The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-05-25
CORRESPONDENCE.
7 he Financial Question.

Editor Anls Monopollss:
This is the great question OF the coun-
try, and with all the discussion upon 1t
in Congress, and out OF it, the people are
making slow progress to conclusions.
It is said we must have specie currency
to cover our difficulties This is a mis-.
take. We want no such thing. and no
such thing is possible with the present
extent Of The worlds commerce and
trade. And were it possible the incon-
yenience would be intolerable. Resi-
dence in California, where this is partial
" the fact, will soon convince us OF this.
Even moderate amount OF money must
be lugged abou. in the annoying form OF
metal. 1t belongs TO a past civilization.
and its restoration is impossible and USE
less.
It is SAID our trouble is that 1.-The gold
is locked up.n That's the very place for
it. 1t is not wanted Tor currency, not
dollar OF il, and the people wouldn't
have it ii they conld; and the sooner all
the abusive talk about specie currency is
given up the better
Much perplexlty also ARISES from the
mistake that we want gold standard
because of its intrinsic value. The rea.
value OF gold is not half tina, o! iron.
Intrinsic value is no. wanted in either
currency or standard Tor currency. With
the concurrent consent OF mankind.
brass. copper or iron, would serve this
purely representative purpose OF value rs
well as gold But as the world agrees
upon gold Tor this purpose II must oe ac-
ceptea No nation with relations so ex-
tensive and intimate with mankind rs
ours can defy Is laws and prosper upon
itsApwn HI. says. Ibis shall be \ dollar,
or represent u dollar IN value, while the
world agrees .ha. i. is worth but seventy
five cents, wha. IS the RESULT We may
get rich according to our own standard,
and SO did the men il jail trading jack
knives
1t is the business OF the national gov
erpmeut 70 issue money. or the Lawful
representation oil value. 1t is safe Il
coin all the gold i. can Get. for the worl,
agrees 10 receive 1t NJ par with the ma
tons signature upon Il. Blu: no. SO IL
paper. As gold is agreed upon as tn
only standard the paper will De value'
only according 10 the gold which il i
believed reliably 10 represent. And tn
rule OF Judgment will be the same as tn
common sense men 9dupt nj sAS1
own business. The nations paper chi
rency is simply its negotiable notes. In
same financial laws essentially contre
the individual and The nation. and n
economy. strategy or invention ca
change them. nor escape their penalty
II a man is in debt beyond his apparet
means of meeting his obligations whe
due. his paper will inevitably stand !
discount. and no shuffiing one for anoti
err will proven. II. He may issue me-
promises 70 pay" 10 his credulous neigl
bors tor VIVA; they choose 10 give. bs
that only makes the case for both partis
worse in the end The man is deeply
debt with nothing for creditors but .
promise to pay" here IS our country.
Now the question IS. what shall
done? Every man can answer it as we
as a senator: Pay the debts! The on
chance for that man. all can see, wou
be 10 increase his resources, save. eco
omize. reduce the debts and adopt a pc
lev reasonably certain TO effect their III
mate estimation. lie, this De seen
homes, progress. and his credit won
steadily rise to above discount. aud
business would be stable and prosperog
The government can never return
specie payment until it gets specie vii
in reach to do it. For this Accumulate
should begin 1t once whether more n
the interest on the nations debt Is p