The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-03-08
CRIME OF The AGE
Is the Term Applied to the De-
monetizatiOn Of Silver
By the Investigating Committee
of the House.
CAUSE OF POVERTY
Is Found in the Increased Price
of Gold.
The Committee Strikes a Blow
at the Tariff.
CAUSE OF POVERTY

WAsHINGToN, March 8.-The majority
of the special committee of the house APP
pointed to inquire into the causes of the
prevailing depression has prepared re-
port in which it says: lit is unnecessary
for the committee to enter into or dwell
upon the fact that agriculture is de-
pressed in every branch of this most i'm
pOrtant industry, that the values of lands
and farms, unless surrounded by excep-
tionally rare conditions, have depre-
ciated steadily as the pur-
chasing power of the dollar
has increased 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 1890, of
which 80 per cent is now under mort
gage, taxes have been steadily increased
and debts now require four times the Ia
Dor to be paid that 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 his debts have re-
NAMED at standstill.
In 1878 wheat sold from $155 to $225
bushel according to SpoHord's al
MANAGE; in New York in 1894, it sold at
so cents.
Discussing the causes of the depres-
sion the committee says: ''Class legisla-
ton of the worst character encumbers
the statute books and has been carried
on to the detriment of agriculture and
its dependent industries for thirty years,
eliminating in the crime of the age, the
decentralization of silver in 1873
"The decentralization of silver was
! bold stroke in the interest of capital that
has reduced the value of every product
in the world. This is conclusively proven
by the fact that just as silver has depre-
ciated, in like proportion have all other
| values fallen in the scale. Silver bullion
to-day has the capacity to purchase as
| land, and every other commodity as 1t
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 of taxation is not only
| unequal, but as for the past thirty years
administered in this country. is most I'M
| Just to the consumer, and has built up
! the trusts, comb ines and gigantic corpo-
rations that have not only amassed i'm
| mense wealth at the expense of the peo-
| pie but who have assumed to control
] and direct legislation SO as to perpetuate
| their power anc satisfy their greed. The
tariff bears with undue weight upon the
! producer of agricultural staples. as it
forces him not only to buy in the dearest
market, but to sell in open competition
with the worlds lowest prices
Agricultural depression is still fur
ther augmented by the sale of futures on
our stock exchanges.
The sale of futures on our stock ex-
changes. where telegram gamblers grow
rich by farming the telegraph wires and
selling wind, while the honest and indus
trious toilers on the prairies reap the
whirlwind. Food authorizations add
millions annually to the farmers losses
and compel him to meet in competition
the thief.
To these might be added other causes,
but the principal ones to which agricul-
tural depression and stagnation in trade
| is due have been cited. The remedy
lies in remedial legislation, and until
that is secured relief will not come per-
manently.
To secure relief we suggest:
First-That silver should be remone
tized at the ratio of Is to 1.
Second-That 30 long as the present
unjust and unequal system of protection
continues that agriculture should receive
its just proportion, and if this cannot be
secured by protective tariff, that a
bounty on exported agricultural staples
should be allowed similar to that on fish
in 1913, and for which John c.. 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