The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1875-12-18
FROM CALIFORNIA.
An Open Letter
>A> FBAN,Is W.. NV. 81.

~AN FBANyIsro. NOV 80
JOINS u DREW. EsQ
DEAR ~rr htva hsen much dissp
pointed An u.r finding u tly ADVOCATE a
rrp.y FROM yu ., my letter of th- 3nrh
August. ItIs very lsoly my crude ideas
may not have been deemed worthv Of a
reply. but hope YOU will consider that
those Nho get up at SIX IA The morning IL
II w work. and cannot get home until
seven iu Jh- evening, do nut have much
tlue w arrange thg,r thoughts It "a true
I p1Id aut lttlg attention in my letter ~
the mam p,ut urged 1y you 90 your open
letter to m-. dated chs l1rh If the pre-
vIous July, Ia which you especially urged
the Importance It an elastic currency. |
can only conceive II thu necessity IF elias
ticlty ~ tHe means WI securing the great
est p.ss Wy amount w interest While
you, II | understand you correctly, insist
that ID Will have a contrary effect. Ii there
is any other object Iu having an elastic
currency, it has uut been made apparent to
my conf reheuslon. Ny object in discuss
ing tins financial question 5 20 prove tia;
It Is the duty uj a beuehceuJ government
.to protect III citizens from the rapacity ",
each other.
The constant aim Of all our financial e-
gisAtluu has been to provide the means by
,t,.4 s. . b. ,...,,,.I. ...,, -. ,,..,.,,
their fellow cIuzeus. You aud | have
lived long enough aud studied and %
served enough u become satisfied that a
social condition that makes one class If
mankind the slaves or serfs Of another
class, Is a violation VT natures laws and
che result Ut N just and partial legislation.
We are also certain that these laws and
these conditions must be remedled and re-
formed sooner Of later, and we also know
that the ouly certain aud safe remedy for
unequal conditions is to abolish interest
for the use 81 money.
Can We Az ,his Is it right that it
should ~ done Through all ages Of the
world interest flr the use Of money has
been condemned 1t is forbidden in the
Bible, the Christian standard of morality.
i has been mathematical by popes and
pre,ates, aud interdlcted by despots, and
still the Insurer hnurishes. There must be
a reason for this, aud We shall find that it
lies III the fact that all persons have an in
herent right 10 dispose Of that which they
produce for their own benefit. Ii we can
do this We eau also stipulate what rent We
will expect for the use Of what we have
produced, aud interest is only another
name for rent Ii these premises are cor
rect, then interest for the use of gold aud
SILVER money that has cost labor for its
production, Is both equitable and Just
Bat when we come TO use paper for money,
the equities ut the case are changed en-
tirely. Here, then, we have an evident
reason why interest cluld not be abolished
~ former ages, notwithstanding its admit
ted evils, while " have equal evidence
that il can ard should BE- abolished in this
age of paper Curruucy. and especially when
that currency ssaed ur etyn authorized
70 be issued n D .lslativ1 enactment. That
our govvruuivHt h b~el. unjust in this,
who will pretend tu dsnyi IL has not only
authorized the issue a paper for money,
With the Implied night - collect interest
interest for ITS use, but our government