Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1903-08-29

was precipitated by the gold bugs,
who had made up their minds to force
the retirement of silver. They took
advantage Of the strained conditions
Of finances caused by the heavy draft
of gold to meet the requirements Of
European bankers who had got
pinched by the failures in Argentine
and Australia. The Brightness" OF
the money market caused by these
conditions was pointed out as re.
suit of the continued purchase Of
silver. The scare which was intended
for congress spread to the people and
caused heavy runs on the banks, with
the inevitable result failures in bust
ness because the banks had no money
to advance to manufacturers until
they could convert their wares into
cash. After each and every one OF
these crisis there has been a natural
or artificial increase of the circulat.
Ing medium, and as soon as that has
come BUSINESS has revived. In. view
OF these facts It seems only fair to draw
the conclusion that It Is: our faulty
dhancial system that causes these de-
vhstating disturbances In the busi-
ness $world. In fact,. all authorities
on finance in this country are agreed
that there is danger in our present
system. The only difference is as to
the remedy. The bankers want the
entire control of the money issue,
with some provisions to make it safe.
The peoples party believe In govern
ment money and government savings
banks, to provide sufficient money
for business and provide safe place
of deposit so that people will not need
to become alarmed and withdraw
their money at the time when it is
most needed in business.
The money system proposed by
friend Thompson would certainly pro-
vide for sufficient increase of the
money volume, tor all the savings
OF the people each year would be
added to the money volume. AS the
farmers, for instance, are to earn six
times as much per q year under
Socialism as they do now they would
soon amass very large fortunes in
wage checks. AS they cannot invest
it in lands they will be forced to lay
up the wage checks, and in a few
years we would have so much money
that there would not be enough ma
terial produced to measure up with it.
The inevitable result would be that
the value of the wage checks would
fall.
There is one thing, however, that I
would like to have explained. II the
farmer now gets only one. seventh OF
the value of what he produces, who
gets the other six-sevenths? There is
not enough wealth anywhere in the
United States to account for the lost
stx-sevenths. I am afraid that in his
zeal friend Thompson gets q little
reckless with his figures. If the far.
mer is to get six times more than he
does now will not somebody have to
pay the sudden increase in value OF
agricultural products? And as there
will be no other classee than farmers
and wage workers, will not the latter
be somewhat alarmed by reading the
splendid promises made to the farm.
ers?
In conclusion let me say that it was
unnecessary for friend Thompson to
assure me that what he has written
comes from his very heart. I have
never for a moment doubted that from
the first time saw him. He is one Of
those altruistic enthusiasts who are
burning with zeal to reform humanity
at one sweep and establish paradise
on earth. Unfortunately he 2forgets
that humanity is not ready to sprou'
wings yet for while. He forgets thai
every appeal that he makes is really
to the sel6shness in man. He shows
each worker that he is not getting his
share of what he produces. He aim;
to build up class hatred .(class con
sciouness he calls it) and then expects
on that foundation to build up q per
feet state. He forgets that the wage
workers are just as tyrannous wher
they have the power as any capitalist
can be. I am certain that If he rea
lized these things he would quit talk
ing of complete reform and aim te
help along such reforms as humanity
is ripe for. 1t is necessary for the re
former to be little in the lead of tht
masses, occupying positions somewha