Newspapers / The Progressive Farmer (Raleigh, … / June 16, 1896, edition 1 / Page 6
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THE PROGRESSIVE FARMER : JUNE 16, 1896. n : 3 i II n i I ZSSE B1LKINS. U. A. The Major Says There is no War, But it is Thought That the Absence of His Name From the List of Braves Has Much to Do With His Views. B. "Hello! Mr. Editor. R "Hello 1 Major. I'm at your eer vice." B. "I wanter know erbout that bat fpllin' prbout last week. It orter be ergia the law ter write eich things. You know they ain't any war goin' on betwixt the silver dymakrats an' the gold dymakrats. We dyrna krats are true bluea wherever you find us, an1 we don'c divide up an' go ter war an' kill each other. If some c v us beleeve the country will bust wide open if we don't git free coinage an' other things an' eum others beleeve it will bust all ter pieces if we don't have gold and less money it iz awl rite, wo jist compermizo the whole business an' agree that nothin' will eave her but dymakrat unity. Awl this country needs iz fer the dymakrats ter git full control ergin. That will restore con ferdence an' she will blossom like rose bushes in May." R "Why, how is this? Only a few weeks ago you came out for free coin age and everything eke; said you were going to stand up for the people through thick and thin. Now you are getting wabbly again." B. "Well, you kfiow they wasn't any battle betwixt free coinage dyma krats an' gold dymakrats. If they had bin one I would a been in it on one side or the other. I didn't git any infer maehun erbout it, an' I know they wasn't one fer that reason. We are too smart ter begin ter exterminate ourselves with masheets or whatever that machine wuz whut you sed we used in battle. We are awl coin' ter stand tergether an' elect some big man fer President an' give this country the finest administrashun she ever had." R "Yes, you did that in 1892 It will take 20 years to recover from the damage your party has done. We don't need any more of it. If your crowd should get in again it will begin to restore silver by destroying the value of what little there is in circula tionyet. We don't want any more of it." B. "Of course not. You Pops are the biggest fools I ever saw anyhow. You argue that the way ter make money plentiful iz ter make more of it. Any fool orter know that the way ter make it plentiful iz ter quit makin' it. Gudebye." We feel sure that most of our sub ecribers can pay up if they will make a Btrong effort, and must insist that there be no further delay. Our ex Denses are great and we must have what ie due in order to pay expenses LETTER FROM JOHNSON COUNTY. Correspondence of the Progressive Farmer. I have taken but very littlo interest in the controversy that has been going on between some of our Populiat friends in regard to co operating with the Republicans on the State ticket. I have just read Mr. G. Ed. Kestler's let ter and I must say that I agree with him exactly. Permit me to say to the Populiats tHo favor filling the vacan cies left open on the State ticket, that wo will meet in Raleigh in July or August to take independent action and fill those places with Populists. The Republicans are with us on State i3sues, they favor a free election and a fair count, they favor foetering our agricultural, manufacturing and min ing interests and a thorough public school system. Then pray tell me in the name of common sense where do we sacrifice principle. I believe hon estly that Judge Ruesell will be the next Governor of North Carolina. I do not believe the Democrats can elect a straight ticket neither do I believe the Republicans can. Some charge that if Judge Russel is el cted Gov ernor that he will fill all the offices (where he has the power) with Repub licans. I have no idea that Judge R-js eel would resort to such mmsurea. I eay let us fill the vacancies left on the State ticket at all hazzards, unless the Democrats will give us a better show ing. The Populists, beyond a doubt, hold the balance of power in the State. E D. Snkad. Four Oaks, N. C. i! f ! k GOOD AND BAD MONEY. Correspondence of the Progressive Fanner. Good money and bad money cannot live together in the same country at the same time. The bad money which ia a full legal tender, drives the good money out of circulation by the force of law." El ward Atkinson. Mr. Atkinson defines good money as gold and and all currency redeemable in gold. Fall legal tender money never drove gold out of circulation. The history of economics does not furnish a single instance to confirm this assertion. Gold is inert and has no power within itself. It canuot go out of circulation unless its holders t&ke it out, and it is retired fer selfish and speculative purposes. During the twenty-three- years of war England had with France and Sp in, the creditor class retired gold and silver, made a commodity of them and placed a premium on them, which they were able to do because of tho corner they had on these metals. Tney depreciated the full legal tender money until at the close of the war it was worth 23 cents in the dollar. They got control of this depreciated paper