The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-08-31


A large proportion of the voters of all politi-
cal parties in this District are in favor of
greenback currency and strongly opposed to
forced contraction and speedy resumption OF
specie payments. Then why should they not
unite in securing the election Of a Congress-
ional candidate pledged to the greenback re-
form movement? The necessity Of the hour is
the election OF men to Office who will labor for
equal taxation, the reduction of the interest on
our national Indebtedness, the repeal of the
resumption act and the making of money for
rich and poor alike. 1t remains to be seen
whether the people will throw off the party
yoke and unite in support of the principles Of
justice and right, or blindly follow the dicta-
ton fthe money power.
In q recent number Of the Austin Req
ister, we find a communication evident
ly the work of some one who has stud
led the question at issue. Wequote:-
Ii is truly said that ''truth is stranger than
fiction" And when see men of seeming in
telligence, here in ihe West, whose property is
covered with the mortgages Of Eastern capital
lists, advocating. gold specie resumption at a
given date, it reminds me of the victim of the
guillotine in France, in 93-4, Gnder Robes
pierre. History records that when the guillot-
inc was weary and drunk with the blood of
Its victims, the poor wretches who were con-
demned to it would contend with each other
as to who should be foremost to place their
heads between the steel jaws OF death-each be-
ing eager to be the first
We, in the West, who are such heavy debt
ors to the East, and clamoring for gold resump-
ton, that is to-day rendered us by Eastern
capitalists. are like s'the lamb that licked the
hand that was raised to slay it." The volume
of money medium in the West depends di-
rectly and entirely upon the quantity and
! price of the products OF the soil, and forced
pn,H rpSuplptinn would 1onrocc ba y,ric ~
this product and all property just in proportion
to the difference of gold and paper. Hence
the number OF dollars with which to pay of
| our mortgages in the East, would be in the
same proportion less, and it would be the last
straw laid upon the came's back that would
| break it. Yes the West would be ruined be-
yond redemption
The Eastern capitalists chuckle and chafe
their hands with ecstasy at the prospect OF
| having their paper contracts paid i'll goli-or
what would be still better, for them, to get the
property for 80 to 50 per cent. of its value.
/ The writer could but observe the rejoicing OF
the capitalists at the election Of Gov. Pills
bury, last fail, on the "gold plank" to
show this we reproduce the following which
was clipped from the Pioneer Press at the time
"Hon. John 5. Pillsbury, received large
numb-r Of congratulatory dispatches yesterday
among which is the following from the heav-
lest flour firm in the United States"
| New York, Nov. Sd, 1875.
To Hon. John Pilsbury
| We congratulate You that Minnesota prom
lseS to pay in gold" J. NJ. Fisk 6 Co.
Again we find IN that able leader O
the reform party, the Waseca Radical
an editorial which goes to the very hear
OF the subject. We quote some ex-
tracts -
Now, then, how is it possible, with onl,
| cl66 200, ,OO0, in specie, to redeem the $3.50,
00O,uO0 in paper money! and especially SO, il
silver is to be demonetlzed, as these gambler
declare
OF course it is simply impossible. Wha
then! Why, if the nation is TO resume speci
payments, it must issue gold interest bearins
bonds and borrow the gold. Can even that b
Accomplished And if it could be, is such
course desirable, We think not
First, because our paper noney-the green
backs-is better than gold as circulating
medium. Ofall the classes OF our people, non
but the gold gamblers and the bankers ask TO
gold rs circulating medium; and thay onl
ask it for the purpose of impoverishing tn
masses and enriching themselves. The green
back currency Of TO. day is the best ever devise
in this country. Hence We say that the CT
for specie payments comes not from the mas
seses. but from the Shylocks who hope t
amass fortunes by legally robbing their fel
. lows
, Ii Congress shall bow to the money sharks
the result will I've, We think, total fnanci,
ruin and great suffering. In the greenbacl
and fractional currency we have a medium {
exchange, amounting to s4OO, ,OOO, $50, upo
which we paw no interest. But on the Ns
tianal Bank currency Of s35O, ,O00, 900, we pa
: at least S35, ,O00, 900 annually.
What, then, means this cry for "specie pay
ments!' Does it not mean that the govern
ment shall Withdraw its greenbacks, and il
their place issue gold interest bearing bond
!. and then allow the banks, to flood the countl
: with their billss Wha; would be the result
: such policy. Upon the s4OO, 600 600
greenbacks upon which We pay no interes
!. We should then BE- compelled to pay 900
900 year in Interest. Add this to the e35
1 000, 900 which We are paying as interest TO II
1 bond holders. and We have the BEAUTIFUL su
!, of si73, 900 900 to be paid annually; and y
specie payment has not commenced. IDstes
OF gr-enbacks We shall have national ban
: currency. The country will be drained TO Il
. last cent to pay interest to the bond holde
: and bankers; and instead Of being a nati6
Q of freemen we shall be q nation Of slaves.
|. Yes; the Radical is right. Such po
a icy would wipe out republican institu
: ions in this country, and give us, in lie
= thereof. the European system; "A pow
erful aristocracy above and powerle'
and pauperized multitude below. W
would be indeed "a nation OF slaves