The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1892-06-28
cTIvE REMEDY FOR EXIST
EFFEO ING EVILS.
N @

COL estat anu P0I9 PAoPO1Cy'
re-" the constant topic OF onver
sDotion among the people gener-
S 55ir The statement OF newspapers
ana sSOnnrous and the people c~ontented,
Sprottp onlv palpably false, but an
is nv mockery of the suffering
OHenos' IF the South and Northwest.
1 mass are the facts in regard to this
VIA In the South the unusually
maUt0I croDs for a series of years, the
Sn norcitv of money, the heavy taxation
SCaiG +La enormous prices which the
ans anu nave been obliged to pay for
lat.npIios under the lien bond system,
suR5,rnd and encouraged by trusts,
W~",onolins and combinations of CAPT
L ~ ~ various ways, coupled with the
- |" mortgages upon their lands, and
LI.an mon their hOmesteads, bearing
Vr0 ovorbitant rate of interest, is the
90 cause of, and aggravates the in
toinrable burden under which the
rraat mass of the people in these sec
Sons of the country laborers; en-
UIoTprs and employees, white and
PPoI33rpd. are continually asking the
CTosti0n: How long is this state of
HtPings TO exist9 Is there no relief? In
tba Northwest, while the crops have
bnon generally better, the prices realized
law been solow that the farmers whose
lands are said to be mortgaged to an
amount at least equal to their market
value. under existing circumstances,
find themselves not only unable to pay
the principal, but the high rate of in
tnrpst on their Indebtedness, and are
therefore depressed, discouraged and
dpspondent at the prospect staring
them in the face, of losing not Only
their homes, but all the accumulatiOns
nftheir past lives and being left almost
~irrecoverably ruined.
The people in both these sections are
beginning to realize the fact that the
rapid accumulation of mammoth for
tunes at the money centres of the
country and the powerful influence
exerted by the combination of these
immense sums in the hands of a few
avariciOus persons in contracting the
circulating medium of the country for
the purpose of depreciating the value
of property generally, and controlling
the market price of all agricultural
and mechanical products is destined, at
no distant day, if allowed to continue,
to reduce the great mass of the people
to the most abject slavery to the CAPT
talist of the country.
Viii the American citizens submit to
such a fate? This is a peoples govern
ment, established by them for their
own protection and benefit. 1t exists
by the will of the people only, and can
exist no longer than they will that it
shall exist. These facts should never
be lost sight Of by the representatives
of the people who should never forget
that they are only the servants and
not the masters of their constituents.
They should ever remember that the
best and most worthy representative
of the people is he who strives the
hardest and most diligently to accOmp-
lish these primary and fundamental
objects, for which this government was
organized. We are now looking to
Congress to remedy the evils under
which we are suffering. Our repre-
sentatives in Congress have the power
and can relieve us if they will. VIII
they do it?
If Congress will authorize the issue
Of a sufficient amount of treasury notes
TO increase the circulating medium to
fifty or sixty dollars per capita of our
federal population and deposit it with
the several States where desired by it's
citizens, to be loaned to the people for
twenty-five years, at 1 per cent. inter
est per annum, payable annually in
advance, and amply secured by mort
gage on real estate by financial agents
appointed by the governor and council
in each of the counties of the several
States, with a stipulation that 5 per
cent. Of the principal shall be paid at
the expiration Of the sixth year after
the date Of the mortgage, and annually
thereafter for twenty years, and on
failure to pay either the interest or
principal, as stipulated, the whole debt
to become due, and the mortgage fore
closed.
Let Congress pledge the mortgaged
lands and the faith and credit of the
Z. S. Government for the redemption,
in gold and silver, of the outstanding
legal tender treasury notes thus issued
at maturity of the mortgages, and it
will make it the safest and Jest money
the world ever saw. Five per cent. of
these treasury notes per annum being
returned to the public treasury in pay
ment of the principal for twenty years,
will be so gradual a contraction of the
circulating medium of the country as
to afford a certain guarantee against
any sudden and calamitOus shrinakge
Of values.
But the exports of our domestic pro
auctions would give US such an enor-
nous influx of gold and silver from
foreign countries, as would doubtless
not only compensate for the gradual
contraction Of the 5 per cent. per an
mum, paid on the debt, but actually in
crease the circulation per capita of our
increasing population.
Ameasure embodying the provisions
carefully formulated and properly
guarded in detail, will thrill with de-
light the hearts of the great mass of
our people. 1t will avert the utter
ruin to which, under the present aspect
of things, the masses of the people are
doomed. It will break the fetters which