The labor world. [volume] (Duluth, Minn.) 1896-current, 1899-08-26
GREATEST OF ALL.
The Money Trust the Most Prominent Evil
That Exists in the Industrial World.
BY PAUL WILLIAMS,

| are obliged to sell for any price the cal
get In due time, when great scarcity
causes prices 10 advance, in every product
The rich man. then the possessor of the
property, sells at the advanced price, and
after a few such periods of buying ald
selling becomes immensely wealthy"
'Why does not the poor man take al:
vantage of the contraction and expansion
to enrich himself also?" -,ag...
Because, as already explained, Mr..
Williams, lack of employment places him
a: Disadvantage He cannot obtain the
money with which to speculate, hence he
is alt the mercy of the rich man, Wlo
steadily gets richer while the poor steadily
get poorer @ r. Z
Eyes but where is the evidence of COM
ing changer fzES. .a
During these long periods of idle1,ess
and destitution, through which the labor
ing. classes have passed, particularly in The
last six years. there has been, unfortunate
", continual vilifcation Of the
rich. The people have come to
think that they are oppressed
by the wealthy classes and that they vii,
be justified in acts of vandalism. This
feeling has been intensified by the steady
TRADE, against trusts in which the news
papers have indulged. . q: 5s.. 81
Certainly, Doctor, there is no occa sion
for that feeling now. It is admitted that Inc
country has not been so prosperous as
now for many years. t.5s. s$S:sz
II Yes, Mr.. Williams, it would seem liza.
the laboring people ought to be conteaMel,
bu. you see they are not Never in the
history of the country. has there been sc
many strikes and labor disturbances as
row. This restlessness on bheS part of the
working classes, will he greatly i1lcre lsea
in the coming year by political haran[gues,
IN which the Speaker will seek to in.l,i-
sence the public mind against the rich
men who are at the head of the. trustssa and
combines &. .is Isg III 55S5tf
Will mot the coming trust convention,
IN which an effort will be made to break
up trusts do something towards helping
the cause of the poorer classes?,'
Nonsense. Such a convention is only a
farce. Who can suppose for a moment
that the Standard Oil company will be
Drought down to a point that competition
asainti them will spring up on ali
sides? Who can for sone. II m o-
n:ent, suppose, that 4. the 4 great Fed
ersel Steel company will disintegrate anSl
80 back to. the sep;*ra te institutions from
which it sprung Who can for an :insto,,t
s SUPPOSE that the tobacco trust, and num-
erous other trusts, will take back tnsir
tra 5's'; yseling bins men and go into com 7
.peetllng again with each other.
because a. convention is called Isl
proclaim against them? Think of tne hua-
dreds of millions sof dollars at command
70 prolong litigation and buy up all that
is necessary to success }.s
You convey the impression, Doc or,
that lack Of money circulation is at ths
bottom of all this trouble What is he
cause of the failure of money to regular
ly circulate p e.gs 43t
AN immense money trust. a combine that
controls all money, contracting or exnan,1-
ing III as they may choose, $;sys
= What does the government do about
!t?'"'S .s3s5s q. s. q a. Ii5
:ss The government is allowed to determine
what Shall be money and TO make 1t, but
beyond that point the government is not
allowed to go.'''as =. s3t 5I II. }5 z .s5
Can't the government distribute their
own money which they make ~ 3Ss;s. 5si.
NO, Sir. Not "a dollar to the common
people. The government may pay its .,l1,.
pioyes but otherwise it is required to give
all the paper money which is issued is
private individuals and corporations who
manipulate this money as they choose.
They may loan=it to whom they choose or
they may pack 1t away, make it scarce
and refuse to loan 1t to; anybody. They
generally do. distribute it, however, to
their wealthy patrons, and these persons
that are in the favor of the combine, ap-
pointed by the government to give OUT
money, can have the tremendous adyaii-
tagei which comes from having an abuni1-
aHce of money" t- l55i. II.
E why don't the governments establish
central repositories for their money and
pay 1t out to anybody who will give
ample securdty?'' 5.3
Because, Mr.. Williams. the government :
is bound hand and foot by this immense
trust which is the father Of all other
trusts -r
How father Of all other trusts?"
Because this great combine spread cut
al over the country receives at its several
branches, the money of the people on .:e-
pcsit. For these deposits it gives no Sc
crr1ty. The confidence reDosed In this
combine is frequently destroyed by the
failure of these institutions that contain
tho peoples money. When many of these
branches fail, as they did in 1898, rhe
people hide their money, circulation stops,
business shuts down, and all the evils
follow which come from stopping the cir
culation Of money