Section X.

[3]In the Senate they stood thirty to thirty-six, in the house ninety to one hundred and forty-seven, in the two branches united one hundred and twenty to one hundred and eighty-three, relatively to the non-slaveholding members.From the foundation of the government—without a single interval, I think—the lawmakers from the slaveholding States had been,relatively, as strong, or stronger, than in 1860.

[3]In the Senate they stood thirty to thirty-six, in the house ninety to one hundred and forty-seven, in the two branches united one hundred and twenty to one hundred and eighty-three, relatively to the non-slaveholding members.From the foundation of the government—without a single interval, I think—the lawmakers from the slaveholding States had been,relatively, as strong, or stronger, than in 1860.

[3]In the Senate they stood thirty to thirty-six, in the house ninety to one hundred and forty-seven, in the two branches united one hundred and twenty to one hundred and eighty-three, relatively to the non-slaveholding members.

From the foundation of the government—without a single interval, I think—the lawmakers from the slaveholding States had been,relatively, as strong, or stronger, than in 1860.

This body of lawmakers, standing always firmly together, and capable of turning the scale for, or against, any scheme of robbery, in which northern men were interested, but on which northern men were divided,—such as navigation acts, tariffs, bounties, grants, war, peace, etc.,—could purchase immunity for their own crime, by supporting such, and so many, northern crimes—second only to their own in atrocity—as could be mutually agreed on.

In this way the slaveholders bargained for, and secured, protection for slavery and the slave trade, by consenting to such navigation acts as some of the northern States desired, and to such tariffs on imports—such as iron, coal, wool, woollen goods, etc.,—as should enable the home producers of similar articles to make fortunes by robbing everybody else in the prices of their goods.

Another class of lawmakers have been satisfied with nothing less than such a monopoly of money, as should enable the holders of it to suppress, as far as possible, all industry and traffic, except such as they themselves should control; such a monopoly of money as would put it wholly out of the power of the great body of wealth-producers to hire the capital needed for their industries; and thus compel them—especially the mechanical portions of them—by the alternative of starvation—to sell their labor to the monopolists of money, for just such prices as these latter should choose to pay. This monopoly of money has also given, to the holders of it, a control, so nearly absolute, of all industry—agricultural as well as mechanical—and all traffic, as has enabled them to plunder all the producing classes in the prices of their labor, or the products of their labor.

Have you been blind, all these years, to the existence, or the effects, of this monopoly of money?

Still another class of lawmakers have demanded unequal taxation on the various kinds of home property, that are subject to taxation; such unequal taxation as would throw heavy burdens upon some kinds of property, and very light burdens, or no burdens at all, upon other kinds.

And yet another class of lawmakers have demanded great appropriations, or loans, of money, or grants of lands, to enterprises intended to give great wealth to a few, at the expense of everybody else.

These are some of the schemes of downright and outright robbery, which you mildly describe as "the large variety of diverse and competing interests,subject to federal control, persistently seeking recognition of their claims ... in the halls of national legislation"; and each having its champions and representatives among the lawmakers.

You know that all, or very nearly all, the legislation of congress is devoted to these various schemes of robbery; and that little, or no, legislation goes through, except by means of such bargains as these lawmakers may enter into with each other, for mutual support of their respective robberies. And yet you have the mendacity, or the stupidity, to tell us that so much of this legislation as does go through, may be relied on to "accomplish the greatest good to the greatest number," to "subserve the common interest," and "advance the general welfare."

And when these schemes of robbery become so numerous, atrocious, and unendurable that they can no longer be reconciled "in the halls of national legislation," by "surrendering" some of them, "postponing" others, and "abandoning" others, you assume—for such has been the prevailing opinion, and you say nothing tothe contrary—that it is the right of the strongest party, or parties, to murder a half million of men, if that be necessary,—and as we once did,—not to secure liberty or justice to any body,—but to compel the weaker of these would-be robbers to submit to all such robberies as the stronger ones may choose to practise upon them.

Sir, your idea of the true character of our government is plainly this: you assume that all the natural, inherent, inalienable, individual,humanrights of fifty millions of people—all their individual rights to preserve their own lives, and promote their own happiness—have been thrown into one common heap,—into hotchpotch, as the lawyers say: and that this hotchpotch has been given into the hands of some four hundred champion robbers, each of whom has pledged himself to carry off as large a portion of it as possible, to be divided among those men—well known to himself, but who—to save themselves from all responsibility for his acts—have secretly (by secret ballot) appointed him to be their champion.

Sir, if you had assumed that all the people of this country had thrown all their wealth, all their rights, all their means of living, into hotchpotch; and that this hotchpotch had been given over to four hundred ferocious hounds; and that each of these hounds had been selected and trained to bring to his masters so much of this common plunder as he, in the general fight, or scramble, could get off with, you would scarcely have drawn a more vivid picture of the true character of the government of the United States, than you have done in your inaugural address.

No wonder that you are obliged to confess that such a government can be carried on only "amid the din of party strife"; that it will be influenced—you should have saiddirected—by "purely partisan zeal"; and that it will be attended by "the animosities of political strife, the bitterness of partisan defeat, and the exultation of partisan triumph."

What gang of robbers, quarrelling over the division of their plunder, could exhibit a more shameful picture than you thus acknowledge to be shown by the government of the United States?

Sir, nothing of all this "din," and "strife," and "animosity," and "bitterness," is caused by any attempt, on the part of the government, to simply "do equal and exact justice to all men,"—to simply protect every man impartially in all his natural rights to life, liberty, and property. It is all caused simply and solely by the government's violation of some men's "rights," to promote other men's "interests." If you do not know this, you are mentally an object of pity.

Sir, men's "rights" are always harmonious. That is to say, each man's "rights" are always consistent and harmonious with each and every other man's "rights." But their "interests" as you estimate them, constantly clash; especially such"interests" as depend on government grants of monopolies, privileges, loans, and bounties. And these "interests," like the interests of other gamblers, clash with a fury proportioned to the amounts at stake. It is these clashing "interests" and not any clashing "rights" that give rise to all the strife you have here depicted, and to all this necessity for "that spirit of amity and mutual concession," which you hold to be indispensable to the accomplishment of such legislation as you say is necessary to the welfare of the country.

