The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1884-08-14
PHILADELPHIA SOCIAL SCI.
ENCE ASSOCIATION.
A Plea for Better Distribution.
NY cHAs. N. Du PUY.

NY cHAs. NJ. Du PUY.
Continued from last aceck.)
1t has been computed that the per-
manent wealth or the world does not
annually increase faster than about
three per centum. Now II property
Of all kinds IL mortgaged close 10 its
real value, aud pays to investors I'm
average OF say 5 per cent annual in
tercst, II Is evident that as protective
industry Is paying away more than
1t earns, 1t Is getting poorer while
dividends and interest are taking
too large q share Of its profits.
Economists tell us that the solvent
debts Of the world, during the past
two decades, have doubled from
thirteen billions up TO twenty-six
billions or dollars. At AL average
only Of 4 per cent. per annum inter-
est on this debt, the world pays to
the creditor class in annual interest
500 millions OF dollars more than it
paid twenty years ago. Whit shall
be said Of the enormous increase Of
the principal Of this debt, which has
doubled within twenty years! May
not the Jodsted strides OF this Nine
tecnth Century rhich hare been 50
largely tostered BY debt securities, be
too fast, at too heary an expense,
aud eren greater than posteritv rul
be able to pay'
How long produ ,tive industry can
withstand this growing drain upon
it, We may not exactly know, but the
ratio OF increasing debt Is SO very
great. the climax may not be fur off.
SO long rs society moves smoothly
in the even tenor OF its way, and no
very serious disturbance occurs to
the laws Of productive energy, and
us rills are always flowing back from
interest payments to feed and nour-
ish the roots Of production, these
bonded obligations may be measur-
ed by the rapidity uith rhich future
interest and Income pay alents out
run the profits of production. A
protracted reign OF pence in the
world may extend this limit, or u
complication or national cmbroil-
ments-by shaking confidence in all
bonded dehts--miy hasten the eli
max. However distant 1t may be, 1t
is unwise to conceal from ourselves,
that seeds are scattered in many di-
rections, which although now slum-
boring, may ut any moment De
warmed into energetic life to hasten
the end.
Foremost among these slumbcring
seeds, most likely, may be the dis
content growing out OF the too limit
ed earnings Of all classes of useful
mental and physical producers,
which thus contracts the ability to
produce and to consume productions
through defective distribution. This
undue limitation OF purchasing pow
er and interchange, fixes IN undue
limit to the growth Of wealth, be.
cause wealth is only created in pro-
portion to mental and physical nc.
tivity, and not by the grow tn OF in.
tercst and income securities. Ii.
repeat, the dOubling mp of mortgdg.
cs on production is likely TO contia-
ne at the present ratio, IL is more rap.
id than ,realth is cIrned, it Is more
rapid than the increase OF popu!a-
ton. and hence sooner or later come
to IN end. Is 1t not better to in.
crease the earning power Of all those
who are usefully employed in pro.
ducing either with hand or brain
even at the expense OF less income
from securities, rather than univeI.
sal discomfort shall unite them
against the profits Of all interest
which is the real foundation of their
TROUBLES?
/ ITO be continued merit 1reek,)