The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1869-08-21
The National Labor Convention.

The National labor Convention.
During the session of Wednesday Mr.. 0.
II. Sheldon, of Missouri, presented
lengthy communication from Francis P.
Blair, Sr., dated OF Silver Spring, Md,
which was referred to the Committee on
Communications. Mr.. Blair SAYS, among
other things, Your organization is right
In addressing itself ut once TO the financial
question; and you say, with truth, that
the Congress of the United States, by
transferring power to corporations which
control the money Of the country, have
created thereby worse monopoly than the
oh United States Bank > and you Justly
compare the fatal policy adopted by the
usurers to subject our Government, after
the war of 1912, to their sway to that
adopted during the late var. Moneyed
men always have a simple process with
nccessitorcs, States, or individuals, to get
possession Of all their resources. 1t
is bond and mortgage when the
estate Of m individual is to be trans
q great body Of creditors combine and grasp
the credit and resources of n great nation,
in addition 10 the obligation of bond and
mortgage Of all the assets Of the national
treasury, banking powers are incorporated
giving them sway over the whole financial
system and credit of the Government. By
this process they get not only the interest
on the whole amount of bonds, far greater
in amount than they loaned the Govern
ment, but they get the power to tax the
people by an indefinite amount of loans and
paper issues, and so increase the usury
I'd ijit,1n." :" In effect national
banks have absorbed al the State establish
mcnts 1t was the attempt of the Bank Of
the United States to subject the State banks
and the States to its power that began the
war against the mammoth institution which
grew out of the war debt of 1872"
Mr. Blair then gives an extended history
Of the contest of the Jackson Administra-
ton with the old United States Bank, and
concludes his letter as follows:
- Why NAV not the Government bank on
its own credits, its deposits, and its issues
Of currency, now given to the banks, and
convert the gains into the means Of paying
the national debt, instead Of surrendering
Al! 70 stockholders If the Government
would adopt and pursue the Kentucky plan
of relief and bank for the common veal for
twenty years, fortifying its own credit by
loans to the farmers and builders and arti-
sans. on leins and on lands and on tcne-
mcnts, besides personal security, the colos-
raj debt might be gradually iquidated by
the proceeds, and disappear like an iceberg
in the ocean. But the other day pregnant
hint was given by the Chancellor of the
Eychrmer in England, Mr.. Lowe, in his
reply to a parliamentary representative OF
tie Bank Of England, who complained that
his report on the finances was not accOmmo-
dated to the interests of that institution and
the business Of men dependent on it. Mr..
Lowe told him, in effect, that it was not the
duty Of the Government to take care Of the
tank and its dependents, but Of the Co
yernmcnt and the people; and added, sig
nifcantly, that the Government might bank
for itself. If It had done so from the battle
Of Waterloo to this time, and put the profits
into England's real bank, its treasury, in
stead of into that of the Bank Of England's
shareholders, she would owe no debt, and
the millions Of paupers and hand-to-mouth
lahorcrs that are hecatombs to the grandeur
OF the olicarchy and millionaires of that
country might have some share in the pros
rerity now monopolizcd by the latter. Mr..
Lowe and his c0-workcrs for reform in Eng
land would find the discstablishment and
diScndowment Of the Bank of England far
more cffectual reform for that country than
the late measure with regard to the Irish
Church. And it would be still greater re-
form for US to discstablish our national
banks and resume Tor the people the con-
troll of the finances Of the Government. l
am, very respectfully, your obedient ser
yant f. p. BLAIR"
Philadelphio, August l9.-The National
Labor Congress commenced its session at Z
o'clock this afternoon. Mr.. J. c. c. Wha-
lev, ex-Prcsident Of the National Labor
Union. was invited to q seat on the plat
form.
John F. Walsh, of New York, rose to a
question of privilege. He read a commu-
nication in morning journal rejecting on
his course in relation to the expulsion OF
Miss Anthony, referring TO him as an IRISH
man, &C., and endeavoring TO cast odlum
upon him. He believed it was written by
Mr.. Damon T. KilgOre, who had enjoyed
rcc,liar privileges. As he was neither
delegate nor reporter, he demanded that lie
he removed from the reporters STAND.
Alter considerable ulScuheloll NV "'i0A1
subject was dropped, and ordered to be ex-
Plunged from the minutes.
Mr.. H. J. Walls, of Pennsylvania, CHAIR
man Of the Committee on Organizations,
presented The following report
"RsSolred, That the President, at his
earliest convenience, appoint an executive
committee from each State.
ReSolced, That the executive officer, as
soon US possible, shall, after receiving his
appointment, proceed to call State con
rention for the purpose of forming State
Union; and until such Union is formed,
charters are to be issued from the National
Labor Cuion by the presidents of the local
Unions: but az soon as the State organlza-
tons are complete, the charter shall come
direct from the State Union.
EcSoioed, That the President OF the
rational Labor Union be, and he is hereby,
authorized to issue charter TO State or
CARNATIONS whenever the application made
ID signed by delegates from at least flve
local trades labor or cooperative organlza-
tons which meet at the call of the Execu-
i've Committee.
EcSolced, That each State Labor mon
ID entitled to be represented in the National
l.slGu - r<I1n,,a 0ra lalapafe To