Each and every man's "rights" being consistent and harmonious with each and every other man's "rights"; and all men's rights being immutably fixed, and easily ascertained, by a science that is open to be learned and known by all; a government that does nothing but "equal and exact justice to all men"—that simply gives to every man his own, and nothing more to any—has no cause and no occasion for any "politicalparties." What are these "political parties" but standing armies of robbers, each trying to rob the other, and to prevent being itself robbed by the other? A government that seeks only to "do equal and exact justice to all men," has no cause and no occasion to enlist all the fighting men in the nation in two hostile ranks; to keep them always in battle array, and burning with hatred towards each other. It has no cause and no occasion for any "politicalwarfare" any "politicalhostility" any "politicalcampaigns" any "politicalcontests" any "politicalfights" any "politicaldefeats" or any "politicaltriumphs." It has no cause and no occasion for any of those "politicalleaders" so called, whose whole business is to invent new schemes of robbery, and organize the people into opposing bands of robbers; all for their own aggrandizement alone. It has no cause and no occasion for the toleration, or the existence, of that vile horde of political bullies, and swindlers, and blackguards, who enlist on one side or the other, and fight for pay; who, year in and year out, employ their lungs and their ink in spreading lies among ignorant people, to excite their hopes of gain, or their fears of loss, and thus obtain their votes. In short, it has no cause and no occasion for all this "din of party strife," for all this "purely partisan zeal," for all "the bitterness of partisan defeat," for all "the exultation of partisan triumph," nor, worst of all, for any of "that spirit of amity and mutual concession [by which you evidently mean that readiness, "in the halls of national legislation," to sacrifice some men's "rights" to promote other men's "interests"] in which [you say] the constitution had its birth."

If the constitution does really, or naturally, give rise to all this "strife," and require all this "spirit of amity and mutual concession,"—and I do not care now to deny that it does,—so much the worse for the constitution. And so much the worse for all those men who, like yourself, swear to "preserve, protect, and defend it."

And yet you have the face to make no end of professions, or pretences, that the impelling power, the real motive, in all this robbery and strife, is nothing elsethan "the service of the people," "their interests," "the promotion of their welfare," "good government," "government by the people," "the popular will," "the general weal," "the achievements of our national destiny," "the benefits which our happy form of government can bestow," "the lasting welfare of the country," "the priceless benefits of the constitution," "the greatest good to the greatest number," "the common interest," "the general welfare," "the people's will," "the mission of the American people," "our civil policy," "the genius of our institutions," "the needs of our people in their home life," "the settlement and development of the resources of our vast territory," "the prosperity of our republic," "the interests and prosperity of all the people," "the safety and confidence of business interests," "making the wage of labor sure and steady," "a due regard to the interests of capital invested and workingmen employed in American industries," "reform in the administration of the government," "the application of business principles to public affairs," "the constant and ever varying wants of an active and enterprising population," "a firm determination to secure to all the people of the land the full benefits of the best form of government ever vouchsafed to man," "the blessings of our national life," etc., etc.

Sir, what is the use of such a deluge of unmeaning words, unless it be to gloss over, and, if possible, hide, the true character of the acts of the government?

Such "generalities" as these do not even "glitter." They are only the stale phrases of the demagogue, who wishes to appear to promise everything, but commits himself to nothing. Or else they are the senseless talk of a mere political parrot, who repeats words he has been taught to utter, without knowing their meaning. At best, they are the mere gibberish of a man destitute of all political ideas, but who imagines that "good government," "the general welfare," "the common interest," "the best form of government ever vouchsafed to man," etc., etc., must be very good things, if anybody can ever find out what they are. There is nothing definite, nothing real, nothing tangible, nothing honest, about them. Yet they constitute your entire stock in trade. In resorting to them—in holding them up to public gaze as comprising your political creed—you assume that they have a meaning; that they are matters of overruling importance; that they require the action of an omnipotent, irresponsible, lawmaking government; that all these "interests" must be represented, and can be secured, only "in the halls of national legislation"; and by such political hounds as have been selected and trained, and sent there, solely that they may bring off, to their respective masters, as much as possible of the public plunder they hold in their hands; that is, as much as possible of the earnings of all the honest wealth-producers of the country.

And when these masters count up the spoils that their hounds have thus brought home to them, they set up a corresponding shout that "the public prosperity," "the common interest," and "the general welfare" have been "advanced." And the scoundrels by whom the work has been accomplished, "in the halls of nationallegislation," are trumpeted to the world as "great statesmen." And you are just stupid enough to be deceived into the belief, or just knave enough to pretend to be deceived into the belief, that all this is really the truth.

One would infer from your address that you think the people of this country incapable of doing anything for themselves,individually; that they would all perish, but for the employment given them by that "large variety of diverse and competing interests"—that is, such purely selfish schemes—as may be "persistently seeking recognition of their claims ... in the halls of national legislation," and secure for themselves such monopolies and advantages as congress may see fit to grant them.

Instead of your recognizing the right of each and every individual to judge of, and provide for, his own well-being, according to the dictates of his own judgment, and by the free exercise of his own powers of body and mind,—so long as he infringes the equal rights of no other person,—you assume that fifty millions of people, who never saw you, and never will see you, who know almost nothing about you, and care very little about you, are all so weak, ignorant, and degraded as to be humbly and beseechingly looking to you—and to a few more lawmakers (so called) whom they never saw, and never will see, and of whom they know almost nothing—to enlighten, direct, and "control" them in their daily labors to supply their own wants, and promote their own happiness!

You thus assume that these fifty millions of people are so debased, mentally and morally, that they look upon you and your associate lawmakers as their earthly gods, holding their destinies in your hands, and anxiously studying their welfare; instead of looking upon you—as most of you certainly ought to be looked upon—as a mere cabal of ignorant, selfish, ambitious, rapacious, and unprincipled men, who know very little, and care to know very little, except how you can get fame, and power, and money, by trampling upon other men's rights, and robbing them of the fruits of their labor.

