The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-02-14
The Anti-A1onopo1ist

say, money is plenty. II so, why
do not men engage in business and
create wealth. II it is. what man
wants to borrow money when ne
knows, if the resumption act is not
repealed, he will have to pay the
debt in gold! He does not know
where he can get the gold and ne
knows that property is depreciatine
as money increases in purchasing
power.
AS to the difference IN cost to the
people between greenbacks and bank
notes, l will give the arguments OF
E. p. Miller in reply to Hon. a. ;.
Hewitt's speech in Congress:
The difference in cost to the people
in coin in thirty years between the
greenback system of currency and
the coin and bank note SYSTEMS enor-
nous. The smallest volume of cur
rency required to supply our actual
business is $500, 600, 900 the average
for thirty years to come will be ,2OO.-
OOO, 900; but let us base our calcula-
ton on the volume now in use 7OO.-
OOO, 900. If this amount is all in green
backs the people, save the interest
on that amount of public debt which
at 4 IL per cent would be 1871, 100000
a year. In thirty years we would pay
in interest alone GAS, 900, 900, and add
ing the principal to be paid at that
time it makes the enormous sum OF
l.645, zoo, 900. This amount OF coin
would pay the whole of the present
interest bearing debt. Peter Cooper
and his greenback friends want thi
saved to the people; on the other
hand Mr.. Hewitt, by issuing bonds,
destroying greenbacks and using bank
notes and coin, wants to force the
people to earn this vast amount by
hard labor and give it all to home and
foreign banks without receiving in
return one dollar as an equivalent.
The difference then to the people
between the greenback currency and
bank note currency is this: With
the greenback currency we save
enough in thirty years to pay off the
public debt. With the bank note cur
rency, the greenback being destroyed.
we pay in interest to the banks
enough to cancel the debt and yet at
the end of thirty years the debt is
35l zoo, 900 larger than it is now. But
this is not all. The country will need
an average of 200. 100000 of curren-
cy for the next thirty years. By hav.
ing this all in greenbacks the people
will save in interest and principal
over 2,50O,0OO,00O.
This specie payment business is q
game Of the banks to compel the pay
ment of all the money to them. The
Wall Street Syndicate is running the
in the interest Of the
banks and robbing the people by
wholesale. Some men want a large
army and strong government. |
like Il strong government, not strong
with bayOnets, but strong in the ad-
of the people. Just
laws will make strong government.
What is legal tender for the poorest
man in the land, should be lengal ten.
der for the wealthies.
Farmers, mechanics, labOrers and
merchants our interests are alike
let us get what information we can
on this financial question; there is no
question of so much Importance. We
all know that times are growing hard
er. The legal tender money of our
country is being contracted and de-
stroyed; the best money that we have
ever had. know it is hard for you
to leave the old parties. have been
a lifelong Democrat. Until last fall
Il was satisfied that every vote that
cast for the old party was cast
against my interest and the interests
Of the people.
Friends, take greenback papers and
look them over and judge for your.
selves. The b0ndholders are running
both of the old parties. Look at their
platforms in 1876! We went to the
polls hurrahing for Tilden and Hayes
like a pack Of sheep to the slaughter.
Every vote cast for either of them by
the workingmen was cast against our
interest. We should have voted fol-
Peter Cooper, the nottingham 8
friend. God bless the old Philan.
thropist
Greenback men, let us go to work
bors to subscribe for our papers. il
we cannot get them to subscribe lei
us take few extra copies and give
them to them: and when we have read
our papers let us send them to our
neighbors. Now is the time to be up
and doing. We have the monied arts.
tocracy to fight. but right and justice
are on our side and we are going to
win. Thank God, the skies are
Frightening and before 1880 believe
we will have greenback con-
gress and president. We have had
enough legislation for the bondhold.
holders and bankers, we need some
for the people. The people have it in
their power to decide whether they
will have currency issued BY the bank
that is not legal tender that they can
increase or decrease ut will. and have
hard times and pay interest on them
for all time TO come. or have the gov
eminent issue legal tender money
based on the wealth of the nation that
will be good rs long as the nation en-
dures. legal tender for all debts re-
ceivable by the government for all
dues and have a prosperous country.
Shall we he free men or slaves,
Very respectfully yours
r. F. FLEMING.