The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1873-10-04
of our country
'spital Of four thous-
The network of
mes throughout the
As against the public is as

hundred Thousand men, lncluulnK the
ablest legal talent in the nation, and draw
ing into their support every influence that
great wealth can command. The privi-
legged classes of aristocratic Europe are un-
known here but we have in their stead
these great corporations, armed with equal
or greater power, and threatening the com
plete subjugation Of the people. 1t is the
one-man power in a new and most alarming
form We have no Dukes, Lords, or Bar
ons, and in theory can guard against polit-
zeal abuses by frequent changes of our
public servants but We have our great
railroad kings. who control the makers and
expounders Of the law, and are practically
endowed with life offices and powers Of he
reditary succession. Is not this as fatal to
democracy as would be the life tenure of
the office Of President, with power to name
his successor If the European system of
government is abomnable, is not our sys-
tenn IF railway rule equally 500 The ques-
ton thus forced upon us is that of democ-
racv on the one hand, backed by forty mil
lions Of people, and struggling for its very
existence. and commercial feudalism on the
other, dominated by great corporate mo-
nopohes which own the wealth Of king
dnms and will be content with nothing
less than imperial power over the govern
ment and people | sincerely regret that
this grave Issue ras become inevitable. l
certainly cherish no hostility to railroads
Undoubtedly they help develop the com
try. They often create the towns which
they connect They extend civilization
and all its appliances. They are of ines
Unable value t. the country, under just
administration Of their affairs, and while
content To act as the servants of the public.
But they are built by the peoples resources
and labor. for the peoples advantage. and
the people must resist their attempted
usurpation al whatever cost How they are
10 DO this the future alone can FULLY reveal,
but am sure they will do il, because they
are sovereign on their own soil and over
their own affairs believe they under
stand their rights, and in the end will tnd
the means If maintaining them. They
can not long fail to see that the very life Of
our Government is at stake III this contro-
every. They will see that it is one thing 70
establish great lines of mtercommunlcatlon,
foster greater commercial enterprises. and
aInass great wealth in the hands II few and
quite another thing, while reasonably ia
yoring the healthy development Of com
merce and the activity of capital, TO 50
shape the administration If affairs To mann
tam. IN their full vigor, the vital principles
w democracy My hope is in the people
and II. in a crisis ike the present, they
should rally under old political watchwords,
and invoke the party machinery through
which the evils now complained of have
been brought to their doors, they will de-
serve the humiliation and defeat which their
conduct will certainly invite. In this refer
ence TO- the conflict between our democratic
institutions and the power u great corpo-
rations. must not omit the subject q our
NATIONAL BANKS.
They number more than two thousand,
ana represent an aggregate capital Ut near
II five hundred millions of money. Ii they
were necessary during the VAR as a means
Of enllsting capital On the side ~ the GOV
eminent, that necessity has long since
ceased But they still exist. and their
number is increasing Nor is bank extern
sion governed solely 10y the business wants
IL the people To great extent it de-
ponds On what the politicians cali ''inru
ence That this system II National
Banks might readily be made tremendous
political power, no sane man will deny.
That this power was almost perfectly
united On the side of the Administration
in the national canvass If last year. is
equally undeniable la the very nature ~
things it must become a political engine ;
and in comparison with this great oligarchy
of capitalists the old Bank Of the United
States, which Justly alarmed the people,
was insignificant, if rot contemplate.
And there is, repeat, no valid excuse for
its existence. The banks are supported BY
the Government at the bidding If capital,
and capital demands 1t, because they pay
their tockholders from fifteen To- thirty
odd per cent. per annum for the little cler
ical work involved in running their machin-
cry, while these profits must come out Of
the pockets Of the people, and necessarily
aggrandize the rich and heap eXactions
upon the poor. Why should the Govern
ment make itself substantially responsible
for the National Bank notes, and hand
them over to corporations t. be loaned as
money without exacting anything for their
use. Why not issue greenbacks at once,
and retire the Government bonds held by
the banks, amounting to over three hun
bred millions Of dollars. and thus save to
the nation twenty millions in interest
But ! cannot here enlarge upon this topic,
and only repeat what ! have said on
other occasions, that the people of the
nited States have the right to a sound
national currency without the costly ma
Of these banks, which are a pure
monopoly in the interest of capital, de-
handed by no public necessity, and rem
dering no service to the country that can
Justify the expense which they occasion OF
the profits they receive. A national cur
rency Of uniform value throughout the
Union is exceedingly desirable but if that
currency must be irredeemable paper, let
the Government issue it directly, and thus
rid the people of the burden of supporting
a great moneyed power for the enrichment
Of privileged few, and at war with every
principle Of democratic equality.
THE LABOR PROBLEM
The practical success of our democratic
is seriously menaced by the la
Dor problem This subject is involved in
what | have said of the monopolization Of
lands, the growth of cities, and the power
of corporations but it demands distinct
consideration. A right adjustment Of the
relations Of capital and labor is absolutely
necessary to the permanent success of pop
ular institutions. We have seen this IL
Illustrated in the old slave system of the
South, which was simply an extreme form
of the tyranny Of capital. 1t was the log
ical climax of that system Of political phi
losODhv which makes the DrotAction of
property the chief end of Government.
Democracy teaches that the laborer is
worthy of his hire, and that man is para
mount to wealth. Whether the domino
ton Of capital takes the form of chattel
slavery, or serfdom, or that practical own
ership Of the laborer which our system of
modern industrial skill has inaugurated,
can make no sort of difference in prin-
ciple, since in all such cases the sacredness
Of humanity is invaded, and democracy, in