The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-08-16
Non interest bearing
5,8S7
33,O92,6l6
1924 8,5O3
154,299, 1856
$2,O7O,358,617
2,783,425,879

Debt at MAY /. 1877 s2,o7o, 1856, 617
Debt at July Z, 1866 2,783, AGE, 1873
Reduction since July |, 1856,
10 1012years) 7l3,O67 ,2o2
Since the close Of the war, OF from
July /, 1865, to April /, 1877, eleven
and three-fourth years, the interest
on the public debt was ST. 49,. O57 .567.
or s$l21 900, 200 per anuum!
The universal cry over the land is
for employment. When we'll employ
ed, the people are well clothed, well
fed, and we'll housed. The adjust
ment of the fiscal question-not for one
class, but for the masses-must be
made ere prosperity is ours. The re-
call from Europe of our gold bonds
(by sale of commodities, placing them
at low INTEREST," and substituting
greenbacks for national bank-notes,
would remove grievious burdens, pro-
viding employment by stimulating our
depressed industries.
Will president Hayes inaugurate
this just policy, insuring general pros.
perity and spontaneous presumption
or the par Of paper with gold?
| The national relief from the enSlaVe-
ment of debt, with it's burdens OF tax
alton, is the substitution OF greenbacks
for national bank-notes.
! The national banks have received
since 1866 twenty-one millions OF dol
lars interest on bonds deposited with
the government for providing the IN
habitants of the United States with a
uniform national currency! Surely
the people. and the people only, have
a natural right to all the advantages,
emolument or income that may lnure
from the issue of either ST. 900 bonds
with interest. or SO notes without,
based on the faith and credit OF the
nation!
ssThis principle, simple, clear. and
undefinable, ought to be recognized as
fundamental, and the only safe and
proper basis on which may securely
rest all the circulating medium of the
country, for the sole benefit OF all the
Ipeople, and, not, as now, for the profit
of a class Of stockholders, however
deserving they may be in all other re-
spects.
TO carry into effect this principle
to substitute United States notes
for bank-notes- away. as soon as
practicable. and forever, all circula
!, ton from banks.
They would do strictly legitimate
business as banks Of discount and de
post; knowing that whatever leads tt
the prosperity of the whole PEG
pie must be beneficial to the banks
but leaving the right where it belongs
to the United States government, t.
supply the whole circulating medium
Of the country.
In this connection. we must remem
Der that banks are the creatures o
law. The law which created then
NAV. by virtue of rights reserved, b
! amended, altered, or repealed.
To those who are disposed to complai
of the change as hardship, one
tempted to ask what natural right
I dozen stockholders have to receiv
notes from the government to circl
late. than any other dozen men do nc
possess!
! One thing is certain that the nation;
! debt can never be paid by govern
. mental policy that shrinks the cul
d rency, destroys values, paralyze
n industry. enforces idleness, and bring
{, wretchedness and ruin to the home
Il of millions Of the American people
1t is equally true that Americans ca
e never buy anything cheap from fol
eign countries that must be bougf
q at the expense of leaving our ow
y goods and raw materials unused. an
( our own labor unemployed. It shout
= be remembered that neither gold. 81
e yer, copper. nickle nor paper are mol
5 ey without the stamp of goyernmer
:, upon it. The constitution has made
the duty of congress to coin the none
q Of our country and regulate the Walt
y thereof, and fix standard of weigh
u and measures. as the only possib
u means by which commerce can be re
y ulated between forein nations ar
among the several states.
n t PETER COOPER