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

between money and other forms Of cspl-
tai is as distinctly marked and quite as
severe az the conflict between money and
labor, and In that conflict other forms Of
capital suffer fully as much as labor, the
only difference being that they are bet
ter able TO endure losses. Other forms
Of capital must be constantly converted
into money In order to pay wages and to
meet other demands incident to indus
trial enterprises. When the stock Of
money Is shrinking and prices are falling
this conversion can only be made at rates
continually growing more unfavorable,
while at the same time the products Of
the labor for whose wages sacrifices have
been made are also undergoing a shrink
age of money value. Thus loss and sac
ridce are encountered at every turn, and
the owners of other capital than money
shrink from the friction OF exchange,
withdraw from productive enterprises,
and only exchange as much Of their
property for money as will suffice to meet
the necessary expenditures OF living,
which are reduced to the most econom-
ical level, as 1t Is principal and not in
come which Is being consumed. Little
more labor will be employed under these
than is sufficient to sup
port the owners of capital on this pRrsl.
monlous basis, and as q consequence the
labor market will be overstOcked, and the
competition between labOrerS will reduce
wages to o starvation level. But during
this period, when property is being saCri-
feed to meet current necessities, and
laborers are being remitted to idleness
and destitution, money fattens on the
general disaster. Under any money sys-
tenn whatever, labor, money, and other
forms of capital confront each other as
forces, each seeking through a
natural instinct to secure as much az
possible of the others In exchange. These
forces, although always operating against,
are not necessarily inlmical TO or de-
,tructive Of each other. On the contrary,
under just money system, they are not
even harmful to each other. The conflict
between them Is essential to the proper
adjustment and harmonious working of
all parts of the economical machinery.
They are the centrlpetal and centrifugal
forces of the industrial system. The
equilibrium of all things Is maintained
through counterbalances. It Is out Of
he action and counteraction of Sntago-
1iStlc forces that the harmonieS Of the
universe are evolved. But under an un-
Just money system, under system which
through law or accident fails to regulate
The quantity Of money 30 as to preserve
he equilibrium between money and the
)ther factors OF production, the conflict
between money and labor and other
'ormS of capital becomes destructive and
:uinous. 1t is in the shadow of shrink
ng volume of money that disorders social
md political gender and tester, that
organizes, that riots threaten
md destroy, that labor starves, that capl-
;sllSts conspire and workmen combine,
md that the revenues of governments are
liSsipated In the employment Of laborsrs,
DR. In the maintenance Of increased stand
ng armies to overswe them. The peace
'ul conflict which under q just money
Jystem Is continually waged between
money, capital, and labor, and which
ends only to secure the rights Of each,
md ls essential TO the progress Of society,