The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-06-01

from the national money It's power to
pay interest on bonds and duties on i'm
ports. The second act has contracted
che currency on the country until it has
| shrunk the value of property to its pres.
ent condition by destroying public
confidence; and that without shrinking
any Of the debts contracted in its use.
do most humbly hope that | shall be
able to show the fatal causes that have
been allowed to operate and bring this
wretchedness and ruin to the homes OF
OF untold thousands of the men AID the
women throughout our country
Facts will show that it was the unwise
acts of Our own government that have
allowed a policy to prevail more in the
interests OF foreign governments than
our own
It was these unwise acts OF legislation
that brought discredit on our national
money, as have said, by introducing
into the law that created it that terrible
word except, which took from our legal
money its power to pay interest on
bonds and duties on imports
The introduction of this little word ex-
cept into the original law drew tears
from the eyes OF Thaddeus Stephens
when be looked down the current of
events and saw our bonds in the hands Of
foreigners who would be receiving gold
interest on every hundred dollars of
bonds that cost them but fifty or sixty
dollars in gold
But ter the introduction of that word
except into that original law, our bonds
would have been takon at par by our
own people, and the interest would have
been paid at home in currency, instead
Of being paid to foreigners in gold
An additional calamity has been
brought on our country by a national
policy that has taken from the people
their currency, the tools Of these trades,
the very ifeblood of the traffic and
commerce of our country.
Facts show that in 1865 there was il
the hands OF the people as currency
$1,000 per head, and at the time OF our
greatest national prosperity.
We have now arrived at time OF IN
equaled adversely, with currency in
1875 CT Sl7 $4,000 per capital, with fail
ures amounting to $500, 100000 in a
year.
the county it may be well to look at the
enormous increase III our foreign I'M
portations, which amounted to 1859 O00,-
600 in the year 1868, and increased to
1854 900 900 in 1873, and was 1914, 00O,-
900 in 1876
These facts show sufficient cause for
the paralized industry of our country.
They also show that Senator Jones was
right in saying that 1.-The present IS the
time to undo the unwilling and blunder-
ing work Of 1875" By the resumption
act, to take effect in 1879, every man
That is IN debt will be liable TO have his
property sold out for what it will bring
N gold.
think you will agree with NE when
/ say that prosperity can never be re-
stored to our beloved country by na-
tlonal policy that enforces idleness and
financial distress on SO vast a number OF
the laborers and business men OF this
couutry Our Nations wealth must for
ever depend on the application of know
ledge, economy and well-dlrected labor,
to all the useful and necessary purposes
OF life
The American people can never buy
uything cheap from foreign countries
that must be bought at the cost of leav-
ing our own good raw materials unused
and our OWE labor unemployed.
find myself compelled to believe
that much of the past legislation OF our
| country IN reference to tariff and cur
rency has been adopted under the ad
vice and influence OF men in the interest
of foreign nations that have a direct mo-
tive to misead and deceive US Oar
prosperity as a nation will commence to
return when the Congress OF our country
shall assumed is own inherent sovereign
right to furnish all the inhabitants OF the
United States q redeema5le. uniform,
unauetuating, national currency,
do heartily agree with Senator Jones
gaen he says that 1.-The present is the
acceptable time 30 undo the uuwitting
aud laundering work of 1878. and to
render our legislation on the sabieet Of
money consistent with the physical facts
concerning the stock and supply OF the
precious METALS throughout the world
and contormable TO the constitution OF
our country
sincerely hope that the concluding
advice o. Senator Jones will make Iiv-
ing and a lasting impression when he
says, speaking to the present Senate ;
We cannot. we dare not avoid speedy
action On the subject. Not only does
reason. justice. and authority. unite 10
urging Us to retrace our steps, but the
organic law commands US to do so aud
the presence OF peril enjoins wha, the
law commands
The Senator states most important
tact and one that all know to be true
that by interfering with the standards OF
the country Congress has led the eoun-
try away from the realms of prosperity