The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1894-04-17
DANGEROUS FINANCIAL THE
DRIES.

n VS. GAA4O IN @NS
rather political, doctors assert that
periodical panics are unavoidable and
very nearly unexplainable. Not a few
contend that all countries r subject
to panics and refer us to past history
for proof as to the correctness of their
views. 1t all appears to be true as
gospel. Unless we go below the (otten
smoothly surface of this tissue of error
we are liable to fall into their way OF
thinking, their way of explaining away
truth with falsehood.
There are no genuine causes for these
periodical panics that have shaken the
very foundations of the universe in all
parts of the world in the past eighteen
hundred years. The ~plutocratic ele-
ment are at the bottom of every panic,
and they have something important on
hand whenever they give the signal for
the work of destruction to go forward
briskly. Human greed is the incentive,
and the cupidity of the masses makes
it possible for the plutocrats to succeed
easily. When we say the masses we
do not mean one or two classes, but in
clude farmers, mechanics, merchants
and all the professions, for they are all
made the scapegoats of ~plutocracy.
The two most recent disastrous
panics in the United States are typical
of all the others, and will serve Our
purpose. In 1873 the first object was
the characterization of silver, and that
was accomplished. The millions
made poorer, and many fairly we'll off
were ruined, financially. Prices have
gone down gradually but surely. But
that panic appeared to diminish, and
while it was doing so the plutocrats be,
came millionaires, some of them many
times over. In 1873 silver was partially
restored and everything possible done
to lull the millions into fancied secur-
The people became more ener-
getic and actually believed that the
country was prospecting. Cities, towns,
factories and railroads multiplied and
grew as they never had before. The
papers told the people that they were
making wonderful progress. The PEG
pie believed it. The farms yielded
supplies for all who had to buy
there was no cause for the panic; it
was artificial.
In 1898 the bankers and other bond
holders brought on another panic. The
country was full of farm prod
uCts. The cities and manufacturing
towns were full of consumers. There
no reason why prices of products
should not be reasonable. Again silver,
thathad been partially restored, was de-
monetized. Silver was not so much in
the way, but plutocracy wanted more
bonds and they are getting them; plu
5ocracy wanted wages reduced and
they have done it; wanted more fac
tories and railroads for one third or
One- half their value, and they are get
Ting them every day. Millions reduced
to beggary and thousands double and
treble their wealth in a year.
After the storm comes the calm.
They tell us that panics come and go;
that we can't help ourselves. Failures
are not so numerous, the people are ad.
themselves to changed condi-
lions, submitting like dogs under the
of their master. Now the danger
s that too many will be deceived
be lulled to sleep by these false
doctrine teachers and act the fool
again. If p~lutocracy gets another
chance at us, if we do not throw off
he yoke now, we will not have an
'ther chance. The next "panic" will
Oe the browning drama in this tragedy
# human greed, and our national de-
rtruction will be quicker and more dis
than the fall of Rome.