money, refunded it into gold bearing bonds and made sixty two cents on every dollar. In doing this they robbed five out of six of their lands and rained every industry. During the civil war they locked up gold and silver, made a commodity of them, forced a premium on them, which they were able to do by the in sertion of the clause making the inter est payable in coin, creating a demand for their coin, and at the close of the war on Daoer monev was worth 38 cents in the dollar. This issue was re funded into coin bonds and tho holders cf coin doubled their value. Mr. Atkinsoa save : "There must ba a final ultimate standard of, or with coin by which all other forms of money must be rated. Money is created to exchange values and it has no ether function. There are three factors entering into production: Price, the raw material, labor and money. Labor converts the raw material into finished products to supply the wants of man, and money exchanges this. Under the present economical system everything produced must be ex changed with money. We cannot exchange all we produce unless each class can command suffi cunt dollars to command their share of the output of wealth ac3ording to mrit. If each class cannot command sumiient dollars to exchange all we produce, there is a surplus left on hand to depreciate prices. It is competition on the free trade market of the world for gold out of which to coin redemp tion money that depreciate prices The corner the creditors have on gold enables them to forcQ a ruinous com petition for this m;tal. All exchanges mu&t be made in equity by giving a dollar's worth for a dollar. lne standard by wnica all wages acd prices would be adjusted must be that of fixed incomes. The same taken in private pursuit must receive the same remuneration as in public pur suit. We can never accomplish this and compete on the free trade market of the world with capital unemploying and with labor-saving machinery, which works at the same calling for one rourtn to one tweittn tne price paid the same class in this country. This increased competition is forc'ng prices down with a rapidity that is appalling. This increased competition is forcing more and more of the pro ducts of labor into fixed iucomes, com pelhng us to give more of our stable farm produce to get the dollars to pay interest on our foreign debts. This leaves less to be applied for manufac tured pre ducts and the net proceeds o invested capital and labor declines We can see the effects of this sharp com petit ion on every har d in close mills, idle hands, broken merchants and railroads going into the hands of receivers. Mr. Atkinson says our workmen will be robbed by being forcrd to take bad money. When we hsd full legal tender money in 1865-6, prices of stable farm produce was good and the factories run on full time and mercantile failures was the smallest in the history of cur country. Competition with capital employing cheaper for gold in twenty years shrunk values one half in 1890, or factories run on an average of 135 days in the year and capital and labor lost the increments on 165 days. Qhe reduction of the not proceeds of labor in 1S94 in Bsdford, Maine, was a littlo over 41 per cent, and for this year the factories did not run over 100 days and invested capital and labor were robbed of their increments cn 200 days. Or ganized labor will take care of itself when prices advance. During the 23 years of English wars Allen informs us that the English industries were very prosperous, but when they passed a law to go to a gold basis five out of every six lost their lands, and poverty and distress Drevailed in everv indnsi- try. Such was the effects of a change from bad money (legal tender) to good money (gold). In the same ratio that competition of our farmers on the free trade market of the worid forces the price of our stable farm produce down tho net pro ceeds of eachcla8s decreases. Atkinson says that gold is the world's standard, and every attempt to drive us from that standard is a failure. The world's standard in Europe measures abor that i paid one-half to one third the sam9 class in this country, and the eamo standard measures teu umcs as much labor in the harvest-field in the Argentine Republic as piid in this country, and competition witn capital emnlovine this cheaper labor armed with labor saving machinery is fcrcicg prices down und rqueezmg more into the gold dollar on which the creditor class have a corner. It is a law of trado as immutable as the ten commandments, which is that capital, employ ing cheaper labor armed with improved labor saving machinery will force the true civilization to the evel of the lower, and from this result there is no escape. Mr. Atkinson says: "The only true definition of sound money is that which when melted down will nave tne same value as when a full legal tender." One of those dollars will command 25 days cf female wages in the factory in Japan, and Mr. Atkinson would maintain a policy that would force our labor in direct competition with this class of labor, with their primitive mode3 of living, and this will rorco tne samo cla&s of labor