The Labor enquirer., 1884-07-19

| I1kor ~ - / 6Ssl ID i = = hi|k
/ only poalible q 10 dons ~ Dir ~
which snaliles this Odd sosfethine p
szstch 81 sucsidn ufpe % everx known
| paace on fhie elobe, and thereby lay Is
| under tribute to Is and to coyer mp il
tracks from those Who do not take the
trouble to think it ont for henselvea It
| Is given the hieh.sounding titles Of com
merce with othcrs nations. developing
| industries, etc. As sr illustratian Of this
! / win take the state Of Colorado. and
what do I find i find that in this state
there are over teOOO0DoO Of foreign CAP
| ital invested. helping to develop oar In
duaries, drawing interest It not isn than
! 10 per cent der annum, footing up NO less
than 81 100000 per annum, going out Of
1 the state. Now let us SEQ how many men
lit viii take to labor for 365 days to make
/ iupIthis interest, at - per day. It would
require about $50 men to earn this
amount Now just imagin the labor of
! $50 men shipped out of the state to
meet the requirement. Of this legal rate
] Of interest, which our av-makers inn
posed on us ahd this in lace of the fact
that the government has, laying idle in
the treasury, somewhere between $780,
100000 and sseO0 100000 and somewhere
between $50, 600 900 and $275, ,O00, 600 of
bonds due and that can be paid off, and
thus release this money and stop interest
on those bonds, in advance as we are
doing now. Part Of this money SO re-
leased by paving the bonds-would
find its way to this state and supplant to
some extent this foreign capital, SO that
part of the interest would be left in this
country, and not be shipped out Of it to
help support foreigners, many of whom
never saw this country and have not the
slightest intention to do 50.
Our republican and democratic friends
| in congress do not and cannot see their
wayvand if they did. they dare not
to pay of these bonds and release this
money that it might 60 into the channels
1of industry, and thus put much more
currency in circulation in the hands of
those who (under present circumstances
borrow money, even at those high rates
Of interest. and even although the toiler
has to pay it In the present case,
of two evils let US choose the least
and the least would be if we have to
borrow money, let us borrow it of home
in preference to foreign, and
thus keep within ourselves this interest,
(which is taken out from US: But some
lone will raise an objection and say, do
you suppose that / am such a fool as to
Elet you have money without You pay me
interest for it. Why, is it not plain that
THE money is mine and | can loan it or
not as I please, Just so, do not dispute
your title to the money or to your loan
| ing it or not What claim is that you
have been favored BY a well understood
law among your class, giving your
capital an advantage over labor, and I
mean if possible, to have the law smashed
to atoms, and after that, I care not
whether you are fool or not, if you do
mot loan your money You can keep it.
I can getit from the government when
the bonds are paid off and the national
banks destroyed, at the same rate, if not
lower, than the government now lets the
Dational banks have it, and that is one
half of per cent per annum. 4
Ex-Treasurer Spinner has shown that
q per cent of mills per annum on the
dollar Is. enough to pay asiRterest for the
loan of capital. That is 50 on the 81 900.
Now how would you like to loan your
money at that small rate of interest.
Had workingmen who understand the
system been in our legislative halls,
either state or national, they would have
80 legislated that you would not have 1t
in your power to rob the worker by laws
made particularly in your interest and
against theirs. Do not pray you,
money loaners and bankers, lay the
JUNCTION to your souls, that relieving the
toilers of the bonded Indebtedness of
the government great as it is, is all of
the mission of the grand party, of which
am an humble member. No, we do not
mean to cease the struggle till such time
as we can say, and say truly, that we
have relieved the toilers from all bonded
debts, municipal, state and national,
which at the present moment amounts
to 10000 100000, and put your money
lending class where if you will not
require to pull off your coatsito make an
honest living, you shall not be able by
the aid of the law to live off of the toll
ofothers. This is our mission, and there
is not toiler in any land, / care not
| 81 1 I !. \ lr / I