Wisconsin State Agricultural Society. 24f> 
portation, in Iris report to the Senate says: “That a new depart¬ 
ment should be organized, styled the department of industry. This 
bureau should exercise appropriate supervision over the agricultur¬ 
al, manufacturing, mining and commercial interests of the country. 
But the limits assigned to this article will not permit a statement 
of the reasons which demand the creation of a new department. 
Let the first step be taken and its advantages will demonstrate the 
necessity for the more perfect organization of the great industrial 
interests of the nation. The producers and the workingmen of the 
country, who constitute its real wealth and power, will then de¬ 
mand and receive a recognition of their rights at the hands of Con¬ 
gress.” 
When this bureau is established, as I hope it soon will be, its first 
work should be to recommend some feasible plan by which the ag¬ 
gregation of capital by interest shall be controlled, and the great 
producing industries, the real wealth and strength of a people, be 
enabled to obtain money at a rate of interest which will stimulate 
•• 
and encourage these foundation interests, and better the condition 
of those who earn their bread by the sweat of their brow. 
In conclusion. 1. Money being national, its value should be 
controlled by the General Government, and this can only be effect¬ 
ually done by regulating the interest which it may annually accum¬ 
ulate. 
2. Money being instituted to represent property and facilitate 
the exchange of products, it should be based upon propert} r and the 
honor, faith and credit of the government. 
3. The rate of interest determimes the proportion of profits 
which shall be distributed between the two great forces of produc¬ 
tion—labor and capital—and a high rate tends to the accumulation 
in the hands of the few and to deprive those engaged in agriculture 
and the various industrial avocations of a just share arising from 
their labor. 
4. In proportion as interest is decreased, labor and capital are in¬ 
creased; legitimate industries are stimulated, given new life and 
vigor; speculation is checked; labor is fully employed, and the 
country is prosperous. 
5. The amount of money should only be limited by the wants of 
business and the ample security which the property, faith and hon¬ 
or of the Government can give; and the rate of interest should be 
