The Somerset press. [volume] (Somerset, Ohio) 1873-1977, 1880-10-07
A Clear.Cut Truth.

Men of ordinary understanding, seeing
that the banker ia able to fix his rate OF
interest, the railroad king his rate of tariff,
the merchant his per cent of profit, the
lawyer and doctor their fees, inquire why
it is that the producer is not able to fix the
price of his product, or the wage-worker
his weekly or monthly stipend. If the
banker can say how much his money is
worth, the former should say how much
his corn ls worth. If railroads regulate
their tariffs, SO should day laborers regu-
late their wages. And what is it that pre-
vents the farmer from fixing the price of
his corn and wheat? When he takes them
to market he finds the price already fixed.
Why should not the laborer be allowed to
value his services as we'll as the lawyer?
All trades and professions except wealth.
producing, name the price of their servi-
ces, and why should not they? The man
who produces wealth has nothing to say
laws of trade fix prices. Trade sells, and,
therefore, it should determine commercial
values" it is asserted. Would it not be
better to say that labor creates, and should
be permitted to establish all values?
Would it not be just to let the intelligent
force that brings all values into existence
fix the price of them? Commerce now,
fixes the price, and production, which is
the primary cause of all values, has no.
thing to say respecting them. 1t creates,
then turns them over to commerce, which
marks" them for the market. This results
from copying the systems of purely COM
mercial countries. England is a nation of
traders and we are copying her customs.
"Supply and demand" it is said, rule
prices. Supply and demand occasionally
rule prices under our present system of
business and finance, but if we had true
system--a system that would make produc-
tion the basic industry-the latter would rule
prices at all times. The changing supply
of money, and the action of boards OF
trade exercise a greater influence over
prices than supply and demand. Board of
trade and like gambling associations, are
the out-growth of our present ffnancia
system, and will exist to interfere with
prices-to gather in the products of labor
without rendering a return service 80
| long as this system is tolerated.
So long az bankers control the volume OF
currency they will be able to fix the price
of every changeable commodity. 2 By an
imitation of the currency all prices rise,
and by contraction they fall; 80 banks hav-
ing the power to initiate or contract the
currency, have the ability to put prices up
or down. They now possess power that
should be taken away from them. The
power to regulate the volume of currency
should be exercised by the whole people
through their representatives in Congress.
By placing it in the hands of the people it
allows production to fix the value Of its
commodities. Production will then be-
come the basic industry and trade a Sec
ondary one. To accomplish this, is the
political issue of to-day. The National
party alone has espoused it. This party
asserts in its platform:
"First-That the right to make and is
sue money is sovereign power to be main-
tanned by the people for the common
benefit. The delegation of this right to
corporations is surrender of the central
attribute of sovereignty. void of constitu-
tional sanction. comforting upon subordi-
nate, irresponsible power, absolute domin-
ion over industry and commerce. All
money, whether metallic or paper, should
be issued and its volume controlled by the
government, and not by or through bank
ing corporations, and when so Issued should
be full legal tender for all debts, public
or private"
This is clear-cut and positive. 1t states
the entire issue. And its Importance can
only be understood by those who have
given the subject of political economy
close study. 1t is the first time this i'm
portant truth has been uttered by party.
And carried out in law it will enable the
producer to fix the price OF his product
Until this is accomplished, labor will
not be emancipated no matter what victo-
ries it wins over capital. 1t is not capital
it should attack but this exacting Money
Power that Is striving to control every
thing for its own advantage. Until this is
accomplished, CO operation in production
eau never be successfully undertaken the
old order of things will continue to curse
the world. Upon this issue, labor must
win its first battle or all other victories will
be frultless,