The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-02-14
HENRY c. CAREY.
Views of the Venerable Political Economist
on the Present Financial Crisis.

l
Philadelphia cor. National Republican.
called upon the Venerable Henry
G. Carey to-day. He is we'll up in the
eighties, but hale. hearty, and cherry
as ever. A grand old gentleman he is
the highest type of our American
manhood. At once statesman, phil
osopher and man of business, he has
given his great powers to the service
of his country and mankind. His
books upon social and economic science
published through many editions by
his nephew, Henry Carey Baird, are
among the best of their kind ever
written. and should be had by every
man pretending to take part in the
business or politics of the country.
They have been published in eight
languages in Europe, and are recog-
nized as authority by many of the first
minds of the Old World. Had their
teachings been known and needed by
our legislators and ministerial officers
during the last twenty years, it is
quite certain that many terrible mis-
takes would have been avoided. With
prophetic vision he saw and pointed
out fourteen years ago the true finan-
cial policy of the Government. He
gave early and solemn warning of the
mistaken policy of a contracted cur
rency and as interest-bearing debt held
abroad. At every step of the des-
tructive policy inaugurated by the
bulliOnists, he has raised his voice in
earnest pleading for the endangered
industry and tradeof the country.
To-day he has the satisfaction of
seeing the good seed no longer hid
springing to the harvest. A great
people, aroused to a sense of their
danger, are arising to burst the shack
les of the bullion oligarchv, and save
the country from complete destruc-
ton.
l found Mr.. Carey quite happy over
the action ofthe Philadelphia bankers
in refusing to join New York in the
.sgold lunacy.' "New York has
isolated herself from all the country
west of her," said he. "New York is
a city of foreigners, and in all respects
rather foreign than an American
city. She looks to England and Ger
many rather than America for her
support. 1 am glad Philadelphia
|
made the tail of their kite, and | COM
mend their action as thus far on the
side of the people against the ring
Speaking of the Blaine silver bill,
Mr.. Carey said: .That bill should be
maintained as it passed. Congress
should insist upon its passage to the
last. Ifgold coined free. silver should
be coined free. If the President
vetoes it he will deserve everlasting
infamy. 1t would be revolutionary,
and should be promptly met by at
taching the law to the civil and diplo-
matte appropriation bill, and holding
il there to the last. The veto power
was only bestowed to anable the Pres
ident to protect himself. Congress
might so legislate as to deprive him of
all power. This is the only safe inter
probation. Any other makes the
President and a single man over one
third of either House the final and
insurmountable obstruction to all leg
islation. 1t is announced by Mr.. Ker-
nan, of New York, that the gold ring
have twenty-six Senators, who will
vote to sustain the Presidents veto,
and upon this assurance the robbers
feel secure of their prey and may con-
Time to suck the blood of labor and
trade at will. TO use the veto power
thus todefeat bill so well considered
and SO generally supported by the
people is revolutionary
Warming to the subject. he added,
"Why. we are just called to rejoice
that Mcmahon has been compelled to
respect the will of the majority in
France. and retire a ministry hostile
20 the policy indorced in the popular
elections. These robbers of the
people are rejoicing in the prospect
that our President will mot only refuse
to retire John Sherman and minis
try hostile to the people, but that he
will override the popular will by a
veto. If Hayes vetOes the silver bill
it will be m0nstr0us usurpatiOn OF
power, which should arouse the people
to a sense of danger. The veto power
used to obstruct general legislation.
is menace to free institutions. Its
legal existence in the Constitution il
like the power Of the Electoral Col
lege to choose President. The letter
of the law conferred upon the Elec.
: toral College the right to vote for any
one it pleased: but the unwritten con
stitution. the highest law. has decided
that the electors vote for the men
whose names were placed on the
. electoral ticket. To disregard the
popular choice. while strictly legal as
to the letter of the law. would be
revolutionary. Mr.. Hayes cannot
afford to defy the popular will in this
way"
Mr.. Carey considers the currency
reform as the most stupendous ques
i ton of the hour. Not only is it i'm
!. portant in itself but it will lead ia
great incidental results. In its dis
cussion truths of vast importance
affecting the distribution of the pro-
ducts of labor will be ventilated and
become better understood. He regards
/ the present terrible distress of the
country rs the direct result of the
reckless stupidity and criminal indif
ference of such men as McC ulloch and
Sherman.
i His remedies are RECOMMENDATION OF
, silver and national paper currency
J which shall bea full legal tender FOL
! all debts. public and private. moi
specifically made payable in coined
mouey. he would have this currency
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