The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-04-27
WHOLE NO. a..


cash" If Frank was in England he
ould sell greenbacks in the same way,
t 81 cts. on the dollar. If the green
acks now worth 81 cts. were made in
as the Independents pro-
ose. With . bond worth par. the gresn-
acks would at once be worth par, and
hen Frank could sell greenhack in
1ondon tor-as much as he could sell =
'ank OF England note in Litchhela.
The faith OF the nation, Donnelly says, is
pledged for the redemption OF the greenbacks;
,ut faith without works, is very much like
kim milk-the cream is not there, and is Of
title value. We. in this part Of the United
States, have faith not only in the stability Of.
he government tat also III the redemption of
hese promises to pay, and therefore take them
1t their par value; but across the water they
are not current-they are bought and sold as
other articles OF merchandise are.
AnsWe7. III the faith and creditDf the
nation makes per ct. currency bond,
tina: is 10 say a bond payable in green
backs,-worth 126, on rs per. ct. prem
ium, why not bring greenbacks up to the
same value by inlercharging them for
similar bonds? If England takes those
bonds at Is pr. ct. premium over gold
would she not buy and sell our green
backs at the same price, if they could be
tuaded at par into those bonds? Now
the money-lender gets the ..cream" in
the shape of gold or gold bonds. while
the soldier, the penisi0ner, the contractor
and the officers and employees OF the
government, have to satisfy their crav-
ings on the thinnist kind OF .skim- milk"
Why should we have two kindsOf nation
al currency, OF different values, for two
different classes OF our own people? Have
we an aristocracy and a commonalty?
Greenbacks are not money and even were
they made receivable for duties ON impoSts,
fatal defect would still exist-the absence of
clause in the law authorising their issue. pro-
vicng for their redemption, would be bar to
the universally Of heir use as a. medium of
exchange.
A,aswer True; but we propose to
remedy this evil by redeenling them in a
1865 or 4-per-cent. bond.
| A man may give his note in payment of q
| debt contracted, but the note must DO made
payable at . date therein named or it is worth
less, be the drawer ever so responsible. w here
in lies the difference between nation and the
individual under the same circumstances Do
| they not, both OF them come under the Same
general memorable financial Law which rules
| the: wOrldi
difference between an individual and
nation. The individual cannot compel
the people to accept his promises as le-
gal tender in payment OF debt; the ma
ton can. Why Frank, we carried on the
war and saved the nation under the
power common to all governments, by
the issue of these despised greenbacks.
, England suspended specie payments
and fought Napoleon for nearly twenty
. years with irredecmable Bank Of Eng
land notes The wonder is. that the
Republican party. which created the
+ greenbacks, should be the first to want
to trample them into the mud. II it was
. just the thing to save the nation from
= dissolution why not hold on to it to save
{ the nation from universal bankruptcy?
But suppose the government Sc Is its green
9 back mill TO work and grinds out its promises
= to pay by the hundred million, how will the
general public be the better for its By what
. legitimate channel will they dow into general
circulation
!. Aaswev: We do not propose to set q
d greenback mill at work to issue an I'm
+ limited amount Of greenbacks. but ii we
7 did tbs nation could pass out hundreds
y of millions annually Tor the expenses OF
- government. to congressman, to pension
y ers. to the army and navy, to the Indiaz
is contractors, to the postal department
0, etc. Every national bank note thai
,e came into its hands could be, ty law
= cancelled, and a greenback issued in it
a. place, and the national bonds pledged TO
: the bank notes cancelled pro rata.
70 To-day Meeker county is in excellent fnan
70 cial condition, and whyi Because it can redeer
I, its own promises 70 pay in current funds.
= There is no enduring financial satety 0
Z from the firm foundation Of a specie basis.
lis Answer: If there is mo endurin
n, safety off from the firm foundation Of
2, specie basis how did Meeker Count
~ attain an excellent financial condition
with "current funds?'
~ The truth is. Frank. the only use {
4, money is to pay debts and that whic
- pays debts whether it Ne gold, silve
copper. brass, nickel, lead. leather
paper is to that extent money
How did Meeker county bring its o
ders up to par? Was it by dishonorin
- them, and refusing 10 receive them
lal pa ment Of debts due the TO. as the I'm
DR., ted States refuses to receive greenbzct
int in payment tor Duties on imports. M
en the Co. orders were taken in paymel
nd tor taxes; the taxes eat up the order
rs. and tor those purposes they were wor
his as much as money
I1nt suppose Meeker Co. owned O.O'
not Of floating orders and $4,000 Of II Pc
/ ct. bonds. Suppose the orders we
ere worth 81 cts. and the bonds worth
III premium Of Is per ct. would it not
49,. good policy TO issue new bonds in
which the orders would be fundable
80. mar. and would not this make the orde
re worth at once 100 cts. On the dolla
,av And If not, why not2
~, We trust, Frank. you will study 81
uld further into this important question. u
nld revise your present conclusions