The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1868-08-29
LABOR REFORM.
SPEECH OF GEN. y. +. CARY.
The WOrKIngmen's Candidate for
Congress.


cay evening. We publish below an Ell tract
ON that part Of bis speech which relates
81 the finances of the country:
We advocated fhe revision OF our financial
oliey 80 as to secure 10 it its Just share
If the earnings. This involved the necessi-
Nv of change In our monetary system and
} ence we insist than We shall have but one
md Of money for all, cheers, and that
ononey issued by the sovereign power of the
alton. No banks, state or national Cries
sf sGood.n We want good money, that
everybody, the rich and the poor, the bend
holder and the laborer, may have the sane
ind of money. This, my eountrymen,
Nery early presented to Congress in very
elaborate argument in favor Of the green
back theory-so early as the Sth of Janu
AIRY, little more than month after | was
tworn in. ] immediately, therefore, pro-
posed a bill embodying these great princi-
les. The bill was referred to the Commit
ice Of the Whole.
That this proposition which / advocated
did not pass is no fault of mine. 1 worked
Tor Its accomplishment, and shall continue
20 work until the 4th of March next, and if
Won re-eleet me | shall continue in the same
way. IGreat applause Now, my country
U
have incurred an immense debt by the war;
and we have 10 support the crippled soldiers
and the widows and orphans Of our fallen
ieroes who fought the battles of this war.
We have incurred an enormous debt, which
lies up mountain high, now Increasing from
hye to ten millions a month-now, every
lAonth.
AND who, under the present financial pol
jcv. who. | ask, pays the interest on the
bond holders debt and on the public debt !?
IA il those who made money out Of the war
and who bold The bonds Of the government?
No, nv countrymen. The very same men
sho fought the battles of the war, who are
il The workshops of our country are the
men who paw the boBdholder bis interest.
Applause The bond holder Is receiving,
md pays nothing. We say the public debt
should be paid by every one, according to
ms property. In our resolutions We now
simply declare that
whereas TIE public debt should be paid in
good faith, according 70 the terms Of The con
tract therefore,
Resolved, That the public faith does not re-
uuire the hve-twenty bonds should be paid in
peld but he paid IN the same currency with
which we paid the soldiers who fought the bat
iies o. the war III the same currency OF money
IN which the widow and orphan received their
pension, ID The same money which the l4borer
receives for bis daily toll, and the same used in
business transactions
What became of my resolutIoni 1t was
referred 10 the committee of ways and
means. A bill to change these bonds into
thirty and forty year bonds, principal and
interest payable 10 gold, and exempt from
An taxation, passed at the last hour Of the
session AID If Andy johnson ever deserv-
"a the thanks Of The American people for
anything. It was for putting that thing into
bis breeches pocket lGreat laughter. What
do We gain by changing these bonds into
other bonds Why, thew say, we secure a
lower rate Of interest We will pay on 30
year bonds Al per cent, and on the 40 year
bonds per cent
But mark you, this proposition makes
these bonds, nov payable IN greenbHcks, a
permanent debt, pIIncpal and interest pay
able in gold. 1t j. according TO the Fund
ing bill, my countrymen, that these bonds
should be forever free from all State and
National taxation.
will never be willing to vote for the is
rue Of any bond by the Government Of y .
United States that shall be excluded in any
wav from the taxation to which other prop
erty is subject Cheers. SO you under
stand me distinctly on that proposition.
Ny cOuntrJmen, il this proposition there
j. this principle involved, that the people
who fought the battles Of the war should
ray the debt, and not those who made mon
~ out of it. To that never will consent,
and say distinctly bere and now, and the
reporters may put Il on record, that if the
bODdholders, through their representatives
in Congress, shall get law passed, that the
tive-twenty bonds shall be paid in gold, and
TIA they Hhall never be subject TO taxation,
then / am IA repudiator. Tremendous and
prolonged applause
/ do not want TO be misunderstood. | am
il favor Of paying the public debt to the
last farthing, according to the law. There
are 1913 100000 Of the ten-forty bonds
These are payable in gold, principal and in
terest These are the five per cent bonds.
| say pay il 70 the last farthing, it it takes
the last shirt off my Daek. Yes, know that
the workingmen are in favor Of preserving
the honor and integrity OF this republic, just
as they preserved with zeal the flag of our
country just Is they fought On the battle
field When the interest 0f the country de-
manded il. They are as ready to pay the
debt, bus are demanding that the man who
mas the wealth sail pay his share Of the
bill.
NV countrym men, have been looking into
this subject little. have spent good deal
81 time ia its Investigation. And say here
Is by deliberate Judgment, that the industry
Of this country can never pay-the product
tive interest OF This country can never pay
This debt, principal and interest in gold,
without Your telng slaves, you and your
children forever.
How is business prostrsted' Everything
at dead stand no manuac, RES being
built for poor men " work Ia. Mhyi Be-
cause Government is paying a greater inter-
est Than you can aiiord 70 pay for the loan
Of mouey. Besides that, If you get little
money and invest il 10 bonds, II exempts you
NON all taxation.
Who pays The taxes. The landlord No,
they come IRON TIE productive interest Of
the country.
Now / want to show you what interest you
can pay. The prUductive interests OF this
county, during period Of seventy years,
have added &c the " ealth OF the nation three
per cent, ana no more. ] want you 10 On
deIStand il, that all that the millions Of men
working al the anvil, and Ia the shops, and
elsewhere, have ADDED To the wealth Of the
l.atlon has been bat three per cent per an
mum ioT seventy years. Now, suppose the
wealth OF the nation was $20,VU0, 0U0 600
that is what il is estimated at-tnree per
cent. on that is $600,U00,0U0. That Is what
aliyou woTkingnen 10 n nation and all that
woIkiDgmen have added to the wealth Of the
nation. Now, lei as look at il. The i've
per cent Of the people who own all the pro-
perty aud nothing. They get 0ne-balf Of
lie earnings, lhey iive upon the interst u
the land, and, with others who add nothing
to the productive interests Of the country,
get $500, COS, 900 left, doh't theys
The ninety live per cent. have $500, 000, 200
left. The interest on the pubic debt, the
expenses Of the General Government, the
interest Of our State debts, the expenses OF
our State Government, the expenses Of our