Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1900-02-02
J lALTGELD ON THE ISSUES.

Ex-Gov. AItgeId, Of Illinois,
at Sioux Falls. IL
Discussing the question of CONNER
cial life, Governor Altgeld called at
tention to the fact that the prosperity
of the people here in northwestern
city and state will depend on whether
or not the people are given markets TOR
their products. Ifthey are compelled
to sell their products in restricted
markets and must purchase where they,
must pay high artificial prices, they
cannot prosper. The history of our
country the last two years proves the
truth of the economic theory which we
contended in 1896, namely that the sup
ply of money in the world regulates
the purchasing power thereof. It has
been demonstrated that we were right,
and we now cay that the prosperity OF
the United States should not be made
to depend upon the accident of fam
inc in other countries. We have had
illustrated the past month all OF the
effects of a contraction of the currency.
We have seen sudden stoppage of the
flow of money into the channel of trade
with the result that money has been
so much in demand as to command an
interest rate of 1856 per cent. Going
further into The currency question the
governor presented some well known
facts in regard to currency and coinage.
The people here must sell their pro-
ducts in the markets of the world. If
the basis of the currency is but one
half as large as it should be the sellers
of these products will get but one half
as much With the narrow basis busi-
ness will be contracted. When the
farmer has to sell for lower prices he
cannot buy as much of the merchant,
the railroads suffer, the factories are
idle, and soon there is a paralysis of
business. The banker cannot proper
until all around him prospers. The
only person interested in maintaining
the narrow gold standard basis is the
man who is very wealthy and has large
sums of money to lend, While, because
of this restriction of the currency basis,
the farmers of the west are compelled
to sell in markets which are too mar
row, conditions have arisen recently
which compel all consumers to pur-
chase the necessities of life at artificial
prices. .~ II
Il has come to the front that almost
every article Of necessity is now con-
,rolled by the trusts They have re-
duced expenses, but they have found
that they could mark up prices and
this they have done without any re-
gard 10 right or justice. Oh! but
wages havh also gone up, some one says.
Yes wages have gone up in some cases,
but in the great majority of American
factories there have been no increase in
wages. When wages have been raised
it has been perhaps 10 per cent, but the
product sold has been marked up 80 or
100 per cent in price. This cannot go
on. The system makes few richer
and the many poorer. What can be
done? It is quite probable that as in
other great problems it will require
time and experiments, and no perfect
solution can be delivered in advance.
But it is certain that legislation will be
needed to effect q remedy, and the
question is which party can best be en-
trusted with the necessary legislation?
Looking about we find that, however
it may have come to be so, the trusts
are all camping in the Republican
camps do not know why they have
done so. but trusts are managed by
shrewd men and it is presumed they
are in the Republican camp because
they feel that there they are among
friends. When that party wae guided
by the great Lincoln it stood for equal
rights. Strange as it may seem to you
who have been reading the administra-
ton speeches the time was when the
Republican party stood for the Declar-
tion of Independence. Now it stands
for the opposite in everything for which
it stood when it was organized.
We have before the American people
today a remarkable spectacle. On the
one hand we see many great American
statesmen who are calling out for q
halt They are saying that the policy
now being followed by the present ad-
ministration is dangerous. They de-
clare that we have entered upon policy
which is subversive of American liberty.
But the administration declares that it
ia aouestion ef expansion. Why, even
the president of the United States in
his tour of the west declared that our
action tward the Philippine archipel-
ago was just like an acquisition of
territory on the American continent.
R,t there was every difference in the