The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1871-04-29
GOD NEWS.
!. 6oeIk decision of the Supre,

GoOD NEWS.
--feceEk decision of the Supreme
Court, sustaining the constitutionality
of the Legal Tender Act, is among, if
not indeed The most important, as well
as opportune event in the history of the
Labor Reform movement. 1t removes
the only plausible objection to the
adoption Of the workingmen's monetary
system and financial policy, and is a
complete answer to all the twsddle
about reputation, irredeemable trash,
etc, that has heretofore been de-
nounced against the workingmen and
greenbacks, or peoples money, through
the columns Of the organs Of bondhold-
IS and bankers, and by their agents on
the stump and in the halls Of legisla-
ton. The only irredeemable trash now
in circulation is the greasy-back. labor
roobing bank currency. Greenbacks
are now absolutely lawful money for
the payment of the $50 bonds and all
'ebts, public and private, except duties
on - s>.s2d interest on the public
debt, ana ,ha oily regulators are those
o refuse to receipt thern at par in the
a sment of the principal of the $50
~ nds, and the government agents,
who are paying a premium on these
bonds.
1t remains to be seen whether these
law abiding, labor-loving editors and
politicians were honest in their denun-
citation of the workingmen and green
backs. To be consistent, they must nov
turn their denunciations against the
- holders Of our securities, who refuse to
abide by the law as interpreted by the
highest judicial tribunal, and the gov
eminent officers who refuse to obey the
laws thus interpreted, and also to de
mand the withdrawal of the illegal ire
deemabie bank trash from circulation,
and the substitution Of greenbacks, OF
lawful money, as the exclusive circu-
Iating medium of the nation.
There is, however, but slight ground
for hope that they will pursue any such
consistent, righteous course. 1t is
manifest that the plan Of the bondhold-
ers and bankers was to postpone the
settlement of this legal tender question
ana IN the meantime to continue pur-
chasing the bonds at premium; con-
verting the debt into unta1ed gold
bonds; Withdrawing the legal tenders
from circulation, and increasing the
wer of the national
- ..Iru 49, hole debt would be
enormous sum oe operation Of the law
best Eaaranty Of jas contracted, and the
Gle" has also pshpeople In the power
injuries since 10 of the banks. So that
w o0l.Ar. but little difference to
them go ths law was held to be
corr ~ or not
WhhS this righteous decision has
frustrated their schemes for the tine
being. he workingmen must nos fatter
themselves with the hope that they will
Yield Che contest They will not con-
sent that their golden image and bank
rebbing scheme shall be thus set aside.
They will be found in the next Con-
gress demanding that their golden calf,
whom they say all the world worship
eth, shall be reinstated az the object Of
supreme worship by this nominally free
people. Their prosecutions Of the
greenback, or peoples money, viii be
more / tier than ever.
ret en-, che producing classes would
ruainta their rights and protect their
interests against the unwarranted usuI-
pations and aggressions Of this un-
scrupulous money oligarchy, they must
grid themselves for the conflict. They
must demand, on the part Of the gov
eminent agents, Q strict compliance
with the law in the payment of the pub
lie debt; the withdrawal of all the cur
rency that is not legal money, and the
substitution Of currency Issued BY the
government directly to the people,
made legal tender in the payment of
all debts, public and private. and inter-
changeable at the pleasure of the hold
er for government bonds bearing ajust
rate of interest This 10 the only way
by which the value of money can be
regulated and the equitable distribution
! of the products Of industry and enter
wise between capital and labor 60
6red. This principle has been enun-
cia:sd, affirmed aud re-afirmed by