The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1867-08-10


" Ne ndstss o<ths WonssseNar's Asvoo2ss
II ~ remarkable how cJoiy. and with
N assumption Of contsmpt, our lea
Psrty pets treat the subject Of anancia
form notwithstanding that IL 10 the
question Of the hour.
. The following article was sent to the
pendent week ago, and to-day reeeeI7;.
return, without one word Of explana
But the record must stand against Il
and itwfif not bs long before thsy vii
sneakIng into our ranks, and seeking Il
come our party Leafers We must "
them, and trust them no farther than
"record" will warrant
icolcPfRArroN AND sJusD CUHaxScY.
OBERLIs, O., July Is, Is
To tho Edrtcr q The Indeprndrnt- EN-
While money brokers and stock CANT
are perfecting their schemes ibr SetIiug
values produced by honest labor, i becot
honest laborers TO look little 10 thar
Interests, 70 Investigate add not remaira
ignorance VI the Causes Of these 6uctuati
in the money and stock markees, and
consequent adjustment OF pfices b the 4
rice Of spectators
Is u 10 the nature or things that
fluctuations must exist, and that labor \
always sell for low price what Il proJnt
and pay high price FOR wha. il oonsuu
Il u In accordance with some fuexor
law that so many mid1e-men u ast stanti
tween the producer and consumer. and q
lat on Their necessities and misfortu
BY no means
Ilese drplora5le conditions are brouRh
90 Us by the scbemings u -unprincipled y
BY ar unjust All fraudulent monetary ~
and 6V ho cons qlvht -eonAinstion of
capitalists.
W. are politely referred 10 coon, Nm.
az the remedy, by some of the recein,. =
large incomes, who undoubtedly ialt-.
their sleeves ard chuckle over tbe $500
We should present, trying to coop,
with the currency SUBJ ct % tha .ViII IN
enemies.
Cooperation j. one Of the essential.
We must have SMILING more, a. g-r.
Wade truly saws. Inst -" something al
i a currency That clnnot b monoreI
that cannot DC esp.Sndtd ma ce,sf~a.is w
the pleasure Of q few currencg that
adjust I:s.vafue TO the wants OF frlls.
There are two features essential 30 a
rect monetary system, which have rgra-
been embodied IN the financial ar-ar ls-l.
/ Of any nation:
i. IL must secure to MI persons Wy.
times, the use II money a. jlst rs.e or
tereeLaan good security, 90 mstr-r vhg
N small ., lsrEs scGiss. = e. ,o,, o-
periods 81 tune.
2 Ii must secure 20 al persons ths
portunity % invest money al any tima
some kind " protectiYs ~ accumnl .tivg
perty.
These features can he INTRODUCED 1u
one way, viz : Let Government Issue w
currency, loan to individuals ON f.--
securities, at a Fixed and Ilst rate WI WV, ".
and receive deposits from ia4lyi iaa'.. 4
to them d tiX--i aud just rate ~ intara
Upon this plan, whenever mo4sT Z.
IN grow scarce, individrals would borrow
t'DveFnmont thus Increasing TIE crrcu,a
All the demand would be supplied.
SheneSeT Il bagan u grow to1 panty
vidusls world deposit, thus decre.-irr
circulation nntil th- surplus were sri.l ira
IAerc would De W. temptation WV ",
money, because the daer would at
hme- bs Opeu ID get what they need.
ia,ed Instances Of co operation may ,.
.necessiul, bur anything like a rhofoara
operation Of leboring men, throSghoI
country IS practically impossible lnul
can prevent these unna ural Euctu .ti1H
.he volume Of oar currency
Yours truly, NN- r ANcgKEE