The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1893-05-16
EVIL OF
The Cause of Hard Times Laid Bar
Special Legislation IN Behalf Of the
Few by the Congress Of the United
.St0tee Se the NGnqLSe of ALL"

Having been furnished by the stats
tical bureau of the United States with
an approximate statement of the fnan-
cial condition of the citizens of Amer
lea, and having read closely and stu
lousy Congressional financial legisla-
ton for the last thirty years, [ am
fully convinced that legislation on the
subject of finance has been solely in
behalf of the bondholders, bankers,
trust companies and capitalists. Not
only has this legislation been for the
ACKNOWLEDGMENT of the aforementioned
wealthy institutions and bodies Of
America, but a great portion of it was
instigated and made the law of this
land in behalf of foreign capitalists.
The effect of such law-making has
been intensely detrimental to the inter
est ofthe% industrial classes of the United
States. In 1860 one half of the aggre
gate wealth of the country was in the
hands of the industrial classes. At
that time the poverty, including every
thing of value in the United States,
was estimated at sixteen billions Of
dollars. Now, in 1898, it is estimated
at sixty,two billions of dollars. Over
half of this immense sum is owned by
$4,000 persons. One-twentieth of one
per cent. of the population of the
United States own over half of her i'm
mense wealth. We have just a few
ear ago celebrated the first centen-
NAL of the American Republic. How
rapidly do these figures show the con-
c%entration of wealth.
Remember, when Egypt went down
three per cent. of her population owned
ninety-seven per cent. of her wealth.
The plain" people were starved to
death. When Persia went to pieces,
one per cent. of her population owned
all her lands. When Rome fell, Is, 900
people owned all the known world. "a
concentration of a country's wealth in
the hands Of a few, means the ruin and
death of that country"
The railroad companies in the United
States own 211, 600, 900 acres of land
enough to make six States as large as
Virginia. The Vanderbilts own over
1000, 900 acres. Mr.. Disston, of Penn
sylvania, owns over 1000, 600 acres.
The Standard Oil Company owns over
1000, 900, and Nh. Murphy, of Califor
MIA, an area equal to that Of Massachu-
sets. 81, 900, 900 acres are owned by
foreigners who owe no allegiance to
our government and who are enemies
to our Republic.
Congress of the United States by
legislative enactments gave the most
of the aforementioned lands away.
Shall we not demand a half2 Is it a
conspiracy to advocate reform? Will
the people submit much longer to be
called a mob, because they demand of
Congress a redress of their grievances?
There are nine millionaires in the
United States whose annual incomes
aggregate $38, OOO, 900. There are a.
99I millionaires in the United States
that will be placed on the tax list when
we have a law requiring the beneficiar-
les and favorites of the government to
help pay the expense of running it.
The Peoples party advocates an in
come tax. We had from 1868 to 1871
an income tax, from which the govern
ment realized about SIS, 900, 900 the
year it was repealed. The two old
parties in 1870 voted to repeal it, aud
without Democratic votes it could not
have been repealed. Had this tax been
continued to this time it's average per
year would have been at least $780,
600, 900. More than sufficient to pay
the interest on the public debt, besides
a sum great enough to have paid off
the entire national debt by this time.
Why was this tax repealed9 1t was
only imposed on those whose income
amounted to S., 900 and upwards. Upon
those who had made their fortune at
the expense Of the farmers and toilers
of this country; who had enriched
themselves while the bone and sinew
of the country were fighting to pre-
serve the Union; who made their great
wealth by government contracts, ex-
travagantly awarded as the price of
party fealty.
England realizes sixty millions an
nually from an income tax, Italy forty
five millions, Prussia thirty millions.
Why was this tax repealed in America
and the whole burden of taxation
placed on the shoulders of the indus
trial classes9 1t was repealed because
bankers, pr~otectionists and millionaires
predominated in Congress as law
makers, it was repealed because it
affected the rich, the extremely