Page:Walter Renton Ingalls - Current Economic Affairs (1924).pdf/72

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58
CURRENT ECONOMIC AFFAIRS

of the people in this country. Such policies would aim at the deflation of labor, and that is what the farmer needs more than anybody else. Such procedure would create disturbances and would have adverse effects upon many industries, wherefore it should be directed cautiously and with great intelligence. Anyone who imagines, however, that the inevitable readjustment of economic equilibrium is going to happen without disturbances and injuries is living in a fool’s paradise. The main things that the farmers ought to avoid are the promotion of financial fallacies and any alliance with town labor. It is the latter which has been living largely on the farmers’ principal. The farmer is economically of the capitalist class and his interest lies wholly with that class, not with wage-earning labor.