The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1895-03-05
OUR FINANCES.
Something Wrong With our Financial
System or Ourselves-Whichi il It7
fanly3

System or Ourselves--Which is It7
Correspondence of the Progressive Farmer.
HUNTERsvILLE N. Q.
Need We compare the times or con-
dition of the farmers now with the ter
rible crisis in the business and financial
world of 1857, to see upon what the
farmers are standing and the enormous
burdens that weights them downi
Every day places one more burden
upon their tired bodies.
Has the time come when the farmers
or the father from which all general
business is the offspring, shall be made
to toll day in and day out for daily
bread and then not get it7 Many. yes,
hundreds of once we'll to-do farmers
are now bankrupt. The farmers, or l
should say the general run of farmers,
harn't enough provision to keep them
through another season. What are
they to do3 Mortgage the crop that is
to be madeH That is all that they can
do. They can't mortgage their farms,
they are already mortgaged, not only
their farms, but in many cases, their
homes, horses, cattle, wagons, farm
ing tools and in some cases their house
hold furniture. So they go ahead and
mortgage their crops, that hasn't been
planted to get provisions to do them
until gathering time. Harvest comes,
they pick their cotton, which costs
them from five to seven cents to raise
and sell it for four and five cents.
Next, with what money they de-
rive from their product, they pay
over to the merchant, who holdspa
mortgage for furnishing them with
means TO work their crops, but they soon
find out that they can't pay the mort
gage with all their four and five cent
cotton, but leaves a balance to be car
ried over until another crop can be
made. Well, another crop is started,
without means to run it; not only that,
but the balance due for their last crop
Is heavy burden they will have>to
bear with the rest of their trials for
the coming season.
In common reasoning, is there any
encouragement for the farmers~to be
industrious or to spend money in cul-
tivating their land. MOI none whatever; /;
they are discouraged, in the broadest
sense of the word, the cotton seed,
which should go-back on the land, to
enrich it, are being sold. Yes, every
conceivable thing that can be raked up
on the farms, that were once used to
enrich and beautify them and give
comfort to the farmers home, that will
bring a little cash, to buy the neces-
sary food and raiment to sustain them
(Without any comforts
Can this last always3 Something
must be done to relieve the farmers.
How does the condition of the farm
ers effect the merchants9 The products
derived from the tilling OF the ground
is the source or head from which the
merchants are supported. Therefore,
if the farmers sell their product and
do not get what it cost them to raise
it, how are they going to spend money
with the merchants9
How does it effect the cotton miIls3
It places cotton in their hands at an
exceedingly low price, but they are
deriving an enormous profit on their
yarns and cloth. They also take ad-
vantage of the Stringency of money
and get labor very cheap.
How does it effect our national
banksl Well, it is enriching them
First, the farmers have to mortgage
their crops to the merchants for sup
plies to work their crops. Second; the
merchants have TO borrow money from
the banks paying an enormous per
cent. interest,) 80 they can meet their
bills, during the months the farmers
are working their crops.
How does it effect the daily labOrerG
The best terms I can use to express
their condition is: il is the next thing
TO starvation with them as body. 16
Is not necessary TO explain their con-
nectlon with, or how they are effected
by the condition of our farmers, nor
Is it necessary to go on farther and
show who is getting poorer and VINO
richer by the oppression of the farmers
There is something wrong In our
financial system or eurselvf s-Whlcn
lis it9 q. K. SOesAMAN.