They Want An Honest Dollar

They (farmers) want a dollar that will pay a dollar of debt no matter when, how, where or to whom contracted. - Adrián Press. True, neighbor; hut debt paying power is not the, only virtue the farmer demands of his dollar. He wants a dollar as well that will buy a dollar's worth of goods no matter when, how, where or of whom pur chased. Any dollar that does not possess both of these functions in like degree is a dishonest dollar. It is possible, perhaps, for a dollar possessing the rirst without the second to be temporarily advantageous to a debtor, but it could not be pernianently so. The interests, ties and relations of all classes are too intimately bound together in our complex civihzation to permit any one class to be permanently advantaged at the expense of some other class. There is no one class whose interests are paramount to all others. The creditor class, for insiance, is just as essential to the growth and development of our industries as the debtor class. The nation is made up of numberless interests, but this seeming diversity really constitutes one great unit or ' unitary organisni. As well expect the human body, therefore, to reach its highest state of healthfulness and deveíopment by a process of training which, while abnormally developing one of its members, produces an ïnteebled condition of the others, as to expect the greatest good to flow from a monetary system that prospers one class or section at the expense of another. The highest prosperity and welfare of each class and section is included in that which is general. Special legislation, designed to favor one class over another, besides beingwrongin principie, is sure toarouse antagonisms and array class against class and section against section and result in a loss of effective energy. Thus a diea bollar intended to advantage th' aebtor at the expense of the creuitor would set these two classes, so essential to each other, in opposition and the final result would be harmful to both. The payment of obligations in a cheapened currency is a species of repudiation of these obligations and in the end must prove a mistaken policy. Such a currency would disadvantage the creditor to the same extent that it advantaged the debtor, whereas the pre-exquisites of a sound, stable currency are equality of advantage to all classes and sections, equal purchasing and debt paying power and freedom from violent flunctuations. High credit, credit free from elements of doubt, is vastly more advantageous than any temporary profit to flow from the use of cheap money in the payment of debts, The steady maintenance of such credit brings money from its hiding and secures its investment in new enterprises. It enables debtors to secure capital neeSed for developing business at a low rate of interest. It attracts capital into localities whue it is greatly needed and leads to rapid industrial growth. It begets confidence and confidence is the "power house" of the industrial world. On the other hand, cheap money, while enabling the debtor to scale down his debts, at the same time reduces the purchasing power of the dollar; leads to wild speculation and extravagance; causes men to contract debts with little hope of paying them, debts that are largely agumented by a return to a stable financial basis; and causes great losses to labor in this that wages and salaries never rise in proportion to the rise in the values of natural producís. The real interest of the farmer does not lie, therefore, in having cheap money with which to pay his debts, but rather in having a currency that is as good to buy with as to pay with; a currency that in so far as is possible, is free from fluctuations and elements of uncertainty; a currency whose valué is natural or intrinsic rather than artificial or fiat. In response to a resolution of congress, the president has sent to that body such official information as he has received relating to the Armenian outrages. No official report of the alleged atrocities seems to have come to the department. A telegram of inquiry was sent out by the state department to Minister Terrill, and a reply received to the effect that a conflict had taken place between armed Armenians and Turkish soldiers, in which several hundred of the former were killed. Also another telegram saying that information from the British ambassador indicated that far more lives were lost in the conflict than was indicated by the first telegram. The minister says, however, that he had absolutely no information as to the alleged cruelties practiced. Consul Jewett has been sent to the scène of the trouble to learn the facts. l'ncle Sam is having a tussle with his big boy, Michigan. The understrapper, through the sheriff and his deputies up in Allegan county aroused the old gentleman's wrath by releasing certain of Samuel's prisoners who had been arrested for alleged violation of the liquor ïaw, and turned over to the said sheriff for safe keeping. The released prisoners thereupon had United States Deputy Marshal O ' Don nel; . arrested while in the discharge of j iiis official diities. As a result your Uncle Sam rcached out with his long arm and gathered into the Grand Rapids bastile nearly all the j peace officers of Allegan county. It don't pay for anybody to exaspérate the old gentleman. He is good natured and long suffering, but he has the "get there" when he starts in. Sir Joiin Thompson, premier of Canada, died at Windsor castle, on the i2th inst., very suddenly. He had just attended a meeting of the privy council and while at luncheon he was taken ill and died at once. His death will be a great loss to Canada, as he was an able man, a man of high character and stearling worth. His public career, as well as private, has been above reproach. He was connected with the British commission that arranged the fisheries treaty at Washington in 1888 and rendered distinguished services for which he was knighted. The yellow metal continúes to leave the treasury. Wednesday two millions were withdrawn from the sub-treasury at New Vork. The withdrawals since the first of December amount to $12,702,608. At this rate it will not be long before the secretary will have to go borrowing again unless congress gets itself together and devises some financial legislation that will relieve the farcial see-saw. Failure to adjust this kindergarten problem of finance will be a serious reflection upon official and private financial intelligence. At the beginning of the New Year more than 18,000 Tammanyites will lose their jobs, and be turned out in midwinter upon the tender mercies of a cold world. Their loss of employment is chargeable directly to the republican victory of last month. Thus are the industries of the country made to suffer by a return of the g. o. p. to power. Nöw let Rome howl. The state board of agriculture will ask the legislature for $44,750 this trip. They want it for the following purposes: Dairy building, $17,500; repairs, $15,000; student labor, $8,000; farm and stock barn, $4.,000; front fence,'$2 5ö. The state department at Lanslng has just issued an interesting bulletin of the late census of Michigan. According to the figures given, the peninsular state now has a population of 2,241,454, an increase of 147,565 since 1890.