The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1893-05-13

the ruinous TALL the prices OF agricultural pro-
ducts. The main cause is the continuous rise in |
the value of gold.
London &tGnddrd-Cheap silver has given us
cheap food and raw materials, nothing would be
more disastrous to our foreign trade than a sud
den rise In silver.
Colorado Fdrmsr-This IS why Ernest Seyd was
sent over here to buy enough men like John
Sherman, to sneak a bill through Congress
demonetizng silver, and this is why, Harrison,
Sherman, Cleveland, and all English dupes and
toadies a.e in favor of cheap silver. Cheap silver
means cheap wheat, cheap cattle, and cheap
produce OF all kinds. l might continue to quote
authority to show that contraction OF the money
volume is the permanent cause OF the low price OF
our farm products, but time will not permit.
There are other causes tending to detract iron
our products. Senator Higs Gins says gambling in
wheat and other product options, robs the farmer
o the full benefit of the natural law of supply
and demand 1 will pass it by. l will advise
the club to look it up and read it, and further
ascertain how our Maryland Congressman and
Senators, voted on the questions OF local option
free coinage OF silver, each OF which they generally
advocated previous to the Cleveland campaign,
and now they stand on the repeal of the Sherman
Act, and the Issue of bonds to sustain the credit
| hundreds ofmillion OF silver the treasury pur-
chased at it marketable value, with the taxable
power OF the government behind it. Oh how
| mighty is gold in peace invlncible, in war invis
| sIbie, boarded In both instances.
Transportation of our products affects prices.
Our railroads capitalized at double their actual
cost must charge high rates to pay dividends to
| the stock holders.
The average capitalization is 3D. 600, 900 900
their actual cost about 81 500 OOO co., about half
water. Then come the ticket, freight and
Advertising agenc costing yearly $500, OOO, 900.
Then princely salaries. and picking Of presidents
directors and host OF parasites amount to an
equal il not larger sum. 1t is safe to say that
over $500 900 ,O00 would be saved to the people
| the government owned and controlled our rail-
roads, saved to those that transport mercha ndiss
and travel on our railroads. Is it strange that
| liberty lovers are becoming alarmed, when they
see through corrupt Congresses their franchises
manipulated by vast combinations OF capital, the
the products OF labor the profits of enterprise
| turned from their legitimate channels to sw ell
| the millions Of the exploiters.
| To return to the subject, supply and demand,
| first, without money. without price, without
profit. How appli able without profit. is 1t not
Not that products will not buy money but
| thst our products are governed, measured by the
actual amount OF money in circulation. Curtail
| the circulation sufficiently and the price OF our
products falls below the actual cost production.
Overproduction is the result. and the nations
material prosperity is endangered. The cry Of
Overproduction is met by the cond ition Of under
consumption, condition which can never be
| remediei until the people have the means TO
purchase the products OF labor.
1t is only necessary to refer to ancient and
modern history ier facts in reference to the con-
dition OF nation without money When the
silver mines of Greece and Spain failed to yield
| the Roman empire went down, money became so
scarce that tbs purchasable power of the smallest
Roman coin was too much for 4 days labor.
| When the Romans left Britain taking with
| them the coin in use, money was go scarce that
the slave and OK, measured in money by
| shilling. In the New England colonies, which
were prosperous until England demanded the
| taxes paid in coin, which de rived the colonies
| OF money, was only remedied by revolution and
| separation from the mother country before New
England became prosperous The funding OF the
greenbacks In bonds, followed by demonetzing
| silver In 1873 contracting the money, putting US
| on Il gold basis, has ctually wiped out the
| farming industry as profitable condition,
plastered the farms Of the country with mort
cages and embittered the farmers. The proof is ia
| our late elections.
] In conclusion. it is not my desire to show that
| overprod uction OF an article does not affect the
price thereof. Far from 1t. But insist that
| over production is barely possible when the
people have bountiiul supply OF money and that
generous supply OF money by increasing the
demand, is always followed by increasing pros
perity to the producers. When an insufficient
supply of money, the money controlled by the
| banks as now, is always followed by a condition
of dependency Of the masses. The moment the
circulation is restricted the demand ceases. See
| Secretary Rusk and others whom have quoted