The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1894-05-29

farm. mine and factory, and with a
mountain of debt made payable in gold
they will control the redeemer We
must get out Of debt and this cannot
be until we have destroyed the power
of the creditor class to fix the value of
gold and price the output of the farm,
mine and factory.
harry, l will give you my solution
or the money question. The wealth
producers must be the judges of the
value OF their service and must be able
to fix a price that will absorb their
share of the output Of wealth accord
ing to merit. The cotton raisers must
be able to say our cotton is worth 16
cents pound, and the wheat-raisers
to cay our wheat is worth 81 so per
bushel, and get it. The price Of cotton
fixed at 16 cents a pound, the money
Will represent the price fixed and will
have nothing to do in determining the
price. The cost Of production any the
output Of wealth must determine the
price fixed. As our ability to produce
wealth increases, prices will increase
so that each class can receive their
share Of the increased output. If in
one year we increase our ability per
capita 10 per cent. to Eproduce wealth,
prices must advance 10 per cent. so as
to secure 10 per cent. more dollars to
exchange for the increased output of
10 per cent. To increase our ability to
produce wealth 10 per cent. and not
advance wages 10 per cent. is to rob
the wealth producer of his share of the
increased output of wealth. Had
prices continued to advance since 1865
as we incre ased our ability to produce
wealth, the farm, mine and factory
would run on full time and the output
of wealth for distribution would have
run up to over sixty billion of dollars
annually. AS we increase our ability
per capita to produce wealth, the vol
ume of money should be increased in
the same ratio. When we have ad
justed our financial system SO that each
class can price their products there
will be no class interested in making
money scgrcer.
Harry says: THE more exchange
able value you can pack into dollar
that much the better" The creditor
class has packed 16 pounds of cotton
and two bushels of wheat into dollar.
Will the dollar be better when they
have packed 80 pounds of cotton and
four bushels Of wheat into it7 We must
free the Industrial class from slavery
by establishing an economical system
that will permit each class to CO operate
and price their labor and the output of
the farm, mine and factory and run
each on full time. The improved sub
treasury in some form, the postal
banks and protection of our industries
from competition with other countries
will impart to each class the ability to
price the products of labor
Shall the power to price labor and
it's products be restored to the indus
trial class, or shall the creditor class
continue to price them, is the burning
issue and reformers must meet it. A
failure on the part of the Populist lead
ers to formulate a system that will
secure this result and push it to the
front, demonstrate its practibility,
will lead to their defeat at the polls
and stave off indefinitely the emanci
patton Of the Industrial masses from
slavery. We have the remedy. Will
the leaders grasp the advantage they
possess, or will they make the issue on
minor questions7 All over the country
we hear the cry for relief for the toll
ing millions, Will the Populist leaders
heed this cry and formulate demand
that will give relief7
JAMES MURDOCH.