The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1895-01-22


unknown. By cooperation and fixing
prices there will be sufficient money in
the channels of trade, and every dol
lar deposited guaranteed, and transact
ing our business on cash basis, there
can be no panics and the sub treasures
and postal banks furnishes the remedy.
PREMIUM ON GOLD.
Shrinkages in value following the
panic of 1891 up to the time Harrison
went out of power, was Is per cent,
and the shrinkages in values since the
fourth of March, 1898, is not less than
16per cent. The products of the farm
that sold for 81, 600 in 1890, now sells
for $3.50. Had gold gone to premium
of % per cent in 1890, the products of
labor would command as many dollars
to day as in 1890, instead of 80 per cent.
less.
REDEMPTION sHRINKS VALUES.
The redemption of all other forms of
money in gold increases their value in
the same ratio that gold increases in
value. A premium on gold of 80 per
cent. would increase the price of farm
products 80 per cent. and the people
could pay 80 per cent. more taxes than
now with a given amount of labor.
Those bond gold bearing debts would
pay this premium and they could pay
their taxes with 80 per cent. less of the
products of labor. Gold going to a
premium of 80 per cent means that
other forms of money has shrunk in
value 80 per cent, and not that gold
has increased ir value Those out~of
debt would receive 80 per cent. more
for their products of labor and pay
80 per cent, more on salaries with a
given amount of the products of labor.
APREMIUM ON GOLD A BLESSING.
A premium of 100 per cent. on gold
would advance prices 100 per cent. The
products of labor sold to pay the eight
hundred million dollars of taxes now
would pay this and leave eight hundred
millions dollars to expend for the neces-
saries of life. Gold and all fixed in
comes on 66 per cent. more valuable
than the products of the farm, for q
premium on gold of 200 per cent. would
advance the price of labor and products
so as to restore prosperity; and this
would force every dollar of idle money
into the channels of trade. Money
that has laid idle for the last three
years has increased in value 80 per
cent. AS the premium on gold advances
the value of all kinds of property ad-
vance and the value of other forms of
money advance in value, and holders
of money make haste to invest. When
money is increasing in value, holders
horde money. When money is decreas
ing in value they invest.
CONTRACTION OF VALUES AND NOT IN
FLATION TRUSTS
In 1865, when gold was worth &c per
cent. less than now, and it commanded
premium; the people were out of debt
and every industry run on full time.
AS we approached gold basis times
grew harder and values shrunk and
the money passed from the pockets of
the people into the vaults of the banks
and real estate holders were compelled
to mortgage their property to get it.
Shrinkages of values preceded the
piling up of a mountain of debt. The
creditors have a corner on gold, and as
long as redemptionis maintained values
will continue to shrink. No nation
was ever hurt by imitation of values,
but shrinkages of values always
brought hard times.
WHAT GROVER SAYS.
Grover says he will maintain gold
redemption at all hazards. Yes, Grover,
you were elected for that purpose, and
you have forced 16 per cent. more of
the products of the farm into England's
fixed incomes. By redemption you
have cheapenened cotton $15 on the
bale and 35 cents on every bushel OF
wheat. The dominating class of Eng
land are under everlasting obligation
to you, as you have assisted them to
increase the value of their credits two
billions, two hundred and forty mil
lion dollars since you went into Office.
Every time the money devil of Eng
land gives the screw a turn and
squeezes more of our expectation farm
products into their gold dollars. You
give the government screw turn and
squeeze more of the farm and the prod
uets of labor into every dollar and com
pei the people to give more of their
products to pay taxes. You are doing
England valiant service, and when you