Read Ebook: A Letter to Grover Cleveland On His False Inaugural Address The Usurpations and Crimes of Lawmakers and Judges and the Consequent Poverty Ignorance and Servitude Of The People by Spooner Lysander

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If, now, you ask me where these twenty-five thousand millions of dollars of money capital, which these laborers need, are to come from, I answer:

If you ask how this can be, I will tell you.

To make a note solvent, and suitable for circulation as money, it is only necessary that it should be made payable in coin on demand, and be issued by a person, or persons, who are known to have in their hands abundant material property, that can be taken by law, and applied to the payment of the note, with all costs and damages for non-payment on demand.

Then the bank notes will be re-issued, by discounting new notes, and will go into circulation again; to be again brought back, at the end of another three months, and redeemed, by being accepted in payment of the new notes discounted.

In this way the bank notes will be continually re-issued, and redeemed, in the greatest amounts that can be kept in circulation long enough to earn such an amount of interest as will make it an object for the bankers to issue them.

Each of these notes, issued for circulation, if known to be solvent, will always have the same value in the market, as the same nominal amount of coin. And this value is a just one, because the notes are in the nature of a lien, or mortgage, upon so much property of the bankers as is necessary to pay the notes, and as can be taken by law, and sold, and the proceeds applied to their payment.

The bankers, therefore, have no motive for issuing more of them than will remain long enough in circulation, to earn so much interest as will make it an object to issue them; the only motive for issuing them being to draw interest on them while they are in circulation.

The bankers readily find how many are wanted for circulation, by the time those issued remain in circulation, before coming back for redemption. If they come back immediately, or very quickly, after being issued, the bankers know that they have over-issued, and that they must therefore pay in coin--to their inconvenience and perhaps loss--notes that would otherwise have remained in circulation long enough to earn so much interest as would have paid for issuing them; and would then have come back to them in payment of notes discounted, instead of coming back on a demand for redemption in coin.

Now, the best of all possible banking capital is real estate. It is the best, because it is visible, immovable, and indestructible. It cannot, like coin, be removed, concealed, or carried out of the country. And its aggregate value, in all civilized countries, is probably a hundred times greater than the amount of coin in circulation. It is therefore capable of furnishing a hundred times as much money as we can have in coin.

The owners of this real estate have the greatest inducements to use it as banking capital, because all the banking profit, over and above expenses, is a clear profit; inasmuch as the use of the real estate as banking capital does not interfere at all with its use for other purposes.

Farmers have a double, and much more than a double, inducement to use their lands as banking capital; because they not only get a direct profit from the loan of their notes, but, by loaning them, they furnish the necessary capital for the greatest variety of manufacturing purposes. They thus induce a much larger portion of the people, than otherwise would, to leave agriculture, and engage in mechanical employments; and thus become purchasers, instead of producers, of agricultural commodities. They thus get much higher prices for their agricultural products, and also a much greater variety and amount of manufactured commodities in exchange.

The amount of money, capable of being furnished by this system, is so great that every man, woman, and child, who is worthy of credit, could get it, and do business for himself, or herself--either singly, or in partnerships--and be under no necessity to act as a servant, or sell his or her labor to others. All the great establishments, of every kind, now in the hands of a few proprietors, but employing a great number of wage laborers, would be broken up; for few, or no persons, who could hire capital, and do business for themselves, would consent to labor for wages for another.

We should, therefore, never have another crisis, panic, revulsion of credit, stagnation of industry, or fall of prices; for these are all caused by the lack of money, and the consequent necessity of buying and selling on credit; whereby the amount of indebtedness becomes so great, so enormous, in fact, in proportion to the amount of money extant, with which to meet it, that the whole system of credit breaks down; to the ruin of everybody, except the few holders of the monopoly of money, who reap a harvest in the fall of prices, and the consequent bankruptcy of everybody who is dependent on credit for his means of doing business.

