The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-11-08

one thousand millions OF dollars to
her conqueror, in gold. In her de.
spending condition, in her hour OF
need what was the policy Of France!
Did she contract her currency! Did
she reduce the volume Of her money!
Far from it she largely increased the |
currency, she more than doubled her
volume of money. In the language OF
the London Times, she s'in]ected
currency into all the avenues bust
ness with the force of an hydraulic
RAM" thus terminating her PROSTATE
industries and stimulating every de-
partment of business. All her labor
ers found employment. France
became one great workshop. In less
than two years she was able to pay
her large indemnity to Prussia. She
has entirely recovered from the effects
Of the war and is to-day the most
prosperous nation upon the globe.
France was governed by statesmen
who were aiming to promote the well
fare OF their country, not plunderers
seeking to enrich themselves by the
ruin of their commonwealth. AT
whose demand and in whose interest
was this strange policy pursued by
our government! 1t was at the de-
mand and in the interest Of the mon
led power for the purpose Of increasing
the power of money. 1t was done to
raise the rates of interest. to monop-
oliZe the currency, to make corners
on money and to control the business
and labor of the country. The value
of money is measured by its purchas-
ing power, and the value Of any given
amount is in proportion to the whole
amount in circulation. If the amount
is large it's power is less, if the
amount is small it's power is greater
for instance-suppose the whole
amount in circulation is a thousand
millions, and suppose one man owns a
million, it is thus clear that he owns
the thousandth part of the business
and labor of the country. But now
suppose the currency is reduced to
FIVE hundred millions, he will now own
the five hundredth part, his relative
wealth being precisely doubled. He
can now control twice the amount of
business and labor of the country that
he could when the currency was a
thousand millions, he will own only
the two thousandth part, or one
fourth the wealth that he possessed
when the currency was five hundred
millions.
Thus, my rellow citizens, it is clear,
that in proportion as you diminish
the volume of currency, you increase
the power of money in the hands OF
the capitalists, and as you increase
| the currency you diminish that power
} and this is the reason why men whose
| wealth is in money are SO anxious fol
4 a reduction of the currency land spend
2 so much money to have contraction
E laws enacted by Congress. But what
3 is the effect of this policy upon Labor
4 and upon the man in dabt! Suppose
a when the currency is two Thousand
i millions, you contract a debt; say, fol
t instance. you purchase a horse fol
5 two hundred dollars; with this vol
J. ume of money labor will be two dol
|. lars per day-if the same volume i
e maintained when the debt become
e due-you can discharge it with on
l. hundred days work. But, in tn
e meantime,if by turn of the contrac
i. ton screw the currency is reduced t.
d one thousand millions, with this re
IS duction labor will corresponding fal
r to a dollar per day. 1t will now tax
J. two hundred days labor to discharg
1t the debt. Suppose by further turn
It the amount of money is reduced t
4 five hundred millions, labor now b
If fifty cents per dap. So you readil
d see that in this condition of affairs
e will require four hundred days wor
" to discharge the debt, and therefor
f. the debt will be increased four FOLD
rs This is precisely the condition of tn
le country to-day. Debts were contrac
= ed on a currency of two thousan
m million and are required to be pal
I'd with currency of seven hundre
to million.
c. We have, here, the true secret {
w that struggle which is going on
is this country between capital an
er labor. When labor understands tn
ld process as well as capital understand
~ it, the struggle will soon cease. @
ld the other hand are few capitalist
q, seeking to control the labor and pro
lie erty of the country who are interes
e: ed in it's general prosperity. Tn
eel capitalists know that if the current
as is increased, that money will
he plenty, interest low. labor abundan
ne prices will rise, wages will be higl
) wealth will become diffused ar
op prosperity become universal, ar
OF that his power will be diminishe
r. but if the currency is contracted I'll
1t opposite will occur, and he will
IS master of the situation. On the OF
ld er hand, the industrial classes a
'e- everywhere awakening to the tru
OF that if the currency is increased
Id sufficient volume that it will set q.
er motion all the wheels of bushes
IN thrill every nerve of the industri
ad system and send the vital currel
OF through all the veins and arteries
IT. trade, industry will have its opport
a nifty and labor its reward. The pro
4 poets of the business -man will /
Id cheered with the hope.of success. Al
N. the arm of the laborer 'nerved wi
'es hope of gain. But on the contrar
90 that contraction means hard time
tie money scarce. money depressed, ira,
- =