The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1872-12-28

from government on it, bonds, and another
interest from the people on its bank billn.
This iniquity il . result Of legialation &C
complained by the tools of the m0neyed
power, men selected from both Of the great
political parties, so that, whether repubh.s
canism or democracy Be successful, the
mOneyed power has labor under its numb,
and yearly Squeezes from it Millions on
TLlhons. The alliance of labor with either
q the existing political parties, in the hope
% oetteF1ng themselves, IA therefore n de-
mmon, because thess parties do not repre-
sent labor nor minister TO its Necessities.
But the industrial Glasses must co-ope-
rate, and they must have money to do this
enectually. How are they TO get in BY
adopting the system followed BY their ad-
versaries. They must obtain control q
state and federal governments, through n
great political organization. And the rul-
ing idea and vital principle Of this organ
'7~t'1n must be the union Of capital and
labor.
wsll. would you force rich men 70 lend
their money 70 the poor, or the mill owner
20 share his prOfta with the operatives
kNON NJ 8MAs MAUu 1NC NuAgu " bAAnAE mecca
sities, the rich equally with the poor II
was doubtless disAgreeable for the southern
Aristocrat TO give up his slaves, but under
thechAngwl conditions of to-day he IN will
ing TO give them large share a the profits
In consideration Of their labor. Take away
labor, and neither northern or southern
aristOcrat can have even dinner. Abolish
the National Banks, call in their circula-
ton, and where will the mnnied power be
Helpless an an infant, restricted t. the
simple interest ON its bonds. Establish
federal banks in the place Of those institu-
4 tlona, through federal government con
trOlled by the industrial classes, and then
existing capital and labor will stand face to
face a equals, one having the buildings
and tools, and the other the skill and
strength TO use them. The money requis-
its to set in motion this fixed capital and
labor Ia lent by the federal banks, not 10
rlch individuals, but TO the general co-Ope-
rAtiVe associations that will necessarily
grow out Of the changed condition Of
things. Labor will then receive an equi-
table share of its earnings, and 10 hence
forth joint and ednAl partner with capi-
tai in all future accdhulatiOns. As capital
will have no distinct accumulatiVe power Of
its own In the course of n generation la
Dor will possess everything, and poverty
and misery and wrong have ~ place among
IN.
This gigantic change, implying as it does
. war upon the monied power and existing
financial usages, can be inaugursted and
carried TO q successful termination by the
simple power Of the ballot, welded by an
organized industrial community, -
accomplished by degrees, without disar-
ranging existing productive agencies to any
material extent. Capital will speedily
adapt itself to its changed conditions, and
At one stroke labor cuts the Gordian knot
which has fettered it tor ages. How insig-
nihcant are the timsy issues Of the politi-
clans, when compared with change which
gives to present and future labor its vast
earnings and accumulations
Capital obtains it's present pre-eminence
and power solely through control of the
circulation. The press teens with the cor
ners and financial rascalities Of the mil
honAires" that have sprung up the mush-
rooms, during the present generation. Take
away from these men the controlof money,
by the abolition Of the National Banks,
and their occupation is gone. Their boast
81 wealth. Will DO IOulu 10 cOnSlBt VI Bpurl-
GUS stocks, made by watering, the real
interest from which will soon dwindledown
10 little more than comfortable support
This financial revolution projected by
the Industrial classes contemplates no plum
der of any other class Labor simply puts
an end TO the Ilunder of Itself BY other
classes, for ell time to come. The whole
movement contains no complicated princi-
pie OF action 1t 10 simply a carrying out
Of the existing processes Of trade upon a
new basis. There will be capital and
there will be labor, united together and
wof 20 for . e0nAaOn end
~frf Inc et'ssraaaAAsA-- -
Of cspital as borrower. The whole com
phcated business Of the country is now
carried ON through borrowing and credit,
more or less. The whole circulation of tho
National Banks is constantly borrowed Ii
is issued solely through lending. The in
terest paid by one man or another ultimate
ly falls upon the industrial classes When
federal banks are established, all this vast
interest is cut of, and the only expense 10
the cost Of issue
There il n bright future IN storefor labor,
but il must b. achieved by organization.
J. +. BRAY.