Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1936-10-01
TWELVE LONG YEARS
Editor ASkOv American:

Editor Askov American:
In 1929. the peak year of the Repub-
lican prosperity. the corporations paid
to their shareholders the sum of 3d.
47S.O0O,O00, or an increase of 356 per
cent over 1922. After the Wall Street
crash of Ocober, 1929, and the inner
circle of the financiers' linen became
dirty enough in the public eye after
about 5000 banks closed their doors,
and the peoples hard earned savings
vanished into thin air, then they got
busy and reconstructed the Finance
Corporation, and after Mr.. Hoover
signed the Reconstruction Finance
lowing statement: 1.-The Reconstruct
tion Finance Corporation is not Gre
ated for the aid of big industries and
big banks. such institutions are amply
able to take care of themselves"
Such was the baptismal water poured
Banks got S07 millions. railroads got
1928 millions and farmers got 81 mil
lions. There are more farmers than
banks and railroads combined. But
the Republicans didn't know that.
In 1929 our national income was
about $S5,2OO, 100000 and in 1882 it
melted down to about $37 500, 900, 900,
or loss of about $47,7OO,OOO,OO in
three years. The farmers peak year of
income was 1920, or at the close of
Wilson's administration. According to
1886 U. S. Department of Agriculture
at that time he got 272 out of every
514 of the consumers dollars and the
professor and dealer transportation
got 242, and at the end of 1892 he got
only SO out of 27O that the consumer
paid and 1872 got lost in between, or
drop of ia. Such are the IL years
of Republican prosperity. And in 1895,
exclusive of processing tax, he got 1873
and the professor, etc. got 1872 while
the consumer paid 331, or an increase
of so per cent for the farmer under
Roosevelts administration.
Is there any reason why we should
vote for the Republican ticket this
fall? Haven't you been fleeced enough
and that through only a small part of
the Republican deal. Now comes de-
structiOn of credit or money. AS to
the subcommittee of Committee on
Banking and Currency, House of Rep
resentatives, April 1892, Governor
George L. Harrison of the Federal Re-
serve Board of New York, stated:
Had we in 1927 and 1923 told you
in advance that we were going to sell
S40O, 100000 of gold which takes the
basis for nine billion of credit out of
this country you would have vigor-
ously condemned such action"
The carefully planned and unscru-
pulously executed conspiracy brought
the results expected. In the annual
report of the Federal Reserve board
of 1880 you read the total liquidation
of credit from May, 1929, to Septem-
Der, 1880, amounted to over $780,
100000. Yet this was only a start.
The financiers apparently not being
able or not wanting to stop, so be-
tween October, 1929, to December,
1888, the deflation of banks-credit-
the destruction of the very means
by which the business of the country
was to be transacted-reached the
staggering sum of $2O,224, 900, 900.
Such is part of the history of the IL
long years of Republicanism. Now is
it any wonder that the banks had to
close in 1888 and the dollar cheapened
through the gold act of 1893 by Roose-
welt to save the nation from going to
the dogs?
wonder how my Republican friends
like this picture. Are your speakers
who are going around campaigning
telling you what they have done? Oh
no, they are very careful about that.
All they do is to sling mud at those
that saved their hides for them.
Isn't it about time, my friends. that
you stop and take few hours off and
take in the Farmer-Labor meetings,
or better still, come in and join the
parties that are bringing you the
truth and are fighting for you and
your children and are trying to save
the nation from the greedy exploiters
that live off the products of our toll.
Think it over before it is too late
LAURENCE v. UBL.
Hinckley, Mimi, Sept. 13, 1886.