Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1897-09-07
TALKS DIFFERENT NOW.

that the cause of hard times is lack
Of primary money. "And that the OBJ
vious remedy is a sufficient volume Of
primary money to effect needed ex-
changes without the employment of an
undue amount of Credit
This is what we crazy populists have
preached year in and year out. And
now the leading Republican paper
in the northwest endorses this
so-called economic heresay in toto.
Will our republican friends pleace
read the following editorial from Min
neapolis Tribune, Sept. 2nd,- and then
tell us wherein we have been wrong in
preaching the same identical doctrine
in the past:
"Speaker Thomas B. Reed has an
article in the Illustrated American
upon hard times and their cause. He
says, in effect, that society has oscil-
lated from the earliest times between
adversely and prosperity; that the
seven fat and seven lean kline of
Pharaoh's dream were true symbols
with origin in actual events, and that
the altern alton of good time and hard
times ante-date the pyramids.' He
urges that the depression through
which our nation has recently passed
is due to want of thrift and too much
extravaganza when times were good.
BY our extravagent ways, he adds.
we honeycomb what we have. By and
by confidence gets broken up and the
clock strikes for settlement
''There is no doubt that Mr.. Reed is
historically correct in his statement
about the alienation of good and bad
times; but his contention that depres-
sion are due to want of thrift on the
part of the people and too much ex-
travagance in expenditure, will hardly
bear the test of philosophic investiga-
ton. 1t is we'll known that with the
existing means of production, aided by
labor saving machinery, and excess OF
everything needed for human con
sumption can be produced in the world.
Hard times are frequently attributed to
over production. In the most stag
nant periods since 1893 it is known
that immense crops have been piled up
in elevators and warehouses and these,
together with an over-supply ofmanu-
featured products, have weighed down
the markets. The low prices that have
prev allied furnished sufficient evidence
that the buying power of the. people
was insufficient to absorb the supplies.
The American people as whole never
lacked thrift; and during our hard
times the thrifty have suffered along
with the small percentage Of idle and
worthless. AS for extravaganza, it
has hardly been fault with any very
large number of people. Economy
and cutting down of expenditures has
been the rule with all classes, except
perhaps the multi-millionaires.
IF all the working People-in which
we include producers Of all kinds
work hard from morning till night;
producing to the utmost; and if every
body prunes his expenses or consump-
tion of products to the lowest notch in
the practice Of thrift where is that
going to land us? Why, in a quag-
mire of stagnation caused by so-called
over production.
''Mr. Reed would have diagnosed
the case more correctly if he had said
that hard times we're caused by under
consumption, or an insufficient distri-
button of products. During the pre-
valence of the grinding years of pow
erty for the masses of the people the
natural resources of the country have
been no less than they formerly were.
The earth has still brought forth her
increase; the raw material for all kinds
of manufacturers has existed in count
less profusion; the power of the wind,
the water fall and the coal mine has
been available to drive machinery
the muscles and brains of workers
were ready and willing to perform
their allotted tasks. Their stagnation
was clearly due not to voluntary idle.
ness, not to lack of food, clothing and
the material for shelter, but to the
fact that the material for human com
fort could not be properly distributed
and placed where it would do most
good. And the lack. of distribution
was owing. to the limited supply of the
tool Of exchange money.
":''It has been admitted that there was
as much money in the country as ever
or at least as in the prosperous
years Immediately preceding; but il
was locked UP in treasury and bank
vaults and in private hiding places,
and not brought into full active use.
] PM