The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-10-28

that the American people-the American
producer-shall be compelled to pay the in
terest on this vast sum annually in gold
in an already appreciated and constantly
approaching dollar. These producers must
annually give up to the controllers OF gold
an ever increasing amount of the produce
of their farms, fields, factories, workshops
and mines to satiate the greed of the
money loaning class. They cannot do 1t.
1t is impossible. To continue on the gold
standard means utter ruin to the produce
ing forces of the country. 1t means a
system of constant borrowing. without
ability to pay. No business can stand
per cent interest for any length of time.
Prof Whitaker has shown that cent
placed at per cent compound interest
compounded annually only at the time Co.
lumbus discovered America, would today
amount to more than the assessed or actual
valuation of all the property in North
America. Yet we are compelled to COM
pound our interest semi-annually, and bus-
mess men, under our system of restricted
coinage, must, on the credit they have to
borrow, compound 1t once in 80 days, and
often once in 30 days. The burden always
ultimately falls upon labor and production.
The railway magnate pays the interest on
his bonds by taking 1t out of the farmers
wheat and corn and cotton that are ship
ped to the cities or foreign countries for
consumption, and out of the products CT
labor in mills and factories which are ship
ped to the farmers. The agricultural COM
munity is fast becoming a tenan,a.
In Minnesota in 10 years one-half Of the
farmers have lost their farms by foreclos-
ure, and that in the richest agricultural
state in the Union. The annual interest
charge on mortgage Indebtedness in Mime
sofa alone exceeds 900, and taxation
$13,OOO,0OO. By the contraction OIL the CUT
rency and the decentralization of silver
preventing the new product from coming
to the mint and finding it's way into the
channels of business. the dollar has kn-
creased in purchasing power Except where
trusts and combines have maintained an
artificial relation between it and those
particular products) and decreased in
debt paying power, and the farmers Of
Minnesota have, by reason of that fact
lost annually an ever increasing amount Of
money purchasing power.
In 1892 that loss amounted to SIS, 900 600 on
wheat alone. and as much more on other
products Of the state, while debts, inter-
est taxes and similar fixed charges have
not been harmed. The purchasing power
has thus been reduced to the Minimum
and yet the Minnesota farmer is told that
the dear dollar, the 2OO-cent dollar of the
Rothschilds is what he needs and must
have.
Destroy the spirit and courage, and ambi-
ton of the producers of the country, and
you destroy her greatness.
The vandal chieftains Of old were wiser
than the plutocratic barons of today. The
great Asiatic conquero of the olden time
who marshalled his armies on the plains far
west of the river Oxus, and swept through
the valleys of the river Tigris, and the
Euphrates, overthrowing empires; who de-
vastated eastern Asia and Western Europe:
who destroyed palace and temple, and
RACED cities to the ground; who Uttered his
horse with the libraries Of nations and put
to the sword all who opposed him, yet he
showed more judgment and mercy than
his modern imitator, for he laid strict in
junction upon his ruthless soldiery to spare
all who titled the soil and tended the flocks
and dressed the vineyards, for we'll he
knew that upon the great producing forces
of the conquered countries depended the
rehabilitation of the subdued territory. Our
money conquerers are apparently seeking
to destroy those who tend the f1ocks, cult
vate the soil and dress the vineyards. by
laying the debt Of burden and taxation up
on them and to constantly increase the
load. Either the people of this country
must rise up and repel the invaders OF
their homes and f1resides and restore to
themselves the purchasing and debt pay
ing power taken away from them. or the
future will De an era Of decay, darkness
and ruin for America and her people
John w. Reyes.