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

WHOLE NO. g..
uy it as he would buy bullion or Chinese
cash." IF Frank was in England he
ould sell greenbacks in the same way,
It 81 cts. on the dollar. IF the green
,acks now worth 81 cts. were made in
erchangeable, as the Independents pro>
lose. with.a bond worth par, the grss1r
packs would at once be worth par, and
hen Frank could sell greenhack in
London toras much as he could sell 3
bank OF England note in Litchfeld.
The faith Of the nation, Donnelly says. is
pledged for the redemption Of the greenbacks;
but faith without works, is very much like
little value. We. in this part Of the United
States. hare fAith not only i'll the stability Of
the government but also iN the redemption of
these promises to pay, and therefore take them
at their par value; but across the water they
are not current-they are bought and sold as
other articles OF merchandise are.
A,sswe1 If the iaith and creditof the
nation makes 6 per ct. currency bond,
tina: is 10 say a bond payable IN green
backs,-worth 126, on 26 per. ct. prem
ium, why not bring greenbacks up to the
same value by interchanging them for
similar bondsi If England takes. those
bonds at IL pr. ct. premium over gold
would she not buy and sell our green
backs at the same price, if they could be
fuaded at par into those bondsP Now
the money-lender. gets the ..cream" in
the shape Of gold or gold bonds, while
the soldier, the penisioner, the contractor
and the officers and employees Of the
government, have to satisfy their crav-
ings on the thinnist kind OF ..skim.m
Why should we have two kindsef nation
al currency, of different values. for two
different classes OF our own peoplep Have
we an arist0cracy and commonaltyp
Greenbacks are not money and even were
they made receivable for duties ON imp0sts,
fatal defect would still exist-thS absence Of .
clause in the law auth0rising their issue. pro-
viding for their redemption, would be bar to
exchange.
A'aswcr True; but we propose to
remedy this evil by redeenling them in .
3.65 or 4-per-cent. bond.
A man may give his note in payment of =
debt contracted, but the note must bo made
payable at date therein namedor it is worth
less, be the drawer ever so responsible. Where
in lies the difference between nation and the
individual under tho same circumstances Do
they NOT, both Of them come under the same
general memorable financial lAw which rules
thes eswOrldf
AnsWcr: The difference consists in the
!, 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
y greenbacks, should be the first to want
! to trample them into the mud. II it waa
= i just the thing TO save the nation from
) dissolution why not bold on to it to save
& the nation from universal bankruptcy?
.t Butsupposs the government 50 t. its green
lc back mill 70 work and grinds out its promise
q 10 pay by the hundred million, how will thl
. general public be the better for 1T By whs
e legitimate channel will they dow into ssnsra
2 circulatiOnf
I. Ansoer: We do not propose 70 set |
ID greenback mill 1t work to Issue an un
& limited amount Of greenbacks. but il "
= did the nation could pass out hundred
y - Of millions annually for the expenses O
10 government. to congressman, TO pension
rs ers, to the army and navy, to the. India
lis contractors. 70 the postal department
%, etc. Every national bank. note tina
ne came into it, hands could be, ty Law
=. - cancelled, and greenback issued in Il
- place, and the national bonds pledged f.
= the bank notes cancelled pro rata.
70 To-day Meeker county i II. excellent dna,
ne cial condition, and whyi Because il canradee
r. Il. il own promises 2 pay in current funds,
pc There II no enduring financial safety
10 Y, from the firm foundation Of : specie basis.
his Answer: II there is mo endurir
N, safety of from the firm foundation Of
-, y. specie basis" how did. Meeker Coun
~. ..r attain an ssexcellent financial condition
with scurrent funds?'
- The truth is, Frank, the only use
d, money is to pay debts; and that whit
80 pays debts whether it be gold, silve
copper. brass. nickel, lead, leather
paper is to that extent money.
How did Meeker county bring its {
ders up to pare Was i By dishonoril
- them, and refusing 70 receive them
nal payment Of debts due the 70. ~ the Vi
Ior, ted States refuses 70 receive greenbac
mt in payment Tor Duties on imports? n
ben the Co. orders were taken In payne
md tor taxes; the taxes eat up ths Orde
ms. and tor those purposes they were wol
his as much ~ money.
Rnt suppose Meeker CO. owned 500
nj Of floating orders and SO, 900 Of 12 p
i alct. bonds. Suppose the orders VI
here worth 81 cts. and the bonds worth
~ premium Of Is per Ct. would i not
80 good policy 70 issue new bonds I
1h;ch he orders Would b fundable