Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1845-07-10

il the accumulation Of property was the |
great end Of society. and forgets that
man has soul, Of high destity and un.
bounded capacity, created Tin him by
Almighty God, which is capable of edu-
cation. Improvement and infnite deyal-
'opement. 80
Verify the time has come for actiou---
for onsuitation---for s.speech and artic-
ulaie inquify.'b Let the system Of
granting fayors 10 capital progress, and
perfect itself, and it will rule US with a
rod of iron. Gifted with the power, Of
"expansionsto>day and contractions to-
morrow, OF keeping lthe market 10
constant fluctuations, there willsbe no
end to its dominion. II will subject us
to compact tyranny, as ioathsome as
that Of Russia. ~ fi
Let labor than stand TO it's right, let it
combine to put down the monstrous ty-
rarny which capital 10 creating. Be cot
deceived by the common place, but illu-
siye arguments about the advantages Of
capital. You will be told that il has
dug your canals and constructed your
railroads. Why has it not paid the
twenty millions which we owe for these
roads and canals. Be not deluded with
the oft repeated but false arguments
about the advantages ofthe credit sys-
tenn. Every credit is a debt and be as
sured that labor must pay that debt, and
capital will not forgive it, or abate a
cent Of the interest until the utmost
farthing is paid. a assl u,
Hear what the eloquent, truth-loving
WILLIAM IEGGET said upon this sub ject
in 1895: s.There are in the United States,
upwards of six hundred banks at this
moment, with an issue Of paper, proba-
bly, amounting to two hundred millions
Of paper money. Who pays the piper
Flor this mode Of dancing? Who pays
the expenses of banking houses, sala-
ries of officers, and other contingencies
Who pays a million and half for the
marble palace in which the great paper
mammon is worshipped in Philadelphias
And who will be obligedto pay all these
through all time TO come. so long as they
. exist, and crush usto the earth? The
peoples; the laboring classes OF the Uni
ted States and their predcomed pos
lteritY. sy naa s@ais a' ~
4 "Let us 60 on. Who has paid the
penalty of all the millions which the fail
ure of hundreds ofpaper banks left un-
redeemed. The peoples; the laborint
|, classes Of the United States. And wh'
is now actually responsible for the tw'
hundred millions Of paper money nov
circulating in every house, and ftou
: haad to hand in every nook and .corne
of the land? Out of whose pockets. ou
ofthe sweat Of whose brow. come th
dividends Of these banks; and whence
will be derived the means Of redeemin
, these two hundred millions,,sif they al
ever redeemed: From the pockets z
! the people; from the sweat Of the labor
! ing. classes. And who will pay both in
+ terest and principal Of these enormou
| issues ofpaper money, resting upon pa
q Der promises2 We answer again, tn
iaboring classes of the United States
|, If this paper is ever redeemed'it must b
! by the profits .ef these institutions
squeezed out Of the people; and fit
!: not, the same people must pay the pen
atty, by losing the whole amount ia cir
cui alton. 1t will die on their hands.
ssThus II is as clear as the light I
. day, that these issues Of paper none
operate as actual debt on the people (
, the United States. They pay the inter
Q est and they must redeem the princlpa
lie il is ever redeemed" Es'} 24c+