The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-11-22
dDKOH JOSEPH.

Our friend Wheelock. of the Pioneer
Press, is certainly an adroit contro-
versialist.
Last week we referred to the fact
that he had been quoting, during the
canvass. with great flourish of
trumpetS. an ancient utterance of
ours, to the effect that the discount
on greenbacks was tax levied on the
farmers. And we proceeded to show,
as fuller information had satisfied us,
that SO far was this from being the
fact that the said discount was bene-
fit the farmers; and we quoted an ex-
tract from the Indianapolis Sun
which demonstrated that the cheaper
the greenbacks the more debts the
farmer could pay with them; where
upon we called upon the p. p. to an
swer and disprove this argument.
What does brother Wheelock dol
Does he attempt to disprove this posi-
tionl Not bit of it. Does he ad-
NIT he was wrong in leading his
readers to accept the contrary doc
trine! Not a bit of it. What does he
do?
He admits the truth of our present
position, and adroitly shifts his line of
argument onto new ground. He says,
| in effect-true it is that the discount
on greenbacks is an advantage to the
farmer, but it is dishonest of him to
take the benefit of the right the law
gives him to pay his debts in green
backs.
Hear him:
1.-THE proposition of the above ex-
tract. which DOnnelly considers un-
answerable, is that greenbacks are
rdiuable to the farmer in proportian
to the decrease oftheir purchasing g
potoer. In other words, they are val
liable in proportion to the diminution
of their value. To illustrate the the
ory is that greenback worth so cents
on the dollar is twice as valuable as a
greenback worth 100 cents on dollar;
q greenback worth 10 cents on the
ldOllar is five times as valuable as a
|greenback worth so cents on the dol
lar; a greenback worth one cent on the
dollar is worth ten times as much as
one worth only ten cents, and hun.
dred Tins as much greenback worth
a hundred cents. 1t follows from
this theory that if greenback il
worth nothing at all it's value is inf
nite.'
Precisely; if the debtor community
could pay their debts with paper mon
ey worth nothing they would soon be
out of debt. Is that not trues
He proceeds
"Undoubtedly if dishonest debto
wished to cheat his creditors, it woul.
be very convenient for him to do s.
by means of deprecated greenbacks
and il the only use he had for green
backs was to pay his debts, he woul,
: make money in proportion to thei
depreciation
Here Joseph admits our whole al
; gument, but raises the moral question
of honesty. Let US look at that.
! If the mOney-lender had a right +
: lend the farmer greenbacks wort
forty cents on the dollar secured by
: mortgage on his farm, and takes hi
: pay, a few years thereafter, in greer
backs worth ninety seven cents o.
the dollar, or in gold worth still more
! has not the debtor the same right t
= avail himself of the advantages whic
the law gives himl Joseph think
5 that it is honest to land depreciate
!. paper but dishonest to pan debts wit
y it. He holds that what is sauce TO
! the creditor goose is not sauce for tn
: debtor gander. The supreme couT
has decided that greenbacks are leg;
4 tender for all debts; but Joseph think
: it is great piece of dishonesty for
: man indebt to pay his debt with then