Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1899-04-05
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| ~ HAhoSophS VI NiOuSSs
Mr.. George Wilson, of Lexington,
Mo-, although banker, and very sue
cessful one, is also an earnest and in
telligent advocate of free silver. His
book, Financial Philosophy" is one Of
the best contributions to this subject
that has been published The fact that
Mr.. Wilson is highly educated and in
telligent, and also noted for his liberal
ity and benevolence, explains why he
has no patience with that selfish abb
surdity called the single gold standard.
Mr.. Wilson advances an idea that will
seem novel to many, namely, that mon
ey. the common medium of exchange,
being In fact public property, ought not
to be taxed. In other words, tax on
that which belongs to all the people Is
self-imposed tribute, and at the same
time unproductive and hurtful, Great
Ing result similar to that produced by
the man who tried to lift himself over
the fence by Juggling at his own sus-
penders. The suggestion points to-
ward the single tax theory, which we
fear Is founded on fallacy. But 1t
embraces also principle that we be-
lieve to be sound. That is to say, money
being creature of the public and be-
longing to the people, no individual
should be permitted to loan or hire 1t
out to other individuals. This Is the
germ of the Mosaic law, which was
founded on wisdom and justice. The
lending of money by individuals
amounts to the same thing as one
member of family charging the rest a
rental for the use of the comforts that
belong to all. The Government, which
Is all the people acting in concert, is,
or ought to be, the only agency author
lied to lend money, and all private
lending ought to be prohibited by law.
II this were the rule the interest or rent
paid by individuals to the Government
for the use of the common medium Of
exchange would pay all the public ex-
penses and create that philosophers
dream of a government without taxa
ton. Is not this more substantial
idea than the single tax plan of laying
all the burdens Of government on that
element which Is necessary to the exist
ence of every creature. Is it not also
part of the principle suggested by
friend Wilson? And, Furthermore, can
we not trace the unpopularity Of the
money-lending business referred to in
Mr.. Wilson's letter, to the fact that it
is an evil calling, prohibited by the law
of the scripture, and regulated and cir
cumscribed by the statutes of every
civilized nation? But, 1t will be asked,
would you take away the opportunity
Of those who are dependent on the in
terest Of their money for living, in
many instances widows and orphans
who cannot invest their means in bust
ness? The writer remembers that
similar argument was used in support
of the Righteousness of human slavery,
but 1t did not prevail. Freedom over
came all argument and all fallacy, and
slavery disappeared. Human freedom
Is also involved in this question Of the
lending Of money, and we believe 1t
will be settled right, just as slavery
was. With its settlement will come pub
lie ownership of railroads and other
utilities, based on guaranteed bonds
that will afford safer and more GER
tain income for invested capital than
security on individual property can
possibly MISUNDERSTANDING.