Jo.—That was our idea of it, William.
W.—Well since the greater portion of the gold from your mines flows into the towns and chief cities, and to linger there, and since all have the desire to get a share of it in the easiest and quickest manner, and with as little exertion as possible, it is therefore evident that in order to do so, it was necessary to go into the towns and cities after it, was it not?
Jo.—That must be the conclusion.
W.—Now this increased gold circulation had the effect of stimulating all the various industries; this created a demand for labor, raised the price of it, and brought to our shores the surplus laborers of Europe who desired to get their share of it, but this was not all, Jo, for the laborers of the farming districts all over the country rushed into the big cities also, and these are the evil effects produced. Why, you ask? because this concentration of labor from foreign lands and from the agricultural districts into our great cities created an over supply of labor which is the direct cause of all these dissensions among us. Now don’t you have that idea of it, Jo?
Jo.—Well, perhaps you are right, and in your opinion the circulation of silver to an amount equal to gold will remedy the evil, is that it?
W.—Yes, yes, but don’t speak too loud or my associates in the bank over there may overhear our conversation, and censure me for holding opinions and advocating a policy that would be rather detrimental to our business.
Jo.—What! you a banker, William?
W.—Oh, yes, in a small way.
Jo.—Well, then, I can return your compliment by saying that it is very generous in you to advocate a policy for the general good that would be detrimental to your business.
W.—Yes, yes, but I think the time is soon coming when ’twill be necessary to adopt such a policy, for the present gold circulation is bringing into existence such a state of affairs that a reaction must, from the nature of things, take place. But I do not wish you to infer, Jo, that the great abundance of gold that you miners have sent us has been the direct cause of such unnatural conditions; by no means, but it is in the manner of using it. Now you know that if you should spread upon some barren sandy spot certain fertilizing substances, with a little water, and fail to properly prepare and cultivate the ground, that weeds and poisonous plants will come into existence upon the spot, these plants are entirely useless, perhaps, but this fact does not prove that the fertilizing substance was an injury by any means, but only that it was improperly used, and just so it is with gold and silver. These metals are the fertilizers for all human industries, and the various socialist theories, labor organizations, strikes, etc., are the obnoxious weeds brought into existence by its improper use. Now, am I not right, Jo?