The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1897-01-26

Ii the Democratic party would be such
party, it must meet with determination
all the aggressive moves made by cen
tralized capital for it's own aggrandtze,
ment. The fastening Of the gold stand
ard upon the Western world, is only |
an entering we dge for the establishment
of a moneyed o~ligarcby. The re open.
ing OF u mints to free silver coinage
can be nothing more than the entering |
wedge for it's overthrow.
We must no content curse yes with
striving to combat the upbuilding of a
moneyed oligarchy by working for free !
silver coinage alone. We must not
permit that ~oligarchy to tasGen Its
grasp upon our people through gaining
a monopoly Of the issue Of u paper
currency, a monopoly Of our railroads,
Or Of u telegraphs. The surrender
by the COVE rnmen to the banks of the
sovereign power to issue and control
the volume OF our paper currency is
urged upon Us with greater or lesser
vehemence, the control OF u railroads
I C[AN VCACeA0pH ~ Az ~ 14LBCIO . VI
speculative clIql' s is becoming more
and more marked. The banks on the
one hand and the railroads on the other,
are being turned into engines of specu
la6ion. This tendency must be con
batted. The banks and the railroads
must be run for the purposes for which
they were created, namely to facilitate
the distribution OF wealth and lessen
the COST Of distribution, not to enable
tn Jse who control the banks and rail
roads TO levy q tribute Oh such distri
button.
To increase the power of the b,nks
by handing over to them the control
OF cur currency ever while we So
them lending themselves to speculative
schemes, would be folly. A monopoly
OF the currency would give them I'm
trammeled power to depress and raise
Qrises at will, Gepress prices when they
aougbG TO buy in the properly of their
debtors and raise prices III they
turned around TO sell such Coph Gated
property. By so doing they could rap
idly gather into themselves the fruits
Of others toll. By arbitrary expansion
and contraction Of credits the banks
are now, IN too many C ses, worked to
foster speculative cIlqu's, worked to
depress pTtcas when The epeculatOrs
controlling them are prepared tt buy
and raise prices when they want to
sell. We want to curtail, not extend
the power of the banks. We want to
narrow their power to raise and de-
press prices not broaden that power by
handing over to them the control Of
our paper currency.
And so too, instead of permittir & the
control Of our railroads and t~elegraphs
by private monopoly the government
must assume such control. No party
that stands for the people can stand
IDLY by and raise no hand to put a stop
!, to the discrImiuatlOGs Of the railroad
, companies 10 matters of transportation
rates and facilities; determinations
practiced with a view TO upouIlding
certain favored Industries and under
mining others, pracCiced with a view
to enhancing the profits Of those who
will share such profits made at the ex
J pense OF the railroads, with the rail
rO8d fiji ;iAis, and Destroying the profits
of those upon whose property some
speculative clique behind the corpora
, ton has fixed a. It's prey. A railroad
! Is too often made the u~nscrupul0ue
? tool of son 6 peCulative clique. By
determinations IN freIghts and in the
rendering, promptly or other wise Of
y, transportation services, q railroad Can
enable the man favored with Rates
, made dishonesty low to drive his com
petitor. handicapped not only by high
O rates, bus b undue delay in the dellv
cry of his products, OUT of business. 10
a other words a s]peculator resolved on
. buying up at ~wreckage price some
4 established and profitable industry
! can, by making use Of g railroad as Ills
TOOL, make a wreck of such property.
To such a use railroads are often put,
O and 60 an eve increasing extent NJ
party that poses as a peoples party,
as q party aiming to secure an equality
. of opportunity to ali men, can tolerate
such use of our railroads.
g Nor can a peoples party tolerate
gross over capitalization Of railroads
and the charging of transportation
rates not warranted by the services
rendered, not needed to cover The cos
L Of transportation Or make a fair return
on the money invested, but mad:
| Unnecessary TO enable the railroad { O pay