l,s THE .sex. 



Credit Slrategetic. — We must now remember that the emergen- 

 cies arising out of the present relations between labor and 'capital,' 

 invite die display of some new and original tactics. We see the 

 Trades Unionists out of employment and starving, while the wheat 

 of t he Grangers is rotting, and they out of money. What is to unite 

 these interests except a new manipulation of credit ? There are 

 thousands of men yeai'ly going on a 'strike,' and millions fleeced 

 from the farmers, in exorbitant transportation rates. Both the rail- 

 roads and the manufactories would be glad to get on their knees 

 and beg, in view (if a new application of credit. Then, again, there 

 is the present creditor class, few in numbers, but setting their trap 

 and waiting for the game. Now, we know just how much gold there 

 is in the country, should we not know where it is ? For, having an 

 organization of business completed, what is there to hinder our 

 turning the tables npon them if but one man in ten, on Saturday 

 night, should hoard his $5. gold piece. The National banks threat- 

 ened Congress, cannot Inhor. properly organized, threaten both ? 



^SIMPLICITY OF LABOR CREDFr, 



How dirt'erent now the laborer's credit from Shylock's credit. 

 We have been extricuitiny: ourselves. One entailed debt, distress, 

 and was always prospecting how and when it could take advantage. 

 But the other is so simple, I had almost said, it needs no credit. 

 For what does labor need credit if it gets jiaid, will there not be suffi- 

 cient lloating capital ? There is no stringency, for which it must 

 borrow, to get out.* And it cannot 'speculate' or gamble, for if it 

 should lose, as one party must, there is no natural law that could 

 (enforce the collcclion of debts. No, an cxaxit and complete equiva- 

 lent passes in all transactions. There is no interest lo compute, no 

 'investments,' no 'divid(;nds.' But how improvements go forward, 

 and of such a solid character ; and natural resources are developed, 

 iiaiid in }ian<l with lalior. Tlicrc! is no 'watered stock' now, nor 

 iiitcrcsf bcaiidir boml'^. tnc ljridir<!S, the school-houses, the nuirket- 

 iiouscs, th<; water works, the railroads are all binlt without inter- 

 est. No more 'hard times,' 'suspensions,' 'panics.' For the gold 

 dollar, l)oth as to its intrinsic nature, and its mode of issue, has be- 

 come transformed into a Labor Dullar. 



'I'lirrc !iro two kinds f)f (Todit. Credit at cont, and credit moiio|oly. Or'ditfor 

 Hix'ciilatiiin iinil cn'djt for lahor exchange. C)ne enslaves, the ottier lit)ei'nte». 

 One rreatPH debtH, the. otlier does not enforce their collection. One produceB bank- 

 riihtcv and panics, the other fails only when the crops fall. Then enhanced price?; 

 cancel the loss. These two credit svstems should not be confounded. 



