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EATING THE HEART.
I
WANT OF SUFFICIENT CURRENCY DE
STROYING SOUTHERN FARMERS.
Ttir Hrlplro and IMtlfnl Condition
of Cotton Grower* “Condence"
Proved n HroKen Stick—Hammond
anil Ihe Reform Clul*.
Our readers have no doubt beard of
tho Reform club, which has its head
quarters on William street, next door
to Wall, and maiiy of them doubtless
have seen the “sound currency” pam
phlets which it has been issuing since
the beginning of the campaign in 1896
The purpose of the Reform club in
establishing its department of pamphlets
was to defend the single gold standard
and oppose the restoration of bimetal
lism. and during the campaign of 1896
and afterward its publications were all
directed to proving that the supply of
currency was ample, that prosperity
existed everywhere in the country, and
that low prices of products were miti
gated or offset by the increased pnr
chasing power of the dollai The writ
ers employed by the Reform club were
instructed to deny every contention
made by the promoters and defenders of
bimetallism, and to this they devoted
themselves with great energy und in
dnstry They insisted that the national
bank system was the most perfect that
had ever been devised, that the cur
rency system would be perfect when
the gold standard was established: that
people who had nothing to sell could
not expect to have money; that no
matter how much currency the govern
ment might issue or how much silver
might be coined, those who were with
out money would continue to suffer for
tho lack of it, and that the talk of hard
times nnd currency famines was simply
part of the scheme of the “crazy silver
ites” to depreciate the currency und
•'rob labor of its just rewards. "
Nauseating as was this iteration and
reiteration, tho stream of it continued
to flow from the Reform clnb Those
Who read these publications were told
that nothing whatever was necessary to
the restoration of prosperity—if pros
perity was indeed lacking—but tho res
iteration of confidence. That was the
one thing necessary to do How was it
to be done? By debiting tho Demo
*srats, 'ey supporting the "sound won
ey” candidates. Do that, said the Re
form club, and confidence will be at
once restored. That is all that is neces
sity. We have had prosperity under
<vnj present system, and we will have it
ojjttin 9s Suoft as tha business interests
of the country are assured that a depre
ciated currency will not take the place’
“sound money” under the gold stand
trd
Wti thrash ovej this old Btruw merely
to call attention to tho fact that a
change seems to have come over the Re
form club in the matter of currency re
form One of its recent publications is
from tho pen of Mr. M R. Hamniond.
Who takes for his subject “The Southern
Farmer and Banking Reform. ” and
deals with it in a way that shows he is
entirely familiar with the unhappy con
dition of affairs that exists in the south
Though "banking reform” is a part of
the title of his subject, he deals with
currency reform, and it would have
given a clearer conception of his pur
pose if be had employed that term.
But the point to which we call at
tention is that the Reform club, through
the medium of Mr. Hammond, admits.
bo far as the south is concerned, every
contention of those who favor bimetal
ism as the means of increasing the
money supply Heretofore, when The
Constitution, as a part of its argument,
has been compelled to describe the ap
palling condition of the southern farm
ers, due to a lack of a medium of ex
change. it has been denounced by the
Reform club coterie as a croaker, a
prophet of evil, and the condition of the
unfortunate cotton growers ascribed to
thriftlessness or to idiotic methods in
the management of their business, and
then figures would be given showing
that there had been a steady increase in
the volume of money in circulation,
followed by the stereotyped declaration
that nothing was necessary but the res
toration of confidence. Our readers no
doubt have a very lively remembrance
of these things, for it has not been so
many months ago when the gold news
papers wore full of them
But the publication of Mr Ham
mond's nrticle by the Reform club
shows that there must be a lingering of
the gold worshipers. The article is in
the nature of a demand for a credit
currency in note form adapted to the
needs of agricultural communities.
Now. The Constitution, while in favor
of the restoration of bimetallism, has
for years advocated the repeal of the 10
per cent tax on state banks and the res
toration to the people of the right to
issue notes on their credit, this issue to
be guarded by judicious state legisla
tion Then, when the southern bankers
convention met in Atlanta and adopted
resolutions in favor of allowing banks
to issue notes on their assets. The Con
stitution favored that plan, but predict
ed that such a method would find no
favor in the eyes of eastern bankers,
who, not knowing the situation in the
agricultural regions, do not realize the
extreme need of such a measure of re
lief.
