Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1876-03-31


workmen of the very classes then best paid have
since been most sorely tried. Not abundance nor
scarcity, but uncertainty OF currency brings great
loss TO labor. To either quantity Of Gu reney, u
Of steady vaiue wages as we'll as prices would hnaly
adjust themselves But senator Schurz menuohcd
mer"hantsin New York who had chansei prices Of
their goods times 10 one week to eo1er changes 10
the value Of currency. Did wages ever change as
olteu9 Tell me, when sud en- speculation forces up
the price of our, clotn coal DO you not nay more
Tor what you buy, but get no higher wasesY When
the demon OF disaster depresses prices, II also
closes shups and mills, aud frightened capital flies
1rom industry. Are the many who get no wages able
t. buy food for nothing? Even for tn Sc who have
work, do not such times fall more han prices
THIS is true OF wholesale prices-h W much more oi
retail Go to the nearest store when the market de-
cnes dues nut the seller charge the same price as lang
as he can2 But when il rises Is he quick TO mark
up his goods2 No wonder that the Embassy from
trade mutua lY profitable TO and 35 00O00U peuple
who need our proiuc 3 found that shilling would
buy less here than 10 az other civilized land.
LABOR RoBiiED OF ITS EARNINGS
This is the market in hitch the farmer and aborer
buy. But the one sells his wheat or corn pork or
cotton, at prices nxed in gold at Liverpool The other
sells his labor prices liked in the worlds labor
ket II his wages ise the Iauor of other lands
here to compete With him. Paper promises and the
gambling Of Wall street, aud the SLOW response Of
retail prices downward changes Of the MARKET have
been rObbing our abor Of its earnings Tor ten years
Every year destroys yet more of the vitality OF
industry Aud yet we are told TO wait still longer
until the country grows up' TO a specie basis. Ah
my friends enormous debts are growing up, vast ac-
cumuatons OF wealth aud concentrated power in the
hands Of few are growing up abandonment Of in
dusry tor the ventures Of trade is growing up; whole
sac punder Of producers is growing up
but in all Its productive industry this
country is growing down. its power to
meet It's debts IS decreasing every wear. ask those
who doubt not TO deny this until they have studied
with care the statistics Of industry and trade To do
nothing Is to he ruined. We must emaucipate labor
from this hdeous bondage a varying currency,
universal bankruptcy is To the Republican
party, which has destroyed cruder form Of slavery
let white labor also enslaved by false money, stretch
| forth its hands for freedom. Not until make gold
! the only money which the poor need ever
/ touch Will labor in this land be free indeed
70 remain as We are then, is impossible. The snip
Is LEAKING and sinking. II we do nothing go down
sentally OF tine kind, or imitation; second less
currency, waiting for change of quantity alone work
change OF quality, or cOntractioni third substitution
ol sound currency, Contraction is pumping water
| out Ul tue ship into the Imitation is pumping
water out OF the sea into the snip Substitution is
| getting into he lie-bOat.
! FRANKSEss, MR.. THURMAN
| Mr. Thurman no initiation in the demand that
| the currency 'shali be made and kept equal the
wants Of trade" He will close except his own.
but Will destroy the coohdenee which many have felt
IN his eaudOr and sincerity For mduhoods sake sir,
! spurn sueh eyaslons! II you mean TO sustain the
ucRet out spiL upon the platform, say 80 frankly, and
men may respec you, though tIey mourn a servitude
TO party which blinds your Judgment. The phrase is
Understood, aud is meant 10 be understood, de-
maud for more money aud cheaper money" Now
our currency WORKS harm 10 labor by its quality, its
uncertainty. Varying ever, aud yet paying debts II
rohs somebody continually, aud most OF all farmers
and laOOrers. How will it give such paper liked
| to issue more of it? You have a drunkeu and m
reliable servant; for remedy Will you add one whose
habits wOrse All perience teaches that greater
| expansion brings greater distrust, gambling, and
huetua ion. THIS evil expansion aud does not
pretend 10 cure. Yet II is insisted that more money
is required by the wants Of trade.
