The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1870-01-08


4 then we can get along without tar
i'd, money will bring better return BY
being invested in other pursuits, than
banking-pursuits that will give en-
plOyment 10 the 35 900 men that have
left 35 900 women in Massachusetts 10
live OH a cracker per day--to beg or do
worse. Our Statesmen lift up their
hands and look with horror upon the
proposition to pay the bonded debt with
money not made of gold, but we pay
! no heed to their EXPLANATIONS. One !;
and indeed l may say several of our
Senators have admitted, that the reck-
less capitalists who are engaged in car
rying on National Banks-runs the
Congress. But we can inform these
reckless capitalists that We are prepar-
ed to meet the questioned furnishing
a legal tender circulating medium called
money to be Of engraved paper, and
possessing all the legal properties and
powers Of money made Of gold, silver,
copper or nickle. We are prepared to
meet the question in all its aspects
constitutional, legal, or political-and
we can also inform them in advance
that we will meet it at the polls-that
we have the constitutional right and we
have the power to decide it. That is
to say, we have the power to decide
whether the bonded debt, where the
contract calls for payment in lawful
money, shall be paid in what it calls for
or whether after the bond holder has
received back as much gol1 in the way
Of interest as he advanced he shall new
er receive another cent Of interest or
principal As the matter now stands,
for every individual that holds bonds
and National Bank stock, it is safe TO
say there are two thousand voters that
don't hold eiiher-and it only requires
one lesson to teach the two thousand |
that they hold the balance of power.
| have written hastily and have no time
to elaborate logically the propositions
relying upon Mr.. Trevellick and per-
haps others Of the Labor Union who
may attend your Convention. would
beg Of you however, whatever may be
your action about local matters that
you keep your mind firmly upon the
main stand points in the Philadelphia
platform. We never can establish a I
just medium OF distribution betwe cen la
Dor and capital until We have all the
money needed for business at AZ low a |
rate Of interest as prevails in Europe
BY paying of the present bonded debt
we thus put into circulation as much
money as the people may need. The peo-
pie who by physicaland intellectual labor
produce all that is needed in providing
food and shelter-need the necessary
implements and tools. and since they
must have legal standards fixed by Con
gress for weighing and measuring val
ues and products-they need also le-
gal standard which only Congress can
establish for representing values, ex-
changing and measuring values-and
as the standard representing, exchang-
ing and measuring values, TO be legal
must be authorized by a law of Con
gress-it matters not to the people who
produce the values whether the sub
stance Of the material possesses com
mercial value as a commodity. Indeed
since money, Ito be lawful money! must
possess legal value and power to meas
ure, exchange and represent legal value
it is of no more consequence of what
material it is made, that whether our
sugar and molasses is weighed and
measured with brass or iron-commod-
tiles should not WV put 10 uses or used
as implemement- when material can
be substituted that has no value as
commodity. 1t would he as unwise to
use yard-sticks made of gold as to
NIKE dollars Of gold-bo'A have the
same legal properties impa, 90 t. them
by Congress. and it is a. unwisr 10
withhold from the people the necessary
quantity Of legal dOllars-ur "a hand
over the control of the legal dollars to
corporations to he loaned Uni for inter.
est-giving to corporations monopoly
of that legal standard for exchanging
and measuring values as to give them
control of any Of the other legal stand
ards-such for example as scales for
weighing coal, iron and the like, ana if
the coal digger were obliged to pay an
interest or rent for the scales to weigh
and measure coal greater than the
amount received for the coal, it would
work no greater hadship than to charge
a rent or interest for use Of money
greater than can be produced BY its
use-and until we have our monetary
system placed upon n foundation that
will afford a sufficient amount at as low a
rate of interest as prevails in Europe
capital will continue to take all the nett
productions of labor and the Only way
in which there can be established a just
medium which will equitably divide the
nett productions between capital and |
labor, will be to pay off the bonded
debt in lawful money as called for in
the bonds or to wipe it out by repudi-
ation-as before stated the people have
the right and the power, to decide which
course they will adopt. This is ques
ton Of political economy that concerns
all laboring men alike. The condition
has been brought about by wrong legis
lation il must he corrected by legisla-
tion-and in order to make the proper
correction when the time for action ar
rives, it is If the first Importance that
the cOlOred men place themselves upon
the Philadelphia platform. | hope
therefore that you will in yOnr dellber-
atoms conform to the main stand points
herein referred to.
4 am-very respectfully,
Your Obedient servant,