The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1871-04-15
THE INCUBUS PRESSING ON The
REPUBLIC.
BY G. EDWARDS LEsTER-nI.


In our first number We glanced b1 lefty
at the widespread evils which le4sla>
ton for monopolists and capital had
brought upon the people and labE of
the country.
In the second number we shk wed
that no relief could come, except BY
making money cheap, and that this
great principle of interchangea5 ility
or convertibility OF currency into bonds,
and bonds into currency, at the option
of the holder, would regulate the
amount Of money in circulation in ex-
act accordance with the demands If the
country; how this would convert the
banks, and even the public debr, into
blessing instead of curse.
In this-the third-number Of our
series, we propose TO show how to
bring it about, and how it would work.
Little did we then hope or dream
that any such measure was so near be-
ing introduced into Congress nor,
-rtssr OF ali, Of the quarter from bich
it would come. But, on the 18th If
March, General Butler, of Massa-
chusetts, introduced into the House Of
Representatives bill which covers the
very ground we advocated. The fol
lowing is a clear and faithful description
Of General Buffers
sELF-ADJUsTING CURRENCY BILL.
Its object, he declared, was 10 make
the volume of the currency self adjust
ing, according to the wants of the
people, and il provides for the prepare
ton Of bonds Of the United States Of
the denomination Of 500 and Upward,
bearing interest at the rate of j 65-IOO
per cent. per annum, said bends to
clearly express the right Of the; United
States TO change said rate of interest
after notice by the Secretary of the
Treasury shall have been given and be
conspicuously posted in the Offices Of
the Assistant Treasurers Of the United
States for one year prior tp such
change; said bonds, when ptlpared,
shall be lodged with the Assistant
Treasurers in amounts proportibned to
the business of their respective offices
at the discretion of the Secretary OF the
Treasury, and shall be charged to the
Assistant Treasurer on the books of
the Treasurer of the United States. 1t
shall be the duty Of any Assistant
Treasurer to countersign, date ind de-
liver said bonds in sums OF Sl0Q or any
multiple thereof, to any person who
may pay therefor their par valrie in le-
gal tender notes of the United States.
When any person shall demand of any
Assistant Treasurer redemptiot Of any
Of said bonds. it shall be the du.y of the
Assistant Treasurer TO pay in legal ten
der notes, which the Secretary of the
Treasury shall furnish to him, for that
purpose, the principal of said bonds,
with the accrued interest thegeon. and
to cancel and forward the bonds thus
redeemed to Washington fort hwith, III
such manner as the Secretary of the
Treasury shall prescribe.
This is what the nation wants, and
what the nation will have. Even mon
opollsts themselves cannot oppose it..
In our last number we spoke of the
grand and blessed results which would
follow such law, and we shall hereaf
ter dwell OH those results which would
be just as sure to come as thevegetable
world puts on its green and opens it,
buds and flowers when the. sunshine
aud warm sunbeams of universal spring
arrive. Then it is no longer the hot
house nor The garden of the Rich man
that exuIts in artificial warnth and irr-
CATION; for the Universal Father rains
and shines on all His childret.
But now, let us press few other
considerations; and the first il the dulv
Of wOrkingmen, and especially of the
great army gathered into d: fold of
the National Labor Union, at once to
60 to reading and talking about this
suhject-inside their meetinga, and out
side TO their NEUTRALITY-SUSPICIOUS.,
in season aud out of season. There is
not time during this short ses&oL Of the