The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1895-05-14


thirty million dollars worth daily.
The common experience of mankind
the world over, demonstrates the fact
beyond doubt, that prices of all agri-
cultural products have declined more
rapidly the last two decades than the
prices of other commodities, and that
the decline has been more rapid since
1878 up to this hour than in any other
twenty years of our history.
And this decline in agricultural pro-
ducts has not been confined to this
country alone, but has been universal
throughout both the civilized and IN
civilized world.
This fact is almost conclusive PROOF
that the cause of the fall in prices OF
farm products is general and universal
The fact that this rapid decline began
after 1878 all over the world, shows
that the cause was put in motion some
where about that period of the history
| of the world. The reason of low prices
| cannot be local, because the markets IN
which we sell our products are no
local, and prices are the same the world
over, less transportation and the cost
of sale.
The caus must have been as general
as the results and the decline in prices
is universal.
And with the research and investi-
CATION we have been able to make, we
have been unable to reach any other
conclusion than that the great leading
cause was demonstration of silver in
this and other countries since and be-
fore 1873.
Before silver was stricken down in
Europe and the United States, its in
trinsic and commercial value was the
same, and its bullion, commercial and
money value was equal to the bullion,
commercial and money value of gold.
The output of both metals has been
about equal in value since their use as
money sixteen to one.
The output of gold has not, is not,
and will not be equal to the money de-
mands for that metal. 1t has taken
both metals to supply the monetary de-
mands of the world since Abraham
gave flour hundred sheckles of silver,
current money with the merchant, for
the field of "Machpelah" for a burying
place.
This is denied by none and admitted
by all. The output of both gold and
silver is less now than eve before, and
the demand for both metals to-day as
money is greater than ever before.
Population and business demands for
money have been and are increasing
all the time, while the output of gold
has continually decreased since the
discovery of the gold mines in Cali
fornia in 1849 and in Australia in 1852
and their failure to yield their former
supply of gold some fifteen years ago.
The restoration of silver to its none
tary throne, would double the money
metals both in quantity and value and
in some degree restore or aid in re
storing the price of agricultural pro
ducts to something like their former
standard.
1t would deprive the owners of the
gold both coined and uncoined of the
absolute power to fix and dictate the
prices of commodities including both
gold and silver.
1t would increase the amount of
money of final redemption to some ex-
tent at least in proportion to the rapid
increase of business and the increase
of population and commercial rela-
tions of the human family.
The restoration of silver as a money
metal at the ratio of 16 to 1 would be
a very vital, far-reaching and impor-
tant step in the right direction, and
would do much, very much towards
remonetizing, replenishing, rebuild
ing and restoring all industries in all
sections everywhere out on new lines,
in new fields and in the diredtion of
final and complete success in all the
departments of life.
But such a step would not meet all
the demands of the business world,
nor accomplish all that is needed and
desired in an onward and upward
move. In order to start out on the
royal road of success with hopes and
prospects of ultimately reaching the
highest point or the mountain of per-
manent prosperity, and to do absolute
justice to both the debtor and creditor
class, regardless of the whims, notions
and vaporings of the creditor class and
annuitants, something more will have
to be done. The financial structure of