The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1876-07-29

banking. 1 read books, large and ANAL,
papers and letters, no that now, I must my
there il nothing but this one work before
us, zoe mssss abolish sHsersss on money or im-
tsrsst on money s0iH abolisk Us.
In reading Edward Kellogg carefully,
We find just this and nothing more. And
what ia Kellogg's final testimony a. to the
remedy
1t in that the rate Per esnt. paid shall
just cover the cost of issuing.
Let me say to the reader-plsase notice
this point although the editors do not.
And further, when this subject shall
have been fairly presented. and the dis
cussion Of it commenced by even 20 few N
these editors of respectable attainments,
why, the good time is not far of.
No monetary system which includes Q
dividend paying bond can stand q critical
examination.
1t is easy for the advocates of one fool
ish thing to ridicule some other foolish af-
fair, but nobody can tell why rights are
not equal, or why some persons should
live in idleness, on the labor of some other
persons.
L have just been reading book, in which
page after page is devoted to the elucida-
ton of point which was one of the first
things saw and presented to the public,
touching this subject, In my own words
1t is,-lf B and G pay interest to each
other to an equal amount, no one ia wrong
ed, but it is performance to NO purpose !:
but If A continues to pay interest year af-
ter year, with no return current, it ia con-
trary to the natural law of compensation,
and therefore wrong. Consequently, the
final result must be ruin and death.
A man may as well question the fact of
sunlight as Of that
Now, as the common people will not
read, wish the editors would.
Take, for instance, Edward KELLOGG.
he makes fatal error at the start, but in
the last years of his life he thought himself
out of it.
He commenced with the usual mistake.
that money must be capable Of accumula.
ton by loaning at interest.
But the editor in the preface saws. ssThe
most important nelC point is the criterion
OF Just rate of iDtere I, derived from the
expense Of institutiug and circulating the
money"
How can dividends be paid when that
monetary system shall have been establish
ed!
That part of house rent which robe the
tenant is, in fact, interest.
In paying rent for the use Of thinos. We
get the use of things; and 1t is right, for
the things wear out. But it is not 80 with
money. And in buying goods we are sup
posed to pay for them but once; whereas.
interest may be paid sver 90 many times.
the demand continues, and we pay for that
which costs nothing, and we pay for the
wear of that which never wears out. There
IL a consumate fool somewhere
Mr.. Editor, is it II If it is, please in.
form me and | will dry up.
There will he fun and laughter when the
bankers, thin cheat is clearly seen.
Give MS equal rights to use what credit
we possess, by abolishing all special priv.
leges, and the working people will require
no class legislation.
We do not wish to divide the rich mans
wealth among the poor, but we only seek
to put stop to that which DIVIDES the
wages Of the workingman, especially when
the loafer obtains the largest proportion.
BENJAMIN SKINNER