Currency notes, as Mr. Hammond
points out. are issued only by national
| hanlcs. and these banks are not adapted,
as the law now stands, to meet the
needs of the agricultural classes The
result is that only the dwellers in towns
and cities have the benefit of banking
facilities, while the farmers, who before
the war paid large profits into the hanks
of that day. are left ont in the cold
Mr Hammond very correctly translates
the demand for "more money’ (which
rises in the agricultural regions to vex
the ears of the city bankers) as a call
for the ordinary instruments of credit
It is this call for an ordinary supply of
the ordinary instruments of credit
which the financiers translate as a de
mand for a depreciated currency. These
| magnates would have had much more
repose than they have enjoyed during
the past quarter of a century if they
had translated the demand for “more
money" into what it really and truly
means.
Mr. Hammond puts his finger on the
sore spot in the south. After emancipa
tion had swept away the available cap
ital of the south and when local and in
terior buyers had taken the place of the
factors at the seaports on whom the an
tebellum planters had depended for
funds the small farmers who took the
place of the old planters “were compell
ed to resort to indirect means for ob
taining credit ” They had no commer
cial standing and could not borrow
cash, so they 7 were compelled to mort
gage their cotton crops for the food and
supplies necessary to run them until
the crops were gathered. This was the
beginning, and necessity has brought
about its continuance.
The farmers, owing to their own lack
of credit and to the lack of credit notes,
have been compelled to make cotton
their medium of exchange. A currency
system well enough in its way for
dwellers in cities but infamous in its
effects on the agricultural classes has
reduced them to the necessity of re
turning to the primitive methods of
barter —methods that are simply ruin
ous, but from which therO can be no es
cape, except in individual instances, un
til our currency system has been so
thoroughly reformed that all can share
its benefits From the very necessities
of the case people must have some me
dium of exchange. In old times it was
tobacco, indigo and the pelts of wild
animals; in the south today it is cot
ton, and that is why the crop continues
to increase in spite of the fact that each
increase carries disaster in its wake
All this has been going on for years,
and every demand of the farmers for
“more money"—for an etiual chance tn
the matter at chiTefiey--nfts been met
in the money centers by denunciation
and by loss of sleep on the part of the
gold worshipers.
The Constitution has described the
situation in the south as pitiful, and it
has been criticised for it by those who
are either willfully ignorant or selfishly
blind. Mr. Hammond, who seems to
know all the conditions, justifies every
statement The Constitution has ever
made He nys that the situation was
so serious nnd so disheartening the pres
ent season that the tenant farmers in
many 7 sections deserted their own crops
in the field in order to earn a little
money by picking cotton for others
Could anything more clearly show the
results of a scarcity of money 1
Mr Hanunond also agrees with The
Constitution in saying that the contin
uance of the all cotton system is not
due to the obstinacy of the growers
They would be glad to diversify their
crops if they could get out of “the
clutches of the present credit system. ’
Leases and crop liens do not contain
any contract for diversification They
call for so many dollars’ worth of cot
ton. and the lower the price falls the
more cotton does the unfortunate debtor
have to pay Mr. Hammond admits
that the 10 per cent tax on the circula
tion of state banks has practically
“sealed np the sources from which the
southern cotton growers could hope to
secure loans. ” and he adds that the de
mand for “more money which has come
from the south and west” in the last 20
years has been due to a real need and
has not been based so much on ignor
ance as some of our city financiers have
supposed
Asa remedy for this credit system,
which is slowly eating out the heart of
the south and destroying its most nec
essary income, Mr. Hammond urges that
a bank be authorized to issue notes
against its.general commercial assets to
the extent of 40 per cent of its capital
at once, and ultimately to the extent
of 80 per cent of its capital, and, sec
ond, the establishment of branch banks
The article of Mr. Hammond, inter
esting in itself, takes on new interest as
coming from so strange a source as the
Reform club. —Atlanta Constitution
Tlie Birth of Trust*.
When combinations of capital can so
control an industry* as to dictate the
cost to it of the raw material, arbitra
rily fix the price to the consumer, con
trol the output of both raw material
and finished product and make its own
terms for transportation and wages, the
next step is not unlikely to be an alli
ance between two or more such com
binations for mutual security., increased
power over producer and consumer and
larger margin of profit—Cleveland
Plain Dealer
DeWitt’s Witch hazel Salve
Cures Pile*. Scalds, Burns.
UNDER THE TRUSTS:
FROM THE CRADLE TO THE GRAVE
WE ARE RULED BY THEM.
When We Get I'p In the Morning nnd
When We Lie Dovrn nt Sight, the
Trnat Collects Toll From L’—Taxes
Wlmt We Gat. Drink and Wear.
