The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-08-30

ting to many millions more than the
total production at any one time, the
people have learned one valuable les
son, viz: on the first symptom of the
next panic, before it runs the nation
into bankruptcy and the labor element
into tramps, start the mob to bowling
burn, slash, and destroy the excess;
contract the products of labor to
s.healthy standard.
Clean the stores and warehouses OF
their excess of goods and rip the
wheels, belts and machinery from the
factories.
Bring business down to hard pan.
Let manufacturers exhibit nothing
but pig-iron at their expositionS, ana
farmers carry boulders instead OF
wheat to the county fairs.
Was it over-prOduction OF locomo-
tives and rolling stock that compelled
the railroad companies to starye their
men, and drive the latter to strike!
Was it too much Of anything IN
Pittsburg and Chicago that instigated
the riots!
If so, Pittsburgh and the Pennsyl-
vania Railroad Company at least ought
to be thankful, and il they don t
prosper right away. let another riot
restore the excess to a healthy stan
dard as soon as possible.
Bah
..Over-production'' is the most
senSeleSs, unmeanlng and puerlle
excuse for the hard times that men OF
ordinary intelligence ever put forth,
and it is as false as it is ridiculous.
Who ever heard of a farmer failing
because he had too bountiful crop!
Or dairyman because he had too
much butter and cheese in store!
Or manufacturer because he had
too large a stock of manufactured
goods in his warehouse!
Ora banker because he had too much
gold, silver or greenbacks on hand
Just the reverse is the fact.
In 1865 the country had plenty OF
money to keep labor fully employed.
and when fully employed, consump-
ton equalled production.
The labor, production and consump-
ton of the country was based upon
the volume of money, and the value
of investments. and property, was
regulated by it.
Within seven years time, from 1866
to 1873. not only tWo-thirds OF our
money had been destroyed, but the
remainder had to be spread over twice
the territory. and among double the
number of people by the closing otthe
war.
This caused values to shrink away
from owners. leaving them stranded
upon the shoals of bankruptcy, and
turned labor into the streets to tramp
for bread.
The vast and increasing public debt
drained all the profits OF industry
from those who were able to stem the
tide. and one by one they, too. have
yielded to the pressure until now the
number of wrecks have swollen to
over $4,000!
Then came the accused Resump-
ton Act. which has ever since; its
passage, hung like a flaming sword
over the gates Of business, threaten
inc ruin and humiliation to every
man who risked dollar in shrinking
values.
The bond interest.suckers have alb
sorbed all the money left in the coun-
try. and no man dare borrow. tor
everv dollar invested before 1879 will
he like throwing a lineless hook into
the sea for fish.
Not satisfied with this, and to rem
der the people hopelessly bankrupt
and enslaved, they coddled with the
robbers of European labor and deprlv
| ed us of one-half of our resources fol
paving our interest tax. by demonetl
zing silver.
Destroy every product of labor OF
earth. let absolute deStitution take
the place of assumed over production
and times will still be harder unde,
our present finance laws.
No power under heaven. no change
in the quantity or quality OF on
productions can bring confidence an'
prosperity as long rs values ar
shrinking, with a prospect OF thel
continuing to do SO.
And values will continue to shrln
with the shrinkage of the volume Q
money in circulation: and one halt
the present amount must dlsappea
with the redemption and retiring 0
the greenbacks in 1879.
When this takes place. the nationa
currency will follow Immediately, If
does not proceed it; for then. bein
redeemable in gold. with not enoug
in the country to pay the interest W
owe to foreign bondholders, it Wi
have no base. and will become wortl
less.
No-as has been said. there is a
reproduction n of nothing bu
''fools and rascals. and as far as the
are concerned. your man who preache
reproduction as the cause of har
!, times is correct-Pomeroy's Democra
THE CAUSE OF THE TROUBLE.