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THE PROGRESSIVE FARMER : MARCH 31, 1896. THE PROGRESSIVE FARMER. MRS. L. L. POLK, - Proprietor. J. L. RAMSEY, - Editor. J. W. DENMARK, - Business M'g'r. Raleigh, N. C. SUBSCRIPTION I Ingle Subscriber, One Yer I Six Montiia.. 75 live Subscriber, One Yetr....... 5.00 len " OaeYer 10.00 One copy one yetr free, to the one Bending Club f Ten. Cvth Invariably in Aavcmee. Money at crar rick, if cent by registered letter r money order. Plst don't tend ttamp. Advertising KAte3 auoted on application. To CorrtsvonZentt : Write all coaunTinlcatlons, designed for pub lication, on one side of the paper only. We want intelligent correspondents In every county in the State. We want factiot value, results accomplished of value, experiences of value, plainly and briefly told. One solid, demonstrated fact, is worth a thousand theories. The editor is not responsible for the views of correspondents. RALEIGH, N. P., MARCH 31, 189(T ThU papr enter tX at leeotul-elati matter at the Pott Oflce in Raleigh, N. C. The Progressive Farmer is the Official Organ of the N. C. Farmers' State Alliance Do you want your paper changed to another office ! State the one at which fou have been getting it. 7" Our friends in writing to any of our advertisers will favor ua by men tioning the fact that they saw the advertisement in Tub Progressive Farmer. 7" The date on your label tells you when your time is out. " I am standing now just behind the curtain, and in full glow of the coming sunset. Behind me are the shadows on the track, before me lies the dark valley and the river. When I mingle with its dark waters I want to cast one linger ing look upon a country whose govern ment is of the people, for the people, and by the people, L. L. Polk, July tfh, 1890. N. R. P. A. EDITORIAL NOTES. We have a communication from Rock Alliance, Rowan county, signed "O. C." If the writer will send his full name, the letter will be published. Send in your stock for the Alliance shoe factory. It must be runniDg in time to make our winter shoes, and it -will be if each brother will do what he can. The Populists declare that the finan cial question is the great issue. But our Democratic friends are content to rock along with "harmony" inscribed on their banner. We want to state officially that the fools who believe the goldbug yarn about making money plentiful by stop ping the making of it altogether, are not all dead yeS. We see no signs of Democratic Popu list fusion in North Carolina, nor in any county in the State. The report that it has been effected is probably the same old campaign lie in another form. Failures for the past week foot up 259 againet 234 for the same week last year. Liabilities much heavier, show ing that large concerns are going under. See the beauties of the gold standard? Wake County Alliance will meet vvith the L L. Polk Alliance at the A. & M. College on the second Thursday in April. The brethren of this Alliance will furnish a dinner for the delegates. .Let's have a full attendance. It seems a little strnge that people build a handsome church, dedicate it to the service of the Lord, and then epend 1200 putting up a lightning rod to keep the Lord from destroying his own property before the summer is over. Get ready for the County Alliance tneetings, moat of which will be held on the second Thursday in April. Stir up your Sab Alliances and select good delegates. Can't have good county meetings if you dc n't have good Sub Alliance meetings. If certain Democratic newspapers who are so greatly concerned about the National Alliance dropping one of its planks, the sub treasury idea, will explain why the Democratic party has abandoned every principle it ever had the public will feel relieved. Bro. J. T. B. Hoover sends in a nice club, for which we thank him and writes: "I have just finished up a trip through Robeson county. Have reor ganized several Alliances, and hope much good to the Order will be the re suit." Bro. Hoover knows how to stir the boys, and we trust he may be kept at it. No wonder Spain can't conquer Cuba. Two detachments of Spanish soldiers mistook each other for Insurgents the other day and before they found out me misiase seventeen soldiers were dead and &i wounded. It is always safe to multiply the Spanish telegrams by ten, so probably 170 were killed and aome eight hundred wounded. THE LAW DOES MAKE MONEY. There is no getting around it. Law makes money just as certain as it makes