The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-08-01
MODEL LEGISLATION.
Equally of use establishes equivalence
a. NaIIn.


Whoever may be connected with
the great bondholding fraud. of
which the people Of this nation are
the victims, together with the defend
ers. apOlOgists and spcOphants. in the
pay and interest of the bond intrigue
hat has paralyZed the industries OF
our country. each and all OF them. IN
Guiding the editor Of the Lewiston
Journal. are ready to proclaim that
our Republican congress and eXecu-
tive government have presented i'll
their mastery management OF The
financial affairs Of the nation for the
last seventeen years sublime specta-
Gle Of moral grandeur and self oacrl-
ticing disintereStedness
Honest men. however. land we are
happy to know they outnumber all
others fail to see the sublimity OF
anything other than moral tnrpltude
in the following chapter OF their sew
enteen years Volume.
The first loans made by the banks
to the government. at the breaking
out Of the rebellion, consisted Of coin
10 the amount of 50 millions. and bills
(statc bank go millions of dollars.
and for this congress enacted in July
and August. 1891. that bonds should
be given. running 20 years. bearing
! $50 per cent. interest for part Of
this sum. and that treasury notes
were to be issued in denominations Of
not less than so. payable in three
years from date, with interest paya-
bic semi-annualIy. convertible into
tWenty-year : 80 bonds. In this
act, the option WAS given to the Sec
Rotary Of the treasury TO issue 30 mil
lions treasury notes III place OF the
80 millions three year notes. in demon
nations OF s., and which should he
denominated '.dcmand notes ana
made receivable in payment of public
dues. There WAS SO much If he sub
treasury laW set aside by this act hat
il WAS left at the option of secretary
Chase to select some Of these banks to
set as repositories of the government.
This last clause the bankers had
put into the act upon the supposltion
that Mr. Chase could he persuaded 10
leave Che money Of the government
on deposit in the very banks Chat had
made She looms. This last bright idea
he failed to comlrc hend. So faras the
coin part OF the loan was concerned.
bat the option given him Of issuing
81 millions Of = treasury notes he
Aas persuaded 10 adopt. and the re-
suit was that he bankers were ena-
hled to get back nine-tcnths Of their
coin loaned to the government in less
than six days; and these treasury
notes in less than sixty days. and 4
short tim" after, finding that secreta-
~ chase would not entirely join
their uriarious schemes for rohblng
the government, they suspended Spe-
Gle payment Dec. -. Ic6l.) OF their
own bills, which has already passed
( Though the government into the
hands Of the people.
I The above challenging contradic-
I ton of beiug absolute statement Of
! tactS.l was but the entering wedges
, Of ihe great drama of systemized
! fraud ever practtsed upon and endur-
/ "a hy a people. IS. we are told by the
/ Aunkeys II the foreign anu home Shy
/ jackS, and enacted ~ oar no less 81
cophantic ana mercanary legislators
as i model of financial engineering.
( God save the mark
You. mani fsctureFs, farmers.
/ tTadaSueu WarEiu0fastsn -vh.,t IL