The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1888-06-23

While We lay no claim TO being . pro-
lessor Of political economy, yet We do
claim To possess little common sense,
which. together with our experience
teaches us that capital and labor are
inscparable; one is useless without the
other. Were we all as rich IA the Roth
childs we could not live without the
product Of labor. Our Golfers might be
full to Overlooking with gold, but we
could not make single meal off Of It.
On the other hand, the laborer would
starve without the assistance OF CAPT
tai TO recompense him for his labor.
Hence, we believe our readers will agree
with US when we say the two are insep-
arabic. II this Is so, then what is good
for the one must be beneficial to the
other. Admitting that a protective
tariff aids the manufactures, will not
the TACT that the manufactures thus
protected are making money for the
owners, stimulate Others TO engage in
manufacturing articles thus protected,
thereby furnishing labor To the unem-
ployed. The price 81 labor, like every
thing else is governed by the unalter-
able law Of supply and demand. Let
there be scarcity OF laborcrs and the
price Of labor will advance, but let there
be two laborers for every situation and
see how soon the price viii be reduced TO
starvation rates. How, then, can we
better advance the price than by furnish
inc labor To the unemployed? And can
this be done better than by encouraging
the establishment OF manufactures
throughout the length and breadth OF
the land? And can this latter be done
any surer than by affording them pro-
lection against competition from for
eign establishments OF "A similar nature,
where the owners pay only enough TO their
laborers 60 keep soul and body together
Now, as to reducing the surplus and pre-
venting the accumulation OF money IN
the United States treasury, we have a
word or two to say To our readers and
then we viii let the subject drop FOR the
present week. The object Of this cry *
TO make people believe that the money OF
the country is becoming locked up in the
National treasury, and that sooner or
later there will he a financial famine, a
state OF things wewould all regret. Now,
how is this to be prevented, wenaturally
askp How are we to keep plenty OF
money in circulation? The democrats
say: "Why, simply reduce the tariff"
while the republicans say: Keep up the
tariff ON imports and abolish interna-
tionaI revenue taxes" We believe the
republicans are right, and we believe our
readers will agree with us when they have
taken time to consider the matter in all
its details. Suppose we reduce the tariff,
will not the quantities imported be in
creased? And will we not then not only
pay just as much money into the treas
ury, but pay more TO foreign countries
and thus doubly deplete the volume OF
currency in circulation i'm this country?
There are about 100000 wage earn
ers in this country. During the last it's
cal year this country sent over S62S,-
600, 900 to foreign countries for goods
to be imported into this country. II
$500, 900 900 OF this sum had been ex-
pended in this country and divided
among the wage earners there would have
been nearly $40 each. Were the duty
TO be reduced on imported articles would
not the sum sent out OF the country be
trebled? We believe il would and for
that very reason we say increase rather
than diminish the tariff. European
countries are now obliged to buy our
meats, grains and cottons, and return
about as much money To this countrya ms
is sent out OF it, but let the duty be
reduced and the balance OF trade would
soon be in favor OF the foreign countries
to the amount Of $500, 600, 00Operyear.
According TO statistics the currency Of
thiscountry amounts TO 81, les, 000, 900,
divided as follows: gold, 1915, 100000;
silver, S151 900, 900; and paper, $642,-
900, 900. Our readers will readily per-
cieve how easy il is TO diminish the vol
ume ofcurrency when the balance OF trade
is against us. At only $3.50, 000,0 900
per year il would take only five years
TO drain this country clean OF
money. Which, then, is the better course,
to take our chances of its accumulation
in the National treasury, or OF having il
90 To foreign countries and enrich the
people thereof? We put the question to
our readers, and ask them to consider
well and answer with their votes next
November.