The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1866-06-30
CHICAGO, JUNE 80, 1866.

producing classes Of their substance and
condemn them to kfe Of unremunerated toll.
To prove this let facts be stated TO can
did people.
Our monetary laws unlike our government
are founded on the aristocratic idea Of gov
eminent that the few should rule the many
that the many should toll for the few
this principle was unfortunately grated into
our system from ideas Of mon1y derived
from the aristocratic government Of England
and the money aTistocracy b. means Of q
bank charter from CONGRESS followed by like
grants by the several states secured the pri-
vilege and power 20 despol the industrial
classes Of the fruits Of their labor and taller Is
clothed with this sovereign power these enc
mics Of liberty and justice were at once en-
abied to control the value of all the property
In the nation and TO fix the rewards of .=soI
in all departments of useful occupation.
And they have eislded this sovereign power
with an eye single to their own aggrandze-
r'ent regardless of the principles Of justice
anu morality og Of the interests and rights
OF the enterpriSng wealth-producing classes
and have in every possible way made every
other interest, however important subservient
TO their enpidiiy and avarice They have
expanded and contracted the volume or the
currency and fepudiated their promises and
Obligations with impunity in defiance o;
constitution and laws and maintained the
rate Of interest 90 money greatly above the
rate Of increase in the national wealth by
natural production thereby causing the
periodical monetary crisis and commercial
disasters which have so frequently swept
over the country prostrating all useful enter
PRISE, paralyzing productive industry, rob-
bing ia day the industrial wealth. pro-
ducing classes Of the savings Of years Of toll
and thrift, and depriving them Of the time
and means necessary for social and intellec-
tuai culture deraHging legitimate commerce
and lowering the standard Of commercial ln-
tegrity; making us little less than nation
OF gamblers; retaI ding the development Of
our natural resources and preventing us as
nation from becoming industriallv and
financially what we are politically, self-Sus-
tanning and independent These revulsions
which are but the protest Of labor against
burdens too grieyious to be borne and de-
mands which IL cannot meet, have regularly
increased IN frequency and power each sue
ceeding one following ia quicker succession
and with greater cenralizing power, until
less than five per cent Of the population.
ana these ior the most part the class who
nave not aided either mentally or physically
% Is production but have acquired their
wealth by means of the accommodations Of
interest, while the number Of the industrial
classes who own no real and but htrle per-
sonai property have regularly aud rapidly
increased, wher one Of these schemes failed
they were ever-ready with another and each
succeeding one has proved more injurious
and oppressive than its predecessor.
They have to great extent subsidized
the press, many of our leading journals
without regard to their political sentiments
are owned and conducted by them while
Others lend their influence to aid them in
the accomplishment Of the basest of schemes
FOR the sake of luere, they have by this
means been enabled to el act to our national
and state Legislatures, and TO elevate to other
positions Of high trust, mere professional
politicians. who were as much in their in
terest and under their control, as If EMPLOYED
BY them in direct business capacity. In
stances are not wanting to prove that their
power is felt in the halls Of Justice, in
aueneing the decisions of our courts. thus
defeating the ends Of Justice. They have
in this way moulded legislation suit their
own selfish ends and purposes, and however
black and deep their crimes, thev have been
able to escape through the lax meshes Of
the law.
The breaking out Of the rebellion pre-
sented the occasion for the full exhibition
OF their Unsuitable avarice. Through pre-
vious unwise and viscious legislation they
had control of the government, being in d
great measure at their mercy they seized with
avIdity this opportunity to render their
power over it absolute. Their very first act
made it manifest that they did not intend
to share with the industrial classes the bur-
dens and sacrifices necessary for the main
tenance and preservation Of the government.
Money was at that time abundant In our
large commercial centres at from four to
i've per cent. on first class securities. the
government asked for the loan of a few mil
lions Of dollars, they demanded and o.
tanned very much higher rate (seven and a
half per cent? And thus Immediately took
charge of the financial affairs OF the govern
ment. The Secretary, whether willingly or
unwlttingly, soon acahe their agent. and
has continued to act in that capacity up to
the present time-while the soldiers in the
field and tine loyal wealth h-producing classes
at home, were exerting all their powers and
directing every effort to the suppression Of
the rebellion, these ayaricious fnanciers
remained quietly at home concoctinc in
their dens Of iniquity. and forcing through
Congress their wicked schemes for the per-
manent establishment of their Dc yer over
the labor and property of the D ltion. and
they have pursued their purpose with =
tenacity and assiduity worthy q. an honor
able and good cause. They aaYe dictated
every monetary, financial and revenue
measure that has passed Congress, excepting
alone the issue Of treasury notes. To this
measure and to it alone is the government
indebted for its financial success. When
this just, reasonable and practicable measure
was first presented it met with their opposi-
ton. They forbade Congress authorizing
their issue beyond fifty millions Of dollars.
payable on demand, and directed that BODY
to authorize the secretary to exchange the
government securities, bearing seven and
three-tenths per cent. for their promises To
pay which bear no interest; the order was
obeyed, and large exchanges Of this kind
were made during the recess Of CONGRESS.
When Congress re-assembled these rapacious
hnanciers $ came also" and notwitnst and
ing they had suspended specie payment.
they expressed their entire Willingness to
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