The farmers' union. (Memphis, Mo.) 1891-1895, 1894-06-21

For all shall Of eaFth's bounties share.
And none shall droop from want Of care.
The rich will not all powerful be,
For there shall be no poverty.
Wealth there shall mean yet something moro
Than houses lands and gold galore;
And they, the rich. the great viii be.
Who are most just who love the most human
lily.
Must tho Debt lie Repudiated:
According to the best information at
hand there Is o debt on the farmers
aggregating -, 127 ,626, 400, or o total
on farms, town and city lots of$5 $780,
493. 2O4.
Under the conditions existing when
this debt was contracted, its payment
was in the bounds of reason, but in
view of the changed situation of to-day
its liquidation really and truly ap-
pears beyond possibility.
Owing to Vicious Legislation. the
value of production has been reduced
within the past few years fully two
thirds, making it necessary now to ex-
pend three times the labor to pay q
hundred dollar OF Indebtedness re-
CURED when the bulk of the present
debt was contracted. The prices of
labor and all farm products have been
forced down by the rapid appreciation
Of gold under the Cleveland and John
Sherman system, while the debt re-
mains fixed in amount and also the
rate of interest, it being part of
the original contract.
Howmuchsoever the people may
derest and abhor reputation, the in
dieations now are that it is the only
way possible for the people to wipe
out their present indebtedness and get
square with the world again. Under
the present low price Of production
are very few of the mortgaged farms
that will produce enough, by the
greatest thrift and economy, to pay
the interest. Then in view of the re-
fusal of Congress to do ought to turn
the tide and increase values, how is
the farmer or land owner to pa: off his
moftgage? The same is true of NUM-
cipal Indebtedness in many cases, as
the power of the people to pay taxes in
in cities has also been reduced and the
increasing stagnation in business will
still farther depelte the sources of tax
alton.
The inevitable result must be the
reputation Of the debt. Such q re-
suit could be avoided if the monetary
system was so improved rs to give the
country the necessary relief, but there
is no hope for such legislation. One
IF two things must happen. The
financial policy that has disabled the
people from paying their debts must
be changed to an enabling policy, or
by absolute necessity the present debt
hanging over the country must 90 un-
paid.
AS an evidence of the ruinous de-
cline in values during the past six
years, it is only necessary to give q
few examples. In 1867 wheat gave an
average yield per acre of $23.O5. In
1893 it only yielded s6.16. How is the
farmer to pay debt contracted st the
price of wheat in 1867 by the price OF
wheat at the present? In 1867 corn
brought 1857 per acre and in 1898
only $7.63. In 1867 an acre of oats
was worth $16.O5. and in 1893 only
$500. In 1889 farm animals in the
| United States were valued at $50,
$50. 05S, five years later this valuation
had fallen off nearly five hundred mil
lion dollars. just think of this most
/ outrageous slaughter of values and
then talk about paying the debt of the
country! But again. In 1882 6.957,
900 bales of cotton brought 5000. 695..
500. In 1893, ten years later, 1900
! 600, one million more bales of cotton,
produced less than 1925, 600, 900. Here
is an increase of one million bales and
a fall off in the amount realized o.
nearly one hundred million dollars
/ These are only few articles of pro
| duction with the depreciation in value
Products and property of almost ever,
kind has deprecated in value at the
same ratio, and the debt contracted
ten years ago is multiplied three time,
! by the policy of the Government. ani
will to-day take three times the labo,
and production to pay.
If there is not legislation tending t.
restore the business and money condi
ton necessary to a proper adjustment,
Of values there is no other alternativ,
lett for the people than to wipe ou
the debt by reputation. The none,
power is the creditor, aud as the none,
power has forced the unnatural de
cline in value, the money power viii
be compelled to cancel this debt BY ,
profit and loss entry on the ledger
Dallas Mercury.
Bimetallism In France.
The United States or France, which
is really the land of the free and tn,
home OF the brave:" This question i
brought up by q comparison of on
financial situation with that of our sis
,ar renr,h1ic