The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1894-09-25
SENATOR JONES TELLS why
c1vRs HIS REASONS FOR LEAV-
ING THE REPUBLICAN PARTY.

II is Now Under Goldbug Rule--There
Can Be No Prosperity Without a Due
Increase in the Quantity Of Money
Both Old Parties Pledged by Their
Leaders to a Partisanship With Euro
mean Money Lords--Only Through the
Formation and Success of Third Party
Can Any Great Reform be Accomp-
lished.
WASHINGTON, Aug. %, 1894.
Hon. Enoch StrotheT, Chairman Re
publican State Central Committee Of
Nevada:
DEAR SIR:-Having become firmly
convinced that the Republican party
organization is unalterably opposed to
the free coinage of silver at the Amerl-
can ratio of 16 to 1. or at all, except
with the consent of foreign govern
ments and at a ratio to be dictated by
them, 1 have to announce that lean no
longer act with that party.
have not arrived at this conclusion
without extreme regret. 1t is always
DdAUlu W SGNOI d5SOS4oS4OAAo " zig
standing, but fidelity to my own con
victions and my imperative duty, as 1
see it, to the people of Nevada who
have long and greatly honored me,
compel me to this course. To my con-
stituents I need hardly say that what
ever change has occurred in the rela-
ton between the Republican party and
myself is not a change in me. My
opinions are in every respect what they
have always been. I hold to, day with
all the earnestness of the day of my
election every one of the principles for
whose prior support in the Senate 1
was for the fourth time honored by my
constituents with a seati in that body.
+ am firmly of the conviction
that in the absence of a monetary sys-
tenn that will admit of the quantity of
money constantly keeping pace with
demand it is vain to expect progress.
In this age industrial achievement is
by aggregations of laborers. 1t is the
age of furnaces and factories without
number. These depend for vigor, and
especially for unbroken continuity of
operation, uponan institution unknown
to former periods Of hi tory-namely,
the time contract. Upon the degree of
accuracy with which the managers
and organizers of large establishments
and projectors of great enterprises can
make business forecasts will depend
the enormously important considera-
ton of continuity of employment not
only of those directly engaged in pro
duction, but of all who, whether with
hand or brain, earn their own liveli-
hood. Tdleness is the destruction, |
moral and physical, of a people.
The fate of mankind hangs upon the
question whether civilization can persist
while larger and larger numbers of PEG
pie in all countries are being relegated
to idleness. The compulsory idleness
of willing workers, of whom there are
millions even in times much more pros
porous than the present, is due to a
force that acts upon industrial society
like a deadly but odorless gas, which,
because of its subtle character, escapes
detection. In its methods it is as silent
as time, yet as memorable as death, It's
victims usually attribute their suffer
ings to every cause but the true one.
This fatal influence affects alike en-
ployer and employed, agriculturist and
artisan.
RAPACIOUs POWER OF INCREASING VALUE
IN THE UNIT OF MONEY.
What is this powers 1t is the rapa-
Gus and engorging power of an ever
increasing value in the unit of money
that is to say, in the dollar. When an
has been entered into requir-
ing the payment of money at a future
time, this is the subtle alchemy which,
without affecting any change in the
written figures, yet enlarges the burden
of the obligation by exacting from him
who has agreed to pay money-and all
business men are in this category
more sacrifice for each dollar than a
dollar represented at the time the obi
was made. This process para
lyzes industry and relegates to a pitifu-
full and c%orroding idleness multitudes
of willing workers. This it accomp-
fishes by producing an artificial and
unnatural fall in the prices of property
and in the products of labor-a fall not
from the natural operation of
the forces of supply and demand affect
ino the Dr0nortV and commodities hint
from a change in the relation existing
between the supply of and the demand
for money.