The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-02-10

things promise good trade for Philadelphia
and Chicago, but it Is to be doubted whethe,
they will do much toward reviving trade and
industry throughout the country at large.
The industrial interests Of Pennsylvania and
New York and the whole OF New England are
il very unfavorable condition. The decline
of real estate has unsettled the foundation o.
the whole savings bank interests in New York
and New England. OF the 500, OOO, OOo o'
savings deposits in New York, New Jersey ard
New England, nearly one-half is either loaned
on or invested in real estste If savings d.
posts should continue TO increase there is nc
probability OF danger from these large real Is
tate investments; but, IN the present unprofta-
Die condition Of the manufacturing interests in
New England, It is doubtful if these savings
will increase. The mill owners and operative.
are getting more aud more antagonistic, and
the disposition to strike is becoming every
Where more apparent How is this unfavola-
Die aspect Of things to be mended? "Oh," said
one capitalist to us, 1--WE must return to specie
payments! Then every body will have fconf
d-nce III the money, because a dollar wi
mean real dollar, and no; a deprecated piec.
OF paper" Yes, increase the value OF al TIE
deots ten or fifteen per cent. ard it will cause
thousands or failures at once, and will precipi-
tate 50 much property on the market tha.
there W III be decline OF twenty to twenty five
PR cent. IN the value of all commodities con-
1t.-0u II. .iis tou4AtI auO tIS luTtHer SHllllk-
age OF values OF property will cause thousands
more failures, and SO the process would go o..
until all the property i'll the country had been
handed over 10 !the money lending capitalists
who were out of debt when the process began,
and 10 this moneyed aristocracy the great mass
0! the mercantile and manufacturing commu-
nity would be obliged TO come, penniless and
hat IL hand, begging the loan of little capital
to begin lite anew, at the bottom of tie ladder
fnor fox layu
got % living too high. Everybody is too eX-
travagant, they must come down! That will
set everything right, even without specie pay
ments. Just suppose 6,0OO, 900 families in tue
United States should save $50 "a year in their
expenses, tina. would be 10000, OUC in one
year" But who is to feel the effect of this
s400, 900, 900 Of decreased expenditure Will
il not be felt by the local trades everywhere in
the United StatesY And is it not merely taking
out OF one poc,>etto pu. into anothers And SO
the question still is What are We going to dc
about il!
A Providence. Rhode Island. banker.
OF twenty years experience. writes to {,
western friend:
have never seen before, in my twenty yea, $
experience in this city, any time when every
kind OF business looked so blue as at the preseL.
time. | cannot help feeling that unless .
change for the better takes place soon, general
bankruptcy will Ne the result. The cotton and
WOODEN interests STAPLES of Rhode Island,
are in very depressed condition. My opinion
is there will be as good All opportunity to pur
chase real estate in Providence as in Chicago OF
ST. Louis, if these times hold
The saddest part OF this whole sad
business is the apparent utter indiffer-
ence of the people. They not only re-
fuse to investigate the financial situation,
but they repeat the parrot. cries Of the
money-lerders about gold and silver
worlds currency" rag money" "rag-
babies" &c. and sustain at the ballo,
box the worthless party which has sold
itself out to the capitalists, and is crush
ing the life OUT of the trade and com.
merce OF this country