anything else, the goldbugs to the contrary, notwithstanding. If not, why not? Fiat money is an illusion. If the law says that a piece of paper worth less than one sixteenth of a cent is a 50 bill, it is so. Same is true if it says 62 cents' worth of silver is a dollar. No well informed person will prate about fiat money. No such a thing as depreciated money unless it is made so by hostile legislation. If the law says a man must suffer death for taking the life of a fellow being, he is a dead duck. The law is supreme, be it good or bad, just or unjust. The English goldbugs declare our silver dollars are only worth 62 cents, yet they take $300,000, 000 worth of our bonds at a premium and the paper they were printed on is not worth 200. Liars, thieves and scoundrels they are, and only fools be lieve in such trashy We venture to say that the U. 8. Su preme Court, jwith all its brazen au dacity and cringing devotion to plu tocracy, will not go so far as to declare that law does not make money. A de cision rendered some time ago is entire ly opposite. Read it: "Whatever power there is over the currency is vested in Congress. If the power to declare what is money is not Congress it is annihilated." Supreme Court Reports 12th Wallace, Page 545. President Lincoln found out that law could create money, though even ho seemed to hesitate. Oa page 55, "Words of LincolD," is found tho following in his own language: "You (Taylor) came, and I (Lincoln) said to you, 'What shall we do?' Said jou, 'Why, issue treasury note? bear ing no interest, printed on the best banking paper. Issue enough to pay off the army expenses, and declare it legal tender.' Chase thought it a haz ardous thing, but we finally accomp- lshed it and gave to the people or this Republic the greatest blessing they ever nad their own money to pay their own debts." Senor M. Romero, minister at Wash ington from Mexico, has written a let ter to Judge Walter Clark which con tained the following: I have read your articles in the "Arena" .on Mexico, and I write to congratulate you on the clearness, fidelity and accuracy with which you have stated the condition of affairs in that country, and especi ally the financial situation." The Charlotte Observer will please make a note of this. THE STATE'S DEBT. The State's Bonded debt, at present, stands as follows : New 4 per cent. Consolidated bonds ...S3.34,730 6 per cent. N. C. K. K. Construction tfonds ',.uj Total Bonded debt ..$6,007,710 The interest on the 4 per cent, bonds is due semi annually, in January and July, and is paid upon presentation of coupons, out of special taxes levied for the purpose. The interest on the 6 per cent, bonds is provided for out of the rental com ing in to the State Treasury from the N. C. R R. The amount of this G per cent. Interest. per annum, is glbJ.UU The rental coming from State's stcck in the N. C. K. K. lease has been 180,012 For six years it is to be 210.UH Then for 9: years, finishing out the 90 year's lease i,vii The total interest then will be : On 1 per cent, bonds, per annum. $133 010 On t per cent, bonds, per annum ltUJ.AW Total interest $297,1 10 Now if this whole income from the rental of the N. C. R. R , 1225,015, should beset aside to meet the interest on the bonded debt, $297,110, there would be left a deficit only of 172,095 to be provided for by taxation. There are old refundable bonds still outstanding, which will require the issuance of 1270.910 new in 4 per cent, bonds, provided they shall be presented before January 1, 1897, at which time the law expires. HE WAS MARSHAL NEY. The writer has always believed that the old Rowan county school teacher who bore such a striking resemblance to Marshal Ney, and whose remains are in the graveyard at Third Creek Church, was genuine, that Ney was not shot in France. Rsv. James A. Wes ton has devoted much time to the collec tion of proof of the identity of the great Marshal, and the following from the New York Times furnishes another strong link in the chain : The Rev. James A. Weston, rector of the Protestant Episcopal Church of the Ascension, at Hickory, N. C, who lately wrote a carefully prepared work on "Historic Doubts as to the Execu tion of Marshal Ney," has informed his publisher, Thomas Whittaker of this city, that the theory that Ney was not killed on the day he is supposed to have been shot in France, on December 7eh, 1815, has been still further confirmed by recent researches. According to Mr. Weston's book, Peter