The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1891-05-12

DuG III ~ more p10uGIIul anu COUpdrd-
lively it is made to represent value
with gold as Is is to 1. But there is
not Is times more silver IN the world
than gold; hence, before the tyrannical
act of its demonetization it was above
par, says B. J. N, Of Morrisville.
Thus we conclude from the nacure of
value itself, and the standards adopted
by the human race to represent value,
that money is not a persistent value in
itself, but simply representative of
value.
Before, we have said that where the
metal has value of it's own, as in gold,
silver, nickel and copper, just to that
extent of value they represent a value
in themselves, and where any money
has no value itself, it must represent a
v&lue in something else called security
or backing.
While we are passing, we will re-
mark what is money in one country is
no money in another country. Every
nation has it's own money and com
parative representations of value; as
B. J. N. says, the balance of trade
must be settled in bullion as such.
Therefore, it was a vain effort on the
part of THE FARMER to endeavOr to
stretch his definition of money so as to
cover one universal money. There is
no such thing. What we call money
in one nation is no money in another
nation.
The PROGRESSIVE FARMER no doubt
will excuse us for not noticing many
points he made on account of more
i'm 9ortant matter requiring our atten-
ton; because the resultant of his
theories would ultimately combat the
rights, civilization and Christianity of
the age, and lead to the worship of the
golden god.
To B. J. N, speaking for B. J. w,
we ought to say we meant noperson-
alities. Also we will say that we did
not mean to be critically correct to the
figure. Therefore we thank him for
all proper corrections. My arguments
made for the free coinage of silver, cut
and trimmed were these:
/. All argument grounded on the
present price of silver is unsound and
misleading. First, because free coin
age will increase the demand, and the
increased demand will increase the
price. Why? Because when silver
was demonetized it was at par above
par( Why? Because the nations of
the world will raise the price to pre-
vent it's loss.
2. The demonstration of silver in
the roguish manner in which it was
done, is an insult to the American peo-
pie, and it is the duty of every Ameri-
can to spew every one who had hand
in the matter, as well as their abettors,
out of it's mouth, and to reinstate the
free coinage of silver by way of con-
demnatiOn.
3. The demOnetizatiOn Of silver was
a fraudulent change of the contract of
the United States with the bondhold-
ers, for the silver dollar was the unit
and standard of value made so by laws
then existing. The coinage of this unit
was stopped, the bonds thereby made
payable in gold; thus changing the
contract, doubling the burdens of the
people and robbing them of untold
millions.
When | thought of these things, B.
J. N, how Grover Cleveland, elected
on a. free coinage plank, did not defend
the honor and rights of the nation, but
actually went to private banks to bor-
row gold to pay bonds when there was
a surplus of paper money and silver in
the treasury. When [ thought of these
and many other villainies perpetrated
by this government upon the rights of
an innocent people, I went out to an
old field and ripped and snorted and
threw up dirt for two level hours. This
is what makes me so touchOus, when
one says money is persistent value
in itself, and not a representative of
value; when one says we shall hesitate
to right these wrongs, because there is
so much silver; because it will jeOpar-
die the political interests of some
party or individual. The eternal laws
of right, justice and freedom should be
first vindicated and let party or men
standing in the way go to HI We
are mad; mad as wet wasp. We
cannot compromise the honor of the
nation. We cannot compromise right,
justice and the principles of freedom.
We are willing to q flll1 face discus