Weekly Chillicothe crisis., 1881-11-17
DISTRIBUTION OF WEALTH.

''''N'' 80 Wv NllaN'lEu Dtllllllel.
Hitherto, political economy has been
zoo much occupied with researches in
10 the means and conditions for the
increase Of wealth, regardless of the
more important question how that
wealth can be properly distributed, so
that the benefits of it shall reach the
Wage.worker, and not simply increase
the stores of the capitalists of the M
ton, If the Greenbc ck party has any
beneficial mission, it should be to pro.
Vide some means by which the benefits
OF national prosperity may reach the
masses, and by which those terrible
commercial and industrial depressions
which have reduced so many to beg
gary may be absolutely prevented.
In considering the measures pro.
posed by the leaders of the party. it
must be confessed that they are lament
aoly deficient to accomplish this end
and yet, to certain extent, the party
IS on the right track. 1t cannot be
doubted that the difficulty arises from
monopolies, ard mainly from the mo.
n)poly Of money. do not mean to
underrate the danger from monopoly
OF land or of transportation. Those
are evils to be remedied, but this mo-
nopoly of money is the principal source
OF the dangers which imperil industry,
and should be the first to be corrected,
II the evils arising from this can be
femedied, the Others will soon receive
proper attention.
The annual products of the country
are distributed in four general direc-
lions, viz: for interest, rent, profits
and wages and the relation Of these
to each other ought to be carefully con.
sidered
1t may be laid down as a general
principle in reference to these that rent
depends on interest, and wages de.
pend on profits. 1t is not meant to be
asserted that any sudden rise in inter.
est is Immediately followed by a cor.
responding rise in rent, but, simply
That the general rate of interest gov.
ernS The general rate of rent. If q
man can make more by investing his
money in houses and lands than by
loanlng it out, he does so; and thus
there is ordinarily 4 kind of equilibri.
um between the two. So, if the ordi
nary rate of profits is large, workmen
through their organizations, are apt tC
know it, and demand an increase OF
wages. while small profits involve q
reduction Of wages.
There is also relation of profits tC
interest on money. In general it may
be said that the rate of interest de-
pend5 on profits, FOR profits must first
he made in order to pay interest; and
tle ordinary rate Of profit will to Ger
tam extent determine the rate of in.
tercst which cm be afforded for The
use OF money. But, various Other
considerations enter into the account
IN determining the rate to be charged
The proportion of the volume of none,
To the amount of the exchanges, The
degree Of monopOlization of money
the wants of borrowers, the condition
OF the banks as to whether the demand
upon them is or is not greater than the
suppIy-all these and many other cir
cumStances may cause the rate of in
terest to advance, sometimes far above
the general rate of profits and some
times TO recede far below it,
Thus we find that, of the four di
rection3 in which products are dis
trlouled, are all related to or depend
ent more or less upon each other, but
the dependence of rent on interest an(
OF wages on profits are closer than il
the other cases.
Now the question: comes, what kline
OF legislation or congressional action
can be adopted in order to cause
more equal distribution of the product!
OF the country, ana so that the pro
ducer may, to greater extent than a
present, enjoy the fruits OF his toll
ana the wage worker may receive
a greater share of the comforts O
life?
1t must be conceded that any at
tempt to regulate wages or profits di
Iectly through congressional and legis
lative action, aside from what littl
may be effected in the regulation o
the hours of labor, must fail. Me-
Wlllnot pay for labor any more thai
they can afford to pay, and work
men must sell their labor at som
price.
The question, therefore, is betweeI
interest and rent. If the government
undertakes to regulate either, in whicl
direction should its efforts be made
Which can it regulate the easiest, AM
which, If properly regulated, woul
tend most to fair and Just distribu
tlon OF the products of the country?
TINS is question whose immens
practical Importance can scarcely b
oyerestimated.
The question on the side of rent ha
Deen argued fully, ingeniously and a
great length by Henry George, in hi
now celebrated work, "progress an
loVerly, but the very basic prime
pie, in his argument, which is Ricardo
theory of rent, has been attacked an
demolished by Mr.. Carey, while tn
authors free trade principles, adopte
only by England whose physical at
Vantages have led her to aspire to b,
come the manufacturer and carrier fc
The world, by a few other countrie
under her influence whose productiy
powers have been destroyed by tn
policy, show how false must be his II,
tiOns of political economy.
His remedy consists substantially /
this-that all taxes should be laid upo
the land, and, not only the generi
government, Ebut all local goverl
ments should be supported therefron
He would demOlish all custom house
(through which foreign producers al
made to pay large share of the g,
penses of our governmenO and tax pr,
duetion at its very source. He woul
go back III far as possible, and, instea
OF taxing the raw material-a ia
which protectionists, and, indeed, a
political economists, consider the wor,
possible policy, he would lay all taxi
upon the land which produces IL
raw material. Such policy would