Stuart Ney, who taught school in North and South Carolina and died on Nov. 15, 1846, was Marshal Ney. After diligent search, Mr. Weston was able to learn that a son of Marshal Ney called upon Peter Stuart Ney about seventeen years after the latter's ar rival here, but whether this son went back to France or remained here was not discovered until a few days ago, when Mr. Weston found the missing son, who is a respected and venerable physician. Dr. Weston writes: "I found the old gentleman," writes Mr. Weston, "now eighty-eight yearo of age, living in a small Kentucky town not far from Louisville, Ky. When he learned my errand he evinced no hesi tation in admitting his identity. He said that he came to this country in 1837 and paid a visit to his father in exile. His father gave him $1,000, and he entered the Jefferson Medical Col lege, in Philadelphia, from which in stitution he was graduated in due course with the degree of M D. Dur ing his whole life in the United States, however, he has lived under an as sumed name. He had read the book relative to the identity of his father and Peter SLuart Ney, and admitted the correctness of the facts.. He said that on the evening after the supposed execution his father visited the house of his mother in Paris and remained a few minutes. The man was not willing to speak without reserve about many matters, but he has written a history of his father, which he has placed in my hands, to be published after his death. The old gentleman fought in the Mexican war, and is now involved in some international compile ition be tween the United States and Mexico. Mr. Weston says the man's identity will not be disclosed until after his death. - - A NICE FIND. State Treasurer Worth and Chief Clerk Denmark took a notion last week that they would dive into the hetero geneous conglomeration of old bonds and other things in the old vault in the treasury office. Mixed among and rolled up with a lot of absolutely worthless bonds which were issued in the dark days of reconstruction, they found $49,400 in bonds refundable at 15 cents in the dollar in new North Carolina 4 per cent, bonds. As the new 4 per cent bonds are now at premium of 5 per cent., the bonds found are worth $7,780.50. The bond record has been checked up and does not show that the bonds found have ever been refunded. So North Carolina is nearly $8,000 richer than she was under Democratic rule, and there is no tell ing how mauy moro thousands. , In the report of the Secretary of the Treasury October 1, 1894, we find that there was outstanding $1,154 912,734 of paper money and that there was $123, 665,756 in gold coin and bullion in the treasury to redeem it with 9 cents in gold to redeem 100 cents in paper. Mobile Unionist. CONGRESSIONAL DOINGS AND MISDOINGS. The House recently put in three days discussing resolutions censuring ex Secretary of State, Thos. F. Bayard, now Ambassador to England. The resolutions passed. After all, it looks like Congress will not complete the recognition of Cuba. We suppose Mr. Rothschild has inter fered. Congress seems quite friendly to the A. P. A. (American Protective Associa tion.) That concern has votes, you know. What do you think of this? The country going to the devil, business houses crashing, and Congress has put in two straight weeks discussing Cuba. If anj thing can be more Jackassical, Shermanassical or Groverassical, trot it out. Senator Hill's bill to remove the re strictions against the appointment, as officers of the army or navy, of persons who held commissions in the regular army or navy befora the rebellion and who subsequently took part in the war on the side of the Confederacy, wfcich passed the Senate during the height of the excitement over the Venezuela boundary question, passed the House last Tuesday. Only one man voted against it, Mr. Boutele, of Maine. Of course this is a very good thing, but it doesn't settle the financial question. Senator Piatt has introduced a reso lution to the effect that Congress ad journ on the 2nd of May. Make it April 2nd, Mr. Piatt, and the whole country will pass it by a rising vote. The naval appropriation bill carry ing some $35,000,000 for additional war ships, has passed the House. That means a large amount of sound money for a lot of pleasure warships, filled with naval dudes who can't fight a school of catfish. The Sundry Civil bill was the center of attraction Friday and Saturday in Washington. It appropriates money for