The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1875-11-27
Hard Money

NORTH ARLINGTON. Mass, Nov. lG.
To the Editor q the woEKxeAAxs Advocate.
In your issue Of Nov. ., you criticise
the Laurence Journal Mass. }, for avowing
itself in favor of specie payments, ana i'm
pute unworthy motives to 1t for 50 dong.
Now there is large classs among the best
men among the Labor Reformers in this
State, who are strenuous hard money men,
as against initiation. Among the most
prominent are F. H. Rogers, Geo. K. Nc
Neill, Ira Steward, K. d. Linton, and
James f. Bates; and your remarks reflect
upon us all. VIII it ever come that peo-
Ole will differ as to meth DDS, without i'm
pugning the motives Of their fellows Now
We are not trying ''to mix oil aud water,
nor to serve God and mammon." On the
contrary We believe that the greeDback
\ plan and the 3. IS bond scheme would, if
/ carried out. be more disastrous to the in
terests Of the working classes, and do more
to throw them into the power Of the capi-
taists, than any other financial measure
that has been advocated for generation.
Yet we have no doubt that those Labor
Reformers who advocate these measures
which we deem SO pernicious, are honest
in their aims, though mistaken, we think,
IN their measures.
We have taken no part hitherto In the
financial discussion, because the exIgencles
uf the conflict IN oar midst call for our
work in another direction, and because We
have seen no readiness on the part Of the
public mind To receive our words. How
: ever, as in part deferce Of the Journal,
will venture to send you brief state
ment Of our position or at least Of my
own, and think Of some others.
Neither gold nor greenbacks, as now
used, are true money. Neither gives, OF
/, can give a righteous standard of exchange
The foundation Of both is not justice, but
{ h1man greed. The true money Is that, u
use Mr. Linton's perfect phrase, which i
= founded upon "a specific instead of a spe
T Gle basis 1t pledges a definite amount
Of wealth at its average labor cost. Thu
time and toll measured IN wealth are tn
} only true foundation of righteous money
and the paper deed Of that measured
, wealth passing current from hand to han'
y would be true money. But the true mon
ev cannot now be Introduced so We con
v sider what is the best that can be done.
n And first, what ought not to be. "
e are all agreed that the national bank sys
r TEN is the financial crime Of our day an
le that every intelligent, patriotic instlnc
e, demands that it shall be exterminated froT
Y our midst at the earliest moment that
ID can be lawfully done. Doubtless Secretar
a Chase was actuated only by patriotic m'
II tlves. and did the best he knew, when ]
er the darkest days Of the Rebellion he e
a, tablished that system. He could not for
Id see the effects which we experience.
g, Raze the national bank system to l
IN foundations ought to be the battle cry
all every person who works with the han
M Doubtless it is sucking the life blood O
lc- of labor, and impnverishing the who
We land. Now political party on this bas
X and adequate to all the ctber needs OF Z
tic country, could in a time not far oh, car
or the nation. But the opponents Of the n
elr tional banks have weighted themsel'
ms with a greater evil than the one they
mt attacking. And this is the reason v
de. they failsd this fall before the people.
F. average YoteT is not . fool, nor does