The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1914-11-24
Fight Before Congress.

toul VI Ills
ton"
Fight Before Congress.
lust q brief statement of the fght
made by the farmers before Congress
We had seen our value shrink 90 per
cent within sixty days ecaus OF
temporary suspension CT foreign Oe-
mand. We asked for a loan of cur
rency at a low rate of interest that
we might pay our obligations and hold
our crops until the Generalization OF
| markets due to the European war had
passed. Under the constitution Of the
United States, Congress alone has the
power to coin money and regulate
the value thereof" This is a right
that belongs to the people and Con-
gress has no right to take it away from
the people and give it to a small class
Of. the citizenship. But this has been
done. The government coins money
and prints money but instead of iSSu-
| ing it direct to the people at a low
rate OF interest, it is turned over to
| the National Banks and they control
the distribution of it n the rate OF
interest just as it suits their own
interest.
The government turned a deaf ear
to the just demands OF the farmers
but continues to issue cheap money
to the National Banks Of the country.
Hundreds Of Millions in Interest
Inc DduklIlS system OIL our COuIllIy
has enabled the few to levy tribute
on the many without giving in return
a value commensurate with the tax i'm
posed. Something like seven hundred
million dollars are paid in interest
alone every year, to say nothing Of
the manipulation Of prices which re-
suits from contraction II expansion
Of h volume of currency at the plea
! suree of h great financiers.
This iC an QcOnGmiC crime and a
moral wrong. The government should
do all of the banking business of the
country on a low interest rate for the
benefit Of all the people, and not for
private n unlimited gain as now OBJ
tainS.
If the experience we are now pass
ing through serves to unite all the
farmers and laborers in demanding a
system of farmers banking adapted to
their needs, backed by the govern
ment n independent of the COM
mercial banks, then it will be well
worth the cost, though bought at the
sacrifice of a crop.
In this arraignment Of the bank
ing system, it is the system and the
men responsible for the system that
1 condemn n not the honorable
citizens engaged in the business OF
banking. The system is wrong and
can not be made to do justice to al!
the people.
Must Hang Together.
In addition to the financial reforms
which the people need and are en-.
titled to and must and will get in time
there are many other matters tt
which we must direct our united eff
forts. There must be nc 'let up" il
or relaxation Of the active work o.
organization. The people must bt
made to realize the necessity for hang.
inc fnUofhor AC E>ro rll;n Coid Sff NJ
don't all hang together, we will al
hang separately" And there u b.
a definite p in organization. In
/ action means death. Make a dag
nosiS Of the economic diseases tina
affect your community and your Clas
then find and apply the remedies
: Don'r let your locality be like a DO,
l with hookWorms.
Cooperation.
A more economical method of buy
2 ing and selling must be established
This can only be done successful.
= through farmers warehouses and bus
= ness agents.. These enterprises shout,
be conducted on the Rochdale system
: of corporations; which is that divi
dends be limited on capital and tn
: balance of profits paid to patronage
i This is the only true cooperate,
t business.
Every cooperative enterprise
Whether limited to n CT two lOca
u~nionis or extended to one or NOR
= county unions, should be launChe
, for a definite purpose, to obtain speci
&c benefits, the business to be en-
: larged as wisdom n experience ma
direct.
Il All Of these agencies should b
federated through the State Union
and in this connection l commend fC
8 your consideration a report adopte
by the county business agents in ses
sion at Raleigh in October. Ignorane
y is the bane Of any people. Throug
ignorance the farming and lahorin
people nave submitted to gross impt
;. sitions too g%rievous to be bOurns /
. an educated populace. For ack
knowledge in our calling we ha,
r been inefficient labOrers. The return
are not commensurate with the Blu,
s. den or our efforts. Wise planning ar
N Intelligent direction are essential
he the success Of any business.