Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1867-10-21
THE LABOR REFORM.

\ n WOIhlus NUN Va
sschusetts, held q large and orderly
meeting at Mechanics Hall, Monday
evening, September ed, to discuss
measures for the Improvement OF their
condition and promotion OF the labor
reform. The principal speech OF the
evening was made by Amasa Walker Of
North Brookfeld, Mass. The first por-
tious of the address were occupied with
the discussion of the present financial
condition of the country and its causes,
resulting from the emergencies and I'M
wise policy of the war; Of the difference
in the relative value Of labor and other
commodities, compared with their rela-
tions before the war, and of the right
and duty of the laborer to organize for
the protection of his class. From sta
tistics obtained by the Massachusetts
labor commission Of 1865, it had been
ascertained that the average advance of
all wages, during and since the war, is
only so per cent: that Of the laborers
being the most, 60 per cent; and that
of teachers the least, so. Wages, how
ever, have not kept pace with the adj
vance of commodities, for the former
have only one demand to supply, that Of
present, actual need, while for all COM
modi,ies there are always two demands,
one for consumption, and the other for
speculation.
In the present condition Of affairs, the
great and imperative remedy is contrac-
ton of the currency, not only for the
benefit of the laboring classes, but for
the good of all departments Of business.
This Mr.. Walker advocated at consider
able length. He advised the working
men to petition Congress. next winter,
to have the currency contracted and
brought back to a specie basis, and
said that if they would do it Congress
would accede to their request.
In answer to the question whether to
withdraw the $500, 600, 900 of national
bank notes or the S4OO, 900, 900 of green
backs, Mr.. Walker replies, the former
by all means. "We do not want these
national bank notes, we never needed
them. Every dollar issued was a down.
right nuisance, and the wise ones have
known it for some time" There is no
fear of running the banks; they have
loaned their capital to the Government,
then their notes and now their deposits,
until they are drawing interest upon
81, OO0, 900, 900, not Of money but of
credit. During the three years they
have been in existence they have diyid-
ed on an average FIVE per cent. semi
annual dividends-a greater per cent.
than was ever before kuown-and even
if the $500, 900, 900 of national notes are
| withdrawn and the banks lose their in
come, they will still be reaping profits
larger than those of any other business
in the country.
Mr.. Walker also took strong and ad-
vanced ground for the taxation Of the ma
tional banks, which will be no violation
o~fnational faith, a s the banks are already
taxed one-half per cent, which implies
the right to increase it, and also in the
act creating the banks, Congress has
the power to alter, amend or repeal the
law. The laboring men are also enti-
tied to a system of just and equal tax
alton, and should demand this from
the Government. He said that they
have not only been robbed by a redun-
dant currency, but they have never been
taxed fairly. They should ask the
| Government to issue no bonds hereafter
not subject to taxation, and that all
bonds now out, when due, which will
be in three or four years, shall be made
liable to taxation in the reissue. The
present exemption Of the national bonds
from taxation is only to the harm and
detriment of the workingmen, whose
taxes are increased by the entire
amount which should be derived from
the Is per cent. of the capital of the
country thus exempted.