Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1872-10-08


harsh and oppressive measures towards the
South, and all the extravaganza, nepotism, pee
ulation and usurpation which have prevailed
during his administration. Nay more it will
be claimed as warrant from the people them
selves, to persevere in that policy which has
proved SO disastrous to our interests.
My friend, HonsR M. Z. Hunter. in his adj
mi: able speech, recentlysdeivered in New Y rk,
has clearly exposed the tendency of General
Grants administration to centralization He
has also directed public attention to the infu-
ences and agencies which are at work in sap
ping the foundations Of our republican institu-
tons.
concur in all that he has SO well presented
to the thoughtful consideration Of the Ameri-
can people.
If he had chosen, he might have gone step
farther and disclosed the hidden power which
underes and stimulates into action the danger
Gus elements to which he referred.
That hidden power is the money po,oer Of the
North, A few words Of explanation will un-
fold my meaning ea H8 49,
The two great interests of every civilized
community are labor and capital, represented
employment and the capitalist furnishes it. The
one is the hirer and the other the hiree. The
interest of the laborer is to get the highest wa
ges ne can tor his labor, while, on the other
hand, it is the interest of the capitalist to get
| the largest amount of service for his money
1t is obvious, therefore, that between these two
interests there is natural antagonism. One has
| labor to sell for money. The other has money
to sell for labor. Each wishes to get the best
price for his commodity, and their interests are
as opposite as the poles.
| This antagonism is not necessarily one of hos
tility, though by injudicious regulation, it may
| be made to assume that character. Properly
| understood, the relation is one of mutual ben
| eft and of harmony.
These great interests naturally impress them
selves on the institutions and policy of every
| Country. Labor is the interest which is most
widely dlttused, for, by the fat of Heaven ITSELF
every man is required to eat his bread In the
sweat of his face. Capital is the accumulated
product OF labor, and is in the hands of the
| fortunate few.
The normal tendency of LABOR is to democra
cy or the dominion of numhecs-of capital, te
the concentration Of power In the handso the
few. The reason Is obvious Labor is the In
| terest of the many-capital Of the few. Where
| labor predOminateS, numbers will govern, and
the institutions win be free. Where capital is
the controlling interest, power will be in the
hands of small minority. ~
| 1t is one OF the highest Offices of statesman
ship to harmonic end preserve the proper bal
ance between these great interests By wise
regulation, the antagonism may be made like
that of the opposing sides of an arch, an ele
ment of strength rather than of weakness
But If either be allowed to gain undue pre-
ponderance, mischief and danger must ensue.
Before the war, capital and labor worked to.
gether in harmony. The proper equilibrium
existed. Capital paid fair wages to labor, aud
labor rendered a just equivalent of service to
capital
| Not the least DISASTROUS of the consequences
which have followed in the train of the late
war, was the disturbance of the balance be.
tween labor and capital in the Northern States,
The mushroom accumulation of capital grow
| ing out OF government contracts, speculations
in bonds and stocks, fluctuations 10 the curren-
cy, and the creation of thousands of National
Banks, founded or National promises to pay,
have caused an enormous development of cap
| ltai, and given to its possessors an undue as
cendancy over labor. This ascendancy, it has
naturally sought to preserve, consolidate and
/ perpetuate.
The money-poWer has obtained the control OF
| the Executive and of Congress. The means
employed TO accomplish these results are too
well known to require special enumeration
| Splendid gifts have been made to men In Office.
Rings have been formed 10 Congress for purpo-
ses OF plunder--a gigantic system of u. s.
Banks has been Incorporated, by which bond
holders have been enabled to receive not only
interest on their bonds. but duplicated interest
en- Bank notes, issued ,on the faith OF these
bonds. The rates OF interest have been greatly
increased, and all State Banks have been crush
ed out Of existence, so that the bondhoiders
may have the monopoly Of money-lending at
double interest. Monster railroad corporations
have been incnbated in Congress, and endowed
with millions of acres of the public domain. -
| how hoon Tror
in the pockets Of the few at the expense of the
many, and other devices have been adopted,
which il would be tedious to enumerate, for the
purpose Of swelling the gains Of capital
The laborlng, population have seen and felt
these evils Probably without understanding
the ingenious process by which they were OPP
pressed, they have nevertheless felt the fact
that they were oppressed. Hence the wide
spread discomfort that peryades the laboring
classes. Hence the labor unions and the strikes
among tradesman, that are of almost daily oc-
currence. Hence, in word, the constantly re-
curing, but futile efforts of labor, by local COM
bnations, to rid itself of the exactions of cap
ital.
| Il is time that the laboring masses should
understand the true source Of the evil, and the
| only efficient means of arresting it. 1t should
| be explained to them, that capital has got pos
session of the government, and is using its
| vast powers to the injury Of the interests of
| labor.
|. It is vain for the unorganized masses of
Flabour to struggle against the disciplined hosts
of capital aided by all the machinery of the
| Federal government.
| 1t is this great money power which has put
| into active motion all the agencies which are
| rapidly concentrating all power in the hands
| Of the President.
| 1t is this power which, by artfuls manipula-
| tons of the currency, has oppressed agricul-
| ture, commerce, and manufactures.
1t is this which has depressed the value of
property to enhance the value of money.
1t is this which has increased the rates of in
terest to the injury Of industry in all its depart
ments.
1t is this which has subsidized the govern
ment ITSELF and now supplies the sinews of war
for the Presidential contest
1t is this which has multiplied the hordes of
office holders, and now seeks, with the people s
money, to buy up the people themselves.
In all ages, Capital has been timid. It
breads the instability OF public opinion. 1t
fears change. 1t shrinks from the struggles
and commissions OF &turbulent democracy. It
delights in the security ola strong government.
1t would gladly repose in the shadow of an
Imperial throne, rather than hazard the res
toration of government founded on the will
of the people.
These are the ideas that are daily giving
strength to centralism and causing the ship of
State to drift towards Empire.
If any one doubts the soundness of these
views, let him go to the North and converse
with the wealthy men of that section. He will
frn nj, %hot kho-,