The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1875-03-17
MISCELLANY.
FINANCES, and THEIR RELATION TO
IEDLVIDUAL AND NATIONAL PROS
PERTH.
"a paper read before The tSole5ury, Pa., Farm
eas' Club, By ROBERT r. ToMLINsoN.)

a UUOeT TGUU OEJOfE fHt SOt60UTYs ~, NUTHt-
ers' Club, By ROBERT II. ToMLINsoN.)
In production, as generally carried on, three
things may be said to enter or take part
First the labor of those who work for wag-
es, or stated salary. Second the labor of
those who direct industrial enterprises Third;
the land, machinery, money and other capital
needed production or necessary exchanging
As three things contribute toward produc-
ton, so the results or returns to industry are
generally divided into three portions. 1st,
wages to the employee 2nd, profits to the
business man, producer or undertaken Bird,
rents, dividends, or interest to the capitalist.
{The English economists make incxtricable
confusion by confounding profits of business
and interest on capital which are essentially
different, and separating interest and rent,
which are essentially similar in their nature.)
In Continental Europe wages for labor and
profits are both at Sc low an ebb that there is
but little circulation in the three classes La
borers for generation after generation still
remain laborers producers with their little or
great capital about hold their own, and
great estates are handed down from father to
son. In such state of society, the slow and
uninform growth of improvements and
wealth, ON the one hand causes little extra de-
mand for money while on the other hand the
superstitious boarding of gold and silver en-
ables that demand to be readily supplied.
,ion1o ~ - s'so '''i.oo wv ~ ~ L.: ~ ~.
iaiu inonoJ no 10 10 ny ,e.y p.,'.'aso.;at'
gooiy euiiohoJ ~ .s 'sna NY oni'se
svn,o u". liV.o 5000 - .usq., y.
sileil ni ~ i;s' ~. ~,
poas. oi hsviis i'sen, ~ .n s ,s". Th" 90
seiec.ioi'' nolu si,e iaiAs VI " 49, sa
perlor energy anu 'ae.S VI 'pvu
causes an cfease ~ anu beno:a
wealth. WHICH soiu "iiu siisoi a. olle" e'y ~
adequate W cAch'nge oue '.o saiio 1ioisy
anu inven'ioi "non " ".
ales "iso ne" a,,oais s.s,.s,aa 81 Iii
creaits u hoees, .neoAs ~ .s
ana pooh aoeounss ,o ,'' w, t ~ ,roid
o'u s,a, sror, ,;s;, in yal,,e Indeed in
70 w - - 4; ~ ;s,,n,,saa
tnes ~ w sai ae :, 'd $780,
WIN .nae !. nay ,a.i =,
p .ius r ~ns;dsrahle denreciation e c,,rren.
'ion =, $3.50 ~ str;ct spae;a redomntian
Ent there NAV occur an Unusual demand for
s,old n make yforeoi, payments or the failure
e. = few nr;vate individuals. or corporations
NAV break down great mass of credits or
the people may suddenly awake to the fact
that bankers have more notes in circulation
than they can possibly redeem in gold One
or more of these causes sooner or later ope-
rates to increase greatly the value of coin and
the notes based upon it. According to theory,
gold should flow in rapidly from other coun-
tries. TO fiji the void But in practice it is
foupd that most other nations are also strug-
cling to retain their somewhat scanty supply
Of gold. Hence prices continue to fall, pro-
ducipg many business failures. These in turn
lessen circulating credits and cause still lower
prices and still more failures until great mass
of business currency is swept away, and with
II most Of those on the lower rounds of the
industrial ladder. In time the fund of gold
is replenished, confidence in measure restor-
ed end another career of business prosperity
commenced, only to end in like disaster. Can
we wonder, with this repeated destruction of a
rising middle class, that the English rich be-