“My dear friend,” said Kendrick, “this question of a proper circulating medium has bothered philosophers from the foundation of the world, and we shall not be likely to settle it in ten minutes on a street corner.” Kendrick had good reasons for being puzzled. As a banker he was getting into deep water; but no alarm had been sounded yet. As he took the doctor’s arm and walked toward the new bridge, the doctor said: “Nothing tends more directly to the demoralization of the people than a fluctuating currency. It upsets all our ideas of probity. A man buys, for example, a quantity of cotton to-day for a thousand dollars, payable in three months. In three months gold has ‘gone up,’ as they say, and instead of paying one thousand, he has to pay eleven or twelve hundred. You see the result is disgust, distrust, and loss of nice moral balance. A state of things making an inflated currency possible, creates our stock and gold gamblers—makes men see little harm in influencing Congress to favor great monopolies that oppress and rob the people. From this, only one step to corrupting Congressmen with shares in enterprises which they have then a direct interest in favoring. Now what must be the effect of this on the laboring people, who are beginning to see where they stand? I tell you they are everywhere being roused to desperation. Go into any of the labor organizations here, and listen to what is openly said. If you don’t come away with a vivid impression that this deep muttering foretells a coming storm, all I can say is, you can’t read the signs of the times.” “I’ve thought of all this, doctor, but what can we do? Leave off banking and all other business, and go to building social palaces? I think I’ll wait and see how this one works after a few years. How do you know these workingmen will be better satisfied? They want luxury and idleness. That’s what they want.” “Well, Kendrick, you might sympathize with them a little in that. But that’s all rot. The workman will be well pleased when he has a good home, which he can purchase with his rent; when he has real luxuries for himself and family; when he sees his children being nobly educated; and above all, when he knows he will have a pleasant home for his old age, or if he dies before that, that his wife and children will be well provided for. To not believe that, is to believe in the natural depravity of the human heart.” “Well, I swear, the longer I live the more doubts I have on that point,” said Kendrick, rather ambiguously.