The Bemidji pioneer. [volume] (Bemidji, Beltrami County, Minn.) 1896-1917, 1900-08-30

svorlsmen, a general lowering Of the
wages Of those still kept at work, and
the loss OF profitable markets to the farm
ers who supply the workmen's dinner
pail.
Secondly. the Wilson law, though In
tended to be "a tariff for revenue only"
was drawn up on such grossly erroneous
fiscal estimates by Secretary Carlisle that
il even failed to produce the revenue nee
essary to pay the current expenses Of the
Government.
Revenue Producing Protection.
The total deficiency caused by the four
years operation Of the Democratic tariff
law was $155, So, 1873. IT was this lack
OF revenue which forced President Clcve-s
land into the bnrdening of the country
with $262, $3.50 ,692 Of new debt. The only
way BY which the Government could fully
pay its current expenses was by drawing
on its gold reserve. The only way by
which President Cleveland could enforce
his conimendable resolve to protect the
gold reserve, and thus prevent his admin
istration from going out with the conn
| try hopelessly busted, through free sill
yer, was by the issuing Of bonds.
The Dingley act was, as expected. a
success both as a revenue producing and
as a protective measure. Within few
months from its passage all predictions
| were verified. and the receipts for Mo-
yember and December, 1897, and Janu-
airy, February and March, 1893, exceeded
the monthly disbursements Of the treas
ury.
| The Circu1ation of Gold.
| An interesting phenomenon noticeable
in 1897 was the appearance OF gold in
even the channels of~tommon circulation.
| Anybody who wanted gold coin, perhaps.
for the novelty Of seeing what had be-
cQme rare sight, could go to a bank
and exchange paper or silver for gold,
and find that the banker made the ex-
change not reluctantly but very gladly.
/ Bryan had pointed to the apparent scar-
city of gold coin, and to the difficulty that
had been attendant on keeping up the
| gold reserve, as proof OF his theory that
| the volume Of gold was too small to form
d sufficient basis for the money circula-
ton OF the country. But after Bryan
was given leisure to writesup The FIRST
1 Battle gold ceased to be scarce, for 1t
had come from hiding, and nobody es-
peciaily wanted it. Since doubt had been
] so completely removed, and our own peo-3
| pie as we'll as the whole world had been
| given so thoroughly to know that all
kinds OF American money were just as
| good as gold, every bit, then why should
| gold be especially wanted when other
kinds Of money were not only just us
good, but We're more handy to carry?
The Full Dinner Pais.
In the autumn OF 1897 there was an
| enormous crop Of wheat in the United
| States. Other years, however, have seen
| bumper crops, but mighty poor prices und
no prosperity Kansas has seen corn
through heavy crops become so cheap
/! that it was used for fuel.
| But in 1897 there was demand for
! wheat, corn and other grains. The full
dinner pail" OF the American workman
was becoming n new factor in the ratio of
demand to supply of farm products. The
| mills were again being opened through
| the passage Of the Dingley bill. Capital
4 was becoming more aggressive in enter
| prise and saw profits, not losses, in BUSH
| ness expansion.
! With the American workingman in
such position that his dinner pail had
to be filed first, the foreigner was put
| into an excited, impatient, worrisome
mood. America, despite its enormous
crop, contrary to precedents, was not
selling literally. Consequently prices
! went booming upward. The average price
| per bushel on the farm reached nearly 81
| cents. In 1894 it had been 40 cents. in
1895 less than 81 cents, and in 1896 it
/, was T3 cents.
| Foreign money and the money of the
populated centers of the East began pour
/ ing into the great agricultural area Of
/ the Middle West.
The farmers who had been barely able
to keep the wolf from the door and pre-
vent loss of mortgaged homesteads, now
/ felt themselves flushed with wealth They
began to spend money for clothing, food,
farming tools, and to pay off their mort
cages. A great debtor class, to whom
Bryan had vainly limited the saving that
could come to them by the cheating Of
their creditors through accent dollars.
4 fast became creditor class. Accounts
were started at country banks, and farm
ers who had been borrowers OF money be-
came lenders OF money.
OF coufse this great prosperity of the,
farmer began at once to increase the
prosperity of the city laborer who had
furnished the initial cue given him
4 through the yietory of the Republican
party. There are upwards of $500, 600
! farmers in the United States, as against
! s,,00000 Industrial workers.
Farmers Make Work for Wage Farmers
/ These $500, 600 farmers made extraor-
dinarily heavy buyers of what the ), o00,-
/ 600 industrial workers produced, AS a
consequence great industries, which had
been stagnant under Democracy, became
/ active and profitable. In competition for
i labor they were forced generally TO raise
4 wages.
The enormous expansion in the value Of
exports from the United States, from