The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1895-05-07

four billion dollars of gold and the
credit based thereon now measures the
valre of all the wealth and commerce
of the world and all the labor of the
world. whereas heretofore it required
all the silver and gold and the credit
based thereon to discharge that func-
ton. 1t follows as a natural conse-
ouence, that measured by gold, labor,
the productions of labor, land and per
sonal property are not worth but just
half as much in dollars and cents as
they were worth when measured by
both gold and silver as one standard
and that gold measured by labor, the
products of labor, land and other per-
sonal property, has doubled in value.
But if you will measure all values, ex-
cept gold values, by silver bullion you
will find that prices are about as high
as they W we're without any extra
neous or supernatural cause to control.
This fact, to the minds of the unsophis-
ticated, is conclusive proof that the
low prices are due almost entirely to
the appreciation of gold and not to the
over production.
The intrinsic value of all things re-
main the same, all things else remain
ing the same by nature. If the in
trinsic value of any article is changed
by nature, by law, or by any other
process, then the intrinsic value of sill
yer could be changed by law as we'll.
And If the intrinsic and commercial
value is one and the same, there can be
no doubt that the law-making power
can change the intrinsic and CONNER
cial value of silver and has changed it.
But proposition is, the intrinsic
value never changes. The CONNER
cial value of articles are varied in &C.
cordance with the law Of supply and
demand; and this law of supply and
demand applies to money as we'll as
commodities, and can be varied and
changed by favorable or unfavorable
legislation.
And there is nothing clearer, not
even the sun in it's MONDAY splendor,
than that the class who controls the gold
of the world to-day, is controlling the
price of commodities, lands, mules,
cattle and all other kinds of personal
and real property.
Suppose we owned one million OF
mules and these we're all the mules in
the world and the only beast of burden,
would any one doubt our ability to die.
tate the price of mules9
Suppose we owned twenty million
bales of cotton and this was all the
cotton in the world, could we not die
tate the price of cotton and control the
cotton market the world over?
Now, the class who own and control
the gold in the world, hold a much
more commanding position in the
business and commercial world than
we would in the case of the cotton,
Cotton is not the only staple or sub
stance out Of which wearing apparels
are fabricated. Wool, silk, alpaca,
hemp, and many other thing
are used for that purpose, but this is
not the cas- with gold because it is the
only measure of values, and the only
metal out of which money is made.
There is nothing clearer to u minds
than the fact that the gold class die.
tates and controls all prices within the
limits of the laws of supply and de:
mand, both money and commodities
retaining their influence according to
quality.
And this class of people today,
throughout the civilized world has the
balance of the world by the throat, and
if they do not choke or strangle the
world to death, it will be because man
kind, regardless of party, country or
conditions turn against the monsters
and drives them into outer darkness. To
day they have more than five hundred
million of redeemable currency in Cir.
culation, which they can present to the
government every thirty days for re-
demption, and have reissued the next
day for redemption again and so on
for ever
And having one of their agents at
the head of the government and another
at the head of the Treasury, they can
compel the sale of bonds to redeem
this ever returning currency for re,
demption until the bonds of the gov,
eminent would not sell for five cents
in the dollar, and until the property
of this country would not pay five
cents in the dollar of the bonds.
AS the waters of the ocean are taken