Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1892-01-13
SOME THOUGHTS ON MONEY.
Nationalistic Results Can Be Brough
About Under an IndividuaIistic Rexime

| Nationalistic Results Can Be Brought
About Under an Individualistic Regime.
From the New Nation of December
8, 1891, clip the following:
The readers of tho New Nation will
do well to remember that the peoples
party is not an ideal organization from
the standpoint of nationalism. It is a
reform body with its face set against
! trusts, monopolies, and Wall street, and
as such commands respect. In Massa-
chusetts the peoples party has gone
farther in the line of nationalism than
in any other state. In it's platform no
less than eight planks out of fourteen
have nationalistic flavor. The west
has not yet reached such high ground.
The February meeting at st. Louis will
be awaited with deep interest. and it is
very easy to see how if unwise counsels
| prevail and the line of battle decided
upon Is simply of a currency reform
order, that not only nationalists
but the labor contingent would
look elsewhere for political affilia-
tiona- A great party cannot be
built upon the ruins of overdue
mortgages; because, if they were paid
| to-day, demoralizing riches and dire
| poverty wouli still exist in this cou>.
try. The people are beginning to de-
mand change in our economic system,
and no party can gain foothold Sc
cure enough to fight effectively capital
and the entrenched trusts and indus
| tries upon a plank the width of a
greenback dollar. A majority of the
voters of this country cannot 60 single
| file on SO slender plank across the
| abyss of a vicious political economy,
which has already placed over fifty pei
cent. of the wealth of the richest coun.
try on the globe into the hands of less
than one per cent. of the population,
| which one per cent paws less than
! twenty-five per cent of the taxes. A
reformed currency will be a great re-
lief; but it cannot do it all. Let the
west and the south think these things
over in all soberness"
The factor usury is responsible for
the accumulation of wealth in the
hands of the few. The sting of wealth
and the power of money to Cypress is
moneys interest drawing attribute.
Take away from money the power to
absorb the earnings of labor through
the medium of interest, and all must
work or starve. / quote from the New
| Nation:
SIN this old nation not only does
wealth devour poverty, but wealth de-
YOURS wealth, and, year by year, the
assets of the nation pass more an6
more swiftly and completely into the
hands of a few score individuals out OF
65. 900, 600 people"
| What accomplishes this but usury, OF
interest. in its vari US tormsp Give q
people free or public money. and the
naturalization of the money, thus ef
fected, will give labor in its total prod.
uct, less the cost in labor Of the service
OF distribution, that must be performed
under naturalization as well as under
| individualism. Give us free money and
then will to a-great extent come to pass
the following eloquent forecast of the
New Nation:
"1n the new nation. the debauchine
influence Of wealth being banished, and
the people raised to real equality by
equal education and resources, a true
democratic and popular government
will become possible, as it never was
the world will behold true republic,
rounded, full-orbed, complete-a repub.
Lie, social, industrial, political"
Now while it may be true, or at least
| possible, that /, as a nationalist lay too
| much stress on the financial reforms
demanded by the peoples party, the
fact remains that l consider the pro.
| posed changes in our monetary system
as being far greater progress in the
direction of nationalism than does the
writer whose expressions am CRITICS
ing.
/ shall essay, as briefly as possible. to
indicate my reason for believing that a
monetary system that would issue
money direct to the people, at the cost
| OF issue, would bring about national
| istic results under an individualistic
regime. 1t may be well to remark at
the outset that the great majority of
the rank and file of the peoples party
advocate national ownership and
operation of ali lines of transportation
and communication and the municipa-
lization of all natural monopolies" in
| the cities and towns.
Briefly epitomized, nationalism pro-
poses that all men shall work, to the
best Of their ability, and be rewarded
according to their needs. Nationalism
proposes that all men must work in Or
der to eat, and that all who thus worl,
shall receive the results of their labo.,
less the labor cost of distribution.
| What factors, under the present system
enable men to live in idleness and vet
| absorb goodly portion of the wealth
produced by those who do work? The
answer is rent, interest and profit
! Ieaving natural monopolies" out OF
the question, they not being governed
by competition.)
Now, without entering into alengthy
dissertation to prove why such asser
tions are true, / shall simply formulate
the following propositions as being
basic, immutable and true
First-All investments are counted
good, bad or indifferent, as they return
profits less, equal to. or more than the
legal current rate of interest obtainable
| for money.
Second-The competition of land
lords. one with another, has tendency
to constantly provide an available sup
ply of buildings at a rental equal to OF
below the level of the prevalent cur
rent rate of interest money.
| Third-Competition among mer
chants and manufacturers tends in the
direction of the limitation of profits tc
per cent equal to or less than the
common rate of interest upon money.
Fourth-The rate of interest upor
money is taken out of the domain OF
/ competition by the operations of cul.
ningly devised monetary system whics
| places in the hands of few corpora
tions the absolute control of the volume
of money and makes them the S. le
avenue of issue and the sole arbiters u
the rate of interest to be paid for the
use of such money.
Fifth-The peoples party proposes tc
take away from these corporat; ons and
banking Institutions these powers aai
A