The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1895-01-15

UUVoE0O these ~
that If they could have onlv . "Ofds
the American workmen in .eached
meaning what a blessing it wons fQl
been to our country in those nave
increasing production and nroa1 yS Of
which came to an end in 1900 Gritty,
that grand statesman, William VI It
ley, could have heard these 4vAln
spoken within the sacred nroo; "OFda
British learning how he wonId Of
rejoiced to find the greatest poon lave
thinkers of England thus recoou:t
the force of the argument of the eaAag
est practical statesmen in tbo 0,VaE
Worldl NeV
THE FALL OF PRICES
Again on this question of the f.r
prices, Prof. Foxwell said. Tb ~
cent coal strike and the demand IL
living wage may serve to remind W.
the serious social difficulty involve5 3H "
a fall of prices. At first, no doust
the loss is borne by the employer. bn,
as the margin of profit melts avo-
trade becomes depressed and emnl..
ment contracted, and money voos.
have to fall. If prices are to fall ooS
tinuously no power on earth can ~.
vent some fall in money wages r..
all very well to say that wages mus
govern prices, not prices wages, Br.
prices are governed by the moneta,r
supply, and unless the unions can !.
duce Parliament to remedy the mona.
tary contraction, they will find il vol,
attempt to maintain prices. It will h,
said, perhaps, that when prices o,s
falling the lower wage will buv q,
much as the old wage did with hipba,
prices. This is true, but it is not essv
to get men to understand it. Notbin,
is more difficult in practice than ths
adjustment of wages to a falling scss
of prices. Economically it looks sin.
pie enough; politically it may mean
revolution. So, if we look at the crv
for a living wage in one sense this
reasonable enough. There is a mini.
mum of comfort below which it i
neither right right nor economical to
work human beings"
ALI honor to Prof. Foxwell! Tbsta
British political economist should 80
boldly enunciate this doctrine is indeed
a sign that the old Manchester school
of economics has seen it's best days
The Golden Club to day does noJ nun.
Der among its members a single poIt
aheconomiet of any consequence OF
standing. The men, who, like Prot
Foxwell, are up 10 date, have long
since consigned the old and ANTICIPATED
fiction which Prof. Summer and David
A, Wells preach at home to the sp
ulchers of exploded thrones, common
errors and fallacies which the credulg
and supinity of mankind have per.
mitted from time to time TO flourish.
G LID THE ROOT OF THE EVIL.
Politically it has, indeed, meant
the revolution in the United States
One consequence of the further appi
cation of gold has been to intensity the
agricultural depression all over Europe
and especially in England. Most Of
the land charges are fixed and they
weigh more heavily upon the land
owners as gold rises in value.
So, again, rents will become more
enormous and further reductions must
follow. In short, the active producer
in every branch of industry rum The
risk of finding himself, as years goOa
overloaded and in the end crushed BY
the weight of an ever increasing bur
den.
"In short, said Prof. Foxwell, 1.-THE
root evil of the present monetary at
uation is the continued appreciation
gold, depressing, as it does, the enter
prise of the industrial class, the great
borrowers, without really improving
the situation of the comparatively ID
class, the leaders of capital"
care you making much headWayT
Eyes, we have done better this year
than ever before. You would be sur
to find the number of prom,
inent people taking up the subject ana
looking into it carefully. Once thsI
do this we capture them. Mr.. Baltou
has been a tour of strength to us. MI
is likewise an acquisition
,''Sir Henry Jones, one of the m0'
popular men in England, is now %
our side. Lord Rosebery admits NE
an important question. Still we don'
feel much like Dragging. There =
uO1p hJ1ov man dIgllRe6 ~