The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1870-10-01

ender, greenbacks, 1886, LOG, 2j6. Frac-
ional currency, also grcenbacks, $780,
-56.6S4. The present National Bank
ssues, including the $4,000, 900, an
horned by last Congress j., S34f,7s9,-
5g5. making il all, S7iO,Gi6, s25, leav-
NO an estimated deficiency Of at least
$3.50, 900, 900, which you feel in the
great scarcity a money 10 remove
your crops now IN your grain stacks,
floors or granaries, TO market,
to supply consumption. where the con
sumner is suffering in like manner from
the same cause-obliged to pay and
endure exorbitant rates for bread and
YOUR grain ard other crops are rotting
upon your hands for want Of money
enough To remove them which a. ma
nipulated by commercial men TO then
own interest, and always more favOra-
bic TO them when money j. more scarce,
forces You to take a low price, and the
consumer 70 pay a high price, and they
pocket the gains
Now as grcenbacks are the only mo
ney in circulation that Is a legal tender
and does not contribute to this swindlp,
YOU need not wonder at the war made
upon them as they are the only thing
ID the way of complete monopoly Of
our currency by the National Banks;
and it is the avowed intention of the
supporters Of this financial swindle 70
withdraw I'll greenbacks from circula-
ton and supply their place unlawfully,
with National Bank money; unlawful
" because the creation ot the National
Bank system Is unconstitutional.
Now suppose the purpose o. these
schemers was realized, and they have a
complete monopoly of our currency,
the insuthciency Of money would be
come far greater than now, for the in
creased demand on account Of increas-
ing population, and the growing wants
ot commerce would place the Ildustri-
al class absolutely at the mercy Of
1 bankers and bondhOldcrs, for they, a.
other men, work for self interest; ana
/ they would command whatever rate Of
interest they pleased, by contracting
the currency, and We could not help
ourselves. But for illustration, look at
the figures. If the National Banks had
the monopoly they seek, and THE cur
rehcy would not increase, nor the IN
terest on ID, we would have an annual
loss To labor Of l7 per cent On S74O,-
! $40, s23, which is $l25,909, O,or more
than Sd dollars per head for every man
woman ana child in the United States
grccdly and mercilessly gObbled up
by this machine to rob the poor But
when We take into the account the fact
that the banks increase the rate OF in
terest in proportion 70 their power tJ
al ~, ami the rapid increase Nj pop
ulation and commerce, which will soon
require double the present volume q
currency, the amount Of annual los tu
labor will be incalculable. and the des
parity between the rich and the pOoI
viii W greater than in Europe. II j,
estimated by profound mathematician
that if this accurScd National Bank
system l. continued for fifty years Urn
checked by a revolution, that a free
people are likely 70 make, 70 throw a
this incubus upon labor, The who'll
property Of the United States viii be
come capitalized, and the people wal
stand III the same rotation ID the Ma
! tional Banks as the pauperized tenant
/ nv of poor ireland now stand 70 tn
Bank az England, notwithstanding th
wonderful energy, enterprise and VI
tality OF our people and the maryelou
fertility Of our soil. For owing TO III
accumulating power Of money, Til
rate of IL per cent. loss T. labor, VIII
il the borrower, will accumulate in Ill
hands Of the lender An amount cqua
to the amount loaned inside Of fiy
years For tile calculation VIC VIII
suppose your share Of the debtor loa
is 800, on which you loose l. pc
cent compounded every wear. Till
second wear We loose IN SIl7. thu thir
SI3G.39, the fourth, Sl6o.lG LIS, th
fifth. Sl~1.3S --~,and m Tho commcnc,
ment ~ the sixth year you are LOOSEN
on S2I924I-2, At this ratio of mcrcas,
if continued upon the present volum
Of currency, would swallow UP III
whole material wealth Of our nation
pauperize our labor and cOmmercii
classes, ana destroy our Republica
government in twenty years
Second, The appropriation of I'll
public lands NV Congressman anon
themselves, by Congress assuming {
exercise the power without authorit
under the Constitution To dO auythIn
Of the kind, is not less remarkable f
The bare faced impudcncc with whic
IL y done, than the quiet submission ,
the laboring classes, who are the victim
Of this lawless legislative robbery
This feature ~ tile more rcmarkab
because Of the general opinion anon
the working people that Congress ha
absolute IOwer % dispose Of m n
public lands, and while deplorug n
wide spread misery tho eNtravagar
grants Ut land brings upon the peopl
who suffer from the effects Of land IN
nopoly, they arc 50 deceived that D,
one il ten thousand asks whether Col
gress has really such power, With n
Constitution Of the United States
d dlulOSL tNNiN IOA~tY Ilt All Altlll
be familiar with il, and many able
quote it by heart, the power elaine
by Congress ITO dispose OI " the publ
lands Is generally conceded, while Il
Constitution nowhere grants COngre,
any such power; ~ which special y
tention is called. And as an inyariab
rule by which to understand the Co
sutution, it must bc distinctly borne
mind that every Article Of the Const
tuition relates TO but one subject ; an
d every section relates To but one part
the subject Of the article wherein il
found and every clause in sectiC
relates " the same subject. The Pr
) amble is a statement 81 whom The u
, thority comes from, and the pmpos,
, for which the Constitution vas mad,
to which all laws " tile United stat
; and every part OF the Constitution j
self must conform. The First ArtiC
{ .