The Irish standard., 1896-08-08

x1A1% IAS ksA y
- that another port ton Of the people look
on indiherent.y and etically as +
nothing Of importance was going to hap
pen to the nations honor at all, says the
Buffalo Catholic Union and Times
OF course, the only explanation Of this
is that only highly ofganized natures car
be expected TO understand the delicate
question OF a nation's ihonor. and that the
masses and those who feel no concern for
the nations honor. are made Of the coarsest
and conmonest kind$of clay.
Indeed, the latter seem inclined to rid
icule the idea that there Is a question Of
the nations honor at all, while they con-
tend, on the other hand land back up their
contention with reasoning), that there IS a
question of quite as much Importance as
honor involved, namely, a question Of res
titution. The real victims, they tell lis,
are the sufferers from the gold Standard
the victims of artificially declining prices
OF late years.
Here they tell us is the farmer. It is
not question Of honor here, but ques-
ton Of restitution to him Of what we have
wrongfully taken from him by vicious
legislation. Fifteen or twenty years ago
he purchased here IN Western New York,
they aver, his farm land for $3.50 per acre.
Today he would have some difficulty in
procuring a purchaser at half the amount
per acre. His crops, his cattle, his prod
uce generally, have all deprecated in
value Where, fifteen years ago, 500
bushels Of wheat pad the interest on his
mortgage, now 1t will take 1000. The
mortgage itself has appreciated in value
100 per cent, while the means he has de-
pended on to meet that mortgage has de-
preciated so per cent. Nay, the farm land
has itself deprecated at the same rate.
Surprising that 20syears ago farmer pur-
chased his farm for $4,000, paying $4,000
in cash and giving a mortgage for the re-
manning $4,000. He felt perfectly secure.
His land was worth the money, and he was
worth $4,000 over and above his indebted
ness. Surprising that for some cause, or
other the mortgage hung over the same
farm today, he finds that mis- farm is per-
haps worth $4,000, the value OF the mort
gage, and he, himself, is worth nothing.
And why is this? 1t Is the same farm,
the same mortgage, the same amount Of
mortgage, and the same number of acres.
Is the depreciation owing to overproduc-
ton? But in land there Is no such thing
as overproduction. Is it owing to q falling
off in the population, leaving a larger num-
Der of acres in proportion to the popula-
ton? But the population has been in
creasing, while there IS no increase of ter
ritory. The change is due, we are told, to
the appreciation in the value OF money.
And the phenomenon which meets us In
the question of land confronts lis in all
that land produces. The purchasing pow
er Of money alone has increased.
What is true Of the farm Is true in
greater or less degree of the estate in our
cities. 1t is worth about half what 1t
would bring Is or 20 years ago. Here,
they tell us, is a question Of justice. The
question of honor must succumb to It.
Who, they ask us, is going to make restitu-
ton to the farmer who finds himself worth
nothing. today when, if DIR legislation had
been just, he would be worth $4,000? The
rudeness of the inquiry may act as shock
to the superfine organizations of those who
are so highly sensitive on the subject of the
nations honor and save them from I'M
mediate suicide.