The Labor enquirer., 1884-07-12
CORRESPONDENCE,
GreenbacKisfn versus Socialism,. 3

Editor Labor Enquirer. .N
- LEADvILDE, July IL had not the re-
motest idea, when 1 penned my letter on
the "Hydra.Headed Monster of Finance" ;"
that l was at all-laying myself amenable
to such fagellation as l received at your
hands with your Socialist club, seeing
that conceded all that you claimed for
it--short of Revolution. There is one
thing that I:feel thankful for, and that is
that / havenow discovered where1 have
to look for the grievance of which So
cialists complain, viz, "the competitive
system of wages" take it for granted
that this is the major grievance of which
you complain. You seem to think that
the greenback theory does not and can
not reach this evil in the social body
and hence to cure this there must, "by
the logic of events" be a bloodless Revo-
luton, "if possible" and to bring about
this bloodless Revolution, if possible,
you lose faith in the only weapon-the
ballot-by which this is possible of ac-
complishment.
Now, friend Joseph, if this is not su-
perfciality, in reasoning would some one
tell us what it is? And, as we are both
co-workers in the cause of humanity,
you seem to think that l have stumbled
upon one of the many tombstones ofthe
victims of the competitive wage sys-
tem," and not the poison, when l, STUN
bled upon the greenback theory. And
at the best you say it is but superficial,
kind of half and half affair, and not in
any way to be regarded as the "head
half" and to make sure that this is your
meaning you say: TOO much is claimed
by the greenbackers, and like some other
'reformers,' they are superficial and do
not grasp the whole question. Let us
hope that they soon will" Now what
is the whole question that greenbackers
have failed to grasp2 Have they failed
to grasp the present anomalous state of
society," Have they failed to grasp any
one of the Socialistic questions of the
present age? If so, what are they :?
Pray give US the whole question, and if
we have failed to grasp any part of it,
then we shall be ready, have no doubt,
to make amends But it can be clearly
shown that the greenback theory not
only embraces all that is claimed: by So
cialists, but, as said, goes beyond it and
digs down deeper and finds not only the
"victims" of the competitive wage sys-
tenn as such. but finds below them the
power which made the competitive
wage system" possible. Then what be-
comes of your half of the affair ? Which
end does 1t represent? And, as you have
appealed to Cesar, to Cesar let us take
the subject e. to history. And what
has history to say in the matter? 80
There will be no use in going beyond
the Christian epoch for our demonstra-
tions. What do we fndP Rome-or
more properly-the mistress of the then
known world, in all her splendor, with
her legions of soldiers, her armies of arti.
sans, all her Industries taxed to their ut
most extent in keeping pace with con-
sumption. And if we can form fair
estimate from profane as well as sacred
history, they were comparatively happy
and contented, and above all, they had a
circulating mediu m of 81, ,S00,OO0,000 or
500 per capita, when works Of internal
improvements were carried on, not by
corporations of capitalists for individual
gain, but by the state for the general
good. And rightat this time sprang into
existence the financial system of the
present day-so far as Europe was and is
concerned up to the present time and
which the greenbackers are striving
might and main to destroy in America.
Now witness the effect Of its pernicious
effects. In order to clearly see it, it will
be necessary to formulate 1t as follows
When Christ was born, amount in
a. D. q, amount IN circaIation, i,sSS,o SSSS
A. d. go, - - a. ia 909,OO0OOo
A. ID. 40, 537, 100000
a. d. 6s2 'E nass i.9i.s t 256,000OOO
A. p. @6, 16S,0O0,000
And Sir Archibald Allison, in his I" His
tory of Europe" tells us: "That as a |