everything, drinks, fishing and duck hunting. We move that it be amended so as to include a million copies of "Sweet Marie" for the use of the Spanish troops. If they can't fight, probably they can sing. GO SOUTH, YOUNG MAN. That is what Chauncey Depew says after a trip to this land of unlimited resources. ' 'The net result of this visit to the South, to my mind, is just this that the South is the Bonanza of the future. We have developed all the great and sudden opportunities for wealth or most of them in the North western States and on the Pacific t Slnno hnt. thorn is a vast f.ountrv with KJ-yS ti w " v v - mJ ine D8Bu climate iu tuo www, wivu. uuu ditions of health which are absolutely unparalleled with vast forests un touched, with enormous veins of coal and iron which have yet not known anything beyond their original con ditions, with soil that, under proper cultivation, for little capital can sup port a tremendous population; with conditions in the atmosphere for com fortable living winter and summer, which exist nowhere else in the coun try ; and that it is to be the attraction for the young who go out from the farms to settlement and not by immi gration from abroad, for I do not think they will go that way, but by the in ternal immigration from our own coun try it is to become in time as prosper ous as any other section of the country, and as prosperous by purely American development. THEY SHOUTED FOR SOUND MONEY. Martin L Sweet, banker, manufact urer and farmer, Grand Rapids, Mich., has gone up by the single standard route. Liabilities about $179,000 (sound). The assets are much larger, but can't be sold for cash just now, therefore they are unsound. The Sherman county, Kan., bank has gone unsuund. It owes $35,000, (sound; It was for a single standard. The Bloomfield, Neb., State bank has kicked the bucket.. It wanted sound money and got it in such small quan tities that it couldn't continue busi ness. Hill Brothers, Montgomery, Ala., have failed because thoso who owe them cannot pay their debts in sound dollars. Patrick W. Snowhook, real estate, Chicago, 111., has assigned. He claims assets worth $350,000. Debts amount to $200,000 (sound). Caudle & Roan, furniture dealers. Richmond, Va., have assigned. Lia bilities $19,000, (sound). The money they owe is "gude in Yurrip." Dudley, Brown & Co., tobacco man ufacturers, Martinsville, Va., have as aigncd. Liabilities $37,000, (sound). J. F. Seiberling & Co., manufact urers of agricultural machinery, Akron, Ohio, have tailed. The liabili ties are placed at $250,000, (sound). Efforts are being made to get a re ceiver appointed for the saw mill and shingle business of Howe & Street, a Philadelphia firm. Some $40,000 (sound) are involved. William M. Shipp and C. W. Stone, cashier and book keeper, respectively, of the Woodford county, Ky., bank are short in their accounts to the tune of probably $40,000 (sound). L. & H. Bloom, Galveston, Tex , the largest wholesale dry goods house in the State, have failed owing $2,000, 000 (sound). William Bridges, a sound money county official at Rme, Ga., is strict ly in it, and is a shining specimen. He has been found guilty of forgery and is a defaulter. The amount of the short age is $5,475 15. He also issued some $10,000 worthless school certificats, and the purchasers are losers to that ex tent. Abraham White, of Boston, is a sound money man, but until J. G. Carlisle began to mortgage the United States, he was peniless. But White had nerve. He bid for $900,000 worth of bonds and sold them to a Boston bank, making $30,000 clear. Then he concluded he was a Wall street gold bug and since dropped $20,000 (sound) in that narrow, dirty den of iniquity. "Come easy go easy" will apply here. GOLDBUG INCONSISTENCIES. It is hardly necessary to be con tinually showing up the frauds the goldbugs are practicing upon the country, but as there may be some gullible people left in the world yet, we give them a touch now and then. The goldbugs pretend that they will not invest money in a silver country, and that silver is not money. In the face of this the Rothschilds recently drew $50,000,000 out of the United States Treasury, exchanged it for Mex ican silver, and bought property in Mexico. Can there be anything more inconsistent? We have in mind a locality where a certain piece of property was taxed $44 77. The people, tired of such high ta es, flopped over and put the other party in power. The very same prop erty was then taxed $72 45. This is no joke, for we have, the receipts. The old parties are both alike, except that each may be a little worse than the other. Progressive Farmer, Mt. Ver non, 111. Oftlie Oondition of tlie banks inlSTortli Cnro lina, at the Close of Business on tlio v2sta day of February, 1895. Compiled from official Reports for The Progressive Farmer by J. W. DENMARK, Chief Clerk North Carolina State Treasury Department. RESOUECES. 