The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1871-01-14
THE INCUBUS PRESSING ON THE
REPUBLIC.


I BY C. EDwARDs LHsrRa.--A0 l.
One clear, straight look st&he finan-
cial condition OF the country to-day, il
enough TO apPal the stOutest heart.
Since the death Of Lincoln, the whole
drift Of Congressional Legislation has
been to strengthen the strong and en-
feeble the wesk-to enrich the wealthy,
and imPOverish the poor. A Protec-
tive Tariff has made the manufactur-
ers the d1ctators of work, and financial
statutes have made the Bankers the
dictators of enterprise, and this gigan-
tic alliance holds the fortunes of the
nation in its Blerciless grasp. The law
has made the monopoly of money the
most profitable, and the most oppres-
sive business in America. 1t has made
money so scarce, and consequently so
dear, that nobody who needs it can get
it, and lsbOr's hands hang paralized at
its side The whole enginery Of Legis-
lation has been wheeled with stunning
force, straight against the breast of
toll Wealth has been suddenly with.
drawn from ten thousand streams Of
fertilizing industry, into a few great
channels while enterprise in all direc-
tons is withered, as field crops and
gardens are burned up by a long
drouth. There is nos0leye money enough
to do the business Of the coSnt,y sOiM. 1t
is all in the hands of the few, and the
many cannot get it. A pail is slowly
settling down upon the homes of the
people, and mems hearts are failing
them when they look into the future
while the few who understand The
whole matter, exclaim with whitened
lip and anxious brow, "What shall be
the end of all this-must our sun go
down while it is yet day 7"
But before it gets too late, had we
not better provide against the c4tastro-
pne i? He can afford to be- branded az
an Gl0rnsiss who saves the ship from
going down, or the house from confia-
grafton. It is the man who sees the
danger that has a right to be afraid,
for UndiscOvered perils alone dig graves
for men and nations.
What then is the matter? What was
the cause of our trouble? Who
brought it abouts Nobody Of any
sense denies the fact that things are
in bad way, and all the time getting
worse. Let us put the knife in, and lei
it go to the bone! First find out the
origin of the difficulty, and then apply
the remedy. Take away the cause
and the effect will cease. There is q
great deal of wise talk on this subject
especially in Congress, and the whole
matter is enveloped in smoke and dust
on all sides. Nor are all these obstacles
to clear sight a-going to be removed by
one stroke of the pen, or few -four
ishes Of rhetoric. We must bring the
entire subject to the test of good, hard
sense.
The nation is suffering with more
than one cOmplsint-it is disease
But the wise doctor tackles" one diff
ficulty at time, and the most danger
Gus one first
In our judgment, the first symptom
in the patient is depletion--too much
blood has been taken from him, and be
was Frustrated in the FIRST place by q
poor and insufficient diet His tools
were taken from him, and he could not
work. 1t exhausted him to live. BE
could not make both ends meet, the cost
of living increased faster than the price
of labor, on the demand for it. He
was getting behind hand, running
down hill. Business grew dull, for there
was not money enough to carry it on.
Enterprise died out, tor there was no
inducement to venture. Commerce at
home was inactive, for there was not
currency enough for exchanges. Dis
couragement to advancement had to
be met at every move, and the great
body of the community sank into an
almost hopeless depression.
In looking about for the causes Of
this lamentable state of affairs, few
figures shOne out clear enough to fix
the eye of all but the most careless
gazer. In following the alluring ignis
fdtUus of specie payment, Congress
began the fatal policy of reducing the
rOtGme of the currency, and calling in its
own notes (greenbacks) which were
drawing no interest, and allowing
1850 private banks to issue in their
place three hundred millions, on ba-
sis of Government Bonds, for which
it was paying eighteen millions per an
mum in gold! This act created the
most powerful monopoly ever set up in
free or slave nation. The Govern
nnent thus delivered itself and the people
oUer, hand and foot, to the tender mercies
Of "onisd GristOcracy, rAich has ruled
the country With rod of iron, and sub
jsct'd the entire body of the people, to it,