The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1894-05-22
ONLY TRAMP.
NO. Is.

Written for the FARMER, by
g. Ed, Kestler, Concord, N G.
The contraction of the currency is
the curse of the nation. The volume
of money in circulation is too small.
History shows that when the greater
this volume per capita the greater the
prosperity. Just think of it, only about
$25 per capita in this grand and glori-
ous American nationl Averaging each
family at five (mine is not quite so
large as per census, we find that there
is only 1925 per family. Is not this
startling9 Why, the war cursed land
of France has $45 per capita. See the
i~ncalculable riches of the Vanderbilts,
Jay Gould, and few other m~illionaires
and then see the millions with only
$25, and some of us have not got even
that much. Gaughter.) Why, Jay
Gould's children has as much as a
whole State full of poor folks like
some of us. The story of Lag
sight in these days. The rich, up
upheld by a government getting richer
and the poor oppressed by the same
government getting poorer. Again,
this contraction of the money causes
thousands of failures every year. In
1889 there were in this country 13 227
failures, involving yer $412 500, 900
because of this system. Up to the
seventies all civilized countries received
at their minis both gold and silver at
affixed value, and gaveyou in exchange
for such good money. Between 1871
and 1875 every civilized country re-
fused longer to receive silver. This
demonetized it and reduced it to a COM
modify. This greatly contracted the
currency and blessed the bondholders
and national banks and cursed the
working man. IT the money of the
world was doubled prices would ad-
vance, and if one half of the money
was destroyed, prices would go down.
If I at a certain time agree to pay a
certain amount of money, and when
the time arrives one half of the money
has been destroyed would it not be
harder to get the money to pay the
debt than before9 This is contraction
of the currency, and those making a
debt before this would of course have 10
work longer than at the time the debt
was contracted. To quote from good
authority: "a bond that cost so cents
In coin during the war is now worth
81, 80 cents. More than one half of the
national debt has been paid, yet to day
it will require more days of labor and
more bushels of wheat to pay it than
at the close of the war. Before 1875,
Notwithstanding the war cost eight
billions of dollars, the country was
prosperous. Since then the decrease
In labor and it's products has been 33B
per cent, and this caused by the con
traction of the currency. Give us
more money and everything will re
vive and we'll return to the good old
times when labor was well paid ard
prices were high. More money makes
more work. The question prohibiting
the alien ownership of land does not
need very much logic or very many
figures to prove the benefits to be de
rived from such a condition. Aliens
own over 261 millions of acres of land
here. Calculate this at even 81 per
acre and we have about one billion and
forty-four millions Of dollars. This at
8 per cent, makes over eighty three
millions of dollars that annually leaves
this country and goes into the pockets
of foreign lords.
At this rate it will not be long until
we will be like poor fated Ireland-the
slave of foreign lords and corporations.
We pass resolutions daily, almost,
offering sympathy for Ireland
poor, down-trodden Ireland-because
she is under the power of an alien
money element; but, sirs, we had bet
ter look to Our own interests in this
line. One-fourth of our beautiful,
boosted land is now owned by foreign
ers, and the sales are increasing every
year.
Again, give a man his own home and
it is a great means of establishing the
stability of government. He then
will love the stars and stripes that wave
over his own home and, if need be, will
fight for the safety of that home. The
more homes, the greater the nation.
These English land owners care moth
ing for the government so long as they
reap a revenue from US. What a grand
thing it would be to have this great
amount that they get in the hands of
thu nnonln nf 4hin nnr,nAnu