The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-05-11

each for these one hundred thousand
| dollars He looks it over and SAYS: Il
cannot do that '.Why,7 says I, you
did tor me last year. ''Oh yes, | did
something OF that kind for you last year.
but you had the green backs pure and
simple, no mixture; this is {. mixed
article; we don't take in that kind OF
mixture here We will assert it for you
and take in what belongs to US. WHAT
shall do with the black-backs Ma
tional bank notes There is redemp-
ton bureau in Washington; you have to
send them down By express and they
will send you back green backs for them.
Well, yes. Now, the further I live off
from the bureau, the more it costs me- in
money and in time Because New York
| is the great financial center; the law is
made to suit New York not Minnesota .
Do you see the pointe The center OF re-
demption is away il corner of the
country. It is worse for those people
that live far away. It takes more time
and express charges to send your Ma
tional Bank notes to Washington for re
demption than it does if you had tu>
rueau in each one OF the sixteen cities,
| the way it was originally arranged in
| the national banking system-Milwau-
kee, St. Louis and so on That was
amendedin favor of the East.
1--WE DON'T LIKE THIS ACTIVE REDEMP-
TON"
say the National banks.
1.-The green.backs used 70 be the same
as national bank notes, and now the
government is making them intercon-
vertible with three per cent. certificates.
don't like it, Because it makes them
worth more than the national bank note,
| and the nationa. bank notes are not con-
yertibe. and SO We have to redeem them
we have to keep large line of green
backs at Washington all the while.
Then they begin to think why would it
not be- good plan for Us to use those
365 bonds What is the use Of our keep
ing bonds. What is the use of our
keeping bonds to secure circulating notes
all the time, while we can sell our bonds
at a premium While the law permits
it, send the notes down as fast as they
come into Washington and when they
get to the redemption agent turn them
right into the departing ut aud have them
turn out bond; and il they turn out a
bond tell them to burn up the notes.
You burn green-backs now; then you
will burn bank notes, and we will re-
duce our circulation. Oh, yes; here is
the new law:
V. Permit any national bank (without
necessarily reducing its capital. or sur
rendering any of its franchises) to re-
duce its circulation and withdraw its Sc
curities prorata. until its circulation
shall. not exceed five thousand dollars
/ 100000.
Any national bank may reduce its
| circulation without abandoning any OF
its franchises until it shall not exceed
5000" and now we will get al our
bonds from Washington. but five thous-
and dollars we will retire all our circuia-
ton but five thousand dollars. and we
will use the interconvertible bond and
not be bothered any more with that re-
dempton business, because actually the
circulation don't pay Us much. To be
honest the circulation of national banks
when you come t. make the greenbach
convertible into three per cent. certlfi-
Gates won't pay. Start lively redemptions
on them scattered, IS they are. al over
the United States Il won's pay them
much.
| But wait and ret the greeabacks out
OF the way establish the FAC. that the PEG,
| pie OF this eou-try have already pro
nouneed what kind Of money we are 60
| ing TO have in the iuture-that Is quo
tatioa. recollect it. Establish that tact,
/ and when we have cot the greenUaeks
out OF the way, and when We have got
I rps nj th.. hat We al
! respectable class OF citizens who al the
time own aud control, for the most part
| the national banas. who. when the gov
eminent wanted everything and did no,
| know where to sell their bonds and
| when those
I FOREIGN CAPITALISTS TURNED THE COLD
SHOULDER
and said they did no, know how that
cat was going TO jump said in taeir
patriotism, in this town. perhaps. and in
| other towns all over the country, I'VE
will put in our meas. aud we will Guy
| government bonds aad We will start q
! national bank here When the
whiskey ring class ge.s these men out
/ OF the way that are stockholders to-day.
| in the national oaaA system. and waen
they get in class o. men tina. kao \ how
to start bank Of 4 million capital with
out 4 cent, then taey will amend the
law SO that it wi.. pay 10 aAye 5 circula-
ton. Ii the people OF this country
haven't any better sense than TO lesevery-
thing 90 By the board. and TO allow them
selves to De handled by the whiskey ring
class. who wi! get hold OF the na;ioaa!
bank franchises. VINO vii. traffic 10 YOUR
financial atmosphere. as your city com
pany does here with is gas. If this hap
pens. the greenbacks wil. a. be burned
and all the the circulating medium will
be furnished in the shape CT national
bank notes. which viii soon become
ike Illinois and Wisconsin ..stumpsails
currency. Applause
THE QUESTION Is NOT BETWEEN GOLD
AND PAPER CuRRENCY
I: is between paper currency issued
directly by the peoples agen. and made
redeemable in government bonds. and a
manor enrrpncv iSSued by class and