The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-09-07

suchRa loose and uncertain manner tha'
the great fact has never found q lodge- i
ment in the minds of those VINO nave
written most upon the money question.
Because of this oversight, ''the value OF
money has been treated exactly as Il tnls
value remained the always same, OF
nearly the same ;hence the prevalent pc
lief that gold always has the same value.
There is lust one way for asccrtainlng
| when the value of gold money, or any
other kind Of money, is Increased OF ue-
creased in value, and this by comparing
its prices with the price OF many other
things. When thete is quite UNIFORM
rise Of price in nearly all kinds OF thinss'
that is, where the same nominal denom-
ination of money will buy more t.hgs,,
then there has been tall in the price Q.
money and if the price Of things iall
with the same general uniformity, tnat
is. when the same denomination OF mon
ev will buy more things then there mas
been rise in the value Of money. Ihls
is the general rule and it would apply 10
gold money, silver money. or paper
money.
! Lest We be understood as to what we
mean by the word money, we will give
our definition, as follows: money IS
the legal means of payment" w hatever
creditor is compelled to take in salts
faction of his claim is money, and what
ever will not pay debt legally is not
money. The dividing line is the legal
tender, Gold is called real money SIM
ply because so many nations have mace
reason whatever.
When gold is the only tender OF ma
ton, then everybody who contracts
debt simply sells gold short. This is the
effect of the operation. At the present
time there is a gigantic corner IN the
gold market, which has been engineered
Dy foreign bankers principally who have
induced the German Empire and the
United States to SO legislate as to force
this corner to collapse some three or four
: wears hence. The first move in this gl-
: yantic cornering operation was TO induce
Secretary McCulloch to call in, fund and
, al! Understanding obligations OF the
, United States Government that had been
3 used as bank reserves. This destruction
F, compelled the banks to replace these
interest bearing notes with non Interest
t bearing greenbacks. This contracted
the currency in the United States. Thu
e result was that the people who had beer
h buying and paying cash soon found tn
r money was getting tight" havingt goo
e credit they began to run into deOl IN
r contraction Of the currency cont nue.
' they could not pay their debts, and
a 1898 this plan OF robbery eliminate
when the President refused to make
: temporary issue Of greenbacks to Ne'
; York banks on government bonds. LII
n panic followed and we are familiar wit
! all the rest.
o Over in Europe this gigantic schem
S of robbery took i different form, Bis
: marck, tor some unexplained reason, DE-
monetized silver, and the Bank Of Ber!i
: entered the list and began to hoard golc
a The bank of France was also engaged j
h piling up its gold reserve. The bank
). Englan from necessity, is compelle
= to do the same thing. These tire
!. banksahaye Withdrawn from circulatio
: and locked up over $1,000, 900 Q
e gold coin dnring the past three year:
= Although the process has been hid b
q different names and under different IN
genious devices, in effect, it has been
It contraction OF the currency, both
Is Europe and in this country, and tni
. contraction has had the same effect hotf
I in America and in Europe. This efie'
: has been ruin, wide spread and univel
n sal. The contraction OF the currenc.
n disguised it is true. but nevertheless cor
n trac ton pure, and simple, dishonestssar
re Will anous.
r. This leads US to the considerati on
it the remedy. The great point to
IS aimed at in establishinga currency is
It. prevent corners. Ii gold is the on
IS legal tender, and as all debts are Il
ne same thing as selling gold short, the
it gold is the worst basis tor currenc
ly simply because the volume Of gold
$, the world is always SO limited as to
on liable to a sudden corner. If we brOa
n. en- the base and make both gold and 81
yer a full legal tender. then both 80
and silver must be cornered at the san
time, in order to corner the money ma
.. - ket, Tor ii gold alone is then cornered,
u, soon as its price starts up people pay S
." yer and the corner breaks; hence it
:" that France with protective tariff a
~ ~ the double standard OF gold and silve
UDuIisuSS, WuelclS I'LL II
p. free trade and gold shackles now q Va
az =" in fear OF her industrial ruin, as s
."' stand. upon the Very brink OF aatior
bankruptcy. France has always clu
:. to protect on and the double standal
1T from Coiber.s dat to this, and she
IN prospered, because the system acco'
the with the iact> q. experience. sound r.
=. son, and plain common sense. Engla
lx- mas been m.sled by building her ecor
I'd mic edificc upon unsuostaniial suppo.
tn. ions which hare ignored nany of
ca important factors in the Calculate,
ely she has supposed that gold had Fl,
In value: She is now suffering because
Ter. her ignorance, and yet her lead
OF economists are ridiculing the hon
'ih- Americans who are earnestly endeav
ing to solve tnis complicated monet
all problem in sucn . way that it will be
is moved from controversy tor all time
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