The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-07
THE WISDOM OF A FARMER.

Free Coinage and the Farmers is the
tober, by John NJ Stahl a practical and
extensive farmer born in western Illinois,
editor of the Farmers9 Call and secretary
of the Farmers National Congress. Such
man is better qualified to give an author
itative opinion on any subject in which
farmers are interested than such men
as Mr.. Bryan and Professor Ridpath.
Those who will read Mr.. Stahl's article will
conclude that he knows more about the
subject as it relates to farmers than any
Popocratic writer orator. Mr.. Stahl be-
gins his article as follows
If gold and silver remain al parity when
we have the free and unlimited coinage of
both metals at a ratio of 16 to l, then the
people of this country, acting through the
machinery of the national government, viii
pay one dollar for about 30 cents worth
of silver. 1t is safe to say that not 100
farmers in all the country will have any
silver bullion to sell. Practically the only
individuals having silver bullion to sell will
be the owners of silver mines and moneyed
speculators-rich men. If gold and silver
do not remain at a parity when we have
the free and unlimited coinage of both
metals a a ratio of IL TO !, then the holders
of gold which is now out of circulation. be-
and elsewhere, will be able 10 sell at a
premium which may reach near to 100 per
cent, 1t is safe to say that all the farmers
of the country will not hold / per cent of
the gold in the country: and thus the
premium will go into the pockets, of those
''ShyiockS" who are continually being de-
nounced by the free-coinage advocates.
No of the thousands who have writ
ten on this subject has made it so clear in
SO brief space that farmers and the mass
of the people will gain nothing by the free
coinage of silver as has farmer Stahl. If
gold and silver should remain at parity
under free coinage the already rich mine
and silver bullion owners would be made
richer. IF gold and silver should not re-
main at parity, the managers of banks
trust companies. etc, and their depositors,
would be made richer.
After stating that the farmer, because of
his remoteness from the cities, has been
and will continue to be the holder of poorer
money when it is of the two qualities, and
that the history of this and other countries
shows that legitimate business, the business
which makes real values by employing Ia
Dor in the field, the factory, the shop or
by the transporting of products, lis most
solidly prosperous when the currency is
stable he says:
The prosperity of the farmer has always
to puV Of HIM TSe G inf n1nec ci ahoe
all other influences affecting the price of
the farm products Is demand and supply.
Anything which lessons the ability OF dis
position of the merchant, manufacturer
mechanic and the salary of wage earners to
buy lowers the price of farm products ANY
policy that banks furnace fires and slences
the hum OF spindles lowers the price of
wheat, beef, butter, wool and fruits Any
thing that compelS the manufacturer to
lessen his output, the railroad company
to lay Off trackmen and repairers, or the
bT1y nf
household expense, takes from the prospect
ty of the farmer. He cannot be indifferent
than they. can be Indifferent to his inter
ests. He cannot put into wider and con-
tinued operation forces that by their very
approach, unsettle values, alarm capital
make prudent men wait and greatly injure
the business of manufacture, transported
tion and exchange without dealing agricui-
ture a hurt that before it is headed. will
oVerbalance any temporary gain that might
accrue TO minority of farmers from the
payment OF their debts in a deprecated cur
rency.
Mr.. Stahl, noting the fact that the chief
advocates of free coinage of silver maintain
that such coinage will cause silver and GOLD
to remain at parity with the present RAJ
ito, says that if such were the case the
farmer would get no more dollars for his
produce than he does now because the dol
lar as good as the gold dollar will not in
crease prices. If. on the other hand these
loud advocates should be mistaken, as they
are likely to be, Mr.. Stahl states the result
to the farmer as follows
If such should be the case then the farm
er who Is in debt could pay his creditor
in deprecated dollars, and he would find it
easier to pay the debt. if other influences
were not active. But other influences
would be active; much of the tendency to-
ward rise in prices-due to deprecated
currency--would be counteracted by the de-
preston in all industries and the lessened
demand: and this depression would con-
| tinue for several years. affecting the price
| of several years products. while the cheap
| er dollar could affect the debt but once.
This last remark is worth the serious at
/ tention of the brother farmers of the
writer The general paralysis of business
| incident to a change in the dollar which
measures value. and which would rot