W ts con si's State Agricultural Society. 
271 
There are to-day at least 250,000 people in this country out of 
employment; and what is the reason? The reason is that the rates 
of interest are so high that no legitimate industry will pay; hence 
labor is not emploj^ed, and stagnation in business ensues. We are 
feeding to-day 250,000 people, and will be for three months, when 
if those men were to have employment they would earn $30,000,000 
in that time, and we could have our wealth increased by just that 
sum, while now they must be fed by charity and earn nothing. 
The president says further that we must come down to natural 
conditions. The nearer we come to natural conditions the better. 
[ say if there is any natural, divine, or any other condition that 
is for the benefit of the human family, it is that they should have 
a medium of exchange furnished them by the Government at such 
rate of interest as they can afford to pay; and that should be at 
least no higher than for a series of years arises from the profits of 
the industries of the country. 
General Bintliff, of Janesville. It is an established fact that 
the industries of this country paj r about three and one-third per 
cent; and suppose that we pass a law making that the lawful rate: 
would it affect the business of the country so as to keep the interest 
at that rate? 
Secretary Field. A fixed rate of interest by the Government, and 
so guarded and protected that men couldn’t take more, would cer¬ 
tainly fix it at that rate; and no man should be allowed, under 
heavy penalties, to take more than the legal rates. It can be car¬ 
ried out in that way if in no other, unless the Government will 
loan directly to the people, upon good security, at a fixed, low rate 
of interest, which would accomplish the desired result much more 
effectually. 
President Bascom. The gentlemen have spoken here as if capi¬ 
talists were some peculiarly censurable class. Every man in this 
room is a capitalist to the value of his property. His farm is capi¬ 
tal just as much as a railroad is capital, unless you mean by capita¬ 
list a banker who handles money alone, then are all men of any 
means, capitalists? 
The president of this convention is a capitalist up to the full 
value of his property. Any of you have the opportunity to sell 
your farms for cash, bring the price into market and get ten per 
4 
cent, on your money. But if you were to do it, most of you would 
