The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1870-11-26

alton as the workingman's relief And OF
this matter Of corporation | must say {
few words. | suppose you all understand
IT'S natnre, and as a system, its superiority tC
the Joint stock principle-for example. In
stead of paying dividends on invested capi
tai, il pays on production and consumption,
or on wages in case of production on the
amount bought in case of consumption,
consequently the producer and consumer,
the true creators Of wealth and profits
reap their Just dues.
Its democratic features-that Of allow
ing but one vote to each member irrespec-
tive Of number Of shares as also the lin
lting Of the number of shares, preventing
monopoly in government and monopolizing
the stock.
To hasten the contamination Of this sys-
tenn (Which | believe to be the ultimatum
Of the labor movemcnt) | hold that the
government should lend its aid-for if
governments are made TO protect the weak
against the strong, it follows it should be
interested in cooperation or in securing the
wealth to its producers.
Given that government hos right to fix
the rate Of interest on borrowed cash capi-
tai in order to protect the poo man and
merchant from the avaIice Of money lenders
Given that government has a right to es-
tablIsh system Of weight and measures
to be used in exchange retween man and
man. 1t follows from these premises that if
government has a right to regulate interest
on money, &c, it has right to regulate or
say hat shall be a fair per centage on in
vested capital. If it claims the right to say
tiat SIX per cent. is enough on loaned capi al, it
has the same tc say what would be lawful
and just profit on invested capital, seven or
fifteen per cent, as the case might be, and
all atOve or beyond this to be be divided
among the producers according to their
wages or amount of production.
1 believe that the great issue Of the
workingmen of America VIII culminate in
this demand--that as custom has made it
a necessary evil usury should be limited in
all eases, and allowing invested capital a
fair profit for the risk incurred-that such
profit should not be SO exorbitant as to
grind the workmen down in poverty, while
it lifts others up to be millonaires in name,
and ta'Ctuiiy there's and ertortioners az the
tr7te Christian sense.
The issue must and will be profits for
labor as well as capital. The government
will just as assuredly be called upon to pro
tect the interest Of the workmen against the
invasions Of capital, as that capital demands
and secures protection against foreign com
petition. This is fair, | think you will all
say. If mOnopolics secure protection from
the government, why should not its indi-
vidual citizens receive the same recognition
This demand will be for the masses by
the masses. No man should be a slave
No man should be a monarch. IT'S true
the interests Of labor are the interests of
capital. Did time permit, | could show
that this system Of Co operation will be of
benefit instead Of injury to the employer
as both parties would be interested in each
others welfare. They would be interested in
securing dividends. Ii has so been demon
strated wherever tried, and once adopted in
no case, to my knowledge. given up. There
are many practical eases in Europe and
America-many nave been organized dur
Ing the past year-which have proved
practical success 50 far as attempted. To
adopt this system would certainly be the
dispenser of much good and hrrmony where
now discord reigns supreme.
Tho y,raSonF Sr.tor,, = -
the principle Of feudalism-the strong do
take the advantage Of the weak in this mat
ter. Can tais custom be overthrown? 1t
can; and we can and must secure its de-
structlon-if we act otherwise under the
circumstances we should be crushed. Then
''If we have the power to sweep away an OBJ
noxious law or system if we have a de-
termined hostility to the same with this
power ; il we have the consenting iudg-
ment Of the most eminent economists, that
the law or custom is founded in vicious and
unjust principles being the cause Of injury;
if under these conditions the law remains
on our statute books, or the custom remains
unassailed, the men who complain and
pocket their grievances, are unworthy to be
called American citizens"
Then if you are brave, max known to
the world at once that this is the ultimatum
Of trades unlOns-pro6ts for labor as well
as capital--stand on this great, living. vital
and just issue, and the victory must and will
come. To secure Ibis will insure govern
meDt for the people and by the people.
Legislation controlled By railroads, banks,
land, and manufacturing monopolics, will
revert to the hands of the people
Trades unions must be the watch tower
of freedom and republicahism in America,
If we would preserve its institutions pure
and intact And when | say this, it is be-
cause | see great tendency to centraliza-
ton in the elements Of power. 1t is law
Of nature for all things to tend to common
center. The law Of gravitation demonstrates
this in the world of matter. The history of
the rise and fall Of empire has proven it in
the world of man. The examples of Christ
and Humboldt prove it in the world of spir-
ituality and mind. This same power is 81
lently operating in our nation. The mighty
corporations or money monOpolics are grad
ually approaching the current Of the vortex
which will ultimately be the wreck of the
ship Of State The power in the hands Of
the few,where is to be cur republic ?-mOst
likely up for sale as was once the Roman
Empire, to be bought by the highest bidder
at the sound Of the auetioneer's gavel The
banking and railroad interests Of this coun-
try are dangerous powers to republlcani,m
A few years ago the government was owned
by the people-now it is owned by sohat Il
only name for naonOpoly-Na
Banks-that exact outrageous usurY-con,
trary to their national charter. and in direct
transgresson of the law Of the State which
fixes the rate Of interest.
A few years ago the myriads Of railroad.
Of our country were owned by the people
Now four corporations control the whole
system more or less. and like sharks de-
vouring all within their reach. by theil