The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1895-01-26
This shows that the debt has increased
instead of decreased

comparisons in this line.
Now what is the condition of the farmers
in this country to-day and what effect is it
having on the material prosperity OF the
country? 1t must be admitted by all that
when the farms cease to pay profit to their
having painful experience of this fact, in
labor unemployed, factories silent, and
general depression. Confidence that great
political humhug, is further from anticipa-
ton than when the repeal OF the purchasing
clause took effect, or the change OF votes
last November, and why SO?
a few lines from the New York Tribune,
an anti-Populist, high protection paper,
reluctantly shows it. The west and the
south most especially agricultural, are upon
the ragged edge OF bankruptcy. In the south
The low price OF cotton has brought the
planter face to face with impending disaster.
lie has pledged his crops in advance for the
supplies for his existence and that OF the
Oakley. His plantation has been struggling
for years, paying 10 per cent interest upon
mortgage, the principal OF which he never
expects to pay, and he cannot now pay the
interest. [ will add, never under gold
basis. Then again were the letters of the
contract enforced, 80 per cent of the south
would be sold under execution. Those
who have loaned the money at one third
the valuation, do not now however want
the land. 1t Will not sell for the mortgage;
no one will pay rent Tor it. In the midst
OF the most fertile, the most favorable lands
i'll the world, the people are in the throes
OF starvation.
personal observation, | met conditions
favorable to the conditions existing both in
the west and south. While the farms of
Connecticut may not be encumbered to the
extent they are in other portions of our
country there are undermining influences
at work which will eventually end the
same.
stopping an hour at New Haven, Connec
ticut, met gentleman familiar with that
section OF farming country, some eight
miles north of New Haven, was interested
to know how the present owner of IA farm
that my father had inherited from an uncle,
was prospecting. His reply was given in
general way, that the farms were being
neglected, owing to the fact that their
owners were unable to pay for labor
employed to grow the general crops of the
farm, or to raise cattle for the market, and
that they were doing their work within
themselves. In the town of Lyme, my
native town, formerly an agricultural and
commercial town, engaged in ship building,
furnishing largely the old gentlemanly
masters of the London and Liverpool
West India trade now wholly abandoned.
The farming industry to use the language
of my brother, who many of you have met,
was simply as far as profit was concerned
thing OF the past, that the farmers in
most instances were not making enough to
pay their hired help. Farms that raised
really abandoned, growing bushes and
briars, instead OF cattle and crops as form
erly. \ sad picture to contemplate for the
writer who had farmed at a profit in the
tifties in said town.
Now where the value formerly existing
in these farms, where found, it is not hard
to solve that question In sixty New
York banks, with an aggregate capital of
S57, SO, 100, or $50, 1866 per bank, We
lind an average surplus and undivided
profits of 9i2, 234, 100 or an average OF
Sl,0I6, 7l9 per bank, with an average book
value of 1896 per share, average dividend
Ii per cent. 1t is not necessary to look
will Cypress when the few control the
money AS existing under our present bank
ing system.
Now what the remedy to insure material
prosperity. The bankers infer an individ-
ual banking circulation in the shape of
interest bearing bonds, principal and in
terest payable in gold Daniel Webster
emphatically pronounced against it. He
said: "A paper circulation, redeemable in
com, was the surest way to fertilize the
rich mans field by the sweat of the poor
mans brow
Jefferson was more decided Take the
power of issuing the money away from the
banks, and give it back to the people where
it belongs.
Andrew Jackson the same.
Events have satisfied my mind, and |
think the minds of the American people,
that the mischief and the dangers which
flow from National bank far overbalance
all its advantages. The bold effort the
present bank has made to control the gov
eminent, the distress it has wantonly pro-
duced, are but premonitions of the fate
which awaits the American people, should
they be deluded into perpetuation OF this
institution or the establishment of another
like it. How this applies to our present
banking system | leave for your considera-
ton.