in this country to their level. Japan capitalists are laying down carpets in New York at 5i cents per yard, and the result is our carpet factories aro closed and tens of thou eands of men and women are idle and starving. Mr. Atkir son says: 4 'The object of the advocate of unlimited coinage of silver is to force these bad dollars on others and establish a privileged class. It is against a privileged class wo protest. An indebtedness of one hundred and fifty million dollars, payable in gold as the standard gives the holders of gold a huge corner on this metal and forcing every civilized country to compete for it, they increase its value by depreciat ing the value of the products of labor. This competition since 1870 has forced three bushels of wheat ana three bales of cotton into the price of one. This power given the creditor class by legislation is the most despotic and dangerous centralization ever placed in tho hands of a class, and Mr. Atkin son would perpetrate th s power. Mr. At kinson's charge of conspiracy of the owners of silver mines is gratuitous, and like a boomerrang, returns with the same roree demolisning nis nonest money standard. Give us facts, Mr. Atkinson, andleav epithets to those who have run out of arguments. Those who have the truth can give it without dealing in epithets. Nations pay their debts in their stable products. Their ability to pay depends upon the price received and the net proceeds after paying taxes and ex penses. Competion on tho free tra Ie market of the world forces prices down, reduces the net proceeds of each class forces more of the products of labor into fixed incomes, leaving lesa to be applied for the necessaries of life, re ducing consumption and production, closing mills, throwing labor out of employment, bankrupting merchants, forcing railroads into the hands of re ceivers and distressing every class, and that too, while we are multiplying our ability p?r capita to produce the neces saries and luxuries of life. Mr. Atkineon says the moment that fraud of cheap fifty cent dollars is ex posed it will be repudiated. When tho fraud precipitated upon uhe people compelling them to give toree bushels or wneat and three bales of cjtton for the price of one in 1S70 to pav fixed incomes that should be paid with one iL: l P i - . tnira ot wis amount, preventing tbem from getting fculh.ient dollars to dia tribute all we have the facilities to pro duce, reducing consumption and pro duction and the net proceeds of every class and bringing upon the country untold misery amidst our increasing facilities to supply the necessaries and luxuries of life ; they will rise in their might and bury tbi privileged class so deep that Gabriel's trumpet will , not rtsurrect them. Dbts muat be paid with wheat at one dollar and fi'ty cents a bmhel aud cotton at 16 cents a pound aad all the products of labor in the same ratio. These are fair pnc-S as compared "to fixed incomes. We must produce all we can and establish a sy&tem by which it can be distributed until tho wants of all are supplied. Under the new indus trial system everything is running into specialties, and every dollar's worth must be distributed by a dollar. Un less the classes can command sufficient dollars to distribute all we produce, there is a surplus that reduces the value and knocks the bottom out of prices. We may increase our facilities to pro duce the necessaries and luxuripn nf life, but we cannot get them unless we can command the dollars, and we can not command the dollars and compete on the fre9 trade market of the world with capital employing cheaper labor armed and equipped with labor saving machinery that works at the same call ing for one fourth to one-twelfth paid the same class of labor in this country. We must establish an economical sys tem by which each class will be the masters of their labor and products. Until we establish such a system, values will decline until we reach the level of our Asiatic competitors. Mr. Atkinson is an educated statisti- i r - - r a a. I 1 S 4. V c.an. lie is in uoston, tne nuu ul ma U S. He is studying the musty rec ords of a dead past that has no relation to the living present. If he would study business as now conducted, he would learn that the building of railroads into the interior of countries with cheap labor and arming them with American machinery brings us in direct compe tition with now competative force that is rapidly forcing prices down and gqueezmg more each year into his good dollar and preventing the industrial class from getting these good dollars so we can distribute all we have the facilities to produce. Compete, and capital in S2lf defence, will be forced to go to other countries having cheaper labor, and invest. English, German and French capital a. - r l . a 1 is going to iiexico, coutn America, Japan, China and India, where it can get cheaper labor and escape this sharp and increasing competition forced upon them in all countries employing dear labor. The rapid shrinkage of values resulting from the arriving of a horde of cheaper labor with labor saving machinery will force values down, wipe out