The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1892-01-08
SOME THOUGHTS on MONEY.

do well TO RENE IA Der that the people, j
party IS not an ideal organization from I
the standpoint of nationalisu- It is a |
reform body with its face set against /
trusts, mouopoliess and Wall street, and I
as such commands respect Iu Nassa- I
chusetts the peoples party has gone
farther in the line of uationalizm than I
in any other state Ia its platform NO
less than eight plauizs out OF fourteen
have q natioualistic havor. The west
has not yet reached such high ground
The February meeting AZ St Louis viii
be awaited with deep interest, and IL is
very easy 20 see how Il uuV wise couusela /
prevail aud the line of battle decided
upon is simply of a currency reform
order, that not only Eationalists
but the labor contingent would
look elsewhere for political ahlia-
tions A great party cannot be
built upon the ruias of overdue
mortgages; because, If they were paid
to-day, demoralizing riches and dire
poverty yvguli still exist ia this couu-
try. The people are beginning 70 de-
mand q change in our economic system,
and no party can gain q fOothold Sc
cure enough 20 fight effectively capital
and the cntrenched trusts and indus
tries upon a plank the width Of a
Rreenbaclz dollar. A majority Of the
voters of this country cannot go single
file on so slender a plank across the
abyss of vicious political economy,
which has already placed over hfty per
cent Of the wealth OF ths richest coun-
try on the globe into the hands OF less
than one per cent. OF the population,
which one per cent pays less than
twenty-five per cent Of the taEos-
reformed currency will be a great re-
lief; but IL cannot do IL ALL Let the
west and the south thinIC these things
over in all sobeFness."
The factor usury is responsible for
the accumulation OF wealth il the
hands OF the few. The sting OF wealth
and the power OF money 70 opprsss is
moneys interest drawing attribute
Take away from money the power 90
absorb the earnings OF labor through
the medium OF interest, and all must
work or stGrve. ] quote from the New
Nation:
''Iu 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 and
more swiftly and completely into the
hands of a few score individuals out Of
%, 600, 600 people"
What accompiishes this but usury, or
interest, in its yari us tormsP Give
people free or public money, and the
naturalization Of the money thus ef-
fected, viii give labor in its total prod
of distribution, that must be performed
under naturalization ug we'll as under
individuGlism. Give us free money and
then will to a great extent come to pass
the following eloquent forecast Of the
New Nation:
''Iu the new nation, the debauching
influence OF wealth being banished, and
the people raised 20 a real equality by
equal education and resources, a true
=. liar
will become possible, as it never was
before. For the frat time in history
the world will behold a true republic
rounded. full-orbed, complete repu b.
lie, social, industrial, political"
Now while it may be true, OF at least
posi- BILE, that J, as a nationalist, lay too
much stress on the financial reforms
demanded by the peoples party, the
fact remains that ] consider the pro
! posed chsnRes in our monetary system
as being a far greater progress Ia the
direction Of nationalism than does the
F! writer whose expressions / am critiCis-
ing
shall essay, as briefly as possible, 10
/ indicate my reus0n for believing that a
monetary system that would issue
| money direct 90 the people. at the cost
/ Of issue, would bring about national
/ istic results under an individualistic
! regime Ii may be well to remark at
] the outset that the great majority of
I the rank and 6le OF the peoples party
/ advocate national ownership and
| operation of all lines Of TRANSPORTATION
| aud communication and the municipal
! lization of all natural monOpoliss" iu
| She cities and towns
/ Briefly epitomizcd, nationaIism pro
/ poses that all men shall work, to the
! best of their ability, and be rewarded
/ according to their needs NauOnaiisu
| proposes that all men must work in or,
I der 20 eat, and that all who thus work
| shall receive the results of their labor,
I less the labor cost Of distri button.
! What factors, under the present system
| enable men to live IN idleness aud yet
I absorb a goodly portion Of the wealth
| produced by those who do worl2 The
answer is rent, interest and profit
| (BeavinR "natural nOnopolies" out oi
the question, they not being governed
by compe tition-)
Now, without entering into alenRthy
I dissertation to prove why such ssser
tions are true, shall simply formulate
the following propositions as beilE
basic, immutable and true-
/ First-AH Investments are counted
I good. bad or indifferent, as they returE
| profits less, equal 20. or more than tn,
/ legal current rate OF interest o btuinabl
for money.
6econd-Ths competition OF land
! lords, one with another. has a tendency
20 constantly provide an available sup
{ ply OF buildings at g rental equal 70 oi
l below the level of the prevalent cur
/ rent rate Of interest money
Third-COmpetiti smoug mer
/ chants and manufacturers tends in the
direction OF the Limitation Of profits 70
a per cent equal 20 or less than the
common rate OF interest upon money
Fourth-The rate OF Interest upon
4 money Is taken out of the domain oi
com petition by the operations OF a Gun
ninRly devised monetary system which
I places in the hsuds Of a few corpora
tions the absolute control Of the vol umC
I of money and makes them the sole
I avenue Of issue and the sole srhitsEs-oi
1 the rate of interest to be paid Tor the
I use Of such money
Fifth-Ths peoples party proposes tC
! take away from these corporations and
Z banking Institutions these powers an
I restore them to the people whose pre-
[ rogativs they solely are The peOpl,
/ will then as 6 comm unity, issue direc1
/ 70 themselves as individuals, money 81
! cost OF issue 8uch cost Of issue will al
/ eace become the legal, current and pre-