I.P. Gile, a farmer living near the mouth of More creek, has made an assignment in favor of his creditors. His liabilities are given at a trifle over $3,000; estimated assets, $2,000, which includes his homestead and stock and personal property. Mr. Gile is a hard working, honest farmer, and has done his best for many long years to get his head above water, but had to give up all hopes of succeeding. Farmers everywhere are hard struggling, at best, to make a living for themselves and their families. Such a condition ought not to exist. It has been brought about by the legislation engineer, and we will say, also purchased, by bond-holders and other interest gatherers. They have lessened the supply of money and increased the value and volume of debts until there are now $25 of debts for every $1 of money, and their scheme is to still further contract the currency. Not only this, but through their manipulations farmers of India have been given a great advantage over the American farmer. When industry cannot get hold of money with which to pay, debts cannot be paid. Farmers from the Atlantic to the Pacific are loaded down with the debts and are struggling as they never have before. Under the present condition they will all soon be reduced to mere tenants—or worse than that. The gold bugs—the contractors of the currency—in other words, highway robbers, rule. How long will they continue to rule? How long can honest industry endure their rule?
Source: Idaho Semi-Weekly World, August 11, 1893.