The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-05-04
BIT or 4 DISCUSSION WITH
BROTHER NCKINS7RY.

La the last issue Of the Faribault Re-
pu ,lean, Mr.. Mckinstry replies to us.
WE quote his points and answers:
| We second the proposition to fund green
backs into bonds, OF make them interconvrrt
ibe but we doubt the practicability Of floating
a bond at 3,G5 per cent. ard if ever ac1mp-
li~hed, it will only b. through gradual pro
cess, continued through years Of financial
prosperity.
1nsmer: We are glad to see that
Brother Mckinstrv is halfway convert
ed already He must remember this,
only the other day Senator Sherman.
chairman Of tie Finance Committee Of
the Republican Senate, admitted that
greenD.cks ought 70 DC tundaole II z
four per It long bond, and il this i,
practicable. why not in a 800 bond3
But we will not stand on the difference
ofa4out third Of cent . year. Call il
a 4 per ct. bond.
II. "But snpposethe pictures Of theblack cats
were funiable into bonds worth as much a. the
real back cats, would not the pictures of 'h4
caf- b. worth as much as the cats1 H ri'
FL TIA. case the pictures would undoubtedly
lc worth a. much a. the bonds. Whether til
bonds would b. equal in value t. the cats,
wonld depend upon whether the owners II tie
cats were willing to dispose Of them for paper
pictures or bonds barring low rate 81 interest
when the eats wer. in brisk demand for cur
rency purposes throughout the world.
Ansrer: Mr.. McKinstry mislnder-
stands the proposition. II foreign
banker i willing to give 800 in gold
for United Sites bond. because he
thinks ii il safe investment and really
wor.l. that much. would he change his
rrisa II he found that man In Far!baElt
could inv the same kind Of bond Tor
600 In nreenbachs .o-if 800 ii goli9
IIT We'll suppose tile .ukschoose toclaiin tn
SINE right anF oil q 41.dsr d any god in
tare-. bearing govefn9s 1T promls-sto pay and
decline t. surrender their b5nd- fir $40, go,
40 81 nnn-in.erest barring prorna1s u pay
rad4e7n4bI- only in other paper prom ses
ia. dos Mr. Dolnelly propose to d. ab3n Ill
I'll seems " ~ -Fi lent from me above that Ii.
aftermath II reputation.
Mt lit Iii this is precisely wfta. TIL
ha1ks 4ra now doing. Thy are sur.
readeri : t4eir notes. and Withdrawing
I'll ii n3nl NJ tn rate oi 9D.y3f.yfJ ysi
year. AMI selling them far -reeElaes5 III
d 3tes III their customers i. there anr re
pudiat.an in nil this, II four years. ii i
4 E@4EG811gtAs t28F4E " Ill I'LL ttfs E&t.Jt@.
90 OF national bank notes left in eircni ].
ton. And this dimnishas IF course tn
aaonnt Of money IN circulation. help
r. Distress business men. impoverisn tn
/ laeora~g population and intensity tn
hard TINES If the banks desire to with
draw their bnnds to sell. WHY not hag
The governmental them off theirhans
anu -iFe them aew greenbacks - til.
the place Of the surrsndered bank n9se-
or why not 1T the goveramsn, issue
| gresnbAck for every bank note !, viii
1k1wph
4. u 8. DonasiIy prl-u-nes greatly upo
sappa Ut tb<y ar- rg. aware ar n III III,
tneuGn - n tie p-ar.i.s, ii the govern
1s.f ese~ten claims for I'd f1r.ssl..t aInrtI
/ - - h-o-i government, or ra,s;.arY -
u 80 eoss Tor spo.ia:ions conn;t;d b II
f1daa. troops upon the property of nos-eoo
!, ta;a.fs Or ioy.i citizens and II the Yssn1ls
= r. Court Of Gains arr 70 b. h1.iered. Z y
= so'nss lns sss2ns'sf thing IN si4- Wild acT II