The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-10-19
QUESTIONS. AND ANSWERS.
MgEKER Co. Sept. 80, 1876.

DEAR S1R:-Some Of the Republican papers
are accusing the Greenbackers for leaving the
question unanswered whAre to get gold from
t. pay tho interest on tho national debt, if the
greenbacks were made full legal tender for all
purposes, except I r the payment Of such obli-
able in coin. They further admit that the f.
nancial system. - advocated BY the Iudepend-
ent Party would be excellent ii the United
States were ''the whole world, !" but as they are
not, we aro bound to have our paper money
based on gold.
Will you. Mr.. Ed tor, please explain the
matter to these fellows.
IxDEPRxDExT.
dnsucr lst. The Independents arr
que that it the greenbacks were made
receivable in payment Of duties on i'm
ports there would be no demand tor gold
that because gold alone, under the pres
cnt laws, can be used to pay duties on
import demand is thereby created tor
gold. and that, it this demand was abol~
ished, by allowing duties to be paid in
greenbacks, the premium on gold would
ut once fail to nothing. II greenbacks
are thus made worth as much as gold
the holders of national bonds would just
as soon receive their interest in green
backs as in gold. But suppose there
remains small premium on gold and
bondholders demand their interest in
gold then let the government go into
the markers Of the world and buy gold.
paying that small premium This would
only be for time. II the government
issues 3.65 bond, interchangeable with
greenbacks, interest and principle pay
able in currency, it would soon absorb
the billion dollars now held by the saw
ings banks lor the people would prefer
3.65 bond OF the U. S. TO any savings
company, with tits billion dollars, much
Of which would remain permanently in
the hands OF the government, the gold
bearing bond could be retired.
Again-the substitution, OF green
backs for national bank notes would de-
crease our interest bearing debt 4346,-
| 600 600. or over one fourth, the demand
for gold. And if the amount Of currency
per capita, is madethe same as il England
this would wipe out about $500, ,OUO, zoo
more OF the balance Of the interestbearing
debt ofthe nation. The remainder upon
small figure.
inswer I'd. Each country is seperatc
and apart from the rest OF the world in
lis financial transactions. That is to say
the money OF one country does not, tG
any appreciable extent, circulate in any
other. We see no English sovereigns il
use in America. and Englishmen see NJ
gold dollars in circulation in England
Our exchanges are not made with golt
or silver. We pay. for our imports with
our exports. The importer OF wines
silks, etc. buys and sends to Europe bill
Of exchange upon wheat, cotton, corn
etc. shipped to Europe. We ship som,
gold bat it is as merchandise and it i
melted down in Europe and received o
used in The arts. The balance oftrade
now largely in our favor that is our q
ports more than pay for our imports. >
that there is no necessity tor money :
send abroad, and We hope this may al
ways Be the case in the future. II w0ul
be m advantage to our country il y
, had q currency that could not be ex
ported. We would then. - . na4ior
be compelled TO live within our income
. and those who sold to us would have I
! take their pay in our home production.
ii We trust we have sufficiently answere
, our correspondents questions.
EDITOR RANTI-MONOPOLIsL.