The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1895-01-08

been shortened InaG Is, Ine money
bSS If the world has not kept pace
saPPy the increase of population and
'n L.ose of business demands of the
peI In other words, the sum total
Foi the commodities, merchandise
nroducts of labor of the entire
~O &c too great to be measured by
SUI nm total of all money in the
tD0 Or reverse the statement and
.bo SIM total Of all the money In
rrorId is too small to measure the
total of all the merchandise, com
a3ities and products of labor of the
pOrI3 The n expression would be
correct, as logical, and as philo
1noI all commodities will be low in
Zoe measured by money, or money
FrfI he very high in price measured
~ commodities, supply and demand
'iuavs acting upon both money and
aommcdities alike. So you can in
o.oose the prices of labor and the pro
5ncts of labor as we'll as the prices of
al kinds of merchandise by increasing
the amount of money in circulation,
NJ vou can decrease the prices Of labor
and the products of labor and the
nrices of all kinds of commodities by
decreasing the amount of money in
CIRCULATION.
Money remaining the same in guam
+itv at all times. you can increase the
rrica Of all the kinds of commodities
nv decreasing quantity, or you can de
crease the price of all kinds of com
modities by increasing the quantity If
commodities. Now, it is plain, to pre-
90 we the general average or level of
nrices always, at all times, and not to
in n way injure or damage either
the debtor or creditor classes, you
must, as neal as possible, at all times
and under all conditions and circum-
stances preserve and maintain a just
and equitable ratio between the
amunnt of money in circulation and
the amount # labor and commodities
to be handled by that money. An
over supply of either, or an under-sup
ply of either will - once derange
prices, and when this arrangement of
prices is brought about by providence,
and is absolutely unavoidable, no one
is to blame. But when it is brought
abou5 by vicious, malicious class legis-
lation somebody is to blame.
The laws of nature and the require
ments of the human family, demand
that men 4 very where labor and pro
duce, and the amount of that labor
and production depends upon the skill
and ingenuity of man and the blessings
Of heaven.
If the amount of production is abun
dant, filled to over flowing, and greatly
exceeds the lawso of supply and demand,
prices will be low; but if the amount
of production is short az d not equal to
the demand, prices will be high, and
the law-making power of the land
having neither authority nor control
over the power Of production and In
no way responsible for abundance or
shortage, will lot and ought not to
be held responsible for high or low
prices. But where the law making
power has the only and exclusive right
and power to create, produce and put
IN circulating any n article, com
modify or say money, and that right
and power is sufficient and ample to
supply the demands, and no other
possible means of supplying said de
mands exists, and a constitutional
duty, and a legitimate obligation rest
upon the law-making power to supply
this demand, and it fails in the dis
charge of this constitutional duty
somebody is to blame. The wrong,
the outrage, the injustice done the PEG
pie, the injury and damage done the
tcommuniUies) constituting the nations
Of the earth-is directly chargeable to
the law making power, and the entire
responsibility for all arrangement OF
prices, paralization Of business, pros
tration Of industries, and stagnation OF
Commerce bankruptcy and ruin, il
each ~chargeable to the same power.
Money the great instrumentality Of
trade, as we may say the only in
strumentaIity, is wholly and entirely
a creation of law. This has beer
so from time out of mind, and will be
50 until the end of time. Not by statu
tory laws, it is true in the beginning
but by custom which is stronger. or il
the early days was stronger than writ
ten laws. As the ages roll on, expert
ence accommodates, and civilization
advarces the world is controlled and