The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-01-27

! with ample provision for their old age,
but educate their children to intelligent
ly exercise the responsible duties of
American citizenship.
Our national experience at the end of
1861, when we found ourselves not only
unaided by foreign capital, but antagon-
lied by it in our direst need-when our
domestic so-called capital at the north
east, with its mighty specie basis, utter
ly collapsed, convinced me that such
capital (so-called) whether at home or
abroad in fact the accumulated
money resources of the planet was in so
great an emergency, as weak as baby,
as cowardly as rabbit, and as treason
able as an Arnold or an Iscariot.
And then, when I saw that grand mir
acle, equal to the gushing of the waters
when touched by the staff of Moses,
which. by the convertible greenbacks,
evoked order from chaos, industry from
lethargy, victory from defeat, and final
ly reconstructed our dilapldated nation
from almost utter disintegration, the fact
flashed on my mind that our economists
had taught US that money power was
but where vacuum prevailed. and care
fully diverted our attention from the
source whence proceeds every dollar of
accumulated wealth-the creative
power of the people
Then came the problem, no " shall we
utilize this almost almighty factor in
peace as we did in war?
At the threshold l was met with the
aphorism that the green back was CT eat
ed by the exgencies of war, and cOnse-
quently, the exigency having departed,
no apology remained for its continued
existence
But it really did seem to me that the
exigcncies OF peace were entitled to
some consideration, and if the argument
held good against the greenback it could
be maintained with equal force in favor
of the re establishment of negro slavery.
which was abolished tor that sole reason
-to-wite exigency oil war.
If one was temporary expedient only
justified by pressing necessities, the 9TH
er was equally so.
Did not this one mighty mattcr-the
need OF stopping the fallacies from those
ancient sophistries which have in the
past held our producers in stronger
chains to the vassalage of parasites than
the negro ever was 10 the white, SO
hold entire possession of my soul, |
would be happy to discuss the point you
so politely suggest, but must tor the
present call it, as our French friends
would say. a deferred satisfaction.
WHAT Is THE REASON
That the New York Tribune. alter more
than twenty years publishing weekly
statement showing the relative cond-
ton OF the New York banks for each
week OF the previous year has Just now
discontinued the practice? Earlier than
1857 | was accustomed to examine that
table. as showing the tendency to con-
traction and expansiOn-;he amount of
specie reserves, ETC.. ETC., and have con-
tinued the practice spasmodically ever
| since
Last week | wanted to refer to it, and
-lo for the first time for 20 years 1t was
missing!
Why | wanted to examine it was this !:
had long talk with IN eminent bank
er. who entirely agrees with US as to the
present crisis, and was much impressed
with his remarks, which were substan-
TIA ~ as lOlloWS:
AN EXPERIENCED BANKER'S VIEWS.
The talk about educating the masses
is good and amiable enough in the abb
stract, but the country can't do it,
''All this agitation as to political action
is also we'll enough, but It's mighty slow,
and when 1t is done what assurance have
you that the new party will not as
promptly sell out its constituents As the
old parties have SO uniformly done.
You mark my words-if you like to,
take out your memorandum aud pencil
and note it downfall /, - presiden,
of - National Bank. did. on this -
day OF December. 1875. say thus:
The social scientists and the polti
ciaEs omit two great factors in theil
teachings-to- wit:
LIST. God Almighty.
ID. The Sheriff.
t You and | (poor fools) thought th,
| country had gone to the devil when W,
were licked at Bull Run. but if we ha,
been the top dog in that fight. the Who'll,
thing would have been compromised
. and slavery would have been eternal.
, 80 here and now-scarcely one OF Il
.e'' 0oAi NTH. Jul WOuit
gladly compromise on making the inter
est payable in gold. which would leav.
Just enough of the old virus in the sys
: TEN to upset every equity. and perpetu
+ ate the fever and ague of finance which
has hitherto paralyzed our productiv,
energies. which require steadiness ant
serenity for their development
NOW FOR FIGURES.
The savings banks depositors hole
claims for nearly $9O0,00O, 900.
After deducting bank reserves ane
present boarding. not over half tha
amount of greenbacks and Nationa
bank notes is available.
When those depositors appreciate
two facts. which they will do within :
year. and at the same time realize tina
all the money OF the nation is enough te
pay them but 80 cents on the dollar
they would make one rush and onl,
one and the currency of the natior
will he transferred to sho;- h.oo1l -