The Caucasian. (Clinton, N.C.) 188?-1913, 1891-12-03
TAG C.*GE? LEAD.
sound DDcU.ns and Warming from the
National Grange Lecturer.

sound Dpell.ns and Warming from the
National Grange Lecturer.
The rapid rate at which the wealth Of
the country is passing into the hands Il
a few is alarming the most conservative
Of political economists. The Forum says:
let usiaq1ire whether there Ia any ex-
cessYa concentration Of wealth going on
in the United States Ct America. Leav-
ing mere claTnor aad unsupported asser-
tons ont Of consideration on either side,
let us look into facts. As lately a. 1871
there was bat one man in this country
who was rcputei - be worth more than
$500, 800. and though some estimated
lis wealth 1t -, JyJ,D 100, there Is 10 good
reason for believing 1t 10 have been 80
great. At the smallest reasonable esti-
mate there must how b. more than 20
persons in this country whose wealth
averages over 80, gJJ, 900 for each. But
let rs call the number only 200. Income
tax returns show that the number Of ia
comes, when arranged in large classes,
nu.lplie5 from three 10 five fold for
every reduction in the amount Of one
half. For extreme caution, however, We
estimate the increase in the number OF
incomes at a very much lower rate than
this. At this reduced rate the amount
Of wealth in the hands Of persons worth
over $4,000 each IN the United States
would be about i3 follows:
'-;Jl persons .S21DOo.OJ0 sin11Cl1HOf
4DJ persons at........ lND,ED 4Nu#Jtg
lhJl persons at........ 5Gb,WO 5fJ'GJ ~
2,JD persons at........ 2,Jp1nyJ G.2J0WD0oi
1000 persons at........ l,JOLDD 7.clgD,JE
2JDJJ persons at........ JJC,OD lGDJgU,uE
Total .................. }j - gJJUyJ
This estimate Is far below the actual
truth. Vet, even upon this basis, We
are confronted with tho startling result
that 81 900 persons now possess Three
ffths OF tho whole national wealth, real
and personal, according to the highest
estimate $50 900, coo, 900 which any on4
has yet yenturcd 10 make Of tho aggre-
gate amoupt. Nor is this conclusion at
all improbable
This uprising Of the people comes
from belief that the universal darres-
sion in agriculture is directly traceabl3
to vicious legislation; that our financial
policy IS ruinOus to the masses; that az
its legitimate fruit the rich are becon-
ing richer and the poor poorer, while the
wealth of the country is fast passing
into the hands Of q comparatively small
number Of persons. One-half the titled
lands Of the civilized world are mort.
gagged to less than l per cent. of the
adult'male population; 80 per. cent. Of
German farms are pledged for debt; one
third Of American farms are under mort
gage to nonresident and foreign capital
lists; half the city real estate is encun-
bered in the same way and to the same
extent: half tho munici palities-coun-
ties, cities, town5Lips-in all the west
and south are under mortgage to bona
holders.
the country is moltgage1 to death.
and 63,O00,OG1 people are compelled to
getalonS with money circulation of ten
dollars per capita. 1t is believed tina.
our national banking law intrusts a dan
gerouS power to banking corporations.
1t Is known that, while the act was passed
to provide a national CURRENCY the
banks are retiring that currency at the
rate of about @32, 500, 900 4 year, and that
no provision has been made or proposed
by our lawnaker" crest tore that amount,
or any part Of II :, the circulation Of the
country. In addition to all this, our rail,
road companies are in debt to stock and
bonds five times as much us they are
worth, and the people are compelled to
pay, III ezorbitant >-atfic CHARGES. the in
terest on this excessive indebtedness
besides dividends to the stockholders.
Briefly, rich men and great corporations
are gambling on the substance Of the
people"
Another little pointer in the great f,nap.
cial problem for thinkers to think about
and study as they are about their work
during the LIsy season. 1t is so well
stated by another that I will quote his
words:
THE agriculturist, manufacturer and
builder, although paying the govern
ment per cent. per annum, would dis
cover that the ? per cent. so paid return
ed to them. Take, for example. farmer
aborlng under mortgage of 10 Der
cent. usury (the rate in several statcs).
The 10 per cent. he pays in no way bene-
hts ann. 1t exceeds his income, drains
HIM and goes to swell anothers power at
the expense Of his weakness. His in
creased poverty forces him to sell his
product at the latter's dictation. He
cannot delay his sales day, an hour. 4
minute. He must sell at cost, even be- /
low cost! Nothing remains TO paw the !
next years 10 per cent. \ notice is
served. Then comes the sheriff. The
profits of the farm for years have been
entered through interest as assets of the /
bank, and now through foreclosure en-
tiers the farm itself |
But the nation loans its currency /
upon land. The scene changes. The /
farmer calls upon his government for a .
mortgage. The rate is , per cent, s per |
cent less. This per cent. remains |
VITA his account. He now has some |
thing to drive the wolf from the door /
tie Is not forced to sell through ruin. NJ
runous rates. The community also
mas currency to purchase with. He
hndS purchasers, makes margin on his
sales. That Is added on the S Der cent.
the government mortgage has saved him.
Al the end or the year, instead of being
feeced, he has wealth and
Iienty. But is this all? No. He goes
to the court house to pay his taxes and
mas That the ? per cent. on the couuty,s
mortgages more than equals the cost of
government. That he has already maid |
his taxes. But is this all? No. What
else has he? He has his farm"
BrN-Ipr. !
these things? Unite with us, and let Ms
save the homes of our American farmers
and by saving them save our freedom
and our country.-Aortimer Whitehead
Lecturer National Grange.
In America 100000 Of people en-
gagged IN agricultural pursuits are DOM
mated and controlled by $1,000 politi-
,ians. Why? Because the farmers. nm
organized and undisciplined, are uncon-