The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1892-03-22

mon people. with few dollars in their
pockets, would let it remain there until
they needed the necessaries of life.
Why have a bond at all! The rich
will take advantage of it and make
labor pay tribute for money boarded
up. If you have bond, the tendency
will be to invest in a non, taxable bond
when no risks are run. They can do
this on assessment day and escape
taxation. The Supreme Court has
decited that Congress cannot tax the
bondhOlders' bonds.
Leave the money in the pockets of
the people and they will study some
plan by which they can prohtably in
vest it. Put it into a bond and they
would not think of any plan. The
money had better be producing 2 ,ner
cent. than taxing our industries per
cent. Why convert the sign of the
substance into an interest bearing
bOndl If it is right why not convert
! the substance into an interest bearing
bond until it can be disposed of |
have a hundred bushels of wheat and
| exchange it for one hundred dollars.
The hundred dollars [ convert into an
| interest bearing bond until such time
as | want to use it.
Why not allow you to convert your
hundred bushels Of wheat into an in
terest- bearing bond until you wanted
to Use lt3 Why should the sign of the
| substance be given an advantage over
the substance? Can anyone tell!
Why should be paid per cent. on
a hundred thousand dollars, while the
| farmers and factories have millions of
dollars of the substance they must held
until such time as they can sell, and
receive no interest on the products of
! their labOF2 Which is the most valu-
| able the substance or the sign of the
| substauce7 We have createI money
to assist in making our exchanges.
| Why attach 80 much more importance
to the sign-the cOnvenience-t we
attach to the substance? It is the sub
stance we waut. We cannot eat. drink
or wear the sign. We would never
want the sign if we could have the
substance. I'VE want a flexible
money"
Well, what is the matter with $50
per capital If it will transact the
business Of the cOuntry during the
busy time of the year. will it not fex
in your . ,Cl<ets as well az if converted
into An interest bearing bond? Cant
you get the money just as readily out
y =
bank? Won't the money you do not
need to uee for the time being, in your
pOcke is, contract just as readily as If
you put it into a bond and Uncle Sam
locked it up until you needed it With
the Sub b-TrCaSury, sales will be ms5n
a& there is & demand, and as theAaEs
the same demand at all times of the
year, there will be the same demand
for money; hence, we will not need
flexible currenc. Why have a re
deemer for any kind of money? In
this age of concentration of capital,
when individuals and corporations
control their hundre is of millions, and
in the near future will control their
billions, what is to hinder them from
exchanging their wealth for money
and converting the money into bonds,
and bring about a contraction and
shrinkage of values9 When they had
brought about a shrinkage of values
by converting hundreds of millions of
dollars into bonds, then exchange them
for money, load up and when the
money they had boarded up went into
circulation, prices would advance, then
sell out and repeat this process over
and over? This redemption business
il huge buzz saw, and every nation
that has mOnkeyed with it in ancient
or modern times has been ru ned. The
theory of redeeming money is fraud,
and was concocted by selfish AID sor
did men to enable them to rob the bee
hive of indus ry. Leave money free
to circulate when there is a demand
Tor it the same as you would leave your
produce to sell when there is a demand
| for it, Money must be robbed of its
! power to Oppress. This redemption
| business has robbed the industrial
class of billions of dollars annually
ever since it was invented. Making
gold the standard in this country and
| contracting ten billion of dollars in
debts, payab in this standard, has
created a demand for gold that
it's purchasing power has been
the creditor class can get together,
set a time an again double or treble
the value of gold. What is to prevent
them from doing this2 The creditor
class hold the debtor class notes and
the gold, and they can demand any
premium for their gold3 Will anyone
dispute this? Why perpetua5e a sys
tenn that was invented to rob by rob
bers and supported and upheld by rob
bers9 The promise to pay in gold the
enormous debt held by the creditor
class is intended to create a demand
for a metal that is scarce and con-
trolled exclusively by the debtor class.
Gold was created a standard OF values
by the creditor class be .ause it Is
sc Lrce and will measure more Of the
products Of la Dor.
We cannot have a uniform volume
of money or uniform standard to
measure values unless we make all
of our domestic money out of pap 3r.
Paper will not contract or initiate. 1t
is not subject to export. Convert gold
and silver into bricks to pay balance
of trade or to exchange with foreigners
for such things as we want. Ii the