The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-07-04

ACCCSO0ly w ACRO01 Vic PUlOI
act when the day of the resumption
of specie payment is so near at hand
and the prospects,. according to the
secretary Of the treasury, are so sat.
isfactory for successful resump'
tion?''
''The utter impossibility, as we be.
lieve, Of the Secretary to meet the
wants of resumption. AS we figure
the necessities Of resumption. we be.
lieve that if with the amount of specie
on hand the Secretary should meet all
of the specie Obligations required by
law we would have less than no specie
on the day of resumption
"What particular obligations do
you refer toy
ssWell. the interest on the debt.
the sinking fund and all of the specie
demands provided for by law. We
are emphatically opposed to the crea-
ton of an interest bearing debt to pay
a non-interest bearing debt with-that
is. borrowing specie to redeem green
backs
"What do you estimate will be the
aggregate difference per annum in
this respect Occasioned by the re-
sumption Of specie payments! That
is, how much extra would the creation
of this interest bearing debt cost the
government yearly over and above
the present system g.
''That would depend upon the
amount of specie that we should be
required to borrow. l state this
point for the principle contained N it.
/ am not now prepared to give you
figures
you speak of demands for specie
created by law. What do you esti-
mate that these demands will amount
to between this and the day of re-
sumption %
''That am unable to say. l could
not give the figures now. That can
be found out by any citizen who
wants t. examine the statutes and see
for himself. | would not guess at it.
| will give you no guessing.
You are aware, no doubt. OF Mr..
Sherman idea that if the treasury
has specific amount of specie III re-
serve, though it might not be enough
to discharge the entire coin obliga-
tions created by the resumption act,
it will induce confidence among
financiers that will prevent them
from presenting their paper money
for coin resumption in such amounts
as would embarrass the government;
that the people will retain in circula
ton paper money in preferece to coin
on account Of its greater convenience.
knowing that it is redeemable in spe-
Gle upon presentations.
Yes, but this idea is fallacious.
1t may prove true as TO the poor
classes, but as to the capitalists never.
They are always seeking an opportu-
Eity to make money, and the knowl-
edge of such an opportunity as this
proposition affords would prompt
them to make Il raid upon the treas
ury at once. and we should have i'm
mediately re-enacted those scenes of
widest speculation common in the
later years of the war, during which
one gold dollar was worth three paper
dollars. If there is a margin Of even
one per cent in favor of gold the CAPT
talists of the country will present
their paper for redemption ut the
treasury within ninety days, Cor the
consideration of one per cent, aud
more rapidly in proportion to the per-
centage that can be obtained. This
Will simply reinstate the status OF
things that existed during the last
years of the wal, when paper was SO
reduced in value and gold correspond
ingly advanced.
TIE DEMOCRATIC PARTY.
I'm what manner does the green
back labor party expect 20 be affected
be such men rs Ewing. NoorheeS, and
Buckner. who advocate your financial
theories within the Democratic par.
lty! Do you expect to derive any
benefit from their labors. and. ii SO
how
They SOW and cultivate 4 fruitful
soil thoroughly, and we reap and gar
ner the harvest easily. as ILLUSTRATED
at their election at Terre Haute, Ind.
this spring. Mr.. Voorhees, visited
| that city to aid in achieving victory
! for his party in this election. He Ia
bored earnestly, succeeded in convinc
ing many of the truthfulness of th'
| positions taken by our party. ant
when the day of election came the,
voted our ticket and aided lis In gain
Ing victory. The reason for thi
condition OF things is the fact that tn
Democratic party is divided on tn
money question. Many Of rs leader
and those who control its platform
and nominations in the national cor
yentionS are in favor of the har
money system. Hence. when think
ing men are convinced OF the necess
ty of voting our principles of hnanc
they are convinced that they shoul'
go with the party universally commit
ted to the principles We advocate
The division of the democratic part
on the money question must be II
! garded as an evidence of great veal
, ness. All honest and right thinkin
men clearly understand that hous
divided against itself cannot ssan'
1 The result of our labors will be
? drive the hard money remnants Q
) the republican and democratic parti'
: together so as to form but one part.
: Our victories everywhere up TO tn
: date have demonstrated that fact. b
| the remnants of the two parties IL
q mediately uniting at the suceeedir
election"
4 ssFrom which party do you thin
you viii draw the greatest amount ,
II