On the question of trusts a brief con
sideration of the figure they cut in sup
plying the ordinary necessities is quite
astonishing The average citizen is aid
ing a trust when he raises a spoon to
his mouth at the breakfast table He
puts on trust underwear and hosiery
when he gets np in the morning, for
tho American Knit Goods company is a
$30,000,000 corporation that practically
controls the trade His shoes are made
expensive because the $125,000,000
United States Leather company con
trols the leather market. He puts SIOO,-
000,000 trust coal into his furnace and
strikes an $11,000,000 trust match to
light the gas furnished by the gas
trusts.
If he eats a cracker he pays tribute
to the National Biscuit company, whose
capitalization amounts to $55,000,000
The price of his sugar is controlled by
the Sugar trust, and if he prefers beet
sugar, tin* American Beet Sugar Refill
ing company, just organized and capi
talized at $20,000,000, controls its
price If be prefers glucose or corn
sugar he has to pay the price set by a
$40.000.000 trust If he enjoys a sirloin
steak he has to pay tribute to the dress
ed beef combination capitalized at
$50,000,000 The wall paper he looks at
comes from the Nutional Wall Paper
company, a $30,000,000 trust The rock
salt pool controls the price of the salt he
puts on his potatoes. This pool is capi
talized at $5,000,000 His morning pa
per is made more expensive because of
a $55,000,000 trust in print paper.
He cannot eat a broiled whitefish
without helping to pay the dividends
on $10,000,000 worth of stock of the
American Fisheries company He can
drink coffee whose value is fixed by two
combines, and in some cities the milk
he pours into it is handled by a trust,
and if he takes an "eye opener" in the
morning the price of the whisky is de
termined by two trusts, while his beer
at noon is probgbly manufactured by
a beer trust The filters by which the
prohibitionist seeks to keep microbes
out ft his drinking water are made by
a $2,000,000 trust. His overshoes are
made a luxury by the ftibbet* trust, and
if his wife wears ribbons he must help
pay dividends on tho $18,000,000 capital
of the ribbon umfiilfacturers’ trust. If
he wears a celluloid collar, he pays trib
ate to an $8,000,000 trust, and a linen
collar helps the $10.500.600 starch trust.
Even porcelain teeth are manufac
tured under an ironclad price agree
ment, kept up by the American Trade
association, which is another name for
the dental supplies trust Theaters are
under the contiol of combines, and the
price of cloth and clothes is controlled
by trade agreements that in many in
stances amount almost to a trust.
Snuff, thread, rubber goods, tinware,
pottery, telephones, flour and soda wa
ter are all controlled by trusts capital
ized at from $500,000 to many millions
And there is no respite left for a man
even when he is dead, for the ice trust
will have its plethoric dividends, and it
would be next to impossible for his
relatives to buy him a casket without
consulting the price list of the burial
casket trust, whose capital is $15,000,-
000. and various stone and granite com
bines get a good profit for allowing the
poor man to have the spot marked of
his last resting place.
This investigation could be carried
on almost indefinitely From the cradle
to the grave capitalistic combinations
of one kind or another levy tribute from
the people, who have no other choice
than to yield whatever is demanded.
On the other hand, the combines fix
wages and therefore the consuming
power of a large portion of the people.
It would appear from this that the
trusts are doomed to failure, because if
they don't pay high wages and continue
raising them consumption will grad
ually lessen in proportion to the in
crease of production But when we re
alize that labor constantly produces
new wealth, that the profit eating mid
dle men are being wiped out, that the
farmers are entirely unprotected and
fleeced by the trusts and that foreign
markets are being conquered for the
purpose of unloading their surplus prod
ucts it will be seen that the trusts can
not possibly fail until they have accom
plished their mission, when the civilized
world shall have accepted socialism. —
Cleveland Citizen.
That Farmer*’ Party.
Farmers of Connecticut. New York.
New Jersey, Ohio, Indiana. South Da
kota, Wyoming. lowa. Nebraska. Kan
sas, Missouri, Kentucky, Texas, Arkan
sas and California are forming state
branches of the proposed new national
farmers' party and are preparing to send
representatives to the national execu
tive committee’s meeting, which is to
be called soon by the projectors of the
new party movement at Avon, this
state. The meeting is to be held prob
ably in Chicago.—Chicago Record.
Gainesville, Jefferson & Southern Railroad!
SAMUEL (J. DUNLAP, Receiver. \
Time table No. 12, taking effect 5. 50 a. m., Jan. 6, 1899, \
MAIN LIISTK \
NORTHBOUND. Between Social Circle jSOUTH BOUND
Read Downward and Gainesville. Read Upward.!
First Class. First Class.
