People's Pilot, Volume 6, Number 44, Rensselaer, Jasper County, 22 April 1897 — THE MONEY QUESTION. [ARTICLE]

THE MONEY QUESTION.

(By. Thos. C. Hodgson.)

I will suppose a case. I will put the whole business of the United States into the hands of three men —A, B and C. A produces all the raw material, B works it up into the finished products, C finds and furnishes the money with which to make the exchanges. They are operating upon a basis which is fair and satisfactory to each. At the end of the first year A reports as follows: “I have this year by the aid of improved machinery and better methods been enabled to produce ten per cent more than last year at the same expense." B makes a similar report, and C reports that he too had found cheaper methods of extracting gold and silver from the ore and had thereby produced about ten per cent more than in former years at no. greatej* expense. This makes an ideal shewing, for money has kept pace with production and prices remain tho same and thereby each of the three gets tho full benefit of his own ingenuity and industry. For a few years this state of things continues, until by and by It dawns upon C that there is no need of his laboring and racking his brain to increase his dollars, because whatever number of them he has must purchase and exchange all that the other men produce, be they more or less. So he slackens his industry while the others keep on. At the next meeting C reports that he took a lay-off last year for the benefit of his health. The other two innocently enough shake their heads ominously and remark privately thnt C will go to tho dogs sure if he neglects his business that way. But will he? Let us see: It is not long before A and B discover that the price of their goods has declined. They mention this strange thing to C. He tells them that they should not be surprised at that because it is tho result of Improved machinery and increased production. This looks reasonable to the two simple men and they go at it again, resolved to make up in increased production what they lost In price. C remains inactive. Result, prices continue to fall, C now being fully assured by experience that he can by contraction of his money transfer all the wealth of the other two men to himself proceeds to withdraw his outstanding paper money. Result, lower prices. He now concludes to lock up his silver money since his gold can Just as well do all the work. Result, prices have gone below the cost of production. Next result, A and B are compelled to borrow of C In order that they may continue business. Next result, lower prices and more debt. Next result, A and B cannot pay their debts, C loses confidence, hence will not lend any more. Next result, A and B are "busted,” and C has all the property and all the money and there is nothing left for A and B except to work for C on Mb own terms. Last result, C ownß A and B and all the property, money, everything; in Bhort., he owns the earth ! Oh, ye debt ridden farmers, ye mortgaged denizens of the cities, ye toilers for the trusts and corporations, read in this little parable your coming doom! These three characters represent the mighty industries of this country. It shows in a way that the simplest mind can grasp it the processes which are and have been at work transferring the wealth of the masses to the pockets of those who manipulate the money of the country, and it shows what will bo the end of the present system if not changed. It shows you why it is that already one-twentieth of one per cent of America’s population own one-hulf of tho wealth of the nation. You have only to follow the Instructions of those who represent C in the parable to come out where A and B did In the end. C is a great financier, he Is the only man worth consulting when an investigation is ordered. He is the only man capable of directing the national finances. He has been a great success, A and B were failures, why shouldn’t C own them? Brethren, the question of successful self-govern-ment is yet to be demonstrated. It 1? a problem not yet solved.