The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1877-10-13
CURRENCY REFORM.
Texts for the People.


"When the bill was on it's passage, 1.-THE
bill for the payment VI the ). 20 bonds,l th,
+ Of the Committee Of Ways and MeAas and q
expressly answered by him, that only
the interest was payable in coin "-Thad.
deus Stevena.-
''If the bond holder refuses to take the
same kind Of money with which he bought
the bonds, Ne is an extOrtiOner and . robber. "
> John sherman.
: I'VE shomld do foul injustice to the Gov
ernment and the people Of the United States
after we have sold these bonds on an average
. for not more than sixty cents on the dollar,
row TO propose to make n new contract for
the benefit of the holders % p Morton
While our present monetary system.
! which II . shameless fraud, continues, the
poor man will becnme poorer, while frauduI-
ent monty brokers and bank note muuipula-
tors viii abserbe the products Of labor. .h+P.
Hnghee "a Pennsylvania.
y a epn4in a tnna when u trua .,Ameri.
can syecem On hkee 10 addpssd. &kiSk dkkll
J put all that circulates ~ money entirely Ara
exclusively under the control Of the Govern
ment, making it receivable for all dues and
debts, employment for all the working classes,
|
natural and perm anent Peter Cooper.
when the country will realize the Rloriea
OF gold basis and J, srn what is meant bv
lrredeemabie trash, he fallacy and cheat Of
gold basis. will have been demonstrated
for the thousandth time.-Samuel y. Cary.
THE gold gamblers ha"" manipulated Con.
gress so as to dlscred its own Daper that
they might swind. the people They 10
complished that end, and now they would
destroy the money Of the people that thev
might largely appreciate their ill-gotton
gains ns-Thaddeus Stevens.
'Exhorbitant rent commonly called inter
est is silently but surely devouring the sub
stance Of the people. Peter Cooper.
President Hayes salary is paid in green.
backs, so is Governor RObinson's. WIN
then, should we pay gid to the bondholder.
seeing that the bOndholder lent greenbacks
to the government and not gold. Richard
Mon gomery Griffin.
'N1 single interest touches the domestic
comfort and prosperity Of the people as thia
one Of the currency, and in the present con
ditlon of the country none is Of such imme-
d'ate Importance, calls for more immediate
solution. TO put n this question, therefore.
with vague expressions Of reform. and the
desireableness Of specie payments, IL 10 iQ-
more the ruling interest of the hour Ii IN 70
/ surrender the people to their sutferings with.
out any promise of remedy. Peter Cooper.
The people are the sovereign power. and
no man can question their right Through
CoDgress) TO make as much Of the medium of
exchange (mnney) as will be necessary for the
wants Of trade. Paper money il better than
either gold or silver, its volume cannot be
contracted by using It as merchandise John
Magwire, Of st. Louis
That millions Of people should be idle.
and In many cases absolutely starving not
because there is no work 70 DO, but because
there is no medium of exchange, is a disgrace
to our governmental New NOIk Mechanic
Money should Be q thing of Or bsloasSe~
I to the country. An exportable commodity
is not fitted to be money. And nothing could
be more monstrous than E1g lands principle,
followed by the United states, u forcing
--r--Ole e be buyers n gold. and making their
eles in the world the condition OF beip.
able TO furnish themselves with bruad AMI
clothing Isaac Buchanan, Of Canada.
The amounts Of money needed in a couA-
try should be determined BY the wants Of the
people, and can only be done by national
paper money. ey.-Henry Carey Baird
The hlindest ignorance regarding the
financial history aud status Of the world pre-
h0AAc ahlohkot All tiassec huN ~ IduHuL IN our
colleges, and Is most cOnspicuously manifest
ed in the Law making and executive depart
ments OF our Government. We propose A
rational currency to consist wholly of green.
backs, to We entirely controlled by the peo-
pies representatives, and thus to be absO-
iutely beyond the control or influence Of spec
nlstors IN gold. Sydney Myers, Of Chicago
wv hat is government good fOr, If in such
country as this, with all its material re-
sources and vast extent, 1t cannot prevent N
large part of its people from the distress Of
want Of work and of bread This seems to
me the frst duty Of government
Cooper.
we boast Of having liberated four millions
Of slaves True We have stricken the shack
les from the former bOndsmen. and brought
all laboTers t. a common level but not 20
much by elevating the tormer slave as by re-
ducing the whole working population to .
state Of practical serfdom. While boastinR
OF our noble deeds we are careful To- conceal
the ugly fact that By our niquitous monetary
system We have practically nAtionalzed
1 system Of oppression which, though more re-
I hned, is only less crue than the old system
Of chattel slavery Alexander Campbell,
Of Illinois
Foreign debt, carrying gold interest, il
what Is crushing the hearts and hopes Of
! the labOring people Of our country Ii Is
that Indebtedness which il filling our aims
houses with skilled mechanics and stripping
the thrifty labOrer Of his earnings Judge
Kelly.
Cold and silver are not instrinsically Of
equal value with iron Their value rests
chiefly in the estimation T. ~ happen to be in
among the generality of nations Paper
money has great advantages over gold and
silver, as it is not likely q have its value re-
duced by expectation. = amin Franklin.
However fertile country may be- interest
even at two per cent. will inevitably oppress
the producers. E iward Kellogg.
Bank paper must bs' suppressed and the
circulation restored 10 the nation, to whom
It righfnly belongs "-T Thomas Jefferson.
The question y not between gold and ~
per currency IL is between a paper curren.
cy issued directly by the peoples agent, and
mace redeemable N government bonds and
paper currency issued by class, and theo-
retlcally redeemable in gold, but practically
redeemably in nothing --Sy Sydney Myers.
One great purpose " the money power
who have brought about contraction, is 20
control the mass OF the eople, that they
may further enrich themselves, aud pandrE
to their lust of power Further imt,oyeriah.
ment may render further resistance hopeless.
ana they who would he free from this great
money despotism must strike the blow befor.
It p TOO late. r hughes, Of Pc ,nsylvania.
II look upon this contest Tthe discussion
IN Congress AS t0 ~h-ther the interest On the
public debt should be pIid IN gree, backs or
gold as cUntest belween the curb stono
brokers, the jew brokers, the money chang
ers, the men who speculate ia stocks. and tb~
productive toiling men II our country -
Henry Wilson.
; The London Mining journal advocat4s .
} the use ~ telephones ia mines. should