The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-11-07

bills; or who shall issue or put into
circulation as money any thing else
thar the currency by this bill author.
lied; any person so offending shall
upon conviction thereof be punished
by imprisonment for life at hard la.
labor.
S4.-AMOCNT OF ISSUE.
Of the currency by this act author.
lied to secretary of the treasury shall
cause to be printed and put into cir
cllation. twenty millions per month
for the first two years, fifteen mil
lions a month for the second two
years; ten millions a month for the
third two years; five millions month
for the fourth two years; and two
millions per month thereafter till
the whold bonded debt Of the country
is paid and cancelled, and till the ag.
gregate Of currency in circulation
shall Approximate fifty dollars per cap.
ita, after which the government shall
enIeavor ty keep this amount rs near
ly uniform in circulation as practica
ble, neither diminishing it nor in
creaing it only as the population in.
creases.
s5.-How TO BE USED.
OF the currency thus authorized,
the first and princirsl use shall be to
pay up the interest bonds of the Uni
ted States, which shall be us fast as
existing contracts with the bondhold.
ers shall permit, or their assent can
be obtained,-thus stopping interest;
next to redeem national bank notes
when presented at the treasury for
redemption, and lastly, to replace the
present rgeenbacks, and pay the ex-
penses of government.
| S6.-POsTAL SAVINGS BANK.
| And it is further ordered that ey.
cry salaried post Office shall be 4 pos
tai savings bank, and shall receive any
sums of this currency on deposit that
shall be offered and give therefor a
government note running to A. 3. or
order. payable on demand with inter.
est at two per cent per annnm, and
the postmaster general shall furnish
these offices with such blanks and
forms as may be requisite.
A.-REPEALING ALL OTHER LAWS.
All acts and parts of acts i'm refer.
ence to finance and the money Of the
country which are inconsistent with
the provisions of this act, are hereby
repealed.
ADDED EXPLANATIONS.
| I've do not want any two kinds
of money, for no two kinds can posi-
bly, be equal. one will be preferable
to the other. We do not want bet
ter and superior kind Of money
for the rich, and an inferior and
less valuable kind for the poor; as oul
present gold for the bondholders and
greenbacks for the people. Make
greenbacEs our only money, and lei
gold and all other metals take care o1
themselves. Then paper and meta
will have 10 quarrel, and the norma
condition of the paper currency viii
always be above par, and can never
possibly be the fraction Of a cent be
low. This is = sine qua non of the
0reenback issue that it must be the
only legal tender, the only debt pay
ing money Of the country. Nothing
less than this can we accept. This
will prevent, and forever prevent any
depreciation Of the currency, and
this alone can do it. Read the ac
COUNT Of the bank of Venice. which
w1ll be found elsewhere il this paper.
| 2.-This is not a note. It contains
no promise to pay. for it is pay itself.
| 1t is redeemed every time it pays a
debt, and passes from one person to
another: for it is the peoples money,
and whenever any one Of the people
takes it. he redeems it.
The government redeems it when.
ever it receives it for it taxes or Gus.
toms. 1t needs no other redemption.
1t is convertible into god or silver
only as it is convertible into pork OF
wheat, or any other commodity.
| rromisory money is always lying
money, for it never fulfiIls its promise
when it is most wanted to.
| 3.--This section will need NJ com.
ments.
4.-There will be . great variety
Of opinion here. Let the new money
come gradually into circulation. In
fact it can come in no other way.
Many Of the bundholders win not b