The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-12-20

evils. lie does contend. however, tna1 the
foregoing is common sense lnaictmuut
asalns, une phase OF the single goid stand
ara mat can not DC successfully cVntio-
ytrted. But Ike 1t. the problem of the
unemployed and the effect relating thereto
OF mo1ein Invention in this era u latter
day civilization. are also but common sense
Dloblems. ana not loaded except TO the
man or politician who fears tnat the truth
may run counter TO preconce4ved opinions,
itr popular tenets OF his party. 1t is the
common explanation, from the gold men &
toint of view. that the lew prices and lack
( OF employment To-Day are due to the genus
oil invention which mas reyolutionizeu ana
cheapened production by supplanting hand
Labor with machine lanor, variously eSti-
mated at from i've 10 tenfold greater in
! cnlclency.
| This is the argument In nutshell they
! advance to meet the silver mems conten-
| ton that prices have fallen ana LABOR is
idle because OF a scarcity oil money. II
! By reason OF invention mans efficiency Is
| Increased five to tenfold. 1t should be a
! blessing. ana not a curse. as IRON the ar
| gument II appears to be. since it is tna
apology cifcr-d for present conditions. But
common sense should teach anyone better
| than that Five 10 tenfoG greater eni-
| cheney Of labor unior present day cOndi-
! tons means II it means anything that the
| support formerly obtained by the labor of
| five or ten DAYS should now yield its re-
/ ward for the labor of one day. This means
| that the farmer OF today with his I'M
proved self binding harvester doing the
| work of five mou should by working one
| day in five live as sumptuously as when
! he worked every day in the week. But
| does he? Certainly the man who owns tle
| iHdChine should he the beneficiary oil this
! greater efficiency. but is he These are
| Questions that must De answered in the
| NEGATIVE bv anyone At all conVersant with
! the depressed state OF the agricultural iu-'
! dustry. 7 he same is true of every ether
| industry open to free competition in which
hand labor has been supplanted by machine
! labor. II is clear that We must look else
| where for "A cause or else udInit that this
age OF advancement is all damn fool
! iem.'
Let rs investigate. assert that one OF
| the greatest fallacies that has ever been
eNtoIlcd 10 gullible public Is that credit
is what we want THAT great engine OF
| commerce. credit and confidence" such
are some Of the euphonious phrases dnnod
into the ears of the people until they ve-
riy believed no community. State or Ma
! ton could prosper without issuing its in
terest- hearing obligations, and haW king
Them in every money mart OF the coun-
| try.
The West was oyerrun with loan agen-
cies. and Kansas is sample of the wild
! hallucinalion gone 10 seed Believing IN
the fiction that credit is what We want"
she got it as an investment, and pro-
ceedcu 10 mortgage the whole State for
public ana private improvements, and now
what little she and her people have saved
rom the wreck and ruin of foreclosures
| hat in time were inevitable, is due TO an
interposition Of providence in starving a
foreign country for bread, while it gave
kansas and the West an abundance OF that
staple To sell at abnormal prices. God is
sometimes sorry for the FOOLISH and stups
their punishment when their mistakes
have become matter OF history.
But III face Of such warnings we have
yet TO learn--in fact we are without an
Instructor who has the moral courage to
ten the pecplt that every form of in
tvreSt bearing obligations National, state
municipal or private. in addition to the
direct burden they areu pom thep eople
mo must pay them, serve only TO deprcss
the value of all the products of industry.
Tow Is this Does not the man escApe
who rcftans from going in debt? How
can he escape when the interest on these
obligations annually support millions IN
ideness! ldlers are non producers They
are the drones ia the hive who consume
The wealth of those who create it. If those
VINO create wealth must create. not a!ons
ioi their own support but TO- the support
OF others, those who do no necessary ser.
wee in the industrial economy, it is clear
they must work much ardei and suuer
pllNallon themselves, This usurious-
supported class increases as debt increases.
aud thrlVeS on every additional issue 81 |
National. state and municipal bonds with |
MS ACCOMPANIMENT of millions In private |
PAPER. now grown TO such enormous pro.
portions that in this day OF hoastcd civil |
h|ati2n this country's debt Of all kinds is
estimated at nearly two thirds of our Ma |
,,rl
collars. At an average of per cent what |
Is II annually Twenty four hundred mil /
lions OF dollars! At an average OF $500 per |
family how many families would the iu- |
tereSt of this enormous debt support an |
nually in idloness2 Answer. t. 500 900 or |
counting five members to the family. The
enormous army Of - 900 people, the |
equivalent of or more than nc-third OF our
present population must be supported by
these who lahor-the producers of that
great mass Of commodities annually con-
sumed In this country.
u Is The most discouraciug feature of the
times that not solitary statesman OF
prominence or metropolitan daily OF re.
nown lays any special stress on this mcst
vital OF all problems
Passing strange as 1t may he with ali
the history of the past before us boast
ing o, an age of advancement which should
lie ihr aileviaticn OF mankind from, thn
c
oSnl1es liberty only in name. we are fast
approaching crisis that will shake the IN
sIliutlonS OF this government 10 their foun
ualions, The two classes az wealth own
ets ct this country are wagcd against each
oih'r and tie final hattie is fast an
proaching One class are the owners N,
real wealth property ~ every descrin,
non. The other class arr the owners NJ tbe
mere representatives, of weaith-moicy
nuhus and securities Of every description.
The interests Of these two ciasses are d.
'inctly opposed 10 each other. ana if is |,
'dle to sneak of harmony Inc security
noidlus clnsS desires their Investments
VIA" .',,, l"p dollar. to measure thuyi more
ana more 81 the nroperty. commodities ana
products OF The other, or real wealth hold
ING class This means low Prices for All
commodities. property and real wealth
ouet' ~ Ntrikinelv eNemplified in the low
priee level OF today, while bonds and sr.
euuues or every kind teNccpt on watered
SloeNl were never higher United States
ter cent bonds are now l29 10 Tbc,.
were bought by the Morgan .vr5i.,. |