The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-09-14
Imperfect PAGE

witt, the most extraordinary and nnpre-
| cedented of al complaints--opeT-pr oaac~
tson.i-who had so much to eat.t0 drink,
and to wear. that they were upon the
verge of open rebellion against the con
! stitutional manifestation sheer ex-
cess OF the fatness OF the land, the people
of the British Island threatened 70 de-
,trov their government! surely an nm
paralleled thing in the history o. nauons.
Shakespeare says Hamlet was sent INTO
EngIand. because all the English pelng
eputed to be insane, an insane Irince
was not likely TO be al OBJECT OF sDeclai
notice among them and lncoliesli9iy
| q nation must be insane that grows re
/ oeIlious because Of the presence oi loo
much wheat and corn, beet ana bacon,
butter and cheese beer and gin, cotton
land wool. Well. to meet this most re-
lnarEaole and Abnormal state OF affairs,
! tie Parliament made the necessary new
laws: they were known IS The Six
/ Acts and were denounced BY the larger
! part Of the people - Wlcheaiy Cypress
/ i've and unconstitutional Lord Campbell
said uf them that they were tile last Fio~
! lation OF the constitution Of tie kla9aom.
! The Six Acts conferred nHw and ex-
trene powers ap0n the government:
they authorized aroitfs Try arrests and
unusual punishments. the suppression q
public meetings. lie search ~ private
houses and seizures q private papers,
and the lettering Of the pe9lle press.
Tire old spirit OF liberty seems to have
departed, SAYS Charles knight, com
, faendng upon these statues And all
iais INSTRUMENTATION and iasurrectianary
Shirt on tho cart oI the people ,aAG eAhl
bleon 81 military power anu EVIL repras-
sion 0u the part OF the authorities, were
ia consequence at 8tef- p70aNe1s2R. OF
100 much to eat, to driak and t. wear! Of
eranaries fun ol corn. 81 store houses
j fi!lao to replation VITA taarics, otiadnstry
100 active, I'll commerce toe 9alaIul.
The doctrine of over production was Of
course the invention ot the po!Itlc:fi
econ omlsts, alG WAS lot warranted elthsT
by tacts or common sense, any more than
{ Il now warranted il explanation 81 the
distress prevailing IN these United states.
/ Ii was q very convenient phrase, now
ever, aud extremely satisfactory t. the
i effice holders boadholders. spectators,
ana the political economists themselves.
Now what did the English paper gain
! by way OF compensation Tor the losses
and suffering Of the resumption pefioL9
Freedom from any OF the monetary evils
they had suffered during the period q
suspensiona No, not one. Did they
escape fluctuations in prices? foreNpe-
riencc proved. and Lord ogerstone, Inc
sternest and most implacable Of bullion
~ r,r,.- pfr
1 school OF British conomists-admltted g,
wien directly questioned upon the point,
| that lie could detect no difference be-
tween the fluctuations which took place
during the suspension and the nuctua-
lions which took place alter resumption
had been accomplished. (IfartS on
.ifetaltc and Piper Currency, p. At J
Did they escape speculation and over
trading9 No. For experience proved,
and Lord 0yerstnne frankly admitted,
taat under the most restrictive system
OF convertible notes possible1to be esta9'
tlished. commercial speculation had been
to the most extravagant lengths. fI1m
page 26l.) Did they escape panics2 10.
For experience proved, AMI Lord over
stone and Mr.. locke both admitted, Whai
Indeed they could rot truthiliiy aeny
that the commercial Commissions aad.i
the convertible system were - great Il
nor even greater than under the convert
f5le svstemt Lord Oserslonet i9ta., p
I.s.3.saId that storms and tenpests ar
moi more certain ami inevitable n the
material world than are the per1olleai
commissions oI commercial. Affairs. am
sf,a,b answer. lie moreover declared
similarly usefi1i purposes Nj locke
after e yerv careful review history 9
prfres. VOL. Il. d. 1917 said decidedly
what susceptibility II great expansion
oi credit and consequent liability y col
34nse ara taes peculiar II Q lncoavertlDl'
state al tue currency that. IT point 9
fact, experience both IL Great briliai
: and il Continental Europe shows ihat
. great abase 0i credit aas n1t been peca
lar to an inronrertl1te currency; an
= declared. moreover. Introduction I
seirvqtsas4s ef fts 9tFtf n ten fatrren
s5F that commercial CONFUSION, undp
! fIle eonTeTt.b.e system .-haa aeen -
ais exact wo1s!sJ asnre sarakaag aAa ae
! .-eet81e' than under aa iacolyertloi
: sss.esn. Iaese are the deliberate 40
/ missions of tne two most alclcniai IN
: English authorize. upon neney--tl
: aaiers. respectively III tae cnTrenc
Z and banking. schools d economists
. apon this great and ritaf subject II nai
/ then. did the English people gain b
way OF result and compensation TOR II
s enormous losses aud suffering endure
: by them during the transition Perio
i from IN inconve-Eble to conysTtf0l