The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-03-09

Washington, March 8-The majority
Of the special committee Of the House
appointed to inquire into the causes Of
the prevailing agricultural 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 important industry; that
the values OF land and farm products.
unless under exceptionally rare condi-
tons, have deprecated steadily as the
purchasing power of the dollar has in
creased. But while the values of the
property owned by the American farmers
have decreased in thirty years from
nearly one-half OF the total wealth in
1850 to less than one-fourth in 1S9O-of
Which 30 per cent. is now under mort
gage-taXes have steadily increased and
debts now require four times the labor 10
be PAID than was then required. The pur-
chasing capacity OF the dollar to secure
the farmers land and his produce has
increased four-fold, while the power TO
pay his taxes and debts have remained
at a 6tandStill.
I'm 1879. wheat sold from sI55 to g %
! a bushei according 10 Spofford's altman,
acl; in New York, in 1894, it sold at fifty
cents"
Class Legislation.
! Discussing the causes Of the depression
| the committee saws.
"Class legislation of the worst charac-
ter cumber5 the statute books. and has
I been carried on to the detrinent of ag-
ticulture and its dependent industries for
/ thirty years. eliminating in the crime OF
i ias age-tne decentralization of silver IN
The decentralization of silver vas q
bold stroke in the interest of capital that
has reduced the value Of every product in
I the world. This is c0ncluSiVely proven
( by the fact that just as silver has depre-
ciated, in like proportion have all other
values fallen in the gcale. Silver bullion,
today, has the capacity to purchase as
much wheat, cotton. pork. corn and lard
and every other commodity that il ever
had; therefore the depreciation OF the
ton of every article under the sun with
one single exception-the gold Of the
! Shyloch.'
( only unequal, but as for the past thirty
I years administered in this country, Is
most unjust to the consumer, and has
built up trusts. combines and gigantic
! immense wealth at the expense of the
/ people. but who have assumed to control
and direct legislation so as to perpetuate
! their power, and crafty their greed, The
tariff bears with undue weight upon the
I producer of agricultural staples as Il
forces him not only to buy in TIT dearest
! marker. but to g., sell in open competition
with the worlds lowest prices.
"The AGRICULTURAL depression is still
/ further augmented by the sale of futures
I on our stock exchanges, where the srair
! gamblers grow rich by farming the tele.
/ graph wires and selling wind while the
honest and Industrious toiiers on the
prairieS reap the Whirlwind Food adul.
( teratfons add millions annually to the
! farmers losses and compel him to meet
/ in competition the thief To these might
I be added other causes. but the principa'
! ones to which agricultural depression ant
| stagnation in trade Is due have beer
I cited.
The 1femedy.
! The remedy lies in remedial Legislation
and until that is secured relief will no
! come permanently. To secure relief w,
! suggest;
! 'Ftrst-That silver should be remone
I TIED at the ratio of 16 to l.
''Second-That SO long as The Dresen
unjust and unequal system of protection
continues that agriculture should receiy'
! its just proportion. and as this canno
be secured bv a protective tariff, that :
bounty on exported as=riculturai staple
should be allowed. similar to that on
fish in 1879 and for which John G. Cal
houn voted.
''Third-That gambling in futures SHOULD
/ he prevented by law
"Fourth-That a national pure food iaY
Should be enacted''
A minority report is being prepared.