It would be inadmissible for me, in this letter, to occupy the space that would be necessary, to expose all the false, absurd, and ridiculous pretences, by which the advocates of the monopoly of money have attempted to justify it. The only real argument they ever employed has been that, by means of the monopoly, the few holders of it were enabled to rob everybody else in the prices of their labor and property.

The holders of this monopoly now rule and rob this nation; and the government, in all its branches, is simply their tool. And being their tool for this gigantic robbery, it is equally their tool for all the lesser robberies, to which it is supposed that the people at large can be made to submit.

The so-called taxes or duties, which the government levies upon imports, are a practical violation both of men's natural right of property, and of their natural right to make their own contracts.

In short, it is nothing but downright robbery.

And when a man seeks to avoid this robbery, by evading the government robbers who are lying in wait for him,--that is, the so-called revenue officers,--whom he has as perfect a right to evade, as he has to evade any other robbers, who may be lying in wait for him,--the seizure of his whole property,--instead of the ten, twenty, or fifty per cent. that would otherwise have been taken from him,--is not merely adding so much to the robbery itself, but is adding insult to the robbery. It is punishing a man as a criminal, for simply trying to save his property from robbers.

But it will be said that these taxes or duties are laid to raise revenue for the support of the government.

Be it so, for the sake of the argument. All taxes, levied upon a man's property for the support of government, without his consent, are mere robbery; a violation of his natural right of property. And when a government takes ten, twenty, or fifty per cent. of a man's property, for the reason that he bought it in a foreign country, such taking is as much a violation of his natural right of property, or of his natural right to purchase property, as is the taking of property which he has himself produced, or which he has bought in his own village.

A man's natural right of property, in a commodity he has bought in a foreign country, is intrinsically as sacred and inviolable as it is in a commodity produced at home. The foreign commodity is bought with the commodity produced at home; and therefore stands on the same footing as the commodity produced at home. And it is a plain violation of one's right, for a government to make any distinction between them.

Government assumes to exist for the impartial protection of all rights of property. If it really exists for that purpose, it is plainly bound to make each kind of property pay its proper proportion, and only its proper proportion, of the cost of protecting all kinds. To levy upon a few kinds the cost of protecting all, is a naked robbery of the holders of those few kinds, for the benefit of the holders of all other kinds.

But the pretence that heavy taxes are levied upon imports, solely, or mainly, for the support of government, while light taxes, or no taxes at all, are levied upon property at home, is an utterly false pretence. They are levied upon the imported commodity, mainly, if not solely, for the purpose of enabling the producers of competing home commodities to extort from consumers a higher price than the home commodities would bring in free and open market. And this additional price is sheer robbery, and is known to be so. And the amount of this robbery--which goes into the pockets of the home producers--is five, ten, twenty, or fifty times greater than the amount that goes into the treasury, for the support of the government, according as the amount of the home commodities is five, ten, twenty, or fifty times greater than the amount of the imported competing commodities.

Thus the amounts that go to the support of the government, and also the amounts that go into the pockets of the home producers, in the higher prices they get for their goods, are all sheer robberies; and nothing else.

This is the great argument that is relied on to justify the robbery.

This argument must have originated with the employers of home labor, and not with the home laborers themselves.

Even if any class of laborers would have been so selfish and dishonest as to wish to thus benefit themselves by injuring others, as poor as themselves, they could have had no hope of carrying through such a scheme, if they alone were to profit by it; because they could have had no such influence with governments, as would be necessary to enable them to carry it through, in opposition to the rights and interests of consumers, both rich and poor, and much more numerous than themselves.

For these reasons it is plain that the argument originated with the employers of home labor, and not with the home laborers themselves.

And why do the employers of home labor advocate this robbery? Certainly not because they have such an intense compassion for their own laborers, that they are willing to rob everybody else, rich and poor, for their benefit. Nobody will suspect them of being influenced by any such compassion as that. But they advocate it solely because they put into their own pockets a very large portion certainly--probably three-fourths, I should judge--of the increased prices their commodities are thus made to bring in the market. The home laborers themselves probably get not more than one-fourth of these increased prices.

