The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-04-01
A SENSIBLE LETTER.
Money Always at q Premium.

Some of the new readers of The Rep
resentative seem to think the paper too
aggressive Or too radical as they usual
ly say, upon first reading it. This how
ever only lasts week or two as they per-
use it's columns and scan it more closely
they become more and more convinced
that the doctrine therein contained is
nearer to the truth than any thing of
the kind they have ever seen or heard.
And truly that is so. Every succeeding
day brings more evidence of the terrible
condition of the country. The people
are irritated, unrest and mistrust per-
wade every human mind. Commerce is
almost at stand-still. Banks are burst
ing in all directions. Business men al
most without number are passing in
their checks and giving up the ghost,
while thousands more stand on the brink
OF destruction, ready to be precipitated at
any moment
And the condition grows worse day by
day, and hour by hour, without any sign
OF abatement. Occasionally the public
gets a breathing spell. 1t lasts for a
month or two and again it breaks out
anew. Each time the case is aggravated
and intensified. AS time goes on, we tire
of reading, hearing, and seeing those
awful conditions. We have an inherant
desire to push them from us, or to get
away from them. But alas; they are
crowding nearer and nearer, until we
cannot overlook them, nor can we put
them aside. Right here lies one of our
greatest dangers.
When the people begin to get satisfied
"a Il
tate, then it is that the powers of OBJ
preston will hold full sway, and may
God held the people. If indeed they
would be worthy of help in such an event
that of all the brands, of branded brands
the most despicable is that Of willing
slave. The oppressors of the people
know no bounds, short of imperial and
despotic tyranny. This horrible condi-
ton will be reached ere long if we con-
tinue to vote as blind partisans much
longer. We are an intelligent people in
many ways. We have progressed splend-
idly in art, and in science, with the one
exception of the science of government.
Now let us be candid. What is the rea-
son that an otherwise phenomenally in
telligent people have made such mis-
cradle failure of this particular science?
The answer is only too obvious. While
other sciences required but a COMPARE
lively few of the people to bring them
to state of perfection, the science of
popular government, or a government of
and by the people,, required an intelli-
gent people, as a whole, to carry it out
successfully.
Therefore it is an imperative pre-re-
quisitive that we must have we'll edu-
Gated people in this particular science,
or our popular government must go the
way of all earthly things, and that very
soon.
For that reason I would admonish the
reader to listen and weigh we'll what is
said by this fountain of truth, The Rep
resentative. Not only should we do this,
but we should read all kinds of literature
bearing on political economy, and the
science of government. Read them fair
ries that they seek to promlugate. In
this way, and this way only lies the
salvation Of popular government.
There Is power in every country, and
in all lands. that seeks to divest the peo-
pie of their God-given rights. That pow
er is ever eager to get a stronger grasp
on the threats Of the people. 1t is ever
keen and always alert; never missing
an opportunity to prostitute government,
if by SO doing they can advance their
own selfish interests. That power is the
money-power. 1t controls all the great
governments of the world. 1t controls
our own government to an alarming ex-
tent; and, year by year, and day by day,
it is getting a stronger foot-hold.
AS the two old parties grow old they
constantly degenerate, as all political
parties have always done.
Reeking as they are with corruption
today, it is an easy matter for corpora
tions and money-mongers to use them at
will. And they do so very effectually as
the present condition of the country will
bear testimony.
1t seems strange that so many of our
citizens are afraid of expanding the cur
rency. They say Tin substance) that it
would be very bad thing for the coun-
try, If the people were to get better prices
for their labor, and the products Of labor.
Think of the great calamity it wouldd be
to the country, ii the price of oats was
80 cents per bushel, instead of 10; if the
price of wheat was one dollar instead of
fifty cents. If the price of labor was two
dollars per day instead of seventy-five
cents. And everything in proportion?
This is what expanding the currency
means.
But, says the old-party farmer the old
party laborer. and the old-party mer-
chant, want a good dollar, dollar that
will not depreciate: my friends, do not
be armed about the deprecated dollar.
So long as money bears interest, it is
at premium. and above par. If it bears
10 per cent interest it is at premium
Of ten per cent per annum. If it bears
two per cent interest it is at premium
of two per cent per annunn. The one is
as safe as the other; so far as making
sound money, that we hear so much
about. The two per cent premium would
accord nicely with the surplus earnings
of labor, as hown by the labor statistics
The one and only requirement in this
connection is that all currency shall be
full legal tender. And be it remembered
that currency that has not full legal
tender power, or full debt-paying pow
er, is not money. But passes for what
it is worth. Just as the note of an in
dividual would.
The Populists propose to put money
enough in circulation to restore former
prices of commodities, not to flood the
country with worthless currency It is
not given to man to successfully con-
trovert the fact, that while money will
bear interest, it is at premium and