The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1873-05-24
Right of the West to More Currency

The Comptroller of the currency is IN con
slant receipt Of applications for more curren-
CIV from Western Bankers All the currency
Is exhausted, and the Comptroller cannot
furnish additional currency Under am IN
repealed act The West and the south are en-
titled t. S>5, OOO, 900 additional legal tenders
which it is mandatory upon the Comptroller
IT, withdraw from Eastern cities. The Comp
troller, however, declares it to lie both i'm
practicable and inexpedient "a comply with
the mandate Of that law E~piH4 JoHpnt
ri Saturday ms.
There is a positive law which the people
Of the Vest and South have right to
have executed, but this autocrat cnmptrol-
Ter refuses to execute It. Upon his mere
pS, dirit he pronounces it both ''impracti-
cable" and ''iDexpedient Why not favor
the people with At least plausible excuse
would he respectful, if It did nothing t.
removs the burthens Of usurers, and tax
gatherers in the agricultural districts and
produce markets West and South. But
no response il t. be heard from the Wash
ington autocracy. As no answer will be
gwen. We propose tn give few ~ the
many reasons for this ''nerpedi1,rgI and
",nplucticubjitH" To execute tie Law
would to the extent Of the pIttance grant
ed, relieve the general business market
from the pressure # paying interest upon
so. tSs). 900 bonds, aud reduce some nf the
two To three per cent per month usury
and brokerage 1t would be a small in
road upon furnishing money only for the
benefit Of tax gathering, gold gambling,
stock lobbng railroad, and other large
corporate monopoly interests To that ex-
tent it Mould give the people an opportu
nitv 10 secure triie of their earnings and
their products for their own use and COM
fort. As the money or currency Pedlers at
Washington manage and handle these laws,
this il the condition Of the money market.
The government keeps the circulation down
to about $500 OOO,OOO gathers rapidly
about $3.50, 600 900, holds large amount
in the Treasury, and pays it out through
a red tape long enough to span the CONT
nent. Thus il holds the money III the
Treasury so as t. enable the Treasury De
partment to astonish the common people
who are thus pluDdered, by glowing &C
counts Of the feats accomplished among
bulls and bears Of Wall street in control
ling the price Of gold, when the fact is,
the people are made to pay from twenty
five to thirty per cent for S5O0, 900, 900
foreign goods, because from the excessive de-
mand for gold to pay extortionate tariffs
and gold interest, gold is kept at premi-
um ranging from twelve to twenty per
cent. And what the government gold
gamblers, stock jobbers and Insurers do
not thus gather, the railroads, with freight
and passenger tariff rates, which now gath
er about 5000, OOO, 900 annually, take the
balance - that, through the instrument
tality Of robbery there are few rights and
little comfort for labor people, but e. earn
and donate Injuries, and clothe IN purple
and fine linen a government-prutected gold
gambling nobility, the people having, in
fact, 10 money but that which drops
through the government gold gambling,
tax gathering sieve. Instead Of executing
laws. they are only used to protect thiev-
ing and robbery.