The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-11-22

water in the pond is to low to ru
the mill. Mr.. Howe notices that tn
mill has stopped-and hence tn
marvellous therefore. The pond i
not low it is the mill that has stopped
that's the trouble. The boiler is no
out Of steam. the train has stopped
The man has not been out Of food hi
is only dead, that's all !?
The cause is not the trouble. it i.
only the consequence that ails thu
country If the Senator is ignorant
he is a sinner in being ignorant a
this hour of the fact that suspension
of business and bank failures have
continued in a wonderful close ratio
to the contraction of the currency
commenced in 1857 and 1868. Has he
ears that cannot hear the crash OF
banks throughout the land making an
annual ruin Of seven or eight thousand.
Does he not know why railroad
constructions stopped, why the north
Pacific was stopped, why it's projectors
escaped ruin, only by retreat!
''The national banks have retained
money" and why! Because the bor-
rover cannot borrow when the money
OF the country is not sufficiently
distributed to make his returns
certain. The money that isis in few
hands. These will loan if you will
imperil all your real estate at rates
which are impracticable, and our we'll
known purpose of retiring money is
to place property at the disposal Of
eve can make money ourselves"
he says, ''if we have coin or green
backs to guarantee redemption
l suppose he knows that coin just
now, means gold. and that there is in
all about 800, O0O, 900, of in the United
States. The greenbacks are supposed
~ be on the way home to die, and that
,he last will reach the treasury store
about a. ID. 1879.
Does the Senator seriously say that
20 replace the present bonded debt
# the United States legal tender cur
'ency, will give us less than $500, OOO,-
100 Of paper currency even with the
provision of retiring some surplus
unds in the form or sleeping notes
or time.
The greenback system does not live
II die on the question of interconver-
ion. But Mr.. Howe does not damage
hat accompaniment. 1t would be no
lew thing for capitalists to retire
money to favor themselves. Have
hey not done this often. Ifthey had
ot the Senator would not have
bought of the possibility.
But with volume of sixteen or |
ighteen hundred million Of money
moEg the people the effect of con-
ertion by the comparatively few in
crested in mischief, would be life a
ucket full of water from a lake. At
resent few men can strangle bust
ess, because they have their hands
the throat of it, they have too
rye proportion of our money. 1t
nos probable that any larger num-
ar OF capitalitalists would be induced
invest at three and half per cent.
ut II that interest should appear on
ial to be too strong an inducement
retire what money could be more
mple than to vary the percentage.
extend the time so as to render the
stem self-adjusting.
''Specie resumption not possible,
lder such system.
Does the Senator know of any sys-
m under which it would be possiblel
Such talk just now. is the talk of
p Van Wrinkle. No one ever in
lligently expected return to spe- !
ca show of return to satisfy ma
IN of children. that is all that can ]
pretended. Haven't we PLAYED
at little farce long enough! No.
r. Howe, that is not contemplated:
ur guess is correct. We do not !
oppose to ever place sixteen hun
eel millions Of lawful paper of the !
llted States, in the fools retort and
tire decade Of years from all pros
rity just to have starvation medi-
he dance around a little idol mon-
n gold and silver, somewhat larger
an .Aaron's Calf Calf worship to
superseded.
IN Colorado we bore miles of TIM Z
IS and shafts through granite and
artz rock. with paper dollars. ALL
care for redemption is to allow
'se dollars live and move and have
'ir being where they are needed to
the work of dollars. The people
~ n 0wA L