The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-08-02

organization In the south OF the only
party that can bring to that section a
true and lasting prosperity.
The Commercial agency of r. G.
Dunn & Co., of New York. are just
issuing their last quarterly report OF
the business outlook. 1t shows the
total failures in the United States and
Canada for the past six months were
$500, being a slight increase over the
number of failures during the cores
ponding period year ago, which, it
will be remembered, was exceptional
bly, large. The circular says it is
evident that the business of the
country has improved, but only very
slowly. Neither as to the extent nor
as to profitableness are there many
signs of improvement. Indications OF
the recovery or stability of values are
uncertain. and in many cases the
tendency is still decidedly downward.
THAT no line of government policy,
the circular continues, lis chargeable
with this condition is evident from
the fact that other nations. with gold
basis. low tariff and not chargeable
with public nor private extravaganza.
are suffering to even greater extent
/ than we are. What wonder that
Dunn & Co. dared to say even that
much in favor of a currency based
upon government credit instead of
upon gold.
The capitalists of the east have
been laboring strenuously to procure
q reduction in the amount Of money
-; hot no 10
to get higher rate Of interest than
they do for what remains. We are
very gravely told that all that allS the
country and keeps times SO hard is the
over-abundance of money, and it some
means could be devised by which the
circulation of the United States could
be reduced one-half all would be we'll.
Business would be terminated!
How is that for policy!
Make money dear. and then people
will borrowit! They will want it then
to open new mines! build new rail
ways! operate factories! cultivate
farms! etc. most likely!
Yet, preposterous as this idea is,
there are plenty of intelligent men in
the east who strenuously advance it
as correct. Either they sell their opin
ions to capitalists for money or else
they deliberately utter what they
must know is not true. SO far from
there being an over-abundance of mon
ey, there is not enough of it to-day iI
the United States. 1t is plentiful il
the Eastern cities, perhaps, yet ever
there no loans are granted for less thar
5 to 8 per cent. interest, and in the
West and South to l2per cent. can bt
obtained for millions of dollars OF
good security.
Is there any good reason why money
should not be as abundant in Americs
as in France! If it were, then, money
could be had in any amount wanted IL
any locality of the country at ID PEI
cent. interest. France has a popula
ton of 33 600, 900 of people, and cir
culation amounting to 81 800. 900, 900
this would be S54.8S per head of thu
whole population. America has a cir
culation of 1928. 1000, 900, and popula
ton of Al 100000 of people. Conse
quently, America has only $l7.75 pc
head of her entire population. Blu
the capitalists of France are not ask
ing the government to reduce tn
circulation and make money dear, S
!: that times may become better! 1t
! reserved for America alone to perpe
l trate that sort of stupidity.
1t is we'll known to the readers o
i the Commercial Gazette that the cul
+. rency of the United States is Target
u comprised of the national notes Gale
L greenbacks. and Secretary Sherman
l of the treasury portfolio, is besough
!. TO take in as many of those treasur
: notes as he can lay his hands on an
p lock them up. SO that they mover ca
|; pass out into circulation any more
u This would cut the currency dow
nearly one half, and cralnp every IL
dustry in the country by making MOI
ey worth 10 per cent. in the east an
o Z per cent. a month in the west, an