The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1894-04-10

any foreign pO"0A'
outside of Western Europe there is
M norton of the habitaole globe out
rses or ia willing to use silver money,
ond ia DESTROYS of trade and commerce
with countries which recognize u,
This two thirds of the globe will not
a 40 per cent. discount to do business
a gold basis with Western Europe
vban thew can bring their silver
monev to us and use it at par. Let us
on tn silver. These other silver coun
tries buy their manufactured goods
from Western Europe and from Eng
land in particular. Why cannot we
make these goodsG When we go to
silver we can then form an nterna-
tionsl treaty with them hat in consld-
GRAFTON of our receiving their silver
money into u country at par as a
legal tender, as we did the Spanish
silver prior to 1857, that 1t shall be a
f,1II legal tender now as it was then In
case they will pass laws permitting our
manufactured goods and the produc-
tions of our soil to enter their ports at
a lower rate of duty that they shall
give to Great Britain, Germany or any
gold power Of Western Europe, defn-
ing in the treaty what percentage of
reduction we shall have over those
countries and we will at onc9 have
driven all Western Europe out Of this
field of trade and absorbed it ourselves,
when Europe will have no labor to give
her people, no food to feed them, and
no material to make clothing to cover
their nakedness, and she will have to
send III her ships empty, except with
gold to buy these materials to keep her
people from perishing; and this money
brought to us will be used to cancel our
European debts and make it every
year all the more financially dependent
upon ourselves. Western Europe will
then be in our power the same as in
the time of the famine, the surround
iug nations were in the power of Joseph
and carried their money TO Egypt TO
buy corn in order to exist. Ind gold
will no longer be the exclusive asis Of
ell values.
It is claimed that bimetallism will
drive all gold to Europe. This claim
was made in 1873, but silver coinage
since then has never had the effect to
lessen the amount of gold in this
country Money goes from here to Eu
rope in order to pay interest, because
on the trade balances Europe has to
send the balance to US, as the balance
is in our favor; but the public indebt
edness of this country in railroad mort
cages is S. 600, 900, 600 and yer. Local
public indebtedness So. 600, 600, 600. Tue
most of this is owned in Europe, S.
coo. 900. 600 Is less than the tOtalamount
that we owe Europe. So, 600, 600, 600 at
five per cent. interest is four hundred
million dollars annually, Or$197, o. 0 200
annually larger than the surplus of our
exports over Our imports, and as we
go to a gold basis prices will fall and
reduce the sum received for our ex
ports, while the interest annual output
will each year increase, making us
more dependent on Europe until we re-
sort to bimetalli5m and adopt the
course here suggested, which will drive
her to bimetallIsm to restore her lost
trade.
Il will be seen that this question to
Europe of our financial policy is more
vital to her than any we could pursue
ON tariff, as her interest now annually
absorbs twice the amount of our bal
ance coming to us from all foreign
trade, and whatever we make in our
foreign trade by either course of tariff
she takes. We have been foolishly
concerned about free trade and tariff;
let us bury those questions for a while
and work to get a price for what we
grow and make ourselves independent
of Europe by paying off our debts to
her as soon as possible.
II those who have been Democrats
ever desire to see free trade in this
country and monopoly destroyed, they
can only bring it about by following
up other questions advocated by the
Peoples party after bimetallism and
more greenbacks have been secured,
and thereby restore prices and pay our
debts to Europe and New England.
Government banking will produce a
revenue of $500, OOO. coo annually to the
government If it pays three per cent.
on money deposited and loans it at
four, after paying all running ex
penses as much more can be obtained
from railroad operation by the govern