Nor are the other means to which the government resorts to support itself entitled to very much more consideration than that of the indirect one just mentioned. There is no equality to the general people in any of them; and it is quite evident that the whole system of revenue for the support of the government should be remodeled, so as to fall where it should, in justice, upon the taxable property of the whole Union. This done, and a sound financial system also inaugurated, the lower classes of society would begin to be leveled up to the medium, and the upper classes to be leveled down to the same basis of material prosperity.
A system of taxation for the support of all government—town, city, county, state and national—should be formulated and inaugurated, based upon the proposition that all taxes should be general and none special. All of these taxes, for the several purposes, should be assessed, levied and collected by one set of revenue officers, and thereby an immense system of economy introduced, whereby the collection of the revenues of the country should not consume, by one-twentieth part, what is now consumed in the almost innumerable methods which are adopted to obtain the people’s money by indirect means. All of these subjects are for the laboring classes to take up, examine, decide upon and rectify, and never will they obtain the possibility of an equality until this is done. Never can equality be possible under the forms through which government is now administered and supported, and never will the laboring classes become independent of the wealthy classes until the freedom, equality and justice, which are the birthright of every citizen of the United States, become possible of attainment under its government.
PAPERS ON FINANCE AND COMMERCE.
NO. I.
In the following papers it will be our design to treat the questions of Finance and Commerce in a somewhat different manner from the ordinary and current way. The mere records of the transactions had in the world of money and of merchandise belong to the ordinary method of dealing with all matters that interest the people. The facts—the results—only enter into the consideration, and if serious conflict or serious faults are recorded, no attention is paid to the sources from which they spring, and from which they will continue to spring so long as the sources furnish the causes. All subjects, and all parts of the common interests of humanity, will receive from us not only the attention which the present demands, but if the present brings unhappiness to humanity, or does not bring happiness, the fountains will be examined to discover where the stream takes on its bitterness and its sediment—and, for instance, produces financial disease—with the view of exposing to the people what causes their unhappiness or lack of happiness.
As society is constituted at present, nothing within its interests has so much power for good or ill as money. He that has it is independent—is a free man; while he that has it not is dependent—a slave in some one or other of the forms of slavery. Men recognize that this is an imperfect condition of society, made up, as it is of people born free and equal in the eyes of the law, and by it entitled to their chosen path of happiness. These being the birthright of every one, the construction of society should be such as to guarantee it to every one. As society improves its condition, the advance made will be ever toward practical equality in all temporal things. It is the duty of those who labor in the interests of society to lay hold of the future, and bring its conditions into the broadest present application.
Money being the corner-stone upon which society is now built, is thereby that stone of all others which should be perfect, not only in form, but perfect in duration: that is, it should be of such composite elements that time nor change should be able to produce any effect, either upon its external appearance or upon the arrangement of its parts. It becomes apparent, then, at first observation from this standpoint, that our present corner-stone is not one that can endure; it becomes plain that it not only will change, but that it should change, because of its capability to meet the requirement of a perfect corner-stone, upon which society can rest with perfect and continuous security.
Gold has long been the accepted money standard of value. Intrinsically, it has no value other than for the other uses to which it is adapted, but custom and long usage have raised it into the position of a god, before whom the world falls down and worships with as much devotion as Pagans do before their various gods. And, considered as a god, none other has in this day and age one-half the power, nor is any other worshiped with one-half the devotion it is. This may be considered an unjust reflection upon the so-called Christians; but let them, as a class, examine themselves individually, and if the analysis does not sustain the proposition, we shall be very willing to confess our error, and appeal for forgiveness. Gold has been the accepted money standard, but the practice, since the depreciation of our country’s credit, has, to all intents and purposes, reduced it to a mere commodity. Our money is not measured by Gold—Gold is measured by it. It may be said that this is merely for temporary convenience, but nevertheless it is so measured, and the practice has demonstrated that so far as facilitating exchange of products in our own country is concerned, its use might be dispensed with. If it can be dispensed with and trade continue, its importance as money entirely disappears. Would dispensing with its use offer any impediments to commerce with other countries? But this article is simply introductory, intended rather to indicate what our treatment of finance will be, than for the discussion of any of the questions that arise under it. These will remain for future consideration; here we will simply state that we do not believe gold to be a true standard of value; that we do not believe its use as money is at all necessary; that we do not believe that its use as money contributes to general prosperity; and that we do believe that its use will be supplanted by a new medium—the true representative of that portion of the real wealth of the country which is at the given time in the process of exchange.
New York, August 25, 1870.
PAPERS ON FINANCE AND COMMERCE.