Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1895-02-21
MISLEADING THE FARMERS.
Republican Journals Distors Facts to In

Republican Journals DtstOrt Facts to In
jure the Administration.
That the distinctively republican pa
pers should endeavor to mislead the
farmers is bad enough; but it is to be
expected because it is their regular
practice to mislead voters of every
class. That agricultural newspapers,
published ostensibly for the enlighten-
nent of the farmers, should either in
tentionally or ignorantIy mislead them
is altogether wrong and inexcusa BILE.
1t is certainly inexcusable if they do it
Intentionally; nobody will question
that. It is equally SO if they do it
through ignorance, for it is their
bounden duty to inform themselves as
to the facts concerning which they as
sumo to teach the agricultural commu-
nifty.
This conclusion is drawn from an
article in the Michigan Farmer, in which
that journal undertakes to criticise
the presidents financial message. So
far as the article is merely critical
we have no quarrel with it,
though the partisan bias is clearly
apparent We shall not even quarrel
with differences, which, while they seem
TO be il1-founded, are to some extent
matters of opinion. Such, for instance,
is the Farmers statement that Ito de-
mand the payment of duties on imports
in gold would at once add to the value
of that metal, and place it at a premi-
nm, and as a corollary depreciate the
value of other currency" 1t does not
seem to us possible that this could be
the result, unless the act which de-
cIares it to be the policy of the govern
ment to maintain gold and silver at a
parity in the currency should be re-
pealed; but so long as it is in any de-
gree a matter of opinion we cheerfully
concede to the Farmer its right to its
own opinion, ridiculous as it may APP
pear to us. We accord the same re-
spect to it's opinion that ''to retire the
greenback, as redeemed, would cut
down the currency to such an extent
as to embarraSS business" The preSi-
dents recommendation covers an in
crease in the national bank notes
which, with the releasing of the gold
now held for the redemption of the
greenbacks, would, in our judgment,
go very far to overbalance any con-
traction which the gradual redemption
OF the greenbacks as proposed could
occasion. The contraction is, however
q theoretic possibility; and we are quite
willing to concede that the Farmer be-
1ieves what it says in that behalf.
There are two statements in the article
however, which can only be explained
on the score of dense ignorance or
a willful intent to mislead the farmers.
One of them is the statement that the
Ereenbacks ''are as sound as the gov
erpment, and cost nothing, while the
people will have to pay interest on the
bonds" No one who read the presi-
-deut's message intelligently can be ig-
norant of the fact that the green backs,
instead of costing the people nothing,
have cost them a great deal, and will
continue to do so as long as they are
kept outstanding with the obligation
upon the government of maintaining a
gold reserve to redeem them. Speak
ing ON this point in his message, the
president said:
Objection has been made to the issuance Of
intereSt-bearing obligations for the purpose
OF retiring the non-interest bearing legal ten
der notes. In point of fact, however, these
notes have burdened US with a large load of in
rGerest. and it is still accommodating. The ag-
.gregate interest on the original issue of bonds,
1she proceeds of which in gold constituted the
reserve for the payment of these notes,
amounted to $40, 326.250 on January 1, 1895; and
the annual charge for interest these bonds
the last year, will be S9,145,0C0 dating from
January l, 1895
This is a sufficient answer to the
Formers statement that the green
backs ''cost nothing;" but it does not
tell the whole story. Figures care
fully compiled by the New York Times
show that the actual cost of the green
Back to the country-in spite of its
nun-interest bearing character-was,
from March 10, 1862, when it was first
issued, to June so, 1885, 81, S3S, 8O7, 1872
And, notwithstanding this enormous
cost, 1916, 900, 900 of them are still out
standing to be redeemed and reisSued-
unless existing laws are changed-at
constantly increasing cost.
The other misleading statement of
tl,e Farmer which we have in mind re-
Hates to the rate of interest on the
bonds sold by President Cleveland's
administration to maintain the re-
serve. It is in these words: 1.-The
800, 600, 900 in bonds already issued
bear 5 per cent. interest. They are
payable in twenty years, and will
then have cost 500, OOO, 600 in interest y
Now, while it is quite true that the
bonds referred to are nominally per
cent. bonds-congress having refused
to authorize the issue of bonds at a
lower rate of interest--it is a we'll
kaown fact that they were sold at a
price which makes the rate of interest
the government has to pay only per
Tho cost RI ho cr0varnn1ox,f