The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-06-14

whether our currency has not had |
something to do with this prosperity; |
whether we, or any other nation, I'M
der circumstances half SO trying, with
a1ditferent currency, ever accomplish
ed a 1.-THE of what we have; and wheth-
er we are true to ourselves Or our his
tory if, without word of challenge,
we allow currency which has been
so potential for good to be stigmatiZed
and ostraciZed, tried, found guilty,
and condemned. without even benefit
Of clergy.
And keeping these things in mind,
Mr.. President, there is in this connec-
ton a grand fact [ will not permit our
friends to lose sight of, and that is, the
people are satisfied with the currency.
Remembering, as has been often said
| in this debate, that this is the peoples
government, this fact is most import
ant, | don't care where you go; in the
| Green Mountains Of Vermont, along
the lakes and on the prairies Of Wis
pie of the Empire state-east, west,
north and south-everywhere, they
never had currency which was so
uniformly acceptable. We never gave
the people circulating medium in
which they had such unlimited conf
dence. 1t is alike good and current
everywhere. It has been Seaside
from those who did not or have not
now faith in the government-from
the time these legal tenders were is
sued, and this faith has increased and
is becoming stronger and stronger ev-
cry day. This, l repeat, l count a
great fact in the inquiry; for upon this
faith and confidence rests largely the
value of any currency, and it is most
unwise to ignore it in settling the
problem before us. But gold is the
currency of the world; the faith of
the nation is pledged to pay coin for
these notes. Y ears have elapsed and
this pledge is not met. We stand
guilty of bad faith and are dishOnored
in the eyes of the civilized world, and
until we make them equal with gold
we are in the attitude of trader with
his paper gone to protest. All this
and more is said by contractionists and
substitutionists. Let us see. What
were the circumstances under which
these legal tenders were issued! We
are not standing now upon a techni-
cality-upOn the letter of the contract
but looking at the facts, at the his
tory. at those things which every per-
son knew, and upon which all, the ma
ton and citizens, persons at home and
abroad, acted, and from these we are
to inquire what duty and honesty de-
mand.
And now does not every one know
that these notes were issued to meet
an absolute pressing necessity III oul
struggle! They were Unnecessary con
venience and convenient necessity
. They were, technically, as much and
as absolutely dishonored one week
after their issue as they have been
since or are now. If due in the com
mercial sense, then they were due
! presently, or at their date, and every
hour thereafter they were dishonored
} Is any one prepared to pass a Judge
ment so harsh, SO severe, so at wal
with essential factst Is the nation
which accomplished SO much;which III
der circumstances unparalleled in the
history of nations has met it's enormous
interest lien, and is gradually reducing
the principal--l say, is such nation
to be adjudged guilty of bad faith anC
liable, if possible, to proceedings il
bankruptcy because it fails prompt,
to pay gold for these notes, one kind o
, legal tender for another! Does an,
: man. at home or abroad, believe i
, was ever '.sonominated in the bond;
or if so nominated by the letter. tina
! this was it's spirit or that it was eve
. so meant or understood! Then. too
: these notes are made legal tender
AS such they have as much paying va
I he and are made equal with gold. L
: make good every dollar thus inscribe
: every particle of the property of thi
: vast country, public and private.
e pledged. both now and for all comm
= time. If this country is to be mair
Y tanned. then we know that for all tn
purposes for which we use money i
@ our internal trade these notes are a
!: good as they can be made. Then. too
+ admitting that they are to be redeem
|: ed in coin. deny that the nation ha
d acted in bad faith. We have not d
e verified dollar which should hav
l. gone to their redemption to any Othe
IS purpose. We have not added to tn
IS volume one dollar in violation of OF
r. agreement. We have husbanded OF
l. resources with fair economy; receive
. these notes for all the purposes col
5 templated by the laws of their creation
Ie Day after day they have gradually a
le preciated or Appropriated the social
n ed gold standard.
5 But still it is said these notes al
Ell as good as gold; that they must |
1t made such and that by law. 1t is sal
N of a Boston merchant. who alwa,
v took business view of things. tn;
h he felicitously remarked of a certai
10 poetic impracticable that he was OF
rs of those men who have soarings aft,
Il: the infinite and divings after the II
es fashionable. but who never pays cas-
Of And so our friends say. 1t is trl
V: that these notes will pay next to &
he debts; they are most acceptable to I'll
ne people: but they will not bring gold
er They admit the currency has stot
s. the storm better than any we ha'
nv ever had in severe panic; but 1t
$0-