Assuming yourself to be the greatest of these gods, charged with the "welfare" of fifty millions of people, you enter upon the mighty task with all the mock solemnity, and ridiculous grandiloquence, of a man ignorant enough to imagine that he is really performing a solemn duty, and doing an immense public service, instead of simply making a fool of himself. Thus you say:

Fellow citizens: In the presence of this vast assemblage of my countrymen, I am about to supplement and seal, by the oath which I shall take, the manifestation of the will of a great and free people. In the exercise of their power and right of self-government, they have committed to one of their fellow citizens a supreme and sacred trust, and he here consecrates himself to their service. This impressive ceremony adds little to the solemn sense of responsibility with which I contemplate the duty I owe to all the people of the land. Nothing can relieve me from anxiety lest by any act of mine theirinterests[not theirrights] may suffer, and nothing is needed to strengthen my resolution to engage every faculty and effort in thepromotion of theirwelfare. [Not in "doing equal and exact justice to all men." After having once described the government as one "pledged to do equal and exact justice to all men," you drop that subject entirely, and wander off into "interests," and "welfare," and an astonishing number of other equally unmeaning things.]

Fellow citizens: In the presence of this vast assemblage of my countrymen, I am about to supplement and seal, by the oath which I shall take, the manifestation of the will of a great and free people. In the exercise of their power and right of self-government, they have committed to one of their fellow citizens a supreme and sacred trust, and he here consecrates himself to their service. This impressive ceremony adds little to the solemn sense of responsibility with which I contemplate the duty I owe to all the people of the land. Nothing can relieve me from anxiety lest by any act of mine theirinterests[not theirrights] may suffer, and nothing is needed to strengthen my resolution to engage every faculty and effort in thepromotion of theirwelfare. [Not in "doing equal and exact justice to all men." After having once described the government as one "pledged to do equal and exact justice to all men," you drop that subject entirely, and wander off into "interests," and "welfare," and an astonishing number of other equally unmeaning things.]

Sir, you would have no occasion to take all this tremendous labor and responsibility upon yourself, if you and your lawmakers would but keep your hands off the "rights" of your "countrymen." Your "countrymen" would be perfectly competent to take care of their own "interests," and provide for their own "welfare," if their hands were not tied, and their powers crippled, by such fetters as men like you and your lawmakers have fastened upon them.

Do you know so little of your "countrymen," that you need to be told that their own strength and skill must be their sole reliance for their own well-being? Or that they are abundantly able, and willing, and anxious above all other things, to supply their own "needs in their home life," and secure their own "welfare"? Or that they would do it, not only without jar or friction, but as their highest duty and pleasure, if their powers were not manacled by the absurd and villainous laws you propose to execute upon them? Are you so stupid as to imagine that putting chains on men's hands, and fetters on their feet, and insurmountable obstacles in their paths, is the way to supply their "needs," and promote their "welfare"? Do you think your "countrymen" need to be told, either by yourself, or by any such gang of ignorant or unprincipled men as all lawmakers are, what to do, and what not to do, to supply their own "needs in their home life"? Do they not know how to grow their own food, make their own clothing, build their own houses, print their own books, acquire all the knowledge, and create all the wealth, they desire, without being domineered over, and thwarted in all their efforts, by any set of either fools or villains, who may call themselves their lawmakers? And do you think they will never get their eyes open to see what blockheads, or impostors, you and your lawmakers are? Do they not now—at least so far as you will permit them to do it—grow their own food, build their own houses, make their own clothing, print their own books? Do they not make all the scientific discoveries and mechanical inventions, by which all wealth is created?Or are all these things done by "the government"?Are you an idiot, that you can talk as you do, about what you and your lawmakers are doing to provide for the real wants, and promote the real "welfare," of fifty millions of people?

But perhaps the most brilliant idea in your whole address, is this:

Every citizen owes the country a vigilant watch and close scrutiny of its public servants,and a fair and reasonable estimate of their fidelity and usefulness. Thus is the people's willimpressed upon the whole framework of our civil policy, municipal, State, and federal;and this is the price of our liberty, and the inspiration of our faith in the republic.

Every citizen owes the country a vigilant watch and close scrutiny of its public servants,and a fair and reasonable estimate of their fidelity and usefulness. Thus is the people's willimpressed upon the whole framework of our civil policy, municipal, State, and federal;and this is the price of our liberty, and the inspiration of our faith in the republic.

The essential parts of this declaration are these:

"Every citizen owes the country a vigilant watch and close scrutiny of its public servants, ... and this is the price of our liberty."

Who are these "public servants," that need all this watching? Evidently they are the lawmakers, and the lawmakers only. They are not only thechief"public servants," but they are absolute masters of all the other "public servants." These other "public servants," judicial and executive,—the courts, the army, the navy, the collectors of taxes, etc., etc.,—have no function whatever, except that of simple obedience to the lawmakers. They are appointed, paid, and have their duties prescribed to them, by the lawmakers; and are made responsible only to the lawmakers. They are mere puppets in the hands of the lawmakers. Clearly, then, the lawmakers are the only ones we have any occasion to watch.

Your declaration, therefore, amounts, practically, to this, and this only:

Every citizen owes the country a vigilant watch and close scrutiny of ITS LAWMAKERS, ... and this is the price of our liberty.

Sir, your declaration is so far true, as that all the danger to "our liberty"comes solely from the lawmakers.

And why are the lawmakers dangerous to "our liberty"? Because it is a natural impossibility that they canmakeany law—that is, any law of their own invention—that doesnotviolate "our liberty."

The law of justice is the one only law that does not violate "our liberty."And that is not a law that was made by the lawmakers. It existed before they were born, and will exist after they are dead. It derives not one particle of its authority from any commands of theirs. It is, therefore, in no sense, one oftheirlaws. Only laws of their own invention aretheirlaws. And as it is naturally impossible that they can invent any law of their own, that shall not conflict with the law of justice, it is naturally impossible that they canmakea law—that is, a law of their own invention—that shallnotviolate "our liberty."

The law of justice is the precise measure, and the only precise measure, of the rightful "liberty" of each and every human being. Any law—made by lawmakers—that should give to any man more liberty than is given him by the law of justice, would be a license to commit an injustice upon one or more other persons. On the other hand, any law—made by lawmakers—that should take from any human being any "liberty" that is given him by the law of justice, would be taking from him a part of his own rightful "liberty."

