Year: 1873

We often hear men asking the
question, ''Why is that there ap-
pears to be a general stagnation in
our American industries"' To our
mind there is only one cause to which
this may be legitimately traced, and
that is to the present financial system
of the government. Under the pre-
sent system money has become too
UaJuable, and men are employing it
in a channel detrimental to the great
laboring classes of the nation. If
grain is moved to a distant market,
Is per cent. is paid by the specula-
tor to the banks for the money to do
it with. Of.course the producer has
this to pay, and consequently has to
take less for his grain, so a margin
will be left for the speculator. This
is too great tax upon the agricul-
tural interest of the country, and
will eventually end in destroying, to
some extent, that great interest
What business, we ask, can at pre-
sent afford to pay 10 and IS per
cent. semi-annually or quarterly
which may be compounded-and
succeed? None. Moneyed men are
now realizing from 20 to 25 per cent.
per annum, on their investments in
the national banks. Who pays this
interest? The farmers and laborers,
the life-blood Of the nation. How
long will it be until this policy will
suck up all this life blood, and we
will be nation of paupers and beg
gars? If it should be continued
some of the present generation will
live to see that day. We are no
alarmist, but that day will just as
certainly loom up before the Ameri-
can people, as to-morrow's sun, if
there is no radical change made in
our financial system. The present
party in power have all the time
been legislating for the moneyed in
terest of the country to the detri-
ment of all the great industries. If
money could be borrowed at a rea-
sonable per cent. manufactures
would be erected here in the South
the farmer would sell his produce
at higher figures, and a general pros
perity would be visible in all parts
of the country. "Can the present
state of things be remedied" asks
the people. OF course they cam
Turn out your present rulers and
put those in who will legislate for
the material interests of the country
men who will tax the bond-holder
as well as the plow-holder. Under
the present regime the plow,holder
pays all the tax to carry on the gov
ernment, while the bloated money
king reclines in his easy chair and
receives from that government gold
in payment for the interest on his
bonds. Put men in Office who will
stop this interest by paying the debt
in greenbacks, and make banking
free. Let this be done, and all the
varied interests of the country will
receive a new impetus. The present
party in power is carrying out the
old federal dogma of Alexander
Hamilton, 'that the government
should take care of the rich and then
let the rich take care of the poor"
This policy might have been practi-
cal in the purer days of the Repub-
lie, but it will not near answer for
the present degenerate days. The
great need now of the country is a
good, sound and honest democratic
administration-suc an one as An
drew jackson gave us-and until we
get that the great masses of the
American people will remain chew
ers of wood and drawers of water"
The people have the power in their
own hands and they should make
change of their rulers at the earliest
practicable moment.