Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1892-04-28
T.. Edttor.
Member 4 Tie South osksh !s.u Auwisim
a Farmer. view on Finance.

- view on 1
Under the above head a farmer
writes as follows, to the Dakota
Farmer, published at Huron, which
appears in its issue of April 10Th:
EDS. DAKOTA FARMER: With
your permission | viii! say 8 few
words to the farmers in relation to
their grievances, both real and i'm
aginary, of which they complain.
l am not a politician, yet | try to
keep informed on political ques-
tions, and will give my honest
opinion as viewed from the farmers
standpoint. l have but little pa.
thence with politicians who tell the
farmers that they are the most IN
dependent class OF citizens, and
should not complain. The farm
ers are the great wealth producers,
and formerly possessed the great
est share of it in this country; but
times have changed, and those who
produce ne wealth, have now much
the largest share of it; yet it is said
the farmers pay 20 per cent of the
taxes. is it any wonder they com.
plain?
These results have been brought
about, not BY legislation, but by
failure to pass laws that wonld have
prevented results that are so detri-
mental to the best interests Of this
country. Laws should have been
enacted that would crush trusts
and monopolies as soon us they
were formed. The gambling in
farm products, which has been so
detrimental to the interests of the
farmers, should have been proven.
ted; and railroads should have been
regulated by law, instead of allow
ing these great corporations to tax
the commerce of the country, at
their own will and pleasure.
Now brother farmers, there are
real grievances, but let me caution
You against the willy politician who
deceives sou by telling you of i'm
aginary ones. The politician says
to you that there is not money
enough; that in 1866 there were
nearly 81, 600, 900. 900 In circulation,
making $40 per capita; and in 1890,
there were only sc per capita in
circulation; and they demand free
and unlimited coinage of silver.
Both of these assertions are Ear
from the truth. In 1866 the actual
circulation was according to high
authority, $3.50, 100. 99l; but add
ing to it the compound interest
notes, $3.50, OBJ, 140, which did not
circulate-demand notes drawing
compound interest which was not
in circulation; and state bank bills
which did not circulate; altogeth-
err the amount Is 1891, 904, $50. all
paper money, worth sc cents on
the dollar. The amount Of money
in circulation at the present time,
is about $1,525, 600. 900, making
$24 per capita, the greatest amount
in the history of this country.
Some of the politicians talk a
great deal about the demonstration
of the silver dollar by the act OF
1873. But the facts are, that act
did not demonetize the silver dollar,
but merely suspended Its coinage;
and every Congressman from the
silver states, il is said, voted for
the act which they ara now denoun-
cling as such an outrage upon the
community. One reason flor the
suspension, was that no silver bull
lion was offered for coinage, al
though coinage was free. Another
reason was that the silver bullion
that went into the dollar was worth
5 per cent more than the coined
dollar and they were melted and
used in the arts. Every dollar
coined by the government was a loss
of 3 per cent. At the request OF u
gentleman the following table was
prepared by the director of the
mint, Z. O. Leach, which shows
the number of silver dollars coined
from 1898 to 1891:
From 1893 TO lS05a"""".".. l,f39.5l1
E,o,p lS01 IN lSlf nOne