Thus the argument for "protection" is really an argument for robbing foreign laborers--as poor as our own--of their equal and rightful chances in our markets; and also for robbing all the home consumers of the protected article--the poor as well as the rich--in the prices they are made to pay for it. And all this is done at the instigation, and principally for the benefit, of the employers of home labor, and not for the benefit of home laborers themselves.

Having now seen that this argument--of "protecting our home laborers against the competition of the pauper labor of other countries"--is, of itself, an utterly dishonest argument; that it is dishonest towards foreign laborers and home consumers; that it must have originated with the employers of home labor, and not with the home laborers themselves; and that the employers of home labor, and not the home laborers themselves, are to receive the principal profits of the robbery, let us now see how utterly false is the argument itself.

Every human being has the same natural right to buy and sell, of and to, any and all other people in the world, as he has to buy and sell, of and to, the people of his own country. And none but tyrants and robbers deny that right. And they deny it for their own benefit solely, and not for the benefit of their laborers.

If, when a producer of cotton, tobacco, grain, beef, pork, butter, cheese, or any other commodity, in our own country, has carried it abroad, and exchanged it for iron or woolen goods, and has brought these latter home, the government seizes one-half of them, because they were manufactured abroad, the robbery committed upon the owner is the same as if the government had seized one-half of his cotton, tobacco, or other commodity, before he exported it; because the iron or woolen goods, which he purchased abroad with the products of his own home labor, are as much his own property, as was the commodity with which he purchased them.

Therefore the tax laid upon foreign commodities, that have been bought with the products of our home labor, is as much a robbery of the home laborer, as the same tax would have been, if laid directly upon the products of our home labor. It is, at best, only a robbery of one home laborer--the producer of cotton, tobacco, grain, beef, pork, butter, or cheese--for the benefit of another home laborer--the producer of iron or woolen goods.

These are the only "pauper laborers," from whose competition our own laborers are sought to be protected. They are quite as badly off as our own laborers; and are in equal need of "protection."

This theory, then, is that, instead of permitting all mankind to supply each other's wants, by freely exchanging their respective products with each other, the government of each nation should rob the people of every other, by imposing heavy duties upon all commodities imported from them.

The natural effect of this scheme is to pit the so-called "pauper labor" of each country against the so-called "pauper labor" of every other country; and all for the benefit of their employers. And as it holds that so-called "pauper labor" is cheaper than free labor, it gives the employers in each country a constant motive for reducing their own laborers to the lowest condition of poverty, consistent with their ability to labor at all. In other words, the theory is, that the smaller the portion of the products of labor, that is given to the laborers, the larger will be the portion that will go into the pockets of the employers.

Now, it is not a very honorable proceeding for any government to pit its own so-called "pauper laborers"--or laborers that are on the verge of pauperism--against similar laborers in all other countries: and all for the sake of putting the principal proceeds of their labor into the pockets of a few employers.

To set two bodies of "pauper laborers"--or of laborers on the verge of pauperism--to robbing each other, for the profit of their employers, is the next thing, in point of atrocity, to setting them to killing each other, as governments have heretofore been in the habit of doing, for the benefit of their rulers.

The laborers, who are paupers, or on the verge of pauperism--who are destitute, or on the verge of destitution--comprise doubtless nine-tenths, probably nineteen-twentieths, of all the people on the globe. They are not all wage laborers. Some of them are savages, living only as savages do. Others are barbarians, living only as barbarians do. But an immense number are mere wage laborers. Much the larger portion of these have been reduced to the condition of wage laborers, by the monopoly of land, which mere bands of robbers have succeeded in securing for themselves by military power. This is the condition of nearly all the Asiatics, and of probably one-half the Europeans. But in those portions of Europe and the United States, where manufactures have been most extensively introduced, and where, by science and machinery, great wealth has been created, the laborers have been kept in the condition of wage laborers, principally, if not wholly, by the monopoly of money. This monopoly, established in all these manufacturing countries, has made it impossible for the manufacturing laborers to hire the money capital that was necessary to enable them to do business for themselves; and has consequently compelled them to sell their labor to the monopolists of money, for just such prices as these latter should choose to give.

