The advocate and Topeka tribune., 1893-12-20

1
people. The scarcity OF money am ing
them, the want of capital, the fact that
when they can borrow at all they must
nay high interest, is not the cause OF
their poverty, it is the effect The cause
is az clear az IN the case Of chRttel slaves.
Il is because all that they can make,
save just enough to support life wh9n
times are good, is taken from them as
rent, and is carried of to the owners OF
the land who live across the Irish sea,
and few of whom have ever set foot in
Ireland. Even the contributions Of
charity to feed these people when times
are hard 20 ultimately to add to the land
lords rent! Even in the great Irish
famine, wbsn people were dying with
hunger, and the world was called on to
contFibuts food, grain and cattle, butter,
eggs, fab and vegetables were still pass.
ing in q constant stream out OF Ireland
to Dsy rent!
Now, the growth of tenancy, ths in
crease Of it's first form, the mortgage,
shows that the greater part Of our c0un-
try and especially such sections as Kan
sas is steadily and rapidly passing into
the conditions of Ireland. The cause is
not in the m Inetsry system; 1t is in the
land system. The complaints OF the
scarcity Of money are, more bitter 10 the
west than in the east. WhyP Because
the land Of the west is largely owned in
the east, and conseq uently the west
must constantly pay tribute to the east.
Scarcity OF money is only the popular
form OF expressing what is really scarcity
of the things that m 1ney exchanges for.
There is constant scarcity Of money
among the tenement rent payers in the
east side OF New York city. There is no
scarcity of money among the rent re-
celvers in the palaces OF the west side.
Here is the process that has gone on
and is still going on in our settlement.
The speculstor goes ahead of the settler,
and gets hold Of land which ths growth
, I population or even the prospect Of the
growth OF population will make Valu'
able. When the settler comes, he must
become tenant, giving up q great part
Of the produce Of mis- labor for the priVi-
lege Of exsrting that labor, or what is
more common, at first, in thus country,
he buys on q mortgage, or eXpending his
little capital IN paying for his lSnd is
compelled or tempted to mortgage for
the purpose Of working or buying more
land that he too may profit in the
great gamble. Now those who get tn
lions share in the profits Of this great
speculation are necessarily those who
have means to invest. They are to be
found 10 the older sections and in the
great cities, because these are the pleas
enter places for men Of means to live,
and those who grow rich in thu newer
sections, or at least those who Inherit
their wealth inevitably drift there. Thus
q constant and increasing tribute passes
from the west TO the east, and from the
United States to Europe, for not only
are great bodies Of American land owned
in Europe, not only do the daughters of
our great millionsires seek titled ALI
anoes, hut great numbers OF American
landlords go to Europe to live, as the
Astnrs have gone. Deprived by this
drain Of its natural capital, the west
must borrow Of the aast, and the east to
q large extent, OF Europe, for railroads
and other improvements, and thus what
is the original source Of the drain
assumes the form Of interest borrowed
money and profits on productive invest
ments. Can you change this by any
change in money-the mere counter in
exchanged
Nothing is wilder in theory, more in
consistent with facts, than the notion
that interest depends on the volume OF
money. Interest would exist il We did
not use money at all, and would not be
lesssned (nor was it lessensd) were
money Rs abundant as continental shin
plasters" at the close of the revolution,
or confederate notes Rt the south at the
close of the civil war. Interest depends
nm khn hamnnd and annnlY OF oRnitRl.