The Louisiana populist. [volume] (Natchitoches, Natchitoches Parish, La.) 1894-1898, 1895-03-22
THE CAUSE OFDEPRESSION
Report Of the Massachusetts,
Committee.

Boston March S.-The majority
of the special committee of the
house appointed to inquire into
the causes of the prevailing agri
cultural depression has prepared a
report in which it says: 1T is
unnecessary for the committee to
enter into or dwell upon the fact
that agriculture Is depressed in
every branch of this most impor-
tant industry; that the values of
land and farm surroundings, un-
less in exceptionally rare condi-
tions, have deprecated steadily as
the purchasing power of the dol
lar has increased. But while the
values of property owned by the
American farmers have decreased
in thirty years from nearly one
half of the total wealth in 1860 to
less than One-fourth i'm 1890, of
which 80 per cent is now under
mortgage, taxes have steadily in
creased and debts now require four
times the labor to be paid off than
was then required. The purchas-
ing capacity of the dollar to Sc
cure the farmers land and his pro-
duce has increased fOur-fold, while
the power to pay his taxes and
debts have remained at a standstill; !;
In 1873 wheat sold from 81 50 to
81 25 a bushel, according to Spot
ford's Almanac. In New York in
1894, it sold at so cents"
Discussing the causes of the de-
preston, it says: 'Class legisla-
tion of the worst character encum-
bers the statute books and has been
carried on to the detriment of ag-
riculture and its dependent indus
tries for thirty years, eliminating
in the crime of the age, the de-
monitization of sily er in 1873. The
demonitization of silver was bold
stroke in the interests of capital
that has reduced the value of every
product in the world. This1 is
conclusively proven by the fact
that just as silver has deprecated
in like proportion have all other
values fallen in the scale. Silver
bullion to-day has the capacity to
purchase as much wheat, cotton,
pork and corn and land and every
other commodity that it ever had;
therefore the depreciation of the
white metal simply means the de-
probation of every article under
the sun, with one single exception,
the gold of Shylock. The tariff
system is not only unequal, but as
for the past thirty years admins
tered in this country, is most un.
lust to the consumer and has built
up trusts, combines and gigantic
corporations that have not only
attained immense wealth at the ex
pense of the people, but who have
assumed to control and direct leg
islation so as to perpetuato theil
power and crafty their greed
The tariff bears with undue weight
upon the producer of agricultural
staples, as it forces him not only
to buy in this market, but sell il
open competition with the worlds
lowest prices, Agricultural de
preston is still further augmented
| by the sale of futures on our stOcl
exchanges, where the grain gam
blers grow rich by farming th'
telegraph wires and telling wind
while the honest and indIstriOui
toilers on the prairies reap The
whirlwind. Food adulteration'
add millions annually to the far
mer's losses and compel him tt
meet in competition the theft. IL
these might be added other causes
but the principal ones to which th'
agricultural depression and stagna
lion in trade is due have beer