The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1874-03-07
FROM CALIFORNIA.
SAN FRANCIsco, Feb. 18, 1874.

DAN FhANClSCOy req. 10, 1913.
To the Editor Of the woRKSexAS's ADVOCATE.
We are now evidently on the eve Of
great currency reform, therefore it becomes
necessary that there should be no more
tinkering, mere opinions must be scattered
TO the winds, and we must proceed to argue
this question from a foundation of princi-
pies.
We must understand what currency
means and for what purpose it is intended.
If currency is intended to benefit a class
that is one thing. If it should be uni
versal benefit, that is quite another, and
indeed the very opposite thing for if
money benefits are confined as they are
now to a class, they must he positive in
jury to the masses.
How shall we find out the meaning Of
the word money In the dictionaries :
Not much Why is there so much ambig
uity about the meaning Of a thing that
we use every day Of our lives. Why are
the definitions Of our photographers Of the
words money and currency 80 indefinite.
so contradictory, even. Are they fools
and numbsculls Not much persons who
make it point to study carefully the ex-
plantations given Of the functions Of money
in our dictionaries and cyclopedias, will
discover an evident desire to sacrifice truth
to the interest of class, therefore we are
at sea without rudder or compass when
We begin to investigate this question Of
money or currency.
The capitalist would have us believe that
money is like some wild animal, very dan
gerous if he gets loose, but while kept
bound and inclosed within prescribed
limits, is perfectly harmless and dOcile,
even useful, bnt cannot be safely taken in
large doses except by very few people.
Arc we all school boys that we should
swallow such nonsense as this. If we
want an Agassiz, Tyndall, or Darwin to
investigate any branch of science, it is
the science Of money, and lay a square
foundation for US to build upon. They
could thus do more benefit to our specl,
than all their tom-foolery about origin
VIII they do it Not much Our news
papers would hound them, and they know
IT and the chances are that they would
fare like Jesus of Nazareth did among the
Jews
60 for letting this wild animal run
round loose for while, and let US see how
he will act anyhow, and as Mr. Campbell
says in his money article in your paper Of
the 9TH inst, THAT there exists great
variety and conflict Of opinion, that we
have no data by which the amount can be
ascertained with entire accuracy, how
much of this money or currency we can
take with safety 1t may turn out to be
quite harmless, and all these dangers with
which we have been threatened, by those
who are satisfied with our money system
as they put it up, may after all end in bug
aboo. Wouldn't it be charming if we
could each Of US take equal doses Of this
money-especlallyt those who esrn it-and
not hurt us bit.
us 20 back there was time when men
who had money loaned it, but our money
sharpers are entirely too smart to do any
such foolish act, they keep the money they
have got to gamble and speculate with, and
TO invest in good paying bonds, and borrow
all the money they want to loan TO the
people from the government. They are
very careful not to borrow too much, lest
they injure their profits by Cutting the
, market. This operation is supposed TO be
the very acme Of financial success, and It
consists in borrowing all the money they
want without paying any interest, and
loaning it for all the interest they can get,
at present. There are some old obsolete
laws, now fast being removed, that operate
somewhat as barriers to limit the profits
of their operations.
But the beauty Of this transaction lies
in the fact that these sharpers borrow this
money gratuitously, and loan it for interest
to the very people who own it. and they
don't know it.
There are some people who do not see
the benefit Of panics the advantage Of
keeping the people frightened out Of their
wits. as the constant dread Of an impend-
ing avalanche of money, "a plethoric
currency" l should not wonder if the cry,
wolf wolf had not been kept up too
long, until the people don't scare worth
cent. Some say let her come, and have
done with it.
What is meant by plethora currency,
self adjusting, elastic currency" ''for IL
gitimate business purposes" violent ex-
pansions and contrsctions Of the currency,
rate Of interest TO correspond with the