National Republican., 1877-11-16

bo defrnuded OF its hire, money was made
of the precious metals having n large in
trinsic value and least liable to fluItuate.
Such money was md is good in every coun-
try under heaven. The laborer who was
prudent and economical could save por-
tion of his wages and tinvcl in foreign
lands But with the Use Of money came
merchants, whose bu sincss 1t was TO buy
from producers md sell to consumers. They
assumed the risks incident TO trnnSporta-
tion, liability OF damage or loss to pcrisha-
bic articles while in froRsiin, and of lluctua-
tion in prices. This Lind Of middlcman is
very usclu, to both the producer and the
exchanges of tho fruits of their
labors for m hundred families, and in this
is found great economy. Fatthcr on arose
another class OF dealers, who nre to society
what the droncs arc to the honcy-becs.
They arc non on-producors and non-helpcrs.
They are known ns speoulutors. They live
by their wits. They use their money in
nouopolizing one or another of the articles
Of subsistence, or clothing, or stocks, and
bonds or even gold AMI silver coin, thereby
forcing seeming scarcity and conse-
quent rise in prices for their own
benefit. This ciass produce nothing
but scarcity or glut and misery. If
the human race were no mofe tolerant than
the bees they would fare hardly. Asit is,
they usually manage, through their many
inventions and schemes, to obtain the lions
share OF the earnings Of labor aud nick
name il "cal itsl." Then they strut around
aud enlarge upon the bcneiicent designs OF
capital Capital is their god, and they
try to impress the people with the idea that
he is very bcnefcent god In this they
succeed pretty well, for We are all apt to
worship large money-bags, no matter how
the contents are obtained.
But when We reflect that the joint stock
associations are chiefly used by spcculators
for the purpose of drawing from the small
earnings OF labor and adding to the large
accumulations Of capital, we fail to see where
the bencicence comes in. When we see
joint stock monopolcs manipulated by II
few Of their leading managers, through the
wheel within wheel Credits Mobilicr, so
that only the favored members cf the latter
mutual-admration close corporations may
be largely benefited, we are apt to charie-
terize the companies as shrewd swindlers-
The labor troubles Of the present day, as
well Us the financial difficulties by which
we find ourselves surrounded, grow out Of
q lack Of discrimination by the people he
tween the legitimate trader, banker, and
capitalist and the speculative class OF pre-
tended capitalists that we have last d.
scribcd. The legitimate class are bencf-
Charles. The speculative class are gamblers.
The former aid commercial exchanges and
the honest accumulation of property by
prudence and economy. The latter
clog exchanges in order to fuctuate
! prices in aid Of their gambling
schemes. The former purchase with and
sell for real money to large extent The
latter buy and sell. Or rather Operate" al.
most entirely upon credit or with credit
money. The business motto OF the for.
mer class Is "chcap for cash"-that is
money having M intrinsic value. The
policy of the latter is to put up n corner
in coffee, sugar, or cotton, stocks, bonds, o
gold, or anything else that is handy, ant
clean the weak ones out by Sizing thci
piles" The banl:s lend them the none,
with which to accomplish these vile pur
poses "on call, when they would refuse Il
discount an honest merchants note who i
transacting legitimate business.
Hence it will be observed that homes
labor demands remuneration in money o
intrinsic worth. As the only creator o
worth, labor has right to dictate the char
uctcr of its remuneration. Next it demand
the exclusion OF speculative mOnopole
from all benefits of legislation. 1t demand
that legislation in favor of these monopC
lizing classes shall cease, and that the intel
est of the producing classes shall be para
mount everywhere, as the parties who cre
ate the wealth and pay the taxes.