The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1866-06-30

the people made Congress little refractory,
which with the exigencies of the government
and the rather gloom prospe cts of the
speedy suppression of the rebellion induced
| the bankocracy to permit the passage OF
the measure, conditioned however that they
should not be made legal tender in pay
ment of custom duties and interest on the
public debt; and that the secretary should
be authorized to issue gold interest bearing
legal tenders. This gave them power to
control the value Of gold and regulate the
interest on the public debt.
| They went on demanding increased rates
and warning on the credit Of the government
until tha interest on the government securi-
ties averages full nine per cent. When ii
became evident that the rebellion would be
overthrown at an early day, they brought
forward their bank scheme, and forced it
through Congress under the pressure of a
, =, i,.tcc-,sssity"
What that necessity was the people are
ignorant Of to this day. The soldiers in che
army, and all disinterested, patriotic citizens
1t home, were entirely satisfied with legal
tenders, and preferred them to bank notes
issued under any system.
The urgen, reasons which existed for the
passage Of this law must then be looked for
in its provisions. 1t clothes the Secretary
Of the Treasury with absolute power over
the money interest Of the nation, without
check or restraint from any other depart
ment OF the government Ii authorizes the
stockholders TO receive two interests on their
investment. One gold interest on the bonds
deposited, fequal to nine per cent. in the
money Of trade, and another of ten per
cent. on the notes the bankers receive from
the government
1t virtually exempts the bonds and circu-
latlon from taxes. 1t affords the bankers
an opportunity Of stealing thirty to fifty mil
hons dollars annually OF the peoples money,
| authorized by the Law to be deposited in
.heir banks an opportunity they will hardly
fail TO improve Ii affords the bankers the
means to make such division of the products
OF labor, between capital and labor, as their
ayarice may dictate, and the power TO rob
the wealth producing classes at pleasure
The national wild cat banks are now, or
will be, located at nearly every village and
SToss road, forming a complete system OF
financial espll mage throughout the length
and breadth Of the land
Inc law contains no provisions against
members of Congress and others filling
places OF official trust, holding stocks in
these associations, and without doubt poll
ticians will be found occupying these places
who are base enough to increase their gains
through this means The law has been
amended or a new one passed at each session
OK Congress, since It's enactment, and in
every instance il has been made more bene-
ficial to the banker and more oppressive On
the taxpayers
They come now TO demand that the leRai
tenders which sustained the credit of the
goaernment IN the darkest hours Of its trials
and which cost the people nothing, shall be
Withdrawn from circulation to make room
for their fallacious promises 10 pay, which
cost The taxpayers nine per cent and such
IS the absolute power OF bankers and finan-
ciers over Congress that unless the people
manifest their decided disapprobatlon, this
unjust and unreasonable demand will be ac-
ceded to.
They have 50 formed the revenue laws as
to exempt money or non-producing capital
from all participation in the burdens of gov
ernment. They have created n multitude Of
new Offices, and sent swarms of hungry off
cials among the industrial classes, clothed
with authority and power to pry into each
individuals private business affairs, and thus
harrass the people and eat out their sub
stance
On motion, it was unanimously
ResotDed, That we pledge our united and
untiring efforts for the maintenance of prin-
ciples above set forth, regardless ui present
party affiliations and ties; that we viii sup
port no man for any Office of honor, profit
or trust, who does not unqnalifedly endorse
them, and who will Tot exert his influence
for the emancipation Of the industrial
classes in every department Of useful occu-
patton, from the thraldom imposed on them
by our unjust monetary system.
On motion Of L. E-DeWolf, it was
Res0lred, That we cordially invite all
classes or associations Of laboring men to
unite with us in rescuing the republic from
the all-controlling and all-devouring power
of monopoly.
ResotDed, That we recommend the organ
ization Of county and township anti-mono-
poly societies throughout the State, and that
a committee of three be appointed by the
chair, whose duty it shall be to draw up a
full and complete form Of organization in
harmony with the doctrines set forth in the
declaration Of principles adopted at this
meeting Chair appointed L. r. DeWolf, Of
DuPage County; E. w. BakeweII, Of Nc
Lean County A. Campbell, Of LaSalle
County.
ResolDsd, That there. be an Executive
Committee Of seven appointed, whose dnty
shall be to call meetings Of the organization,
and to give notice of the time anu place OF
holding such meetings by publication or
otherwise. Chair appointed Messrs. W. II.
Clark, David Richey and John Fl. Hosford
Of LaSalle County; B. P. Babcock and M.
B. Patty, Of Livingstone County; E. W.
Bakewell and III. J. Schaeffer, Of Mclean
County. DIR. Wolley was added as chair
man.
Resclre7, That the secretary furnish
copy Of the proceedings Of this meeting to
the WoRKINGMAN's ADVOCATE and Chicago
papers, and that all other papers friendly to
the cause be requested to copy.
ResolSsd, That 1t shall be the duty Of the
Executive Committee to cause the proceed
ings of this meeting, including the declara-
tion Of principles and resolutions, together
with the lecture delivered by Hon. A. Camp
bell, at the Court House in Bloomington, on
the lst Of April, A. ID. 1866, to be printed
in pamphlet form.
On motion, the Convention adjourned to
meet at the cali of the committee.