Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1896-05-05

labor that he must pay for hired
help.
1t must be kept in mind that up to
1890, when these estimates were made
by the farmers referred to, silver had
not been totally discredited as it now
is. The Bland-Allison act of 1878 put
in circulation large amount of sill
yer and silver certificates, $1,000 900
of which were exchanged at their face
value by the treasury officials for a
like amount of gold, and the Sherman
act of 1890, which became law short
ly before these estimates were made,
gave to silver in our monetary system
standing of which it has since been
completely shorn. This of necessity
so long as it continued, limited to
some extent the purchasing power of
gold, which simply means that it in
creased the selling price of commodi-
ties and enabled the farmer toreceive
for his corn through period of five
years preceding this estimate an
average of % cents per bushel instead
of present prices.
1t is of course true that prices will
fluctuate in the future as they always
have done in the past, controlled to
considerable extent by temporary
causes, such as short crops in our
country, or famine or wars in OF her
countries which create an unusual de-
mand for our farm products in for
eign markets, but at present no one
of these conditions exist in any part
of the world to an extent sufficient 10
cause an appreciate effect on our
markets. Itseems, therefore, entirely
fair to assume that with the purch
asing power of the dollar maintained
at its present limit we will not in the
future see an average of prices for
any considerable number of years
above those of the present time.
If the Leader can point out the
source through which better prices
are likely to come without lessening
the purchasing power of the dollar
based upon gold standard as it is,
it will find no more gratltied listener
than myself in the whole state. Be-
lieving, as do, that this is impossible
want to state what to me seems to
be some very plain and very import
ant truths IN which the people of
Iowa are intensity Interested, and if
am wrong in any or all of these
statements nothing will afford me
greater pleasure than a clear demon
stration of my error through the
columns of the Leader or otherwise.
| My first statement is that with the
purchasing power of the dollar main
tanned as its present excessive limit,
the existing Indebtedness of the
farmers of Iowa can never be paid,
except by forced sale of thousands
upon tens of thousands of their homes
and hence, by turning them loose to
further swell the already overflo wing
ranks of that class of men who have
nothing to sell as means of liveli-
hood but their daily labor.
My second statement is, that with
the present price of the products of
the farms, which can not in my judg-
meht be permanently increased while
the purchasing power of the dollar
remains as it is at present, not one
farmer in ten who owes a sum equal
to one half the market value of his
property will ever pay the debt, sup
port his family and retain his home.
If he pays the interest and taxes,
keeps up repairs and supports his
family he will be among the most
fortunate of his class. The debt he
will bequeath to his heirs.
| My third statement is, that those
who owe sum equal to two-thirds
the market value of their property, of
whom there are tens of thousands in
Iowa, assuming that the purchasing
power of the dollar and the prices of
the products of the farm remain as at
present, will be bodily swept out of
the class of small property holders
and swept into the great army OF
men who have no abiding place on
earth that they can call their own
and they, too, will be added to the
great army of workingmen who have
nothing but their labor cell.
My fourth statement is, that with
the purchasing power of the dollar
maintained as at present and its con,
sequent effect upon prices, the tenant
farmers of Iowa will be absolutely en-.
shaved without ray of hope that in
their calling they can ever secure a
home of their own.
Ii all this comes true, as it certain
ly will, IN my Judgment, unless con
ditions are changed, what, then, will
be the situation of the laboring man
who clamors now for The dollar that
will buy the greatest abundance oil
the commodities he requires? l will
let the Leader answer. If it believes
present prices of the products of the
} farms of Iowa are just and that
farmers should be satisfied Herewith
l am sure it will say SO boldly and
take the consequences, good or evil
of the position it maintains.
If instead it believes these prices
} are not just, are not re-
! munerative, and can see any way by
| which they can be increased while
J the purchasing price of the dollar