FREE BOOKS

Author's List




PREV.   NEXT  
|<   69   70   71   72   73   74   75   76   77   78   79   80   81   82   83   84   85   86   87   88   89   90   91   92   93  
94   95   96   97   98   99   100   101   102   103   104   105   106   107   108   109   110   111   112   113   114   115   116   117   118   >>   >|  
rong in capital and skilful in combination and chicanery, has drained the agricultural regions, until agriculture,[4] toil, and poverty, are closely associated, while urban wealth displays its ostentatious ease, and farmers are driven by the million into a desperate political struggle for self-protection. [4] It is necessary to illustrate this by a few decisive facts which have not been made familiar to the majority of readers, as farmers' interests have received very little consideration in the East. The financial policy of the general government ever controlled by capital against labor, has been the most gigantic imposition by financial jugglery that history has recorded, and has been effected chiefly by manipulation and contraction of the currency to make debts more oppressive, and during the war by depreciating the people's money. After the war when $500,000,000 were needed to compensate the destruction of confederate money, a criminal contraction of $500,000,000 dealt a crushing blow to the South, and to the whole country. Let us look at it from the standpoint of the largest body of laborers, the farmers. A very intelligent Illinois farmer, Bert Stewart, presents the case as follows, and if his data are all correct, he has demonstrated a wholesale robbery: The national debt at the end of the war was about $2,800,000,000. What would it then have cost the farmers to pay this debt? He estimates that it could have been paid by 996,000,000 bushels of wheat; or 1,380,000,000 bushels of corn; or 10,000,000 bales of cotton. But financial legislation has increased the value of money (magnifying the debt), and decreased the value of the products of labor, so that practically, the debt has been increasing faster than it has been paid; and, after paying nearly $2,000,000,000 of the principal, and over $2,000,000,000 of interest, it will cost more to pay the remaining third of the debt than to have paid the whole at first. It would require to-day, instead of 1,380,000,000, over 4,000,000,000 bushels of corn to pay the remaining third. This being the case, it would seem that the payme
PREV.   NEXT  
|<   69   70   71   72   73   74   75   76   77   78   79   80   81   82   83   84   85   86   87   88   89   90   91   92   93  
94   95   96   97   98   99   100   101   102   103   104   105   106   107   108   109   110   111   112   113   114   115   116   117   118   >>   >|  



Top keywords:
farmers
 

bushels

 

financial

 
remaining
 

contraction

 
capital
 

correct

 

wholesale

 

demonstrated

 

largest


robbery

 
intelligent
 

farmer

 

Stewart

 

laborers

 

Illinois

 

presents

 

standpoint

 

require

 
legislation

increased

 

magnifying

 
cotton
 

interest

 

decreased

 

products

 

increasing

 
faster
 

practically

 
principal

paying

 

estimates

 

national

 

protection

 
struggle
 

political

 

million

 
desperate
 

illustrate

 

familiar


majority

 
decisive
 

driven

 

agricultural

 

regions

 

agriculture

 

drained

 

chicanery

 

skilful

 

combination