New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1849-02-06
Interest and Wages-Cnrrency and Industry
Capital and Labor.


Why should some men enjoy everything yet
{ produce nothing while others produce much and
'cnioy or receive little Ought the laws Of
. Society 20 enable and empower some - live in
idle luxury and profusion, while far larger num-
Der toll necessarily for a scanty subsistence or
famish because opportunity for even such toll Is
mot afforded themp What IS the reason that
% many go hungry and naked while food aud
clothing glut the markets Of the civilized world
Such is the great question, variously stated
which now challenges the regard Of earnest
thinkers throughout the world. II - essen
tally the Problem Of the Age, though many
patrons Of the Opera may never have heard /
proposed, and it probably did not engross large
share Of the conversation at the late Fancy Bal.
The time has hardly arrived for It's intrusion upon
such refined circles yet even there It's day viii
come. As yet, 1t is mainly pondered By vulgar
and shabby people-mere nobodies IN the fashion
able world. Your artisan out Of work sometimes
thinks Of IT, as he trudges home 10 his hungry
children after a day OF humlliating pilgrimage
from shop to shop in search Of something to DO ;
but by and by Spring opens, business starts his
wages come back, his table Is well furnished, aud
he dismisses all Radical vsgares 10 those who
have no better employment than cherishng
them. Your mercantile journal never toe
rates them; even your backyard and black
mail oracle as yet can make more money by
,carrilous abuse and misrepresentation Of the
advocates of Reform than by an honest statement
of their propositions. Such sheet IS ever an
apostle OF Radicalism bat always Of a different
and darker hue-a radicalism which conounds
Religion with Hypocrisy, Wealth with Over
reaching, and teaches the penniless rogue whom
his own knavery has ruined that the respectable
and prosperous man IL but more dexterous or
lucky rascal than himself From none OF the es-
tablished organs Of popular sentiment does the
true Radioalism that looks not 10 disruption and
prosration but 10 correction and conservation re-
ceive any countenance. And yet It gains and
grows; for the disparity of conditions is daily
widening Psupersm daily expands and adgan-
oes and the number and mserIes Of the Unem-
ployed is year by year increasing Hence to be
q thinker and TO be a reiormer are substantially
synonymous.
-" Labor and other Capital The Rights OF
each Secured and the Wrongs OF both Eradicated
BY Edward Kellogg Author OF Currency, the
Evil and the Remedy, IS fair octave Just Is
sued by the author, merchant OF his City, and
for sale by him at AZ Stone-sreet. 1t Is the work
of a man who has thought much more than he has
written, and thought to good purpose. In SIM
plcity and cearness, his writings have few supe-
riors and there is not a word inserted for orna-
ment from beginning to end OF his volume All is
for use and to the purpose, and If this book should
be but generally read it must revolutionize the
~ r. m tha III
radical reform. They might agree with or dissent
from the author as to the nature OF such reform,
but they could hardly dispute its urgency.
Mr.. Kellogg regards Usury-by which term we
mean the taking Of undue mot necessarily Illegal
Interest-as the all-devourng cancer OF civilized
society, booming the many to toll hopelessiy and
unfortunately for the profit and ACKNOWLEDGEMENT oil
the few. He argues and adduces facts to show
that Money or Property is not worth seven nor SIX
Der cent interest, and that while any such rate is
paid there can be neither just reward nor constant
employment for Human Labor. To this point he ad-
duces many facts like these: The total valuation
of our State in 1895 was s5SO,Ooo,ooO, which IN
ls45 had increased to s6O5 900 600, at rate OF
less than one and half per cent. Yet this State
doubtless gained largely by immigration and by
commerce during these intervening ten years
over and above her losses by those means This
one and half per cent. is the total net increase
of both Labor and Capital. OF course, whoever
had leased the whole State and agreed to pay
seven per cent. for it, or had bought II with Dor
rowed money, must have inevitably been ruined
by his venture.
So also of thrifty, energetic Massachusetts Her
Il, IN,
1910 had swelled to $500 900 0oO-an extraordi.
nary increase. Yet ii the siiOOO,00O had been
loaned on six months notes in 1890 at only SIX per
cent interest, it would have grown by 1910 to
over 5000 600 600 or three times the actual IN
crease of property, with all the stimulus Afforded
by the rapid progress OF Invention, the growth OF
Manufactures, &c.
The Population Of our State increased from 1880
70 isao at the rate OF two per cent per annum
very nearly. The increase OF Property, we have
seen. was considerably less. The few grew
richer but the larger number were poorer and
more dependent in 1910 than they had been IN
1880.
One thousand dollars loaned at six per cent
payable hsliyearly in one hundred and twenty
years becomes sl,O24. (00i in two hundred and
fifty years sl,Ois,576,OO0. II the whole United
States had been sold on the day Virginia was set
tied at James town for Al 000-seoured by seven
per cent mortgage, interest payable semi annual
ly-the whole valuation OF this vast country
would not now suffice to pay the debt
We cannot farther pursue these illustrations oil
the rapscity with which Interest pursues and de-
YOURS the products of Labor, but few persons have
any idea of it, Let three thousand capitalists
own halt the property IN State or Province con
tanning a population OF One Million this is about
an average proportioD) and there is hardly
chance tina, w ealth and Poverty, Luxury ana Mis-
cry. should not both increase with fearful rapidhy
OF Mr. Kellogg's remedy we may speak more
fully hereafter. For the present, let US pause and
reflect on the evil and the peril
NORTH CARoLISA.-The Legislature OF this
State adjourned on the 29th of January. Among the
bills which passed during the session the following
For the relief of the Wilmington and Raleigh Rail.
road Company Empowers the Company to mortgage
the road and m sppurtenanees to the amount OF soo'
an f ,hs of iron to relay the track giving