The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-11-14
TWlTHeRs EVERYTHING IT TOUCHES.
This Scouree Has Made More Slaves,
Caused More Suicides, More Crime and
More Misery Than All Other
Causes Combined.
To the Editor of the Irish World

o the EUltOr OF the lrlSn world.
Every man has right to know the
exact principles upon which he is
asked to support apolitical movement.
The Greenback and Labor uprising
has grown out of the effort oftcapital
to control the finances of the nation
and the labor of the nation. If capital
can control the Greenback it can con-
troll labor; for circulating medium
is as essential 20 labor as labor is
essential to production. The one is
dependent on the other. 1t requires
no argument to show to the laborlng
man, whatever may be the grade.
scale or order Of his industry, that his
compensation for his labor, or for
what he produces, depends, and
always must depend. upon the demand
there is for his labor or his produc-
ton. II money can be procured at
rates Of interest in such quantities as
to keep manufacturers and producers
proftably employed, then every
energy is in active operation, then all
labor is employed, then liberal wages
are paid, then ready sales, quick mar
kets and prompt payments secure
universal employment and universal
prosperity. Indeed all experience
demonstrates that public property,
which is but another name for uni
versal employment, is regulated,
measured and controlled by the rate
of interest, or the supply or the
medium of exchange called currency.
If an English manufacturer can
loan money at two per cent to carry
on the manufacture Of any article
g, Il 4 nrip
the American has to pay seven per
cent. then the Englishman. supposlns
the capital required to operate d
fairly organized cotton, wooden. iron,
zinc. or muslin goods mandatory to
be $s500,000, has the advantage over
! the American Of &25 900 annually IN
the interest he has to pay. This IS OF
/ itself an immense profit. And every
4 dollar of this $.5 900 is annually taken
/ from the labor OF q single manufac-
/ ing establishment before the manu-
facturer can be on par with the
English manufacturer. This tax upon
/ labor, surprising the number Of hands
| to be employed to be 200, would be
! $125 annually, difference charged to
! each workman in interest between
the two per cent and the seven per
cent interest. This compounded for
ten years would take from each one
/ of the two hundred operatives $4,000,
or enough to buy him comfortable,
convenient. and respectable home
stead.
Behold what the gripping, grasplng,
relentless law of seven per cent. takes
from the laborer This is no to be
charged to the manufacturer, for he
is not to blame. He is enterprising;
he takes the risk, he bOrrows, and is
forced to charge the interest he has
to paw on the money he uses to the
men he hires to do his work.
Look ut it in another light. The
mechanic buys house and lot, and
furnishes it; and it costs him say 81
500. He has laid by $500, hoping by
industry and economy to work it out
ut two per cent. 1t would be less
than so cents week, and, at fair
wages, he could easily spare three
dollars week besides the inter-
est to pay on the principal, but ut /
per cent it is $l40 year. or nearly
$500 week; and so to be just rs com
Portable it would only be possible for
him to pay eighty cents week. In
the one case he could pay Slo0 4 year
on the principal and interest for
what he would have to pay for inter
est alone on The other. That is what
living capital. working and sweating
to produce wealth, is forced to pay rs
tribute to dead capital. living in idle
ness. or riotiGg in drunken luxury.
The irst, / may almost say. the
fundamental object of the National
Greenbaek-Labor party is to Kill in
terest on the national debt, by paying
off the national debt in Greenhaeks
thus SAILING Sl02,O 900 annually
now taken from the producer and
paid TO the idler. Again. the moment
the government ceases TO he 4 hor
rover. paying interest, and issues it;
own money to pay its own expenses
1900. 900 900 of money is placed or
the market, to he loaned or to be used
in those Industrial employments
which demand labor and must employ
it, so. too. the moment the govern
ment bond is removed as Il III cans Of
investment and security. that moment
the government as a borrower, diSap
pears, and money lenders will either
be forced to lend their money at 4 low
rate of interest, put it into merchan
disc, manufacturing. or farming, OF
lock it up.
The United States can regulate in
terest; for. controlling the issue o
money-forever breaking down an,
annihilating the power of gold ant
silver TO cruelty labor, enterprise
energy and business. and having tn,
power not only 10 declare what shall
.nuStituta money lint 70 issue tina
which they declare is. and shall be.
lawful tender. and lawful money, the
can curb, and forever annihilate. tn
tyranny with which the holders o
coin have so long and SO terrihl,
dominated over the industries OF tn,
world.
Ifthe holders and controllers 0
the $3.50 600, 600 of coin in the Unite,