Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1897-07-23
MORE MONEY" CRY.
IT COMES FROM FARMERS, WHO HAVE
A REAL MONETARY GRIEVANCE.

3 Of Banking Power In Different Sections
Upon tracing the movement for q
larger volume Of circulation back for q
score Of years it will DO found that il
has invariably manifested greatest
strength in the agricultural sections of
tho country. Obviously, then, we must
seek for the underlying causes in these
communities.
When the subject Is analysed, IL will
be observed that the ground for discon-
tent at existing conditions lies In the
fact that Notwithstanding greatly i'm
proved means Of production, notwith-
standing greater facilities and materi-
ally reduced rates for the transporta-
ton and distribution Of products, the
agriculmrist, upon whom 80 large a
part Of our economic system is depend-
ent, finds himself, generally speaking,
after twelvemonth Of hard work, no
farther ahead than at the beginning Of
the year. and in many instances his
status Is worse. Through the failure to
make proportionate income he has not
been able TO reduce, but has, in fact,
increased his money obligations.
1t Is not maintained that such is the
case throughout the land, nor are all
agriculturists entitled 10 equal credit
for care and economy. Many cases there
are. doubtless, whore sympathy is not
deserved but in most of the communi-
ties where discomfort prevails the rea-
son here given is the true one, the dis
sertations Of self satisfied theorists to
the contrary Notwithstanding
Numerous examinations made by |
painstaking investigators warrant the |
statement that the unequal distribution
of capital and of money and the conse-
quent gross inequality in interest rates
are the chief cause Of the inability to
carry on the important business of agri-
culture proftably.
The sections Of the country polling
the largest silver vote in 1896 have,
generally speaking, insufficient credit
facilities. The small farmer who, adj
yanoing from the condition of farm la
boror, seeks a larger measure of indie
pendenoe and greater comforts for his
family, is not only compelled to mort
gage his realty, frequently at rates as
sNNHA 90 ~ HNt ANAiog Dlh 10 LILO
necessity of borrowing upon his pro-
spectiye crop. Having no banking office
to call upon, he turns to the storekeep-
or, who extends credit for the needed
supplies and taxes the borrower first for
Interest upon the loan, second in the !
way of increased prices for staples fur
lished and finally In the way of dis |
counts or commissions upon tho product
II tho farm turned in as payment
These items not infrequently aggregate
10 per cent upon the actual credit ex- 2
ended, and in very largo number of
asses tho total exceeds 90 per cent +,
1t Is perhaps unnecessary to add that n
BUSINESS of any kind under such condi- a
ions would DO unpoftable. G
Is IL, then, surprising when the agri-
who knows little relatively Of
he principles of sound finance, imagines
hat an increase in the volume of money
Tould benefit him? Is it TO be wondered
{, when he hears or reads of money go
~ begging at per cent in the metrop- -
lis, he fancies that, by some hocus
ocus, Wall street is constantly striving r
grind MIN down? :"
It is our business to teach him other
Use; Co teach him that tho prosperity
the commercial centers is closely in ~
rwoven with his--is, in fact, largely
,pendent upon his welfare-but the Is
sson can only DO brought home to him ~,
: tho introduction of means through '-'
hich his own prosperity shall be as n,
red For, even as IL is impossible to
terest . starving man in the plan of
lvation, so the debt ridden farmer can
ly acquire faith in our views of sound
lance when relieved of his present on
ous burdens. To him a system which
crates so unequally as the existing
@ does must appear not only unsound,
{ absolutely tyrannical. Any change, oil,
feels, would be for the better. Con- O''
luently the southern farmer demand ire
tho reinstatement of the state bank che
te system four years ago, and last po.
sr the free coinage of silver appeared -,
him the best solution of the difficulty III
The remedy is manifestly not to be abe
nd in any form of inAation of our obc
but IN providing by legisla-
n or otherwise increased credit faoili. u
5, both for long term loans upon cha
rtgages and short term credits upon all
ps, and "a better distribution of the
which we have. ga"
n this. as in many other matters we
Sc refer for guidance to human expe- -,
ice elsewhere In no country has the II
-em Of advancing short time credits lou
griculturists reached the high state are
development which f found in Scot Ores
l. The Scotch banker has learned Vail
the farmer is, under well guard from
system, as fairly entitled so credits 49,,