The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1875-09-04
FROM PENNSYLVANIA.
NJ. RYAN.
a. ADAMS.
FAIR HAVEN, Aug. sd, 1876

| Abolition Of interest and the govern
ment issuing money directly to the people
| is the only road to national prosperity and
| industrial freedom, for if We had only one
kind Of money INTERPOLATION, say the green
back and issued by the Government di-
rectly 70 the people (wlthout interest) and
made legal tender for all debts, then
the business people that are now suffering
bankruptcy and ruin would be relieved
They could borrow money from our ma
tlonal treasurer on their property and 20
into business, and find work for all the
workinglnen IN the United States in very
short time for when money comes easy it
goes easy; for If the business men could get
It easy, they could easy pay good wages,
to the tOiling millions, and that would
give the workers power to buy all they
needed, Just as 1t dId during the war time,
thereby creating an immense demand for
all kinds Of production, and IN a few years
We would b the most powerful, wealthy
and influential nation IN the world, and
the useless aristocracy would die a natural
death, for they could not live by lending
money at exturtiunate rates Of interest, for
nobody would borrow Ii at high rate of In
terest, when We could get all We wanted
from our national treasurer, without in
tere>t, by giving security, AS the banker
does now. Then the working people
wOulG soon be able to get the first fruits
Of their labor, by saving money and putting
it together, and buying works for them
selves. which would be industrial freedom
We have got political freedom and relg-
ious freedom, and nov We want industrial
freedom, and we can have it by saying the
word at the ballot box We must vote for
nothing but greenback men, men that are
IN favor Of free currency, free from gold
speculators influence, and let us live up
TO our constitution for once, which We
have never done since the Declaration Of
Independence of l776, but in 1876 | would
like TO realize the advantages and duties
Of our constitution, which says the gov
eminent shall coin money and regulate
the value thereof, and no State shall sur
init bills Of credit, therefore all State
money and national bank MOI ey. and local
currency of all kinds is unconstitutional,
and is cuunterht as a consequence.
| would say the government should
make the greenback a legal tender for
all debts whatever, within the United
States, and issue the greenback directly to
the people on their property, Just as 1t Is
issued to the bankers and without interest,
and made interchangeable with govern
ment bonds bearing no interest, 80 as the
people can deposit their savings and sur
plus money in a place that is perfectly
safe, that is the government treasury
OF sub-treasuries In the various cities.
The people deposit with national banks
per year an average of about SIX hundred
and seventy millions Of dollars, for which
they get no interest, and have only
precarious security. With the inter
changeable bond system bearing no inter
est, this money will flow into the United
States Treasury, making it unnecessary to
borrow III Europe and saving large
twenty millions Of dollars per year. con
tend that governments, like individuals,
should never borrow money for the pur-
pose Of paying interest, when IL can be
avoided, for all interest paid by the gov
eminent comes out Of the working men III
taxes; 50 you see paying interest on gov
eminent bonds Is simply plan to take
money from the many to give 1t to the few
bend holders, which is contrary to the con-
stitutiOn. To legIslate for the few at the
expense of the many, as Is the case In pay
ing interest on government bonds, and It
IS also the case IN paying interest for our
currency, for all interest paid for the use
Of currency would be taken out Of prOduc-
tive industry, and the money paid for the
use Of our currency would go long way
towards paying the governments expenses,
and all other classes Of society would he
exeU4pt from paying their snare Of that
part Of the governulel Is expenses g, which
would not be right, so the Only way to do
the fair thing Is to live up to the constitu-
ton, which says, ''the government shall
coin money and regulate the value there
of, for money is the nations tool to do
business with, 1t belongs to all; no one has
a right more to it than another. When it
is issued from our treasury all must have
it equally alike, by giving their property
as security, as the bankers do. Now no
body has the monopoly Of our postal sys-
TEN, and no one shall have the monopoly
of our money system. If all voters are
like Inc when the election comes we will
pick men out Of the ranks of labor, that
are familiar with our wants and in sympathy
with US, and have the good of the nation at
heart. WALTER Hague.