The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1876-08-12

And what is the speciOus reason for this
change "To return to specie PAYMENTS"
What can this policy result in but a
further distress and impoverishment of
this people and the building up of the in
terests Of a class, whose business il is to
invest or to lend money, and whose policy
will be to get the highest rate of interest :
Such are apt TO forget that the immediate
gain Of such policy, il far less than that
which arises from the prosperity of the
whole people, and the multiplication Of
wealth that comes from enterprise unim-
peded and industry constantly employed.
We may concede all that Ia claimed Of the
necessity OF ''specie payments" and our
currency being made on par with gold.
But this disastrous and ill-judged method
Of reaching specie payments, Ly the past
and present contraction Of our currency,
Is very unjust and cruel to our people for
it shrunk the value Of all property, 10 that
it could not be sold, or mortgages obtained
on it, for more than one-half the amount
that the came property would have brought
three years previous, and reduced the
wages Of labor to the same degree. This
return to ''specie payment" may be made
without such injury, by honoring the
/ fASShDo~h "a ONOAy Wy " nAoAhAk A. "a
clusively the currency as well a. the legal
tender Of the country by receiving it for
all forms Of taxes, duties, debts to Govern
ment, as well as the payment of all private
debts by establishing its value on a firm
basis, at fixed, equitable rate Of interest,
which it may always find in bonds inter-
convertible with legal tenders; and by de-
termining the volume of the currency,
I n. \ -
trade and industry Of this country may re-
! quire it to be, under the free use Of the
Inconvertible Bond. This great national
debt ought to be held az a great trust by
the government Of this people, and made
| the receptacle Of all the trust funds, and
/ The savings OF ali the poor among our own
| people. 1t should be an investment put
within the reach Of our own people, instead
OF being sent abroad to swell the Golfers Of
the rich III other countries.
/ If The Government, after the war Of re-
| belliun had been as anxious to heal the
wounds which that unhappy war created
to alleviate the poverty which it brought
on large section Of our country, to rein
| state the broken industries and enterprises
If our whole people, as it has been to carry
that war vigorously, at any cost, on to
/ victory, the Government would have seen
\ that peace had its demands as we'll as war.
/ Ii Government Is bound t. protect the
| people from the aggresslons Of war, it is
/ also bound TO save II from commercial dis
tress, and the sorrows Of a iaboring popu-
lation without work.
Sorry am to see, and say it without
any reproach cast upon the integrity Of
those concerned, that In the platform Of
neither the Republican nor the Democratic
| party is this great question Ot finance,
either discussed or recognized in its prin-
ciples. or bearings upon the happiness and
prosperity Of this people-except in a ray
/ tina. seems to me adverse to both
| have, therefore, CONSENTED with great
reluctance, to 90 before the people to vim
dIcate the great principle, that underlIes
all true Republican or Democratic lnstltlI-
tions-namely, that the interest and hap
piness Of the whole people are superior to
the demads OF interests of any one class
that in the neglect or defiance Of this prin-
ciple, the great debt Of this people, incur
red by war to save the life of this nation,
has been administered TOO much by the
advice, and in the interest Of a small class
that care for their income, but cannot look
out for or attend to active investments.
hence, they prefer the Bond to the Cur
rency and for another class who desire
the highest interest for the smallest invest
Inent; hence they prefer gold, to a paper
legal tender and for still another class
who alien to our institutions and country,
care only to tax its energies and wealth for
the highest interest they can draw for an
immediate investment of their mouey. But
these are not the interests Of the people Of
this country. Neither honor nor Justice
requires such administration of the public
debt of this county.
] feel, therefore, constrained by every
principle Of honor and love for my cOuu-
try, 10 come forward at an advanced age,
and with mind that would gladly seek
repose, after the tolls of long and labOri-
GUS life, to answer the call of a portion oi
my cnuntry-men, to try these issues before
the people Of the whole country to test
these truths which we hold te be as self
evident, as soon as they are honestly ex.
amined, as are the truths Of the Declare
ton Of Independence. One Of the chief OF
these truths is that as all rightful Govern.
ments are made for the people and by the
. I DGbRiG luC1 must DC " I'LL 9
parental care in the interests Of the whole
people and not for a class. No single in
terest touches the domestic comfort and
prosperity of the people as this one Of the
currency and in the present condition Of
the country, none is Of SO much immediate
importance, or calls for more immediate
solution. To put OF this question, there
fore, with vague expressions Of reform, anC
the desireableness Of specie payments,
is to ignore the ruling interest of the hour
1t is to surrender the people to their suf
ferings without any promise of remedy.
| appeal, therefore, from those who seen
insenslble to the cry Ct the people, to tbs
people themselves. appeal from th'
political parties, organized to control tht
Government, and distribute the offices anC
emoluments Of office, 70 the great indus
trial classes who are organized to protec
their interests and obtain some recognition
of their rights from the Government of th'
country. Let them substitute Co operation
for ''strlkes, and unite to save themselves
and the country, from the present disaster
and distress to all the industrial classes
Let no man think of the bullet while h
has the ballot in his hand. 1t needs bu
the use Of that simple instrument Of polit
ical power to rectify all our discontentI
and social evils.
Let us have our national currency dulN
honored let us take the testimony of tn,
nations experience, and that of Othe
countries, as to what such currency cal
do for our prosperity let the gold pa
be reached by rendering our currency Q
higher and indispensable uses, as now ex
emphhed in France, and not by contract
my its amount and let its volume and it
value be determined by the interconverti
bic Bond, placed at the disposal Of tn
wants Of the people and governed by al
the forms and sanctities of law ; and no
surrender the currency to the ever-chang
ing basis Of a commodity like gold-ant
We shall have peace ON the question
ssiustice will he ,.StablIshed and the Oen