The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1892-04-12
OUR COMPLIMENTS TO RUS
TICUS.
1ba IT. c. Note Made to Perform all the
Functions of the Gold DOllar--Gold
not. Necessary in Making In
ternationa1 Exchanges.
The Conspiracy of the Creditor Glass.

The Conspiracy of the Creditor Class.
Mp EDrToR:-In my article of Janu-
arv 18th in The PROGRESSIVE FARMER
untitled "Does money need a re-
ACKNOWLEDGMENT and supply *
the value of money-WhaG noeI1
n be based OnG" | MADE d tol-
lowing statement: What 1unctlon
will a gold dollar perform2 Pay. taxes,
duties make exchanges and pay import
duties. A full legal tender UnlCea
States note will perform every n OF
them. Who will dispute thlss we
offer one hundred dollars for PROOF TO
the contrary" Second point: 14e
gold dollar has intrinsic Value only
when converted into the arts or OuI-
lion. and it could not be used as money
and bullion at the same time. InIru'
"Other things being equal, q YoIuIne
of money determines prices. Fourth.
GA voInme of full legal tender money
could be kept uniform while a volume
Of money composed of coin and paper
could not" Fifth. There is no need
Of q redeemer for any kind of money
when each can be made to perform all
the functions of money Sixth. RE
demption idea has wOrsted every ma
tion Seventh, LAS civilization ad
wances our wants increase, and this
calls for more money" Eighth. THAT
is based on the wants of the
Deople. and it is their wants that calls
It into existence" Ninth. That gold
coined into money is as unstable as the
winds" Tenth. That there Is no
such thing as international money"
Eleventh. Had we passed a uniform
volume of domestic paper money to
transact our domestic commerce and
no gold and silver entering into it, we
would never have had a panic result
ing from an export of specie" Twelfth.
THAT a gold basis ties us to Europe
and compells us to compete with lower
civilized countries for English gold and
forces down prices and retards our
civilization. We will pass over the
point and pith of the money question
that the average reform, the Peoples
party, cannot or will not see."
Rusticus has not disputed one of
these propositions. | will take up each
assertion made by Rusticus and answer
them. We will inform Rusticus we
labor under no 'hallucinatiOn." We
do not believe anything produced by
theTadUstrial class turns to gold. 1t
is the debts of the people, contracted
under a vicious financial system, and
made payable in gold, that turns to
gold. 1t lsthe creditor class that holds
that which calls for ten times as much
gold as there is coined into money in
the civilized world.
Oh, no, Rusticus, the farmers have
nothing that turns to gold. 1t is not
intended they should. Gold is coined
for the creditor class and paper money
and silver for. the wealth-producers.
The shylocks have a corner on gold
and they have doubled it's measuring
power in twenty-five years. Rusticus
quotes from my article: Ninth. Will
a gold dollar pay the balance of trader"
and then says: Il trade with q
foreigner to whom l owe a gold dollar
and he takes it,"
If RustiCus trades with a foreigner
IN a foreign country, he will not take
his American gold dollar. If you trade
18th him in the United States he will
it. Rusticus, if you make a trip
0pe, you will not take your gold
You will go to some bank
sitter of credit to the country
are going. When you
0ment stamp off of the
gner and no one else
pu have defaced
it ceases to be a
Ssses bullion value,
10 worn by abrasion
over cents in U. S.
old dollar has three
it is much WON, it
Nthap ninety cents
in a gold
a a full