The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1895-01-19
CECIL FARMERS CLUB.
REGULAR MONTHLY MEETING AT
COL. E. w. MOVES NEAR
PORT DEPOSIT.
Discussion of the Finance Question on
Col. NOyeS' essay. The Power
of Money to Cypress.

f'Sit
inst Al eleven o'clock the President Mr..
Thos c. Bond directed the call of the roll of
members, when the following responded to
their names, Henry S. Coudon, A. j. Mchiner.
Geo. W. Sutton. Col. Enoch Noyes, Col. John
Il. Bond, John p. Wilson. Thomas c. Bond
L. l.. Duyckinck, William L. Gillespie, r. T.
Waters and H. r. Torbert. The visitors
present by invitation We're Mr.. Robert II.
Hodgson of Oxford Pa, and Mr.. Thomas
Fasset Of Cecil county.
The minutes of the last meeting having
been read and approved rs II matter of un-
finished business additional time was granted
to the Committee on the Collection of data
on Poll Tax Laws in other States.
There being no reports of experiments, the
essay being in order. Col. Noyes read the
following paper,
THE POWER OF MONEY TO oPPREss
The province of money is, in its represent
ative and eXchangeable character. Com
mercial intrinsic value has never been
considered since money was selected us u
medium of exchange.
pDp'f'''S
more intrinsic value than gold or silver. The
money OF the past has varied so in descript-
i've quality that it is hardly possible to enum
crate its different representative qualities.
Iron, leather, shells, cattle, bark of trees,
copper, gold, silver, paper, tin, wood, ETC., at
different periods have been used in exchange
in the way of money, barter, or exchange
~: a. T
the power OF money to Cypress never extern
sively existed when IA cheap and sufficient
medium in the way of exchange was selected
to represent the products of labor, while on
the other hand. the power of moneyto oppress
is only possible when "A dear article has been
chosen as medium, as gold, for instance, the
present medium in vogue in this and Euro
pean countries. made more painfully manifest
in this country than abroad, for here under
the suicidal policy Of our gold bug subsidized
administrations, who have met these obliga-
tions in gold instead of silver as other coun-
tries do. This is why the gold is continually
leaving this country, made still more painfully
manifest when the balance of trade is against
us as now, and will be when n gold measure
is the consideration. We are compelled to
accept when we buy it with our products. the
fruits of our labor, which can not be profit
ably grown when measured by gold stand
ard Of money.
The definition of money explains it. Money
defined is an important instrument of asso-
citation and combination in society. 1t is
almost impossible to overestimate its power,
or to eXaggerate the disadvantages which
follow from its absence, or from a deficiency
in its supply Il will remark as now.) 1t is
the one thing which is acceptable to all men,
and in exchange for which they will give any
commodity which they possess. Listen)
Labor being the cause of all wealth, the
advance of any nation in material prosperity
is dependant upon the extent to which labor
is employed and directed to productive results
(HearD The presence of a large supply of
money in country must therefore exert an
important influence upon its advancement in
prosperity by furnishing the means where
with labor can be paid, and then preventing
its waste.
1t appears then that large supply of
money in country which we had in the
ffties, and since, to 1873, insures material
prosperity; and small supply the reverse,
which we have had since 1873. In the latter
case, made more powerful to oppress when
held from productive industry as now by the
banks still more powerful to oppress when
under "a gold standard, The money held
from productive industry is increasing in
value under the gold standard fully 9 per
cent yearly, which signifies that the price of
our products, the fruits of our labor, have
fallen in price measured by gold; 8 per cent
i'll the last year. This condition will apply
to all commodities, he it silver or otherwise,
| trust this statement will make clear why
money is held in the banks. 1t is more safe
to hold it than to loan it on falling market,
when it is enhancing in value, and further
more, labor being the cause of wealth, the
laborers, being the sole producers of wealth
and wealth paying the taxes; the sole profits
Of labor employed to productive results. 1t
must be admitted then that the laborer pays
the taxes, for there can be nothing to tax
until labor is employed, and no taxation
until the laboring man produces something.
A poll tax would be an injustice, simply
because it would tax the power to produce
which lies in the bone and muscle of the
laboring man.
The burden Of taxation, rs it is understood,
rests almost wholly on the producing classes.
The farmers, owning less than one quarter
of the properties Of the country, are paying
75 per cent of the taxes directly, and export
ing So per cent of the products to other
countries, at prices fixed abroad and COM
PEELED to buy where they do not SELL this is
another example of the power of money to
oppress, and while perhaps there would be
no member of club more benefited than the
writer when labor is employed all the time
and at large wages, | cannot see why the
farmers of this country who produce SO per
cent of exports to other countries, and make
this condition of prosperity to the laborer
possible, cannot be allowed to buy where they
sell their products, thereby placing the farm
ers in more favorable position to meet the
the obligations Of labor applied to pro-
duotive results AS it is now, the farm