The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1892-03-08
FcoNoMY--MoNEY SHOULD BE
PLENTIFUL.
The Money Power Sapping the Morals
of the Nation-A Guardian Should
be AppOinted--Our Best
Business Men Bank
rupted.

rupted.
The Man Who Wanted the Sub Treas
ury, but Don't Want 1T NoeV.
ECONOMY.
Mr. EDITOR:-When economy dwin-
dies into parsimony, it Is detrimental,
It is the dollar put into circulation that
does society good. The dollar boarded
is. for the time being, as useless as II
it was in the middle of the Atlantic
Ocean.
To economic when we + able to
consume, is to decrease consumption;
to decrease consumption means de
creased production, and decreased pro
ductiOn means unimplOyed labor or re-
duced prices all around. Our consump-
ton should be within u means, leav-
ing a surplus to invest in production.
To economic SO as to have capital to
increase production IS a virtue and will
hasten the day of industrial indepen-
denCe.
MONEY SHOULD BE PLENTIFUL.
Money should be plentiful so it
would pay better to invest than to
loan. Every dollar 10 tned draws the
money out of the channels of trade to
the extent of the interest accruing and
adds to the cost of production. This is
an unnecessary burden laid upon the
wealth-producers. AS long as the in
terest on money is greater than the
profit accruing from production OF
wealth, there will be a tendency to lJve
As money is always loaned
on good security and runs no risks,
while every industry takes risks, the
preponderance is in favor of the money
loaner, even though the interest on
money did not exceed the profit on in
vested capital. With the prepOnder
ance of certainty in favor of the money
power, there is an increased tendency
to divert money from the channels of
trade TO be loaned on f~rst-class real
estate. The tendency of such a system
is to longest money into head centers.
This ~cOnge5ting of money into head
Centers leads to gambling and specula-
ton in stocks and the farmers pro
duce. When money is plentiful in
the channels Of trade, all industries are
producers aud there is less gambling
in stocks and the farmers produce.
Money-holders seek employment for
their money. When it pays we'll to
produce. 1t goes into the channels of
trade. When 1t does it Is used to speCu-
late on. Speculation and gambling are
the most rampant when money is con
gested at head centers. This statement
is contrary to the prevailing idea of a
plutOcratic press, but nevertheless it is
true. True political economy looks to
back of industry. Our financial system
pI3Sces ar unnecessary burden upon the
lndu5Strial class, 1t must give way to
one thSat does not.
THE MONEY POWER IS sAPPING THE
MORALS OF THE NATION.
The money power is sapping the
morals of the nation. Their financial
system i~mpoverishes the people. They
take advantage of the poverty created
by this system and buy their votes to
perpetuate this system that impOver-
ishes them, and through this floating
and purchasable vote, control all
financial legislation. They are not
only the foe of our industries, but they
threaten our civilization with death.
They are travelling the same road and
using the same measures to accomplish
their designs that destroyed every
great nation of the earth. This re-
public cannot long survive and foster
conditions that impoverish and degrade |
its voters. They have made millions |
of tramps and criminals. They have |
broadened the gap between the rich
and the poor and have created a large
class Of floating voters and can at any
time buy hundreds of thousands of
this class and transfer them from one
of the old political parties to the other,
and each year ees this class growing
larger, 1t was the money power that
first introduced this corruption into
politics. The money power as now
constituted IS a standing menace to our
republican institutions, and does more
than all others to retard industrial
revolution. The specializing and
gambling Off Of money, cOngested into
head centers, keeps hundreds of mil
mons OF dollars out of the channels of
Crade, and the system rObs our indus
tries Of one thousand millions of dol
lars each year and retards production
and consumption one-half. Nothing
short Of a union Of the best elements Of
all parties can overcome this cOrr11nt
system and the floating vote they con
troll.
A SHOULD BE APPOINTED.
If aprivate Individual permitted his
agents to manages his affairs as we per
mt GU representative to ana eoUrs.
MS friends would bring him before the
court, try him for lunacy and he would
be adjudged 0 compis mentiS, and a
guardian appointed to manage his
business: Suppose the principal of a
mercantile house would allow his
clerks to issue his credit, form a cor,
poration outside of the firm, loan the
credit Of the firm to this corporation at
one per cent, then borrow it back at a
per cent. twice as large as the firm
could make off of it-mortgage the
firm for the amount of the credit
loaned, make the principle and interest
payable in any other kind of money on
which this corporation has a corner.
Would not any court adjudge the prin-
cipal non compis menti8 and appoint
a guardian to manage his businessq