The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-09-13
EXTRACTS FROM EWINC's SPEECH

The great Money Power-the worst
legacy Of the war-intend, by this
scheme Of forced resumption, to make
gold the sole measure and payer OF
debts, public and private; to increase
the bonded debt by funding the green
backs: to concentrate in a few great
hanks in the money centres, absolute
control over the volume and move
ments Of the currency, so as TO MAKE
hard times and good times at tneli
pleasure. and fatten on the unwary
multitude at every turn of the tlde'to
contract the currency Tor the neAO
few wears to the smallest pOSSlDle
measure, so that the Sl2,Voo'oou,ooo
the people now owe, Will Dus @17'
600 900. 900 or 1886 ,OO0, O0O,OOOln former
values of the peoples labor ana pro.
ducts; to crush out the myriad OF
smaller industries heretofore success
fully maintained by combining the
energy and talent OF men or small
means with money borrowed OF non
producers; to contiScate the real prop
erty of debtors, and bring it into fewer
and stronger hands; to pauperlze labor
so that the Money Power will enslave
and own, and use it, with no further
cost, than enough wages to keep the
machine Of the laborer's body in good
working order; and finally, by means
of the great concentration OF wealth
and power in the hands of few, to
realize the policy of the early Federal
lists, which is stronger since the war
than ever before OF making TINS
government a strong, centralized
aristocracy.
BRITISH AND AMERICAN RESI- MPT1oN
COMPARED.
Whoever hugs the hope that we can
PASS through the furnace or forced
resumption, and fare no worse than
ENGLAND did, is wonderfully mistaken.
We are incomparably less prepared
for resumption than she was. The
Daper money to which her business
was adjusted, when her resumption
law passed, was but $3.50 900, 900; ours
S766.OOO, 900. The premium on gold IN
England then was l-2 per cent; with
us it was Sper cent. Her debt was
all held at home; half of ours is held
abroad. All the world paid tribute to
her manufactures and her commerce;
we pay an annual tribute to foreign
shipping, to foreign workshops, to
foreign bondholders, and to foreign
shows, equal in the aggregate to one
fourth of the net annual increase or our
wealth. She was as rich in gold and
silver as was ancient Tyre--''by the
reason of the multitude of the wares OF
her maling;' we have next to none
of the precious metals. Ricards as
sured her business men as MI. Sher
man assured us, that the gold premium
which was but 3 ID per cent. would bt
the measure of the contraction or the
paper currency and reduction OF values
caused by resumption. \ ct, to reacl
resumption, her currency was contrac
ted over 40 per cent. business credit:
81 per cent. and every value on the
island. whether Of land labor or pro
duct. was reduced in price about one
half. If our resumption has, in fact
caused the ? - per cent. reduction OF
cold. it has also caused Il reduction b.
cancellation and by boarding OF Il
least a third of our paper currency
and shrinkage of from % to 80 pc
cent i'm the value of land, labor an
products. How much greater redu(
ton in currency andin all values ma
we expect to overcome the remalnln
two-thirds of the gold premium
we were as we'll prepared Tor resuml
ton us England was, we might lear
from the pages of Allison, Doubleda,
Marineau, and other chronlclers
that most calamitous period Of BIRTHS
history what to expect. But III OF
state of utter unpreparedness we ca
ONLY know that the self-lntilcte
calamities will be unreasonable.
A WORD OF WARNING.
The moneyed men, who are drlVll
this car of Juggernant over the Peep
seem struck with judicial blindnes
They hold $3.000,00O, 900 or $4,000
100000 of our national, state. count
and city securities--all dependent
the will and the resources of the pc
ple. Wenow pay. and for long tin
have paid about O.OOO.O00. We;
in taxef. That is ST. 50 for each ma
woman and child in the United Stat
nearly twice as much as is paid
any other nation. The British p
Sli.O9 per head in taxes; the Frene
Sll.4l; the Germans, 1921; the Al
TRANS. 30. 1t is perfectly obN
Gus that our people cannot bear tn
great burden unless general prospe,
ty he soon restored. But ii our lndl
tries are to be still further crlppl
and destroyed-if past accumulate
must be eaten up in enforced idlent
If men must be driven to "borr'
money for the Kings tribute on thu
lands and their vineyards, and Sc
their sons and daughters to
servants" a large part OF these o.
dens will be violently cast oil. 4
if that unhappy day should come, tn
remember Messers. Bondholdersa
gold resumptionists, that 1T was ye
arrogance and greed which LED
reputation, just as the pride or
slave power abolished slavery.
GREENBACKs AND BONDS.
The $40 bonds were by law of tn
issue. payable in greenbacks. TIL
can be no question of that fl
Thadeus Stevens asserted it wi
the law passed. The Republican C