The independent. [volume] (Lincoln, Neb.) 1902-1907, 1903-12-17

he independent distinguished
cholar and scientist says: when /
tudy the set of principles set forth
~ that assembly of farmers and rep
OF labor organizations
hat met at Omaha in 1892, it seems to
ne little short of miraculous that
nat body OF men should have formu-
ated such document, containing as
{ does so many fundamental prin-
Iples relating to both government
Ind political economy. In a very
al e measure those principles have
Gen enacted into law, not only by this
C, ernment, but by the governments
II the old world"
How far these principles have been
lpp,ied by the republican party itself,
at first derided them and ap-
,licG every vile epithet that the En-
.lieh language afforded to the men
promulgated them, may be seen
jy the following editorial that ap-
cared last week in the Springfield
"The peoples party of 1892,
which polled over a million votes
in the presidential campaign of
that year, demanded an increase
in the per capita money volume of
the country to $50. 1t was then
only about S24, excluding amounts
held by the United States treas
ury and not in circulation. This
increase was demanded, through
silver reconciliation and paper
issues, for the purpose of reduc-
ing the purchasing power of gold
or advancing commodity prices.
The demand was ridiculed as
about the craziest ever advanced
by political party.
''Still it is a fact that under a
regime Of sound money the coun-
try has been quite rapidly rising
toward the populist demand, and
those men now in power, who had
most to say of the wild idiocy Of
the populists, are the ones who
are foremost in congratulating
the country on the change. 1t is
announced from Washington that
the circulation had risen to $30.21
per capita on December 1, which
is the largest ever known in the
United States. All records have
been broken in this particular.
From 1892 to 1896 there was re-
duction in the per capita circula-
tion from $24.6O to $21, A. 1t rose
steadily to nearly $27 in 1900, to
$28.47 in 1902. and now to above
$50. At the same rate of advance
the circulation will be brought up
to the populist measure of desira-
bility in only about Is years. And
the general effect upon prices and
debts Of this great enlargement in
the circulation relative to popula-
ton cannot be different when
achieved as now through gold
and, bank-note expansion than If
affected bv such means as the pop
ulists mentioned IL years ago.
"At all events, the populists
seem to be satisfied with what is
going on in this particular, as we'll
as those in charge of the national
administration"
These principles have not only
forced their way in government, but
they have forced their acceptance in
the colleges and universities. Pop
ulists have always said that capital
had no rights, that it was inert, in
and could have neither rights
nor suffer wrong-that only men could
have rights or suffer wrong. Now
comes DR.. Albion w. Small. head of
the department of sociology in the
Chicago university, and says:
THE only thing that deserves
financial reward Is labor. Capital,
as such, deserves none. The po-
litical economists long standing
theory concerning the productivity
of capital has been the basis for
an unlimited number of fallacies
in social thinking and adjusting.
The only just basis OF reward Is
production. Capital Is only ma
chine that helps labor in produce
ing, The present legal right that
capital enjoys Is all wrong. Capt.