The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1876-04-08
FROM n ;CnlGAM.

PoNTIAc. April ), 1876.
To the Editor Il the woRENssAS's ADVOCATE
The n. Y. San Is a model champion o.
the bullionlsts. IL the Weekly SaR u tn.
10th ult- there is an article on "Gooc
money the only honest wages, in which
1t Is contended that there is really but
one honest dollar, and that is composed
OF a certain liked quantity Of gold" But
instead Of rejecting paper dollars, as ought
to be the case, these frauds are 70 be tyler.
ated if based IN gold Surely the people
have had ample experience with a paper
currency based On gold" We have had
it sll along until the Ear, and with it plen.
ty Of stagnat'"ns, panics and hard times.
In addition to tolersting paper dollars, the
'Saa argues that "a return To- 81 Gle pay
ments' does not require more gold, hut
simply the redemption" II the green
back by bond bearing 4 OF Al per cent.
interest As it is so easy to resume
without any extra gold, perhaps it can also
be shown To the workman how he can ''re-
sumo" work without any demand FIR his
labor.
One admission Of the Sun however,
clears up the financial mystery. Money
lies piled up and idle AS it never WAS be-
fore Anyb"dy can get it who can pay
for it.. Here stands ShyIock. He has
piled NJ" the money that ought to be
scattered abroad among manufacturers and
traders They can get il ''by paying for
it, 7 but they have been 50 skinned that
they have nothing eft to pay with. Our
financial system has taken away tie means
for business enterprises and given them
to Shy lock, and Shylock wants "redemp-
ton iu bonds, that not an hours interest
may be lost BY ''piling up" his boards
Is it not apparent, from all admissions,
that the interest classes have the business
classes by the throat Aud these latter
try u save themselves by constant reduc-
ti'ns IN wages, and by throwing their bur
dens ON the wages class And every re-
@uction IN prices only adds ID the pur-
chasing power and the savings Of the in
terest classes. However values may shrink,
4 hts and interest never shrink to their
level All shrinkayes are at the expense
y the employing and working classes.
They doable debts and interest
Shylock to-day is taking his pound of
flesh IN addition t. his h nd. All indus
trIes are verging un bankruptcy. And
YET the business classes. in common with
The farmers and working class, are blind
aud dumb. They have given up their
bodies and souls TO the politicians bought
mp by their arch enemy. The mercantile
and manufacturing classes seem unable to
make any efforts to help themselves. They
have left this to an irresponsible party
press and the politicians.
This question Of interest is one of vital
munity at large. What necessity is there
% pay interest for the use az a paper cur
reney that can be furnished almost free
by the Federal or State governments
Why should there be a distinct "monev
power u govern and plumber all indus
tries Why should we pay hundreds Of
millions a year tor interest Is it not
insanity f1r labor of all grades to permit
currency tO double itself every seven Or
ten years, thro lgh interest, while the
workman is left as poor after haiti q cen
tury ~ toil A. At the commencement The
inS, nuIty 81 man never conceived more
/ potent engine for the perpetuation of
class divisions aud the plumber Of labor
! than interest ON currency.
j. F. BRAY.