The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1894-11-06
THOUGHTS FOR THE PEOPLE.
BY JAMES
No. 2.

8NSR
Correspondence of the Progressive Farmer.
docs the promise to pay add to the
value of the representative of value2"
The promise to pay does not add to the
value of the promise to pay. In round
numbers there are eight hundred mil
lion dollars of promises to pay and less
than n hundred million dollars Of
gold to redeem them. This would leave
seven hundred millions of promises to
pay without a redeemer. 1t is childish
to say a promise to pay something you
do not possess adds value to the prom
ise. If there was a dollar in gold de-
posi~e ed for every dollar of promises
issued, the promises would be honest.
To promise that which you have not
and from the nature of things you can,
not get, is dishonest. The promise to
pay is inserted to create a demand for
their gold on which they have a corner
and when they increase the value Of
gold, compel the government to In
crease the value of all the promises to
paw. Since Grover Cleveland went
into power the owners of gold have in
creased value IA per cent. by shrinking
the value of the farm, mine and factory
ii per cent. If there had been no
promises to pay, gold would have in
creased in value IA per cent. by going
to a premium of Il per cent. and other
forms of money would have not in
creased in value and the products of
the farm, mine and factory would
command the same number of dollars
as when Grover assumed the role of
President. As it is you must give IA
per cent. more of the products of labor
to get a dollar. This has deprecated
the assessed wealth of the country over
nine hundred million dollars in fifteen
months The shrinkages in value Of
the output of the farm, mine and fac
tory since 1890 is about 80 per cent. or
two billion dollars on our assessed
wealth. The taxes of the Nation, State
and county is about eight hundred mil
lion dollars annually. You pay two
hundred and forty million dollars more
of your products than in 1890, If there
had been no promises to pay and gold
had gone to a premium of 80 per cent.
you would save two hundred and forty
million dollars on taxes annually.
The creditor class of the world had a
corner on gold and they demand that
the governments of the world keep
their gold on hand to redeem promises
to pay, and when they increase the
price of gold by getting nations in debt
made payable in gold, they demand
that each government increase the
value of all other kinds of money and
help them to rob the people.
HOW CAN WE GET A BETTER PRICE FOR
OUR PRODUCTsR
Establish improved sub treasures,
postal banks, stop competition for En-
glish gold by putting a prohibitive
tariff on all you raise on the farm, mine
and factory in sufficient quantity to
do you, and secure to yourself the
home market, cooperate AID price
your products and good prices will
force the money locked up into circu-
lation. When foreign nations have ex-
hausted their supplies they will be com
PEELED to pay your price for whatever
they need to supply any deficiency.
You consume 90 per cent. you produce
and your wants are not half supplied.
You had better sell the 90 per cent. at
a good price and give foreigners the
other s per cent. than to sell all at a
loss. 1t is competition with the pauper
labor of the world for English gold
that is forcing prices down and ruin
ing every industry. Cease to be par
tisans and be men, assert your rights,
place yourselves where you can control
the price of your products, vote for
your interests, CD operate with your
brother and you will get good prices.
WHAT REGULATES THE VALUE OF A GOLD
DOLLAR?
The value of all commodities, I'M
fettered, is regulated by the demand
and supply and when cornered is regu
lated by those who control them. Gold
is a commodity subjected to the same
rule as all other commodities. The
creditor class of the world have a
corner on gold, the result of a noun
tain of debt made payable in gold, and
they are able to fix it's value. AS the
debt increases the competition for this
metal enhances it's value. Competition
for gold forces the prices of exportable
products down and regulates the value
of gold.