The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1869-08-21

Just monetary system, receive or retain the
Larger proportion Of their productions; that
the wrongs, expressions and restitution which
Iaborers are suffering In most departments of
legitimate enterprise and useful occupation, do
not result from insuficiency Of production but.
from their unfair distribution of the produest
Of labor between non-producing capital and
labor.
That money 10 the medium of distribution to
capital and producing labor. the
rate Of interest determining what proportion of
the products Of labor shall be awarded TO can
ital fer its use, and what to labor for its pro-
auctions; that the power to make money and
regulate its value Is an essential attribute of
sovereignty, the exercise of which il bv the
Constitution OF the United States, wisely and
properly granted to Congress, and il is the i'm
perative duty Of Congress to institute upon
such a wise and Just basis that it shall be
directly under the control of the sovereign peo-
pie who produce the value il IL designed to rep
resent, measure and exchange, that it may be
a correct and uniform standard of value. and
distribute the products Of labor equitably be-
tween capital and labor according to the SER
vice Of labor performed in their production.
That the Law enacting the so-called National
banking system is Q delegation by Congress Of
the sovereign power to make money, and regu-
late its power TO a class Of irresponsible bank
ing associations, thereby giving to them the
power to control the value Of all the property
in the nation, aud to fix the rewards Of labor
in every department of industry, and is inimical
to the spirit Of liberty and subversive Of the
principles of justice upon which our Democratic
Republican Institutions are founded, and with
out warrant in the Constitution, justice, reason
and sound policy demand its immediate repeal
and the substitution of legal-tender Treasury
notes as the exclusive currency Of the nation.
That this money monopoly 10 the parent Of
all monopolies-the very root and essence Of
slavery-railroads, warehouses and all Other
monopolies of whatever kind or nature, are the
outgrowth Of and subservient TO this power
and the means used by it to rob the enterpris
ing, industrial wealth-producing classes Of the
products of their talents and labor.
That as government is instituted to protec
life and secure the rights Of property, eact
should share its just and proper proportion o
the burdens and sacrifices necessary for ii
maintenance and perpetuity, and chat the ex
emption from taxation of bank capital ant
Government bonds, bearing double and bank
rupting rates of interest, is q species Of unjus
class legislation, opposed to the spirit Of oul
institutions, and contrary to the principles o.
sound morality and enlightened reason.
That our momentary, financial and revenue
laws are, in letter and spirit, opposed to thu
principles of freedom and equality upon which
our Democratic Republican Institutions are
founded, there 10 in all their provisions, mani
testify studied design to shield non-producin(
capital from its just proportion Of the burdens
necessary for the support of the Government
imposing them mainly on the industrial, wealth
producing, classes, thereby condemning then
to lives of unremunerated toll, depriving then
Of the ordinary conveniences and comforts o.
life of the time and means necessary fol
social enjoyment, intellectual culture anc
moral improvement and ultimately reducing
them to a state of practical servitude.
We further hold that, while these unright
eous laws of distribution remain in force, lab
orers cannot, by any system Of combination OF
cooperation, secure their natural rights. THAI
the first and most important step towards the
establishment Of the rights Of labor, is the in
stitution Of a system of true cooperation bet
ween non-prOducing capital and labor. Thai
to effect this most desirable object, money
the medium Of distribution to capital and labor
must be instituted upon such wise and just
principle, that instead Of being a power to
centralize the wealth in the hands of a few
bankers, usurers, middIe-men and non pro
ducers generally, it shall be power that will
distribute products to producers in accordance
with the labor or service performed in their
production-the servant, and not the master
Of labor. This done, the natural rights of Ia.
Dor will be secured, and cooperation in pro
duction, and in the distribution Of products,
will follow as a natural consequence. The
weight will be lifted from the back of the lab
orer, and weslth-producing classes will have
the time and the means necessary for social
enjoyment, intellectual culture and moral i'm
provement, and the non-producing classes
compelled to earn a living by honest industry.
We hold that this can be effected by the issue
Of treasury notes made legal tender in the
payment Of oil debts, public and private, and
convertible, at the option Of the holder into
Government bonds, bearing just rate of in
terest, Sufficiently below the rate Of increase
in the National wealth by natural production,
rs%64naeeA M edafrxots oilstf5jhu6h OF vhe
PRODUCTS Of labor between non producing CAPT.
al and labos, reserving to Congress the right to
liter the same when, In their judgement, the
public interest would be promoted thereby
irving the Government creditor the right to
AXE the lawful money or the interest bearing
'onds nj his election, with the privilege to the
,older 70 reconvert the bonds into money, or
he money into bonds at pleasure.
We hold this 10 be the true American, or
PEOPLES monetary system, adapted to the gen
us Of our Democratic Republican Institutions,
n harmony with the letter and spirit of our
Constitution, and suited to the wants Of the
government and business interests of the ma
ion that it would furnish a medium of ex-
'hangs, having equal power, uniform value
md fitted for the performance Of all the func-
ions Of money, c0-extensive with the jurisdic-
ion Of Government That with just rate
YER cent, interest on the Government bonds, it
would effect the equitable distribution of the
PRODUCTS of labor between non-producing capt. !
al and labor, giving to laborers fair compen-
alton for their products, and to capital a just
eward for its use /; remove the necessity for
Excessive toll, and afford the industrial classes
he time and means necessary for social and in |
ellectual culture. With the rate of interest
It three per cent on the government bonds, |
he National debt would be liquidated within
ess than thirty years without the imposition |
" collection of farthing of taxes for that
purpose. Thus it would dispense with the hun
Try hoard Of assessors, tax.gatherers and gov
rnment spies that are harrassing the indus
rial classes, and despoiling them Of their sub
istence.
We further hold that it is essential to the
lappiness and prosperity Of the people, and the
liability Of our Democratic Republican Institu-
ions, that the public domain be distributed as
widely az possible among the people land
monopoly being equally as oppressive to the
'eople, and dangerous to our institutions, as
he present money monopoly. To prevent this
he public lands should be given in reasonable
Quantities, and TO none but actual occupants.
We further hold that intelligence and virtue
n the sovereignty are necessary to wise ad-
Of justice, and that as our institu
ions are founded upon the theory Of SOW
rcignty in the people in order to their preserva-
ion and perpesuity, it is the imperative duty
# Congress to make such wise and just regula-
ions as shall afford all the means Of acquiring
he knowledge requisite TO the intelligent ex-
'rcise of the privileges and duties pertaining
o sovereignty, and that Congress should ordain
hat eight hours labor, between the rising and
citing Of the sun, should constitute days
york in all Government works and places
vhere the National Government has exclusive
and that it is equally imperative
IN the several States to make like provisions by
egsl enactment. Be it, therefore, unanimously,
RssOlred, That our first duty Is now to pro-