The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1902-05-31

his successes. Whatever one man achieves In
wealth and power, others will desire 10 achieve
and will strive for. The average wealth Of the
individual in this country has increased thou
sand per cent In less than century, and no man
Il yet 40 gorged with possessions, that he dc.
sircs no more II in time the poorest Of the land
live In the luxury in which the richest now live,
there would still be a desire for more wealth.
There are hundreds OF millions Of people In other
lands who have not even commenced to produce
wealth. Not one human being in twenty on this
globe has today what might bc called the reason.
able comforts Of life. II every man on the earth
owned a palace, a yacht, a private car, and all
corresponding comforts and luxuries, he would
still wish more and strive for more, and there
would still be more to gain
The luxury and comfort OF today was not
conceived Of century ago. nor can the human
mind today conceive Of what will be regarded
az the obtainable luxuries and comforts a hun
dred years hence. The desire to possess wealth
and power IL natural instinct, implanted In
mans breast by his Creator. 1t Is this instinct
which brings civilization out OF barbarian. 1t Is
this instinct which moves the civilized world.
TWIN ABsURDruEs.
The difference between periods Of prosperity
and periods Of depression, Is chiefly in the amount
OF constructive enterprise; In other words,
chiefly decrease in the production Of permanent
wealth. such az houses, railways, canals, etc
This decrease is not caused by ovcr.produc.ion
or lack Of power to buy. or lack Of desire to ac.
quire. History shows that the check TO con
struction has always occurred when prices were
abnormally high; prosperity greatest, and stocks
OF materials abnorinully low. Let lis illustrate
this by applying the test to q period rcccn.
that the truth must be plain to every one.
Between September, 1898, and December 1899,
the production OF iron in the United States in
1nul .t -
lions of tons per annum. This enormous increase
Of production caused no accumulation of unsold
iron on the contrary, the stock decreased from
900 to 12i 900 tons. Now note the difference:
During the eleven nonths which followed The
production decreased to a rate OF 1iA million
tons per annrm the stock OF unsold iron in
creased to 10000 tons and Immediately the cry
of ovcr.prcduction was raised all over the co,in
try. What an absurdty. to cry overproduction
of iron when the country was actually producing
less iron by i.joo,o0O tons per annun than it was
one year before, when there no accumula.
tion. Tho accumulation did not occur when pro-.
duction greatest: 1t occurred when produc.
tion had been greatly reduced II was the ,,nler-
production Of constructive enterprises which
caused the accumulation Of iron. as IL did also
the accumulation Of all other constructive mate.
rias. The same truth was still more signally
demonstrated in 1901, when, in this country the
production increased 10 the largest rate ever
known, and stocks of materials decreased to the
smallest amount on record.
Each period marked by the accumulation of un-
sold goods in this country for century, has
been period of small production History sho vs.
no instance in which period of large production
has been marked by the accumulation of unsold
goods. 1t is the unnatural stoppagc Of prodic-
tion, in one or moro branches of industry, which
causes the accumulation of the materials which
would otherwise have been consumed in those
branches OF industry Eight times within seven
ty.siX years this unnatural stoppaee of maximum
production has occurred when finances were most
prosperous, when stocks of materials We're vt the
lowest point, and when prices were abnormally
high.
The small stocks caused the high prices. The
high prices stopped the construction. Tile stop.
page Of construction caused the accumulation Of
materials. Hence each and all of these misior-
tunes could have been prevented, ii tho country
! had simply produced and stored up adequate
| reserve stock of these materials, during the dull
periods which preceded each boom.
Under consumption is another absurdty. Its
literal meaning is loo little destruction of
wealth." A certain amount Of consumption il a
| necessity to the maintenance OF life and TO the
production of other things OF greater value. l'ut
all consumption in of what is necessary to
bring about the most desirable result is waste.
Large sales of products are to be desired, and
large sales arc most certain to be realized when
everyone produces largely. But to waste, is to
destroy buying power
TEMPORARY SURPLUS PRODUCTION.
All great authorities agree that general over
production is an impCssibility, though many ad-
nit that over.producton in one or more articles
frequently occurs. ! take issue with all who
make this admission; claim that these cNcep-
tons are not cases of ''ovcr.production, but