Herald and tribune. [volume] (Jonesborough, Tenn.) 1869-current, 1896-09-02

The following letter is one Of many
that are daily received by the Times
Herald. 1t is supposed TO contain the
strongest free silver argument that can
be addressed to the farmer. and it is
used by the free silver orators with i'm
mense assurance of its success:
Lincoln, Neb.. Aug. 3.-To the Editor:
MY land Is encountered by n mortgage Of
/, 1897. | must pay this debt with the
products of my farm. Under ordinary cir
cumstances | will be able to raise 1000
bushels of wheat next year. If there Is no
change In our financial system, this wheat,
at 80 cents per bushel, will pay half the
debt. When the value of n silver dollar
is reduced to so cents by free coinage a
bushel of wheat, without any change In
Its value. will be worth n 5O-cent dollar.
With free coinage of silver | shall. there
fore, be able to pay the entire debt with
the 1000 bushels of wheat. The burden of
paying a debt of $1,000 has doubled since
! borrowed the money. have obeyed the
laws OF my country under the gold standard
and shall obey them under n silver standard.
The opponents Of free coinage of silver are
appealing to the laborers, the creditors and
policy holders to protect their own per-
sonal interests. II should fall to look out
for my own interests who will do so for
me? Is there any reason why | should not
vote for the free and unlimited coinage Of
silver? Very respectfully, ]. w. Blnger.
The answer Is not far to seek.
When this farmer borrowed the money
Il was the equivalent of $1,000 in gold.
II was the same as if he had received it
all in gold $50 pieces. He could have
had it that way il he so desired. Per-
hans 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 % that extent or
bought stock or machinery. In whatever
way he used it, unless he burned it up or
%souandered it, he got value received.
The borrowing and lending was a bust
ness transaction and the borrower used
the money TO promote his business in
terests.
At no time since that mortgage was
executed, for few mortgages run over
FIVE wears without renewal, would a
thousand bushels of wheat have paid il.
| Suppose we had borrowed the money
from a %neighboring farmer more pros
, perous than he. That neighbor would
probably have to carry something like
two thousand bushels of wheat TO town.
sell K for n thousand dollars, get the
money and hand it over TO his
friend. There have been in the
past thousands of such transac-
tons. In fact, in every farming
community there are n few farmers,
more thrifty and of better business quail
ifcotions than the others, who always
have money to lend out of their savings.
They get the money from the products
of their farms, but they are not l~oaning
those products. They are leaning the
money. and since 1870 it has been gold
or its equivalent. Why should they
not have the same kind of money in re-
payment!
Is II any wonder that the advocates OF
unlimited free coinage are charged with
dishonesty and that silver is called dis.
honest money, when by the passage OF
a law n thousand 50-cent dollars will be
sufficient to discharge q debt of a thou.
sand 1OO-cent dollars? Such a law
to the reputation Of one-hali
the debt obligations Of all the debtors in
the United States.
When Mr.. Binger in the above lettel
saws, "The burden of paying n debt o.
$1,000 has doubled since / borrowed tn,
money.n he must remember, If he is stat
ING what is true, that the burden" is no
alone upon him. but upon every otheI
business man who has borrowed none
Merchants and manufacturers feel tn,
same stress of the hard times as tn,
farmers do. 1t is not because they Dor
rowed gold and have to repay gold tina
the burden is greater, but that thei
earnings and assets have not turned on
as they hoped and expected. Competi
ton and overproduction have affectc,
the whole world. but reputation is no
the proper cure for it.
Honesty Is the best policy-ns n polio.
merely. without reference TO It's morn
nnnlity-Afor ru.ions Us well ne FOR ind