The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1875-07-12
The Financial Questionable Necessity for
Independent Action..Both Political Parties

The Financial Question: ne Necessity TOT
Independent Action-.Both Political Parties
in Fault.
MoRR1srowN, Mimi, June 26th, 1875.
Ed. nt-Monopolist:
Accompanying this letter is set forth some
resolutions of town meetings, showing the
grievances the laboring classes are suffer-
ing under at this time, brought on the
leaders of both the old political parties.
However honest or patriotic they might
have been in their intentions and declara-
lions when asking the suffrages of the peo-
pie, they have most signally failed to pro-
mote the best interests OF the country.
And it is not for me to say whether their
failure has been caused by weakness OF IN
telect. or want of moral honesty. We can
only Judge tree by its fruit; honesty,
coupled with ability, should have guarded
and promoted the best interests of the whole
country Ability coupled with dishonest
fully accomplished. would eliminate in
great gain to the few who had betrayed the
trusts confded to them, and correspond
ing amount of loss to those whose interest
they were solmnly sworn and pledged to
w
the people to judge who are the men of
wealth and ease who have accumulated large
possessions by r. r. schemes, National
Bank Shares, SC. SC. Have these things
fallen to the lot of the laboring class in pro-
portion to hard toll endured, or is it in I'M
due proportion to the salary allowed by
law to the representatives in the hands of
the few who have been entrusted to work
for the good of the whole people: Who
were the men that worked cheek by jaw to
get up a credit moblier scheme to rob the
nation of many millions Of dollars, who by
their joint votes in congress passed the
back pay salary grab, X. K. grants, to be-
come millionaire by systematic legalized
robberies of the mass OF the people, for the
benefit of few? The answer is, Republic
can and Democratic Congressman. In these
grand swindling operations they have prov
ed themselves as closely connected as ever
} the Siamese twins were, and know just a.
we'll as they did that the death of one woulc
cause the death of the other.
What is the great financial work these
great worthless, the men who have beef
honored and trusted, have done without thu
bidding or counsel of their constituents
They have withdrawn from circulation owe
III
tender money that came direct to the PEG
pie for services rendered; also. eight hund
red and fifty million, seven thirties SINAI
, government bonds, bearing a low rate of in
: terest say three per cent, q convenient ar
! rangemeat for a circulating medium or
!. safe deposit for other money to be investe
! in, while person was not wishing the &C
), tive use on which he could draw Interest
| L., III hos loSs
lion, and fifty million of circulating med
um withdrawn from the use of the peopl.
!. converted into government bonds, the priI
: ciple and interest made payable in gol'
y and which are exempt from taxes An
n for this Withdrawal of currency. convertie
a into bonds. and exemption from taxes theI
e was no valid excuse: as it has all been do,
0 since the war was over. This money WI
9 what caused the unparalleled prosperity I
:. the country in the decade from 1860 an
: 1870, as shown by the census of 1850 al
1870. Where is the money now. In go
!, bonds in Europe, drawing gold interes
= payable every six months The WITHDRAW
y nj of this money from circulation, is Il
:, prime cause Of stopping furnaces, forgt
:, and factories: the breaking down of ra
- roads. causing The number of failures
:: increase ten fold from 1864 TO 1873. al
a the aggregate amount of liabilities to
i nearly twenty seven times greater In I
same time, and which has thrown hundre
~ of thousands of operatives out OF empie
ment, causing want and suffering to TN
- and their families, and = demand on I
no hand Of charity to save them from prem
' ture death. Besides blighting all the gu
"a ness of the country. and fearful foreot
ing of ruin to the whole nation, by oil "
have watched the effect of this unwise leg
,l- latiou. prompted and urged on BY a oandl
composed of gold gamblers and mon
75. SPECTATORS whether on W all street, Congre
or in getting up national banks, throu
which the people must get circular
der medium to transact business with, ~ II
life cent per annun in direct and indir
My way. While all this destruction to the 2
an interests of the country has been gong
nth all classes, except the leaders of the
of old political parties. who 'were engaged
nd; plundering TIE people. were kept IN
the citement by these cunning thieves by VIII
rho sale s.aughtering of negroes . plan VII
tied now must appear to all who win reflect
tie q moment. seeing it always occurred
L.. IL <>fl