The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-11-08
UHEt WILL THE GOOD TIMES
GOMEZ


COME?
hen the masses of the people are
out of debt, and have money in their
pockets representing the net surplus
earning, then there will be perma-
nent revival of business and prosperi-
ty and not before. The disappearance
Of the premium on gold will not bring
good times. Instead of paying debts
such event will increase the burden of
debts and taxes.
Before the people can have surplus
money in their pockets they must earn
it.land be allowed to keep it and use it
after they do earn it. The following
measures are necessary to a perma-
nent revival of business and industry:
First, repeal the Resumption Act
which seeks to accomplish an impossi-
bic and unnecessary thing, and stop
contraction. The threat of resump-
ton and the consequent contraction
OF prices, prevents the investment of
what little money there is the enter
prises that would employ the labor of
the country. and add to the general
wealth and ability to pay debts.
Second. substitute full legal tender
government paper money for national
bank notes, thus securing better pa
per money, and at the same cancelling
300 millions Of the bonded debt and
saving, IN interest upon such bonds
alone. about Is millions Of dollars u
year.
1Hird, pay off in greenbacks such
bonds rs were by the original contract
made payable in greenbacks, and thus
save an additional 80 millions of inter-
est annually.
Fonrth rcmonetize silver and issue
full legal tender government paper
money to buy silver bullion. coin the
| bullion on government account, and
| pa4 off with it such bonds as are pay
| able in coin and subject 10 call, and
purchase and cancel such bonds rs a.e
not subject to call.
| Fifth, issue 500 millions OF two per
cent. interconvertible lawful moEey
bonds in small denominations in which
the working people may invest their
savings, which will thus absorb the
surplus money, not needed for legiti-
mate business, prevent fluctuations in
! prices and put the funds of the poor
where christian saving bank presi-
dents cannot steal them.
II these propositions look too for
midable and imply great undertak-
ing, it is only because we have done 50
much and gone so far in the wrong di-
rection. Butt if we don't do this, what
will he do. 1t is do or die. To cajole
oneself with the blind belief that good
times will come, debts be paid, indus
try revived, and the people made hap
py by some mysterious and occult pro-
esss known only to select few
professional financiers. is to believe a
lie. The recent report of the silver
commission estimates the total indebt-
edness of this country at about 3d.
900 100000 (thirteen thouand millions
of .lOllars). This is more than one
half the present cash price of all the
property real and personal in the Uni
ted States. Think of that will yOu!
One third of the working people Of
,, this country, by whose muscle and
J energy these debts are to be paid. If
ever, are either idle or working on
, half time and little or no wages.
Think of that! The annual intereston
J that indebtedness is estimated to be
} about 81 OOO,OOO,00O zone thousand
millions Of dollars; or as much as the
} earnings of three millions Of men, the
|, | wear round at dollar day. Think
J of that, too! That is only the annual
. interest burden to say nothing Of the
, additional labor necessary to pay the
,, principal. And do not forget that
! the so-called resumption of specie pay
0 ments will not pay a single farthing
0 of this Indebtedness. nor reduce it's
. burden by single feathers weight,
\ but on the contrary add UNNECESSARILY
: to that burden.
0 There isnO comfort in the reflection
t that we have had hard times in this
country before and survived them.
The debts are the great obstacles at
present. There were hard times in
8 164O and 81 and at other times; but
then there was little or no debt non
4 taxes. There were no railroad debit
then. There was but little govern
ment debt then. There were no mn.
9 nicipal odebts then, and taxes were
hardly felt. 1t is not 50 now.