Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1877-09-22
LABOR ANp CAPITAL.
Or the Curse OF Interest Bearing
Es0nds.
To the Edito1. of ne Banner.

SOuieliliIlS 10 SLY elttlST through III
medium of the press, or otherwise
in regard to "rhe Great Strike ,
or, as some termed it. " Labor VS.
Capital" As citizen, l have eve
felt deep interest in the prosperity
of our country and the success of re
publican institutions. As a laborel
and workingman, also feel a deel
interest in that class of persons who
must earn their living by I" the
sweat of their brow ~ or, in Other
words, by industrial pursuits. Fol
upon these persons, and upon these
persons alone, are we dependent,
not on J for all the necessaries and
luXurieS of life, but for all else that
is necessary to add to the prosperity
wealth and power of the country.
Now whilst this is true, and all per-
sons of even ordinary intelligence
will acknowledge it to be true, it is
not strange that in nearly all cases
labor is considered inferior, and must
submit to all of the whims and ca
prices of capital, or, in other words,
that the creator is forced to bow in
submission to the creature of its own
production. Though this is strange,
it is strictly true, that labor is first
1 the creator and then the slave of
capitol, the former being look down
| upon patrOniZingly, and considered
/ inferior by the latter. For the eX-
istence of this state of affairs the
capitalist, or man Of wealth, is not
alone responsible, but the laborers,
or wOrkingmen, must take unto
| themselves a full share, and at the
same time should know that so long
as they continue to allow themselves
to be duped by partisans or political
demagogues, (Who are often paid
agents of capitalists as soon as they
are elected to power), and fail to eX-
erciSe their rights as freemen in ad-
vocating principle and not party,
they may expect their condition to
get no better.
Probably at no time in the history
Of our country has so wide a gap eX-
listed between labor and capitol, or
has capitol held labor so completely
in its power, as at the present time;
and just so long as the curren-
cy Of the country is contracted
and interest bearing untaXed bonds
are issued, just so long will the gap
continue to be widened, andthe pow
er of capital over labor be increased.
Every interest bearing United States
bonds that is issued is Simplyanother
link Of the already CALLING chain
that is now weighting and binding
down to the dust the industrial
classes of our once free and prosper
Gus country. This is true in every
sense of the word, and right here /
will state, knowing what | say to be
true, that no curse of such magni-
tude ever hung over any peaceful,
republican nation as now hangs over
this, in the form of United States
intereSt-bearing aMtdfed bonds
These and other interest bearing
bonds are the main or principle Of
the decline in real estate, the great !
depression in all branches of bust |
ness, and the labor troubles that has
lately existed throughout many
states of the Union.
The legislation that caused this is |
sue was done exclusively in the in
terest of capital and wholly at the
expense of the industrial classes, by |
political demagOgues, for party pur-
poses and for the brides they re-
ceiVed.
The greenback currency that could |
be used for the benefit of the rich, |
the poor, and all classes, has been
withdrawn, and in its stead interest |
bearing bonds, which can benefit |
alone the wealthier classes, have
been issued. 1t cost the Govern
ment nothing to maintain the green
back debt, whilst the bonded debt |
must cost the people millions of dol
lars annually.
Although this immense fraud /
upon the industrial classes of the |
country costs them annually mil
lions of dollars, the bondholder, who
is alone benefited by it, pays not one
cent OF this cost.
The farmer must toll from early |
morn until the shades of night de
MES him the privilege of longer
working, his family denied all of
the luXuries and many of the neces-
saries of life, in order to pay this |
interest to the bOndhOlder.
The manufacturer and merchant |
must reduce the pay of their en-
plOyes, and econOmize in every way
possible, in order to meet other eX-
penses and pay the bOndhOlder his
interest twice per annum in gold.
The poor labOrer, whose hard earn
ed wages will scarcely furnish the
most common neCesSarieS of life to
his wife and little children, must al
so pay punctually his little mite to
the tax gatherer, or have his hum
Bile home advertised and sold for
taxes. Even the poor widow whose
husband and sons have given their
lives for the preservation and honor
of the Government, must also pay
her part of the bondholder's inter-
est, or be turned from her little
home upon the cold charities of the
world.
The bondhOlder with his one mill
lion in United States bonds draws
from the working classes
Of the country sixty thousand dol
lars in gold, and pays not one dime
in taxes on his property, valued at
over one million of dollars.
The farmer, the mechanic, the
the manufacturer, and all
other classes of working men whose
labor adds wealth and prosperity TO
to the wealth of luxury
of him who is constantly taking
from, and adding nothing to the
that supports and pro-
tects him.
Can any one see anything in the
legislation that created United
States bonds, and National Banks,
and abolished the entire State Bank
that is in the smallest
degree beneficial to the poor man?
Not one item. The revenue that is
being drawn from the industrial
classes of the country to meet the
interest on United
States bonds is not by any means
the only curse that should be at
tached to them. They have drawn
very largely the capital from real es-
tate, manufacturing enterprises, in
ternal Improvements, and all else
that sustains labor, and adds wealth
and prosperity to the country.
Real estate has declined one half,
not because it is really worth less,
but because the money that would
purchase it is invested in untaXed
United States bonds.
New industrial enterprises of all
kinds that has heretofore furnished
both labor and bread to the indus
trious poor man and his family, is
now hardly thought of, because the
oo1i+aliC+ can find battnp iOUnSt- |