The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1873-01-04
CURRENCY NEEDS or CONNIE RCE
National Paper nOaey, 1aGerc ha RgAble via
GOVerAmeaG BSnds Advocated.
Lecture by Mr. Wallace p. Groom.

Lecture by Mr.. Wallace p. Groom.
At the request Of many Of the promi
nent citizens Of the New York, lecture
was delivered upon the above subject by
Mr. Wallace p Groom, editor Of the New
York Mercartiie Journal, on Tuesday eve
ming, December IL, at the Hall of the
Young Mems Christian Association. When
this lecture was first projected it was ar
ranged that Horace Greeley should preside;
but Providence having ordered this other
wise, the chair was occupied by Edward A.
Jones, Esq, President Of the National
Life Insurance Company. MIR. Coon,
being introduced, said:
Mr. CHAIRMAN, LADIES, AND GENT ENEN
1t is not too much to say that there is
nothing else of secular character of 50
great Importance to the masses as the Sc
curing OF healthy condition Of the circu-
latIng medium Tor this Is the III, blood of
commerce. The currency question has not
only been sadly misunderstood, but It's dis
cussion, from some inexphcable reason, is
looked upon by many AZ comparative
waste Of time. We trust, however, that
we may be able to throw some light upon
the subject, and to 50 portray It's Import
ance as to obtain your closest attention.
And may We not ask you kindly, yet
most earnestly. to lay aside for brief
space the preJudioes which you have Im-
blbed, unawares, IN relation to the Cur
rency Needs Of Commerce, that We may
the more easily come t. understand the
methods Whereby those needs can b5 most
readily and surely met. Most people are
ready to say that they are open tO ounyIe-
ton, claiming that their minds are free
from bias relative to tins or almost any
other matter that they may be asked to
consider. In thus believing, however,
they At least deceive themselves. How
many persons do We know that cannot, IN
i,.ct, whatever be their pretence, give All
intelligent reason Why they united with the
Episcopal, Presbyterian, OF Methodist, III
prcfereIoe Lo some other orthodox church.
the truth Is ia thousands Of CLscs, they
are simply following in the footsteps Of
fathers and mothers before them, vino
AIk,d with the church to which they now
ing and they grew up init. AND IA po-
nJIcal matters IS 1t not almost universally
the case, a. the father votes 50 votes the
SOM Ali this is natural, and we like to see
the young reverence the views and feelings
Of their parents and others Of maturer
years, provided this apparent parrot-hke
imitation does not come of thoughtlessiless.
We hold that each person is individually
responsible for the soundness of has opln-
ions /; and we confess that there is mach to
admire in the inquisltive disposition OF the
little boy who was told the hrst day he
went tn school that the name Of certain
character FIRST letter Of the a iphaOet
was A. Doubting the proprlety Of bellev-
ing the statement without = good reason
being assigned, he asked the teacher, some
what to her annoyance, h0S she knew tlat
was the right name. When told ~ the
place Of proper expl lAnatlon-that his
teachers teacher told her 81, he promptly
asked how teacher No. 2 knew, and was
not satisfied on being informed that teacher
No. 3 had told her. He therefore pressed
the question far enough to be told that
teacher about No. WAS taught to all 1t
A by teacher No. 9; and then, perhaps a
little impatieutly said How did that
teacher know that her teacher LI.Ii tell-
a-mistaken y
But, in all seriousness, it is high time
that we think for ourselves, making good
use of the experience Of those who have
gone over the tield before US. 1t is sad to
know, but it is nevertheless true, that our
every thought is warped more OF less by
prejudice. 1t is well, however, that all
men are somewhat inclined to hold on to
old theories, habits and customs, but is a
great misfortune when they become 50 wed
dcd to them that they are not only made
almost totally blind to the onward move
ment Of civilization, but become bigJted,
and hence, virulsnt OpPOsers Of progress.
Prejudice is the great enemy Of truth
the chief obstacle ~ science and philoso-
ply . veil which clouds perception; a
moral narcotic which Supplies conscience (.
the parent Of intolerance and bigotry
Then let us, for brief space, so far as
possible, lay aside our prejudices and rea-
son together upon the question before US
The Currency Needs Of Commerce. "
And in considering this subject, let not
candid and frank utterances offend, but let
US all sndeavor to search out the truth,
grasp it firmly, and brand the false theories
which abound, 70 that others less favored
with opportunities for research may receive
benefit from our lAbOrs.
Some lady present may say to herself,
this matter does not concern me it is oaly
important to men who attend to the more
active business affairs Of life This is a
great mistake. Every man, woman and
child has = deep and abiding interest in
this matter, as we trust all viii be ready t.
admit before We have done.
II is necessary, in order to make any gen
uins progress in the examination of this
subject, to have fair understanding Of
what money Or currency really is what it,
functions are and, also where the power
to make q legal tender lies. This bringl
us down to the base line of one of the nIost
important and yet one Of the most sadly
neglected Of sciences known ~ Politica
Eenomy. Unfortunately for the country
tM great mass of the people can scarcely
be said to have even faint idea Of what i
teaches.
With u government ID made up Of indi