The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1876-05-06
FROM MASSACHUSETTS,.
ACToN, April %, 1876.

AcroN, April %, 1876.
To the Editor Of the woRKSsMAxs ADVOCATE
| wish to present and illustrate a fallacy
which prevails to an extent worthy Of at
tention. In order to do so in a manner
which shall be effective, | will take the
presentation Of this error, as given by a
friend, Mr.. J. F. Bray And trust this
will be considered in the light Of friend
ly criticism, for the sole purpose Of bring
ing the truth to the surface through a
manly and fearless discussion. Mr.. Bray
says. in substance
"lf Mr.. A., having farm, which is worth
I in open market $40, 900, is given 81, 900 of
currency with Jut interest, except Just
what it cost to meet the expense of PRINT
ing the bills and the other banking opera
tions, it will virtually give him an extra
power to tyrannize over and plunder the
poor man who has no wealth.
This is furnishing the rich man with
money, in fact, gives him more riches.
while the poor man who has nothing but
his labor TO sell, can obtain no advantage
by the way Of currency to assist him IN
business, or in any way to set himself to
work
Now what we want is some sort Of a
system which shall give the poor man a
chance to live independently of the rich
mans money. To that end, the govern
ment should furnish currency to present
labor. And as labor must pay all de-
mands whatsoever, there can he no risk in
furnishing present labor with tools to work
with. All that is required is proper or
gaDiZation OF the laborers into working as
sociations, in such way that that every
thing may be conducted in tie most
economical wanner."
Mr.. Bray makes fatal mistake in sup
posing that in granting to capital the priv
ilege or right Of using its credit in busi-
ness without any tax i'll the form of inter
est, that thereby the laborers are wrong
ed. For this tax is certain to come out Of
labor, finally, as We can plainly see that
the rich man never pays any interest now,
except in the operation Of becoming
poorer.
As matter of business, the poor man
cannot borrow money under any system
and if the man of wealth is not charged
interest, why, the whole thing is abolished.
At the present time the price Of goods
is more than doubled by this subtitle and
mischievous monopoly, which creeps out
in the form Of interest on money. What
we want is representative money and the
xyaalth
existence, otherwise it is not what it as
sumes to be. To Issue money on prospec-
tive wealth-something yet to be pro-
duced would be foolish, and not in ac-
cordance with any business principles
worthy of thought. If the workers hold
the wealth to secure the returns or pay
ment Of the notes, then they could obtain
the same agreeable to the plan advocated
by myself Poor men are as mean as rich
men they will not trust each other, and
they know that they are not trustworty.
As a matter Of business, no man can OBJ
tain credit without security. And that
should be so for several reasons.
Life is uncertain f; any one man is liable
to fall into temptation and become dishon-
est his expectations uay fail to be real
lied in many ways and thus the plan Of
Mr.. Bray's, Of lending money to poor men
who cannot give wealth in pledge to secure
the returns, that is the redemption of le-
gal certificates Of public credit, would be
unwise in the extreme II is not the
lending of money to men Of wealth that
wrongs the laborer. but il is the monopoly
which cOmDels some other business men to
buy that same credit, or money, at Just
such price as the circumstances will al
low avarice to enact. In fact, whatever
helps business as such. also helps the la
borer. Why is 1t hard times now Simply
this-business is dull.
say to all strikers, as a general rule,
you are striking at the wrong place. To
bring about any lasting good, you must
combine and strike at the ballot box.
Monopoly must be voted to death. And
from what know about it, | consider the
greenback political movement the next
step, in the progress Of society, to some
thing better. The logic Of events is not
the logic Of books. If the people can get
it into their heads that they can furnish
themselves with currency at cost. they
will soon learn that to pay more than that
is fools performance.
BENZ. SKINNER.