The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1878-11-23
Saturday. November az. 1873.



are informed that prominent stakeholder
Of one Of our national banks says that
whereas heretofore 10 more prosperous
Chat is to say inhatedl times the bank
was able to declare dividend Of fifteen
per cent, now the same bank will be doing
we'll TO declare one Of six per cent, That
looks like good evidence of material de-
crease of business, or Of profits made upon
the business transacted. But at the
same time would il not be we'll to inquire
whether all other branches of business are
not similarly affected-iu fact whether
they are not sufferers to a still greater
extent. 1t would be quite pertinent to
inquire whether there is a grocery. ashop,
or store in the city which can safely
claim a net profit on the capital invested
of even six per cent, for the last year or
so. 1t that be the case, then the banking
interests are not sufferers to as great
extent as other kinds Of business
aud have no reason to claim any undue
hardship on account of their diminished
dividends.
How is it with the laboriug classes? A
few years since the wages of laborsr
were two dollars per day-the same class
of work now receives as wages seveuty-five
cents to one dollar per day, or decrease
of wages amounting to one hundred per
cent reduction. 1t is quite safe to say
that all classes Of labor paid by wages has
decreased in the wage rate from fifty to
one hundred per cent. Upon whom then
does the greatest burden fall, those whose
net profits have fallen from fifteen per
cent to six, or those whose wage rate has
fallen not ten per cent but one hundred?
These observations are made without
references to the causes which have pro-
duced this condition Of affairs. and without
intending to intimate that any class Of
business is in any special manner response
bic for the elimination of profits to one
party or Of wages to the other. But it
does effectually meet any COM
plant that capital is uuduly suf-
fering beyond its proper share because of
the large percentage Of shrinkage in its
profits. 1t is clear to every uuprejudiced
mind that capital, Notwithstanding the
hard times and diminished net profits. Is
still doing as we'll if not decidedly better
that the non capitalist and the manual
labor element of the country. The oft
repeated assertion that capital can take
care of itself is still as manifest 10 the
present financial difficulties as it is 10 more
prosperous times. The advantages are at
all times on the side Of the possessor of
wealth, and whatever legislation, if auy,
which is not absolutely generalin its effect,
and felt directly by all alike, should be for
the advantage of the weaker interest as
being most in need of such assistance.
Let it be distinctly understood that it is
not the province of legislation, nor of auy
department of government, to make war
upon the legitimate rights Of capital any
more than upon the legitimate interests
which exists among non-capitaists. Men of
means who avail themselves of the laws of
the country to do a banking business
have legal right to avail themselves of
every advantage which the laws
afford to make their business profitable,
and no one has right to compls;1 of their
mskiDg large profits, whenever such is the
case, so long as they do nothing which is
not toirly sanctioned by the laws under
which they operate. The fault is not in
men of wealth operating under the laws
to increase their wealth, but 10 the enact
mont of such laws as afford undue advaut-
ages to capital TO increase and enlarge at
the expense of the laboring classes The
legitimate profits Of accumulated capital
are nothing unreasonable, nothing improp
er, and it may be further said are in DO way
detrimental to the general interest aud
welfare of the body polite. National pow
erty is as great disadvantage among the
nations of the earth. as Individual poverty
Is among citizens Where wealth is not
the result Of special advantages conferred
by law, and Of which only those who are
wealthy can by any possibility become par
takers, it must perforce be the result of
industry, foresight, economy, and practi-
Gal business talents. aud whoever thus be-
comes person of means is entitled to the
fruits OF his labor without Disagreement,
or without division with those who have
not exercised the same prudence, thrift,
and laborious care.
The principle involved IN legislation for
the country is this: that no special advan~
tages should be bestowed upon wealth, In
diVldually or in the aggregate, which can
De turned to serviceable account to pro-
mote their interests alone at the expense
OF those who cannot avail themselves of
the same advantages. When the govern
ment protects wealth from despoliation.
from communism, and affords it the Sc
curity and protection which attaches to
personal possession and use of property,
and then leaves wealth to take care of it.
self, it has done all that government ought
OF right to do-and there is no danger but
wealth will take care of itself. But going
step further and SO legislating that the
inevitable consequence OF the legislation is
to increase the facilities OF wealth for
taking care Of itself and at the same ,;mo
dlmiuishes the chances of the Door to
take care OF themselves is simply legis-
lating 10 make the rich richer aud the moor
poorer.
There IL n preat deal ag =,