The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1893-10-03
ARE THEY KNAvEs OR ,FooLsa
Axiom of the New Dispensation---The
Duty of Alliancemen

States to stop buying silver and buy
gold. The repeal of the Sherman law
is only the first step. If we follow it
up by getting our share of the gold of
the world, we will compel England to
come to our terms y Washington
! Post.
It is estimated that English subjects
hold not less than five billion dollars
of American gold bearing securities.
from which they derive an annual
revenue of not less than three hundred
million dollars. English subjects hold
not less than three time this amount
| of securities of other nations, from
which they receive not less than nine
hundred million dollars annually.
| Here is a total income of one billion,
two hundred million dollars annually;
every dollar can be demanded in gold.
There are two ways of getting gold into
this country, vice sell more than you
buy Or sell bonds.
We must sell our surplus produce
and they are selling 10 to so per cent.
below the cost of production, therefore
we cannot get gold in this way and
hold it, as it must go upon our debts
The Post s plan is to sell bonds for gold
The creditor class of Europe have the
gold bearing bonds that command the
gold of the world This gold is for
sale to the highest bidder, who will pay
the highest interest. Supposing we
issue bonds this year to the amount of
three hundred million dollars and the
debtor nations buy gold to the amount
of nine hundred million dollars more.
The English creditors receive the one
billion, two hundred millions back in
interest at the end OF the year, and the
next year we must buy the gold again.
Continue this for ten years and the
national Indebtedness would be in
creased three thousand million dollars.
Meantime farmers would find their
property confscated for debts and
taxes. Think of policy that would
enrich the creditor class twelve billion
dollars in gold bearing bonds, forcing
them into international bi metaliism
1t is we'll known that the creditor class
of Europe have a death grip on the
governments of Europe, and they must
obey their will to secure the loans to
maintain the immense ornaments of
Europe. There is not a nation Except
France) that would dare to except the
unlimited remonetizing of silver.
The editor of the Post is not fool.
He is the paid attorney of the creditor
class to advocate policy that will en-
rich the creditor class Of Europe and
ruin the industrial class of the United
States. Establish financial policy that
will enable the farmers and the classes
to fix fair prices that will absorb their
share Of the immense output Of wealth,
and they can get the gold to pay their
debts When each class can price
their products, money will represent
the price fixed and will have nothing
to do with determining the price.
When each class can fix prices others
cannot fix it for them. The creditor
class, boards of trade and produce ex
changes are opposed to any financial
system that will enable the industrial
class to price their products, as it would
eliminate them and compel them to
put their money into some calling that
would give employment to labor, the
golden axiom of the near future.
The cost of production determines
the price, and each class fixes a price
on their labor and products that alb
serbs their share of wealth according
to merit, and money represents the
price fixed. As long as the farmers of
the United States compete with other
nations for gold, prices will continue
to shrink, and in the end financial ruin
awaits you.
What is the duty of every Alliance
man9 1t is to become a missionary
among their neighbors and propagate
Alliance principles. To succeed, you
must be fully embued with the mis-
sionary spirit. You must go to your
neighbor filled with the spirit of love
and urge him to cooperate with you
in securing financial system that will
bring prosperity to this country and
place the necessaries and luxuries of
life within reach of all. Your financial
salvation, and that of every class, de-
pends upon speedy cooperation that
will enable you and other classes to fix
living prices You must take reform
papers and induce your neighbors to
do the same. You say times are hard.
You allow the money power to rob you