The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1892-09-20
NO NEED OF THE TYRANr GOLD
DOLLAR.

Mr.. EDIToR:-A full legal tender
United States note will perform every
function of exchange performed by a
gold dollar. This being an undisput-
able fact, it is national folly to Keep
gold locked up to go through the farce
of gold redemption. Other things be-
ing equal, the volume of money de-
termines prices. This being conceded
to have a uniform volume to measure
values, we must make our money out
of a material that is most exportable.
The money that will perform all the
exchanges and maintain a uniform
volume is the best. Gold and silver is
subject to export, and the history of
the world does not furnish a single
example of a nation maintaining a uni
form volume of money composed of
gold and silver. The panics of 1837-47-
81 were caused by the export of specie
ard cost the nation three thousand
million dollars. If all our money had
been full legal tender United States
notes we would have had no panic re-
sulting from an export of specie. Money
is not value, but represents value.
Gold and silver coined into money
possesses no other value as long as it is
used for money. The moment youcon
vert them into values they become bull
lion and cease to be money. AS money
is not value, why s a costly metal
to make money when paper Is cheaper,
more convenient and will make every
exchange made by gold. The tyranny
of the gold dollar has become intOler
able. The farmers of the United States
produced three hundred and eighty
million dollars in 1891. Through the
manipulation of the gold dollar it has
1een doubled in value since 1866 If
there had not been any gold dollars to
manipulate and the volume of money
would have remained the same it was
In 1865, the farmers would have re-
ceived seven thousand and six hundred
million dollars.
By legislating a demand for gold the
farmers were robbed of three thousand
the year of our Lord 1891.
lie any nation were to attempt to rob
us of one hundred millions directly,
the nation would fly to arms to repell
the robbers. We have allowed Eng
land to manipulate our legislation, get
us in debt thousands of millions of dol
lars until we are compelled to pay
English subjects one hundred and
thirty-ive million dollars in gold or it's
equivalent, placing ourselves where
England can fix a price on our great
staple crops. The demand created for
gold enables her to buy u grain and
cotton at one-half the price the farmers
should receive for them. The gold dol
lar must be dethroned and the way to
do it is to demonetize it and pay seven
hundred million dollars of our debts.
We have no use for gold as money and
to continue it is to assist England to
still further rob us. l will pay one
hundred dollars for one substantial
reason why gold should be longer
coined into money. If no reason can
be given, then down with the tyrant
and down with parties that advocateit.
The people must issue and control
the volume of money, and it must be
composed of G, material that is non-ex-
portable, so we al have a uniform
volume as standard to measure values.
The farmers and laboring class must
insist upon a financial and tariff sys-
tenn that will place them where they
can fix a price on labor and all the
products of labor. This neither one of
the two old parties propose to do. 1t
is the duty of the people to ~pulverize
the two old machines, and this must be
done ere the sun of prosperity shines
upon this country.
JAMES MURDOCH.