The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1899-08-22
sMRS MURDOCH RALLIES TO
THR DEFENSE OF TRUSTS.

S8yS ASI A4SNS S4bCo No OSSSSA AWSS0
and That all That is Necessary is for
Each Glass to Form q Trust.
Correspondence of The Progressive Farmer.
The organization Of farmers trusts
and pushing up prices will place a bank
account to the credit Of the farmers
and every class that is now compelled
to borrow money. With a bank C
count to the credit of the industrial
classes there will be few borrowers and
money loaning will nolonger be profit
able. .., .~1... n:.as ..
The banks are run for profit, and
there must be borrowers to make them
profitable. An advance Of prices and
wages means that money is depre3iat
ing in it's accumulative power. When
prices advance, those who have money
hasten to invest. The banks viii! IN
vest their money as 500 as they see
there ia to be q steady advance OF
prices until we have reached the maxi
mum. AS prices advance money loan.
ing will a to be profitable and the
banks will surrender their charters
and government banks will take their
place and money will be furnished at
cost to the trusts, and this will take
place without q political fight, which
so far has redounded to the benefit of
the creditor class. All that is neces-
sary to destroy the present banking
system is to make the farm, factory
and every industry pay better incre
MEETS, then money loaning and the
men engaged in the business will vol
UNFAIRLY surrender their charters and
go out of the banking business.
The government will use all the
money and put a large per cent. Of the
new issue into circulation by making
public improvements. To transact the
business of the country on a cash basis
there will be an issue of United States
notes of not less than fifty dollars per
capita or their billion and five hundred
million dollars, aud out OF this will be
appropriated sufficient to build i'm
mense structures at each central dis
Eributipg point for the convenience OF
the trusts, and in these buildings will
be stored the more perishable products
of the farmers for the use of the CON
sun ers. With maximum prices and
wages the money would pass unGer
the control OF the consumers and there
would no longer be any nt cessity Of
deposIting the farm products and Rd-
vancing money on IE. The trusts would
be rich and money would be paid direct
TO the producer on hauling his o
perishable products to the railroad,
ana this would go to these immense
structures TO be distributed all over
the United States where needed. This
extra issue should be- used to macad
anne u dire roads and establish
eight months schools all over the
UniIed States.
R ader, keep this fac in view, that
money boarding cannot be maintained
with maximum prices. Labor on the
farm, in the mine and factory produce
all wealth, and with a profit On every
transaction the money passes into
their hands and remains there. The
ouly way money loaning can be made
profitable is TO make the productive
enterprises less profitable than money
loaniog. This fact is well known to
secuF ed that will force competition
/ that will COMPEL the industries to bor-
row. II the profits on money is the
best the money loaners absorb all the
money and pile up a debt. If the pro.
ductive enterprises pay the best, they
absorb all the money and pile up
wealth. Force prices towards the maxi
mum and money losning becomes I'm
profitable and money hastens to invest
in some otAhe industries
The creditor class has always been q
bear forcing prices below the max
mum, 80 they could ind borrowers
and increase the purchasing power OF
their credits With n hundred end
h'ty billion dollars of credits the cred
TORS intent hs been TO maintain the
purchasing power of their credits to
the m aximum. and to accomplish this
they must force the prices of the in
dustrial class TO the minimum. The
creditor class are intent on increasing
the purchasing power of their credits
and the industrial class are int rested
in increasing the purchasing power OF
DON'T SUFFER1