93 91 85 83 81 STATIONS. 82 84 86 92 9,
Sun- Snn- Daily Daily Daily r - r , j o1 ,„ . „ L
day clay ex ex ex da ’ ly dail >’ Sun- Sun
(only only Sun Sun Sun c' q, x da . v d.y
| ' j sun Sun Sun only only
C am am Ip m Tv. “ Ar a m Ip m ?T*
g 1100 11 OOj 450 SOCIAL CIRCLE 9 15| 3SO s 2(> £
§ 11 1® I* 20 505 GRESHAM g 55 3 10 905 §
F- 113 u 1140 S MONROE. 835 2 50 8 50 |
5 1145 Hi CAMPTON 815 2 30 835 5
6 1158 a.i BETHLEHEM 800 2 15 8 22 ®
O 7 40 130 g )4-
1230 g. 157 648 MULBERRY 7gn 1,0 b 754 TT
*1 12 45 g- 2177 03 HOSCHIUN 7 ~£ lz S 739 SS
daily Ino 245 723 ~ nrn* * ’ ®e B 710
ex luy § ,46 HICKORY 1 REF’. 645i 30 P lJ daily
Sun P* q. ex
_ " # ■ Sun
640 11® 7 BELLMONT 40 )() 25 7 14 p m
G 45 730 KLONDIKE 6 35; 10 2t 7 If
650 120 -U5 740 CANDLER 63010 15 7 ‘£s
710 145 . 3 "° 800 GAINESVILLE. 610 955 640 720
am P m pmpm Ar . Lv. a m |a m a m p 7 £
8 7 191185183 jBl j ~ \S2jS4\W\9^
No. 82 will run to Social Circle regardless of No. 83.
No. 84 will run to Social Circle regardless of No. 81,
No. 83 will run to Winder regardless of No. 84.
No. 84 will run to Winder regardless of No. 83.
No. 92 wid run to Social Circle regardles of No. 9],
JEFFERSON BRANCH.
Time Table No. 12, taking effect 5.50 am., Jan. 6, 1899.
NORTH BOUND Between Jefferson and SOUTH BOUND
Read Downward Bellmont. Read Upward.
First Class. First Class.
“ 89“ "§7“ STATIONS. “88fT 90"
Daily Daily Daily | Dany
except except except i except
Sun Sun __ Sun | Sun
P. M. A. M. Lv. Ar. P. AITA M.
1135 SSO JEFFERSON! -=> 810 11 lu
12 00 615 PEN >ERGRASS 748 10 43 i
13 35 40 BELLMONT 730 10 26
P M. 'A. M. Ar. v.P. M. A. M. j
Tj 'So i 7 I 88 I 99 I
No. 90 will run to Jefferson regardless of No. 89.
>1
[African Limbless
Cotton Seed Free....
Anyone who sends one dollar for a year’s subscription to the At
lanta Semi-Weekly Journal can get postpaid one pound of the cele
brated African Limbless Cotton Seed without charge.
A pound of these seed will plant one-fifth of an acre, and with
i proper attention should yield enough to plant a crop,
i The seed were tested in a list of thirty varieties by the Georgia
Experiment Station and a bulletin recently issued by Director Red
ding shows that the African Limbless Cotton produced 70 pounds
i more per acre than any other variety, and 161 pounds more per acre
than the average of thirty leading varieties.
The African Limbless Cotton produced 780 pounds of lint per acre,
1 which is nearly four times the average on the farms of the South,
i This shows what high fertilization and thorough culture will do
with these excellent Seed. The value of the product, counting cotton
1 at 5 cents and seed at 13 cents a bushel, was over $45 per acre. The
i cost of fertilizers used was $4.77 per acre.
The Journal does not guarantee results, but the result of the test
at the Experiment Station makes it worth a farmer’s while to test
i these seed when he can get them for nothing.
The Journal brings you the NEWS OF THE WORLD TWICE A
WEEK with hundreds of articles of special interest about the farm,
1 the household, juvenile topics, etc., and every southern farmer
i should have the paper.
You don’t have to wait a week for the news, but get it twice as
often as you do in the weeklies, which charge the same price.
1 AGENTS WANTED EVERYWHERE,
i Send for a sample copy. Address,
THE JOURNAL, Atlanta, Ga.
The Jackson Economist and The Semi-Weekly Jovrnal 1 year $125.
“Frank's Cough Cure is the best I ever used.” —Rob’t L. Taylor.
FEMALE
fFRANIf $ FRiEi "5
—— / Celery Compnil w
' BUILDS UP RUN DOWN
MEN AND WOriEN.
Manufactured only by MARBLE CITY DRUG C 0 Knoxville, Tenn.
-VVinder Drug Co*