The representative. [volume] (St. Paul, Minn.) 1893-1901, 1894-07-04

II this is done and judicious nominations
are made. success will crown the labors OF
the convention. ]. L. MACDONALD.
FEARFUL FINANCIERING.
Which Has Reduced the Producer to
Poverty.
Editor Representative:
Allow me- in your paper, to thank Mr..
r. ]. Hall for the figures he gives in the
issue Of May on the silver question in its
relation to the prices of wheat and cotton
in this country since 1872. These estimates
are valuable to every producer, and every
laboring man and business man in the
United States. Mr. Halls neighbors. and
in fact the whole producing class, are un-
der obligations to him for the work he is
doing in placing the facts before him. AS
his statement includes but part of the
states growing wheat and cotton, it is, no
doubt, true that if all the states were in
cluded, the total loss to the producers Of
these two products would amount to fully
100000 900 per annum, and computed for 20
years, gives a grand total Of $4,000, OOO, 900
loss by shrinkage in value to the producers
of these two products as the result of the
this amount is, yet it does not, by any
means, represent the entire loss these pro-
ducers have sustained from this cause
Had they received the $500 OOO,0 900 thus lost
~ years ago, they would have used it in
productive industry, and in this use dOu-
bled its value in 10 years; this increase
added to the yearly gain of $500 900, 600, would
at the end Of 20 years, have amounted to
much more than the total loss as shown,
so that instead of a loss, of $4,000, 900, 0OO
the result would have been net gain of
more than $4,000 600, 900. Adding the latter
amount to the total amount of interest
this class has been forced to pay on Dor
roWed capital on account of the low prices
of product, and the grand aggregate will
probably not be less than a round $40, 600, :
100000. In analying these matters and trac-
ing to final results, we reach astounding
facts, and may we'll cease to wonder at the
fact that we are becoming nation of de-
pendent paupers, while a few are piling up
mountains Of wealth. Picture in your
mind what would be the condition of our
farming class today if they were in possess
sion of all the wealth and prosperity the
use of the lost 800 600 600, 900 would bring to
them. Would there be any cry of hard
times? any distress occasioned by the
forced idleness of millions of working men?
No. verify! Prosperity would be every
where in all lines of business. Then,
when We reflect that all this wealth. and
prosperity, this progress and happiness has
been robbed from the producers by legis-
lation enacted by congress, what name can
we apply to the authors of the crime that
will fit their action better that that of
traitor? The decentralization of silver,
however. was but one act in the drama
which includes several more equally as in
Famous, by the force of which the con-
sp1rators have figured to enslave the world
The Hazard letter of 1862 to the American
bankers, explains it all when it asserts
that by getting possession and control of
the finances OF the country they could con-
troll labor and everything else For 30
years the financial policy of this country
mas been dictated by English bankers, en-
ploying our own bankers as their agents
TO work their damnable schemes through
congress. Our greenback currency was as
good as gold, and would buy lust as much
OF any commodity gold. The $50, 900 900
issued by the government have been as
good as gold from the day they were issued
I'LL the present time. but after the first is
sue OF s6o'oooo 600 the bankers went ITO Wash
ngton and they had greenback issued
that was sham and soon deprecated in
Nalue II our congress at that time had
kicked the banking traitors out of Wash
1ngton or hung them, the government would
nave gone on issuing greenbacks as good
DIS goid, and would have paid the whole
war debt of 81, 700, 100000 with these green
packs, without borrowing a dollar or pay
ing dollar of interest on bonds But no
English and American bankers wanted
ana, market for their gold. and they in
duced congress to destroy the value
OF the government greenback currency in
order to compel the use Of their gold and
force our people to pay interest on bonds
BY virtue of this reasonable act the pro-
oucers or this country have been forced to
pay about twelve billion dollars in interest
ON bonds, every dollar of which is a direct
sW1ndle and steal, as the whole war debt
could as we'll have been paid with govern
fnent currency on par with gold, and the
Wnoie interest debt saved to the producers
Now, analyze this interest problem as we did
the silver question, and giving the producers
OF wealth the use of all the interest that
has been paid on bonds for the past 20
years, and we will find the net gain would
reasonably foot up to about as much as
the loss has been, or the saving and gain
by use together would amount to twenty or
more million dollars Another grand rob
berry by congressional legislation, at the die
tation of English and American bankers.
Is it at all strange that the mass of people
are so poor? 1t is not more strange that
they are so blind that they cannot discover
the truth?
Should we also study into the facts in
relation to the national bank act The act
for the destruction of currency (greenbacks)
as result of which the people have been
compelled to pay double interest on bor-
roWed money! per cent bonds and 10
to 10 per cent to the bankers-We would
find in tracing the results of these acts
as affecting the general prosperity, that
they are equally as infamous as the others
referred to.
I have talked with at least 500 farmers
and laboring men in the past three years
on these questions but have not found one
single person among them who knew sny-
thing about the financial part of any of the
questions. The reform papers have since
done a good work in the way of educating
the people, but there are millions still in the
dark who have no conception of the real
conditions that have brought the masses
down to the present ruin. The papers
reach probably from 100000 to 1000, 900
voters at this time; but with the most
arduous work the list cannot probably be
doubled in the next two years. The Peo-
pies party will want 100000 votes in 1896
to win if only two parties are in the field
You cannot reach them with the reform
papers, but you must have the votes or
loose the battle. The absolute facts will
convince them as it has convinced me and
million others. How can the facts be given
to them il they cannot be induced to take
a reform paper, millions being too Door to
subscribe, and other millions do not see
or know the necessity of reform I believe
that they could be reached with pamph-
let that did not cost over cents, as they
could take pamphlet at 10 cents when too
poor to pay a dollar for a paper These
facts, as Mr. Hall says, would take too
much space in paper for publications. for
this reason and that the papers do not
reach enough people 1 have been recon-
mending the leaders to get out the facts
fully in pamphlet form, and with the aid of
the industrial organizations get it into the
hands of the millions who do not yet know
the necessity of reform
II L had the means to procure the sta
no 20. ~.l@4s