The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-10-03

truth, that, during the wars Of ten
years, from 1861 to 1871, waged
| among civilized states, at least one
fourth of the reserved capital Of
this country, and perhaps even of the
civilized world, outside of England,
was wasted, sunk, and destroyed. l
repeat, in my opinion the cause of
causes is WAR, WAR. War between
other nations, and civil war among
ourselves.
Besides that chief cause, there are
other causes of that depression, set in
| operation by war, both here and in
other countries; most potent and di-
rect causes. Let me state some OF
them.
The imitation Of prices, caused by
the expansion of paper currency,
which followed the change from a
coin to paper standard Of value, for
all sales, and for all contracts. The
creation upon that new standard, Of
vast debts, both national, state, city,
corporate, railway and individual
debts, secured by mortgage, to an
amount, as stated upon high authori
ty, Of $4,000, 100000 in this country
alone.
The excessive building of railways.
of probably more than ten thousand
miles which do not pay.
The forced and sudden payment by
France to Germany of $l.0OO,0OO 900
Of war indemnity; which produced
there most unnatural glut Of money;
followed by the expansion of prices,
on6 tho rnoE1ocC 0n6
speculation, in all species of property,
real and personal, and followed, also,
by the most unwise and most danger
Gus of all-the demonstration of sill
yer by Germany, the Scandinavian
states, and by the United States,-a
policy which sought to destroy, and
came very near destroying, half the
specie money Of the world, and there
by of adding so per cent. to the bur-
den of all debts, public and private.
Add to these the potent and real but
more remote causes: The act of con-
gress Of March, 1869, providing for
the payment of 100000, 900, of
bonds, which, under the act issuing
them, were currency bonds, in coin
only, sent them abroad to pay the
balance running against us, for
which we received in return, during
the years 1869, 1870, and 1871, and
1872, in the main, silks and diamonds,
and articles of dress, luxury and ex-
travagance, manufactured abroad.
And not among the least important,
the long continued military rule, car
pet-bag robbery, corruption and de-
moralization of the states of the
south-at last so happily terminated
by President Hayes.
The reckless extravaganza, for
years, of SO many people OF the north
in their business, in their houses, and
in their living.
Above all, the appalling fact that
since the war closed in 1865, over S.
600, 200. 900, has been collected from our
people in federal taxes upon cOnsump-
tion-all that enormous sum, nearly
equal to two-thirds of all the money
of the world having been wrung
from them in taxes upon what they
eat, drink, wear and consume.
That, besides what has gone into the
federal treasury, thousands of mil
lions more have been wrung from
them to fill the pockets of special
classes-the favored few in whose in
terests the laws are made. And bear
in mind that all these vast sums our
people have been compelled to pay,
not in proportion to their wealth and
ability to, but in proportion to the
mouths they feed and ithe backs they
clothe. Bear all these things in
mind, and you have a pretty full an
swer to the question as to what caus-
ed and made so severe the depression
of 1878.
FINANCIAL QUESTIONS.
l do not say there rare no other
causes which have added to it and in
tensitied it. But l cannot speak of
these without entering upon subjects
upon which men and parties are now
divided land upon which they earnest
ly differ. While elsewhere, and on
other occasions, / have not withheld,
but frankly stated my opinions upon
them, would by no means do so
here. and ON this occasion enter upon
the discussion of any party question.
l speak to day to men of all parties,
and upon subjects above mere party
questions, in which ,all have a COM
mon interest. and in the main are all
agreed.
have. therefore, purposely refrain
ed from speaking of the effects of the
steps taken since 1878, to change back
from the paper standard of value to
the coin standard, or. to discuss the
best and wisest means of reaching our
normal condition in monetary affairs,
when all 'our paper currency should
he equal in value to the money of the
constitution, gold and silver coin: a
condition which 1nine-tenths of all
parties. republicans and democrats,
nationals andgreenbackers, really de.
sire to reach III the proper way, and
at the proper time, differing only as
to the questions of time, mode. and
means of going there; upon which
questions men differ widely, but in
that difference are equally honest and
equally earnest.
And now. in conclusion, a few
words In answer to the no less i'm.
portant question:
WHAT Is THE REMEDY
/ In answering that,I shall only 60 So
tar as l may. without entering upon