The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-02-10

national bankruptcy and Reputation,
Allow US to quote from one OF the Oldest
and ablest journals of New York City,
the Evening Post:
1.-The annual taxation of TIC country
is greater than its annual savings! The
best statisticians estimate that the annu-
al revenue Of the United St;,tes-that is,
the increase OF active capital over ex-
penditures-does not exceed 500 mil.
lions Of dollars; but, holding that to be
a low estimate, we have yet the painful
truth staring us in the face that our sew
eral governments cost nearly as much
as all the industries OF the people can
make. The 700 millions of dollars
which are spent upon the machinery OF
government, and upon those who set it
in motion and watch it as it runs, are
absolutely eating up ouy national in
come and leaving US nothing for the
growth OF the future. This exhaustive
process in a few years must suck up the
accumulations OF the past, leaving US
bankrupt and impoverished. In all the
official documents Just presented ty the
| highest functionaries as the report OF the
past year aud the recommendations OF
the year to come. there is not anywhere
a whisper of economy or reform. Yet
it is as clear as the light Of the sun that
economy alone can save US from a dis
aStrous overthrow. That alone can put
our PROSTATE business ON its feet, enable
the government to keep its forfeited
promises and start us in the second CEN
| fury or our existence on the upward in.
stead of the downward track"
We demand ! repeal of the specie re-
sumption act, on the ground that an at
tempted resumption of specie payments
in 1874 will reduce tie volume of cur
rency tar below the wants of trade,
nearly destroying it. and shrink to an
alarming extent all our property and
products, while debts and taxation
would become no smaller, and contin-
ued bankruptcy and ruin follow. A
speedy return to specie payments means
to the money-lender, paper lent at &C
to S5cents and returned in gold, or its
equivalent, at 100 cents, Taking up that
they laid not down, and reaping that
they did not SOW" We ask tor the
aoolishment OF the present national
banking laws, whereby the people are
taxed % millions of dollars to pay in.
terest on the bonds pledged for the Sc.
curity of the national currency, which
interest goes into the pockets of the
bankers instead OF the national treasury
where it should go tor the benefit of all the
people. That the government NAV is
sue the currency OF the nation. based
upon its entire wealth and resources IN.
GLIDING all the gold and silver in private
hands, in the national treasury. or the
teeming mountains. Let this currency
be legal tender for all dues. including
duties on imports, as well. that the gov.
eminent may not depreciate its own pa
per.
We have been accused bv our enemies
with being unlimited iniationists. We
deny the charge, for we would not war
against our own interests. We want \
volume OF currency equal to the wants
OF trade. interchangeable with interest
bearing bonds whenever there MIGHT he
redundancy. The idea of returning to
n banking system based on specie. as
some imagine. is entirely out of the
question, since at present rates of trans
portatlon there will soon be no coin lett
in the country on which to base such a
system. Then this alternative will pre-.
sent Itseii: paper money based on the
property OF the nation, or none at all,
In the Republic oi France her paper
currency IS ut par with gold. for two
reasons. First. her national debt i
fully paid. Second. it is alike with gold
receivable for al duties and dues TO gov
eminent, and 4 Legal tender Tor nj, .ieb.s
due individuals
we mold to IhiS sacred and now most
momenious TRUTH. that the government
was instituted by the people, and for the
people; not FOR the few alone. br. tor
the many As well. Blu. for many wears
has TINS oeenthe case. Have not pow
erIui and heartless mouopolies usurped
the functions OF or absolutely controlled
the governments |. not. then why this
almost universal di>contento WAY are
the great wealth-producng classes dis.
satisfied Is 1t through lack OF knowl-
edge? Not at all, TOR education is ami;
versal: the public Journal finds its wav
to every hamlet. and to the remo,est
dwelling
Fellow citizens. The cause of discou.
tent - uot iiuaSlnarN. lt Is real. The
legislation OF the country is corrupt and
partial. 1t discriminates against labor
1t helps TO make the rich richer and the
poor poorer. Witness the specie r..
sumption acs passed in the interest of
the money lender. to raise the price OF
interest. and to augment the debtors
Indebtedness. Witness the ua,ional
banking law which nearly doubles the
rich mans capital. Witness the bond
holders exemption from bearing share
OF the burdens Of government. The
saddle goes on to the laborinQ mans
bsck- Our country has almos, ceased
to be Republic Tie metropolitan
press is mostly subsidized. and = mon
eyed oligarchy has almost despet;c
sway.
We hnd the following sentiments of
elegantly and truthiully EXPRESSED in !
recent letter from an Illinois farmer.
The combined money powers have
captured the executive. Legislative and
judicial departments OF the government.
and thew in turn have bound with statute