27 National Banks. Loans and discount?. . . Overdrafts United States bonds . . . 6 500 774.61 9o8 500.00 Premium on U. S. bonds, etc State bond? Ftocks, securities, etc Banking house, furniture, etc. 64 031.31 314,642.70 310 084 53 Other real estate and mortgages 119 008 00 Due from State Banks and bank'rs Due from National Banks, not res Agents Due from approved res. agents .... Checks and other cash items Bills of other National Banks Fractional paper currency, nici els and certs Gold coin Gold Treauy certificates Silver dollars Silver Treasury certificates Silver fractional coin. ..... Legal tender notes 5 per cent, redemption fund with Treasurer Due from U. S. Treasury Current expenses ... . . Currency, includ'g silver and gold, 194 152 52 356 450.97 5 S3, 326. 73 47.458.08 78 640 00 6 229 39 319,936 50 600.00 74 378-00 71 646.00 47 241 37 261,407.00 30.794.75 1 257.60 1 10,551.537.03 LIABILITIES. Capital stock paid in. . . . 2 686 000 00 740,711 19 306,268 58; 673 075 00 312.401.40 267,844 45 729.52 5,056,730 52 99 402.64 29,150 45! 244,a58.72: 130,352 50, surplus iuna Undivided profits National bank notes outstanding Due to otner National Banks Due to State banks and bankers. Dividends unpaid Individual deposits U. S. Deposits Dep site of IT. S. disbursing officers Notes and bills rediscounted Bills payable Cashiers' checks outstanding Certified checks Demand certificates of deposit Time certificates of deposit $ 10,551 537 03 CREAM OF THE PRESS. Hard Hits, Bold Sayings and Patriotic Paragraphs From Reform Papers. Ia the past the old parties sneered at Populists; at the present they fear them ; in the future they will thank them. Holton Sunflower. By th8 way, is this "the best finan cial system the world ever saw ?" If it is, the world has seen some almighty poor ones. Topeka Advocate. A band of Adventists in Missouri predicts that the world will end in June. Well, the shad season will be over by that time. Grange Advocate. The biggest of all trusts is the money trust and it is not only robbing the people but plundering Uncle Sam as well. Queer the fool people do not awaken. Chicago Broadside. Cleveland should not be an enemy of the greenbacks. They once served him a good turn. He gave up $160 of them to hire a substitute to go to the front. Pay Streak, Lead v ill e, Colo. The 16 to 1 folks "within the party" have been defined to mean that they cuss the Populists sixteen times to once where they know why they abuse them. Leader, Kaufman, Tex. Of course "the dollar will go farther" but who's got the dollar? The enemies of American liberty who rule Congress in the interest of the British money power. Journal, Lebanon, Kans. Hurry up ; get out your torch light, and spill oil all over your backs and split your throats yelling for McKin ley. It means high tariff .and a gold standard. Council Grove Courier. It is now getting to be the "gold crank" in the place of the silver crank. It is highly gratifying to see common sense making itself felt on the finan cial question. Herald, Liberty, Mo. When Sherman and his fellow con epirators demonetized silver they should also have devised some means by which the people could dispense with food and clothes. Silver Knight. The great strength of the reform movement is' due to the steadfastness to principle, inviting defeat rather than success that would mean nothing but a few official salaries. Missouri World. Money is the issue, the tariff ques tion is no loDger to be seriouely con sidered. Rothschilds must not be per mitted to dictate American finances any longer. Silver Imprint, Albany, Oreg. It Grover will swap some of his "popular loan" bonds for some of our 4 cent hops, $2 hay or $5 horses out here in Oregon, the farmers will take all he has got. Albany (Or ) Silver Imprint. The logical conclusion of all the gold bug talk is that it is wrong to make cheap dollars with which to pay debts, but it is perfectly right to compel the debtor to pay dear dollars where cheap dollars are contracted for. Arkansas Kicker. The circulation of all kinds of money in the United States decreased during the month of February 160,978.550, of which $53,969,095 was in gold. The to tal of all kinds of money in circulation on March 1st is placed at $1,528,742, 050, or $21 59 per capita. Grange Ad vocate. A couple of capitalists of Nashville, Tenn., without money enough to buy an army mule, bid for several hun 16 Private Banks. 