The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-09
DUE TO CLASS LEGISLATION.
View of the Cause OF
Agricultural. Depression.

WASHINGTON, March S.--The majority
of the committee of the House, appointed
to inquire into the causes of the prevailing
agricultural depression has prepared re-
port in which it says: ut is necessary 1or
the committee to enter into or dwell on
the fact that agriculture is depressed IN
every branch of this most important in
dustry; that the values of land and farm
surroundings, unless under exceptionally
rare conditions. have deprecated steadily as
the purchasing power of the dollar has in
creased But while the values of property
owned by the American farmers have de-
creased in thirty years from nearly one
half of the total wealth in 1850 to less than
one-fourth in 1880 of which 80 per cent is
now under mortgage, taxes have steadily
increased and debts now require four times
the labor 70 be paid off than was then re-
CURED. The purchasing capacity of the dol
lar to secure the farmers land and his
product has increased fourfold, while the
power to pay his taxes and debts have
remained at a standstill. In 1878 wheat sold
from $1.55 to S2.25 a bushel, according to
Spoffard's almanac. In New York, in 1894,
it sold at 80 cents"
Discussing the cause of the depression
the committee says: "Class legislation of the
worst character encumbers the statute
books and has been carried on to the detri-
ment of agriculture and its dependent in
d tb ri TOT frty a of
silver in 1873. The decentralization of sill
YER was a bold stroke in the interests OF
product in the. world. This is conclusively
proven by the fact that just as silver. has
other values fallen in the scale Silver bull
lion to-day has the capacity to purchase
as much wheat. cotton, pork, corn and Land
therefore the depression of the white metal
simply means the depreciation of every
ception-the gold Of ShyIock
THE tariff. system is not only UNEQUAL.
but as for the past thirty years admins
tered in this country is most unjl st to the
consumer and has built up trusts. combines
and gigantic corporations, which have not
pense of the people, but which have as
sumed to control and direct Aegis'at ion so
as to perpetuate their power and gratify
staples. as it forces him not only to buy
ton with the.sworld's lowest prices.
Agricultural depression is still further
soch were the grain
grow rich by farming the telegraph wires
and selling wind. while the honest and in
whirIwind Food authorizations add millions
annually to the farmers loss and compel
these might be added other causes, but
the principal ones to which agricultural de-
preston. and Stagnation in trade is due
have been cited.
1.-The remedy lies in remedial legislation
and until that is secured relief will not
come permanently. To secure relief we sug-
gest: First. that silver should be remonet-
lied at the ratio of 16 to i second, that
so long as the present unjust and unequal
system of protection continues that agricul-
ture should receive its just proportion and
as this cannot be secured by protective
tariff, that bounty on exported agricul-
tural staples should be allowed similar to
that on fish in 1913 and for which John G.
futures should be prevented by law; fourth
that national pure food law should be
az ed. A m noIity report is being prepare IL