The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-04-20
Circular upon the Currency Question.
Mr.. EDITOR ask your considera

ton Of the following:
The currency of the country consists
OF two kinds. First. United States pa
per money, and national bank notes
Second. Bank and clearing house
checks, due bills, commercial paper and
other private currency.
The former or superior is about five
per cent, and the latter or inferior nine
ty- five per cent ofthe amount in use.
In times like the present thefesults of
over-trading in one department seriously
iuiures sound and legitimate business,
by creating general distrust, weakening
confidence in the inferior currency, and
producing comparative scarcity in the
superior.
To remedy these evils. and to save, as
far as possible. legitimate business from
injury not arising from its own impru-
dence, provision should be made by the
General Government by which the vol
ume Of the superior currency should be
increased, at least to the extent Of the
shrinkage OF the inferior. That while
this would not increase the total volume
OF tho currency OF the country, it would
give to that class Of people who labor tor
= livelihood better chance in being
paid cash and in currency they could
depend upon. j. O., the superior currency.
| Every effort that has tendency to Ell
| able the employer to paw cash to the em-
ployed, benefits the laborer because
this class always pays the most for
credit.
Money is not wealth, only its repre-
sentative.
The coontry is Astounding in wealth.
and suffering for its representative, the
medium by which wealth can be ex-
changed and by which labor can be
paid.
Money Is one of the inventions of soci
ETY. by which wealth is created, and
should be controlled by national law and
the demands OF trade rather than by cor
| porations and Of material that can be-
monopolixed.
| To insure its universal acceptance
throughout the country it should be is
sued by the General Government only.
| To avoid it's monopoly government
should cancel the arrangements with the
national banks, and issue money to any
individual, or corporation that could
transfer the proper security and comply
with proper conditions.
This money should be supplied by tho
government ut y rate OF interest not
above s IS yer cent per annun, mas
much as the industry Of the country en-
not afford to pay more. No financial
system can work harmoniously that dis
regards the wants OF the wealth produ
GERS, and there is no other power but the
General Government, that has the right
tn regulate the value OF money, or haa
the power to reduce the rate of interest
Real estate 10 the best security for such
issue, as it is an evidence Of 2ccumula
ted wealth, while United States and
!. State bonds are evidences Of debt-o
money spent.
d Real eseate should be estimated q i'll
productive value rather than its marke
. price.
The money should be loaned durin,
the life Of the borrower. provided the in
terest Is paid punctuAlly. and the secur
ity is not impaired.
II In order to have all possible sale.
|, guards, the money Of the country shout,
not only have the credit OF the govern
; ment, but individual wealth also, - ths
} basis
A low rate Of interest Is a necessity
, aud the sureas means oil checki-g ex
. travagance, IS It will put it out OF th
/ power Of those who live exclusively q
} s.iucome.~ or the labors OF others. Z
: spend so much in Injuries
81 As the rate OF interest is so1arge m IN
: gredient in the production OF cur CON
i modities. when money can be had b
|. ! our producing infsrests q > rate = q