The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1875-08-09
THE FINANCIAL ISSUE AGAIN..

We are glad to see that some Of the
Republican and Independent papers are |
getting their eyes open on the financial
issue. Our much abused resolutions in
the Democratic Republican convention
are already bearing good fruit. The
Minneapolis Evening Mail (RepuDlican.)
OF July oath utters some very sensible
thoughts on this subject. We quote:
The Mail does not believe that the best way
| to resume, is to resume. Many man, who, ii
he had had time given him, might have been
saved the perils of bankruptcy. Bnt his cred
itors came when his business was depressed,
his collections bad and his ability to borrow
exhausted, closed upon him, he was crowded
to the wall and gave up the struggle. The
| very same principles Of economy apply to ma
tons as to individuals, except that nation
cannot be crowded into paying its debts except
by force of war. A nation, therefore, IS con-
stantly in position to maintain its credit, if
disposition is manifested to pay its debts. The
war was no sooner over, than there was pro-
cess of extinguishment of the national debt be-
gun. With an abundant currency, facilitating
every transaction Of business, the spirit Of en-
terprise and speculation sprang up, aud mil
, lions upon millions OF new values were Gre
D l AAsss@s
makes two blades Of grass grow where but one
grew before? When mine Of coal, Of lead or
iron, or of gold is opened and its products
) made available for the use OF man? Is not .
new farm opened, cultivated and improved \
new yaluee The Mail believes in perp 'tuatlna
) that condition Of things wherein the natl IA
resonrvs Of ths country are developed; ws be
lieve the national debt should be paid gradual
s ly; that the $500, 900 900 to 500, ,OOO, 600
greenbacks, which are really the government
promise to pay dollar, ought not to be- fOIcet
! to payment under the plea Of specie pay
}. ments.
'f We find the Waseca Radical, (lnde
\ pendent, )also talks very sensibly as lol
, lows:
of To start with, we confess we are NJ
Z very well posted regarding the cunenc
4 question; but for the life of US we cannot NJ
= derstand why greenbacks, which bear no II
:, terest, should be withdrawn, and gOld-ints
q est bearin. bonds be issued in their stead, i
II banking. purposes, unless the object y
"a s'heece the producing masses for the benefit
:. national banking capitalists. ltaseems to
j that Cong ess should put stop t., the increa
n, OF the interest bearing debt of the nation, al
-. if there is to be a contraction Of the cnzenc
- let il commence with the national banking
,.o stitutions. While we are not prepared for
~ unreserved endorsement Of these resolution
we nevertheless consider them far superior
"a the specie payment clap-tTap which II 70 fas
- ionable among the money changers, when, 2
\. matter Of stern fact, there l. not specie enou
i'm the whole country to pay one-quarter Of
present national debt
lus =. We hope the discussion will contn
- until the whole people understand
a. meaning Of the sneers at rag none.
~ common in some quarters.
80 If we were as people, in a conditi
lsh to choose between currency Of the V
les ue of gold and one worth fifleeL per ce
u. less than gold, we would Of course p
fer the former. But five already hs
DE-. the latter currency and can only obt
N, mr. the former by exchanging for it the pr
: Of perity and happiness Ct millions o.
to- people. should we make the chan
pro- And if few years OF development
. ~ u give US the desired exchange, with
nde, any less prosperity or happiness 70 %
opd I millions Of people, would i NOT be be
eve to wait until that time? The great
~ = Of government i human happiD
vor- Should we sacrifice the object Of gov
! "a - ment for an incident of goveTnments