The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-05-11

| began TO lay the latter part OF November,
and during the past seven days they
have laid 10. eggs, or an average of Is
81 per day, in mild weather. with the
thermometer varying from two to fifty
degrees. The highest number laid in
| one day being 10 and the lowest IA eggs.
What breed can do betters
POWER OF MoNEY-iNTEREsT.
In your comments upon an article in
the Western Farm Journal, of Feb. p,
1876. relative to the estate bequeathed
by Wm. 3. Astor to his son, YOU say, in
closing:
s.It NAV not be an easy matter to de-
termine what should be done to prevent
the amassing OF such colossal private
fortunes in this country, at the expense
OF its industries, and the comfort Of the
people. out it is perfectly clear TO our
mind that there is danger to be appre-
hended from the power such immense
wealth has of absorbing and attracting
to itself the lesser fortunes with which it
NAV come in contact, and the sooner
the subject is understood and the danger
met, the easier will it be to dispose of it
to the best interests Of all parties con-
cerned"
When the accumulative power Of mon
ey by high rates of interest is better IN
derstood by those engaged in the ave.
nues of production, then will the unjust
monetary laws be repealed, and honest
lust ones enacted which shall recognize
the rights OF labor and useful productive
industry Then will this accretive and
absorbing power cease, and the surplus
wealth which labor creates be distribu-
ted and diffused more evenly and hon
estly. The eternal law OF supply and
demand" which we hear so much about,
and which is said by some of our polit-
ical economy writer's to be the great pan
acea Tor all Ills, is all very well when
allowed to obtain, but where combina-
ton is possible, as in money, this law OF
competition has little force or effect. In
terest at high rates is the cancer which
is eating the vitals out Of productive en-.
terprise The ruinous effect upon bust
ness by high rates of interest, as COM
pared with low, few seem to compre-
bend. One dollar placed at interest at
three per cent, and compounded,
amounts, il 100 years. to less than $40,
while the same sum tor the same time at
ten per cent. amounts to the enormous
sum OF over $4,000. When labor and
capital combined cannot produce more
than three per cent, as shown by the
statistics Of this and other countries, it
capital is to take ten per cent, or even
six, labor can have little above subsist-
ence, food, clothing and shelter.
In my judgment, capital should have
but small share of the profits of labor
and capital. as ittakes comparatively no
chances, labor, or the borrower assum-
ing all the risks incident to every useful
industry The money loaner must be
compelled to adopt one OF the three
modes. as follows:
lst Loan alta price the indus ries can
afford to pay. IN. Engage il the IN
dustres, and hence employ the labor Of
the country, or 3D. Hoard his money
and receive no income. The first or
second vii. inevitably be pursued. as
capital is governed by the law Of in
crease.
The power Of this government to is
sue money aud fix its value, is one of its
highest functions. and should be exer-
c,sed in the interest OF those who. by
their labor. produce the wealth of our
country. II our government will give
us a greenback currency, convertible in
to gold interest and principal bearing
bonds on long time, say fifteen to fifty
years. at the pleasure ofthe government
ment. with interest not to exceed to
sos per cent. and recoverable into
greenbacks at the pleasure of the hold
err, | believe we should approach nearer
perfect currency than was ever known
in the history OF the world The gov
eminent standard OF interest being low.
would be q great governing and con-
trolling power in favor OF low interest.
When there was large demand for
currency to move the crops to the sea-
board interest would naturally rise. and
bonds be converted into greenbacks.
Thusth currency would expand to meet
the wants of trade and commerce and be
retired in bonds when not needed in
these channels OF industry and the law
Of supply and demand" allowed 10 OBJ
tain. The wicked resumption act OF
| 1875 should be at once repealed. and the
resumption of specie pay ment lett 20 the
economic laws OF trade, which will work
out the desired result without CONFUSION.
or ruin TO the producer. What the peo-
pie want is plenty Of money. equal in
value to gold. with low interest. Give
| them this and with our vas; undevel-
oped resources. they will soon make the
United States the great gold receptacle
OF the world, as England IS to-day
Withhold this from them and the te will
soon amass the entire wealth OF the
world. and the many be "hewers OF
wood and drawers OF water"
W. w. FIELD.
Sec'y Wis. State Ag'l Society.
State Agricultural rooms.
| Madison. Wis, Feb. IA. 1876.