Inasmuch, then, as every possible law, that can be made by lawmakers, must either give to some one or more persons more "liberty" than the law of nature—or the law of justice—gives them, and more "liberty" than is consistent with the natural and equal "liberty" of all other persons; or else must take from some oneor more persons some portion of that "liberty" which the law of nature—or the law of justice—gives to every human being, it is inevitable that every law, that can be made by lawmakers, must be a violation of the natural and rightful "liberty" of some one or more persons.

Therefore the very idea of alawmakinggovernment—a government that is to make laws of its own invention—is necessarily in direct and inevitable conflict with "our liberty." In fact, the whole, sole, and only real purpose of anylawmakinggovernment whatever is to take from some one or more persons their "liberty." Consequently the only way in which all men can preserve their "liberty," is not to have anylawmakinggovernment at all.

We have been told, time out of mind, that "Eternal vigilance is the price of liberty." But this admonition, by reason of its indefiniteness, has heretofore fallen dead upon the popular mind. It, in reality, tells us nothing that we need to know, to enable us to preserve "our liberty." It does not even tell us what "our liberty" is, or how, or when, or through whom, it is endangered, or destroyed.

1. It does not tell us thatindividualliberty is the onlyhumanliberty. It does not tell us that "national liberty," "political liberty," "republican liberty," "democratic liberty," "constitutional liberty," "liberty under law," and all the other kinds of liberty that men have ever invented, and with which tyrants, as well as demagogues, have amused and cheated the ignorant, are not liberty at all, unless in so far as they may, under certain circumstances, have chanced to contribute something to, or given some impulse toward,individualliberty.

2. It does not tell us thatindividualliberty means freedom from all compulsion to do anything whatever, except what justice requires us to do, and freedom to do everything whatever that justice permits us to do. It does not tell us that individual liberty means freedom from all human restraint or coercion whatsoever, so long as we "live honestly, hurt nobody, and give to every one his due."

3. It does not tell us that there is anyscience of liberty; any science, which every man may learn, and by which every man may know, what is, and what is not, his own, and every other man's, rightful "liberty."

4. It does not tell us that this right of individual liberty rests upon an immutable, natural principle, which no human power can make, unmake, or alter; nor that all human authority, that claims to set it aside, or modify it, is nothing but falsehood, absurdity, usurpation, tyranny, and crime.

5. It does not tell us that this right of individual liberty is anatural, inherent, inalienable right; that therefore no man can part with it, or delegate it to another, if he would; and that, consequently, all the claims that have ever been made, by governments, priests, or any other powers, that individuals have voluntarily surrendered, or "delegated," their liberty to others, are all impostures and frauds.

6. It does not tell us that all human laws, so called, and all human lawmaking,—all commands, either by one man, or any number of men, calling themselves agovernment, or by any other name—requiring any individual to do this, or forbidding him to do that—so long as he "lives honestly, hurts no one, and gives to every one his due"—are all false and tyrannical assumptions of a right of authority and dominion over him; are all violations of his natural, inherent, inalienable, rightful, individual liberty; and, as such, are to be resented and resisted to the utmost, by every one who does not choose to be a slave.

7. And, finally, it does not tell us that alllawmakinggovernments whatsoever—whether called monarchies, aristocracies, republics, democracies, or by any other name—are all alike violations of men's natural and rightful liberty.

We can now see why lawmakers are the only enemies, from whom "our liberty" has anything to fear, or whom we have any occasion to watch. They are to be watched, because they claim the right to abolish justice, and establish injustice in its stead; because they claim the right to command us to do things which justice does not require us to do, and to forbid us to do things which justice permits us to do; because they deny our right to be,individually, and absolutely, our own masters and owners, so long as we obey the one law of justice towards all other persons; because they claim to be our masters, and thattheircommands,as such, are authoritative and binding upon us as law; and that they may rightfully compel us to obey them.

"Our liberty" is in danger only from the lawmakers, because it is only through the agency of lawmakers, that anybody pretends to be able to take away "our liberty." It is only the lawmakers that claim to be above all responsibility for taking away "our liberty." Lawmakers are the only ones who are impudent enough to assert for themselves the right to take away "our liberty." They are the only ones who are impudent enough to tell us that we have voluntarily surrendered "our liberty" into their hands. They are the only ones who have the insolent condescension to tell us that, in consideration of our having surrendered into their hands "our liberty," and all our natural, inherent, inalienable rights as human beings, they are disposed to give us, in return, "good government," "the best form of government ever vouchsafed to man"; to "protect" us, to provide for our "welfare," to promote our "interests," etc., etc.

And yet you are just blockhead enough to tell us that if "Every citizen"—fifty millions and more of them—will but keep "a vigilant watch and close scrutiny" upon these lawmakers, "our liberty" may be preserved!

Don't you think, sir, that you are really the wisest man that ever told "a great and free people" how they could preserve "their liberty"?

To be entirely candid, don't you think, sir, that a surer way of preserving "our liberty" would be to have no lawmakers at all?

But, in spite of all I have said, or, perhaps, can say, you will probably persist in your idea that the world needs a great deal of lawmaking; that mankind in general are not entitled to have any will, choice, judgment, or conscience of their own; that, if not very wicked, they are at least very ignorant and stupid; that they know very little of what is for their own good, or how to promote their own "interests," "welfare," or "prosperity"; that it is therefore necessary that they should be put under guardianship to lawmakers; that these lawmakers, being a very superior race of beings,—wise beyond the rest of their species,—and entirely free from all those selfish passions which tempt common mortals to do wrong,—must be intrusted with absolute and irresponsible dominion over the less favored of their kind; must prescribe to the latter, authoritatively, what they may, and may not, do; and, in general, manage the affairs of this world according to their discretion, free of all accountability to any human tribunals.

And you seem to be perfectly confident that, under this absolute and irresponsible dominion of the lawmakers, the affairs of this world will be rightly managed; that the "interests," "welfare," and "prosperity" of "a great and free people" will be properly attended to; that "the greatest good of the greatest number" will be accomplished, etc., etc.

And yet you hold that all this lawmaking, and all this subjection of the great body of the people to the arbitrary, irresponsible dominion of the lawmakers, will not interfere at all with "our liberty," if only "every citizen" will but keep "a vigilant watch and close scrutiny" of the lawmakers.

