The anti-monopolist., 1875-10-11
Th9 Anti-hlonoPolist

,au nf the margin bekwesn gold and green.
,ocka wor,ld bv wiped out, and al the indus
ries of the country be correspondingly benet
itsd. To comnlan sense people, who havs 1oi
bonds, and cannot get into the goldrlng,n
rats were in league with Congress snd the,
President to bear the price Of greenbacfks ratfl-f
or than to make an effort to appreciate ttear1
value, and this is tie way ths people put the
issue: n.sr a.,
ne of Qreenbacks to the value ct gold, the re- |
publicans would appreciate goid ,,ntrn a. the eS
rroardiess of its effect upon the values OF prop
Yonr argument on national banks is in
striking contrast with your report IS 'chair.
man of that summer watering place congress
ional COMMITTEES, which you had the pleasure
of taking around, and which hnaiiy Wonno
mn recommending sea les Of canal tnnneliingS
to the extent OF over thrse hundred millions OF
dollars. In that report you profoundly assert,
"Where combination is possible, compel
ton is impossibie:" The only conclusion that
can be reached by basing an argument on TINS
theory, is, that when combinations can 6e made
shut out competition, that combination be-
comes monopoly. What is to hinder every
new national bank from combining with the
already existing national bank ring! The TACT
;s that the present national bank combination
is the most complete and powerful monopoly
in the country.
The statement that the national banks pay
500 0OO, 900 per year IN taxes, WIZ no' year ll'-
vestip alton. 1t is strange that with ali your
con,em, for the common herd, and your pre-
vailiny idea of their stupidity, that you ex-
pec ed to lind any so qualllhle as to the swat
low the statement that national banks PAID
double the taxes OF other people on an equal
valuation You cannot compel them 10 py
law, and have yet to hear OF the nrst iilsea nee
" wbere a national bank voluntarily paid twice
as much tax as assessed. Then you talk as
| thouoh were this molies not employed in
| RANKING II would not be taxed. What an alb
surdity! If tins MONEY was III anything but
government bonds, the tax gatherers could
| inc it more readily than now; # 1t wrrt' In any
productive business 1t would D- OF lar more
value than it ever can be III bank.
Eoually absurd, is the idea that national
bank owner Is more patriotic than national
granger. or a national shoe maker. Inc coull-
/ try would have gone to eternal Smash hiu
vonr national or any other kind OF bank pa.
triots filled its armies. In tact, more capltal
| left the country through the tlmd1y yol
snea,, of that it took to put down the rebellion
n hpr.. j. the shipping that spss ad its wings
and sailed away from the United States durlEs
tht war, Vast quantities If other property
leit the country then.
You make "a great point on paper money IN
Hatlon. Gold and silver imitation has precise
ly the same effect. The vast quantities OF sli
yer and gold mines IN the last twenty Nv
wears has raised nearly all values when meas
,urpd nv a gold staIdard, and silver has depre
ciatei so much as to be worth no more thal
or+enbacks. In Prussia the 5000 mllllard
naid by France, has had the effect to lnflat
values to four and even five times their form
er value. have another case IN point:
t The annual revenue OF King solomon wa
put down at over Slo, ,OO0 ,OOO per year ove ,N,
and above what the merchants brought. IN
Z result OF this tremendous imitation OF pure goi
e into the little country of Israel, was fas tt
: most reckless extravaganza the world has es'
. known. Silver was deprecated to be IN va
e ue as stones, and sill with ali this vast appf'
II ciatlou OF values, with an honest currency
e gold and silver as basis, the people were d.
It happy, Tor they went TO hehopoam MS su
If cessor with this complaint
.Thv father made our yoke grevlous; nov
i therefore. ease thou somewhat the grevlo
d spryitude OF thy father. and his heavy .yol
: that he put on us; and we will serve thee
y Rehoboom, however, being vast m"m'
5 mouopolist, looked to still contracting I
u currency, when the outcome was panic .,
q a contraction of his kingdom. So profound
fnanci.r as Yourself, might throw some llg
on this great gold imitation.
S Ca1fornia and Australia are both strikl
examples of the effects OF an abundance
gold in circulation.
"The laws Of trade are memorable; abundan
breeds extravaganza, which, IN turn consun II
at the sources Of Its own life" What then, I
he comes Of yeur warnings from experience, II
h. same result is brought about by gold and
r ver As with papers
he must confess see nothing new, in yo
lat financial speech. You use the same oid nae
at neyed arguments, but less forcibly th
Az Schurz and some Others present them.
,e- pirate about an irredeemable currency,
ag though the republican party were not resp
ast sible for its existence, yet you do Dot sugg
Of any method of raising the value OF your
en- precistsd paper When the old Contlne
,r- money was 50 deprecated, theact OF Congr
Ia resolving to redeem it sent it to par at on
to Let Congress abolish the legal tender cAu
af- and ereenbaoks could mot be kept below I
.he You cannct expect either party or 1ndisid
hat 10 have faith in th4>unency until the COVE
Aid ment does.
IN The cry of reputation comes with bad 81
nal from a party that has while IN power repu
ess ated its Obligations on currency as wen as
fill erythiny else II is not to be expected th'
th. nartv that considers a dollar loaned To
is country " hen gold was 2S9-100 dollars, n
.s, sacred than the blood of the soldier that fou
cad It's foes, can ever appreciate the grievious
ote uox pressing down on the neces OF tne PEG
var The party that seeks 70 sthe fle hue.r1y 0,
his press, and for that purpose re-enacts the oiu
rse .ijtion law. would without doubt allow the
nd. ernment 10 become the agent and go oes~
en- of banks and money brokers against TIE
AIRY pie. a a.