Evening star., 1933-11-07
Land Monopoly Real
Cause of Depression
To the Editor OF The Star;

To the Editor OF The Star:
Gold is the most convenient standard
Of value. It is likely to remain the
basis for trading, regardless of embar-
goes and restraint on its actual move
ment. The commodity dollar can be
made the basis for domestic trading,
but it would be unnecessarily clumsy.
Violent and demoralizing fiuctuation IN
commodity prices can be avoided while
retaining the gold standard.
Varying efficiency IN production Of
commodities and service makes impos-
sible normal price for anything. Mod
crate fuctuation In price Is the auto
matte safety valve for regulation Of
production; ductuation becomes violent
only when required change of occupa-
ton is unnaturally restricted. Price is
determined by supply and demand;
even slightest fluctuation IN price Will
attract or repel producers. II choice
OF occupation Is free the migration of
producers will automatically hold prices
within narrow limits; bonds, mortgages
and contracts, all debts, will remain
nearly constant IN value.
Take the case of wheat In 1880 for
example. When the price started
down the logical action would have
been for many wheat farmers to aban-
don acreage, turning to other pursuits;
they would have done so If there had
not been unnatural restriction on choice
OF Jobs. 1t was the same all through
agriculture and industry.
Along about 1926 all activity seemed
fairly stabilized. Average workers re-
ceiVed wages or salaries with which
they could have gone on forever; con-
timing inUnnfinY1 TOD 90
vide an ever-mounting standard of liv-
ing with ever-reduced hours of labor.
But why did not the pretty vision
come true? The answer Is simple. Most
OF the land area and natural resources
OF this country being owned" or
monopoliZed by minority of people.
the landless majority of necessity paws
whatever the monopolists choose to de-
mand for the opportunity to live and
produce. There are some arbitrary and
psychological restrictions on the amount
the monopolists can collect, which re-
Strlctions hold payments somewhat be-
low the theoretical limit Of workers
capacity to pay; workers do retain some
surplus production. However. each resi-
dent of the United States pays an
average of $40 per year to the land
owning group for monopoly; this Is
over and above all interest on improve
ments and cost of service furnished by
land owners. This payment might not
be unbearable if it remained constant
and without cumulative effect. but some
humans are too graSping and almost all
can be discouraged by injustice.
In the year 1925 like any boom or
upgrade year, land owners, not con-
tent with modest monopoly profits. de-
manded more unearned income from
their monopoly. For a time invention
kept pace with monopoly-profit in
crease, so that workers could still live
and prosper, but eventually somebody
cracked when the monopolists' demands
had gained on invention. In short.
monopoly prices of industrial and agri-
cultural land prevented farmers and
other producers from turning to higher
paid occupations, so they remained
where they were to produce an unsaI-
able surplus. The surplus In turn de-
pressed the price Of commodities still
more, with a whole train of disastrous
results.
Unless monopolists are kicked out. by
one method or another, no good will
come either with paper or commodity
dollar or gold. W. c. DUNCAN.