The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-10-31
WHO SHALL PERSUADE AHAB.

L,
AND SAID, 81 WILL GO FORTH AND
BE A LIVING SPIRIT IN THE MOUTH
OF ALL HIS PROPHETS"
In 1865, when the nations veins
were full of healthy blood, and every
fibre Of the social organism was
charged with the vitalizing forces
of industry, Averice, Greed & Co..
sought among all the departments of
nature for vampire, whose powers
of suction and lack of conscientious
and sympathetic sensibility would en-
able them to draw off and appropriate
to their own selfish uses, the surplus
which tho people had accumulated
under their healthy stimulus Of all
abundance of money. After diligent
search they discovered the requisite
qualifications in one Hugh McCulloch,
whom they seemed for their work of
death and destruction. Soon after
this vampire had bSen fastened upon
the throat of enterprise. to wit, on
the 4th of December, 1865, f. G..
Spaulding, banker and a member of
congress from New York, wrote to
him, as follows:
''Yo on no doubt now, to large ex-
OF the country, and l think that you
Will OF necessity contract moderately,
- as to presere tolerable easy money
market.
"Taere may be occasional spasms
and tightness for money, for at least
year TO come"
WhaV then. What was xpected
after the 'yeaI to come" but just
that which did take place!
Contract moderately ut first"
Draw the blood mildly so AS not to
alarm the victim.
"There may be occasional spasms. :"
Some poor devil may be choked
sooner than the rest.
But hold your grip for at least a
year, by which time the victims will
be too weak to resist.
What has been the result!
Behold the bleached financial bones
of this vampires victims strewn all
along the road.
The famished and emaciated sur.
vlvors are calling to an account the
lnstlgators and perpetrators of this
wholesale slaughter.
In defense OF their wicked deeds,
they have brought forth from the
Vastly depths of oblivion, to which So
ciety had consigned him, this VAN.
pire, Hugh McCulloch.
In recent article In the Tribune he
adds perjury to his previoss crimes
o. the false assertion. that there new.
or was any contraction of the currency
until after the crisis of 1881"
He then doubled the crime by add
ing that there is even now. more
money in the vaults of the banks. in
the United States treasury and in cir.
culation than there was in 1885,
1t Is not deemed necessary in thi
connection to reply to these state
ments. their falsity being known and
understood by all men.
Mr.. McCulloch states that the vol.
ume Of currency instead of being di-
mlnsned was actually increased un.
til 1878. at which time it was greater
than 1t ever had been BEFORE" which
increase was the prime cause of the
panic of that year. for he SAYS:
The close of the war found the peo.
pie freer from debt than they had
ever been for II quarter of a century.
while the crash that followed WAS
mainly, II not exclusively, the result
OF a redundant currency, and the un.
healthy, enlargement of credits the
natural consequences thereof"
Thes are important admissions.
At the close of the war, when the
money volume was actually the
largest ever known. the people were
freer fiom debt than they had been for
aquarter Of y century, and about $40
o0siness failures in al the country.