The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1866-06-09

eighty-four millions, eight hundred and
fifty eight thousand, two hundred and forty
dollars, $685., ,85S, ,240. Total wealth Of
the nation at the end Of ten years, twenty
four billions, nine hundred and eIghty-tour
millions, eight hundred and fifty eight thou
sand, two hundred and forty dollars, ($24,-
984, ,856,240 II will be seen that the accu-
mutations on non-producing capital will in
the ten years exceed the increase in the ma
tional wealth by four billions, sixty-three
millions, five hundred and one thousand,
one hundred and thirty-one dollars, (S4,-
I063, ,50l, ,13l,) and the total will equal the
whsle national wealth within three billions,
one hundred and thirty-six millions, four
hundred and ninety eight thousand, eight
hundred and sixty-nine dollars, ($3, SO. .49S,
500
The result at the end Of thirty years, at
the two rates, would be thus. The total
wealth Of the nation at that time would be
forty-eight billions, two millions, twenty
eight thousand, four hundred and eighty
dollars, ($4s, ,002, ,O2s ,4s0,) ten billions, eight
hundred millions (Sl0, 800, 600, ,000) at nine
per cent. for same time would amount to one
hundred and thirty-one billions, five hun
dred and thirtv-three millions, five hund. ed
and fiftY-two thousand, five hundred and
forty dollars, (Sl3l, ,533, ,552 ,54l,) or
nearly two and three-fourths times the
amount Of the national wealth Ten bill
lions, eight hundred millions ($l0, 800, ,000,-
000) with interest at 73 per cent. for thirty
years will amount to eighty-nine billions,
five hundred and slxty-three millions, four
hundred thousand dollars, (SS9, ,563, ,400, Or
man Il ba al If no rhn
Of the nation.
I am convinced that the institution Of
money on q wrong principle, and with too
great power over labor and property j. the
cause Of the periodicalmonetary crises and
commercial disasters which have 50 ire-
quently overtaken the country These re-
vulsions are the protest or labor or prndue-
tive industry against burdens and exactions
imposed upon it by non producing capital
too grievous to be borne. 1t is the monop
oily of all monopolies it is the root and es-
sence of slavery. ! think it is clear that
the present monetary system and financial
policy Of the government, az well as the
scheme proposed by the Secretary Of the
Treasury are inimicsl to and subverse Of
the principles of freedom and equality
upon which our institutsuions are
founded. That they must inevitably
tend to rapidly centralize the wealth Of the
nation ir the possession of the few, and i'm
poverIsh, degrade, and ultimately reduce To
a state Of practical servitude the wealth Of
the producing classes in every department
Of useful occupation, profession and calling
And should either Of them be adopted as
the permanent policy of the government,
our unbounded agricultural, mineral and
other resources must remain sealed treas
ure, Democracy prove failure, and univer-
sal suffrage sham. The adoption Of the
4" True American Monetary System and
Financial Policy will emancipate labor
from the thraldom imposed upon i for ages
BY an unjust monetary system. 1t will en-
courage and foster honest industry and
legitimate enterprise in all branches of pro-
ductive industry, and lead to the develop
ment Of our wonderful resources with a
rapidity aud to an extent unknown in our
past history, and beyond even the concep-
ton Of the most sanguine imagination.