The anti-monopolist., 1875-10-11

ALI sf fhe margin hskwesn Eel6 and 4eens
ncks would b wiped out, aud ~ ths indus
riss Of the country be corresPondingly benaf 'Fa
To- ss ossae RssRss S 80 TeS ssns
esks very much, . though these gold aristQ- II
,rsts were in league with Congress md TIE,
sroa;de1,t 10 bear the price of grvsnbaclkR fath
n than to make an effort to appreciate ehearf
7alus, and this is sl,svay ~ people put the
sSue: - - go .,,
ne Of ereerbacks. ia the value of gold, the re-
oublicsns would appreciate gold At the ex;
pense of every industry il, the country, and
rrrcardiess of its effect upon the valuesof prop
Yonr argument on national b1nks is in
striking contrast with your report g cnMl. T
man Of that summer watering pisoss ceneress-
ional COMMITTEES; which you had the pleasure
of taking around, and which dnally wound +
mn recommending sea les Of canat tnnneaaingtl
tn the extent OF over three hundIPd mhiion6 OIL
dollars. In that report you Pfofounday assert,1
that. =, . .:,;. ....
tion ia impossiblel' The only conclusion that T
can be reached by basing an argument on this
theory. is. that when combinations can be made |
shnt ont competitiOn, that combination BE-
comes monopoly. What is TO hinder every |
new national bank from combining with the
already existing national bank rlngl Inc iact !
Is, that TIE pEeSent AnsIVH.aA ooA'> oV---H.+.
is the most complete and powerful monopoly |
The M Statement that the national banks pay
500 600. 600 per year in taxes, will not bear ln-
vestioa1ion. 1t is strange that with ali your
contem, for the common herd, and your pre-
vailing idea OF their stupidity, that you ex-
pec,ed to lind any so quallible 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 to by
law and have yet to hear OF the first insta nee
vi here national bank voluntarily paid twice
as much tax as assessed. Then you talk as
though were this mollev not employed IN
banking It would not be taxed. What an alb
surdity1 If this money was in anything but
government bonds, the tax gaatherers could
fino it more readily than now; It 1t We're In any
productive business it would be OF Tar more
value than it ever can be IN bank
Equally absurd, is the idea that national
bank owner Is more patriotic than a. natlonai
granger. or a national shoemaker. The cOun-
frv Wonld have gone to eternal smash had
vonr national or any other kind OF bank pa
| triuts filed its armies. In fact, more capital
left the country through the tlmidity you
sneak of. that it took to put down the rebellion.
Where is the shipping that sptt al It's wings
and sailed away from the United States during
the war! Vast quantities Vi other property
lett the country then.
| You make a great point on paper money IN
Aat;on Gold and silver imitation has precise
| ly the same effect The vast quantities OF Sill
Yer and gold mines in the last twenty i've
wears has raised nearly all values when meas
ured by gold staEdard, and silver has depre-
ciated so much as to be worth no more than
or.enbacks. In Prussia the 5000 milliards
raid by France. has had the effect to initiate
values to four and even five times their form
er value. have another case in point:
The annual revenue of King solomon was
mt down at over SIS, 900, 900 per year oyel
and above what the merchants brought. lne
resnlt of this tremendous imitation OF pure golt
} into the little country of Israel, was far th'
most reckless extravaganza the world has eve
3 known. Silver was depreciated to be IN val
me- as stones. and sill with all this vast appre
ciation of values, with an honest currency 0
g oold and silver as basis, the people were DO
t happy, Tor they went to HehoDoam MS sue
t cessor with this complaint:
ssThy father made our yoke grevious; now
: therefore. ease thou somewhat the grevlou
d s.ryitude OF thy father. and his heavy .yok
that he put on us; and we will serve thee.
< Rehoboom, however, being a vast nome
J. mouopolist, looked to still contracting III
n currency, when the outcome was panic an
. a contraction of his kingdom. So protound,
financer rs yourself, might throw some lgl
on this great gold imitation. :,
S California and Australia are both str'kln
EXAMPLES of the effects Of an abundance
gold in circulation.
"The laws Of trade are inexorable; abundant
breeds extravaganza, which, IN turn consum'
at the sources Of its own life." What then, o
le comes of yeur warnings from experience, II Il
4 same result is brought about by gold ana u
,e must confess see nothing new, in 20!
ut financial speech, You use the same old hacl
at neyed arguments, but less forcabiy I'M
~ Schurz and some Others present them. X
/
ag though the republican party were not respo
ST sible for It's existence, yet you do not suggs
of any method Of raising the value OF your 9
en- nrsci.tad paper. When the old Contins
lr- money Was 50 deprecated, theaot Of Cengr
a- resolving to redeem it sent it tcpar as on'
to Let Congress abolish the legal tender clAu'
IT. and eresnbaohs could snot be kept below r
he You cannot expect either party or individ'
,at 10 have faith in tl1eAu1ency until the COVER
M The crv Of reputation osmes with bad gr'
nal from marty that has while In power repu'
ess ated its Obligations on currency asweii as
fill erythins else. II is not to be expected Una
The party that considers aol,ar lno iGsIsu o1s =,
est sacred than the blood Of the soldier that fool
sad its foes can ever Appreciate the grievious y
ote po,r messing down ON the ueCo1 0k'the peoI
var The uarty that seels 70 seiAe 1hs ilt.sty OF
his press. and for that purpose re-enaets the oio
rve .lition law, would WITHOUT oouos NOV .as y
nd, ernment to become the agent and go oesw
en- of banks and money brokers' a8alnss sne
Ary pie. a. D. DALI
M
asy Our New York Letter.
ent Nxw YoRK, Sept. 16, 1871
es- Editor ANTI Mon0polist:
-. WHAT WE DID At THIS CINCINNATI coSFHh1s
@ 's,- Well, attended the Cincinnati Confere
On. of Farmers and Workingmen, when was q
,ss- together BY commit appointed BY the
M NSnopoly convention held at Harrisburg,
.er in March last, composed Of delegates OF
t ~. full particulars must refer to nv thr,e !
letters in the New York Graphic. OF sep
the II, and 13., The conference was 2 sues
fnnrtesn States were we'll represented. incl
ing such extreme points as Texas, North e
xsd ina Rhode Island, and Iowa. Admission