The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1870-08-27

made to bud end blossom and yield its huIf
BY the effect Of the Labor Of thoss who are
now living in idlenea, looking in vain for
employment But we ask, What has
legislation done TO bring about this grand
result 7" 1t has virtually dons nothing 10
improve the condition of the toiling poor ;
but on the contrary, has done al in its power
to clog the wheels of industry and make the
products Of American labor contribute TO
the building up Of . moneysd aristocraey
both in Europe and America, and has mort
gagged the labor Of the present generation
and Of their Successors it has bled the
nation by the collection Of excessive taxes
until she trembles with weakness, and yet
business men and others ask why Is trade
50 dull and money 50 scarce. Go ask the
reduced patient why be ID 70 weak. and be
will tall you an ignorant quack has almost
bled him to death I; and we say what the
blood is to the human body, money is to the
body polite, and as we'll may we expect to
find healthy body without a sufhciency Of
blood as 10 find healthy and prosperous
business without sufficient money to sustain
it.
:" We find from the most rsliable data
that the little Empire of France is using $50
per capita, Great Britain from $25 to 500;
and yet, With all the natural resources and
enterprise Of our own country, we have mot
to exceed tl2.50; yet with the lack Of
money 10 carry on the business of the coun-
try, in comparison with other nations, we
are crushed down with an enormous public
debt, and our financial managers ae con-
stantly drawing from the various channels
Of trade large amounts monthly for the os-
tensible purpose of lsssening our Indebted
ness but bad the Government acted honest
ly toward the people they would have paid
the debt as il became due. according to the
letter and spirit Of the contract-that por-
ten that was payable in gold in that com
modify; and that was payable in lawful
money in lawful money. The Congress.
had the power 10 call in tho national bank
carency and issue in its stead legal tender
made payable and receivable for all debts
public and private. including duties on i'm
ports. Had this been done, Is was de-
mandsd alike BY justice and common sense,
the money would have been secured by the
bonds Of the nation and we'll protected
against the possibility If depreciation. This
would have given us safe and reliable cur
rency, equal to the wants Of business, and
in harmony with the letter and spirit Of our
organic law. LIT was found that there was
too much currency in circulation, by giving
the holder the right to convert the money
into bonds bearing three per cent interest,
or bonds into money at pleasure, it would
be impossible for the capitalists and banks
TO charge more than three and half per
cent. I; and when money business would not
pay that per centage, it would be converted
into bonds; when the money i'm business
would bring more than. that, the bonds
would be reconverted into money. It
would then have been impossible to have
contracted the currency of the country 90 rs
to create panic. or increase il beyond the
wants of business. By this eourss we should
have establisbsd . sound and permanent
currency, having its true value wherever
our flag has jurisdiction the bonds would
be converted into money as the increase Of
population demanded, without increasing
the amount per capita our debt would
have been adjusted, and finally iquidated,
without taxation for that purpose, and the
hungry horde Of assessors and tax collectors
would be driven into the ranks OF produc-
tive industry. thereby lessening taxation,
and thus removing the heavy burdens
which are gradually crushing the wealth
producing classes to the earth.
We believe the plan proposed would
have forever put q stop to those legalised
frauds upsn the people called National
Banks, the most adroit system Of robbery
that ever was perpetrated on the American
people. Thus it will be seen that heavy
taxation could have been avoided that ID
Gripping, and slowly, but surely destroy
ing the BUSINESS OF the nation; and the
money used in productive industry that now
finds its way into the hands Of Government
employees, where all further knowledge Of
the most of it ceases; but by keeping the
peoples money in its proper and legitimate
channel, it would be the servant Of the
people and not their master, rs il now il.
The unemployed would find employment at
fair and remunerative wages they would
have the means to purchase the necessary
articles for family consumption the mer-
chant would then have sold his goods and
made his collections promptly, and business
in all departments Of useful industry would
be successful, the suffsl slings and privations
Of the poor caused by want Of employment
would have been avoided, the hungry fed,
the half naked comfortably clothed, and the
houseless and homeless comfortcd and
sheltered. This would have lessened theft,
arson, murder, and intemperance. It would
have built up our ruined commerce without
humiliating and expensive subsidies. It
would have given employment to hundreds
Of thousands that are now idle, connected
with this class of productive industry. It
would develop the now hidden resources Of
our iron and coal mines, build furnaces,
&c., founderies that would consume the
coal and make the iron from the ore that 10
now hidden in the earth blessing to man,
as it undoubtedly was intended by the
Creator. 1t would clear up our forests and
cause the streams to turn the wheels Of busy
machinery, the broad river to have borne on
our commerce. The great inland seas
would have been alive and studded over
with the white-winged messengers Of trade,
the locomotive whistle would be heard on
every bill, new and competing lines Of rail
road would have been built without aid
from the Government, thus giving employ
ment to the laborer and mechanic, and
creating home market for the products oi
al branches Of industry-we ssy all thu
could have been accomplished, and would
have been the results Of honest and wis
Legislation.
s'It may be said by the opponents Of on,
| nlatfnrm that In the nnurxe of tHentu rear,