The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1865-08-05

| OF non producers, tney VIII require tor tiell
support the aid of the swor anG bayonet
because mans natural sense of right revolt:
against the usurpation and injustice OF slct
protection.
But when monetary laws shall sustain o
protect products in the hands Of their produ
GERS, they will of course conform to the natu
raj laws of production, which were ordained
by higher than human power.
The time Is not far distant when this truth
will be known and appreciated by all civil
lied nativna .And the mistaken power Saegdl
might, which has such dominion over man,
| will either wither before the meek and peac-
able power OF right that exists in the natural
laws OF wise and denef1cent Creator, OF
quail and give way before the just and stern
demands OF indignant, wronged and outraged
humanity.
The political and economical advantages Of
| this plan must, / think. commend it to the
patriotic statesman. 1t contempates no
agrarian or other distribution possession of
their present wealth. with the right to in
crease it by the employment of their talents
and means in any useful profession or busi-
ness.
Look only to the future, its objects is to
protect the producers in their rights, and
OF TO retaiiate Tor past inJnricS.
I interest be reduced to a just rate, almost
the entire population of the country will be
employed in some species OF useful industry,
and the laboring classes relieved from the
support f a numerous body, who now con-
trive to live by obtaining the products Of
others toll
1t will remove from the councils Of our ma.
tonal legislature the vexed and disturbing
~, ba riG nd.
its operation, so few will be the interests
needing, and 50 small the amount of protec
ton required, that no serious objection Wi
ever be in.erposed by any section or party.
and the people will regulate th. currency TO
suit themselves without further legislation.
To the philan,hropist it offer. wide and
promising field for benevolent labor. Special
acts of benevUleuce, however pr;liseworthy,
cannot. IT. any considerable degree, relieve
the suGcrings of oppressed humanity 1t is
onlv by establishing just medium of dis,ri-
button 10 capita aud labor that the general
good can be secured :" Let the social posi-
tion of the iahorer TO which he is entitled by
III. ordination of God in the laws OF nature
be ascer;ained ard recognized, and power y
and crime ard most other political and soca.
evils will give place to competency, virtue
and happiness
This is subject to which the christian
cannot be indifferent, or remain an Idle spec
tatOr, though the proposed system doe; not
come fully up TO the demand II the Law OF
Col, it ijapproaches much nearer TO it than the
one now IN op ration, and IS gigantic stride
in the right direction.
IL pom this poirt / offer the whole Of the
testimony Of Moses and the prophets, and of
Christ ani His apostles. and call particular
4r.p 70. I'D
OF truth Ex xxii p: Lev. XIV; 36, 81 /;
d, ut xxii: 10. 20; Prov xviii: 81 Ez
xviii: 8, l3, IL and xxi; u; Neb. Ps.
XIV.
Thus II will be seen that Moses ami the
prophets forbid the Jews taking interest OF
or loauiIg to their brethren for iucrease.-
Christ recognizes the b.nling force OF the
moral law in Mark V: l3, IL, AMI teaches
christians that all mankind are their hr, tn
rem. The following aSages relate 70 the
dealers in money, aud are particularly pppli-
cable 10 the brokers and bankers OF the pres
ent day, Matt. XXI; u John ii /: IA. l6.
Sufficient, think, has been said IN this
and the preceding articles - enable the read
or to compare or contrast the system propcs ID
with the oae now IN operation, and ~ form
an Intelligent Judgment u. tee,r respective
| qualifications aud merits. And IT then re-
| mains but TO show how the proposed plan
may be brought into uae.
For this purpose but little legislation Is
needed beyond clearing the distractions out
of the way by repe .ling the rresen, national
| banking law, and PRINTING the people to
have as much money in the SHAPE OF legal
tender Treasury Notes as in their Judgment
may be necessary TO transact the business o.
the country, ana the enactment of v lse and
Just revenue law.
| | have assumed that the national debt
would rea. Ii three thousand milli1ns Of dol
| lars, aud that when all bank currency, State
! and national, was driven from Circulation, as
| much ) thousand millious OF doll srs oi
| legal teHde. Treasury Notes would Gin tculate
as money and bear no interest, and which
| would have TO be increased trum time 10 time
! in like ratio with the increase in the p .ilon
al wea t.. This would at once ab,ol one
| third OF the national debt. leaving only Two
! thousand III IL: Jns OF dollars to b. prpvided
! for,
, 4 patriotic movement has been started and
| munIiiceut subscriptions made with d view
| to the eXiinguishnient of the national debt,
! There is, however, no reasonable prob ibilty
that this scheme will prove successful. 10
make it so would require donation of Il e
whole debt While the plan here proposed
would require the exchange ofonly twothirds
OF tie amount for stock be ng just Fate
OF interest, say two and halt per cent, pay.
able annually, with the payment of the whole
| of the principal within - years.
Those patriotic men who started the move
ment would under this plan be enabled 10
very largely increase their subscriptions, and
| tens OF thousands of others of our patriotic
cit zens, whose circumstances would not jus.
thy IN eutire donation OF the bonds they hold
could aud would cLeerfully accepted this pro-
| position. and i'll rery brief period of time,
1t no, ali, by far the major part of our debt
Could thus equitabiy be disposed Of; and in
| this way 1t would prove benefit rather than
burden on the wealth producing classes.
Tn: reduction of the rate of interest in
business transactions, and the advantages OF
sound, unifo m and reliable currancy would
very tar exceed the amount of taxes required
under this plan. (For illustration of this
po. Mt see article second.)
Should there be holders Of government Sc
c, rites SO selfish and avariciOus as TO refuse
t, rms so reasonable and just, then Cpngress s
should levy a tax Oh all bonds held by such
parties equal to the difference in the Interest
Oh such bonds and that allowed OH bonds ex-
ch Inged as contemplated by this system.
1t is neither politically nor morally right to
impose onerous and uni ust taxes on the
sj.diers and weaf.h.produclng classe$s, who
| have already sacrificed so much for tbe pre-
servation OF the government, for the sole
benefit of money which has not only been
exempt fro all sacrifice, hut on the con
,rary greatly benefited by the national cal.
amity.
All nations have instituted money with too
great power over labor, and it is now for the
American people, whose government is found
ed OH the principles of equality and freedom
to establish the rights Of labor, which in the
past haye been disregarded, except as they
ministered to the extravaganza and luxury
of u privileged class.