The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1891-11-20

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I ings OF labor, loaded with q commission
I interest such as our currency is now
burdsucd witk, Is an addition to the
] burden Of oppression under which
] labor groanA The popular fuilacy u
I that low wages, cheap production aud
frugal economy are the stepping stons1
I to prosperity and wealth. There never
! was a more peruiclous error and the
reverse "a true High wages, Tap
] pareut), increased cost iu pgoduc-
tion and the expenditure by each
and all OF their full earnings viii not
only provide work for all. but make ali
wealthy in the actual possession Of
wealth A mortgage is not wealth; 10
simply provides q necessity for a trans
[ fer Of wealth The old school OF pniit-
ical economists teach that consumption
! is prcdicatcd on production, instead OF
/ which the reverse Is truei production
{ being predicnted on consumption We
/ produce because we consume A. con-
sumption decreases production also
/ lags- AS consumption increases pro-
duction must also increase, which de-
] crsuses the cost OF products and iu-
crcases the purchasing powerof wages
Profits increase as wages rise, be-
cause certain portion Of all ulouoy
spent stands Tor profits to some one
I Profits decrease when wages fan, be- o.
cause there is less money to spend and
as wages rise and men become dear all
/ species OF wealth become CHEAP { go
easy To obtain. If all spend all tAeg
] earn ali merchants. iobbera, muuufaei-
urers, artisans and mechanics will h8
] fully employed and wages viii rise
Soon the farmer will feel the effect Ia
/ an increased demand and better prices
for his products, and thus, his purch1s-
ing capacity being increased. he huTl
more goods of all KINDS ans
that calls for more laborer5,
whose wages, In being spent call for a
| greater production, until two emplo---
ors hunt for one man willing to hire,
/ insteud of, as now, "a million men vain-
ly seeking for t. chance 20 produce -
wealth But suppose each and all savo
all they can Each dollar saved meur.s
a dollar sale the merchant loses, which
deprives labor OF the work necessary f8
produce a dollars worth of goodIt
which again lessons the merchants
sales. This soon affects the jobb-r
and the manufacturer aud men
are discharged to compete with
those already in the search f1r
employment Wages go down,
business is staHuate and tramra
abound Soon the farmer feels it in
decreased demand and lower prices for
his product, and, unable to realize q
profit he becomes las be has beea fCr
several yeurs) unable % buy Fouail
merchandise and commodities, aud
again more labor Is thrown idle Soon
the merchant must borrow money, and
whose money do you think he bprrowtF
Why the money the frugal, economical
people have saved And who pays tho
iuterestP Nobody but the poor, delu1cd
fools who have saved their money and
given it to these mouCy-mouEera 30
loan out for them Labor pays al
interest, bat the money-mongers aaa
usurers erect palutisI mansions and
massive business blocks with tho
interest realized upon other peoples
money.
what is the remedy?
First-Estu blish the graduated, cumti-
lative tax system This will destroy
all trusts. establish a multiplicity uf
establishments with just a sumcieucY
of capital TO probably operate with
and necassitate the employment OF "a
multitude of men vino are now idle.
Sscond-Ennct into law the Stanford
bill. with clauses added providing f1r
safety fund notes or national savings
bonds. and system of sub-treasuris-
tpoztal savings buuizs2D in the priusip-l
cities and towns. II the interest uFun -
land loaus is two per cent, the iutere-t
upon savings bonds might bs rs
per cent, so that the excess of isi-
tercst paid by tine indiyiduui 90 tae
people, over that paid by the people q
the iudividuat, would pay aid expenses
OF the laud and loan bureau and sul'-
treasury system
This would provide "a currency for
the use of tho people almost entirely
free from the burden of Interest, aud
automatic iu its supply, its volume ez-
banding with the legitimate demands
Of commerce and trade. The nominal
interest paid by the individual for tho
use of money would not enrich any iu-
dividuals, but would simply pay thuaI
expenses Of the peoples banking ~ tGe
TEN and a nominal interest upon taem
nations savings, the desideratum bcIisrz
sIrr= Faa III
posit for the money saved tn th'
Under this system no iudiviAey ia
or corporation could corner at al
money market or enrich thuatloE
selves at the expense OF othry de
while the legal current rate OF routa
terest established being less. than ey iE
profit ultimately aceruing 70 money th'
vested in business there would ut = pc
times be as much money Ia circuiati1cep p
as the business OF the country depe2
mandsd and the people could prohta ga
bIv use. The earnings of money iu u.
use being SO much greater than the
rate of interest paid depgsitors fl5f peg
cent no money would be saved except
for legitimate purposes. and the pso-
Piles wealth would be material instead
Of fictitious Labor would DC fully
employed aud the energies Of the
nation be devoted 20 producing wealth
material wealth The average uus
nual earnings of money would have %
fall 20 less than Is per cent before
that rate OF interest would be any iu-
ducement 20 anyone to save money exc "
cept as fuud for old age or Sickness
or some other such Legitimate pgFpCss.
The dronss and parasites would haVn
TO go % work, as such a system oi
finance as Z have outlined would soou
render banks and loan and trust iI
situations with their promoters aad e.
PIoitsrss useless
Civilization demands an improved
avstem of finance, ia which the circutas-
ing media OGbor checizs) of the paop'e
shall be subject % the peoples demand
for use, free from the God-acCur- ed