6 Savings T ,r ,' Banks- ! S9 ,. '.. 4 476 116.14 8:30,823.67'$ 1 050 403.90 J 90,840 30 71,738.96! 1.09S.T8 i-V- 19,01)7.92 1 997 50 33,732 50 128,831.19 170,883.58 135 405.18 551 75 2 600.00 22 110 25 25,736 37 38,188.84 3:38,440.22 070.75 49 982.50 43,079.10 45,071.89 8 001,05 163 483.17. 858,053 98 ' 136,600 39 27,583.85, 6,751.41 20,031.29 457,180 23 10 203.37, 130 431.13 3,414.5s 55.301.44 8 6,528.740.25 $ 1,498,474.41 $ 1 .428,584.0c, $ 1.9S0.435 00 250 021 44 1 171.431.53. 1 I ) ... I )" ' 86.101 52 ' 5,9&5 55 3,293 721 21 i 294.000.00 39.302 55 $ 334 315.1 24 511 '.'7 19.977.0l' -', : n "7 J ;n;.n '';;K!'7 ' 1 . : i 1 C") i i :- 4"i Y 4:.;;:1.k ! 422 -I )"2 C4 IV. 4.-, " "..7:;.; , Id ::;, nj -'.r 32,307.35 53,511 85 70 717 761,071.13 21,317.2o 718,617 So 138 201 9r 110 600.011 28,422 70 2,198 93 50 159 24 411 401 20 16,394.00 65.694 00 17,847.69 ' 6U47.74 132,430 93 89 9i i 0"2 05 250.159 V;' 58 923 03 6,528,740 25 1,498,474 41$ 1,428 584.00. dred thousand of Carlisle's bonds were awarded the bonds and sold tho bargain on Wall street for a handsome profit. That ia a specimen of Carlisle's finan ciering. Southern Mercury. The great battle cry of the present campaign is down with Rothschild and the goldbugs. Monopoly is to be led in this fight by the banks, and the finan cial question is to be the central ques tion whether we like it or not. What banner, fellow-workers, are ycu to fight under? The tail of the British lion with Grover astraddle or the American flag upheld by the prcducera of the South and West. Decide now, and then go to work. Evening Jour nal, St. Louis, Mo. There has never yet been a time shown in history when a nation went to war and needed money that sold did not sneak out of the country, Jeavina the government to larie over the crisis by issuing a circulating medium consisting of its promise to pay ; and there never has been a time when war was over and the danger past that gold did not come swaggering back, de manding that all other kinds of cur rency should be taken out of circula tion, and that it alone should be sov ereign over the people. Daily Argon aut, Lexington, Ky. "SOME FINE HORSEMANSHIP. The Statesville Landmark comments on the meeting of the central Demo cratic committee thusly : "The news which comes of the meet ing of the Democratic central commit tee at Raleigh last week ia that it was governed by a spirit of conservatism and a desire to harmonize the differ ent elements of the party. Aa staK& elsewhere a majority of its members were found to be sound money men, but the financial question had less con sideration than the weightier mattery of fusing and bolting. With one, pos sibly two exceptions, no member of the committee entertained any idea of doing either, nor entertained any idea that the party will do either. Upon these points the free silver men, with the one or two exceptions noted, rang clear as the sound money men, and it is satisfying to learn that there was an absence of any spirit of proscription. The prevailing sentiment was that we must all abide in the ship and get in aa many others as possible instead of throwing any of the present crew or passengers overboard." Judging from the above there will bo plenty of fun this year. The "world's greatest bareback riders," who always accompany each circus, never claim any buch feats as the Land mark outlines. Just think of it ! With out paying a cent you will see big Dem ocrats riding two horses going in op posite directions, and it will not cost a cent. Tiie show is absolutely free. THANKS. 40 State Banks- The Progressive Faemer, of B" eigh, N. C, is one of the solid Alli papers that reaches our office regular ly. We greet it always as an old friend Pa Alliance Advocate. If the Rothschild syndicate conclu they can't make anything more by further depression of Spanish securi ties, they will doubtless instruct CIeve' land to act without further delay m favor of Cuban recognition. Chicago Sentinel.
The Progressive Farmer (Raleigh, N.C.)
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March 31, 1896, edition 1
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