Year: 1866

I'D productive INDUSTRY ana IN the 0iStrlDu-
lion Of the productions Of labor; and that
lSborers ought Of right-and would under
ljust monetary laws receive or retain the lar
ger proportion Of their productions. That a


moderate amount Of labor will produce an
abundance Of the necessaries and comforts
Of life to supply all who are able and willing
to work; that the wrongs, expressions and
destiturion which laborers are suffering in
most departments of legitimate enterprise
and useful occupation do not result from in
suficiency Of production but from the unfair
distribution OF the products Of labor between
capital and labor caused by the institution
Of money on wrong principle and with too
great power over labor and property; that
the properties and powers Of money are
legal and entirely independent Of its material,
its utility depending upon its legal pcwer 10
represent, measure, aecau54ate and ex-
change value; and that these powers given
to any convenient material by Congressional
enactment will qualify 1t for a medium OF
exchange and in every particular constitute
it's money; that money is the medium OF
distribution to non-producing capital and
producing labor the state &C interest deter
mining what proportion of the products Of
labor shall be awarded to capital for It's use
and what to labor for its production that
the power to make money aud regulate its
value is an essential attribute of sovereignty.
the exercise Of which is by the Constitution
OF the United States wisely and properly
granted 10 Congress and IL il the imperative
| duty OF Congress to institute it upon such a
wise and Just basis that it shall be directly
under the control of the sovereign people
who produce the value it is designed to re-
present measure aud exchange that IL may
be correct and uniform standard of value,
and distribute the products Of labor equitably
between capital and labor according to the
service or labor performed in their produc-
ton.


That money can be thus instituted by the
issue of treasury notes made legal tender
in the payment Of all debts public and pri-
vate aud convertible at the option OF the
holders into government bonds bearing 4
just rate of interest sufficiently below the
rate Of increase in the national wealth by
national production, as to make an equitable
distribution of the products of labor between
capital and labor reserving to Congress the
right 10 alter the same when in their Judge
ment the pubic interest would be promoted
thereby, giving to the government creditor
! InS right to take the lawful money or the
interest bearing bond at his election, with
the privilege TO tie holder 10 rec0nvert the
bonds Into money or the money into bonds
at pleasure that the law enacting the so
called national banking system is delega-
ton by Congress Of the sovereign power TO
make money and regulate Its value TO class
Of irresponsible banking associations, there
by giving TO them the power to control the
value Of all the property IN the nation, and
to tx the rewards Of labor in every depart
ment Of industry, is inimical "a the spirit Of
liberty and subversive Of the principles OF
Justice upon which our democratic republi-
can institutions are founded and is without
warrant in the Constitution and that justice
reason and sound policy demand its imme-
late repeal and the substitution Of legal
tender treasury notes as the exclusive cur
rency Of the nation that this money mono
| poly is the parent Of all monOpolies--the
very root and essence of slavery-rail road
warehouse and all other monopolies Of
whatever kind or nature, are the outgrowth
of and subversient to this power and the
means used by 1t to rob the enterprislng,
industrial, wealth-producing classes of the
peoducts Of their talents and labor.





teCi life and secure the rights of property
each should share its just and proper pro-
portion Of the burdens and sacrifices neces-
sary for its maintenance and perpetuity,
and that the exemption from taxation Of
bank capital and government bonds, bearing
double and bankrupting rates Of interest IS
a species Of dangerous and unjust class-egis-
lation opposed to the spirit Of our insttu-
tons and contrary 70 the principles Of sound
morality and enlightened reason.


That our revenue laws are unded on the
aristocratie principle OF governn snt, and are
unequal, unjust, and oppressive in their
operation, imposing burdens Of the govern
ment manly on the wealth producing clas-
ses and exempting money or non-producing
capital therefrom.


That our monetary, financial and revenue
laws are in letter and spirit opposed to the
principles Of freedom aud equality upon
which our democratic institutions are
founded there 10 in their every provision
maniiestly studied design to shield nom
producing capital from its just proportion Of
the burdens Of the government, thus esta-
blishing legal money aristocracy to rule
over and oppress the industrial classes
Should the spirit Of these laws become the
settled policy Of the government the wealth
will be rapidly centralized in the hands of
the few non-producers and instead Of our
government atforcing an asylum to the op-
pressed Of other nations our own citizens
will find relief from its oppression only
through revolution. That the government
is in duty and honor bound to do justice to
the soldiers who defended and maintained it
against open enemies by properly compen-
sating them for their services, by the equali-
zation of bounties or otherwise and by se-
crring to the widows and orphans Of those
sao were disabled or died in the service
q pension sufficient to supply them with the
necessary comforts Of life for which the
present one is entirely inadequate.


That the institution Of money on prin-
ciples Of justice will lead to the construction
Of new and competing lines of railroad and
other means Of transportation and thus de-
stToy the carrying monopoly that is now
imposing such heavy burdens on the pro-
ducers and consumers, it will shorten the
hours of daily tell and increase the compen.
sation Of labor in all useful occupation, en-
courage and foster legitimate enterprise in
the development Of our natural resources
more than all the tariff laws that were ever
enacted.


We therefore hold that the tine has ar
rived when the people should discuss the