The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-12-13
mae Anti-AGonopolist.

their questions we answer as tlMe
and the pressure on our regular uu-
ties permit. The following let5ei'
which explains itself, contains ques-
ton:
WHAT Is MONEY!
Editor Irish World: -.
S1R:-Advocating the principles OF the
Greenback party, and endeavorlng to 90 TUG
best we can to promote the cause, we come "
YOU with question which we are unable 70
answer We have a hard money man. IN our
clutches and have partly converted MIN 10
Greenbackism. But he is a little obstinate,
more so than others we have converted, anu
he says if the following question is answered
| to his satisfaction he will become one OF US.
He says that if he has gold dollar he always
has the VALUE of dollar, no matter what
| turns up. In 1854 Russia repudiated her
debt, and those that held government paper
| lost heavily, while those that held gold ana
silver HAD THE VALUE OF THE COIN. NOW, IN
case the United States should accept the
Greenback !as standard money and repp
dtate her debt, would not the holder OF the
Greenback be the loser!
| We told him that the question could be an
swered, and that there were provisions mace
| for the above, but we were unable TO answer
it, not being sufficiently posted on the Green-
back question. Please inform us also now
we can thoroughly post ourselves on the
question, as we intend to start Ureennack
club and promote the cause all we possibly
can. Respectfully,
Baltimore, Md.
HE says if he has gold dollar he
always has the value OF the dollar no
matter what turns up" Not SO. Cold
is a commodity, just as lead, iron,
copper, and wheat are commodities.
It has three values-intrinsic. COM
mercial. and legal. Its intrinsic val
ne consists in it's positive use-lts IN
herent worth to man, independent al
together of all artificial enhancements.
Its commercial value depends upon It's
EMPLOYMENT in works of ornamental
ton. It's legal value is derived from
the Government stamp put upon 1t,
which stamp makes it mOney-makes
it "dollar.' Now, if the United
States should tomorrow demonetize
gold the legal value of this commodl'
ty would be utterly destroyed, and It's
commercial value, too, would I'M
mensely depreciate in consequence
It would be no longer dollar. coo
is demonetized in some countries. LII
, some countries silver is demonetlzed
In the United States if you owe 9
man hundred dollars and offer hin
: that sum in silver he may reject nine
{ tyfve parts of it and compel youiby law
, to paw him nine-ive dollars in gold OF
greenbacks. Both gold and silver
may yet be entirely demonetlzed. Ii
that event bits Of paper bearing the
Government stamp will be the only
lawful tender in payment OF debts
In that event, too, the little piece O
yellow metal now called dollar woul(
5 not have 'sthe value Of the dollar NJ
7 matter what turned up.
e Now we come to paper money
! What we want in that way is abso
Lutte money. The greenback is no
. such. The greenback has done grea
s and immortal service for this coun
s try; when gold failed in the hour o
: peril it made it's appearance IN tn
. field and brought the nation trlum
" phantly through a fonr years ensar
guined struggle. 1t visited ever
r manufacturing town and village an
It started the forces of industry in me
y ton. And now, every year, 1t save
= to the people twenty millions OF do
o lars-which twenty millions yea
If the industry of the nation mnst sac
e die on top Of the two thousand millio
20 national debt if Sherman and tn
- Bond Lords are allowed to have the
way burning up the greenback an
ID substituting Understanding bonds
IL their place. This is what the gree
g back has done. Yet, technically,
- is illogical. The greenback is leg
- tender for debt and yet its face sa
it is but "a promise to pay deb
ne We want no promises. The pap
" money the Irish World contends I
=. should read: