The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1867-10-19

Not ending our discussion Of this subject
last week, we resume it this. That our
minds may come as near each other az -ossi-
bic on this topic Of unusual Importance, We
gladly recur TO some facts held in common
By III classes sad parties.
1. That our national debt is an evil dam
gerous to the rights and liberties of she peO-
pie, will scarcely be doubted BY persons Of
common sense. All history proves that
large public debts and standing armies ia
variably cypress thl masses whose labor
suslsins the country.
,. Hence, thar The wis est means should at
once W employed to pay this debt, will be
conceded by ali more especially since no
thng short Of such wisaJn. can ever accom-
push so grea, an object.
g. That the means heretofore employed to
this eud nave failed now certain. The
report for September from our Treasury,
shows that the receipts from all aources are
only adequate to pay the interesAson the
debt, after meeting the ordinary expenses Of
thg Ge7 -rnment. Let, then, these expenses
ana interest continue as they have been and
now are, With the 6uanciefing we have had
and still have, and there is no hope. Should
any extra cIpense be incurred, as is likely
10 The future, ~ our revenue in any wise be
reduced, tue enormous debt now upon us
must become larger instead Of smaller.
4. ASA must concHr in thase facts, can
ne not also IN another one promising rs
litla hope? Can we not agree that, as i'm
provenents are made in other departments.
il is at least possible that change for the
better mag be made in our finances? Al
most anything is better than despair. To
sinh under our debt too low ever to rise, is
most dismal ard unmanly thought. IL not
dishonest, 1t is dish esrtening and cowardly
COuguering, as brave hearts have done, the
enemies Of our noble country, have we not
left sufficient wisdom and courage to conquer
the public debt incurred BY the fight? We
venture but litjle in answering for all
classes and parties-YEA. The debt can
and shall Re paid, the army reduced and Our
liberties preserved.
). ANY one, the efore, who can suggest
practical scheme 10 accomplish this deserves
the Communication If his fellow citizens,
and that bis suggestion should be well con
sidered, and, if at all reasonable, fairly
red Ihi i sl We ssk for the plan intro.
Iueeu en- discussed ty Kellogg, and the
or nation.
aim of thiaWlaa /. 70 furnish
safe, sound Currency at a cost
H., 81 a
the interest saddled upon rs. -fom
PUl UeuG upon the publie, |
Tste debts, will sink in few years
The most prosperous people on the earth.
ms beng so, the rate Of interest we are
trying to pay must in some wa be reduced,
81 We must 60 into bankruptcy. But little
cyphering is needed to demonstrate this.
Besides, the rents on all property, and pro.
hts in trade Of all capital invested are at the
same ratio as the interest. This widens
most fearfully the burden. Already twelve
out Of the twenty billions Of property in orr L
nation, As IN the hands of Eve men to the
hundred. The fluctuations in the currency.
ana the enormous interest it commands.
have thus concentrated the means Of }ouri
country into the hands of few, while the
same causes are working steadily and ra-
pidiy to the same sad erd. Again we ask,
must TINS process 60 on, till all the wealth
and power Of cur nation shall be monopol-
ized by the few OF shall we reverse the pro-
cess from Concentration te distr;bution, If
Justly 1t caa bs done. We are greatly mis-
'aken soould the producing classes fail. to
Say-do It, The late vote Of PennsylvaDia
aDd OHIO show the dissatisfaction Of the .
people with the present order of thinesf .
There is balm in Gilesd, and we propose ID, {
show it. ~ Q
Al is The plain duty OF Congress under .
the Constitution, let that body provide q 4
safe, sound currency for the people; not BY p
ciarteriDg banks to do 1t, but by doing II D
directly itself. This will be done. as men Of Il
good common sense DO all they undertake, 81
an the simplest, most direct, and easiest Ct
manner. Let Congress, in the FIRST place, al
make every note she has out, Commonly le
called greenbseks) a legal tender for every. nj
thing. Then issue new notes of the same y
kind, providing that they may be converted 10.
at the option of the holder into Government b
Bonds bearing from two to three per cen. q
interest, until the amount IN circulation Il
reaches from thirty to forty dollars to the ID
iphabisant. This would u, once pay more v
than half Of cur .eaofmoas debt. Az on Il
population increases rapidly, in twenty d,
years Tbs increasing issus of notes could "