The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-02-17
The Anti-M0noPolist.

5overned by the amount Of money or
currency in circulation, but exclusively
by the supply and demand Of the COM
modities
Look at the following experience in
California:
When gold was first discovered in
California SO many settlers vent there
that the supply OF commodities did not
meet the demand, and prices rose high.
Then our Atlantic merchants sent large
supplies to San Francisco. and soon the
greatness of the supply reduced the
prices to figures less than cost, even
below those ruling in the Atlantic mar
kets, although the people OF California
were full of gold.
Look at another experience:
The people OF Boston issue and circu-
late, roportionately to their population,
at least four times rs much currency as
the people of Philadelphia yet that
does not increase the price of commodi
ties in Boston. The only effect that the
comparatively greater amount of cur
rency has in Boston is increase Of
business facilities, and consequently
increase of general prosperity.
If the government Of the q. S. would
issue treasury nstes. receivable for all
dues to the treasury. inclusive Of
customs. (not promissory greenback. as
at present. to the full amount Of our
public debt, this would not affect the
price OF one pound OF beef, coffee or
bread but would give such facilities to
business Of every kind, Gas the clearing
houses DO in great money centres.) viz:
rs to enable all people to make quick
Exchanges OF their commodities, and
lquick or daily settlements. Indeed, a
good sound currency, such as only a
government can properly issue, serves
tor the people the purpose as clearing
house does tor banks or bankers. And
why should the people not make for
themselves the same facilities, especially
when by doing SO they can make the
profit of the interest OF the facilities,
which otherwise must be paid to the
bondholders, or is enjoyed by banks. as
far Us they are authorized to issue
currency?
An abundance OF sound currency is
for the business OF the country financial
lly what steam power and railroads are
PAN SlN1liV AJul tslJSC SiCdt
ments of our age were. at first, not a lit
tie opposed and detided by our patients
prototypes. | heard some ridiculous
deposition speeches, and some still more
ridiculous remarks. by men with a
squint in their reason. at the time when
Morse tested his invention of the tele-
graph III the basement OF the capitol at
Washington, in 1872
II the introduction OF Morse's inven-
ton had depended on our patients, poor
Morse and all his friends would have
been buried as electrical intiationists !"
When Morse applied the physical law
discovered by OerstedD that .'the mag
netlc action OF soft iron is regulated by
the galvanic current OF surrounding
coil OF wire." our squirting friends
would have read thus: The mag.
netic action of iron is regulated be the
quantity OF iron" And they would have
called every one an Eclectic inflationist. y
who gainsaid that.
And does this modification Of the telc-
graph law not sound as wise and pro-
found as the version OF the commercial
law protested by our patients? II after
the Introduction OF the telegraph. some
body had cut the wires leading from
Washington to New York. and attached
them to his own battery. and had then
given all sorts OF false communications
TO New York. what then would our
patients have saido "Behold that falsa
initiation telegraph! Shame upon our
country for having introduced i,!- Just
exactly rs our friends see the ''falseness
J and shameful imitation OF our currency.
because our government committed the
blunder OF not making it receivable for
custom duties. but demanded god.
which was thereby made commodity
and rs such WAS Dough. and sold al
prices regul ted by supply and demand
{ The dealers in gold have no other use
| tor it thar to keep it for the wants
(demands) Of Tue importers. and they
mus. charge . premium tor i. because
otherwise they would lose their interest,
, expenses and trouble incurred in keep
ing gold on hand Tor sale.) Now
instead OF correcting the mistake of our
government and causing i. to issue ~
adequate supply Of sensible currency
viz not prunissorv notes like the
greeubacks. bat treasury notes receiva.
bic for Ill dues to the government
including customs. they CRY down the
greatest and most efficient lever o
business ever invented. and. while
stupidity imagining tina; thereby they
will be delivered OF the supposed vile
rag money of their own government,
they deliver themselves up. head and
feet, to the rag money OF Incorporated
monopolies. or banks. Tor paper curren-
cy we must have. and will have, and no
sensible person expects anything else.
. because ali the gold in the world would
not suffice to DO hall the business Of shi:
one countrv.
Again | say. make our squirting
patients ence see straight. that any
abundance Of money. or currency doe:
not initiate the prices of commodities. but
facilitates every kind OF business. and
!. the prosperity OF the country. and al
will be right, or otherwise. continuance
of seN-dessruetions W. $.
Dsu5's liss-Strangs Story Of a Hcma,