Abuse OF that word money! has given their power
for mischief to the most dangerous dema5og the
world has ever The word is loosely used in three
second the measure OF that power, money third,
the means of transferring it, currency.
| THE CURRENCY OF TRADE
A civilized people make money for themselves.
| Wheat from the iarm, going TO the merchant, the
miller, the exporter, may in motion four pieces OF
paper each transferring the value of the wheat and the
service expended il. These checks bills drafts or
n'tes go from hand 10 had as often trade needs
them, paying debts transferring values perform-
ing all tue duties that any currency ought to perform
uey 40 not pretend 20 be money or TO measure value
! but they represent it the more faith ully because
they arc based upon products Of labor valued
oy actual transfer. clearinghouse records
SHOW that in New YORK CITY alone in
1873 such currency was used in pur-
chases and payments amounting 70 S33 900 600 OUO
more than all the property in the country worth
More transactions create more OF such currency Be-
cause actual transactions we're less tile amount of
! by Sl3O0JU0O 900 in New York alone. Thus "the
wants ii trade" determine for Themselves how nluch
OF tins currency shall be created and how busiy il
shall be used II commerce had all the means it
neeied for the transfer OF values it would have
Ike the Granger banks at the West, or the Work
ingnens banks in Europe, Of which, out Of 1000 in
Germany alone, not ons failed in tue late crash.
trade makes IT'S own currency. and needs, for the
transfer of values, but an Insignificant proportion
| cent. OF all payments in New York
have been made with casa which is needed chiefly in
| the payment Of wages. The number oi persons re-
eelvng wages has increased 43 per cent. since 1860,
former slaves being hired, but the amount Of money
in use incuing gold, has increased 50 per cent The
aggregate OF wages PAID In the best tl.es not ex-
ceeded s24J,OJD,OOJ per mouth. With this those
VINO earn wages make their reiau purchases The
farm-owners if not one OF them had deposited with
banks or dealers, cIud in purchases SION O00
600 per month without spending than they earn
All taxes paid In paper money national state anu To-
n. u ,Tn l.
did not change hands more than molth We
con use In pa wing wages taxes, and retail purchns
than 0JOJ0UOO o paper money in transferring values
WHAT WE DO NEED.
We DO need-uot N re means Of transfer, nor more
of mea OF value but OF value be measured
You say; 81 sold my wneat, or labor, and have the
| money in bank" You have produced value. You
have not expended in cloths food for your con
sumption. You have not Invested it IN lands,
houses, or implements as capital. You have surren-
dered your services to sociely. line on bankers
booS shows what IL was WORTH and it your title
demand an equivalent in value whenever you please.
You have no absolute purchasing power, which you
/ have earned, have not expended, aud have saved.
This uneXpended power In every civilized country
greatly exceeds the money in use. Deposits 40 NOT
exactly measure It, but m June 1875 deposits in the
ings, aud private banks, Sl22g 900 600 making
/ dirertly, or through loan and trust com
panies, the amount Of savings invested as .ed
capHal cerainly exceeds g 00O1O1 QUO. Now, gov
ernment is utterly incapable of creating these savings.
duce them. We hage saved too Httie and spent TOO
much In building more railroads than yet need
cd, or more factories costly houses fue stores in
keeping too many officials paying high salaries,
or IN was eful and extTavagant living We have 50
exhausted our means that nave enough to sus-
tain industry at full activity. What can we do
Produce ana save more In other way can the I'M
expended products Of labor be got except by labor.
Printing promises does n1t make more wheat for the
world 10 eat, nor the value to set our mills at
work. and employ farmers in raising more food for
ousy workmen. This unexpected purchasing power is
like the seed wheat, which u community saves from
the earnings Of one year 70 start the Industry of the
| next We have 1t stored and issue to each man
certificates emitting the bearer 10 share vi the
cOmmOa stock These are our legal tenders.
They represent certain share Of whatever pulchas-
| ing power is still unexpended in the comu unity.
But the warehouse catches fire. Much Of the wheat Is
/ destroyed There is no longer enough; some ol our
acres must De useiess-some Of our labor idle What
snal we doY Print more certificates" say Allen and
Pendleton "as many as the OF trade require 20
These men know very we'll hat the more certificates
will then represent each still less wheat Printing
note adds not Dushel to he store Ii only lessons
the value Of every share Of purchasing power we now
hold.
WHO is 1T THAT IS ROBBED?