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

made law BY these supple appliances I
4 questionable. This MAY be very good logit
in Wall street, where the wealth Of The M
lion is gathered into the hands Of q Few msn
4 through the operation Of odious national
state class legislation, but is by no means .
true solution Of the interest question.
Property is mainly the product Of labor
land monetary aud interest Laws are ths
means u distribution between the non-pro.
ducing capitalists and the producing classes
they determine that q large share OF the
lmrplus annual products shall 60 the former
1 Tor his pictures of the peoples products, and
very small share to the people for theiI
products. In new countries are large pro.
auctions; these and the increased value Of
wild lands constitute their gains. France
and England are old countries; their re.
sources are the annual productions OF labor.
The fundamental idea of their governments
is, that rulers are divinely appointed to rule
the masses, that labor is primarily for the
support Of those god-given dignitaries. In
terest and taxation are the two modes OF
making the masses support this royalty and
grandeur. The aggregate amount OF the
surplus annual production In these countries
| is less than three per cent. Hence that ia
the amount to be Gistributed--the interest
on the national debt, or consols, is three per
cent. and the paper things called money,
based upon these bonds Is five per cent. ;
thus the AMOUNT to be distributed to roy
atty annually is eight per cent. and exempt
from taxation, to labor three, and subject to
taxation.
But this does not give full view Of the
| lions share. The aristocratic classes who
by their financial genius show themselves
wealthy, are made co-partners with royalty.
The government controls the circulation
they increase or decrease that circulation at
pleasure, and thus increase and decrease
prices to suit the interest Of these central
operators. When the people have not pro-
duced enough to answer their demands by
the increase Of interest, the government sad
dies the loss Oh the people and on the COM
mercial and manufacturing classes. These
latter classes are thus subordinated to the
ruling class.
In the seaboard towns of this country,
financers from the old world with those Of
the new, have congregated. Here, with none
to modest, them in the midst Of civilization,
they ply their trade and exhibit the refined
knavery Of modern money shaving
So far, these money kings have had su-
preme control. National and State legisla-
ton, well backed by Judicial decision, is in
their hands. If money shaving is not pay
ing institution in this codntry as well as in
Europe, it must arise out Of the extreme
modesty peculiar to this class.
BY the national laws specie is given a
legal power over every other product, by
way Of tender and interest. 1t is only pay
able on government inde btedness and import
duties, and thereby it is accumulated into
the hands Of these capitalists in the sea.
board towns New York, Pennsylvania and
Massachusetts,, have been allotted majority
of the currency. Directly and indirectly
through the national laws aud the CONNER
cial and manufacturing interests thereby
created, they have control Of nine-tenths Of
the currency, and agricultural productions
are in the country in small quantities in the
east and very large ones in the west Hence,
interest is low and products high IN the
east interest high and products low in the
west. This gives to money shavers their
high interest in grain in the west, in l0bo'
in the east 1t thus gives to them the
greater share Of the surplus annual produc.
tons east and west. 1t also makes the Ia
boring men Of this country mere tillers oi
the soiI-hewers Of wood and drawers Of
water for few men in Wal-street.
What a gross imposition on common
sense, truth and justice it is to attempt by
such sophistry as is used by the writer above
mentioned, to make the rate Of interest or
money like useful articles of industry, to de
pend upon the law Of supply and demand
and upon the integrity Of civilization, anC
stringent laws to protect it.
When the truth is that the rate Of interest
is determined and fixed by the lust Of gair
of money shavers, through unjust, unwise
and exceedingly partial class laws.