The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-07-25
PLACED ON RECORD,

For the purpose Of placi"g on rec
ord the action Of the bondholders sen.
ate III response to the following pun
gent and powerful appeal by the great
philanthropst. Peter Cooper for the
repeal OF the resumption act. we
quote the same and note the fact that
they Of course denied it. Now. let it
bear the responsibility of whatever
follows.
70 the president Of the United
States, the senate and tile house Of
representatives now in session:
The urgent request made of me.
from all quarters of our country. to
address some words OF counsel and APP
peal. coming irom one who has now
no other object in life than the good
OF his country. must be in, apology.
for making this address TO your hon
Olable body.
The country has become alarmed ut
the resolution Of congress proposing
to adjourn on the 18th inst. without
giving the people some relief from the
present state of the currency
Your honorable body must be
aware that property has already great
iy declined III value and no one can
doubt 1t will continue to decline I'M
fer the present and future financial
prospects. due wholly to legislation of
congress. or these acts of legislation
the presumption bill, so called is the
most disastrous. and takes away all
hope OF amelioration. until IT is re-
pealed.
Bankruptcy and distress is covering
i.
has been sustained by the hope and the
expectation that congress would give
the relief required hy the W hole coan-
try. IL the repeal of that obnoxious
act.
We pray. therefore. OF Your honor
able body. rot only To repeal that Inv
which has thus > runk the value OF all
property. but specie; stopped the en-
terrrise of the country an taken the
treat. Of industry from the moths OF
hundreds If thousands in cur land: but
also to give us some other measure OF
relief. by turning large sums of mon
ey from IN investment that now only
tasks the industry of the country. 10
the channels of enterprise ANA active
investment.
We petition for u law that shall IS
sue fifteen hundred millions of govern
ment notes, made a full legal tender.
ana buy up tae SIX and FIVE per cent.
bonds now due, as last rs they can be
practically purchased at Il coin valua-
ton. or some other method by which
this sum may be returned To the peo-
pie ~ once.
With this issue thus returning his
money! the CAPITALISTS. he would be
Obliged TO seek active investments in
real estate. railroads. iron mills. man
ufactorles. and other extensions OF
trade and commerce. This would nj
eance benefit every existing enterprise
and set 10 work All the idle labor of
the country. Ii would save this over
taxed people over seventv-tive mil
lions OF rev .nue now necessary 10 nav
the interest on the bonds.
In behalf OF these hundreds of
thousands IF our suffering country.
men. | beseech you not Ia adjourn till
YOU have given some such measure of
relief:
We have reason To be alarmed at
the attitude of large bodies of mis-
guided people towards the claims of
law and order: and although there can
be little apprehension in a law-abidiny
country like this the power of our
Government cannot be ma e res
pected. yet something is due by =
paternal Government to those who are
driven by sheer want and desperation