The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1895-03-19
DEPRESSED AGRICULTURE.
Its Causes and the Remedy Re
port of the House Committee.

up $3.50 PA~RNNN~~ =
which it says:
at is unnecessary forthe committee
to enter into or dwell upon the fact
that agriculture is depressed in every
branch of this most important indus
dustry that the value of land and
farm surroundings, unless uHder ex-
ceptionally rare conditions, have de-
preciated steadily as the purchasing
power of the dollar has increased.
But while the values of property own.
ed by the American farmers have de-
creased in thirty years from nearly
One-haf of the total wealth in 1860 to
less than one-f fourth in 1890, of which
30 per cent. is now under mortgage,
taxes have steadily increased, and
debts now require four times the labor
to be paid off than was then required
The purchasing 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 staudstill. In
1873 wheat sold from $1.55 to So .25
bushel, according to Spofford's Alma
nae. In New York, in 1893, it sold
at fifty cents"
Discussing the causes of the depres-
sion the committee says: "Class leg
islation of the worst character encum-
bers the statute books and has been
carried on to the detriment of agricul-
ture and its dependent industries for
thirty years, eliminating in the crime
of the age, the demonstration of sill
yer in 1898. The demonstration of
silver was bold stroke in the inter-
ests of capital that has reduced the
value of every product of the world.
This is conclusively proven by the
fact that just as silver was depreciat-
ed in like proportion have all other
values fallen in the scale. Silver bull
ion has to-day the capacity to pur-
chase 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 depreciation 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 ad-
minlstered in this country,is most I'M
just to the consumer, and has built
up trusts, combines and gigantic cor
porations that have not only attained
immense wealth at the expense of the
people, but have assumed to control
and direct legislation so as to purpe-
tuate their power and crafty their
greed. The'tariff bears with undue
weight upon the producer of agricul-
tural staples, as it forces him not only
to buy in this market, but to sell in
competition with the worlds lowest
prices,
agricultural depression is still fur
Their augmented by the sale of flu
lures on our stock exchanges, where
the grain gamblers grow rich by
the farming the telegraph wires and
| selling wind, while the honest and in
dustrious toiler on the prairies reeps
the whirlwind. Food authorizations
add millions annually to the farmers
losses and compel him to meet in COM
petition the theft. TO these might be
added other causes, but the principal
ones to which agricultural depression
and stagnation in trade is due
have been cited.
"The remedy lies in remedial legis-
lation, and until that is secured relief
will not come permanently.
$40 secure relief we suggest:
"First-That silver should be re-
monetized at the ratio of l6 to l.
"Second-That, so long as the pres
ent unjust and unequal system of pro-
lection continues, agriculture should
received its just proportion, and, as
this can not be secured by protec-
tive tariff, that bounty on exported
agricultural staples should be allowed
similar to that on fish in 1918, and for
which John @, Calhoun voted.
"Third-That gambling in futures
should be prevented by law.
"Fourth-That national pure food
law should be enacted"
A minority report is being prepared.
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Mr.. Robert L. Bean has sold his
grocery store on Second street, Louis
vile, Ky. We have not learned Mr..
Beams intentions for the future. It'll