The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-09-28
The A-nti-AGonopo1ist.

one penny Of taxes, through the creative
power Of paper money. 1t was no small
achievement to have produced SO valua~
BILE result without laying any burden
whatever upon the property-holders Of
the States. The event justified the means
while the circumstances of the case have
supplied one OF the most cogent and sig
nificant illustrations to be anywhere
found Of the advantages of currency
issued directly to the people by the gov
eminent and divorced from basis OF the
precious metals.
| How like was this process to that pur~
sued by our own government during the
late war. 1t required but for a few
months to exhaust the loaniEg power of
the banks and of capitalists, confined to
specie. Had the attempt been made to
carry on the struggle by the use Of coin
alone, it must have quickly brought
about the most serious embarrassments,
ending in paralysis Of the national ener-
! gies, stagnation of resources, and inabil-
ity to feed, clothe, arm. and pay armies.
But when gold and silver ceased to be
any longer available, Congress author
lied the issue OF treasury notes, made
legal tender. That act seemed to speak
the words OF enchantment. The country
| sprang into prosperity in the midst Of
stupendous war. Every man who desired
to work found purchaser for his labor.
| Every man who had labor's products to
sell obtained ready market. Every
man who had a house to rent secured
tenant. Cash payments more and more
did away with applications for credit.
| Hostiiities were prosecuted with the ut
most yigor. Nothing was lacking that
/ soldiers needed, for sustenance, tor
clothing, Tor medicines, tor hospital ac-
comodations, toa armament. No such
scene Of rapid development Of national
strength and Of national development
had ever before been witnessed in the
worlds history. Nj. Carey thus draws,
with a mastery hand, the outlines of the
occasion.
| 'Let us, for moment, suppose the
existence Of an individual with wealth
so great that all who knew him might
have entire confidence in the perform
ance OF what he promised. Let us then
suppose that he should have said to the
iaborers OF the country, TO into the
mills, and l will see that your wages
are paid to the millers Employ these
people, and will see that your cloth is
sold;' TO the farmers, Give your food to
the laborer and your wool to the niliers
and l will see that your bills are at once
dlscharged;' to the shopkeepers, Give
your coffee and your sugar to the farmer
and | will see that payment shall forth
with be made to the city traders, Fill
the orders OF the village shopkeepers
and send your bills to me tor payments
to the Il lords. Lease your houses and
look to ~ for the rent; to all, I have
opened Z airing house for the whole
country, and have done 80 with view
to enable every man to find on the in
slant cash demand for his labor. and
its products, and my whole fortune has
been pledged for the performance of my
engagements; and then let US examine
into the effects. At once the societarY
circulation would have been restored
Labor would have come into demand, thus
doubling at once the productive power
OF the country. Food would have been
demanded, and the farmer would have
been enabled to improve his machinery
OF cultivation. Cloth would have been
sold, and the spinner wonid have added
TO the number Of his spindles. Coal and
iron would have foundincrcased demand,
and miEes and furnaces would have
grown In numbers and size. Houses
becoming more productive, new ones
would have been built. The paralysis
would have passed away, life, activity,
and energy having taken its place, all
these wonderful effects having resulted
from the simple pledge OF the one suf-
ficient maa that he would see the con-
tracts carried out. He had pledged bis
credit, and nothing more.
What is here supposed to have been
done is almost precisely what has been
done (this was written in February,
1869 by Mr.. Lincoln and his Admins
tration. the only difference being. that
while in the one case the farmers and
laborers had been required to report
/, themselves 10 the single individual or
/ his agents, the Government has, by the
actual purchase OF labor and It's products
AMI the grant OF its pledges in 4 variety
81 shapes and forms, enabled each and
every man In the country to arrange his
business In tho manner that I'd himself
has seemed most advantageous. To the
laborer IL has said, We need your services
and In return will give rou that which
| will enable your family to purchase
food and clothing. 10 the farmer it has
said. we need TODD. and. we will give
you that BY means 81 which VOC can
pay the shopkeeper. TO the manuiac-
turer 1t has said, We need cloth, and will
| give you that which will enable you TO
settle with the workmen and the farmer.
To the naval constructor 1t has said /;
we need your ships. ard will give pou
that which will enable YOU TO purchase
timber. iron, and engines. In this man
ner it is that domessc commerce mas
been stimulated into life, the result ex-
hibiting itself in the facts, that while we
have in the last three years 1852, 1868,
Il 1861 increased - an extent never
known before the number OF our houses
and ships. our mills. mines. and fur
naces, our supplies OF FOOD, clothes. and
Il iron; aud while we have diversified our