Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1870-12-06

| large. auu through ltS proper oISSuuILd'lOu-
the government or, should it be handed over,
/ aud transferred to Banks and Bankers, Brokers,
Shavers, aud insurers? This is the question :
Now, listen: If you require the government
to Issue money, aud the government will issue
| thirty dollars to the head of all the population
of the United Safes you,-the people-will
be able to make all your exchanges for about
one and one tenth the cents in dollar but,
! if you suffer the government to hand 1t over
! to Bankers, and Shavers, and usurers, to fur
| nish the currency, instead of its costing you
one and one tenth per cent it will take out of
every dollar you exchange ten cents IN each
! dollar!
The difference in these two rates is inn
mence What we want is cheap money The
interest on money is the rate Of exchange: /:
That is to say. if money is at six per cent, it
will cost every man who raises wheat or corn,
! exactly six cents out of each dollar, to ex-
change his whent or corn fol whatever he may
| exchange his wheat or corn for; and, so too
if money is at ten per cent. Now, we desire
to exchange whatever we have to exchange,
at the smallest possible loss or rate of ex-
change. II tire interest on money is six cents
in the dollar. then it takes six cents out of
every dollars worth of labor or products to get
what want; We must pay that to get what
| VIC want: If the interest is ten cents, then.
on every dollar Of labor, or on every dollar of
| the products of labor we must pay ten cents
address mysefn now, to every laboring man
in the community, who formerly paid six cents
out of every dollar he expesd ded in a store, or
elsewhere, to show him that since money has
been raised to ten per cent, he pays exactly
four cents more to effect his exchanges, on
each dollar than he did before; for the rate
Of fMte,e est is the rate ef ccchamgel
How then. can the peoPle-ulI the people
have their labor. and the products of their
labor exchanged at The smallest cost
If money is issued by the government, it
can be made cheap DtOncy, and can be issued
so cheap, that if they wish to borrow it, they
can borrow it, on landed security for one aud
one tenth in the dollar! If issued by bankers
and brokers. it will, now, in Western Nir-
ginia. cost them ten per cent, and in Eastern
Virginia twelve per cent.
Which of these two rates, o, ye sons of
toll and producers, do ye choose !? One and
one tenth of cent out of your hard earnings
for currency based on lard, and not only
equal to gold, but the better aud broader ba
sis or do you prefer the 90id G"Sjs, that leads
to the New York specmlations in gold, in
which gold in value, vacillatcd sixty per cent.
in twenty four hours.
Before concluding this article, desire to
show to the day laborer his interest in the
two systems OF exchange-thc two systems Of
moncY!
IF money, instead Of being furnished at
SECOND hGhl, and hv monopoIizing brokers,
and shavcrs. and bonking corporations; is
furnished by YOU. who to it, and
through your own government. you can have
it to exchange your labor or your productions,
be you ri,h or J,oor. for one and One-tcnM of
a crir i'll each dollar: II, on the other hand,
it is furnished hy individual brokers, and sha-
vers, aud corporations, it will cost you, and
will take ou, of every dnlar's labor aud pro-
duets, ten cents in each dollar!
now, in conclusion, ask. have the labor
ing poor. or the producing rich. ever cOnsid
cred the magnitude of this question which
they, the poor and the loroo"cj"9 rich, have,
in common against the manipulating, hond,
holding, Mirrih money power, that robs and
enslaves them? Aye! robs and enslaves
them by virtue of power-the power of mo-
ney-whch they themselves created simply
for the purpose of exchanging their labor and
products and which. power, created by
thom-their own joimt iNSyrumcnt-hus been
seized ard appropriated by these kDaves and
scouudrels without producing single thing
of value to the commuuity-to charge them
the day Mborer and the rich IrodWcer-
from ten to twelve per cent. for the use OF
then. o,en credit | say their o'cn credit. be-
cause have already shown that money is the
conSoli0Gfe! credit of those who instituted it
for the purpose of exchange.
One word more aud / have done; and
desire to address this word to tho nlultitW9i-
nous poor. who. so help me God. l believe are
the ''multitudinous poor" simply through the
enormous and perverted abuses of the power
T. IL. AL I, ,,-l,;
they arc poor will show it /: IF am COR
rect that the whole people, issuing money,
could effect their exchanges for one and one
tenth of cent, instead Of ten cents in each
dollar when issued by individual brokers. and
shavers, and bankers. then it follows. that
between the two modes of issuing money to
exchange labor or products. every man who
used money to exchange his labor pro-
duets, would save eight and nine-tenths of
cent in every dollar by money issued by all
the people. and in partnership. as against
these monopoliLipg scoundrels who now fur
nish the currency; and in all probability by
bribing and suborning the servants of the
people.
AS rroof of this, take the case of poor
man at seventy years of age, who has worked
hard and honestly all his days. but who has
accumulated no property. because out of every
dollar he has used from the.time he was twen-
ty until he was seventy-that is fifty years
he has had ten cents taken out Of each dol
lar to effect his exchanges. I say, take that
case, and then if his exchanges could have
been and ought to have been effected for one
aud one-tenth of cent, instead of ten cents
in every dollar that passed through his hands,
give him drawback with interest on it. for
every dollar that passed through his hands
r., Il OF haIO in nj
days, and at seventy, a pauper, he would be
the owner of a farm. Where is his farm p
In the hands of Peabody. or Vanderbilt. or
Stsvark or snn,e other snecnlatnr who nnder-