The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-08-02
ment does not go into effect until l8-


79-One year from next January. Ii
right to buy up greenbacks with gold
and lock them up (which he has not), |
it is clearly his duty to begin that
process of contraction at once, and |
while gold is at a premium. There |
are $5O,O00,OO0 now in the Treasury |
in gold, which might be used at
once to buy in $50, 100000, in green
backs. But this would not suit the
purposes of the eastern capitalists.
There is no money in that sort Of a
thing to them. Worse than that, they
would lose money by such an arrange
ment. For the moment it was real
lied that the government intended to
steadily put it's gold on the market
for the absorption of greenbacks, the
gold premium would drop to par and
these capitalists who own the gold
would lose lot Of money.
} Now they mean that the government
shall lose all this money instead; SO
the plan is for the secretary of the
, treasury to issue $50 100000 of the
4 l-2 per cent. bonds, and offer them in
l this country for gold!
? But why not in Europe, where they
2 could be sold at par and the gold
7 brought over!
: Because that would upset the plan of
: the ring again and make them lose
!. money by destroying the premium on
gold!
Observe, then, the conspiracy. The
q bonds are to be sold in this country for
: the best gold bid the secretary can get.
q What effect will that have on the
: gold premium! Fifty millions wanted!
Why the premium will advance at
once. 1t will hop from I, it's present
!. figure, to 10 very easily. Suppose.
y then, the best gold bid the secretary
f can get for this $50, 100000 IL per
: cents is so cents on the dollar! By the
:. terms of the scheme he is bound to take
;. it, and he probably would take it.
i Splendid The ring clear five mil
lions at one deal of the cards!
+ The next move of the ring will be to
q urge the secretary to put gold on the
:. market for greenbacks, to the extent
4 of say 100000, 900.
All! what is gold worth! Next to
!. nothing, depend upon it. The pouring
of such quantity of gold on to the
4 market has suddenly destroyed the
70 premium, depend upon it. This is
!. what the secretary and the country
p. will be told, and the chances are that
!. it will be true, so the Secretary will
=. pay out his gold and take in 800, 900,
If 600 in greenbacks to be locked up.
10 But suddenly up goes the gold pre-
MUM again! What is the matter now
,o Why gold is advancing because ther'
a. is none in the treasury. and govern
r ment must have another 800, 100000
O at once. Again the secretary offer
q 4 Upper cent. bonds for gold land again
-. the ring makes SIS ,0OO, 900 and perhap
al SIC, 100000 by the speculation. Nov
an notice the position of things: The rim
he have unloaded the present supply 0
N. gold upon the government; they hav
MI cleared l0per cent by doing it. Thei
an gold was earning them nothing, where
in as they have now good bonds earnin
TO- i 1-2 per cent. They have caused to b
ad locked up 800, 000,0 of greenback
~. and they make big money in this ope1
alton, besides|getting a good 43l-2 pc
is cent. bond which may be used as II;
at tiOnal bond reserves.
no This is the iniquity completely ST
re ted. 1t is desired by ring of capita
is lists that the present falsely maintai
ro ed premium on gold should not infli,
cd a loss on the owners of the gold, bl
ed on the government instead, and fu
IN Their that in the exchange of bonds fl
on gold and gold for greenbacks, the rir
# should make big thing. Furthe
an more that the currency should be c,
no down $500, 100000 by the locking I
rm of greenbacks.
his Congress needs to give it's earle
ret attention to this iniquity. 1t shou
very sharply inform Secretary She
to man that the country will stand +
no suchnonsense. Nogreenbacks can |
on. locked up except as provided for
ad law on the increase of national bar
or notes, and that below $500, OOO. 900 tt
mt greenback currency never should b
no reduced.
Ter Nobody Sc ems to know what has b
no come of Jay Cooke. He was last see