Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1885-09-17
Thc Rate of Interest.

Ii will not BE- denied that the rate of in
tersst indicates the cost Of living that the
cost of living indicates the price Of labor
and that the price OF labor indicates the ccst
of production. The rule may sometimes be
disturbed BY abnormal conditions-such as
crop failures, war or overtrsding. The
country which has the lower rate of bust
ness interest will drive the country having
the higher rate of business interest out of
the worlds markets, and eventually out Of
It's own domestic markets; il will absorb all
its means Of paying its debts, including
all its specie, than which nothing
can be worse. There is no mode of recOy.
cry from such disaster save, first. by the re.
ducion of the rate of business ints-eS. 10 a
par with low interest countries; CT, secoud.
by the imposition Of such duties on inTo t.
as will raise the cost of the foreigl a., j lie
to the cost OF the domestic article in the
home market. The first of these remedies
must result in in depreciation Of all values,
ard therefore in insolvency, in disemploy-
ment, discomfort and general distIr5snc'.
TIE best cure, therefore, is imposition OF
duties equal to the protection of American
labor, to be repeated just as often as thso-
rists disregard the lessons Of experience in
this respect. The degree of credits bears
relation to the disaster inflicted, and when
the former is large it promotes and increases
the latter to the same or a greater ex-
tent. All the conditions alluded to are
more 10 our disadvantage in this country
than in most of those we trade with, and it
is therefore clear a greater degree of distress
- ,,,-a 60 fN1ln~ kara Nhan alaomhara npHar
these circumstances. We have to-day ABOUT
50. 900, 900 OF people-25. 900, 900 living By
agriculture and 10000, 900 on the earnings
Of personal property invested in general
business, or By their daily labor with head
and hand, or by all combined. The sgri-
cuiturists receive fair pric S for farm pro
ducts, their farms are free from debt, and
no commercial embarrassment denies them
the IecesSsries OF hte. Not as fortunate
are the other 80 O0O, geo, and, consequently
considerate, if not more tender, treatment,
is essential to their success, so far as our
trade and commerce with other nations are
concerned. Seven thousand millions Of
personal property are invested IN
10000 miles Of railroad; S3,09O,OOO,-
OCO in manufactures, as much more in mer-
chsndise. banking and other employments,
al facilitating exchange between producers
and consumers aud all extremely sensitive
to every change of statute aud consequent
disturbance in trade and commerce. Ut
SOOOO.OOO of people 10000 600 are engaged
in manufactures, while as many, or nearly
100000 altogether, are dependent on them
for support. If we are listen to the counsel
and advice given US to abandon the hereto
fore settled policy Of the government IN Ia
vor Of incidental protection and thus enable
the foreigner to glut our markets with the
products OF i'll paid tel, panic and bank
rup'cy are sure to follow.
Speculations OF Philosophers.
II will not DO for any public man to mar
row his mind in such Q momsntous question
"a that which Affects not only the integrity
of the government, but brighieus or dsrkens
the home Of every citizen Just as we shsll
legislate. Speculative philosophers have
contriyed the most fascinating forms Of
government, but wherever they have been
subjected to the touch-stone OF practical
operstion they have gone most shsmetully
TO pieces. 1t viii not do for men to say, u
have laid down this theoretical landmark
and you must not 20 beyond il"
There Is 4 divinity which shapes our ends,
Rough hGw than hoE We VIII.
II Csnute had not moved bis chair upon
the seashore tire incoming tide would have
overwhelmed him and his weak advisers
under the mighty waves of the Sea
We are 10 lorger q few scattered, isolated
| colonies of 3 OOO, coo Of people hugZins the
! coasts from Massachusetts, to Georgia. Il
1880 We we're & united nation Of $4,000 QO