Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1891-09-25
How The ToiIer Roots the bin.

From 1880 to 1890 the wealth OF this
country increased 80 per cent. 1t in
creased from $44 ZOO, GOO, 900 to $3.50, o0O,-
100000. This increase was the result OF
labor. 1t was produced by the toiler of
the country
But what became of this increasef A
thoughtful writer in the San francisco
Argonaut proceeds to answer the aues-
ton. Careful estimates show that on
January l, 1890, of the S66. 600. 600, 600
of wealth in the United States, 10000
eading capitalists possessed $50. $780,
DOC, 900, leaving 800. $50. coo, 600 for the
remaining 63.O0O.000 inhabitants. 1t
will be seen from these figures that al
though our farmers, artisans and other
toilers produced the increase of S22 00n.-
100000 few capitalists absorbed most
of it. II this thing Is 10 go on, in about
25 years few thousand plutocrats will
practically own the whole country.
The toilers of the country produce all
that we eat, drink and wear in a year,
and in addition add per cent annually
to our wealth. But the capitalists own
the factories, machinery and appliances
used by laboring men. Capital should
obtain fair share of the increase of
wealth. As it is, it takes the entire in
crease, and exacts so much that the la
borers have 10 mortgage their little prop,
erty and live on the proceeds. This
true statement is emphasized by the Keo
kuk Constitution Democrat. During
the past 10 years the Capitalists lived in
luxury at the expense of the toilers. Dur
ing the same period our farmers and
other workers lived very plainly, although
they increased the wealth of tie country
so per cent. Now, simple justice de-
mands that the increase should be equal.
ly divided between the two classes.
There is something wrong somewhere.
In fact, nearly every thing is wrong. Nc.
Kinleyism, mouOpolies, plutocratic leg
islstion, goldbug contraction of the cur,
rency and our extravagant late congress
are building up the classes and pulling
down the masses. The San Francisco
Argonaut writer SAYS;
Had the interest on money been at the
rate Of per cent, and had capitalists
been content with profits of per cent,
capital would have swallowed up the en-
tire surplus Of S22, 000 100000, and
would have left the farmers and other
workers in precisely the same financial
condition in which they were at the be-
ginning of 1880. Capital, however. WAS
not content with profits of cent. and
the result was that the surplus wealth
created during the decade was not sul1i =
Gent to meet their unjust demands. and
the workers of the country had 10 mort
gage their property to pay them the ex-
cess. The legal rate of interest in the
different states and territories ranges
from to ~ per cent; the average rate
for the whole union being about seven
per cent. Louisiana is the only state in
which the legal rate Is lower than six
per cent. The rate allowed by contract
is, in a number of states, unlimited.
During the year 1890, the dividend psid
by the national banks of the United
States amounted to SO per cent of the
capital invested. If the average rate of
profits on capital throughout the coun-
try be less than per cent, the state legis-
lators are guilty of intolerable tyranny in
compelling the unfortunate debtors to
pay that amount. The average legal rate
of interest for the whole country is : per
cent, and the state Legislatures have no
right to force debtors TO pay more for the
used. The fact that the average legal
rate is per cent shows that, in the esti>
nation of our state legislators, the aver
age profits on capital amount TO Z per
cent.
This makes the whole business plain
enough for even the wayfsring man TO
understand. If the annual increase of
the wealth of the country produced by
labor is only per cent, and capital con-
tinues to make an average profit of per
cent throughout the United States, then
the jig is up, and in another generation
the masses will be no better off than the
old serfs in Russia ard the poems in
Mexico.
But the question is, what are the peo-
pie going to do about it?
The democratic party and the farmers
alliance together have it in their power to
do great deal to relieve the situation of
its worst features. Their proposed re-
form will not abolish poverty and make
every man well to do. but their proposed
restoration of an honest government, just
taxation, and financial system inde-
pendent of Wall street will give every
industrious, thrifty toiier at least fight
ing chance, and that will be something
infinitely better than he enjoys now.
1t is reform or ruin; there is no middle
ground.