all margins of profits and force a reduction of wages and precipitate strikes on a scale during the remainder of this century, such as has never been witnessed before. By the close of this century there will not be a dollar invested in the United States, for capital will not in vest on a falling market. All of our railroads will pass into the hands of re ceivers, our mercnants win oecome brankrupt, our factories will be closed and universal distress will prevail. From this there is no escape except we e8taDH8n a system tnat win btop competition at home and abroad for the almighty dollar growing in value. Ech class must be able to price their labor and fix their increments so they will correspond with fixed incomes, and this cannot be done and compete. Gold is our standard, uompetition iorces prices down and increases its measur ing power, fiace yourselves wnere you can price your labor and fix your in crements, and value will advance and the gold standard will be less. Be men ; co operate politically and establish a system where you will be the masters and any standard will measure them uniformly. James Murdock NEED DRILLING. Tho Wake county Democratic con vention met at Metropolitan tlall oat urday at 12 o'clock. Col. Middleton Leach, commanding the 4.h regiment of free coinage braves, was elected per manent chairman. He made an up-to-date free coinage epeecia and gave Bros. Cleveland and Carlisle seme smart whacks. The delegates seemed to nesd drilling, for they have been goldbugs eo long they couldn't recog nize the good points in the speech, and sometimes applauded (weakly) at the -vrong time cut tew delegates or visitors outside of Raleigh were present, and no enthueiaem was manifested. KEEP IN THE MIDDLE ROAD. OF THE Correspondence of the Progressive Farmer. liRYsoN City, N. C. Ti.--j.fi. r .a ,! i i nope a siraignc ugat win be maa and no compromise of principles. Thc- Kepublican party will be for the single R0ld standard and banks of ietue. The I" Democratic party will be for State banKP, cr oanrcs ot is-uo. Ail money must be issued by the government and furnished bu.-irtees men at cost, and banks of issue Fuppressed, as advocated by Thomas Jtffereon in 1813 We must stop this competition lor gold out of which to coin redemption money. This can be done by the government irsuiog all money, gold, silver and paper, and make it full legal tender for all debts. The fight on is between cor portions who contiol the pocket-book of the nation and the industrial class 8 long as a ciass controls tne issuing of the medium of exchange the people will be powerless to price anything. If a f?qure fight is made the people will respond. There can be no conupromise between those who advocate banks of issue and those who advocate the gov ernment performing its constitute n& duty of iseuing all money. The credit and bonding system growing out of banks of issue cost this nation annually four billion dollars more than the cash system which can be secured by the government issuing all money. Let al parties go, but let us stand flrmlv bv the people's interest. Let us appeal to the people and trust in God for the re sult. James Murdock. BANKERS RESOLUTING. The West Virginia Bankers' Asso ciation met at Fairmont June 2 ad and 3rd and passed the following : "Resolved, That the Bankers' Con vention of West Va. declares unequivo cally in favor of the existing gold standard of value, or as may be here after determined by international agreement, and believe it to be the only way to maintain tho public credit of our country and the honor and integ rity of our government. "2. That it is of the greatest import ance to every business man and pro ducer and wage earner to do his utmost to maintain the credit of the govern ment and to use his best endeavors to enlighten the masses and stop the agi tation in favor of the free coinage of silver, which has interfered so serious ly with business and has stood and stands in the way of the revival cf con fidence and national business prosper ity." Col. Thos. O'Brien, President of the People's Bmk, of Wheeling, stooi alone opposed to these resolutions. The Missouri B inkers' Association met 125 strong at Pertle Springs, Mo , May 25tb, and the principal thing done was the adoption of the following: "Resolved, That the Missouri Bank ers' AfSDciation place itself on record a3 being irrevocally opposed to any de basement of the currency, and ea pbatically declares in favor of, and urges the maiatainanca of the gold standard of value. 