The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-08-20
A NEW PHILOSOPHY OF WEALTH.

When General ALGER explained to the
Grand Army of the Republic that the re-
cent pension bills would increase the pen
sion expenditures to Sl5OOC0,OOO annually,
he said: LET US be just to our law makers
even if they have not given US all we
asked.''
ms naturally arouses the curiosity of
most people to know how much the Grand
Army Of the Republic had asked. Under
the new law there have already been filed
with the commissioner over three hundred
thousand applications for pension, and addi-
tional ones are coming in at the rate of
10000 day. If the applicant can show
that he was honorably discharged, that he
served ninety days, and that he is unable
to earn support, he will receive pension.
1t seems to us that the soldiers should not
this
The vast sum that will hereafter be paid
IN pensions to the old soldiers, leads a Re-
publican paper to congratulate the country
upon the fact that this money will be spent
among the people by the pensioners, and
will not be diverted into foreign chan
nels." 1t says. 'But this money drawn
from the people is returned again to the
people in ever new and vital distribution
This vast number of millions will be put
into and kept in circulation every year as
long as the law operates
This is consoling. TIE say that the taxes
taken from the sixty millions and given to
the old soldiers, keeps money in circula-
ton, and is therefore desirable on that ac-
count, is rather odd conception of a tinan-
clal benefit to the nation
Suppose, for the sake of illustration, that
a large part of the money collected in taxes
from the people of this city were given to
the policemen as extra salaries. That
would certainly keep the money in circula
ton, that is, passing from the taxpayers to
the policemen, and the policemen would
certalnly spend the money. Would the city
become richer by having the money spent!
Certainly not. The wealth of the city de
ponds upon what is saved. If everybody
should act upon the theory that it is OILY
necessary to spend money in order to in
crease wealth, we should soon become bank
rupt. There would soon be no money saved
with which TO pay wages, and the wage
earners would suffer 1t is only because
some men save money and use it in hiring
laborers that industry goes on at all as i,
does at present
II the money had never been collected il
would have been spent, just as truly as il
will be by turning it over to the pension
ers. The latter will spend it, most proba
bly,, in supplying the immediate wants Of
their families. The people from whom il
was collected would have spent it. and al
least portion of it would have been spent
in such way as TO produce more
wealth. There is no danger that the money
will not be spent. The only question i.
how will it be spent, and by whoml w,
have no objections to the old soldiers spend
ing their share of it; but we do decidedly
disagree with the philosophy which assert.
that the nation will be more prosperous be
cause it has class of men whom it can in
duce to spend a portion of the taxes tina
have been co llected.
If one member of a family should seiz
and spend on himself all the money tina
came into the house, and then tell the res
of the family that this made no difference
to them, inasmuch as he was member O
the family and spent the money in the cit,
in which they lived, the case would b.
hardly more ridiculous than to maintain
that the people at large are enriched b,
paying taxes in order that some one els
may spend the money and thus keep 1t IL
circulation.