The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1874-11-27
- ,,.sy.x,,u. CR,SRs-PRoFES

.v tarNsEtItt Nk!SfS-i hor s~">'N
l''>' ,,..-,g>M pr rKoFESSoR BoNAMY
-. ~ .-.p,>s-A CHlSl> A REprcrleN OF
-. ns t,rI7Al.--To the Editor OF
- '''', read with SreatlntcrcSt
,-g =. professor Rnxamy Prhce. OF
-. ,.,r,c~, y. concerning crises i'll com.
~. r,,,n!y. which was Nnhtishea III the
y .5f ut-rh-r , last. Dir. tricc terms,
...'.....r crisis \ diS;roportion OF con-
',.'.',. .nt p-edIciiou- and he thinks that,
-. .-,-,far. tu. the nan-reI.ro0ection OF
,..,:> j. ;hcc>>catial Cause OF Such
''.. n IL tir>i place, | cannot ad.
....-. .-.. -. consumption oF goods wa'ch are
~...' ..'.,,sr.,.. i not destruction. Sol-
,,,r.u.ncr-. but not producers (;
.,..,. t.'.agrr> arv consumers. hut they
.r,n,ger in case Of bad 'har-
~; - are All workmcn whose
.r,e.r> wi:Aou, result. The conclu-
'.> -, I'M. il weare 10 investigate the
'". q s.,r-llrrcial crisis we cannot make
-...-.r... a.,mrcu had harvest, war. and
.........aa. EU; | wonder that MIR.
&c.. ,..,a. II the Very point where he
'.....:...e. .,:n tGy question. thlnk the
... !! ~ i i, that the manutac-
...... M ...r Proprietor have not repro
......... -. transmitted 10 them by the
49, .,. wat j % be done in such 4
... !, l.s opinion a commercial crisis Is
-.,. --,..r'inw in the value OF cspltal,
...,,r nom 4 WANT ot money or a
-..,.. ..,,r. Ii you do not have a large
.........-r. O.. not enough money for paying
...... ., IT. the ease U! Il large eNportatlon OF
-. HI; silver. or Of a disorder IN the
.-.. >,>.-M. uur capital must be more
-. .;.;scti4lcd. That j., the value OF
... ..n.ratlr 2ood> ana OF property
~.,..luai,r il real level. You have less
... n ygu! hands, hut YOU could have
-- : gau uaG more money. lou are ike
N. wi.h two carriages but only two
....-. ~ orr Of them, and so the other
--...~ = r,all; not existing for you. This
49,, .7.>l> MAY he cured by the augmen-
.....r., ulrltv, specially by the transform
g.. d.. sg..iri--ii not before exhausted
g.. Z. -,y. AID that is the bankers buSi-
-. Nu.r, i ready value, credit IS not
-....y.'n: ;hat i 10 say. a deduction Of
,..-..y three months from its nominal
g.. Tn. banker. business is to remove
....,-.-iy .ruove that difference Of time
.r .... i,..a -. bIuk. notes. SO the banker
a;u..-uf TINE. and this bankers time
FL ~. or Hearty money.
/. Il. >~-rnt Place, if you have plenty OF
XIII. hUA5fulI production, there must
.- . .a..usy 0i !abor-Iahor takep rs a
.,-- Id lie society. Capital is the COM
E... q, ,,ar and consequently Of labor,
.4. .e.r...a mass o. capital requires cor
=. ..s..- >y-i,m Of combined labor: that
s,.l quantity and quality of labor as
..g -'e tAc capital Of society the full de-
L.. 4. .N'.At and power. You have rail-
49,, std fAc houses, and other splendid
.-..,. ... j. YOU do not have the command
Il H.. it, lined labor, your capital IS dead, :,
c-..t dead. II cannot move. The fact is,
..v. oLlva nominal, not 4 real, capital !;
..--.,. g!tal, ANA value, and money, With
81. Symmetrical establishment Of labor,
=. l-. Ga.ac~ and signs. aud not realities.
gT. GoN vii perhaps object that deficiency
S.. .-... ! n"t yUlr case, and that you have
3. .'.l.1Lcc oi hands which you cannot
81. : >Gca an objection would not be
"~... il you viii build a palace which
ike, log.oU0 bricks, and you have only
. 'n .ay" luu then IN abundant number
...a~, .or The construction of your palace !:
T.. i99a1 are good for nothing to you,
-a- !@t cannot employ them, except you
=" .~. .o:.t-nt 10 I've in cottage. There
T. 80. nave too many bricks only because
..H- loo few. 1t Is the same with ma
..'.. .'"r. II YOU have labor enough for
-.a :. -.g.TAy> And house,. and you have
-&,~..@"It labor to till the III up with per-
: :, jill .ogd>, you suffer by Il deficiency OF
i.... though The labor market may 1T the
~, III ,rcm oNerstockcd. One hundred
"..,-.e1, il YOU need i've hundred, are i
'a-. d. .!!pr. And even if America had
:, a~.;,J"i.- provision Of labor and Eu-
r ..r contrary there would still be in
..--!i.'a want Oi combined labor.
-. 10" compare the number OF your
'.-+iI9n and immigration Of the last score
:. !:+!> "Itu hose OF the foregoing periods.
'~.,a ol tie rapid series of murderouS
~ llnn@ The Napoleon and Bismarck era ;
=. - !hcrN>ant strikes and other reductions
- - daity and yearly work; of the epl-
Ill.,, S!>ra>c.. high taxes, and famine prices;
Il. .-r oO9Matism IN the Church; Of the
-".4tI,n III the State, and Of SO many
'-,@s' N!icu keep down the development of
and oi the higher qualification Of
,','' ,-','' hen think you will admit that in
'-,'.'E >vcIcty there are many and strong
80, ., o' "ant OF Labor. Our present state
10 . s-''"l}, cannot refrain from proclliming
H.. IT, > -,'sN iabol-killer, and whatever kills
- =. ali, capital. Bad seasons, wars, bad
'.~"y'' ignorance, aud supcrsti-ion-such
=. -" Great cau>e, of the want Of COM
., .'.- 2.af What is to be done then? The
."s. ! ready. Give high wages and a
va! 10 ID" social development Of labor.
j.. io!get that tall of value is deficit
- '-b9r >!Stvm. | ain, sir, yours truly
H. Hermann RoEsLER, Full. Dr.,
'''',s6F Al tie Uniyelsity OF Rostock.
.. '-.,.&, ,- N:ck!entsr9. Schererin, October