Well, perhaps this is all so; although this subjection to the arbitrary will of any man, or body of men, whatever, and under any pretence whatever, seems, on the face of it, to be much more like slavery, than it does like "liberty".

If, therefore, you really intend to continue this system of lawmaking, it seems indispensable that you should explain to us what you mean by the term "our liberty."

So far as your address gives us any light on the subject, you evidently mean, by the term "our liberty," just such, and only such, "liberty," as the lawmakers may see fit to allow us to have.

You seem to have no conception of any other "liberty" whatever.

You give us no idea of any other "liberty" that we can secure to ourselves, even though "every citizen"—fifty millions and more of them—shall all keep "a vigilant watch and close scrutiny" upon the lawmakers.

Now, inasmuch as the human race always have had all the "liberty" their lawmakers have seen fit to permit them to have; and inasmuch as, under your system of lawmaking, they always will have as much "liberty" as their lawmakers shall see fit to give them; and inasmuch as you apparently concede the right, which thelawmakers have always claimed, of killing all those who are not content with so much "liberty" as their lawmakers have seen fit to allow them,—it seems very plain that you have not added anything to our stock of knowledge on the subject of "our liberty."

Leaving us thus, as you do, in as great darkness as we ever were, on this all-important subject of "our liberty," I think you ought to submit patiently to a little questioning on the part of those of us, who feel that all this lawmaking—each and every separate particle of it—is a violation of "our liberty."

Will you, therefore, please tell us whether any, and, if any, how much, of thatnaturalliberty—of that natural, inherent, inalienable,individualright to liberty—with which it has generally been supposed that God, or Nature, has endowed every human being, will be left to us, if the lawmakers are to continue, as you would have them do, the exercise of their arbitrary, irresponsible dominion over us?

Are you prepared to answer that question?

No. You appear to have never given a thought to any such question as that.

I will therefore answer it for you.

And my answer is, that from the moment it is conceded that any man, or body of men, whatever, under any pretence whatever, have the right tomake laws of their own invention, and compel other men to obey them, every vestige of man'snaturaland rightful liberty is denied him.

That this is so is proved by the fact thatalla man'snaturalrights stand upon one and the same basis,viz., that they are the gift of God, or Nature, to him,as an individual, for his own uses, and for his own happiness. If any one of these natural rights may be arbitrarily taken from him by other men,allof them may be taken from him on the same reason. No one of these rights is any more sacred or inviolable in its nature, than are all the others. The denial of any one of these rights is therefore equivalent to a denial of all the others. The violation of any one of these rights, by lawmakers, is equivalent to the assertion of a right to violate all of them.

Plainly, unlessalla man's natural rights are inviolable by lawmakers,noneof them are. It is an absurdity to say that a man has any rightsof his own, if other men, whether calling themselves a government, or by any other name, have the right to take them from him, without his consent. Therefore the very idea of a lawmaking government necessarily implies a denial of all such things as individual liberty, or individual rights.

From this statement it does not follow that every lawmaking government will, in practice, take from every manallhis natural rights. It will do as it pleases about it. It will take some, leaving him to enjoy others, just as its own pleasure or discretion shall dictate at the time. It would defeat its own ends, if it were wantonly to take awayallhis natural rights,—as, for example, his right to live, and to breathe,—for then he would be dead, and the government could then getnothing more out of him. The most tyrannical government will, therefore, if it have any sense, leave its victims enough liberty to enable them to provide for their own subsistence, to pay their taxes, and to render such military or other service as the government may have need of.But it will do this for its own good, and not for theirs.In allowing them this liberty, it does not at all recognize their right to it, but only consults its own interests.

Now, sir, this is the real character of the government of the United States, as it is of all otherlawmakinggovernments. There is not a single human right, which the government of the United States recognises as inviolable. It tramples upon any and every individual right, whenever its own will, pleasure, or discretion shall so dictate. It takes men's property, liberty, and lives whenever it can serve its own purposes by doing so.

All these things prove that the government does not exist at all for the protection of men'srights; but that it absolutely denies to the people any rights, or any liberty, whatever, except such as it shall see fit to permit them to have for the time being. It virtually declares that it does not itself exist at all for the good of the people, but that the people exist solely for the use of the government.

All these things prove that the government is not one voluntarily established and sustained by the people, for the protection of their natural, inherent, individual rights, but that it is merely a government of usurpers, robbers, and tyrants, who claim to own the people as their slaves, and claim the right to dispose of them, and their property, at their (the usurpers') pleasure or discretion.

Now, sir, since you may be disposed to deny that such is the real character of the government, I propose to prove it, by evidences so numerous and conclusive that you cannot dispute them.

My proposition, then, is, that there is not a singlenatural, human right, that the government of the United States recognizes as inviolable; that there is not a singlenatural, human right, that it hesitates to trample under foot, whenever it thinks it can promote its own interests by doing so.

The proofs of this proposition are so numerous, that only a few of the most important can here be enumerated.

1. The government does not even recognize a man's natural right to his own life. If it have need of him, for the maintenance of its power, it takes him, against his will (conscripts him), and puts him before the cannon's mouth, to be blown in pieces, as if he were a mere senseless thing, having no morerightsthan if he were a shell, a canister, or a torpedo. It considers him simply as so much senseless war material, to be consumed, expended, and destroyed for the maintenance of its power. It no more recognizes his right to have anything to say in the matter, than if he were but so much weight of powder or ball. It does not recognize him at all as a human being, having any rights whatever of his own, but only as an instrument, a weapon, or a machine, to be used in killing other men.

2. The government not only denies a man's right, as a moral human being, to have any will, any judgment, or any conscience of his own, as to whether he himself will be killed in battle, but it equally denies his right to have any will, any judgment, or any conscience of his own, as a moral human being, as to whether he shall be used as a mere weapon for killing other men. If he refuses to kill any, or all, other men, whom it commands him to kill, it takes his own life, as unceremoniously as if he were but a dog.

Is it possible to conceive of a more complete denial of all a man'snatural,humanrights, than is the denial of his right to have any will, judgment, or conscience of his own, either as to his being killed himself, or as to his being used as a mere weapon for killing other men?

