The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1892-07-12

gold a commodity when we issue $50
per capita, and they intend to do it
when we have increased the paying
power of labor by doubling the volume
of money.
IF you lunatics issue your cheap
money, the European creditors will
send On their bonds and exchange them
for United States notes, and present
them to the United States Treasury,
and demand every dollar of gold and
bankrupt the treasury and fix a pre-
MUM of two to four hundred per cent.
on their gold and make the govern
ment pay it."
Yes, you have placed the people in a
hole where you expect to keep them.
When our European creditors begin
this we will dehorn the golden calf and
let them have all the gold; then we
will have $50 of paper money and a
uniform volume to measure values and
we will not be tied to the gold basis of
Europe and have to compete for Eng
lish gold. The foreign holders of our
debts will send them over and demand
immediate payment in gold and make
you pay four dollars of your cheap
money for one of their gold dollars
We know you fixed finance so they
could do this, but when they undertake
it we will have something to say.
We will send our cotton to the Sub
Treasury, and when they demand four
dollars for n and attempt to Cypress
our people we will charge them forty
cents a pound for cotton. We know
outside Of the United States the worlds
supply will not last over two months
and a half. Let them try it on and
they will find cotton is king.
Mr. PlutOcrat, weknow France issued
seven hundred and forty eight millions
of full legal tender paper money when
she lay bleeding at the feet of Germany,
and it did not depreciate over 3 per
cent, though she was compelled to pay
her victor one thousand millions in
gold, and her Indebtedness was over
three thousand millions of dollars.
This money put every able man and
woman to work, and they p, oduced a
surplus and sold it for gold and the
balance of trade was in her favor,
and now she has more gold than
England and Germany combined. The
$50 per capita, with our ability to COM
pell Europe to pay a big price for cot
ton, will dump the gold of the world
into u lap, and we will have no use
for it bat to pay our debts and use it
in the arts, WearenOt repudiatiOnists,
but we do not intend to be robbed,
neither will we allow absentee land
Iordism in this cOun ry.
We can and viii pay every dollar we
owe our European creditors in gold.
The ~Sub-Treasury is uncOnstitu-
tiOnal."
So we are informed by your chronic
constitutional lawyers. Please inform
Us how it is constitutional to loan
money on the sign of the sign CbOnds)
and unconstitutional to loan money on
the substance that must be sold to get
the sign gold to pay the sign of the
sign. Money is the sign of the sub
stance and the debt is the sign of the
money that the substance must be sold
to pay the debt.
When YOU tell the people it is consti,
tutional to loan money on bonds debts,
and it IS unconstitutional toloan money
on the substance that must be sold t.
get the money to pay the debt. YOf
are deliberately trying to deceive thu
people There is not a lawyer with !
thimbleful of brains but knows better
You will ruin the country if you
UuN UllO Oil ~ LIZ" WIZ ~
pay eleven billion dollars?" :
You told us during the campaign O.
1890 that out of nine billions of rail-
road stock, six billions was pure water
and the roads cost a little owe threI
thousand million dollars. Did you tep
the truth then, and are you Icing now.
Don't you know the best authorituI
places the value of these roads at nCU
over four thousand and One-half billioh
of dollars? Don't you know the gov
eminent report says these roads are
capitalized at a good deal more thai
their value9 A party of the people viii
strip the President of his power ant
place it into the hands of the peOplet
where it belongs. The centralizina
natures of the roads is what we likes
1t will give us $50 per head where
we have 81. so, and eliminate wheels
within wheels, and save us several hun
dred millions of dollars each year, be
sides the three and a half to four hun,
dred millions annually paid On watered
stock. The greatly increased trans
portation would enable us to reduce
freight and passenger rates two thirds.
We can pay for these in nine years out
of the savings. We will pay for them
in 14-cent cotton and not in 6 cent cot
ton, as we now pay the national debt.
Our machine is an expanding one and
yours is a contracting one
1.-The whole provision is dangerous.
without any elements of constitutional
liberty, oppressive and thoroughly I'M
democratic"
1t is dangerous for the people to take
control of the roads and eliminate the
hardship, but it is not dangerous for
soulless corporations to control trans
portation and change the thing all it
will bear and water stock so as to alb
solve all surplus earnings. 1t is dan
gerous for a party of the people, by the
people andfor the people to take charge
of the telegraph, but6t is not danger
III for a Gould to wateEatock 500 per
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