The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1869-02-27
FROM PENNSYLVANIA.
PHILADELPHIA, Feb, Is, 1869

PHILADELPHIA, Feb. 10, 1863,
To the Editor Of the HoEEmeNAS's ADvsoArH.
The position of The Ledger on the none
tary question is 70 many of liz readers an
i1explicsble one. IL my letter Of the LIT
inst, | ASSAY ed 10 explain why be advocates
gold payments aud at the same time opposes
the National Bank system. The views eH-
pressed in the department devoted to finan-
cial discussion, If not from the pen OF Mr..
Drtxel, are but a reflex Of those entertained
by that gentleman, who cannot ia reason
have any sympathy with a system which
from it's sheer enormity is calculated to goad
the masses to the support Of total repuda-
ton of the obligations so unjustly incurred
curing the late civil strife II the spoliation
Of these banks continue to increase in the
same proportion they have during the few
come to bankruptcy, and U. S. Bonds win
be Of no more worth than was continental
money subsequent to the Revolution. Mr.
d. is undoubtedly a shrewd man, and d.
sires to make the debt appear a. trihing A.
subteriuge can make il, to stay it's sayment
as long as possible.
The holders Of English Bonds do not de-
= rye their payment, and our bond holders
are not . bit more ANXIOUS to have theirs
cancelled SO long as they continue TO derive
the immense income they now do from them.
II the negotiation Of our bonds, the arm 81
Drexel 4 Co. was left out In the cold and
oYoIy Of that business was given 10 jaw
Cooke, hence the Ledger's opposition 70
pay ment OF a commission on the sale Of the
bonds. Drexel Is but slightly il at all inter-
ested 10 the National Banks, so the Lefoer
advocates the abolition. These are few OF
the reasons explanatory of the some hat
paradoxicAl stand taken by the Ledger,
Shich will suffice TO open the eyes OF such
ss sull stick % the idea Of gold payments
on the plea that the Ledger, being on the
right side in the fight against the National
Bank and lesser m0nopOlies, must certainly
be correct on the gold question. In the gold
monopoly 10 the germ OF all monopolies, in
GLIDING that Of land. No extensive land
owner holds his lands other than bY pur-
chase with uDoccupIed capitsl. II money had
have been always In plenty, lively compe-
tition FOR the possession OF public lands
would be held by many. and be in a mature
state Of cultivation, instead Of as now idle
and in the possession Of q monled few.
The plumbers met for permanent organi-
zatlon on Friday evening last. The pro-
ceedings Of tine meeting wers condustes in .
harmonious manner, and some legislation
conducive cfipsure good occupied the ses-
sion. Permanent Ulcers were elected, JohH
@. Mccoy being their choice for Secretary
with whom at Painters Hall, Locust below
San, the plumbers Of other cities fagoring a
National organization should put themselves
10 correspondence. am sure Mr.. Mccoy
and The other Philadelphia Plumbers would
look with favor upon such move. The Or
hcers selected are men Of vim, who are In
tent upon bracing the organization againt
future storms, which they will diligently Ia
Dor to do assisted by the members gener-
ally, who are active and alive to the neces-
sIty OF putting their shoulders 70 the wheel.
@. Ben. J.