The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1874-02-21

regret that have offended Mr.. Sheldon
in my criticism Of former article of hil
on the subject of currency. If l remem
Der rightly, the gist of what | said was
chat labor will get no more from capita
by asking less, and that labor reforms
might as well be hung for an old sheep a
a lamb"
But since Mr-sSheldon seems to stick t.
/ the idea Of interest, It is but fair that he
/ should allow those who differ with him to
attempt 10 overthrow his position If they
\ can Mr.. Bray, in his letter in the same
issue Of the ADVOCATE, has pretty well
disposed Of it, for, after all, it rests upon
/ this point, which | think have also OK
planned in former letter. Must the
people be compelled to use the money Of
capitalists and pay them for its use when
they, being majority, have the right and
the power if they win use it, to compel con
gTess to issue money to them tree Of cost,
IN the same manner that the national gov
erumtnt now ISSUES three millions of cur
reucy To the national bankers Can any
Cody give reason why this money, be
lOn,ng t. the nation, should be issued
ana loaned To the bankers gratis, in prefer
encc to lOanIng II to the farmers, manu-
tacturers. mechanics and miuers If they
can, | must confess myself very short
sighted, tor according 70 my prescriptions
VI equity, the honest producers Of this
nation should have the preference, and not
the usurers, gamblers and spectators.
For large portion Of the currency issued
by the Onited States, 1t is well-knOwn, is
used by stock and gold gamblers, and
these pursuits are not whit more moral,
and far more destructive in their effects
than faro dealing
But to come back to the interest gues-
ton. VIII anybody tell me how if 81 per
cent. III crest is lawful, why 80 per cent.
is not
The fact is, that bankers are right in
their demand to have the usury laws re-
pealed, for if they are just in principle who
shall say where equity ends and eXtortIon
begins Let the usury laws be repealed
by all means, and see what it will lead To.
One thing is certain, things cant be much
worse, for laborers in good health and
constant employment can barely live now,
and everybody knows now that interest
and taxes are paid by the laborer, and by
him only, although when most people talk
about taxpayers, the laborers are the last
people they think about
When | said it was time t. stop prating
about {" the mutual interest Of labor and
capital, that expression was not intended
to be used IN a sense offensive to Mr.. Shell
don, for ii | remember rightly he did not
use the term, and if I-trenched upon an
Idea Of his, | hope he viii forgive me, IN
consideration that did It unWittingly. |
d1 not expect all labor reformers even
think alike, mr. do believe this year any
thing thought was right the year before.
II ! held the opinions | had twenty years
ago, | very much fear should make but a
po.r labor reformer, and | certainly hope
To have advanced very considerable further
on the same road before the next year
rolls round, lest | be left IN the lurch
have just looked over some Of my old
speeches, made before the Labor Iniun
less than three years ago. and perhaps II
viii be gratifying to Mr. Sheldon { know
that We differ very little, if any. III our
views at tirat time at least had not got
1t through my noddle that the national
bankers were getting three millions Of
dollars from the government for nothing,
and loanIng Il 10 the people T. whom IL
belonged for thirty millions per annum.
And with this amende hope MIR Shell
don will be satisfied, and that We shall br
very good friends hereafter am with
everybody that advocates this cause OF
labor Let each do all the good he cat in
his own way q Il. SMITH.