The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1874-06-20
THE ISSUE AND THE PARTY.

1t seems to be settled fact that the
question of the currency is to be the main
issue in the coming campaign. This is as
it should be.
Heretofore the American people have
been too much absorbed in questions of
local interest to pay any attention to the
monetary system under which they we're
being robbed every hour Of the day.
Their minds have been kept distracted upon
the questions of tariff, revenue, slavery,
etc. Now, as all these issues have passed
away, and the great minds, which were
the guiding stars Of the old party institu-
tons, are laying in their peaceful tombs,
never more TO take part in the political
strifes of this world, the satellites of the
old parties are adrift, not knowing how or
where to anchor.
The old parties in the zenith of their
glory ignored the question of currency.
The triumph Of one party over another,
and the distribution Of the spoils among
the victors was Of too vital Importance to
allow them to give any attention to the
financial affairs of the country, and thus
the fnanciers, capitalists and bankers were
enabled to shape the financial legislation
Of the country to suit themselves. But
despite the negligence, the utter contempt,
the wanton regardlessness Of parties for
the interest and welfare Of trade and com
merce, and the prosperity Of the masses,
the question Of the currency has forced
itself on all parties and in every conven-
ton held so far it has proven to be the
rock on which parties were either to split
OF prove invulnerable.
And now when the country is shaken to
its very center, suffering, as it we're, all
the agonies of terrible panic-which has
Frustrated the industrial interests Of the
republic-and almost bankrllpted the gov
eminent, when the remnants Of the same
parties, with the same principles and the
same policy are moving heaven and earth
with all the evil and corrupt appliances of
political machinery, is 1t not just and
proper that the masses should arise in the
majesty Of their power and demand,
through the ballot box, that the "Augean
stables be cleaned" What sad, sad spec
tacle do the remnants of the great political
parties of the past present to the American
citizen of to-day.
There was time when the giant intel
lects Of the republic commanded the ship
Of state, and many we're the boisterous
storms through which they guided her
but they are no more, and now the Ameri-
can voter looks in vain for the helmsmen
to stear the bark through this night of
darkness.
The old parties and their policies have
become imbecile-they have chung too long
to their old theories-and if we except
the idea of Capitalization, which they
have of late practically carried out, they
have given us no new ideas.
In discussing the financial question they
treat it as do all monarchical and CEN
tralized governments. They still hold on
to the golden calf" II is the apex Of
their financial wisdom. Beyond this they
cannot go, and they wish to impress upon
the millions their golden idea.
hey advance the doctrine that the value
Of money lies in the material of which it il
made. To show the inconsistency of such
doctrine, we quote from a very able finan-
cial writer, who has made Finance and
Currency special study ''The erroneous
idea, says he, ''that the value of money
inheres in, or in any degree depends upon,
the value of the material by which its
powers are expressed, beyond that of con-
venience, and that the so-called precious
metals, gold and silver, and l may add,
nickle and copper, possesses some unde6n-
able property, or qualification that fits
them above all other substances for the
material of money, In at the bottom of the
many false theories respecting its rightful
institution. It il the cause Of its abund
ance and scarcity, Of the high and fuctuat-
ing rates Of interest, that has led TO the
many false systsms Of banking by which
the legitimats business of the county has
been 30 oftah deranged, and while these
mistaken noafons are entertained by our
lawmakers, these evils must continue.
Dat whsn tins traditional error il eradi-
Gated from the minds OF our Legislators,
when they will have advanced 70 the stand
point OF practical business intelligence al !.