The advocate., 1892-02-24
GIVE Us FULL LEGAL TENDER N0TRS.
10 the Editor of TIE ADYO4ATR.

GIVE Us FULL LEGAL TENVA& GVG4~'
10 the Editor Of THE ADVOCATE.
"Hew to the line let the chips iAll
where they will" OF all the Questions
agitsted the financial question receives
the most determined opposition.
NEw YoRK, Feb. 5.-R. @. DUN & Co.'S
Weekly Review Of Trade win say
In spite of much dullness and complaint
in some important branches, trade iS grad
ually enlarging.
In financial and speculative circles, new
thsless, some apprehension appears because
of the advance in foreign exchange from
S4s6 to $4 81, in spite Of the enormous mer-
Chandise balances in favor Of this country.
It is argued that this shows very heavy
withdrawal of foreign capital from thS
country, because silver legislation 10 feaFed'
or for some other reason, and that in emeCb
Europe will pay for the breadstuRe and COT
ton needed bysurrsndeEing titles to Annex
ican property. Ifso, this country can fair
" well afford to own itself.
1t seems by this report foreign capital
is being exchanged for the products Of
labor. They simply surrender claim to
past products of labor for present Whyt
Expected change Of vOlunm Of money,
through free coinage Of silver. II more
money will cancel foreign claims, as cap
ital, throught transfer Of labor products,
why would not free money or money at
cost issued and controlled by the people,
through their highest power, the gov
ernment, free US from sll so-called cap
ital9 We only need their capital
through credit in place Of money and II
more money is issued, foreign capital ID
surrendered for it's face value in our pro-
duct. It plainly shows capital TO be In
vested interest upon which more inter
est is squeezed from labor. Thus free
coinage Of silver would not hurt labor.
The danger would be In CapitalistlC CON
troll, giving them power to speculate, ex'
pand and contract our money, which they
would not have IL full legal tender were
issued and controlled by the govern.
ment. If more money drives capital
from the field, fills It's place and stops
usury through cancellation Of debt, there
is no call for capital only through forced
debt. Allow me to explain what mean
by forced debt. A. buys q bill Of mer
chandIse Of B.; the bill is presented, cash
30 days. We all know 80 days is moi
cash, it Is a lie. Why this evasion 7 OuI
best informed business men admit thai
not more than s per cent Of the business
Of the country is cash. Then 95 per cent
must be credit, or 10 to / of cash. Giving
them chance to turn the money or casf
19times leaving them eleven days o
grace. Thus we are but one-twentietl
represented In money. 1t Is all bOsh u
say II government ISSUES legal tender
to represent all properties our foreigE
credits would be destroyed. There Wonlt
be no need of credit Industries wOul'
be qulckened, which would strengthen
the government and cancel all demand
through products Of labor, thus cuttinI
of all usury through nonresident capl
tai. 1t would be just "a much sense b
say that one-twentieth Of the poStag
stamps now issued be controlled by col
porations, their credit replacing the 9th
or rnineteen-twentieths, which would CIV
them the power to contract and expan
that It would be as cheap 70 the peOpl
as the present system. The people woul
all say, Aeeced, defrauded and robbed.