The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1893-05-23
THE MEMORABLE LAWS OF
TRADE.

| ll2 OI1 U1LC VI OPOACH r.
posed and discussed in Congress last
wear. quotes some history and then gets
| off the following:
"These facts show at once the impo
| tencv of government and the lmpO.
| tencv Of legislation where the laws OF
trada are concerned. These cannot be
| defned or ignored. They are as mex.
| 0rable as the laws of the physical
world. 1t may attempt to destroy the
machinery for facilitating transactions
between consumer and producer, but
if it does the consequences Will not be
trifing,"
Remarkable statements, yet to a Ger
tain extent true. The government IS
po1rerh IS, legislation IS powertess
where the zaaU8 Of trade are concer"ed'
The laws of trade, he says, are x
| able, that is, they are Interchangeable,
thew cannot be induced in any possible
way in the least possible degree to sub
NIT for the shortest possible time to
| the most ~infnitesimal deviation from
the path market out for them, and no
| power Of government or legislation,
war, cyclone or earthquake; nothing IN
the heavens, above the earth, beneath
or even under the earth can stand be-
fore these laws. Government may
attempt to destroy the machinery for
facilitating transactions between con
sumner and producer, but if it does the
consequences will not be trifiing." This
may be true and evidently is, but how
does it apply against the anti option
bill? Who is the producer and who
the consumer of options? What is an
option? 1t is simply the power of chos-
ing. The exercise Of that power, a
wish, a privilege, etc. Where is it
produced, where is it stored for safe
keeping9 What is its utility? What
is its shape2 Can you eat it, drink it,
wear it? Is it tangible, or is it simply
imaginary? We are informed that
more than 3O5 millions Of these will o.
the-wisps have been sold on the New
York Cotton Exchange in the last %
years, and called bales Of cotton, And
it is an effort OF legislation to destroy
this attempted violation Of the inexor-
able laws Of trade that has brought
forth this editorial in the Financial
Chronicle. The option business is an
attempt to substitute fiction for fact, |
a lie for the truth, deception for hon
esty, all of which is a clear violation
of the legitimate laws of trade and can !
but work in~calculabIe harm to the pro
Queer, because it is impossible to de-
liver the goods.
The resumption act, the credit
strengthening act, the demonstration
act, and many other similar financial
acts Of Congress in the last 80 years
have been at the ins5igation Of these
dealers in myth in New York. They
have been directly in antagonism to
the memorable laws Of trade. They
have brought ruin to millions of homes, |
made millions Of tramps and thousands
of millionaires, and the end is not yet.
They have beat silver down from 81 80
per fine ounce to SO cents; they have
beat cotton down from II cents in '73 /
to y cents III '92. They have beat our
best farm lands down from $35 and $40
per acre to S. and IS, and still thew
Cry for more of the blood Of the pro.
Queer.
We learn also from this quotation
above that the machinery for facilitat
ing transactions between producer and
consumer must not be interfered with.
We say the chief implement or ma
chine IN these transactions is money.
Let those cotton hoers in the field rep
resent the cents, those cotton pickers
with their baskets the nickeI8. the cart
hauling the cotton to the gin the dimes,
the wagon taking it to the depot the |
quarters, the railroad taking it to the |.
seaport the hdlUes. the ship to export |
it the dollars, and the return qoZd |
nothing but gold eagles; qoId
gold eagles, But you say, 81
must have some cents and nickels and
dimes and quarters and halves and dol
lars with which to settle with nv
-aborers." No, sir, you are told the
man who can't take his pay in gold
is not entitled to any considera-
ton. He does not come in under the :
avs of trade" and ''the laws of trade
are i~nexorable." He must take qozd
or nothing. We have no money
out gold and nothing shall be called ,
money in the whole world but gold.
God made gold for money, and those
who cannot stem the tide with this Coo
made money must content themselves
With their lot" i
You might as well destroy every !
other implement of industry except Z
he ehips at sea. as every other monou