The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-11-07
WHOLE NO. 226

willing to give up their bonds before
they are due. But when the first
step of progress is taken in this right
direction it will give IN impetus to
all kinds of business. A rising mark
ct will spur industry, and open trade.
But how fast or how slow the issue,
is only a question of expediency, .
matter of opinion.
Z. Itrepeals the national bank act
prohibits the further issue Of bank
notes, and provides for the redemp-
tion Of those already issued.
For fifteen years the greenback,-
even with repudiation upon it's back
has battledsits way into universal.
confidence. 1t is the maney of the
people. It represents all production,
all property, all the accumulated
wealth, honor. and integrity of the
nation. And to make it what il
ought to be we have only to say that
1t shall be the only legal tender, and
then it would be better than gold.-
1t would be safety itself. 1t would
be premanancy. 1t would beco.yo-
nience. 1t would be a measure Of
values which no power could change
no strlngency could effect, no crisis
could lessen. No Shylock could con-
troll it; no bank could limit 1t, and it
would put an end to hard times, to
failures, to tramps.
What right has any state or govern
| ment to borrow money and give its
bond, binding future generation
now unborn. to pay the same! Sup.
pose congress had borrowed money to.
pay its war debts in 177S, and given
bonds due III one hundred years, With
interest, and that the amount new
due on these bonds Of principal and
| interest, amounts to ten dollars for
every man woman, and child; 0
eighty dollars for every workiny,.,an
what would you think of the ius;ic
Of the bonds and OF compelling you
to pay them!
There was no period in the history
OF Roman civilization when the peo-
PIE were SO omnipotent in power, 50
grand III their achievements. 50 free in
their pursuits and SO elevated in ed,s.
catiOnal reiinements as when she
possessed the largest amount Of mon
ey as a circulating medium. Forty
dollars per capita was the amount
which made the Roman citizen the
envy OF the wcrld. In l4OO she was
reduced to four dollars per capita.
Her power was dissipated, Ignorance.
ruled. brigandage prevailed. the des-
potic few made slaves Of the debased
many, her fields were deserted, pro-
duction ceased and barbarism pre-
vailed.
Can congress enact any law that
cannot be amended or repealed by
any succeeding congress! In other
form can any law made by a legisla-
ture assume the attributes and the
essentials of the constitution. and be
thus put above and beyond the sphere.
OF future legislation! Yet this 10.
precisely what some politicians claim
Of certain laws enacted by congress.
It may be objected that the Green
back party are in favor Of issuing
such volume of greenbacks that they
will become worthless. Now we pro-
pose to issue just enough of this legal
tender money to pay off the bonds.
Now will some 1ne tell us how this
can increase the liabilities Of the gov.
eminent! The bonds are at preini-
um, then why should the greenbacks.
become worthlessl What have the
bonds back Of them to make them,
good, but the wealth aud ability of
the government And have not fhe
greenbacks the samei
It may be objected that the green
backs will not be rs good as gold, and
will 90 down. down below it in value.
Now will some one show how an only
legal tender can possibly fall below.
par with gold or any thing else !! We
maintain that the normal condition
Of the greenback will always be above
gold or any other metal.
It has been objected by the Repub-
lican press that we are in favor Of an
unlimited issue Of this currency.
This is FALSE We ask for only Just
enough to pay ~ all the bonds Of tho
government. and save the country the
present enormous drain upon II for
interest.