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

h y
power OF paper money. It was no small
achievement to have produced so vaila~
bic 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 ot the advantages Of q 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 or own government during the
late war It required but for q few
months to e1hausf the loaning 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 einbaVrissmeats.
ending in paralysis Of the national ener-
gies, stagnation Of resources, and inabil-
ity to feed, eiothe. arm, and pay armies.
But when gold and silver ceased to be
any longer available, Congress author
ized the issue oi treasury notes. made q
legal tender. That act seemed TO speak
tue words oil enchantment. The country
sprang into prosperity IN the midst OF a
stupendoas war. Every man who desired
to work found d purchaser for MS labor.
Every man who had labors products 70
sell obtained a ready market Every
man who had 4 house to rent secured
tenant. Cash payments more aud more
did away with applications for credit.
HostiiltIes were prosecuted with the Ut
most vigor. Nothing was lacking that
soldiers needed, for slstenance, for
clothing. Tor medicines, tor hospital ac-
com0daiions, toa armament. No such q
scene ot rapid development OF national
strength and Of national development
had ever before been witnessed in the
worlds history. NJ. Carey thus draws,
with q mastery hand, the outlines OF the
occasion.
Let Us, Tor 3 moment, suppose the
existence Of an individual win wealth
- great that all who knew nm might
have entire confidence in the perform
ance OF what he promised Lei is then
suppose that he should have said to the
laborers OF the country, ITO into the
mills, and | viii see that your wages
arc paid 10 the rillers. Employ these
people, and | Will aee taat your cloth Is
sold 10 the tanners, tive Jour food to
the laborer and yonf wool to the inillers
and viii SEE that your bills are at once
! discharged ! . the shopkeepers, Give
your coffee ard ro1r sugar to the farmer
and | Will see that payment shall togta-
with be made to the city traders, Jill
j the orders OF me ti.iag re shopheepers
and send your bills TO me for payment !;
to the Il lords. Lease your houses and
look 70 1 Tor the rent: % all i have
opened & ariag house tor the whole
country, and have done 80 with a view
/ TO enable every man to find on the in
] slant cash demand Tor MS labor and
/ It's products and ny whole fortune mas
+ been pledged Tor the performance Of nv
+ engagements and then let us examine
into the effects. At once the SECRETARY
circulation would have beer restored.
Labor would have come into demand, bhus
doubling At once tle productive power
oil the country. Food would have oeen
demanded. and the farmer would have
been enabled To improve his machinery
OF cultivation. Glosh would have been
! sold, and the spinner wonid have added
10 the number of his spindles. Coal and
iron would have iuuniinc.sased demand
ana mires and furnaces would nave
grown IL numbers ana size House.
becoming more productive, new ones
would have been built The paralysi.
would have passed away, life. activity
and energy having taken it, place, AL
these wonderful effects having resulted
/ from the simple pieaEe 9t the one sui