The advocate and Topeka tribune., 1892-09-28

performed ls 90 much capital lost forever
70 the lAborer and to society. 1t being
his only capital, his only means Of ex-
lStence, the laborer cannot walt on bet.
ter times for better wages. Absolute
necessity forces him to dispose Of Il on
any terms which the owners of money
may dictate. These are the conditions
which surround the laborer throughout
the commercial world today. The labor
Of the past is enslaving the labor Of che
present AT least that portion Of the
labor OF the past which has been crystal
lized into money Is enabled, through .
shrinkage Of Its volume and while lying
idle in the hands Of its owners, to In
crease its command over present labor
and over all forms of property and TO
transform vast numbers of honest and
industrious workmen INTO trRmps and
beggRrs. These laboFerS must make
their wants conform to their diminished
earnings. They must content them
selves with such things az are absolutely
essential to their existence. Consump-
tion 10 therefore constantly shrinking to-
ward such limits Rs urgent necessities
require. Production, which must be
confined to the limits indicated by con-
sumption, Is constantly tending toward
itS minimum, whereas ltS appl RnCes,
built up under more favorable conditions,
are sufficient to supply the maximum Of
consumption. Thus Idle labor, Idle
money, idle machinery and idle capital
stand facing each other, and the stag
nation spreads wider and wider. The
future affords no hope or prospect Of Inn
provement, except through q change In
financial policies. Prices have been per-
SlStently falling throughout the world
since 1873 and as fast and as far In specie
paying countries as elsewhere. II the
policy OF claiming the industry and COM
merce Of the world TO q single metal DO
persisted in by the United States, Ger
many and ths other European countries
acting in concert with them, money must
still rise In value, and prices must con-
tlnue to fall. The depression In pro-
ductlve industry will become more
deathly, and the number of idle laborers
will indefinitely multiply. The loss
which this country sustsinS by reason Of
the enforced idleness OF three million
persons who, although idle, must still in
some Scanty way be supplied with food,
clothing and shelter, 10 In the aggregate
very great. Iflt be estimated at one dol
lar per day for each laborer, 1t would
amount In two years TO @ sum Suffl-
cient to discharge the national debt.
It would pay the interest, at 5 per
cent. per annum, on $1S,000,O00,0OO.
IL would be q sum more than suE-
ficient to supply anew each year the
circulating medium of the country. Tt
would amount in four years TO a greater
sum than the worlds entire gold pro-
duct has amounted 10 In the last fifty
prolific years. 1t would aggregate in ten
years value far greater than the value
OF the worlds entire product Of both gold
and silver for the last hundred years. It
would amount in four years to q sum
more than sufficient to duplicate and
stock every mile Of railroad now In the
United States. Contrasted with the
startling sum thus annually lost through
the shrinksge Of money and falling
prices, the amount which could by any
possibility be loSt In q generation through