The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1869-04-10
WHAT Is MONEY s--NO. vi.
By WIN q. sYLvIs.

Up to This point 10 the discussion of this
question have dealt almost entirely upon
the power Of money 70 -c"umula's value by
interest. Having, trust, made this part Of
the subject plain to every reader, | shall
nov offer few remarks on the material''
Of money.
The reader viii remember that have al
ready said that the old idea that only the
precious metals are Ct to make money with
is a falscy, and has been adhered to by
those who have taken upon themselves the
management Of 6nsnCisl affairs, for no other
reason than because il fuaftshed the surest
and most secure means Of controlling and
snsIaVing 'De productive industry Of the
world.
For the first time in the history of civili-
zstion, We find a wide spread and earnest
effort in favor Of currency made exclusive
lY Of paper, and 1t il not surprising that
these efforts are opposed by many working
mol. We have all been educated to the
idea that money could only be made Of gold.
Ia Sighting this battle against the centraliz-
ing power Of "gold money!" anu against
the whole monetary system as it now exists,
We have to combat the accumulated prejudi-
css Of thousands Of years-s vast amount
Of ignorance and Indifference, besides the
combined power Of the worst monied aris-
tocracy in the world.
There are very few men, Outside of those
who control financial affairs, who have Civ
the subject Of money any consideration
and almost all who have written upon is,
have viewed it from a gold stand point.
Workingmen, as q general thing, have
given the matter no attention whatever.
They have taken it for granted that the sub
ject was 80 deep aud my sterious as to be en-
tirely beyond their reach. They have sup
posed that only men educated in all the
arts and mysteries Of financial problems
could handle it therefore, they have given
it the 20 by, allowing bankers, brokers, and
other swiDdlers to do their thinking for
them.
One hundred and fifty years ago, Bishop
Berkeley wrote a pamphlet called the
"Querisr," in which.he took strong ground
against gold, and in favor Of paper money.
So fierce was the denunciation Of bis work,
and Of himself, by the wealthy, and 80 ig-
norant and Indifferent were the VOL king peo-
pie, that his little book soon became obso-
lete, and for nearly hundred years the
idea slept; men who entertained were not
bold enough to proclaim it. 1t was not IN
ill the p-eat work Of Edward Kellogg made
its appearance that any definite shape was
give to it, or that men began 10 study and
comprehend It. This work made deep i'm
preston on the minds Of few men, while
the many cast 1t aside, and the newspaper
press almost universally denounced it az
the production Of a lGnstic. In 1864 Hon.
Alexander Campbell, Of Illinois, issued q
pamphlet, called the "Free American Sys-
TEN Of Finance which was . powerful de-
Tense OF the Kellogg theory of money. This
work was widely read in the west, and made
many converts.
During the winter Of 1865 Mr.. Kuyken-
dali, of Limos, introduced Q bill in Con
Kress, providing for national currency, to
be exclusively paper, and mace very able
speech on IL; these were widely circulated
and did good work. 10 1868 Mr.. Cary, OF
Ohio, the only wOrkingman's congressman
ever elected, presented bill looking to the
same end, and made pcwerful speech up
on il; these too, we're scattered broadcast
over the country. In the meantime others
had taken up the subject, and IL begaR 20
make slow but certain progress. Il was
left for the National Labor UuioL," at lie
second session, Angus. 1867, 10 be the nrst
public body 10 acopt II, aud proclaim it to
The world ~ the central idea Of Ii ir plat
form and organisation. So rapidly 10 this
idea Of "People's Money" being spread.
and 30 deep is iIs hold upon the people, that
lite enemies-all who are interested In
s~indliDg labor, are becoming alarmed, and
beginning 70 denounce it. This 10 the point
we have long been desiring TO reach, know
very well that just so soon a. fair hear
ing could be bad, our ideas would prevails
The accumulation of a vast public debt,
and system OF taxation the most odious
in the world, with q national bank monopo-