The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-10-05
THE DUTY OF A GOVERNMENT.

II
Of a Government. PETER COOPER
THE TRvE FUNCTIONS OF MONEY
Money, instead OF being the medium Of bal
ance between production and consumption.
protecting production from nom productive
consumption, which is it's proper function.
serves, under our present system, to protect
non-productive consumption in the possession
or control Of neatly the whole wealth of So
eae,y thus defeating its true purpose and OBJ
THE TRUE FUNCTION or MONEY.
Money should be the servant, not the master.
OF commerce. HENRY CAREY BAIRD.
WHAT HIGH INTEREST Is DOING
Exorbitant rent Commonly called interest)
Is silently but surely devourins the substance
OF the people. PETER COOPER
HOW TO CREATE PRODUCTION AND CONSUMPTION.
BY simply allowing labor the unrestricted
use OF money to accomplish its exchanges a
universal stimulus win be given to production
and consumption. The free supply will cheap
en- interest, and low interest by adding to The
profits OF producers will lessen that Of capital.
thereby encouraging the activity of proauc,
ton; CHARLES NJ DCPCY.
JEFFERaONs OPPOSITION TO BANK PAPER.
Bank paper must be suppressed and the cir
culation restored to the nation, to whom il
properly belongs. THoHAs JzFrERsoN.
THE ALL IMPORTANT ISSUES.
No single interest touches the domestic COM
fort and prosperity Of the people as this one of
the currency, and in the present condition of
the country none is Of so much immediate i'm
portance, or calls for more immediate solution.
To put of this queation, therefore, with vague
expressions Of reform, and the desirableness
n IL m hC r,,1sn
interest Of the hour, 1t is to surrender the
people to their suderings without any promise
Of remedy. PETER CoorBR.
THE GOLD swlNDLERs RKBUKED
''lf the bondholder refuses to take the same
| kind Of money with which he bought the
bonds, he is an extortioner and a repudia-
| tor" SENATOR SHERMAN.
| THE BEST KIND OF MONEY
| The people are the SO vereign power. and no
man can question their right Through Con-
grets) to make as much of the medium Of ex-
change (money) as will he necessary for the
wants Of trade. Paper money is better than
either gold or silver. as its volume cannot be
contracted by using it IS merchandise John
MAGuIRE Of St. Lonis.
FINANCIAL IGNORANCE TAUGHT IN COLLEGES.
| The blindest Ignorance regarding the finon.
cial history and status OF the world prevails
amongst almost all classes, and is taught in our
colleges, and is most conspicuOusly manifested
in the Law -r'aking and executive departments
Of our Government. We propose a national
currency to consist wholly Of grcenlacks to be
entirely controlled by the peoples representa-
tives and thus to b. absolutely beyond the con-
troll or influence OF spectators in gold. SyD-
NsY MYERS Of Chicago.
THE REAL IssUF.
The issue is not b-twesn gold dollars and
paper dollars, AS the bullionist newspapers
leave the readers who know no better to infer
The issue is whether our currency shall con
sist OF all bank circulation, doled out to the
people by a combination Of corporations at
exorbitant rates Of interest or OF full legal
tenders issued directly to the people in pay
ment of the debts and current expenditures OF
the Government The issue admits Of no com
promise for upon the result depends the
question whether we are to have Govern
ment OF the people or a money oligarchy II
is one OF the strongest convictions of my life
that upon its decision are suspended the fate
OF our civilization and the destiny Of the coun-
try. Congressman CAMPBELL, " Illinois.
I sTEALrHY AND MOST INsIDIOUs POWER
High interest is the most dangerous. be-
oAuse the most nsidious, OF all the powers
meDacpg the rights and prosperity Of the peo-
pie. Operating silently and unseen, it stealth
lily takes from the producing classes q large
portion OF their earnings, while II keeps them
| in ignorance OF the cause OF their wronas.-
Congressman CAMPBELL, OF Illinois.
WENDELL PHILLIPS
The greed Of capital forces the Government
into one pathway; starving labor clamors to
have il move otherwise. WENDELL Phillips:
WHAT Is xoSEY!
Money is token OF sovereign power. That
! power il not a commodity The material Of
value a. commodity; but sovereign power is
not commodity. To make money merchan-
| disc Is to give power which does not belong
to it; and gold being merchandise il il Of the
wealth OF the country, and not being money
until the token Of sovereign power is put upon
| 1t, the sovereign should look only to adjusting
his own household affairs and withhold his
brand from being put upon articles Of mer-
chAndise. JOHN MA6C1RE, OF ST. Louis.
PRESIDENT GRANT.
The experience Of the panic has proven that
! tbs currency based on the credit Of the country
is the best that has been devised. -Prsidsnt
i GRANTS Message to Congress Dec. /, 1879
The above was Grants opinion or sound
currency when he Was in position TO speak
without prejudice on the subject But thu
money power quickly made him eat his own
WOIus, IOI III suuse4uSHI JDsh6AG0 ne rays
81 commend to your earnest consideration the
REPEAL Of 70 much Of the l~gal-tnder actS ~
| makes these notes s'the best that have been
devised''] receivable for debt contracted after
dste 70 b. fixed in the act itself, nay not later
than the First Of January, 1871" Tbs very
money which he characterized in 1879 q the
"best that has been Devised" lie designated :
year Afterwards as being unfit to liquidate :
4 debt
WHAT THE 0ovERxMExr SHOULD DO.
| The power 70 supply ourselves with ~ much
money ~ may be needed narYows the question
down TO the single point, TO wit How much
Is needed And contend that this question
| Is determined when We ascertain whether or
not the Government owes more than che has
| on Asud or available to pay what she owes
II mot on hand OF available, fhsn enough
legal nom interest barring paper money ought
70 b made 70 maxi mp the deficit. Will
any one contssd thss tbs Government may
NOT pay her deh1 in that way with money,
4 With paper dollars = gold dollars, TIE paper
6ollan bsing = vaijd legsl tender = gold
dollan. ueIo0 thMU ex111s . epecinl coux1et