3. But in still another way, than by its conscriptions, the government denies a man's right to any will, choice, judgment, or conscience of his own, in regard either to being killed himself, or used as a weapon in its hands for killing other people.

If, in private life, a man enters into a perfectly voluntary agreement to work for another, at some innocent and useful labor, for a day, a week, a month, or a year, he cannot lawfully be compelled to fulfil that contract; because such compulsion would be an acknowledgment of his right to sell his own liberty. And this is what no one can do.

This right of personal liberty is inalienable. No man can sell it, or transfer it to another; or give to another any right of arbitrary dominion over him. All contracts for such a purpose are absurd and void contracts, that no man can rightfully be compelled to fulfil.

But when a deluded or ignorant young man has once been enticed into a contract to kill others, and to take his chances of being killed himself, in the service of the government, for any given number of years, the government holds that such a contract to sell his liberty, his judgment, his conscience, and his life, is a valid and binding contract; and that if he fails to fulfil it, he may rightfully be shot.

All these things prove that the government recognizes no right of the individual, to his own life, or liberty, or to the exercise of his own will, judgment, or conscience, in regard to his killing his fellow-men, or to being killed himself, if the government sees fit to use him as mere war material, in maintaining its arbitrary dominion over other human beings.

4. The government recognizes no such thing as anynaturalright of property, on the part of individuals.

This is proved by the fact that it takes, for its own uses, any and every man's property—when it pleases, and as much of it as it pleases—without obtaining, or even asking, his consent.

This taking of a man's property, without his consent, is a denial of his right of property; for the right of property is the right of supreme, absolute, and irresponsible dominion over anything that is naturally a subject of property,—that is, ofownership.It is a right against all the world.And this right of property—this right of supreme, absolute, and irresponsible dominion over anything that is naturally a subject of ownership—is subject only to this qualification,viz., that each man must so use his own, as not to injure another.

If A uses his own property so as to injure the person or property of B, his own property may rightfully be taken to any extent that is necessary to make reparation for the wrong he has done.

This is the only qualification to which thenaturalright of property is subject.

When, therefore, a government takes a man's property, for its own support, or for its own uses, without his consent, it practically denies his right of property altogether; for it practically asserts thatitsright of dominion is superior to his.

No man can be said to have any right of property at all, in any thing—that is, any right of supreme, absolute, and irresponsible dominion over any thing—of which any other men may rightfully deprive him at their pleasure.

Now, the government of the United States, in asserting its right to take at pleasure the property of individuals, without their consent, virtually denies their right of property altogether, because it asserts thatitsright of dominion over it, is superior to theirs.

5. The government denies thenaturalright of human beings to live on this planet. This it does by denying theirnaturalright to those things that are indispensable to the maintenance of life. It says that, for every thing necessary to the maintenance of life, they must have a special permit from the government; and that the government cannot be required to grant them any other means of living than it chooses to grant them.

All this is shown as follows,viz.:

The government denies thenaturalright of individuals to take possession of wilderness land, and hold and cultivate it for their own subsistence.

It asserts that wilderness land is the property of the government; and that individuals have no right to take possession of, or cultivate, it, unless by special grant of the government. And if an individual attempts to exercise this natural right, the government punishes him as a trespasser and a criminal.

The government has no more right to claim the ownership of wilderness lands, than it has to claim the ownership of the sunshine, the water, or the atmosphere. And it has no more right to punish a man for taking possession of wilderness land, and cultivating it, without the consent of the government, than it has to punish him for breathing the air, drinking the water, or enjoying the sunshine, without a special grant from the government.

In thus asserting the government's right of property in wilderness land, and in denying men's right to take possession of and cultivate it, except on first obtaining a grant from the government,—which grant the government may withhold if it pleases,—the government plainly denies thenaturalright of men to live on thisplanet, by denying theirnaturalright to the means that are indispensable to their procuring the food that is necessary for supporting life.

In asserting its right of arbitrary dominion over that natural wealth that is indispensable to the support of human life, it asserts its right to withhold that wealth from those whose lives are dependent upon it. In this way it denies thenaturalright of human beings to live on the planet. It asserts that government owns the planet, and that men have no right to live on it, except by first getting a permit from the government.

This denial of men'snaturalright to take possession of and cultivate wilderness land is not altered at all by the fact that the government consents to sell as much land as it thinks it expedient or profitable to sell; nor by the fact that, in certain cases, it gives outright certain lands to certain persons. Notwithstanding these sales and gifts, the fact remains that the government claims the original ownership of the lands; and thus denies thenaturalright of individuals to take possession of and cultivate them. In denying thisnaturalright of individuals, it denies theirnaturalright to live on the earth; and asserts that they have no other right to life than the government, by its own mere will, pleasure, and discretion, may see fit to grant them.

In thus denying man'snaturalright to life, it of course denies every othernaturalright of human beings; and asserts that they have nonaturalright to anything; but that, for all other things, as well as for life itself, they must depend wholly upon the good pleasure and discretion of the government.

In still another way, the government denies men'snaturalright to life. And that is by denying theirnaturalright to make any of those contracts with each other, for buying and selling, borrowing and lending, giving and receiving, property, which are necessary, if men are to exist in any considerable numbers on the earth.

Even the few savages, who contrive to live, mostly or wholly, by hunting, fishing, and gathering wild fruits, without cultivating the earth, and almost wholly without the use of tools or machinery, are yet,at times, necessitated to buy and sell, borrow and lend, give and receive, articles of food, if no others, as their only means of preserving their lives. But, in civilized life, where but a small portion of men's labor is necessary for the production of food, and they employ themselves in an almost infinite variety of industries, and in the production of an almost infinite variety of commodities, it would be impossible for them to live, if they were wholly prohibited from buying and selling, borrowing and lending, giving and receiving, the products of each other's labor.

Yet the government of the United States—either acting separately, or jointlywith the State governments—has heretofore constantly denied, and still constantly denies, thenaturalright of the people,as individuals, to make their own contracts, for such buying and selling, borrowing and lending, and giving and receiving, such commodities as they produce for each other's uses.

I repeat that both the national and State governments have constantly denied thenaturalright of individuals to make their own contracts. They have done this, sometimes by arbitrarily forbidding them to make particular contracts, and sometimes by arbitrarily qualifying the obligation of particular contracts, when the contracts themselves were naturally and intrinsically as just and lawful as any others that men ever enter into; and were, consequently, such as men have as perfect anaturalright to make, as they have to make any of those contracts which they are permitted to make.

