The Dakota chief. (Gann Valley, Buffalo County, S.D.) 18??-1913, 1896-08-27

My land is ncumhercd. by a nh"rtGag" Of
$1,000; payable in lawful monGy Noy%mhSr
products of my farm. Under ordinary cir
cumstances l will be able to raise 1000
bushels of wheat next year. If there is no
change in our financial system. this wheat.
ut 80 cents per bushel. will pay half the
debt. When the value of 4 silver dollar
is reduced to 30 cents by free coinage Il
bushel of wheat. without any change in
its value. will be worth a 5o-cent dollar.
With free coinage of silver | shall. there
fore. be able to pay the entir" debt with
the 1000 bushels of wheat. The burden of
paying Il debt of $1,000 has doubled since
| borrowed the money. l have obeycd the
laws of my country under the gold standard
and shall obey them under a silver standard.
The opponents of free coinage of silver are
appealing to the laborcrS. tile creditors and
policy holders to protect their own per
Sonal interests. If should fail to look out
for my own interests who will do 50 for
me: Is there amy reason why | should not
silver: Very respectfully, J. w. Ringer.
The ansWc is not far to seek.
When his farmer borrowed the money
il was the equivalent of $1,000 in gold.
1t was the same as if he had received il
all in gold so pieces. He could have
had il that way if he so desired. Per-
haps he did. for many such loans have
been made. When he expended it he got
$1,000 in gold equivalent. He probably
improved his farm to that extent or
hou-ht stock or machinery. In whatever
way he used it, unless he burned il up or
~souandered it. he got value received.
The borrowing and lending was il bust
ness transaction and the borrower used
he money TO promote his business III
trreStS.
At no time since that mortgage was
oxrcutcd. for few mortgages run over
five. Years without renewal, would Il
thousand bushels of wheat have paid it.
SupDoSc we had borrowed the money
from Il n~eighboring farmer more pros
rcrous than he. That neighbor would
probably have 10 carry something like
Two thousand bushels of wheat to
sell it for Il thousand dollars, get the
money and hand it over to his
friend. = There have been in the
past thousands of such tranSac-
lions. In fact. in every farming
community there are Il few farmers,
more thrifty and of better business quail
iicationS than the others. who always
have money to lend out of their savings.
They gel the money from the proa'lc'S
of their farms. but they are not l0aning
those products. They are loaning the
money, and since 1879 it has been gold
or its equivalent. Why should they
not have the same kinG of money in re-
payment
Is il any Wonder that the advocates OF
unlimited free coinage are charged with
dishonesty and that silver is called dis
honest money. when lay the passage of
= law a thousand .D-cent dollars will he
sufficient To discharge Il debt of Il thou
sand l0O-cent dollars: Such Il law
amounts 10 the reputation of onc-half
The debt obligations of all the debtors IN
the United States.
WLen Mr.. Ringer in the above letter
SAYS. The burden of paving Il debt OF
H1,MO has doubled since | borrowed the
money" he must remember. if he j. stat
In" what is true, that the burden Is not
alone upon him. hut upon every other
business MAJ who has borrowed money.
Merchants and manufacturers feel the
same stress of The hard times as the
farmers do. Ii is not because they hor-
royred gold and have to repay gold that
the burden is greater. but that Their
earnings and assets have not turned out
rs they hoped and expected. CoLnpcti,,
ton AMI overproduction have affected
the whole world. but reputation Is not
she proper eur" for II.
Honesty is the best policy-as a policy
merely. without reference To IFS moral
quality-fsx nations as well as for lndi-