The Cincinnati daily star. [volume] ([Cincinnati, Ohio]) 1875-1880, 1876-02-28
"Dcmand and Supply.

ssDcmand and Supply
There is no political economist OF the
present generation whose thoughts have
not been saturated with homilectics
drawn from the universal text of "De-
mand and Supply" Through all the
books on the subject Of economic sci
pnce the central ideas consist only of
demand and supply. All other topics
injecting the wealth of nations reyolye
around this as the center Of their eco-
nomic system. 1t has come to be the
horn-book, the very primer of the sci
ence of political economy. 1t is sported
with as a common football among all
ports and conditions of men who study
the laws of trade or who pursue the
channels of commerce.
Important and universal as this ele-
rentary principle is admitted to be, its
llnctions in harmonizing and its prerog-
Lives in controlling the movements OF
trade, in all departments, are daily and
continually outraged and overruled by a
i1reign and fictitious element, which has
forced its way into the very organism OF
pur national industry. That adyenti-
tious and conf citing element consists Of
lhe ssrings," SO called, into which our
american system seems to have re-
solved itself.
h The combinations among the various
industrial pursuits, from which our ma
lional wealth must be derived, popularly
called "rings," assume to override the
royal law of business, known as the law
of "Demand and Supply" The rings
Scombine to resist this law. They place
themselves in open and defiant rebellion
against its authority. They undertake
10 regulate demand and supply accord
ing to their own will, which is Away in
conformity with their own interests; and
plways against the interests Of every
BODY else.
Ifeach Of these rings were moving
through infinite space solitary and alone,
It's course might be systematic and har.
monious. But the moment that num-
Der of such rings come to revolve In the
same orbit, collision becomes inevitable,
One department of industry is immedi
ately pitted against another, and so or
until each stands in conflict with all
This is inevitable, because each one and
eIl are removed from their natural and
normal relations with each other. Each
ring has undertaken for itself to
regulate the public demand and
supply by scheme and upon scale
prescribed by itself. The natural
law OF political economy would
regulate the price of commodities by the
Demand and supply; the artificial law Of
che 'srings" would regulate the demand
and supply by the price. That price
they themselves assume to prescribe.
k 1t is certain that men can not success
fully conduct human affairs in any dc
partment OF life, whether it be in The
State, In Society, or In the Church
when pursuing course in opposition Il
natural law. Things OF whatever ma
fure SO undertaken and conducted cal
mot fail to come 70 confusion. Catastro
phe is their only possible end. 1t Is SO
aim mply because Man has assumed to b
greater than God.
This principle has its application t
business affairs as well as to everythin
else connected with human undertal
kngs and enterprise. Can we expect
chen, anything but confusion and disas
Ter in the prosecution OF the business
khis great nation by mode in direct an
fagonisnn with the paramount law Q
business? Can the powerof the "rings'
presume to overrule the omnipotence Q
the natural law OF Demand and supply
Yet this is precisely what the rings 9
this couatry have assumed to 40. Con
FUSION in business has consequentl,
come upon us. We are accustomed =
attribute all the ills that our business
neir 10 to tho condition Of the currency
20 the results of the late war
70 the lack OF confidence In th
future, to the want OF harmon,
between sections, to the uncertaintie
pf politics, without even considering thu
maIIgn influence Of these rings, by whlc
business Is defnoraiizcd, the natufa
law Violated, and tho prosperity Of tn
fpustsy egsse u its It's source. " Any sl0ls