The laws arbitrarily prohibiting, or arbitrarily qualifying, certain contracts, that are naturally and intrinsically just and lawful, are so numerous, and so well known, that they need not all be enumerated here. But any and all such prohibitions, or qualifications, are a denial of men'snaturalright to make their own contracts. They are a denial of men's right to make any contracts whatever, except such as the governments shall see fit to permit them to make.

It is thenaturalright of any and all human beings, who are mentally competent to make reasonable contracts, to make any and every possible contract, that is naturally and intrinsically just and honest, for buying and selling, borrowing and lending, giving and receiving, any and all possible commodities, that are naturally vendible, loanable, and transferable, and that any two or more individuals may, at any time, without force or fraud, choose to buy and sell, borrow and lend, give and receive, of and to each other.

And it is plainly only by the untrammelled exercise of thisnaturalright, that all the loanable capital, that is required by men's industries, can be lent and borrowed, or that all the money can be supplied for the purchase and sale of that almost infinite diversity and amount of commodities, that men are capable of producing, and that are to be transferred from the hands of the producers to those of the consumers.

But the government of the United States—and also the governments of the States—utterly deny thenaturalright of any individuals whatever to make any contracts whatever, for buying and selling, borrowing and lending, giving and receiving, any and all such commodities, as are naturally vendible, loanable, and transferable, and as the producers and consumers of such commodities may wish to buy and sell, borrow and lend, give and receive, of and to each other.

These governments (State and national) deny thisnaturalright of buying and selling, etc., by arbitrarily prohibiting, or qualifying, all such, and so many, of these contracts, as they choose to prohibit, or qualify.

The prohibition, or qualification, ofany oneof these contracts—that are intrinsicallyjust and lawful—is a denial of all individualnaturalright to make any of them. For the right to make any and all of them stands on the same grounds ofnaturallaw, natural justice, and men's natural rights. If a government has the right to prohibit, or qualify, any one of these contracts, it has the same right to prohibit, or qualify, all of them. Therefore the assertion, by the government, of a right to prohibit, or qualify, any one of them, is equivalent to a denial of allnaturalright, on the part of individuals, to make any of them.

The power that has been thus usurped by governments, to arbitrarily prohibit or qualify all contracts that are naturally and intrinsically just and lawful, has been the great, perhaps the greatest, of all the instrumentalities, by which, in this, as in other countries, nearly all the wealth, accumulated by the labor of the many, has been, and is now, transferred into the pockets of the few.

It is by this arbitrary power over contracts, that the monopoly of money is sustained.Few people have any real perception of the power, which this monopoly gives to the holders of it, over the industry and traffic of all other persons. And the one only purpose of the monopoly is to enable the holders of it to rob everybody else in the prices of their labor, and the products of their labor.

The theory, on which the advocates of this monopoly attempt to justify it, is simply this:That it is not at all necessary that money should be a bona fide equivalent of the labor or property that is to be bought with it;that if the government will but specially license a small amount of money, and prohibit all other money, the holders of the licensed money will then be able to buy with it the labor and property of all other persons for a half, a tenth, a hundredth, a thousandth, or a millionth, of what such labor and property are really and truly worth.

David A. Wells, one of the most prominent—perhaps at this time, the most prominent—advocate of the monopoly, in this country, states the theory thus:

A three-cent piece, if it could be divided into a sufficient number of pieces, with each piece capable of being handled, would undoubtedly suffice for doing all the business of the country in the way of facilitating exchanges, if no other better instrumentality was available.—New York Herald, February 13, 1875.

A three-cent piece, if it could be divided into a sufficient number of pieces, with each piece capable of being handled, would undoubtedly suffice for doing all the business of the country in the way of facilitating exchanges, if no other better instrumentality was available.—New York Herald, February 13, 1875.

He means here to say, that "a three-cent piece" containsas much real, true, and natural market value, as it would be necessary that all the money of the country should have,if the government would but prohibit all other money; that is, if the government, by its arbitrary legislative power, would but make all other and better money unavailable.

And this is the theory, on which John Locke, David Hume, Adam Smith, David Ricardo, J. R. McCulloch, and John Stuart Mill, in England, and Amasa Walker, Charles H. Carroll, Hugh McCulloch, in this country, and all the other conspicuous advocates of the monopoly, both in this country and in England, have attempted to justify it. They have all held that it was not necessary that money should beabona fideequivalent of the labor or property to be bought with it; but that, by the prohibition of all other money, the holders of a comparatively worthless amount of licensed money would be enabled to buy, at their own prices, the labor and property of all other men.

And this is the theory on which the governments of England and the United States have always, with immaterial exceptions, acted, in prohibiting all but such small amounts of money as they (the governments) should specially license.And it is the theory upon which they act now.And it is so manifestly a theory of pure robbery, that scarce a word can be necessary to make it more evidently so than it now is.

But inasmuch as your mind seems to be filled with the wildest visions of the excellency of this government, and to be strangely ignorant of its wrongs; and inasmuch as this monopoly of money is, in its practical operation, one of the greatest—possibly the greatest—of all these wrongs, and the one that is most relied upon for robbing the great body of the people, and keeping them in poverty and servitude, it is plainly important that you should have your eyes opened on the subject. I therefore submit, for your consideration, the following self-evident propositions:

1. That to make all traffic just and equal, it is indispensable that, in each separate purchase and sale, the money paid should be abona fideequivalent of the labor or property bought with it.

Dare you, or any other man, of common sense and common honesty, dispute the truth of that proposition? If not, let us consider that principle established. It will then serve as one of the necessary and infallible guides to the true settlement of all the other questions that remain to be settled.

2. That so long as no force or fraud is practised by either party, the parties themselves, to each separate contract, have the sole, absolute, and unqualified right to decide for themselves,what money, and how much of it, shall be considered abona fideequivalent of the labor or property that is to be exchanged for it. All this is necessarily implied in thenaturalright of men to make their own contracts, for buying and selling their respective commodities.

Will you dispute the truth of that proposition?

