The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1894-10-09
WHO ARB THE ADVOCATES OF
CAPITALIZATION

papers, 1 see that they charge the ALI,
ance and Populists with advocating a
centralized government. What do they
mean by this charged That the ALI
ance and Populists advocate a system
of government that takes the power
from the people and places it IN the
hands of the few. A Democratic gov
eminent means a government or the
people, by the people, and for the peo-
ple-when the power is in the hands OF
the people-when the people rule and
control their affairs, with no power in
existence to interfere. Democracy
then means the rule of the people and
p~lutocracy means the rule Of the teW
without regard to the interest OF b
masses. Having defined Democracy
and p~lutocracy. let us see where the ALI
ance and Populists stand: If they are
the advocates of a centralized govern
ment, where the power is taken from
the people and placed in the hands OF
the few, the sooner these organizations
are buried the better it will be for the
people.
PRESENT CONDITION OF HI COUNTRY.
What is II the condition of this coun-
try and~fhe civilized worlds We see
the power to control the output Of the
farm, mine and factory of every coun-
try placed in the hands of small class,
the creditors whose head center IS n
England. How did this class get this
power2 Tt was coming to them Oy
narties in control of this and every
government on the globe, farming
the medium to a class and they loanlng
this to the people at a rate OF interest
twice as great as the accumulatlVe
power of labor on the farm, IN h mine
and factory. On what condition was
this money loaned3 Principal and In
terest was made payable in gold. Why
did they make principal and interest
PAYABLE in gold9 Gold was the scarce
kind of money, and on this it was the
intention to get a corner. What was
the effect of making all debts payable
in gold9 It increased the demand for
this metal without increasing the sup
DIV. What effect had the increasing
of the demand without increasing the
suppIyY The value of gold was en-
HANGED in the same ratio that the de-
mand was increased. How does the
creditor class increase the value of
gold9 By reducing the value of labor,
the output of the farm, mine aud fac
tory. How does the creditor class
shrink the value of the output of the
farm, mine and factQry9~ -,
Having a corner on gold, and nearly
every nation in debt to them, and this
made payable in gold, they demand
this metal (Which they have In their
vaults) or the products Of labor at the
price they fix. How much have they
reduced the price of farm products
since 1873Q Over fifty per cent. How
much has the gold-bearing debts been
increased since 1879 Over fifty per
cent, and the debts are on the increase.
How much has gold increased in value
since 1902 Thirty per cent. What
effect has this on the debtor and tax
payer? They give 80 per cent. more Of
the products of labor to pay debts and
taxes than in 1890. Products of the
farm which would have sold for $1,000
in 1890, now sell for 800.
How are the creditors benefited by
this shrinkage in value of the products
of laborR It squeezes more of the neces-
saries and luxuries of life into their
dollars and incomes. How does the
creditors reduce the value of the farm
products in this country9 By pricing
the cotton and wheat exported and
sold in competition with other nations
in debt. What effect has the pricing
of cotton and wheat in Liverpool on
the minor farm products at home7 1t
forces the price of the non exportable
farm products down to the level Of
cotton and wheat. AS the farmers can
not force the price of wheat and cotton
up, homa competition among them
forces the prices of the minor products
down. What effect has the shrinkage
of values on the farmers9 1t reduces
their margins of profits and they have
less money to expend. What effect has
this on the manufacturers The manu-
-f~acturers are dependent solely on the
home markets, and as the farmers have
less money, the manufacturers are
compelled to sell cheaper and manufac-
ture less. How does this effect LAHORE
The manufacturers reduce wages and
~riNos an6 labor ctriHoc on6 invested
capital and labor fights like two Kill