The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1891-12-10
How G0verement Creates q Demand
for Money without Providing for
its issue in Adequate Volume.
Published in Pamphlet Form by Jas.
d. Holden, Emporia, Kansas.
DOLLARS.

DOLLARS.
The benefits promised the Ameri-
can people by the discovery Of these
marvellous mines can hardly be esti-
mated. The continued free coinage
Of silver meant a rapid increase in the
volume Of money. 1t meant IN
creased prices for all kinds of CON-
modities. It meant increased wages
for oil kinds Of labor. It meant in
creased prosperity for all producing
classes. These results were sure to
follow q material increase in the vol
ume Of money, while the debt paying
power Of the dollar would not be af-
fected by the increased quantity.
But, rs the benefits which would thus
insure to the 95 per cent Of the popu-
lation. would result in correspond
ing shrinkage in the value, or pur-
chasing power OF the wealth Of CAPT.
talists, lowing to the peculiar char
acter of their wealth-how to pres.
erve the advantages they had SO
long enjoyed, became the problem
they were called upon to solve. The
obstacle to be overcome seemed un-
surInountable; but that they were as
usual equal to the emergency, is
shown by the laInentable fact that
on the 18th day Of February 1873, =
majority Of the peoples representa-
tives in Congress were induced to
enact law which DEMONETIzED, and
PROHIBITED THE FURTHER FREE
COINAGE OF SILVER.
Whether the act of 1892, which con-
fined the volume of money to the
free coinage Of the precious metals
when they were scarce; or the act of
1873, which demonetized and pro-
hibited the further free coinage OF
silver when that metal became plenti-
full; or the Senate's amendment to the
Legal Tender Act Of 1862, by which
the Government was made to dis
honor its own issue that demand
might be created for the metallic
money Of the capitalists; or the disas-
trous consequences to the producing
classes of the act of January 1915
known as the Resumption Act-and
the kindred legislation by which the
circulating medium was contracted
from volume Of over 1900 million
dollars in 1866, to less than 700 mil
lions in 1877 were the result of the
honest ignorance, or the studied
treachery of the Congressional ma
jorities responsible for their passage,
the ruinous effect Of such legislation
is to-day plainly discernible.
That Agriculture-the industry in
which are engaged nearly one-haH
the American peoples to-day un-
profitable; that the wealth producing
farm is mortgaged; that good crops
no longer bring good times; that the
producer Of wealth is . borrower;
that the wealthiest classes are NON
PRODUCERS; is the result, mot of
natural causes,-but Of Congressional
legislation. whereby Congress whose
duty is to provide an adequate sup
ply Of money, at just rate of in
terest, fails to perform that duty; but
instead, provides only . restricted
volume, in the interests OF capitalists,
by means Of which its most beneficial
function,-that Of facilitating the ex-
change Of the surplus product of one
mans labor, for that OF another,-is
subordinated to its most dangerous
and delnoralizing function,-that Of
its power to accumulate value by in
terest.
While wealth is the product of la
Dor; money is q product-not of labor
BUT OF LEGIsLATIoN; and only when
1t is supplied by government in am
pie volume, does it benefit u people.
Restrict its volume, and unjust rates
Of interest are possible. Through un-
just rates Of interest only, the few
live upon the labor of the many: the
producer is Invested of the fruits Of
his labor; and the Capitalization Of
wealth is possible.
The following table compiled by
the Librarian of Congress, forcibly
illustrates the accnmulative power OF
different rates of interest:
ONE DOLLAR loaned for 100 years,
!! with the interest collected annually,
] and added to the principal,