The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1871-07-01
WHAT is MONEYi-No. VII.
BY WM. II. sYLYIS.

few remarks on the material" Of
money.
The reader will remember that /
have already said that the old idea that
only the precious metals are tit to make
money with is fallacy, and has been
adhered TO by those who have taken
upon themselves the management Of
financial affairs, for no other reason
than because it furnished the surest and
most secure means of controlling and
enslaying the productive industry Of
the world
For the first time in the history of
civilization, we find a widespread and
earnest effort il favor Of currency
made exclusively Of paper, and il is not
surprising that these efforts have been
opposed by many workingmen. We
have all been educated to the idea that
money could only be made Of gold. In
fighting this battle against the central
izing power of "gold money" and
against the whole monetary system as
ii now exists, we have to combat the
accumulated prejudices Of thousands Of
years, a vast amount Of ignorance and
indifference, besides the combined pow
or of the worst monied arstocracy in
the world
There are very few men, outside Of
those who control financial affairs, who
have given the subject of money any
consideration, and all who have written
upon it have viewed it from a gold
STANDPOINT
Workingmen, as a general thing,
have given the matter no attention
whatever. They have taken it for
granted that the subject was SO deep
and mysterious as to be entirely beyond
their reach. They have supposed that
only menTeducated in all the arts and
mysteries Of financial problems could
handle it; therefore they have given il
tue gO.by, allowing bankers, brokers
and other swindlers TO do their thinking
tor them.
One hum red and fifty years ago,
Bishop Berkeley wrote a pamphlet
called the Que,ist, in which lie took
strong ground against gold, and IN favor
of paper money. s. fierce was the de-
nunciation Of his work and Of himself
by the wealthy, and so ignorant and
Indifferent were the working people,
that his little book soon became obso-
lete, and for nearly a hundred years
the Idea slept: men who entertained
100 not bold enough to proclaim it,
1t was not until the great work Of Ed
ward Kellogg made its appearance that
any definite shape was given TO ID, or
that men began u study and compre-
bend it. This work made a deep inn
preston on the minds of a few men,
while the many cast it aside, and the
newspaper press almost universally
denounced it as the production Of 4
lanatic. In 1854 Hon. Alexau Ter
Campbell, Of Illinois, issued a pamphlet
called the {" Free American System Of
Finance" which was powerful defense
Of the Kellogg theory Of money. This
work was widely read in the West, aid
made many converts.
During the winter Of 1865 Mr. Kuy-
kendall, of Illinois, introduced a bill III
Congress, providing for a national cur
rency, to be exclusively paper, and
made very able speech on it. These
were widely circulated, and did good
work. In 1868 Mr.. Cary, Of Ohio, the
only workingman's congressman ever
elected, presented a bill looking to the
same end, and made powerful speech
upon it. These, too, were scattered
broadcast over the country.
In the meantime others had taken up
the subject, and it began to make slow
but certain progress. 1t was left for
the National Labor Union, at its second
session-August, lSG7-to be the first
public body to adopt it and proclaim it
to the world as the central idea Of their
platform and organization. 50 rapidly
is this idea Of a Peoples Money being
spread, and SO deep is is hold upon the
people, that its enemies-all who are in
terested in swindling labor-are bccom-
ing alarmed and beginning 70 denounce
It. This is the point we have long
been desiring TO reach, knowing very
well that Just 50 soon as fair hearing
could be had, our ideas would prevail.
The accumulation Of a vast public
debt, and a system of taxation the most
odiOus in the world, with a national
: bank monopoly and the gigantic
swlndles going On il all parts Of the
country, even il the treasury depart
ment at Washington, has opened the
? eyes of the people. Workingmen are
7 taking hold Of the question, and find it
no difficult matter to unlock the whole
mystery, and are astonished to learn
, how they are being swindled, and won
der why they never discovered it be-
fore.
The Speaker, Assistant Clerk, Ser
geant at Arms and Doorkeeper of the
New Hampshire House Of Representa-
tiyes were all elected on the Labor Re.