The pioneer express. [volume] (Pembina, Dakota [N.D.]) 1883-1928, 1896-08-28

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
used by the free silver orators with inn
mense assurance Of its success:
Lincoln, Neb. Aug. 3.-To the Editor:
My land is encumbered by a mortgage Of
1884, mus ST pay this o deS %s se
products Of my farm Under ordinary cir.
cumstances I will be able to raise 1000
bushels OF wheat ne1t II there Is
at SO cents per bushel, will pay half the
debt. When the value of a silver dollar
f reduced to 50 cents 'ts by free coinage q
its value. will be worth a 50-cent dollar.
With free coinage Of silver shall, there
fore. be able TO pay the entire debt with
paying a debt Of $1,000 has doubled since
borrowed the money. have obeyed the
laws Of my country under the gold standard
The opponents Of free coinage Of silver are
appealing to the laborers. the creditors and
policy holders to protect their own per-
for my own interests who will do 50 for
me? ts there any reason why should not
vote for the free and unlimited coinage Of
silver? Very respectfully. ]. w. Binger.
The answer is not far to seek.
When this farmer borrowed the money
it was the equivalent of $1,000 in gold.
It was the same as if he had received it
all in gold 500 pieces. He could have
had it 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
bought stock or machinery. In whatever
way he used it, unless he burned it up or
suuandered it, he got value received.
The borrowing and lending was bust
ness transaction and the borrower used
the money to promote his business in
terests
At no time since that mortgage was
five years without renewal, would a
thousand bushels of wheat have paid it.
Suppose we had borrowed the money
from neighboring farmer more pros
nervous than he. That neighbor would
probably have to carry something like
two thousand bushels of wheat to town,
sell it for thousand dollars, get the
friend. :, There have been in the
tons. In fact, in every farming
community there are few farmers,
more thrifty and of better business quail
ifications 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 loaning
those products. They are loaning the
money. and since 1870 it has been gold
or it's equivalent. Why should they
mt have the same kind of money in re-
payment?
Ia it 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
q law thousand 5O-cent dollars will be
sufficient to discharge debt of thou
sand 1OO-cent dollars? Such a law
amounts to the Reputation of one-half
the debt obligations of all the debtors in
the United States.
When Mr.. Binger in the above letter
saws. sSThe burden of paying debt of
$1,000 has doubled since borrowed the
money!" he must remember, If he is stat
linz what is true, that the burden" Is not
alone upon him, but upon every other
husiness man who has borrowed money.
Merchants and manufacturers feel the
same stress Of the hard times az the
farmers do. It ia lot because they bor-
rOwed gold and have to repay gold that
the burden is greater, but that their
earninRs and assets have not turned out
a. they hoped and expected. COMPETE
tion and overproductiOn have affected
tie whole world, but population II not
the proper cure for It. "a.
Honesty 10 the best policy-as policy
merely, without reference to Ito moral
Quality-for nations - well % for indi.