Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1897-07-08
why the WAYS OF Prosperity Has Not
BIatsrlalized.

direction OF State socialism"
why the WAYS OF Prosperity Has Not
BIaterIaiized.
This question is being earnestly ask
ed by millions of suffering people who
confidently accepted reelection
promises, honestly believing the cleo
ton of Mr.. Mckinley would immedi-
ately bring to them the much needed
prosperity. Their disappointed hopes
very naturally suggest two questions:
Why this failure? and, When will pros
perity Gomez
The first question is easily answered
Mr., Mckinley aud his platform pledg-
ed the continuance of the gold stand
ard, F." meaning thereby scarce and high
priced dollars. He also pledged that
the people should pay higher taxes, to
be paid in these high-priced dollars.
These pledges are being fulfilled to the
letter, and the inevitable continuation
of hard times is the necessary result.
In this we have the potent reason why
prosperity does not materialiae.
The answer to the second question
When will prosperity COMETS clearly
suggested in the causes leading up to
the present business depression. 1t is
now powerfully realized in the present
policy of Mr.. Mckinley and his admin
istration.
To bring about prosperity you must
reverse the policy. To be specific we
will suggest details, viz, lower the
cost of dollars c., advance the price
OF labor and its products, and create a
demand for them,
TO do this we must provide volume
of lawful money large enough to ex-
change the product of labor for cash.
To make this possible the volume of
property in the nation must be taken
rs the only limit, and the one factor in
regulating the volume of our money
Let us go back to the relations exist
ing between the volume of property
and volume of money in the Northern
States at the close of the war of the
rebellion Why? Because at that
time the people were mainly out of
debt ard doing business with cash, All
classes were prosperous. Every step
sine. taken changing the relation ex
isting between the total volume of
property and total the volume of mon
ey, has, by decreasing the latter, fore
ed the people into debt in an attempt
to carry on the exchanges necessary to
a growing civilization and a conversion
of the products of labor into the ne
cessties of our present way of living
This decrease in the volume of mon
ey and increase in volume of property
has forced people to increase their
debts. We have gone on this way de-
creasing our volume Of money, incfeas.
ing our volume Of property, and as a
consequence our burden Of debt has
grown larger year by year with its
consequent suffering to the great
masses Of people. In the proportion
of this increasg of debt we see the cor
responding increase in the cost of the
dollars in which it has to be paid, I'M
til we have reached the limit where
there must be change, or universe
bankruptcy must ensue.s
To restore the cash system of ex-
changes and abolish the present debts
and debt system, we must increase our
money volume beyond the limits of
gold; first by restoring silver to its
old place and full money power; then
add to tho metal money such volume of
government paper money, with full |
legal tender power, us will at all times
maintain steady ratio between the
total volume of money and the total
volume of property.
If the volume of metal money for
any reason decreases, increase the vol
ume of paper money, and il it increas-
es, decrease the paper money; but let
us see to it that our total circulation
of money shall increase IN the same
ratio as our property volume increases.
Then no matter how many laborers, or
how rapidly they NAV create property,
we will always have a ready cash mar
ket for the same, and have at hand the
medium of exchange necessary for its
conversion. We will then need only to
properly direct the productive labor
Of the nation to make every citizen
and prosperous.
Money in its legitimate use and of
fee is but an instrument of account, to
be used as a legal certificate in the
hands of the holder that he has parted {
with something of value. To protect
The holders'of such certificates they
must at all times maintain a uniform
lverage value or purchasing power.
This can be done with full justice to :
III by regulating the total volume of
money by the total volume of prop :
irty. a