The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1875-07-24

operation between non producing capital and |
labor. That to effect this most desirable |
object money, the medium Of distribution to |
capital and labor, must be instituted upon
such a wise and Just principle that instead Of
being q power to centrAlize the wealth in the
hands Of a few bankers, usurers, middlemeD,
and non producers generally, it shall be a
power that will distribute products to produ-
GERS in accordance with the labor OF service
performed IN their production-the servant
and not the master of labor. This done, the
natural rights Of labor will be secured, and
cooperation III production and in the dlstri-
button of products, will follow as a natural
consequence. The weight will be lifted from
the back of the laborer, and the wealth-pro-
duciLg classes will have the time and the
means necessary for social enjoyment, intel
lectual culture and moral improvement, and
the reproducing classes compelled to earn
a living by honest industry. We hold that
this can be effected by the issue Of treasury
notes mate a ieydi teHder IN the payment " az
debts public and prirdte, and convertible at
the option Of the holder into Government bonds,
bearing a just rat, Of interest, sufficiently BE-
iotc the rdte Of increase ~ the national tCeddh
BIZ natural production, as 10 make an equitable
distribution OJ the products Of labor bettceen
non producuag capital and labor, reserving to
Congress the right to alter the same when,
in their judgment, the public interest would
be promoted thereby giving the government
credit or the right to take the lawful money
or the interest bearing bonds at his election,
with the privilege to the holder to reconveIt
the bonds INTO money or the money into
bonds, at pleasure.
We hold this to be the true American, or
peoples monetary system, adapted To the
genus Of our Democratic Republican lnstitu-
tions, in harmony with the letter and spirit
of the Constitution, and suited to the wants
Of the government and business interests OF
the nation that 1t would furnish medium
Of exchange, having equal powers, uniform
value, and fitted for the performance OF all
the functions of money, co-extenslVe with
the jurisdiction OF government. That with
Just rate per cent. interest ON the Govern
ment bonds, it would effect tine equitable
dis tribution of the products OF labor between
non producing capital and labor, giving 70
laborers a fair compensation for their pro-
ducts, and To caplJal Just reward tor ITS
use ; remove the necessity for excessive toll,
and afford the industrial CLASSES the time and
means necessary tor social and intellectual
culture. With the rate Of interest at three
per cent on the Government bonds, the ma
tiona debt would he hquIdated within less
thar thirty years, without the imposition or
collection OF one farthIng Of taxes for that
purpose. Thus 1t would dispense with the
hungry hoard OF assessors, tax gatherers, and
government spies that are now harasslng the
industrial classes, and despolling them Of
their substance.
1t will thus be seen that EIGHT YEARS
AGO the worklngmen Of the United States,
through their representatives, adopted the
very principles for which the Democracy
Of Ohio are now contending, SO that III
giving the State ticket cordial support
every Reformer is simply Performing an i'm
peratlve duty.