3. That any one man, who has an honest dollar, of any kind whatsoever, has as perfect a right, as any other man can have, to offer it in the market, in competition with any and all other dollars, in exchange for such labor or property as may be in the market for sale.

Will you dispute the truth of that proposition?

4. That where no fraud is practised, every person, who is mentally competent to make reasonable contracts, must be presumed to be as competent to judge of the value of the money that is offered in the market, as he is to judge of the value of all the other commodities that are bought and sold for money.

Will you dispute the truth of that proposition?

5. That the free and open market, in which all honest money and all honest commodities are free to be given and received in exchange for each other, is the true, final, absolute, and only test of the true and natural market value of all money, as of all the other commodities that are bought and sold for money.

Will you dispute the truth of that proposition?

6. That any prohibition, by a government, of any such kind or amount of money—provided it be honest in itself—as the parties to contracts may voluntarily agree to give and receive in exchange for labor or property, is a palpable violation of their natural right to make their own contracts, and to buy and sell their labor and property on such terms as they may find to be necessary for the supply of their wants, or may think most beneficial to their interests.

Will you dispute the truth of that proposition?

7. That any government, that licenses a small amount of an article of such universal necessity as money, and that gives the control of it into a few hands, selected by itself, and then prohibits any and all other money—that is intrinsically honest and valuable—palpably violates all other men's natural right to make their own contracts, and infallibly proves its purpose to be to enable the few holders of the licensed money to rob all other persons in the prices of their labor and property.

Will you dispute the truth of that proposition?

Are not all these propositions so self-evident, or so easily demonstrated, that they cannot, with any reason, be disputed?

If you feel competent to show the falsehood of any one of them, I hope you will attempt the task.

If, now, you wish to form some rational opinion of the extent of the robbery practised in this country, by the holders of this monopoly of money, you have only to look at the following facts.

There are, in this country, I think, at least twenty-five millions of persons, male and female, sixteen years old, and upwards, mentally and physically capable of running machinery, producing wealth, and supplying their own needs for an independent and comfortable subsistence.

To make their industry most effective, and to enable them,individually, to put into their own pockets as large a portion as possible of their own earnings, they need,on an average, one thousand dollars each ofmoney capital. Some need one, two, three, or five hundred dollars, others one, two, three, or five thousand. These persons, then, need,in the aggregate, twenty-five thousand millions of dollars ($25,000,000,000), of money capital.

They need all thismoney capitalto enable them to buy the raw materials upon which to bestow their labor, the implements and machinery with which to labor, and their means of subsistence while producing their goods for the market.

Unless they can get this capital, they must all either work at a disadvantage, or not work at all. A very large portion of them, to save themselves from starvation, have no alternative but to sell their labor to others, at just such prices these others choose to pay. And these others choose to pay only such prices as are far below what the laborers could produce, if they themselves had the necessary capital to work with.

But this needed capital your lawmakers arbitrarily forbid them to have; and for no other reason than to reduce them to the condition of servants; and subject them to all such extortions as their employers—the holders of the privileged money—may choose to practise upon them.

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:

Theoretically, there are, in this country, fifty thousand millions of dollars of money capital ($50,000,000,000)—or twice as much as I have supposed these laborers to need—NOW LYING IDLE!And it is lying idle, solely because the circulation of it, as money, is prohibited by the lawmakers.

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

Theoretically,every dollar's worth of material property, that is capable of being taken by law, and applied to the payment of the owner's debts, is capable of being represented by a promissory note, that shall circulate as money.

But taking all this material property atonly halfits actual value, it is still capable of supplying the twenty-five thousand millions of dollars—or one thousand dollars each—which these laborers need.

Now, we know—because experience has taught us—thatsolventpromissory notes, made payable in coin on demand, are the best money that mankind have ever had; (although probably not the best they ever will have).

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.

Theoretically,I repeat, all the material property in the country, that can be taken by law, and applied to the payment of debt can be used as banking capital; and be represented by promissory notes, made payable in coin on demand. And,practically, so much of it can be used as banking capital as may be required for supplying all the notes that can be kept in circulation as money.

Although these notes are made legally payable in coin on demand, it is seldom that such payment is demanded,if only it be publicly known that the notes are solvent:that is, if it be publicly known that they are issued by persons who have so much material property, that can be taken by law, and sold, as may be necessary to bring the coin that is needed to pay the notes. In such cases, the notes are preferred to the coin, because they are so much more safe and convenient for handling, counting, and transportation, than is the coin; and also because we can have so many times more of them.

These notes are also a legal tender, to the banks that issue them, in payment of the notes discounted; that is, in payment of the notes given by the borrowers to the banks. And, in the ordinary course of things,allthe notes, issued by the banks for circulation, are wanted, and come back to the banks, in payment of the notes discounted; thus saving all necessity for redeeming them with coin, except in rare cases. For meeting these rare cases, the banks find it necessary to keep on hand small amounts of coin; probably not more than one per cent. of the amount of notes in circulation.

As the notes discounted have usually but a short time to run,—say three months on an average,—the bank notes issued for circulation willallcome back,on an average, once in three months, and be redeemed by the bankers, by being accepted in payment of the notes discounted.

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.

There is no danger that any more of these notes will be issued than will be wanted for buying and selling property at its true and natural market value, relatively to coin; for as the notes are all made legally payable in coin on demand, if they should ever fall below the value of coin in the market, the holders of them will at once return them to the banks, and demand coin for them;and thus take them out of circulation.

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 theycome 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.

The credit furnished by this system would always be stable; for the system is probably capable of furnishing,at all times, all the credit, and all the money, that can be needed. It would also introduce a substantially universal system of cash payments. Everybody, who could get credit at all, would be able to get it at a bank,in money. With the money, he would buy everything he needed for cash. He would also sell everything for cash; for when everybody buys for cash, everybody sells for cash; since buying for cash, and selling for cash, are necessarily one and the same thing.

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.

And our governments, State and national, have hitherto acted together in maintaining this monopoly, in flagrant violation of men's natural right to make their own contracts, and in flagrant violation of the self-evident truth, that, to make all traffic just and equal, it is indispensable that the money paid should be, in all cases, abona fideequivalent of the labor or property that is bought with it.

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.


Back to IndexNext