The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-06-07
WONDERFUL IF TRUE.

There are indications that Hayes is
coming over upon the Greenback plat
form. We find the following in the
Washington correspondence of the
Chicago Times:
ssThere are some indications that
the financial question is to be entirely
rediscussed, and more carefully than
ever before. It is noteworthy fact
that heretofore discussion has been
mainly on issues made by infiationists,
and that the hard-mOney men have
been compelled to work with all their
might to combat the heresy that an
irredeemable paper currency is good
enough for the people OF the United
States, and that specie resumption is
humbug. 1t has been assumed by
hard-money men generally that sooner
or later greenbacks were to be got
rid of, and that the government must
not 90 permanently into the business
of supplying circulating medium.
There is new party Of financial men
organizing here who argue that this
is a violent presumption. They say
that all the talk hitherto has been
concerning the methods by which the
government shall resume specie pay
ment. but that no steps have been
taken to secure resumption by the
banks. They say that resumption ~
the banks would not necessarily fol-
low the government. 1t is claimed
that it would be practically impossl-
BILE to invent any system by which
the banks themselves, standing alone,
could maintain specie payments. 1t
is proposed, therefore, that the gov
eminent shall adopt policy looking
to the gradual withdrawal Of all cir
culation from national banks, leaving
to them simply their regular banking
business that national bank notes
shall be replaced by greenbacks, and
that the currency shall be kept at its
present bulk. 1t is proposed, in order
to regulate the amount OF currency,
| to issue an interconvertlble bond
e bearing interest at the rate of 65-lO(
2 per cent, and that the government
set apart the legal-tenders received
for the resumption fund. 1t is claimed
: that by this means the currency would
e be self-regulating, and that by keep
8 ing fifty millions Of gold at it's com
8 mand, the government could always
: maintain specie payments. The ad
> vocates Of this scheme are enthusiasts
Y tic about it. The attention Of Score
r tary Sherman has been called to 1T
and he is interesting himself in it,
: details
el HAYES is in-e.rtremis. His attemp
: to revive the defunct Wing party is;
fizzle so is the effort to form a CO
!. alition with the Democrats Of tn
9 South. The real party-men Of tn
= = Republican organization perceive tina
d if his policy is persisted in s'Othello'
= occupation is gone.'' No republical
e party in the South means no repub
Q lican party in power at Washington,-
d it means, in short, the death Of tn
y party. The special session of Congress
/. was postponed until October to de1a
:, the inevitable explosion. 1t woul
is not therefore be strange if Haye
I, threw himself into the hands OF tn
Greenback men Of the West, and re
= versed the whole, financial policy Q
n the administration. Stranger thing
) have happened.
Ne The pressure Of poverty and dlstres
s. :, is daily increasing, and the people ar
y gradually realizing the fact that thei
Id terrible sufferings are simply the pei
Mt atty for cruel destructive financi;
= policy, conceived by knaves and ex
ID cuted by fools.
ae The dawn is not far distant.