The Pamphlet Collection of Sir Robert Stout: Volume 4
Consumption, how created and supplied
Consumption, how created and supplied.
By simply allowing labor the unrestricted use of money to accomplish its exchanges, a universal stimulus will be infused, both to create and to market the product of man's energies. This free supply will cheapen interest, and low interest, by adding to the profits of producers, will lessen that of capital, thereby encouraging the activity of production.
This needed encouragement will cause more acres to be tilled, more metals mined and fashioned, more goods manufactured—in short, will absorb man's wasted faculties in producing wealth and prosperity. Millions of idle people will then be able to earn the page break means to purchase the products, both of machinery and human labor, and generally to supply the increasing necessities of civilization.
This vast stimulus to increased production from the earth, some may call inflation; but an inflation which fosters industry, and creates universal happiness and comfort, by utilizing more largely the crude wealth of the earth, is just the kind of inflation the country requires.
Capital should be the tool of handicraft, not its master. Its value should no longer be gauged by laws which hamper the growth of industry. New wants suggested by discovery and invention beckon us onward to higher civilization, and the circulating medium should no longer be arbitrarily determined by quack theories, but be clothed with an expansive power proportionate to the industrial exigencies of the people, and at interest rates that shall not paralyze national growth!