The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1897-11-23
DIR. lott LRrrRR.

timely letter and should be carefully
read. The letter is al follows:
s~TATEsvILLE N. O., Oct. 12, 1897.
Hon. ID. Z. Russell, Raleigh. " c.:
DEAR Go~vERNoR:-I am, and have
been all the time, in full sympathy
with your railroad policy, and I trust
that no talk of your losing friends will
have the least effect to change your
course | know that most people, re
CARELESS Of party, are with you on this
matter, for you are protecting the peo-
pies interests.
Owing to the feeling in the Southern
States on the money question. / believe
that this Southern Railroad Company
was formed with q view to control the
politics OF enough OF these States to
prevent q change of the money policy
Of the government. A JOINT co opera
ton Of the Southern and Western
States favorable TO q change could elect
q President and a Congress. The trusts
and bankers know this. There is so
little money in the Southern States and
such dependence exists, that the rail
roads r controlling large numbers of
our influential men of all parties. It
is an awful danger. since the men who
own the roads are mostly foreigners,
who, coupled with capitalists and paid
alice an this, believe in the domination
of money. Once thoroughly fixed and
settled according to their ideas and
wishes, the owners of the railroads can
shape the legislation of any Southern
State, and of any Western State save
q few of the mining States.
While the roads in this State were
controlled at home, I was a strong
friend Of the roads. and even against the
interference proposed by the Farmers
Alliance. But since the purposes of
the money power have been disclosed,
I would infinitely prefer to see the
roads torn up root and branch by the
people, rather than such instruments
should exist to Cypress the people. 1t
were far better that we were remanded
to the patriotic, liberty loving, indie,
pendent condition that existed before
q railroad whistle was heard in the
land, than that these roads should be-
come the tools of the merciless foreign
money power to subject US, and con
troll the fruits Of our climate and our
labor.
Just think of the management of the
sale of the cotton crop, in review of
it's history since 1865, and e what a
carefully devised system has been
formed to resist the prosperous Rd
vsucement of the cotton section. The
first two years of cotton crops after the
year IS gave a large surplus of money
over the cost of production. This sur
plus was used to help repair the wastes
of war and restore vanished comforts.
In the time of it, however, the calcu.
lating manufacturers of the world dis
covered that any continued consider,
Role surplus Of cash in the hands Of the
cotton producers would go into the
cotton factories-that the more favor
able climate, the cheaper cotton fac
tory labor, and the saving in freight,
would give the cotton section such an
advantage as would greatly injure cot.
ton manufacturing elsewhere.
There was only one way to prevent
the rapid increase of cotton manufac,
turing in this section, and that was to
reduce the price of the crop. The way
to reduce the price was to reduce the
amount of money in circulation.
Through the corporate privileges Of the
National Banks, and ceasing the coin,
age of silver dollar, this was made
easy, and to day the cotton crop is at
the spectators and manufacturers who
handle it.
By a carefully prepared system OF
reports these spectators know by the
time the first bale Of cotton opens near
about the number of bales the world
will produce. The intimate and neces
sary relations between the National
Banks (alI the Southern banks keep
accounts with the New York banks)
furnish information to show how much
money the banks in the cotton section
can use in moving the crop. 1t is a
very small portion of the amount nee
essary. The spectators and manu-
facturers unite in naming the price,
and the New York banks distribute to
the Southern banks just enough money
to move the crop at that price, and no
more.
The price has been held down now
for many years in this way at just
about what it costs to make the crop
and give the laboring farmer sufficient