The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1873-09-13

I
average rate Of interest upon II and upon
securities, and property calling for 6Xed
Interest on rent In money, to something APP
preaching the average net increase OF the
other values Of the land But while
think ample power rests in the HenepAl
government, and may be more benehcent-
ly exercised by it, l am not unwilling q
see the states strike at the evil am vii
ling to see them destroy part of it, i
they can. Ohio does this as to loans mad,
IN the farming districts, even though ''th'
ways that are dark Of commercial centeri
paralyze the usury laws there. The fac
that the National Banks disregard the ma
tional law upon the subject, proves moth
ing except that the general government il
inefhclently or unfairly ADMINISTERED fol
the National Banks are its creatu)rs and
their charters may be taken try4n them
They may be stripped Of the hlgh prerog-
alive which has been unjustly jven them,
Of making a large part Of he Money of the
people, as a penalty Of this vifatiOn of the
usnry laws Of the nation. Ihe fact that
our State laws are unable to 40 more than
mitigate the evil, satisfe nae that we
should look rather to the general govern
ment, and with proper discussion before
the people, lead them TO apply this RENE
DIP, and stop the alarminAy rapid stripping
Of wealth from the masses and the Accu-
mutation Of gorgeous private and corFprAte
fortunes
Mr.. Frieberg The gentleman spoke Of
the farmers as though the farmers we're all
excepted. Does not the farmer get fair
compensation for his work Can " not,
Ne H.. g e.
at fair remunerative price. and get his
cash for it
Mr. Ewing [ said that the actire forms
Of capital, those calling for fixed interest,
OF rent, in money, absorb very mich more
than their due proportion of the general
net increase of all property. Now, the
gentleman asks me whether the farL er
does not get fair return ] say he doe
not Take any farm worth ten thousand
dollars and what should be deducted, in
order to get at Its proper net increase
First. taxes; second, the food of the men,
women and children, and the stock third,
the clothing, and other living expenses Of
those who work upon the farm, to wit: the
farmer, his wife, daughters and sons;
fourth, fair wages for them, deducting cost
III clothing etc, because, although they
are on their own farm, We want to treat
them as if they were hired laborers, and
see what the net increase would be after
getting fair wages Now apply that rule
to almost any farmer In the State Of Ohio,
and the balance would be-nothing. Ghe
truth Of this is shown by the fact, which
almost any lawyer, who is also a farmer-
aud there are very few who do not try, in
vain, 10 run farm-wlll verify, that no
man. who does not live on his ~arm, can
get anything from It. After Paving hired
labor, taxes, and repairs, he e; nothing,
OF, perhaps, runs in debt. TX tort, the
| fact Is, that that half of the agsft gate pro-
perty of the Republic, after deiuctlng from
its product a fair amount for living and
wages of those who produce the increase,
and taxes and repairs, gets little or nc
share Of the aggregate net increase Of
wealth.
! Mr. Hoadly. would be false to my
constituents who have asked for the adop-
/ ton Of this amendment; | would be false
to wat is Of much more consequence t.
4 me, namely the law of my own politica
7 life and existence. If do not take part III
| this debate
Mr.. Toran. | should like 70 ask the
gentleman question. He saws his con.
stituency asked him to advocate this meas
ure. Now, | desire TO know whether he
was not asked to advocate his measure by
very small per cent. Of them. and whe-
Their any OF the workingmen, or poor men,
asked him
Mr.. Hoadly. The petition to which
refer emanated from the Board of Trade Of
the city Of Cincinnati, from the merchants
and manufacture $, the representatives Of
those who are producing and adding t. its
wealth, and who are nearly all the borrow
ers of money, and who by high taxa1on in
our State, aud the pressure OF unjust usu-
ry laws, find that capital which is necessa-
ry to the prosperity Of this State is driven
from them to other States. where other
forms Of legislation prevail. But. Mr..
Chairman, far more Important t. me is.
that | should be loyal to what regard "a
the law Of my political life. which Is this
belief that that country Is best governed
which is least governed which Is only an
other fora of expressing confidence IN the
right, and in the power OF individual man
to govern himself with the least possible
interference by Law, and that interference
justltaLls only upon the ground that Law
Is necessary t. protect has neighbor in the
liberty which is hiA- | believe, therefore
M free trsi4 IA money. aI4i in everything
else. without let OF HIEaaruLce ~ als gov
erarueztY 49, -szE-i. stste ' Innn-cipsl And
so believing J desire u consume a little
time Of this committee that ! may give ex-
preston to my convictions. and the rsa-
sons, and political philosophy that under
lie them.
Mr.. Chairman, you can give no good
reason, none whatever, Why you should
not regulate the price that should be paid
for the loan of horses. plows, or any other
instrument Of farming, OF Of merchandise,
Just as you regulate the law of money.
Why, | am told that government makes
the money, Mr.. Chairman. It is not the
first time have heard that abominable he
resy from the lips from which it has fallen
upon this occasion. don't mean that |
have heard it with the hearing Of the ear,
for | have fallen since | came To this Con-
vention for the first time within the magic
charm of the voice Of the gentleman from
Fairfield (Mr. EWING. Nevertheless. and
while using and daring to use the strong
language | have-without any personal
disrespect, for | have the greatest respect
for the gentleman-it is NOT the first time
have heard this abominable heresy. Sir.
the government of the United States once
fell INTO that heresy. Abraham Lincoln,
God bless his memory, and Salmon p.
Chase, and Thaddeus Stevens, fell into
this error, during the war, and attempted
by legislation, to break up the traffic in
gold in the city of New York, and in less
than one month, in sackcloth and ashes. in
shame and humiliation, confessed at the
altar that they had sinned against the law
of God, which no Congress of the United
States could undo and prevent with safety.
Mr.. Ewing. Will the gentleman allow
me question Didn't they fall into the
heresy Of claiming that the government
makes money
Mr.. Hoadley do not SO understand
it.
Mr.. Ewing. Didn't they issue four hun
dred millions of legal tender paper monevl