The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-12-27
VACARlES CT JOHN SnERM AN.


an interesting Letter from Elk River
The secretary cannot too strongly
urge the firm maintenance OF pOllcy
that will make good the promise con-
tanned in the United States notes
when issued-a promise repeated IN
the act ''tO strengthen the public
credit" approved March Is. 1868, and
made definite and effective by the re
SUMPTION act.
Now John, was it not the promise
distinctly and plainly printed on eve
Nv one of the United States notes that
it was a legal tender for all debts pub-
lie and prirate. except duties on i'm
ports and interest on the public debt;
and did you not tell the people of Ohio
in 1868 that the payment of United
States bonds in coin, while on
their face (back) they were to be paid
in lawful money, would be repudia-
ton and extortion. But he contin-
ues;
"DishOnored notes. less valuable
than the coin they promise. though
justified by the necessity which led
to their issue, should be made good
as soon us practicable. The public
credit is injured by failure TO redeem
them. Every holder who was COM
PEELED by law to receive them has
been deprived Of q part OF his Just
due.
If every one compelled 10 receive
this money have been deprived of a
part of his just due, have they not
some claim on Uncle sam. for REIN
bursement! In this one single sen
tence, You open a subject of wonder
ful and telling import. \ few months
previous the issue of the United
States notes, Uncle sam. hired Il num-
Der of men. viz: $4,000. to do a little
Job for him, and it chiefly consisted in
stopping bullets. for which he agreed
to pay @l3 per month in gold; this
promise he complied with the first
month, but the second month he
found himself without any money,
and so the soldiers got nothing but {;
promise, viz: that the United States
"would make some money. and the
| fulhllment of this promise gave birth
to the Rag Baby" or United States
notes. which the soldiers gladly re-
ceived and sent home to their famish-
ing families; and what followed
Why these special pets of Hayes and
Sherman 1.-THE bondholders) denounced
called it irredeemable rags, in short
did everything in their power to bring
it into disrepute, and finally quoted it
| down to 33 cents on the dollar, max
ing one of their dollars buy three OF
/ Uncle Sammy's S, and at this point they
began to buy itup and convert it. dol
lar for dollar, into $40 bonds of the
same date, bearing per cent interest
in gold. while the soldier. standing
between Uncle Sam and the enemy
that were intent upon destroying him
and his government, were compelled
to receive it at 100 cents on the dol
larl If 'severy holder who was com
PEELED by law to receive them Omitted
States notes.. has been deprived O
part of his just due" how much are
YOU indebted to more than Il million
of soldiers. dead and living, to sa,
nothing of the many other million:
YOU obtained. and which were abso
Iutely necessary to save the nationa
life. Now John. you stamped TIL
United States 100 cents, the gold gam
blers. whom yon'call the public cred
. itors. stamped your money 50 Is, 81
, cents and SO on up to g. 3-S cents. ant
whatsoever they stamped it. that
(instead OF your stamp was the value
thereof-thus permitting them TO talk
advantage Of their own wrong. Tn
counted thousands,w gave their bes
efforts and finally their lives at $50
and SIS per month that their countr,
might live. were compelled to tax
YOUR mouey at 100 cents, while other
who having the power to do so, de
stroyed the credit of your money an,
bought it st fearful discount-fo
the former class you have nothing t
saw. while for the Shylocks, who lit
terally robbed US, your heart is read
, to bleed at every pore. Verify. John
if was bloated bond holder. if
! could not rescue your soul from hela,