The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1890-01-17
cent. for sixty days, I per cent. for

-'SI Ccut. pei duHuul IOT WV W J Cates
and 10 on. That is to say, money is
worth whatever interest rate the state
f the money market will justify. The
'alue of money. then, is estimated by
What can be obtained for its use, with
ne understanding always that the
Principal, or an equivalent amount,
must be returned at the end of the
rm for which it was borrowed.
Money is no exception to the general
lie for determining market values
Whatever can be obtained for an arti.
Gle in the market, that is its market
value, and the demand depends large.
ly on the amount and distribution oftbe
supply. A short supply and an active
demand enhance prices, not because
any moral principle is involved, but
simply because the seller can bank on
the necessities of the buyer-he can
make money out Of short market.
The necessity of ono is the advantage
of another. And as to commodities
i'm general, there is no objection
to this rule of trade. 1t is conceded on
all sides that the rule is reasonabls and
that its operation tends to maintain
commercial equilibrium. But how
would it work as to things which the
people have set apart for their COM
mon use and benefit? Some things
may be classified, as the industries;
one class of persons work on farms,
another class in shops and factories, q
third 60 to mining, fourth engage in
transportation, and thus all the work.
ers are employed. There are some
things, however, that are common to
all people. in which they are all alike
interested, not in the same degree but
for the same reason. As to such mat
tiers it is better that the work be done
by the people for themselves in their
own way through some agent special
ly appointed and kept constantly un.
der surveillance of public authority.
All the people of a city are interested
in water and light, and though in diff.
ferent degrees the nature of the case
will not admit of determinations. One
person may need large quantities of
water, another not nearly 80 much,
but no account is taken of that in the
determination to supply the city with
water. 1t is much cheaper, much
more convenient and mnch better in
every way that the city should supply
the water and because the people are
all alike interested. II people were
limited in their correspondence to pri.
vate mail carriers, the expense would
be enormous, and the inconvenience
intolerable. Carrying the mails rap
idly, promptly and safely is public
need, therefore the people see to it
themselves for themselves; the gov
eminent does the work and the
poor and rich fare alike. One
hundred stamps cost the purchaser
one hundred times as much as one
stamp of the same class costs its pur-
chaser. The government is now try
ing to equalize the cost Of transporta-
ton Of property over railroads aud
canals and or rivers, so that there
shall be no unjust or unnecessary dis
in favor of or against par
ticular persons or places, and there lie
an almost universal demand for legis.
lation prohibiting tn e free carriage of
passen gers. A Senate COM
mittee has just been investigating
charges against meat packers that they
are defrauding the public in a matter
in which all the people are interested.
Suits have been brought against COM
binations which unnecessarily and un-
justly make living more costly. There
is clearer perception now than ever
before of the need Of the public man.
agement, at all events public control
of every matter which directly con-
Germs all the people alike. And this |
comes logically to free people where
from the beginning the poor man en-
joyed political and civil rights equal i
with the rich. Latterly the concen.
tratIon of large Interests have increas-
ed the number and the power of rich |
men, and the def handling of money
by its owners, with the dangerous de-
velopment of stock and grain gambling
have impressed the masses of the PEG.
pie with the need of legislative inter.
ference in behalf of the many as
against the few in this particular dir
ection.
While all the people-this includes
every individual person-are interest
ed alike in the use of money, that por-
ton of it which is used for lending Oh
interest belongs to only few persons,
and that few control the money mar.
Sets of the country, always interested
n making money scarce and dear. SO
that the demand will be greater and
therefore rates OF interes. higher. 10
,all in one half the money of the coun-
try would not only increase interest
rates so per GEN., but it would force
price of commodities down so per cent.
Owners of money would gain while
owners of other kinds of property
would lose. This principle has been
demonstrated many times in our his
tory and never more plainly than
within a few years last past. The