People's Pilot, Volume 2, Number 53, Rensselaer, Jasper County, 23 June 1893 — Our Plea. [ARTICLE]

Our Plea.

It is an oft told story (the condition of the country), but for the benefit and information of our Democratic and Republican friends, we twill once more state it. Nine millions of mortgages, near fifteen billions of foreign debts, about four billions of dollars of mortgages incumbering our farmers, six hundred andforty millions on the farms of Indiana, wheat selling lower th sin for thirty years, strikes, lockouts, riots and bloodshed, money invested in banks, railroads, telegraphs, telephones and street railways earning from two to fifty times as much as labor receives, bankruptcies and suicides all around us, and a financial panic sweep-

ing over the land. Such is the condition of the country to-day. What remedies do the old parties offer? The Republicans offer what they have tried for thirty two years, the British system of finance, a high protective tariff, and the surrender of public functions to uncontrolled corporations. Our Democratic friends would change the above remedies by reducing tariff duties only. That is the only difference between the old parties. We have stated all this time and again, and we know our Democratic and Republican friends are not edified by its repetition, but we want them to see the inadequacy of their measures, and how they suffer by comparison with the remedies proposed by the People’s Party. Wliat is our plea, what would we do to meet the present demands of society? The people are overworked and underpaid, and what we would do, and will do, when in power, will be to so frame the' laws that labor shall receive a liberal share of the wealth increase of the nation. To do this is the problem of the hour, and a great problem it is, but we believe it can be solved. To secure to the laborer his just reward, and make him feel that his government is a just one, and that through a wise administration of affairs, he will be able to pay his debts, it is necessary to raise prices, or remove burdens so that the same end will be reached. Let us explain: There is no law of economic science more universally conceded than that there exists an intimate relation between the volume of currency and prices. Increase the volume of money and prices will rise. Decrease the money supply and prices fall. John Stuart Mills, the great political economist, said, “double the volume of money and you double prices, destroy one half the money and you reduce prices one half.” Pick up any of our large dailies and look at the market reports for the past month and you will be likely to see something like this in almost every one of them, “owing to the stringency in the money market, pll agricultural products are quoted lower.” Plutocratic journals rejoice over the fall of prices resulting from the panic, because it brought in European buyers and their gold. Then one way to secure better prices for the farmer is to increase the money supply. If the farmer could sell corn at forty-five cents per bushel, on the average, oats at thirty-five, and hogs at five dollars a hundred he could better endure present extortionate railway charges and bank interest rates. Any attempt, however, to increase the money supply is immediately opposed by the fundholding, loaning, and salary drawing classes. Every addition to the money volume lessons the purchasing power of their dollars, hence their opposition. Another means to reach the same end would be for the government to take possession of the railways, telegraphic and telephone lines, and give the people service at cost. The freight charges to seaboard on corn, oats, rye, wheat and barley is seldom less than twen-ty-five cents on one hundred pounds, while it never ought to be more than ten cents. Every cent charged above ten for such freight is clean steal. And all charges in excess of two cents a mile for carrying passengers is another steal. Money loaned averages ten per cent., money invested in railways earns twelve per cent on actual investment, (we are not talking about watered stock) while the farmer earns less than two. The law makes this difference in favor of the capitalist and against the producer. Neither one of the old parties propose to touch the above measures to bring relief to the farmer, while

the People’s party stands committed to both. The farmer is of equal importance in the social fabric with the capitalist, is also a fellow clttxen, and reasoa, justice, fair play, and right between man and man, demand that his business be given an equal chance with every other business that is alike honorable and necessary. (To l» continued.)