Smyrna times., 1896-10-07
THE DEBTOR FARMER.

The Philadelphia Ledger in discuss
ing this subject says:
But a word as to the future. If the
improbable should come to pass, and
Mr.. Bryan be elected our next Presi-
dent, what would the effect be on the
debtor farmer? It is the debtor far
mers Mr.. Bryan is particularly anxious
to ''round up and set apart as u class
dishonest class, instead of honest in
dividuals as they are. Would the
debtor farmer become creditor capi-
talist on November 4, 1896, if Mr..
Bryan, should be elected on November
3? The first effect of the election of
Mr.. Bryan, with its guarantee of depre-
ciated currency and its sympathy with
all of the disOrderly elements in the
country, would be the immediate crea-
tlon of widespread and reasonable
distrust. The creditor of the debtor
farmer would at once endeavor either
to secure the payment of a part or all
OF his debt, or he would demand ad-
vanced rates of interest. The debtor
farmer would be at the mercy of his
alarmed creditor and would be forced
to do the best he could to satisfy his
creditor, even to the extent of surren-
dering his farm, ifpeeded be, and there
after holding it, if at all as tenant on
rent. 1t is as certain now as il can be
on November 4, 1896, this would be the
first experience of the debtor farmer.
Creditors loan at low rates of interest
when satisfied with their security and
assured that they will be paid in good
money. They will not loan on low
rates, If at all, when in doubt either as
to the security or as to the kind of
money in which they will be paid.
The next experience of the debtor
farmer will be that, while the silver
mine owner will promptly present his
90 cents worth of silver at the mints
and receive a coin stamped zone dollar
or a paper certificate called dollar,
this coin or certificate will remain the
property of the mine-owner and will
not by any mysterious process find its
way into the pockets of the debtor far
mer. This political dollar will not at
once depreciate to the mere market
value of the silver it contains. It will
take the people some time to learn that
this is all such a dollar is worth. The
depreciation will be gradual, and it
will afford the mine owner time to un-
load his dollars upon his innocent
dupes at the handsome profit Mr..
Bryan and he see there is In this poll
tical speculation. The debtor farmer
will find the appreciation in value of
his wheat will be as gradual as the de-
probation in the dollars. The wheat
he sells will appear to be worth little
more after Bryan's election because he
will get few more so-called dollars
for it, but he will find these dollars de-
preciating on his hands. Dollars that
may be worth 80 when he sells his
wheat will not be worth 75 cents when
he wants to use them to purchase his
clothes, machinery or food. If he
keeps them on hand too long they will
not be worth so cents. There will be
two active causes at work to depre-
ciated his silver dollar value. The
first will be the entire destruction of
trust and confidence in the financial
policy of the country on the adoption
OF the riot and. ruin principles for
which Mr.. Bryan now stands. The
second cause will be found in the rapid
and increasing volume of the currency,
which will be swollen to an extent
limited only by the capacity of the
mints to coin the so-called dollars, and
the Treasury printing presses to issue
legal tender certificates for silver the
mints have not the capacity to coin.
The debtor farmers experience,
therefore, would be:
First. Creditors will press for paw
ment and demand higher rates of in
terest.
oOSOAO' OANCI OMueIS anu not |
debtor farmers will get the new coin
and the certificates.
Third. Farm products will appre-
ciate slowly as money Gepreciates.
Fourth. The farmer will lose on all |
money he obtains for his crops, as this
money will constantly and without
limit depreciate in value.
Fifth. For every article the farmer
has to pay he will give prices higher at
least to the extent of the depreciation
in the value of his money. The only
exception to this may be that the de-
probation in money may enable the
farmer to cheat his hired labor out of a
small portion of its hard-earned daily
wages without becoming amenable to
the law.
If the farmers will do their own
and not be influenced to vote
in favor of the man with the smoothest
tongue and the least honesty, there
can be no possibility of such a disaster
overtaking this country, as would be
the election of Bryan.