OVER-PRODUCTION. 513 



means cheap money as measured by the commodities of 

 the country. 



This is an open confession, that commodities measure 

 the value of money, as well as that money measures the 

 value of commodities. Hence, the importance of a fixed 

 relation between the two. 



Things are neither equal or equitable, when the 

 holders of money, and evidences of debt which must be 

 liquidated in money, have exclusive power to control and 

 fix the relation between money, and commodities which 

 must be parted with to secure money to pay those debts. 

 And this condition does and will exist so long as the 

 holders of this indebtedness have control over the issue of 

 the money, or over any considerable portion of it This 

 condition is based upon the inequitable theory, that the 

 creditor has the right to say to his debtor, u You must 

 give me two bushels of wheat, corn, oats, or two pounds 

 of cotton, beef or pork, where you only contracted to pay 

 me one." It may be building up a nation of u grandeur 

 and pomp," and u increasing our credit abroad, n but, it 

 is wrong to root the -grandeur of the nation in the poverty 

 of the people. 



Over-production is impossible so long as the wants of 

 the human family are unsupplied. Rather call it under- 

 consumption. It is the proper term. The product of 

 one thing creates a demand for another, inasmuch as the 

 producer desires to exchange it for something else which 

 he needs. This creates a demand for a medium of ex- 

 change and means of transportation. Medium of exchange 

 and facilities for transportation are the two principal 

 agents of distribution. These agents should exist in pro- 

 portion to production. A proper system of distribution 

 will overcome so-called "over-production." 



It is to these two agents that the future statesman 



