The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-09-20

the means used by the strikers and
their supporters, who can say that
such movements, Of which this was
but the beginning, are not the natural
results of the insane legislation in
augurated by Hugh McCulloch when
secretary of the treasury-legislatlon
pretending to be for the interests OF
the country, but which has depressed,
or put down every industry in the
United States.
1t is not wonderful that one Of these
industries rebelled, but that they have
not all rebelled is indeed wonderful.
The present and past distress OF
these industries is alone sufficient to
account for snch course, while their
cruel prospect in the future is ten
times worse.
Under our legislation, as it at
present stands, there is no certainty
or even hope Of any circulating
money at all in the country in the
near future!
No government can pay its notes in
specie, and according to Secretary
sherman's late speech, the greenback
must be founded to prevent the bank
ruptcy of the government, while the
banks with their enormous deposits
must, in self-preservatlon, reduce
their circulation to little or nothing
when they come to go through the
face of promising to pay their deposits
and circulation in gold, which does
not exist and cannot be had.
Such is our sad condition to-day.
- fnr
God only knows.
In reading Sherman S recent speech
it is impossible to overlook the fact
that the power and interests which he
represents, and which have been so
far successfulin inaugurating and car
rving out their scheme may be able to
succeed.
The secretary is bold in their defence
and confident in their triumph.
If congress at it's next session,
does not hasten to undo the unWise
and disastrous legislation of the last
twelve years; if it does not chain
John sherman in his mad career, and
disarm him of his power ard weapons
of destruction, the result Will be ter
rible indeed.
Not only every industry will be
ruined and the nation bankrupted, but
| the country will be plunged into "a
condition of riot and anarchy, which.
in it's poverty and weakness, may
drive it to seek safety and
relief under the strong arm of foreign
powers.
We would not excite undue alarm,
but the signs of the times certainly
portend evil.
The causes which have produced
the present condition of things, if
persisted in, must inevitably intensity
the evil results.
These causes are
First-The depriving the great
industries of the country and the
labor element of two-thirds of their
| life-blood. the circulating medium,
and the congestion of the balance into
| the great money centres, virtually
| taking it all out of circulation. because
the shrinking values of all kinds Of
property forbade money to risk an
investment.
| Second-Resumpti which, if car
ried out, must limit all exchanges to
the old system of barter, and degrade
humanity to Il condition of the bar
barism of the dark ages.
Let us then. during the present
general breaking up of old political
parties. lay aside all minor issues and
unite and re-organiZe on the financial
reform platform. which underlies all
others. and in comparison to which all
other issues sink into insignificance.
Pomeroy's Democrat.