The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1900-03-13

Preventing the Growth of Others de
stroy Spec al Privilege and You De-
stroy the rust
Correspondents or the Progressive Farmer
/ was appointed a delegate 70 the
recent Anti Trust Conference In Chi
cago, but was unable to attend /,
however, furnished q paper upon the
subj ct under discuss sion, and at your
request, give herewith my views as
expressed in the paper presented.
In order to overthrow the trusts it
is necessary to
DESTROY THE CHIEF AGENCIKs BY WHICH
THEY ARE DEVELOPED AND MAINTAINED.
One Of the first of these are the rail :
roads. By lower rates, rebates and
better facilities for transportation
granted to favored individuals and cor
porations the railroads enable them to
destroy the business of their competi
tors and thus establish and maintain q
monopoly. Many Of the most Cypress
i've monopoIies with which u coun,
try is burdened were created, built up
and are being maintained, by this
agency. The Standard Oil Company
lie q notorious example. Toe only
remedy for this i5 in complete control
OF these great highways of commerce
by the government through ownership.
We have for years tried to control
them by q commission but it Is q com
plete failure. The situation grows con,
stantly worse as the commission plain
" admits.
SECOND REPEAL THE SPECIAL LEGIsLA-
TON
with which u statute books are
loaded. Such legislation is as q rule
concocted and procured by the shrewd-
est, most capable and enterprising for
their own benefit. There is a great
difference in the ability of individuals
TO acquire wealth. The disproportion
Is so great that under normal condi-
tions the inequality in conditions
among our people would be danger Gus
to the beet interest of all; but we have
intens fed the evil aud precipitated
the danger greatly by class legis lation
to the benz fit Of the few at the expense
of the many and rapidly increased the
inequality nthe distribution Of wealth,
making the rich richer and the poor
poorer. We have aided the strong
against the weak; whereas, it would
have been the part of true wisdom to
have at lesstprotected the weak against
the strong. The worst OF this class
legislation is in regard to finances a1d
taxation.
Our financial system has proved a
Wretched failure, as it's history sinca
the organization Of our government
clearly proves. It's chief characteris-
tic is instability. We have ever had
periods of prosperity followed by
periods of disaster. This is true OF
bimetallism as we'll as of monon etBl
ism for the two are essentially the
same and have the same inherent de-
fects.
We require our money to have a
supposed Intrinsic value mainly ar
ti6cial and thus have a 81 stem of ex-
change that is a Gu mbersome cCntinu-
ance Of that relic of barbara m-barter
Metal alone being money and the sup
ply beiag too small for the demands OF
commerce we erect on it a huge struc-
ture Of credits that is like a pyramid
standing on ios apex ready at any time
to toppie over and cause disaster and
ruin. It should be borne in mind that
whilst these constaD thy recurring
panics for a time limit the production
of wealth they do not destroy; they
simply transfer it and thus are a pow
erful agency in helping to make the
rich richer and the poor poorer. The
far sighted and calculating not only
use them when they occur to take ad-
vantage OF their more enterpFising
neighbors, but often precipitate them
for that express purpose.
It's Instability is increased by the I'm
certain supply OF primary money. The
uncertainty in supply results from ma
terial causes often greatly intensified
by artificial causes. The production
Of the precious met al or metals varies
greatly. We have a practical illustra
ton of this in the present rapid in
crease in the production of gold. 1t
has in recent years increased at the
rate Of 20 per cant. or more per annum,
which has already had a tremendous
effect on our finances and business. 1t
recalls the rapid Increase in gold pro
duction from 1850 to 1860, which go
startled the'political economists Of that
day as to cause Germany and Den
mark to dem1ne IL it.