The advocate., 1892-05-18

uebAre W LADOEs
Thirdly reduction of the rate Of
interest to point where capital will no
longer absorb an undue proportion Of
the products Of labor.
The effects of increasing the volume Of
money and reducing the rate Of interest
cannot fail to be beneficial to the wage
worker as the following quotations from
eminent authors will show:
Wages cannot rise but by an increase Of
the aggregate Of the funds employed in hir-
ing laborers or diminution in the number
of competitors for hire.-John Stuart Mill.
Wages are the residue that is left to the
laborers after rent, profits and interest
have been paid.-Henry Thomas Buckle.
The amount OF money saved from the
proposed reduction of interest on real es-
state loans Is handsome sum to be
added to the wage fund Of our state, as
shown by the United States census re-
port. The account stands as follows:
Real estate mortgages. .24S l6G,S2S
Interest ut per cent. $40, ,45l,746
Interest at per cent. 4,S62,9S6
Annual saving for Kansas. ...,..,S Sl4,6ss,8lO
Everyone knows that an increase of
money will stir the energies Of the people
aud promote more enterprise, and be the
means Of employing every idlOr in the
contry.--SenatOr Leland Stanford.
We find that every kingdom into which
money begins to flow in greater abundance
than formerly, everything takes a new face
labor and industry gain life, the merchant
becomes more enterprising, the manufac-
turer more diligent, The good policy Of
the magistrate consists only in keeping it,
if possible, still increasing, because by that
means he keeps alive spirit Of industry in
the nation and increases the stock of labor
in which consists all real waelth.-David
Hume.
All intelligent writer's on currency agree
that when il is decreasing in amount, poverty
and misery must prevail.-William Il.
Crawford, Secretary Of the Treasury, 1920.
European industry had been declining
under the decreasing stock of precious
metals, human industry grew dull under
the paralyzing influences Of declining
profits, and capital absorbed nearly all that
should have been divided between 1t and
labor. But an increase of the precious
metals in such quantity as to check this ten
dency operated as new motive power to
the machinery Of commerce.-R. M. L.
Hunter, in report to the United States
Senate in 1892.
The contraction Of the currency means to
everyone, except capitalist out Of debt or
salaried officer, period Of loss lscitude Of
trade fall of wages, s,disaster and ruin.-Sen-
ator John Sherman in 1869.
The retirement Of the national banking
circulation during the past twelve months
has been per cent. Of the total amount Of
the currency outstanding. There has been
during this period phenominal deprecia
tlon Of the prices of property. There has
been the greatest depreciation of the price
of agricultural products the country has
ever knoWn.-SenatOr Preston B. Plumb,
April, 1888.
We call upon wage workers to take
careful survey Of the conditions now ex-
lsting, and the trend Of events during
the past few years. and we feel confident
they will feel convinced that their cOndI-
ton has been growing worse and worse
under the contraction policy Of the Re-
publican party, and that better times will
surely follow the adoption Of the policy
Of expansion advocated by the Peoples
party. Our battle cry is, more money
and loaa kaxaa moro banaRta and leaa