Crittenden record=press. [volume] (Marion, Ky.) 1907-1909, 1908-09-17
THE A. y. OF r.. AND THE MONEY
PANIC

The necessity OF a farmers Or
ganlzation becomes more and more
obvious as time advances. The
truth OF this statement can be sub
stantiatcd. perhaps. In no better way
than by discussing one OF the ques-
lions Of the day, 1. e., the money
panic" No one knows the cause
OF the money stringency at this time,
and, as was stated in one OF our
dailies not long ago: "Statisticians
Will have trouble In the future. when
they strike the fact. that 1907 was a
year Of the creates; prosperity. and
OF panic"
I stated above no one knows the
cause OF the panic. but | will modify
that statement somewhat as perhaps
the trusts, spectators and the money
kings do know the cause.
After liberal discussions with
bankers and business men OF various
cities, and after noting the many ar
ticles written by very intelligent
writer's In the daily papers and maya
zines on this subject. the writer still
has no enlightenment as the cause
OF the panic
Like physicians in a case OF sick
ness, we would find. first. the cause
of the disease. and then, having
found 1t. we could apply the remedy
more successfully and perhaps pre-
vent n second attack OF the troubles
noted writer recently suggested
the passing OF a bill by which and
through which the banks and fnan-
cial institutions be supplied with
more currency in the all OF the year.
stating as his reason that the money
stringencies invariably occur in the
TALL OF the year: that moving the
crops" requires a vast amount OF
money in short period and that this
extra supply OF currency be used for
that purpose.
VIII you, brother farmers, lust
stop and read those thret words
again, and then consider the vast
meaning OF the sentence preceding
them.
upon this proposition we base our
entire argument Not that we need
an extra supply of currency In the
fall or the year TO move the crops -
hut that we market our crops gradu-
| ally throughout the year. thereby
meeting the demand OF the con
sumers and also the steady supply
~ currency.
| AZ ] view the situation, II would
be FOLLY To even make an attempt al
supplying this extra amount OF funds
Tor moving the crops"
While It is true that money. when
IN circulation, is the foundation OF
! prosperity, yet II Is no less true that
nut in the hands OF a few. II is the
menace OF n nation.
Pnt an extra supply OF currency In
he banks and financial institutions
In the fall OF the year with which
TO buy the crops in a short period
and you give a greater scope, a
larger field. for speculations in farm
products. DO this and you will en-.
courage that abominable crime which
the farmers. by organization, are try.
Ing 70 eliminate and against which
every true American citizen should
revolt.
IL II is true (and perhaps II isl
that the moving OF the crops Ia the
cause for money s,ringencies, then
brother farmers, let us push onward
with organization on the A s. OF r.
plan as never before, never firing
never ceasing. until our band is large
enough and strong enough TO have
concert or action to such an extent
that the farm products will be mar.
keted gradually through the year
and we will not need an extra supply
OF currency In the fall OF the yeaI
to move the crops" from the farm
into the hands OF the grain gamb.
lers.
Furthermore, when we become
thus organized we can demand bet.
ter banking laws, and get them.
Thorough organization In the
American Society of Equity is a sure
preventive OF money panic"
ERNEST +. KROST,
Nice-Pres. III. State Union. CARLYLE