The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-11-08
WHEN WILL THE GOOD TIMES
GOMEZ


WHEN WILL THE GOOD TIMES
COME!
When the masses of the people are
out Of debt, and have money in their
pockets representing the net surplus
earning, then there will be perma-
nent revival of business and prosperi-
ty and not before. The disappearance
OF the preminm on gold will not bring
good times. Instead of paying debts I
such event will increase the burden of
debts and taxes.
Before the people can have surplus
money in their pockets they must earn
it,1and be allowed to keep it and use it
after they do earn it. The following
measures are necessary to perma-
nent revival of business and industry:
First, repeal the Resumption Act
which seeks to accomplish an impossi-
BILE and unnecessary thing, and stop
contraction. The threat of resump-
tion and the consequent contraction
OF prices, prevents the investment Of
what little money there is the enter
prises that would employ the labor of
the country, and add to the general
wealth and ability to pay debts.
Second, substitute full legal tender
government paper money for national
bank notes, thus securing better pa
per money, and at the same cancelling
800 millions Of the bonded debt and
saving, in interest upon such bonds
alone. about Is millions of dollars a
year.
Third, pay off in greenbacks such
bonds rs were by the original contract
made payable in greenbacks, and thus
save an additional 80 millions of inter-
est annually.
Fourth, rcmOnetiZe silver and issue
full legal tender government paper
money to buy silver bullion, coin the
bullion on government account, and
| pag off with it such bonds rs are pay
able in coin and subject TO .call, and
purchase and cancel such bonds as :a3e
not subject to call.
| Fifth, issue 500 millions OF two per
cent. interconvertible lawful moEey
bonds in small denominations in which
the working people may invest their
savings, which will thus absorb the
surplus money, not needed for legiti-
mate business, prevent fluctuations in
\ prices and put the funds of the poor
where christian saving bank preSi-
dents cannot steal them.
If these propositions look too for
midable and imply great undertak-
ing, it is only because we have done 80
much and gone so far in the wrong di-
rection. Buff we don't do this, what
will he do! 1t is do or die. To cajolo
oneself with the blind belief that good
times will come, debts be paid, indus
try revived, and the people made hap
py by some mysterious and occult pro-
esss known only to select few
professional financiers. is to believe q
lie. The recent report of the silver
commission estimates the total indebt-
edness of this country at about 3d.
J OOO, 100000 thirteen thOnand millions
Of lollars). This is more than one
half the present cash price Of all the
property real and personal in the Uni-
ted States. Think of that will yOu!
, One third of the working people OF
this country, by whose muscle and
) energy these debts are to be paid, il
. ever, are either idle or working on
J half time and little or no wages.
Think of that! The annual intereston
that indebtedness is estimated to be
B about 81 900, ,OOO, 900 Zone thousand
0 millions of dollars; or as much as the
. earnings Of three millions OF men, the
= = year round at dollar day. Think
! Of that, too! That is only the annual
0 interest burden to say nothing Of the
Q additional labor necessary to pay the
' ' principal. And do not forget that
4 the so-called resumption of specie pay
0 ments will not pay single fartliifg
0 OF this indebtedness. nor reduce its
' burden by single feathers weight,
4 but on the contrary add immeastirably
to that burden.
O. There isno comfort in the reflection
{ that we have had hard times in this
country before and survived them.
The debts are the great obstacles at
present. There were hard times in
164O and 81 and at other times; but
[ then there was little or no debt nor
4 taxes. There were no railroad dobo1
then. There was but little govern
mont debt then. There were no mu-
2 lnfcipal Ddebts then, and taxes were
hardly felt. It is not 20 now.