the time the
producers are ready to make same that
the producer must suffer.
We Will illustrate: We will suppose
that our circulating medium amounts 10
s6oO,OOO,OO0 or $40 per capita. The
cotton crop of the South needs on an
average annually $500, 100000 or one
half of the whole amount to enable the
producers thereof to exchange 1t for
mules. clothing, implements and the
thousand things that are properly 2ro.
duced by those who make a specially of
their productions. Now this vast sum
cannot be withdrawn from the channel
OF trade without working great injury to
other enterprises, hence, the cotton
planter must suffer in making his ex-
changes, as time is an important element
with him as with others and his oblica-
lions must be met even at a great loss to
himself.
What is true of the cotton planter is
true of the wheat, oats, corn and other
producers.
The volume of currency being fixed
quantity is absolutely under the control
of the wealthy classes, who can by
pledging their wealth, secure the great
bulk of it to themselves at time when
1t is necessity to the producers whose
wares are ready to market, thus robbing
them of the fruits of their labor.
AS money is a necessity, then in effect
ing exchanges, what qualities should it
possess? 1t should correctly measure
and represent values and should not
fluctuate in value itself and il should be
of sufficient volume to meet the demands
of trade when needed.
Now the ancients secured these quail
ties by using gold, silver and copper for
money in such proportion as to quantity
as experience demonstrated the amount
OF labor necessary for their production;
for instance, if mans labor was worth
Sl.O0 per day, man would on an aver
age in the gold mines produce 25S grains
or Sl.0O worth per day. The produce
ton of the precious metal about kept
pace with the needs of trade. Now
that the steam engine has multiplied
wealth, the precious metals are no
longer adequate as basis of circulation.
nor, indeed, are they needed at all as
such.
Our National Bank notes are based
upon the promise to pay to the people
of the United States, these bonds bear
very low rate of interest, yet they COM
mand high premium in the money
market.
A currency based upon the wealth
actually produced in the country, and
destroyed when returned to the treas
ury would have every element of
strength that could be given by any
metal as base and its quantity would
be limited to the actual meas ure of pro-
duction.
Under this system it would not be
possible for any set of sharpers or capt.
talists to literally beggar the producers
Of enormous wealth as was done in
Kansas three years ago when the pro-
ducers of 200000000 bushels of corn
had TO sell to the speculator for 10 cents
per bushel, who in turn sold it for 40
cents. 1t took two bushels Of this corn
to pay freight OH the third to market.
If producers received anywhere near
the amount paid by the consumers for
their products, our danger would be
from the efficiency produced by wealth
among the producers. We are willing
to risk this, however, and we say en-
phatically that we, the producing
classes of this country, will have this
matter adjusted to our liking.
We propose no injustice to the
moneyed classes; we demand simple
Justice for ourselves.
There has been but one way suggested
that promises a solution of this problem
and that is known as the sub-treasury
plan. This bill may not in its present
shape be the best thing for us; it may
need amendment to large degree.
The principle is correct and constitu-
tional and will prevail. Politicians may
retard its passage by frightening our
people with cries of Capitalization but
we are beginning to understand that it
is easier to control set of servants who
owe their places to our votes than it IS
to control lot of millionaires who are
responsible to no one and who use their
money to buy up our legislators to pass
bills for their further enrichment and
our Impeachment.
As this article is quite long enough, |
will in my next tackle the "details" OF
this plan that we are accused of being
afraid of S.S.S.