The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1894-09-25

the world. In order that prices, upon
which depend the uninterrupted em
ployment of wage earners and the
capacity of business men and agricul
turists to meet their moneyed obliga
tions, may not be a~rtificially pressed
down for the benefit solely of a coterie
of money lenders and people with fixed
incomes, it is absolutely necessary that
the quantity of our money should
increase pari passu with demand. By
means of falling prices profits which
should come to the enterprising pro
Queer are absorbed by the lender OF
money. Thus the working bees of hui
manity both employers and employed,
alike brain workers and hand workers
are paying an ever increasing tribute
to the drones.
THE CLASSES BENEFITED BY Low PRICES
AND DEAR MONEY.
When people see that general prices
are falling and think it an advantage,
they do not perceive the enormously
important consC qlences lying con-
cealed in the fall. They do not perceive
the converse of the proposition-name
ly, that what is really happening is
that money is becoming dearer. To
say that prices Of property and com,
modities are coming down is to say
that money is going up. The only
classes benefited by this-and they are
benefited uDjustly-are the classes that
have lent money at interest and are
living on fixed incomes. Their only
products" being bonds, mortgages and
money, they gladly see these rising in
value by the fall of general prices, to
the extreme detriment of industry and
commerce.
To my mind, therefore, the very key
stone of the arch of national progress
is a s%uffciency of money, and for this
country a ''suficiency" means a con-
stantly increasing quantity. Without
such increase all the factors that go to
make up this great arch must tumble
in confusion to the ground. In the
presence OF a money famine the most
consummate craftsmanship and the
most intelligent business foresight ara
more helpless than in the presence of
an all pervading and consuming pestil-
ence, for the horrors even of pestilence
may be mitigated and its ravages staid
by the manifold assuaging offices and
all commanding power of money. For
the absence of money nothing avails.
To attempt, whether with or without
tariff, to cur national prosperity
without a sufficient quantity of money
to attempt to float ships without a
proper depth of water or to conduct
passengers and freights over railroads
without a suficiency of engines and
or ever a sufficient number of
rails to constitute a continuous track.
While, therefore, not underestimate
ng the Importance to the country of a
ull recognition of the protective prin-
;iple, l hold that the tariff and all other
ssues are in the nature of the case
to the great and far-reach-
ng question of the money supply. In
his conviction l believe the people of
Nevada to a man-and to a woman
re heart and soul with me.
So long as the party to which 1 have
heretofore belonged was moving in the
Erection of a solution of the great
monetary problem by giving the coun-
ry a steady increase in the quantity
# money, I was bound alike by per-
onal conviction and by duty to my
constituents to give that party my
Import. Although I did not believe
he amount Of such monetary increase
o be sufficient to overcome the ever
ntensifying contraction set on foot by
he characterization of silver, I was
to take, for the time, the best
hat could be got and await the ma
urity of what l hoped was a growing
on the part of the Republi-
party to finally place upon its ban
yer the motto of free coinage of silver
gold, without discrimination, at
be long established American ratio.
EsPoNsIBILITY o INDUSTRIAL DRY
RoT AND COMPULSORY IDLENEss.
The situation is wholly changed
7hen the Republican party reverses
be policy which for Is years it had
maintained and by it's official vote in
9th Houses of Congress relegates the
Ountry to the single gold standard,
nth all that that implies of industrial
ry rot and compulsory idleness among
he people. While it is true that the
Democratic party must share with the
republican the responsibility for that