The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1868-10-10

natural psodsssioa - 70 make IN equitable
distribution Of ths products Of labor between
between non-prodseing capital end labor.
lfsesEving 70 uengrsss ths Fiaht v sitter the
sane uhen, y thelF judgnsnt the public To-
ter@t would b psomotsd thereby giving
ths Government creditor ~ right 70 take
The lawful mopey or che interest bearing
honda q bis slestiou, with the privilege o
the holder % rs-convcrt the bonds INTO
money or the money into bonds, Mt
pleasure" object to this scheme
!. Because such . currency would be the
specHlstor's currency, exaggerAting al
values, disordering al business, and throw
ing tho greatest calamity upon the wages
class.
hold that . coin Currency 10 the working
mans currency and the only honest cur
re0cy, and 20 long ~ there must be com
promise Of honesty. by providing paper
currency, that paper shall be at all times
convertible into coin. 30 soon as the problem
OF the debt can be 50 solved as to render q
con-paying currency possible. This, 10
my Judgment, cannot be done ill the debt
shall be chiefly paid.
.. object to the currency scheme of the
committee, because il will be huge iaha-
ton aud no imitation ever yet failed to
curse labor and concentrate wealth. When
We had something like $500, 000, 900 (yea,
more, as il war counted) Of currency the
money market was a. stringent as il is now
with $500, 000. 900 and If the currency
Should be inflated to $1,000, 900, 900 there
would still be as loud demand for more.
InHstion puts up prices, which the toller
! u lnnu h.fnra his ALI
up 70 the same level.
lnfiation causes an OVERRIDING OF business
10 be followed by depression until the sur
plus can be worked of. Paper currency can
never have real value except for It's worth In
coin, or wheat, or anything else, and the
value OF the one or the other will be IN pro
1 portion to the initiation.
| Ill. | differ with the Committee once
more. They say that the revenue system
was studiously devised for the purpose Of
imposing the burden upon those who have
no property. That is true; but the Com
mittee propose no remedy except their cur
rency scheme of paying all debts, publ,
and private, in Government notes. As
have already stated. this, in my opinion
would only aggravate the difficulty. Cur
rency notes convertible into bonds at q Low
rate Of interest would never be so converted
4, unless the annual increase os Dationa
wealth is per cent, and, according TO Ia,
Com mittee's scheme, the bonds could bea
but about per cent Money in tie marie
will command as high percentage unde
imitation ~ now, ana everyone could max
bstter use Of his money than TO take bonds
Hence a constantly increasing imitation
prices forever going up beyond the reach o
labor.
Hence, to remove the burden Of taxatiol
from the wages class, would have Congress
impose graded income tax to pay the ex
penses growing out Of the war. Then 4
pay the debt, | would have instaIment
thereof apportioned among the States. TO b
PAID by tax on land aud real estate mono
poly, taxing the surplus over REASONABLE
exemption Tor a house or a farm.
Thus tar concur with, and thus far dis
SEM from the views ot the COMMITTEE, aus
regret that time does not permit furthe
argument.
H L. A. HINK.
IN. On motion, the majority report Of tn
Committee on Platform was reserved to
acted upon at $3.50 Friday morning, and th
minority report was laid on the table.
EMIGRATION AND THE PUBLIC DOMAIN.
Mr.. A. Il. Cavis, Of Washington, presen:e,
the following prea-iD.- I'D resoluti ms:
WHEREAS, Congress a..l he political partie
Of the United States favor the policy Of protect
Jog American industry Dy duties on import:
and whereas congress ana the State Legislature
have, by legislation, encouraged the intrOduC
ton Of foreign labor into the industries Of tn
country which labor when brought Into direc
competition with American labor, whose pre-
lection is the ayOwed policy Of the government
and whereas federal and state legislation la
chartered companies to procure emigrants, an
congress has denoted large bodies Of publ
lands TO such companies, therefore,
7 Resolved. That congress has no constitutions
power to protect industrial investments at ia
expense Of operative labor.
Resolved, That the chartering Of emigran
companies is direct attempt 10 control Ga
price Of home labor, and is hereby reprcbate
and denounced.
Resolved, That congress Is invested with n
authority to bestow the public lands upon pr
yate corporations, particularly when such col
porations use their franchises to bring the ches
labor of Europe into competition with the deal
er and more Intelligent labor Of the - mite
States.
These resolutions were adopted unani
mously and without debate.
The congress then adjourned till o. CLOG
Friday morning.