The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1889-05-09

labor? This cannot be. because the
capacity to labor does not vary to a
great extent in individuals, and ma
ture gives to each, except in rare III
stances. the power to labor for liv-
ing. 1t must exist, therefore, in the
other two factors-land and money.
That land monopoly exists, and that
its influences are evil cannot be de-
MED. But we find men who have
land and even those who have it un-
cannot make living
therefrom: some even large land
holders. sinking in debt. Land mo-
nopoly cannot, then, at present be
the prime cause of the social trouble,
and therefore the money system
must be the greatest source Of mo-
nopoly. This monopoly is govern
ment created and government sus
tanned. 1t is not because this man.
or those few men, have SO much
money, but because those millions
have no money at all. 1t is because
the amount Of money is restricted
below the proper limit that an arti-
ficially-created and government-sus-
tanned monopoly is given to the few
men who possess money III large
amounts. This government-creat
money monopoly, is creating land
lnonopolies transportation monopo-
lies. manufacturing and all kinds OF
invasive and repressive monopolies.
Henry Clews. the Wall street banker,
in his book, Twenty eight Years in
Wall street. gives a conversation
that occurred at dinner in London
between Mr.. Gladstone and Mr.
Chauncy Depew Of New York, in
which Mr.. Gladstone is reported rs
saying:
Il understand you have IA man in
your country who is worth 800, 600.
900, and it is all in property which
he can convert mt will into cash.
The government ought to seize his
property and take it sway from him.
as it is too dangerous a power for
any one man to have. Surprising
he should convert his property into
money and lock it up, it would make
a panic in America which would ex-
tend to this country and every other
part of the world, and be great in.
jury to large number of innocent
people"
The government of this country
has been, by its financial policy. play
ing into the hands of these who wish
ed to precipitate a panic. But why il
the possession Of 800, 600, 900 by one
man dangerous to the country. Sim
ply because it is SO large III proper
ton to the actual amount Of total
circulation. just as the total circu
lation is increased would the danger
decrease--and vice versa. During
the last campaign the politicians Oh
one side acclaimed against the posi-
BILE dangers to result from keeping
something like $lOO.OOO.OOO surplu.
revenue out of circulation. VIII.
was itdangerous? Because it was sc
large III proportion to the amount il
circulation. Think of surplus ol
less than 81, so per capita as liable tc
cause a panic. Think how close upon
actual financial famine the govern
ment keeps the people. Wealth III
creasing in the country. but as rapid
" concentrating in the hands of the
few who hold or control the money
medium. An English exchange calls
attention to the fact that all the
money in the world today would not
purchase one third of the railroads
True. and America has more rail.
roads than the balance Of the worl.!
altogether, and consequently the
money OF this country would pur'
chase even Il smaller proportion Of
its railroads. And every new rail
road built relatively decreases that
proportion. Every new railroad built
must have money to run it, and that
money must come from some other
business, consequently makes money
comparatively scarcer throughout
the country unless the circulation
is increased in proper and relative
proportion. Every new railroad con
structed, every new enterprise start
ed, every increase in the aggregate
wealth of the country tends to run
down prices unless there is ii relative
increase in the circulating medium.
Running down pr;ces is confiscatins
the property OF the debtor ior .ae
creditor-the debtors are the great
masses. the creditors are the few.
Since the war the people have been
rapidly paying the national debt,
principal and interest, each year,
and yet the principal remaining un-
Eaid and the interest thereon, are Il
greater burden today than We're the
whole debt and acclu;Ag interest
then when the war closed. And it
must be remembered that the nation
al debt is only u trifle in comparison
with the entire debts of the country.
The same principle applies to all OF
them. The debtors have been thus
robbed of thousands of millions of
dollars--practically coniiscated for
the benefit of the creditors. In this
way the government has robbed the
producers OF more money in the
past twenty-five years than has been
stolen and plundered by all the high
wayimen, sneak thieves, embezzlers
and defaulters Of the country com
bined in the last half century. The
result il the workers are degraded by
poverty and the producers paralyzed
by debt: business il Il chronic, semi
erased, body-and-soul destroying
..,,rrla with hank runfcv tho rcr.