'That we are in favor of the imme diate redemption of greenbacks and the Sherman certificiates and of the government coining silver purchased under the Sherman Act, and retiring from the banking business." The Iowa Bankers' Association a few days ago adopted the following: "We declare that we are in favor of gold as the only standard of value, and take a definite and unmistakable stand against free coinage of silver," 'We believe that the legal tender paper now outstanding snouid be re deemed and retired, and that the gov ernment should go out of the banking business." The Georgia Bankers' Association : "The most important and indispen- siblo factor in any government's suc cess and prosperity is a sound and safe currency. "Tne financial history of the world proves there must be behind all forms of currency a reliable, stable and fixed redemption of money. "We favor the use of both gold and silver 38 redemption money, to the ex tent that the parity of the dollar of bosh metals can be maintained at i q ial and interchangeable value. "We believe it would be impossible and suicidal for this government alone to favor and undertake the unlimited coinage of silver at a ratio of 16 to 1." Texas Bankers' Association, at Dallas, Texas, May, 19: "Resolved, That tho Bankers' Asso ciation, of Texas, believes m nonest money and sound currency of sufficient volume to meet the increasing demands of pc p llation and commerce. Believing that both gold and silver concur togetner in rormmg tne mone tary circulation of the world, aad that it i3 the general mass of the two metals combined, which serves as the measure of the value of things, we are, there fore, in favor of the use of both gold ani silver as the standard money cf our country, and believe that Congress should at once enact a law authorizing t-he coinage of both metals at our mints on equal and like terms at such a ratio as will maintain tho paiity and give to every dollar coiued equal purchasing ard debt paying power " PRIZES WON TTTE PAST TWO YEARS. ssex and Red Tersev Pijtr. Host St 00 U5lts and lilies, fine as split silk. You Get Pedigreed Stock if You Buy of Us EVERYTHING GUARANTEED AS REPRESENTED. Addres OCCONEECHEE FARM, DURHAM, N. C. Pfeimiiea Supplied oa Year-Boaad Contracts with Occoneecnce GUt-EdSt Uui: NO JOB LOTS W 00 Lounges and Couches a your thrm0n7yekonlyLouiige3fM$2.351 Couches covered in Cordary Juza It s no trouble for us to show goods, so whether you buy furniture or not. FREE! 64 Page Medi cal Reference Book, giving val- uable information to any man cr man f filleted with any form of pri-f,t cr special disease. Addreas the lead ing Physicians and Specialists Cf this Country. Dr. Hathaway & Co , 70 Dearborn street, Chicago, CURE3 GUARANTEED, BREAD I CAKES I CRACKERS! I invite the trado of country mer chants and others who want the best quality at reasonable prices. Lng ex perience and first ciass steam appliances enables me to effar you frowh and r-lia biegocd, Qharies Bretscb, Proprietor of the French Bakkhv, Nj. 103 Fayetteville Street, R1L1IGH, N. C. THE BEST STATE ALMANAC-1S95 As a State Almanac for correct as tronomical time, for official, agricul tural, historical and statistical infor mation, for domestic use in the family and a book of reference for tho most important events and deaths of per sons that happened in the State the past year, Turner's N. C. Almanac haa no rival. There is no other almanac so necessary or valuable to the people of the State. Price per copy, 10 cts ; per dozen, 60 cts. ; sent post paid. Address Jas. H. Ennis, Publisher, Raleigh, N. C. POMONA HILL NURSERIES, POMONA, N. C. Two miles west of Greensboro, N. C, on the Southern HaUway. Well known for ti irty years Up vith the times wit, all the new as well as the old fruits that are suited to mv trade, which extends from Maine to Texas. The new Jaan tiuits and all other good fruit and 'low ers I have, as shown in my new lllu-trattd catalogue, free to all. Agents wanted. aM$) J. VAN BINDLEY, rrop r. THE PRICE LIST OF THE BUSINESS AGENCY found only in Tlie Alliance "Weekly. .Friee iuc. per year, uiuds 01 lu or more. 35 5. eafh. Address T. Ivey, S. B A , Hillsboro, N. C. 2- W ANTED. An expert tobacco man ager and curer. Address at once with terms and references. , J. Bryan Grdifs, (1951) Grimesland, ft. C. WANTED Five hundred new sub scribers to enter our list during the month of May. The Progressive Farmer, Raleigh, N. C. F?ss: Teachers' Band-Sock Containing valuable information, will be sent to any teacher or friend of edu cation upon receipt of a stamp. Ciias J. Parker, Mgr. Teachers' Aid Association, (18C3) Raleigh, N. C. RALEIGH TOBACCO MARKET. Reported by J. S. Meadows. Smokers, common 3 to 5 ets, good 5 " 8 fine 10 " 15 " Cutters... common 10 " 1" " good 18 " 2(1 " fine 20 " 23 " Fillers ...common green 2 " 3 " good 4 " f. " fine 6 " 10 " Wrappers, common 10 " 18 " good 20 " 30 " fine 35 " 30 " Market strnne' with eood VmTd forall ea'f. Headquarters forihe Best, Only, BREEDERS OF PRIZE WINNERS OF THE FOLLOWING VARIETIES: Mammoth Bronze and White Holland Turkcvs Barrel and White Plymouth Rocks, Brown and White Leghorns Light Brahmas, Indian and Pit Games, Buff Cochin Silver-Laced Wyandottes, White Guineas, ixkin Dacl.s. Muscovy Ducks. Pea Fowls and Tan-tail Pigeons. Fowls and Eggs For Sate at All limes. fl I Cn Shropshire and Dorsett Sheep out of Import: Hi.OU Ewes bv Imnortcvl TJnrt-c TWf r,l i; r' ? pace! own price. You can buy from us tfcjs 2.70, 4.35, 4.50, 4 85, wortb doun Wilton ru for (ff (1(1 fi 7fl 311(1 8 00 call and look, 3)3. UU, 0 U QliU the
The Progressive Farmer (Raleigh, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
June 16, 1896, edition 1
6
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