The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-07-31

nobody to use it. Did you know that?
Why, my friend Harvey and all of you
men who think that way, as usual, get
the cart before the horse. 1t is not an
abundance of money that makes bust
ness active: it is business that makes
money active in this world of ours.
And until you can comprehend that
point, Brother Harvey, you will never
understand this financial question at
all.
Bankers Not ScanPs
Mr.. Harvey carries the idea that the
banks are constantly fleeing the people
and that they have their harvest when
the people are in distress. Why, there
never was a greater fa1lacy taught to
the American people. Bankers never
make money when money is scarce,
never make money in a panic, never
make a great deal of money when in
terest is high Bankers make their
money when business is active, when
interest is low, when their deposits are
all the while increasing, when the peo-
pie have confidence and there is some
thing to loan. He upbraided the banks
because they loaned part of their de-
posits and made interest on them.
Why, bank-the first great effect it
produces in a community is to set the
money to being used a second time. The
great bulk of the money OF this country
is used that could not be used at all
under the Old system or without banks.
Men would have to have it in their
drawers, in their pockets, in their tills,
have to keep it for emergencies. Now
they deposit it in the banks.
He seems to think the bank does
nothing but just gobble interest. The
banks pay interest to depositors in most
instances, in all savings bank instan-
ces, and they make the money of de-
positors earn an enormous sum, mill
lions upon millions each year, that they
would never get a cent for but for the
banks investing it ard paying them in
terest on these deposits. They can't
pay interest on deposits if they don't
get some interest themselves
Consequences of Lateness.
Mr.. Harvey-At the conclusion of this
debate Mr.. Horn and I have $500 words
each at our disposal, to write at our
leisure, within seven days after the
debate, to sum up the debate, and any
Ih4AS III MI. ludI L QO
not reply to to-day I will attend to in
that summary, because there is only
short time left to us, and I want to
answer some matters that have been
introduced into this debate at the ear
| lier stages.
L want to speak a few moments on the
proposition that wages have increased.
Laborers are of two classes. One class
is the kind that produce something with
their labor, and depend on selling what
| they produce to receive pay for their
labor. Under this class come all our
farmers. If one of them produces with
his labor 100 bushels of wheat and gets
/ $50 for it, then $50 is the price of his
! labor. But if he sells the 100 bushels
! of wheat for 800, then he has received
double the pay he did formerly. We
/ have seen how the farmer loses; also
( to get pay for their labor. This has dis
/ couraged those vocations and men and
women have drifted to the cities. The
| cities have proportionately outgrown
! the country in population. With the
unemployed comes underconsumption.
/ The trend of population should be to
the country. To secure this there must
be an inducement; farming must be
made profitable. You must advance
prices so that the farmer can pay his
taxes more easily, so he can sell his
produce for more money. The rural
population will thus increase. The far
mer can live on what he raises. This
| makes him Independent, and an indie
pendent citizen is a good citizen and is
no mans slave. He is patriot, and
such men make a strong government.
Make Wage Farmers Happy.
Our national policy should cultivate
the dignity Of the country home Pros
perity and love of home among the
producers of the soil build up individual
and national character. This policy will
draw away from the ranks of the wage
earners, give them happy homes, and
leave the supply of wage-earners less
than the demand. And this will raise
the price of wage-earners' wages. The
man who now has work or a situation
and selfshly reasons that he benefits
himself by maintaining a dear dollar
is neither broad nor humane He is as.
sisting in wrecking his country, and il
may be too late to remedy the error
when he, too, is without employment.
Mr.. Horr-I have already called tn,
attention of the country to the fact tina
the little boy Coin is absolutely withou
knowledge of mathematics or correc
information concerning wealth, proper
ty or money. In his book the boy says
and Mr.. Harvey in his debate repeat
the assertion, that foreigners own rea
estate, personal property, bonds, stock
and mortgages in the United States t
the amount Of ten thousand million dol
lars.
I now state that there is no shadoy
of authority for such a statement, an,
when Mr.. Harvey reads my statemen
as to the short time debts he don't ge
ont of his tronhle because the debts