The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1875-10-09
No. %

THE ~ kJH4sINC POwER ~ GREFNRArKs
II is perfectly PLAIN, therefore, that al
though the gold theory makes green
backs worth less, they are worth much
more now than they we're before the panic.
and this fact IN regard To the purchasin /,
power % greenbacks mpletely sets al rest
the gold theory. for the fact Is 50 patent
that the greenbacks viii buy more nov
than ia 1873, that nu sensible man will
I deny u, ami "a admit it Is To prove that
1 the value ~ grrenbacks measured in goods
has Increased. while the value of green
backs measured m gold has decreased.
/ This Is the complete and only sensible ex-
/ planation If Why
MONEY l. LOCKED Up IN BANKS
7 - long as the price Of all kinds Of goods
land, and nearly everything else fall IN
value, Il Il profitable to keep money lock
/ ed up, because the money il every day BE-
coming more valuable Ii IL il invested
~ goods there IL a risk of loss. but there
/ l. very little risk Of loss If the money Il
locked ~ IN bank, unless the bank
breaks, and the owner Of the money takes
his chances IN watching the bank Let us
now aualyse the bullIonists theory about
tins ldle money They say It is want Of
thar intelligent men viii luck their money
up. aud .et d hc idlr. fur fear w l,oslra
some ~ thr principle hy lending " uut \ IIen
grccnhlcks arc theoretically worth Sa
cents, least -ruenh1cAz would uuly i.
theoretically worth 40 cents uhcu thc
loan was paid. when d l. the easiest thing
IN the world to make the mortgage pay able
IN gold. No, this reason is hyp0critical
t.rsA fals l.. Il
do not want 10 say I'VE are waiting until
Sherman conhscatlun act forces crush,
and then w viii buy up your Prop
erty fur mere song But this j. What
they believe.
rms CONTEST
l. really between the men II money, the
men Of property, and the industrial classes
The men Of money have resolved and the
power Of the government IA eXerted to en-
force the resolution. L. make property
worthless. ct make DAYS labor So nearly
worthless that II will be impossible for the
w0IkIngnau to save cent They have
resolved to make n absolutely impossible.
FIR people who have property with mort
gaze upon II tn meet the payments. They
have resolved q. suhg industrial enter
pyises, and turn hundreds ui thousands VI
workIngmCn ln"S, up"r thc community
without any 'lsihl, ultn, pt support an
Tins tha' the .ncu 5i money may bc able to !
buy other pcopi, property tor one half OF /
"ne-fitrh. "a ouc-tyuth 20 whJ' tits worth. or /
a. spcak more definitely fur IuSt what they |
choose a. Did. under the shrrtfs hammer
Newspapers are tuIl NJ sheriff ) sales Ev- |
cry DAY brings IT, crup ~ failures Nobody |
makes money In legitimate business. ILL., |
dlstry j. paralyzed ana ambition stitied. |
oar people are not prosperous. Every body |
look, wIth gloomy fobodmgs upon the |
future, unless he chances 10 be money |
lender
WHY j. THI>i
Because few schrmlng Williams bribed |
congress a. legislatc exclusively in the in |
terest NJ thr money power For three |
years past w have l.ai bOuntfuI crops, |
the country has been Al peace there has |
been no earthly reason Why prosperity |
should Irt have smiled upOn our land. |
under wise administration Of the gov
eminent but instead uf a wise administra-
uon, We have been 'lprrssed, throu IN the |
dishonesty Of cungr 'Ssmen and the selfish |
hess Of few individuals. until forhearance |
has ceased % BE- q virtue. The men who |
have planned this grand scheme Of rob |
berry. aud y nv arv uun trying to fasten Il |
upon THE people mIstaee the intelligence /
ut the pubhc. ur else WI have nD adequate |
idea pt that mtelli-yu,r ana independence |
when the people become aroused az they
nov are.
THE EVILS uF INFLATION.
A very large proportion Of Mr.. Schurz's |
speech Is devoted to an exposition Of the |
evils of initiation This Is a matter Of
very little Importance, because ID one
favurs initiation. Initiation, as applied ID
money matters means an over issue
Where j. the evidence that there il all
over Issue Ot greenbacks al the present
time II certainly A. not found In the
money lying idle III the banks for that
money lies Idle solely because goods aud
lana fall IL prices, IN consequence Of the
rulnuus contraction Of the currency See
article on the INSIDE of this paper on con
traction. The rise of gold since the pas
sage NJ Shcrmans couhscation act is cue 10
the fact that. the resumption bill created
a new demand for gold without increasing
the supply Ut course b vent up under
the circumstances. and 1t is bound To
Keep going up, under the legitimate ef-
fleets " that hiil. This - no indication
uf 'Iuhaunn, besides ther. has been no
new Issue of currency since gold took an
upward turn. lnhaunn. M the sense in
winch Mr.. SchurZ uses the term. has no
meaning Nhatever, aud Ia all of this bigger
half q IT, speech ~ Was fighting phan-
tam NJ his own creation. There can i've no
imitation under thr 36j bond plan-the
thing J. impossible, because thr govern
mcnt viii promise nothing
THAT IT CANNOT FULFILL.
On the other hand Mr. Schur- nd
other bulinnists insist that the govern
ment shall promise to pay all ~ its claims
III gold on demand, whether 1t has any
gold or not. That IS, he insists that the
government shall leglslate itself into bank
ruptcy. aud his little ring of COLA gamblers
into a monopoly of the money power
1 This whole thing. from beginning u end
Il the desire - ~, part NJ few men ~
| obtain monopoly ~ the money power
and by frequent corners rob the community
al will, without let or hIndrauce. and vet
/ these grasplng sc,undrels talk about hon
| estv. Every state prison IN the country
\ is tull Of just such honest men. Their
purpose Is dishonest, their object j. rob
I berry. They have nn thought other than
\ their own self-interest, and with All ot
\ their blarney, they viii not succeed III
| capturing the votes NJ the honest tpiliuQ
millions NJ prodpceyy NJ 'reaiH
PAPER MONEY sTlNrLATES SPE, ULArION
Does il Let MS see about this Mr.
Schurz wouli have Us believe that paper
money was an uuJrird experiment, but he
is As far wrong here as he Is everywher
else. We always have had pap 4 money
here IN the United states Before the
war they used tu pretend that Il was 4
specie basis currency. but the specie was
never found To be there when IL was want
ed. u was confidence currency, and