The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-06-28
The Anti-AGonopolist.

three millions of pounds of food for
the daily sustenance of it's fOrty-three
millions of people. If two thirds OF
this supply should be withdrawn, or
become exhausted, starvation and
death would follow. So if two-thirds
of the money required by the same
people to effect their domestic eX-
changes and to sustain their indus
tries, be withdrawn and destroyed,
why should not such policy similarly
| and in the same degree, effect the life
of these industries! 1t certainly does
with this Limitations: that credit has
to supply the place of money in the
circumscribed business of the country,
which is now confined almost exclu
sively to traffic in the necessaries OF
| life. Such is the condition of the
American people.
The decline in the market value of
the property of the people during the
last eight years cannot be less than
eight thousand millions. III the city
OF New York, the center of the money
supply, and where they have two or
three times more per capita, that the
country has at large, it is estimated
that real estate has deprecated in
value, during the last three years, five
hundred millions The individual
and national losses and destruction of
property incurred by our late civil
war do not approach in magnitude the
| loss of individual and national wealth
entailed upon the country by it's
financial policy since the close of that
war. Famine is certain to follow an
insufficient supply of food land decrease
in the value of property is just as
certain to follow an insufficient supply
of it's representative
| While one OF two hundred millions
of coin may have been a sufficient
basis for a sound system of bank
circulation, nOminally payable in coin
thirty OF forty years ago. it cannot be
assumed that double that amount is
to pay, either of the treasury depart
Ment or of the national banks. But
if it were, how much more purchasing
power would be attached to either by
the delusive provision that they are
''redeemable in COIN
Our domestic commerce requires
exchanges exceeding, in value, twelve
thousand millions year, nine-tenths
of which is effected by system of
credits which is gradually coming
down to simple barter of commodity
for commodity. This is not only
inconvenient, but clog on commerce
and antagonistic to the spirit of the
age which requires a sufficient medium
for making immediate exchanges. by
an ample supply of that medium.
Questions that come home to the
firesides of the people, and which
affects their material interests, require
brief discussion to prepare them for
revolution. They may submit to
political changes in the administra.
ton of governments with low muir.
murings of discomfort, and yet not
fOregO their party attachment, but
when the sacrifice of their earnings
of their toll to meet the exactions OF
government in the shape of taxes, or
to pay debts contracted when the
means of discharging them were four
or five times more abundant than now
it is presuming too far upon the for
bearance of the people-they will
under new organization, demand
the square issue to be made between
: national reputation or an ample sup
J ply of money.
History furnishes no parallel to the
Indifference with which the monetary
sutferings of the people of this countr.
have been met by the national govern
ment. and it may be safely affirmed
/ that the prosperity of no nation OF
earth has ever been SO retarded b,
| incompetent legislation upon the sud
. ject.
Il mOmentary system adapted t
the wants and habits of the Japanes
and Chinese is the system advocate,
by such quacks in political econom,
as McCullOch, and unfortunately TO
1 us. he has many willing followers i
! and out of Congress.
l 1t does not follow that because
g certain monetary system finds favo
with the crowned heads of Europe
J. that the same is adapted to the institr
I tions of Il later civilization. Why
it that we find fifty thousand unen
e ployed laborers in the great city Q
n New York-the commercial and MOI
eyed emporium of the country! Is
because the money which government
= vouchsafed to us will not compensat
g this labor or purshaSe the needed SUI
II port for these dependants!-or is
=. because this so-called .'irredeemable
4 money has become the scarcest an
1t most precious of earthly possessions
II The few who hold or can command i
Il see nothing in the future policy of til
Il government to encourage enterprise
:. that would give employment an
IL reward to willing labor and food
+ furnishing thousands Our cities an
towns are crowded with unwillin
paupers. England with her den:
! population, in the darkest hour ,
- forced resumption. furnished i
e parallel to the money famine of TIL
r. land.
If we are to be RENTED to I'll
u momentary systems of forgotten age
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