The midland journal. (Rising Sun, Md.) 1885-1947, 1892-02-05
Friday, Feb. 5, 1892.
what we Have Seen.

gagged in business, IN FARMING, away DaSN A'
the sixties when wheat sold for So bushel
and sometimes more Than that? OF course
YOU do. Everything else was in proportion.
Labor was equally high and everything you
bought was high in price. And don't you
remember that business was brisk in every
department of industry? You made and
saved money IL yon chose to be at all
economical. There were no tramps. no Idle
people who wished to work. Every business
was prosperous and everybody was employ
ed. Farmers made money, bought farms
and paid for them out Of the business OF
farming. Land was good price and ready
sale. Mechanics OF all trades were busy
Country merchants sold goods, lots of them.
collected their bills and did well. Every
branch Of business prospered. Why was
this so? Money was plenty. Ten times as
much in circulation among the people,
measured by population and business, as
there is now. This is the reason. There IS
no other reason. No other can be given.
That money was the money of the govern
ment, made OF paper. There was no gold
or silver 10 be seen. Don't you wish those
times had lasted, had remained with US
or course you do. And they would have
remained. had the money remained. II
was the tool which helped people to do the
work. and il was the work which made
people prosperous and happy, because their
labor produced these things that every
body wanted and must have to live In COM
fort. Labor created wealth and wealth
caused prosperity and happiness among the
people. But how about foreign commerce
and foreign exchange, and the balance OF
trade we hear SO much about? Well, wheat
was about dollar bushel in Liverpool,
near about the same price it is now. Did
we sell any wheat then? Certainly. But
how could we afford to do il just as well
afford to sell then as now and with more
profit. A bushel of wheat would purchase
as much in England then as it will now.
Prices Of all goods had their relative values
then as now, end when the goods we traded
our produce for were brought to this country
they assumed the selling price Of similar
goods in our markets. If wheat sold in the
United States for So bushel and in Eng
land for 20 cents. it would be all the same
TO us. We would receive just as much for
our wheat as we do now because all other
goods for which the wheat was exchanged
will rule at correspondingly low price in
that country, and will assume the level OF
prices of similar goods in this country when
brought here This would be necessarily
50, because the price of wheat exerts TIE
same control over prices in both places.
The bushel buys the same number OF yards.
This is no theory. II has all happened.
Farmers who were busy in their fields 20
years and more ago, have witnessed all we
have written. There we're more dollars
here. They employed more labor; more
labor produced more wealth; the wealth
was ore evenly distributed and each work
er received his share, and these conditions
caused more prosperity, happiness and con-
ientment among the people. The same
conditions will produce similar results
again. Can we call them back? Ii the
industrial classes vote together they can
bring all these golden times back again.
We not only at the dictation of the Eng
lish destr Dyed our money and issued in place
Of ii interest pay ring debts which we called
government bonds, but We also quit making
money out Of our silver and sold it TO the
English as mel ehandise for less than dol
lar an ounce. They Immediately coined it
into money, took it 10 India and sold it for
81 SO an ounce. They made clear profit
year after year aggregatipg hundreds OF
millions on our silver, bought wheat aud
cotton with it in Europe, Asia and Africa
which they placed in competition with our
farm products and lowered their price in
all the markets of the world.
In short we destroyed our money by sub
stituting interest drawing debt in lis place,
and made money scarce and dear, and low :
cred the price Of all our property. We sold
our silver to English spectators and helped
TO swell their profits and revenues. When
prices went down and money became scarce
1d dear they returned with their money
and bought our best paying bonds and
socks, Of government, state. municipalities
and railroads. Our best properties of fac
tory, mines and lands. And from all these
Investments they transfer profits and earn
i,gs every year, aggregating hundreds Of
millions Of dollars, from our country to
their own, TO help bolster up arisloeracy
and kindly privileged class in power.
The Republican party and The Democrat.
ic party under whose craftsmanship these
things have all been suffered to come to
pass, declare by their acts and by their
declaration Of purposes that they shall con-
tinue so lorg as the people will permit them
to retain power.
--------------
The great treasury vault at Washing