The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-05-09
GOLD VS.. CREENBACKS.
What Wall Street Specuator Says OF
the Gold Basis.


the Gold Basis.
Richard Schell, one of the money
kings of New York. entered Wall
street about the near 1887, and, with
he exception Of the time he spent us
state senator 1T Albany and congress
man at Washington, he has remained
there ever since. "John Collins"
Who has been interviewing and writ.
ing him up for the New York Sun,
states that he is nearly seventy years
a. age and that even now he is as busy
: at his scheming as ever. He is one
OF the most extensive spectators pro.
duced by America. AS some of the
views expressed to the Sun reporter
are interesting to financial refOrmers
and have geater weight coming from
= the source which they do, we give
them below:
''The great hobby of Mr.. Schell is
that the country is in Il transitOry
STATE, and that this is the main imped-
lment in the way of any great men
coming forward.
"Our old great men were brought
up and had grown to greatness on the
slavery basis, says Mr. Schrll. Had
they lived now they would not have
been worth IL row apins. The new
state Of affairs requires new brains
and a new sort Of intellectual magni-
tude. When the time comes, such
new men will come forward, and this
great country and its great people
will be the arbiter and master of the
whole world. You under
stand what l mean, sir! We have in
this country more natural wealth. in
telligenee. aud energy than could be
needed to handle the rest of the
globe just as we please. The
resumption mania is the only thing
that can retard onr progress. l can
not get it through my head that Il
great country like this should take for
the basis of her wealth u commodity
, of which there are only eleven hu,.-
dred millions worth in the world.
Why, we haue nearly one-tenth of
that sum invested in common school
property in this state alone. SO. after
that, is net greenback endorsed by
the whole nation Il thousand times
better than piece Of gold coin, the
value Of which can at amy time be de-
preciated by the financial manipula-
tors of Europe!'
''With us things are quite different
from what they are in Europe. What
we want here, above all, is u sound
financial policy. The city and county
expenses should be cut down us much
rs possible. while the activity Of the
treasury department should be in
creased tenfold. The city of New
York has. for instance, some twenty
four millions Of war debts. These
should pc paid by the federal treasury.
1t would give an immense impetus to
the business of the city. Everybody
would grow rich. live well, and spend
money freely. The same is true with
reference to almost every city and
county in the Union. These war
debts are national debts. and ought to
be paid out of the national treasury.
Now, take again our south.
We ought to spend ut least Il hundred
millions on it. Let canals and inn
provements of all kinds be made
there, as they do it in Europe, and
the south will become rs great and
prosperous country as you have ever
) seen. Now. our trouble is that we
have no such men yet. Bet the time
will come for them to appear. and
then, tell you, you will be surprised
to see what wonderful country this
is. Nobody has any idea of it yet.
Here is Il subject for your paper
to work at. Why don't your folks
take it up, bring it in a proper shape
before the people, and make of it Il
programme of great national policy (!
You would have IL circulation of 3OO,-
600 copies in less than six months
"Why don't you do it yourself, Mr..
Schell inquired l. You could
find enough facilities for bringing all
these questions before the country"
II don't do it," retorted he with u
slight touch of anger. because l
don't propose to get the top of Il house
and cry that l am better and more
clever man than anybody else. The
secret of my popularity among my
friends is that l never try to reform
any of them. have not the time for
such kind of work. | have other
business to attend to, and il l have
an hour of leisure, III rather spend
it in reading good book than in vain
attempts to cultivate the minds of
people who are brought mp in GER
tain set of ideas. and cannot get out
of them"