The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-09-13
REPLY THE P!ONEER.PRESS
THE CURRENCY QUESTION.
ELK RIVER Aug. 25th. II.

ELK RIVER Aug. 25th. -.
Editor Anti- Monopolist:
In an editorial of the p. P. on what
he is pleased to call .Pendletonism,
| find the following:
And when he proposes as remedy
for the present business and industrial
depression, the repeal of the resump-
ton act, the restoration of the old sill
yer dollar, the retention of green
| backs, the cessation of their contrac-
ton, land finally, the issue ofall circula-
ting medium by the government, max
ing it all a legal tender, and the paper
and the coin interconvertible at par,
and calls this a staple currency. a sound
currency and a safe currency, it is i'm
possible not to be lost in admiration Of
Of the cleverness of Gentlemen George
as the prince fooler Of fools. Now it is
just as certain. just as much a demon
strated fact of universal experience.
that d coin currency cannot circulate
side by side with an irredeemable le
gal tender paper currency as that oil
and water won It mix
In reply would ask if it is not a fact,
that the worst paper currency any
people ever had, except perhaps, the
continental currency Of the American
revolution, was that with which the
country was cursed and abundantly
supplied. before the war! And yet.
/ it circulated side by side with silver
and gold, the latter being only worth
IA OF per cent. more than the miser-
able wild cat currency which the
greenbacks supplanted. What posi-
bic value has one promise of the gov
eminent more than another! Both
havea common security resting on the
faith of the government. 1t is not
disputed that the greenbacks. the twin
birth Of the $40 S were of equal value,
were interconvertible. and if congress
had not destroyed Msir power to pay
the public debt, must to the great adj
vantage of the oppressed people of the
country remained so. Is it seriously
pretended that greenDacks issued di-
rectly by the United States govern
ment, and made legal tender for all
debts. public and private. without eX-
ception, would not pass side by
side with gold, and be uniformally
preferred. Except by gold gamblers!
Let those who hold u contrary view,
inform us how gold, of which there is
not, and never will be, one-fifth of the
amount in the United States necessary
+ to do our business, be considered a ba-
sisl If the currency is 10 suffer con
traction until gold will take care of it
$50 millions will represent it, add l5(
millions the amount of gold. and yol
have 500 millions of money all told tt
transact the business Of the country
but if their policy should succeed il
destroying the business of the countr,
for the ensuing year, as for the past
it is little matter what sort of curren
rercy we have, or how little. / coult
, name one or two men who could bu,
: it all up and stow it away.
When Grant became President. on
9 prosperity was IneXampled in the his
tory Of civilized nations. agriculture
/ commerce, every kind of industry, il
GLIDING literature and the arts, wer
being cultivated to the utmost accom-
a plishment of the most refined civiliZa
f ton. money was plenty, labor wa
e employed and we'll paid We were
; prosperous and happy people. Wi
. ness the painful contrast to-day ever
Y material interest is utterly prostrat
!, at the feet of the money power. gel
eral bankruptcy and common rui
staring us in the face. and worst of al
Il the helpless labor, the source of Il
+ wealth, starving and begging ft
! bread. and what is to compensate fl
: all this untold present and future su
d fering! What is the promise. VIII,
that in 1879 they will have reduce
u the currency of the country 50 10
: that $50 millions of gold will take Cal
If of it. so low that2 or3 Wall st. sharl
g will be able to hold every dollar of
II This is not fancy, but the sternest {
h facts. L. 7. G..
Our Radical Correspondent Presents Sor
ot Very Radical Vews.-Civil War as
a Purifier Of Society.
(, SPRING VALLEY, Fillmore Co..
vi Mimi, Aug. -. 1877. y
te Editor 4nti- poiisf:
at Since | last troubled you and yo
ny readers. many important events ha
w.. J taken place in Europe and America
he In Europe. the Russian Bear
-al crossed the Danube, and is pushi
his way towards Constantinople. NJ
IS he get there. He is coarse, ug
iO- ar,,al animal b,,1 =