Freedom! Equality!! Justice!!! These Three; but the Greatest of These Is Justice: A Speech on the Impending Revolution, Delivered in Music Hall, Boston, Thursday, Feb. 1, 1872, and the Academy of Music, New York, Feb. 20, 1872Woodhull, Victoria C. (Victoria Claflin)
Philosophy
Freedom! Equality!! Justice!!! These Three; but the Greatest of These Is Justice: A Speech on the Impending Revolution, Delivered in Music Hall, Boston, Thursday, Feb. 1, 1872, and the Academy of Music, New York, Feb. 20, 1872
Woodhull, Victoria C. (Victoria Claflin)
Social problems; Speeches, addresses, etc.
But how are we going to get free money? Why, in the very easiest way
possible. It is the simplest problem of them all. I am not going into
this discussion to prove to you that gold is not money, since everybody
ought to know that it has no more the properties of money than cotton,
corn and pork have the properties of money. Now, money is that thing
which, if every dollar in circulation should be destroyed, there would
be no loss of wealth. Gold, cotton, corn and wheat are wealth. Destroy
these and there is a loss. But when money is destroyed, there is no more
loss than when a promissory note is destroyed. A note is an evidence of
debt. It is not wealth, but its representative. So also is money not
wealth, but its representative. And if we had a thousand million dollars
in circulation to-day, there would be no more wealth in the country than
there now is, and we would have quite as much wealth if there were two
thousand millions dollars, since money and wealth are two entirely
distinct things.
But they tell us that unless money is made redeemable in gold, it is not
of any account, and that, too, in the face of our miserable greenback
system, which was so much better even than gold that it saved the nation
when, had we stuck to gold, we should have been destroyed. Oh, but it
was a depreciated currency, says some one. Yes, it was a depreciated
currency, and we should have ample reason to be thankful if when we come
to pay our bonds, we have a depreciated currency with which to liquidate
them, instead of being obliged, as we shall, to pay a thousand dollars
in cotton for what we realized less than five hundred in gold.
It is not the gold only of a country that constitutes its wealth. What
should we care if we had not a single ounce of gold, if we had a
thousand million bales of cotton, ten thousand millions bushels of corn
and wheat, and a billion dollars’ worth of manufactured goods to send to
other countries? So you see it is not the gold after all that makes a
circulation good, but the sum total of all kinds of wealth. Now, that is
what we propose to substitute for gold as the basis for a money issue.
And instead of permitting corporations to issue it and remain at liberty
to dispose of their property and let the people who hold their
circulation whistle for its redemption, we propose that government,
which can neither sell our property nor abscond with it, shall issue it
for the people and lend it to them at cost; or if you will insist on
paying interest for money, why, then, pay it to the government and
lessen your taxes that much, instead of paying interest to bankers and
supporting government besides.
Public-domain text, read in full here on John Shaqi.
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