Emmons County record. [volume] (Williamsport, D.T. [i.e. N.D.]) 1884-current, 1893-12-29

port Enterprise. The editor OF the En-
terprisc says eve give place in this 49,
sue to very interesting and suggestive
letter from an intelligent farmer in North
Dakota, to his brother IN this city, on the
not-yetsettled silver question" Follow
ing is the letter:
This fall has not been rs busy time
for the farmers in this vicinity as usual.
The light crop was soon disposed of, and
the ground has been too dry to plow and
prepare for another crop. There isn't
much encouragement. any way, to make
preparations for another crop while the
price of wheat remains 80 low.
The moral effect" of repeating the sill
yer law, instead Of helping the price of
wheat, as manv newspapers predicted,
has sent it down about six cents bushel.
The silver law. as 1t stood, was neither
one thing nor another but it was res
pealed at the demand of the creditor
class. and that was reason enough for on
posing repeal unless something better
was substituted for It.
The holders of bonds, mortgages and
other forms Of fictitious wealth were
afraid the country would be forced to
silver basis and the purchasing power OF
their incomes greatly diminished. They
claim it would be very dishonest to pay
them in anything except gold. 1t ls re-
markable what ideas of honesty some
people have. When silver was demon
etized, In 1s73-au act which practically
doubled the purchasing power Of dollar
these holders Of credits lnwardly smiled,
but said nothing. But as soon as any
one proposes to restore silver to the place
it formerly held, they Immediately shout,
Stop. thief /" Nearly all the legislation
in this country for the last century has
been in favor Of those who had money.
1t has been taking from HIM that hath
not and giving to him that hath.
During the last twenty years the price
of silver has followed very closely the
prices Of farm products, which are the
real basis Of all values. This is evidence
enough that silver is o more honest and
reliable metal .fhan gold for measuring
values. -
There is no good reason why money
should have any intrinsic value. But Of
course, as long as public and private
debts are recognized as legally and NOR
ally binding until they are paid, metallic
basis of either silver or gold is necessary
They were contracted on such basis,
and must be paid on the same basis il
paid at all. 1t is. however, quite certain
that, unless there is large increase in
the output of gold. a greater part Of these
debts can never be paid on gold basic.
ltsis quite asident. th2t the currency
question is still long way from being
settled; and this currency question is
very closely related to the labor and capi-
tai problem, although many would-be re-
formers appear. to ignore the fact. Any
legislation that enhances the value Of
credit heaps corresponding burdens upon
the shoulders of labor.
But it seems necessary that several hun
dred thousand more farmers should be-
sold out by the sheriff, and that .tramps,
paupers and criminals should stllf.fufshaI
multiply and increase, before people 13
get their eyes open and see whittier all
this is tending. s's:4s
The farmers of the Mississippi Valley,
care no more for the r.producers than
they do for the owners Of gold mines
but they object to currency basis that is
continually decreasing the price Of their
products and increasing the amount OF
labor required to pay their debts.
In their efforts 10 demonetize silver en-
tirely and come down to strictly gold
basis. the creditor class have scored 9
temporary victory; but it will prove mere,
disastrous to them than any defeat. Gold
monometalism, which they are striving to
bring about would be long step toward
revolution and anarchy-toward repudla-
tion and general abolition Of credit
values.
The money power in this country in
many respects resembles the slave power
Of ante bellum days butt is even more
domineering and decidedly more heartlsas
and cruel.
The differences between labor and cap.
tai are fundamental and irrecoucilable,
and the conflict between them is as ''irre-
presslble" as was that between freedom
and slavery.
The capitallstic theory rests upon the
fallacy that the results Of labor can be
stored up for long periods In the form Of
moneys and credits. and, by'a miraculous
power Of reproduction called compound
interest, can be made to grow and in !.
crease Ike the loaves and fishes OF
scripture. G. A. r.
Williamsport, N. D.