It is, then, by the monopoly of land, and the monopoly of money, that more than a thousand millions of the earth's inhabitants--as savages, barbarians, and wage laborers--are kept in a state of destitution, or on the verge of destitution. Hundreds of millions of them are receiving, for their labor, not more than three, five, or, at most, ten cents a day.

In western Europe, and in the United States, where, within the last hundred and fifty years, machinery has been introduced, and where alone any considerable wealth is now created, the wage laborers, although they get so small a portion of the wealth they create, are nevertheless in a vastly better condition than are the laboring classes in other parts of the world.

If, now, the employers of wage labor, in this country,--who are also the monopolists of money,--and who are ostensibly so distressed lest their own wage laborers should suffer from the competition of the pauper labor of other countries,--have really any of that humanity, of which they make such profession, they have before them a much wider field for the display of it, than they seem to desire. That is to say, they have it in their power, not only to elevate immensely the condition of the laboring classes in this country, but also to set an example that will be very rapidly followed in all other countries; and the result will be the elevation of all oppressed laborers throughout the world. This they can do, by simply abolishing the monopoly of money. The real producers of wealth, with few or no exceptions, will then be able to hire all the capital they need for their industries, and will do business for themselves. They will also be able to hire their capital at very low rates of interest; and will then put into their own pockets all the proceeds of their labor, except what they pay as interest on their capital. And this amount will be too small to obstruct materially their rise to independence and wealth.

But will the monopolists of money give up their monopoly? Certainly not voluntarily. They will do it only upon compulsion. They will hold on to it as long as they own and control governments as they do now. And why will they do so? Because to give up their monopoly would be to give up their control of those great armies of servants--the wage laborers--from whom all their wealth is derived, and whom they can now coerce by the alternative of starvation, to labor for them at just such prices as they shall choose to pay.

And what is true of this country, is true of every other where civilization exists; for wherever civilization exists, land has value, and can be used as banking capital, and be made to furnish all the money that is necessary to enable the producers of wealth to hire the capital necessary for their industries, and thus relieve them from their present servitude to the few holders of privileged money.

Thus it is that the monopoly of money is the one great obstacle to the liberation of the laboring classes all over the world, and to their indefinite progress in wealth.

The explanation of the whole matter is as follows.

This is, on the face of it, the most plausible argument--and almost, if not really, the only argument--by which they now attempt to sustain their restrictions upon international trade.

If this argument is a false one, their whole case falls to the ground. That it is a false one, will be shown hereafter.

Thus their whole scheme of national industry is made to depend upon "cheap labor." And to secure "cheap labor," they hold it to be indispensable that the laborers shall be kept constantly either in actual pauperism, or on the verge of pauperism. And, in this country, they know of no way of keeping the laborers on the verge of pauperism, but by retaining in their own hands such a monopoly of money as will put it out of the power of the laborers to hire money, and do business for themselves; and thus compel them, by the alternative of starvation, to sell their labor to the monopolists of money at such prices as will enable them to manufacture goods in competition with the so-called pauper laborers of all other countries.

Let it be repeated--as a vital proposition--that the whole industrial programme of these monopolists rests upon, and implies, such a degree of poverty, on the part of the laboring classes, as will put their labor in direct competition with the so-called pauper labor of all other countries. So long as they can perpetuate this extreme poverty of the laboring classes, in this country, they feel safe against all foreign competition; for, in all other things than "cheap labor," we have advantages equal to those of any other nation.

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