New Oregon plaindealer. (New Oregon, Iowa) 1859-1866, 1861-11-01
REAL md FICTITIOUS HF.fLTH.

NO evil or mOuern society Is perhaps
as injurious to the realpro gress Of man.
kind and the dearest interests Of hu-
manity as the concentration of capital.
The organization Of society, socially
ucceerates this, and must be consider
ell the most dangerous encmy OF the
people. The vital interests Of our race
are promoted by the diffusion of wealth:
and consequently its concentration
works direct and permanent injury to
all it's interests. Power is attained
through the concentration of money,
because it purchases men and means for
the accomplishment of almost any pur-
pose it may hold dear. Its own exist
cace is preserved, and it constantly
grows stronger aud stronger in all its
conflicts with the m 1sScS, while the
poor grow weaker and weaker, aHi Of
course more incapable Of resisting its
advancing encvoachments upon them.
The laws regulating currcncy and
the notes of exchange, and controlling
trade and commerce are as immutable
as the laws Of gravitation: are as rca0i-
" and accurately defined in the laws of
political economy as are the causes q.
the ebb and flow Of the tides in aStro-
nomical science.
It is one of the laws Of currency
that it's power is one Of almost Infinite
expansion; but the fact still sands un-
relutel and incontrovertable that this
increase does not make money perma.
nentlv easier or increase its value.
Scarcely an individual ont is anxious to
get as large a nominal price for what
he has to dispose of as possible, and
this eagcrness for great prices is ever
taxing the quantity q! currency in cir
culation to its utmost capacity. If this
demand for increased prices can be met
nv issuing bank or treasury notes to the
extent dem,nlcl by this increase in
price the relief is but temporary, and
the ability of the government, or Of the
Banks to redeem its paper. is in direct
proportion to the amount Of soid and
silver they may control as compared
with their issues.
y popular theory among American
statesmen in the banking interest, has
been that ifpaper money ouly increases
with the demand for it, the people are
safe in receiving it in payment for all
articles they may have to dispose Of.
10 Illustrate the fallacy Of this popular
error, suppose the agricultural interests
of Iowa required all the bank issues Of
Wisconsin in the purchase Of it's pro-
duets: would that fact add one iota to
the ability of the B,nks to redeem .heir
issues, beyond the amount Of gold and
silver they may have on hand for that
purpose? Instead of money being made
more plentiful, or trade being :ccelera-
ted by any such policy, only the fctl-
tious representation Of wealth is con-
suited i'll such ':promises to pay and
trade Is nearly destroyed; merchants
and business men rendered bankrupt by
each successive reyulsion in bank fnan-
ces. Six months az, the business OF
Iowa was nearly Frustrated to the
ground by the failure of the Wisconsin
hanks: while those swmdling institu-
tions sweIlel their Golfers by purchas-
ing in their bills at from 80 to IS per
cent Of their represented value. Now
the same thing is to be again brought
nobeut as soon as time can work out the
Iproblem. Her banks are again issuing
the same Identical bills, based upon
bonds thirty to forty per cent below
par, and upon the pledge of certain par
ties in the bank interest OF the State TO
make their issues good to the lst of
Dec, 1861. And such bank issues,
the representation Of fictitious and false
wealth, is sure to meet at that time, or
ms soon thereafter as is profitable to
them, a revulsion more terrible than
their recent crash. And whose is the
loss? OF course not the banks, for
they have received dollar for dollar for
their issues; but the poor laborers: the
poor mechanics, the servant girls and